Chain News by Thebittimes.Com

Web3 offers a transformative online space, yet its complexity hinders adoption. Can leveraging content make Web3 more accessible and drive its adoption? ReadON brings high-quality content to Web3 by providing a seamless and user-friendly experience, helping projects build stronger relationships with their users and driving the adopt ion of decentralization. While Web3 holds the promise of mitigating the drawbacks of Web2, its adopt ion remains sluggish among content creators and end users alike. The reluctance of users to adopt Web3 is due to a confluence of factors, the most important of which is the perceived complexity of the Web3 ecosystem. Navigating the intricate maze of Web3 operations, which involves managing multiple wallets, chains, bridges, and pools, is a daunting challenge for users, hindering their engagement and leading to poor user retention. This low user engagement is further exacerbated by the lack of immediate, tangible benefits for content creators and Web3 pro...

SudoRare suddenly shut down its services and social media accounts after reportedly making away with 519 Ether, worth roughly $815,000. SudoRare, an automated market maker (AMM) protocol for ERC-721 to ERC-20 swaps, suddenly shut down its services and Social Media accounts after reportedly making away with 519 Ether (ETH), worth roughly $815 ,000.  A crypto community member, sungjae_han, was first to point out a suspicious transaction that drained substantial funds off SudoRare using LooksRare (LOOKS) and USD Coin (USDC) tokens. #PeckShieldAlert #rugpull Seems like @SudoRare rugged 519 $ETH (~$815k). SudoRare already deleted its social accounts/groups, sudorare[.]xyz is down Stole funds already transferred to 3 new addresses (173 $ETH/address): 0x75c3b2...3981 0x0498d1...8074 0xbFb784...7EAa https://t.co/mPC4bl4k6W pic.twitter.com/O5D7jThYvm — PeckShieldAlert (@PeckShieldAlert) August 23, 2022 A subsequent intervention from Blockchain investigator Peckshield hinted toward the pos...

This new relation-based Web3 protocol integrates decentralized social graphs, identity and AI to add social context to Web3 profiles. Focusing too much on the tokenization of assets instead of encoding social relationships of trust was a key complaint regarding the current state of Web3 that found a clear voice in a mid-2022 paper published by Ethereum co-founder Vitalik Buterin along with E. Glen Weyl and Puja Ohlhaver. Titled “De centralized Society: Finding Web3's Soul,” the paper explores soulbound tokens (SBTs), a unique form of nonfungible tokens (NFTs) that represent the credentials of a user. Nontransferable by design, SBTs have the potential to play a key role in building a de centralized society , according to the authors. However, while an SBT verifies an individual’s credentials, affiliations and commitments, it lacks the social context required for a de centralized society — representing only half the answer by itself. Decentralized social graphs act as a bridge b...

Join Our Telegram channel to stay up to date on breaking news coverage As Tora Inu continues to draw crowds to its ongoing presale, experts predict $TORA to chart a bull run similar to Rich Quack next year. However, $TORA will prove to be a better investment if the project’s ambitious roadmap is any indication. Get in the #ToraInu beta sale before it’s sold out! ️$125,000 has been raised in under 24 hours️ Next phase will be 50% more expensive so early buyers get the best price per token Buy Now https://t.co/JH8xBKDbDM pic.twitter.com/kFPhfkwLAT — Tora Inu (@torainucoin) October 20, 2022 How Rich Quack Reimagined Meme Coins  Rich Quack was launched in 2021 as a competitor to meme coin projects like Dogecoin. This was a time when meme coins were primarily driven by community strength, with little focus on utility and value. The token has come a long way since that and currently fuels a community-driven project designed for automatic liquidity. Rich Quack all-time pri...