| Hey Cryptonews, here's our curated daily bundle of crypto news. | | BNB Chain surpasses Ethereum in terms of unique addresses
|  | - Unique wallets on the BNB Chain crossed 230M, surpassing Ethereum by 7.5%
- This was revealed via BNB Chain's "Year in Review"
According to Etherscan, Ethereum currently has over 217 million unique addresses. In comparison, BNB Chain has over 233 million unique addresses, according to BscScan. This suggests that the BNB Chain is larger than Ethereum.
Developers further stated that this makes BNB Chain the "largest layer 1 blockchain in the world." However, blockchain data revealed that the Bitcoin network has over 1 billion unique addresses. This means that it is larger than both BNB and Ethereum networks combined.
The report also noted that the network witnessed "record-breaking highs" in transactional volume — reaching 9.8 million transactions in May. Moreover, it hit 2.2 million daily active users (DAUs) in October, with DAUs being defined as the number of unique addresses per day that interact with a smart contract.
| | Aave DAO to integrate Chainlink's Proof-of-Reserves system
|  | - The PoR oracle would keep track of bridged assets on Aave versions v2, v3
- This would help mitigate the risk of attacks on the Aave protocol
DeFi lending protocol Aave's decentralized autonomous organization recently approved a vote of over 99% in favor to implement a "proof of reserve" system. The initiative would be carried out by blockchain oracle Chainlink's Proof of Reserve smart contract to protect bridged assets on Avalanche.
As per the proposal, Aave would use ChainLink PoR's aggregator smart contract to protect tokens on the original network (Ethereum) as well as their bridged versions on the target network (Avalanche). It would specifically cover Aave versions v2 and v3 on the Avalanche blockchain.
Bored Ghost Developing, the Web3 studio behind the proposal, said its PoR smart contracts will give an extra layer of security to Aave. Furthermore, with proof of reserves, Aave can verify that bridged assets accepted on the platform are fully collateralized before allowing users to borrow against them.
| | Learn More | | Avalanche rolls out 'Banff 5' communication upgrade
|  | - The new software update introduced Avalanche Warp Messaging
- This would allow subnets to easily communicate and share data with each other
Avalanche developers recently revealed a critical update named "Banff 5" for the blockchain's subnets. The update introduced a communication protocol known as Avalanche Warp Messaging, one that would enable direct communication between subnets.
Described as "seamless native communication," this would allow subnets to share data and crypto-assets with each other in an effort to make the Avalanche blockchain ecosystem more useful for developers. Moreover, the upgrade eliminates the need for individual subnet projects to deploy and manage their own bridges and could open the door to new use cases such as cross-chain staking of tokens.
The Avalanche team explained that a cryptographic tool called "BLS multi signatures" would be used to verify messages and data across chains. Once generated with the multi-sig tool, the message can be verified by any other subnets in the Avalanche ecosystem to initiate the native transfer of data or assets.
| | Paxful delists ETH from its trading platform
|  | Paxful CEO Ray Youssef announced ETH's delisting on December 22 Reasons cited include ETH's move to PoS, its tokens, as well as its centralized nature
According to a statement released by Paxful CEO Ray Youssef, the cryptocurrency trading platform delisted Ethereum (ETH) on December 22. The initial justification offered was that Ethereum was transitioning from a PoW to a PoS consensus. Youssef argued that the POS transition had transformed ETH into a "digital form of fiat."
Another reason given was that Ethereum is too centralized. At the time of writing, four entities controlled over 56% of the ETH staking pool, per data from Dune analytics. An effect of centralizing these pools and consequently, validators, is that most newly added blocks became OFAC-compliant. These blocks did not allow transactions involving people or organizations that the agency had sanctioned.
This implied that governmental authorities might approve of and interfere with Ethereum transactions. Furthermore, Youssef noted that Ethereum thrives on tokenization, which led to the creation of several scam tokens that robbed people of billions.
| | Learn More | | Binance fights back against FUD
|  | | Binance's latest post was addressed towards fighting against the tsunami of FUD it has faced in recent weeks. The firm explained that the temporary suspension of USDC withdrawals was done during a "token swap" conversion period as the exchange was consolidating its stablecoin reserves into BUSD.
The next thing it addressed was the availability of sufficient reserves for withdrawals. It confirmed that "all users' assets on Binance are supported 1:1." As for Mazars and the "Big Four '' auditing firms refusing to work with crypto-companies, Binance reiterated that encrypted on-chain verification is a new field and firms are still learning about it.
Binance also claimed that it did not need to disclose financial information because it is a private company, not a listed one. Furthermore, it revealed that mainstream media has been targeting the company with salacious reporting even though it had the most compliance licenses in the world. Finally, the exchange reiterated CEO Changpeng Zhao's comments that Binance did not destroy FTX; FTX did that itself. | | Dogecoin gets listed on Europe's Bitstamp
|  | - Bitstamp announced that it would list the memecoin against USD, Euros
- This led to Dogecoin jumping by over 6% in 24 hours
Bitstamp listed the meme-inspired cryptocurrency Dogecoin (DOGE), allowing users to trade it in two pairs - USD and EUR. As per the listing policies on the exchange, DOGE would have no trading fees for total trading volumes of up to $1,000 over the next 30-day period.
This led to a minor price rise in the market's eighth-largest cryptocurrency. This came after a brutal month-long descent for DOGE. On November 23, DOGE was trading hands at roughly $0.08 before rising as high as $0.10 on December 5. Since then, however, it had been on a slow and steady decline.
A contributing factor behind this was Twitter CEO and Dogecoin proponent Elon Musk. He claimed that the memecoin would be implemented as some form of cryptocurrency payment rail for the social media platform. Since then, no update has been provided, which has led many to move away from DOGE. | | FTX's Sam Bankman-Fried to be released on $250M bail bond |  | - SBF would be released to his parent's house in California under strict supervision
- FTX also requested a bankruptcy court to keep $450M worth of Robinhood shares frozen
Sam Bankman-Fried is set to be released from federal custody after his attorneys struck a deal with prosecutors on a bail amount of $250 million. SBF's parents co-signed the bond and put up equity of their home in order to get the bail.
Bankman-Fried was also required to fulfill other conditions as mandated by the court. This means that his movements would be confined to the Northern District of California. Additionally, the former bigwig had to surrender his passport, attend regular mental health checkups, and wear an electronic monitoring device. SBF would also not be allowed to open new credit lines during his trial period.
At the same time, Bankman-Fried is fighting with bankrupt crypto-lender BlockFi and FTX creditor Yonathan Ben Shimonto to keep ownership of 56 million Robinhood shares. FTX requested that since there are multiple entities seeking to obtain possession of it, they should be frozen until the Court could resolve the issues in a fair manner. The filing stated that the assets are currently frozen in a brokerage account at ED&F Man Capital Markets Inc.
| | Learn More | | Bitcoin sits steady around $16,850
|
|
|
|
|
|
|
No comments:
Post a Comment