Chain News by Thebittimes.Com

Modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing additional transparency and traceability. The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.” According to a Tuesday report, the OMFIF said modernizing public Finance management through Blockchain could help governments identify potential corruption and waste by providing “enhanced transparency and traceability of payments.” The report suggested the technology could facilitate the prevention of embezzlement of funds given the global rise in fraud from cases including ransomware and cybersecurity attacks. In addition to helping reduce the risk of theft from invoice fraud — allowing users to send ...

Four security incidents took place on Coinbase's layer-2 solution Base shortly after its launch. A total of $15.8 million in crypto currencies were lost to hacks or exploits in the month of August. According to an Aug. 31 report by blockchain security firm Immunfi, a combined $23.4 million in crypto was lost to a combination of hacks and fraud, a significant decrease compared to the $320.5 million lost in July. All exploits consisted of attacks against decentralized finance (DeFi) protocols, and not a single incident affected centralized finance entities.  Of the 21 security incidents reported, five took place on the Ethereum blockchain, while four occurred on BNB Chain. Coinbase's highly anticipated layer-2 solution, Base, witnessed four security exploits shortly after its launch on Aug. 9. Top losses include the Exactly Protocol hack on Aug. 18, where 4,323.6 Ether (ETH) ($7.2 million) in users' deposits were stolen via a malicious deposit contract.  Meanwhile, on Au...

Additionally, to support the continued growth and maturation of our project, we have decided to expand our integration with  Chainlink Automation , a smart contract automation service. By integrating  Chainlink VRF + Automation , LasMeta is now underpinned by a tamper-proof random number generator and reliable automation service built to enhance the user experience. As Lasmeta announced its Integration with Chainlink. Helping Secure LasMeta Lucky Draw Games With Chainlink VRF The accuracy and security of LasMeta lucky draw games must be unquestionably transparent. It is imperative for us to provide the user with the proof that data about game results is independently verifiable. Outsourcing Lucky Draw Maintenance With Chainlink Automation Helps ensure transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager. Able to eliminate in-house automation infrastructure costs, reduce res...

Gate.io , the world’s leading cryptocurrency exchange, has announced the Gate Pay integration into Uquid , marking a new milestone in the partnership between the two parties. Gate Pay is a secure and free-to-use crypto payment technology fully developed by Gate.io. Users gain access to a more user-friendly method of sending crypto payments for goods and services, and merchants benefit from business-friendly tools so they can start accepting cryptocurrency. Currently, Gate Pay supports over 20 cryptocurrencies in payment, and plans to increase to 130 cryptocurrencies in the future. About Gate.io Founded in 2013, Gate.io has strived to provide its users with the best trading experience in the last 8 years. In terms of trading volume, Gate.io is one of the top 10 crypto exchanges in the world listing crypto assets that are great in quality and have a high rate of return. Now, Gate.io has 1500+ cryptocurrencies listed for trading, and provides 2800+ trading pairs to over 12 million u...

The dismissal comes after an extended period of legal proceedings and debate over the nature of Uniswap’s operations and its compliance with financial regulations. advertisement The Basis of the Dismissal The legal decision’s language bears special significance as it delves into the core essence of Uniswap’s decentralized nature. The judgment underscores that the heart of the Uniswap protocol lies in its decentralized structure, effectively highlighting the absence of identifiable defendants in this case.  Judge overseeing SEC v. Coinbase just dismissed a class action against Uniswap. Notice the language: Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Must Read ...

Following the expiration of the Uniswap v3 code license on April 1, Conflux seeks to deploy the decentralized crypto trading protocol on its network. Conflux, a regulatory-compliant public blockchain based in China, seeks to deploy Uniswap v3 on its network, according to a proposal on Uniswap’s governance forum on April 7. The move comes days after the Uniswap v3 code license expired, enabling developers to fork the protocol and deploy their own decentralized exchange. As per the proposal, the deploy ment would provide “access to millions of potential new users, particularly in the Chinese and Asian markets.” According to Conflux, the Blockchain experienced a spike in traffic in the first quarter of 2023. The network has a market capitalization of nearly $1 billion and has $45 million in total value locked on-chain.  “Currently, 84% of worldwide Blockchain applications are submitted in China. Compared to the UK and the US, 11% and 14%. [...] This shows that China is one of the most m...

Up a mere 0.2% on Tuesday, Ether trades at $1,646 amid a building bearish trend, with the possibility of validating an extended downtrend to $1,140, considering the presence of a descending triangle pattern. advertisement ETH Price Sits At Breakout Zone Ethereum has generally sustained a downtrend since the last bull run to $4,878 in November 2021. Within this crypto winter, there have been moments when ETH price has pushed to reverse the trend like the rally in January and April 2023. The latter hit $2,125 as investors embraced the Shapella upgrade, which marked the completion of the transition to a proof-of-stake mechanism. Although bulls gathered rallied behind ETH in June, resulting in an upswing to $2,000, a lack of momentum saw the smart contracts token trim gains back to support between $1,600 and$1,630. The technical picture on the daily chart presents a disquieting situation, where ETH price could tumble 30% below the breakout point at $1,630 to $1,...

XRP Holder’s Lawyer Position While many industry observers have voiced their respective opinions, XRP holder’s lawyer, John Deaton has revealed that he is placing the odds of Coinbase winning the case based on the trading platform’s Motion to Dismiss (MTD) the claims it supported the trading of unregistered securities at 25%. advertisement Deaton, who has chosen to represent the users of the exchange as well as those of its rival, Binance in court told his more than 290.6k followers on the X app that they cannot let Coinbase speak for them. Refusing not to form a coalition to let their voices be heard as far as the case is concerned on the basis that the exchange might be looking prime for a victory is risky. If you’re a @ Coinbase customer and object to the SEC’s lawsuit and bad behavior, you have an opportunity to be heard. We don’t let the SEC or Coinbase speak for us. We made a difference in the Ripple case, we can mak...

Christopher Giancarlo aka CryptoDad was speaking at a panel that the American Enterprise Institute hosted and contended that the Federal Government must initiate measures to bridge the gap in Blockchain-driven technology, especially cryptocurrency, bringing revolutionary changes in the global financial regimens. advertisement Broadbandbreakfast.com quoted the professor saying, “China’s  central bank  may create a central digital currency in the near future, and other nations’ central banks are likely to create their own digital currencies in response.” J. Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission, has an idea for unifying cryptocurrency regulation in the U.S.https://t.co/WgBY61n3Oa — Michael (@val5linx) January 5, 2022 Trending Stories ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead Bitcoin News PEPE ...

The Backdrop: Binance and Russia Binance ’s relationship with Russia has seen turbulent waves in recent months. Following the commencement of Russia ’s actions in Ukraine , the exchange voiced a reduction in its dealings within the Russia n territory. This appeared to align with the European Union’s robust sanction directives.  advertisement Yet, skepticism surrounds Binance’s actual implementation of these limitations. Critics have raised concerns over the company’s multi-layered intermediary system, suggesting it could be a potential avenue for sanctioned Russian entities to convert their funds into Binance balances covertly. The severity of these implications was underscored by revelations that Binance’s peer-to-peer platform had listed major sanctioned Russian banks , such as Rosbank and Tinkoff Bank, as viable payment options. Such associations have not gone unnoticed, with the U.S. Treasury Department express...