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Technology

A collection of 178 issues

LayerZero Labs Launches "Sybil Hunter" Program with 10% Token Reward, Starting May 18

LayerZero Labs has announced a new initiative to combat fraudulent activity within its network, dubbed the "Sybil Hunter" program. This program is designed to identify and address Sybil attacks—where a user creates multiple accounts to exploit network services unfairly. The announcement comes as the company prepares for an upcoming

Approximately 100,000 LayerZero Users Confess to Multi-Accounting

Brian Pellegrino, the CEO of LayerZero Labs, recently disclosed that around 100,000 addresses have admitted to being Sybils. This term, rooted in cybersecurity, refers to users creating multiple accounts on a network to manipulate or undermine the service, typically for personal gain such as fraudulently acquiring airdrops. Pellegrino shared

BlackRock’s Crypto Wallet Linked to Sanctioned Tornado Cash by a Mysterious 1 ETH Transfer

A single Ethereum (ETH) transaction has placed the financial behemoth BlackRock in an unusual spotlight. An unknown entity sent 1 ETH to BlackRock’s cryptocurrency wallet using the controversial mixer service, Tornado Cash, which has been sanctioned by the U.S. Department of the Treasury. This seemingly minor transaction has

LocalMonero Shuts Down: Peer-to-Peer Cryptocurrency Trading Platform to Cease Operations After Nearly Seven Years

LocalMonero, a popular peer-to-peer (P2P) platform for trading Bitcoin and Monero (XMR), has announced its impending closure. This decision marks the end of nearly seven years of operation, a journey that the LocalMonero team described as being curtailed by "a combination of internal and external factors." The process of winding

LayerZero Labs Announces Collaboration with Chaos Labs and Nansen to Combat Sybil Attacks, Promises Users Can "Undo Sybil Report"

In a significant development announced on May 7, 2024, the omnichain protocol team at LayerZero Labs disclosed a new collaboration with Chaos Labs and Nansen to enhance its efforts in combating Sybil attacks. Sybil attacks, where a user illegitimately creates multiple accounts in a network, pose a substantial threat to

Visa Reveals Over 90% of Stablecoin Transactions Are Not Linked to Real Users, According to New Dashboard Developed with Allium Labs

Visa Inc., in collaboration with Allium Labs, has introduced a sophisticated new dashboard designed to monitor transactions involving stablecoins. This innovative platform has unveiled surprising insights into the stablecoin market, indicating that a mere 10% of these transactions are linked to actual users. Despite the colossal turnover of $2.2

MicroStrategy Launches Decentralized Identification Protocol Based on Bitcoin Technology

MicroStrategy, a prominent holder of Bitcoin and a key player in the cryptocurrency field, has announced the development of a groundbreaking decentralized identification system. The new product, dubbed 'Orange', utilizes Bitcoin's blockchain technology to verify personal identities in a secure and efficient manner. This innovative approach represents a significant shift

Solana Co-Founder Advocates for Meme Coins, Countering Criticism from Ethereum's Vitalik Buterin

In a striking defense of meme coins, Solana co-founder Raj Gokal has publicly disagreed with Ethereum co-founder Vitalik Buterin's recent critical remarks about these projects. Gokal articulated his support for meme coin projects, suggesting that they play a crucial role in attracting both developers and users to blockchain technologies. Vitalik

Vitalik Buterin Labels Proof-of-Work a "Temporary Stage" for Ethereum, Emphasizes Shift to Proof-of-Stake Due to High Centralization Concerns

In a significant discussion about the future of blockchain technologies, Ethereum co-founder Vitalik Buterin has shed light on the imperative shift from the Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). Highlighting the evolution of Ethereum, Buterin described PoW as merely a "temporary stage" in the broader development framework of the

Pantera Capital Aims to Raise $1 Billion for New Crypto Fund

Venture firm Pantera Capital is setting its sights on raising $1 billion for its latest venture in the cryptocurrency space, the Pantera Fund V. According to a Bloomberg report citing sources familiar with the matter, the new fund will focus on early-stage equity and token investments. Pantera Capital, known for