Category: blockchains – Page 13
Decentralized finance is built on blockchain technology, an immutable system that organizes data into blocks that are chained together and stored in hundreds of thousands of nodes or computers belonging to other members of the network.
These nodes communicate with one another (peer-to-peer), exchanging information to ensure that they’re all up-to-date and validating transactions, usually through proof-of-work or proof-of-stake. The first term is used when a member of the network is required to solve an arbitrary mathematical puzzle to add a block to the blockchain, while proof-of-stake is when users set aside some cryptocurrency as collateral, giving them a chance to be selected at random as a validator.
To encourage people to help keep the system running, those who are selected to be validators are given cryptocurrency as a reward for verifying transactions. This process is popularly known as mining and has not only helped remove central entities like banks from the equation, but it also has allowed DeFi to open more opportunities. In traditional finance, are only offered to large organizations, for members of the network to make a profit. And by using network validators, DeFi has also been able to cut down the costs that intermediaries charge so that management fees don’t eat away a significant part of investors’ returns.
Lately, there’s been no shortage of talk about the transition to Web3, a new digital frontier powered by blockchain and accessible via decentralized applications (dapps). But while many of the products created thus far are groundbreaking — offering verifiable digital ownership and access to new financial instruments — they still haven’t managed to galvanize mainstream adoption yet.
To reach critical mass, the blockchain industry needs to ensure that platforms and services are easy to use as their current-gen counterparts. ## **We aren’t there yet**
The current landscape of the internet is still very much grounded in Web2 architecture. While users can access a range of services, each requires its own unique username and password and third-party platforms are typically still needed to process payments. While this model has ostensibly worked well enough for the past two decades, it’s been mired by the centralized control of big tech companies, which thrive on selling user data.
Power to the Players
Posted in blockchains
Walter Lynsdalein russia they aren’t even respecting traditional IP laws, “ok you can copy western IP as a sanctions workaround”. I doubt they’ll respect NFTs. there’s a broader issue than “distributed vs centralised”.
The only way to really own something is to kee… See more.
Csaba HoffmannJust a couple of months now and we will see how it compares to the “legacy” system.
Elon talks about x-risks and making us a multi-planetary species, amongst other things.
Ah, NFT’S. I genuinely am not sure how I feel or think about them, though I DEFINITELY lean towards an annoyed 🤔MEH🙄.
What I DO know is that this is a great, brief look at the legal aspects of the issues surrounding it and the thing itself.
Thoughts?
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BlackRock announced on Wednesday its new iShares Blockchain and Tech ETF (IBLC), which allows investors to gain exposure to the blockchain sector without any direct investments in cryptocurrencies.
The exchange-traded fund tracks US and international companies involved in the “development, innovation, and utilization of blockchain and crypto technologies,” BlackRock said. Currently, the fund has over $4.7 million in net assets across 34 holdings, excluding cash positions and derivative exposures.
The ETF is a “gradual entry point into the blockchain ecosystem” and includes holdings like crypto exchanges, crypto miners, and underlying technologies, said Rachel Aguirre, BlackRock’s head of US iShares product, at a Wednesday panel event.
Meetups occur every day at 10 p.m. Central European Time. Users gather in Somnium Space’s city center, known as City Plaza, which is next to Somnium’s virtual headquarters. Events there include open-mic nights, concerts, and developer meetups.
Making money in Somnium Space
Somnium Space isn’t all socialization. Many players are making money by creating and selling NFT avatars.
The US government has detailed how North Korean state-sponsored attackers have been hacking cryptocurrency firms using phishing, malware and exploits to steal funds and initiate fraudulent blockchain transactions.
The Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the U.S. Treasury Department (Treasury) have issued a joint cybersecurity advisory to warn all businesses in cryptocurrency to watch out for attacks from North Korean state-sponsored hackers.