Month: March 2023

• MetaMask has warned its customers about “false rumors” about a non-existent airdrop that has been circulating on social media.
• The warnings were issued after Joe Lubin emphasized his company’s plans to decentralize MetaMask and distribute a token.
• There was a surge of interest in MetaMask following the reports of an airdrop back in November 2021.

MetaMask Warns About Fake Airdrop Claims

Operator of the web3 wallet known as MetaMask has warned its customers about “false rumors” regarding a non-existent airdrop that has been spreading on social media. They mentioned “quite a few false rumors” about an upcoming snapshot or airdrop taking place on March 31st, amidst controversies surrounding recent airdrops.

Rumors Triggered by Joe Lubin’s Speech

The new reports may be linked to the “fireside chat” session by ConsenSys CEO and Ethereum co-founder Joe Lubin which took place on March 14th at ETHDenver 2023. During this session, he highlighted his company’s efforts to decentralize MetaMask and stated their plans to distribute tokens. This led to an increase in activity on Metamask due to people believing there would be an imminent airdrop.

Warning Against Fake Sites

MetaMask team issued the warning against false rumors and encouraged users to be aware of fake sites that may appear in the days ahead. They also reminded everyone that these rumors are not only false but dangerous as they provide opportunities for scammers and phishers who could take advantage of unsuspecting users.

Similar Surge Amidst Previous Airdrops

This is not the first time there is such an increase in interest surrounding MetaMask due to reports of an impending token distribution – it had occurred before during Ethereum Name Service’s (ENS) recent airdrops and later when Lubin made his announcement about tokens being distributed from his company.

MetaMask Launches Mobile V6 for Increased User Control & Privacy

Following these developments, MetaMask recently launched Mobile V6 for more user control and privacy – allowing individuals greater autonomy over their digital assets stored within their wallets or other smart contracts connected with them through dapps (decentralized apps).

• Riot Platform rebranded and removed “Blockchain” from its business name
• Riot Platforms collected $27.3 million in power credits in 2022
• By 2023, Riot anticipates to increase its hash rate capacity to 12.6 EH/s using 370 MW of electricity

Riot Platform Rebrands

Formerly known as Riot Blockchain, bitcoin infrastructure specialist Riot Platform is a publicly listed bitcoin mining and blockchain technology firm. After losing more than 60% of its value over the past year, Riot Platform rebranded as Riot Platforms and removed “Blockchain” from the business name.

2022 Financial Results

Rising bitcoin output and a full year of data center hosting and engineering revenues pushed Riot’s overall revenue in 2022 up to $259.2 million from $213.2 million the previous year. By bolstering the ERCOT infrastructure in Texas, the firm collected $27.3 million in power credits.

2023 Roadmap

The bitcoin miner plans to survive in the crypto market by expanding into related industries. By building up an infrastructure fit for an industrial scale and recruiting miners of the current generation, Riot Platform is increasing the size and quality of its mining operations. With the planned supply and deployment of more miners, Riot Platform anticipates increasing its currently deployed hash rate capacity of 4.6 EH/s (using roughly 136 MW of energy) to 12.6 EH/s by Q1 2023. An important aspect of Riot Platform’s strategy to expand its hash rate and infrastructure capacity is the purchase of modern mining hardware with over 116,150 cutting-edge S19 series miners aimed at amassing a staggering 12.6 EH/s in self-mining hash rate by end 2023 with around 370 MW used for electricity consumption .

Immersion Cooling Technology

The newest immersion-cooling technology will also be implemented by Riot platform which helps cool down their machines efficiently without needing additional electric fans or other cooling systems which reduces cost significantly while maintaining optimal performance levels at all times .

Conclusion

Overall, with this rebranding effort along with strong financial results coupled with their expansion plan including new modern hardware purchases , immersion cooling technology implementation , etc , we can expect this publically listed bitcoin mining firm to continue making great strides through out 2023 .

• ArenaDAO’s governance token, Arena (ARENA), experienced a 90% surge in the past 24 hours.
• Paradigm has proposed to purchase 150 million tokens or 15% of the total supply for $6 million USDC.
• Code4rena is an audit platform that organizes security contests and pays out guaranteed prizes.

Arena Token Surges 90% Amid Paradigm’s Investment Proposal

Price Surge

ArenaDAO’s governance token, arena (ARENA), experienced a significant surge in value, jumping 90% in the past 24 hours. This follows the opening of ArenaDAO’s vote to authorize Paradigm, a crypto native investment firm, to purchase 150 million tokens or 15% of the total supply for $6 million USDC. As of March 17, the fully diluted valuation of ARENA sits at $101.6 million, but at Paradigm’s purchase price, the token had a fully diluted valuation of $40 million. The token’s 24-hour volume is currently at roughly $100,100.

Working Capital for DAO

The proposed sale of $6 million to Paradigm will be used as working capital for the DAO to grow Code4rena. This audit platform organizes security contests for smart contracts and offers guaranteed payouts for audit contests. The vote will end on March 23 and thirteen addresses have voted unanimously so far to allow the DAO to sell its tokens to Paradigm. According to data from blockchain analytics company Nansen, the number of unique addresses holding ARENA has increased by 10% since Monday.

Paradigm’s Involvement with Code4rena

Paradigm’s hands-on approach to blockchain safety is highlighted through its involvement with Code4rena and its web3-focused security competition, Paradigm CTF. Last week, reports indicated that Paradigm had potentially over $5 billion funds held in custody by collapsed Silicon Valley Bank (SVB).

Increased Security Measures

In 2022, $3.8 billion was stolen from DeFi protocols in hacks which highlights how important it is improve security measures in order to protect users funds from hackers or malicious attackers .Code4rena’s leaderboard shows that 46 users earned more than $40K last year uncovering vulnerabilities which demonstrates why having an effective security audit system is essential within smart contracts projects

Conclusion
The author expressed excitement about having Paradigms expertise help Code4rena achieve its shared mission making web 3 ecosystem more secure .The proposed sale of 6M USDC will be use as a working capital for DAO grow code 4 rena .Since ArenaDAOs on chain voting period thirteen addresses have voted unanimously allowing them selling their tokens .

• Blockchain.com Asset Management (BCAM) has suspended its operations due to the prolonged crypto winter.
• The firm launched the subsidiary in April 2022, but faced a rough patch shortly after with asset prices rapidly plummeting.
• Blockchain.com made several milestones during the crypto winter, such as receiving registration in multiple countries and partnering with Visa to issue a crypto card in the US.

Blockchain.com Suspends Asset Management Arm

Blockchain.com, a crypto services company, is suspending operations of its asset management subsidiary due to the ongoing crypto winter which has lasted for over a year now. The London-based subsidiary was operational for less than a year and had applied to be removed from the United Kingdom companies register on March 5th this year without having filed its first annual account yet.

Asset Management Subsidiary Launched

The parent company of Blockchain.com founded in 2011 opened their new asset management subsidiary shortly after receiving funding that increased its valuation to $14 billion on Terminal and potentially even more soon on web too. This arm was intended to manage portfolios using Blockchain technology and promised to offer regulated crypto investment products for institutional investors, family offices, and high-net-worth individuals when it launched in April 2022.

Crypto Winter Hits Crypto Industry Hard

Unfortunately, shortly after launch, the industry hit a rough patch with asset prices plummeting rapidly due to bankruptcy of crypto lender Celsius Network and other prominent firms within the space falling too at around this time last year leading into what is known as ‘crypto winter’ – an extended period of bearish market conditions across all markets related to cryptocurrency or blockchain technology investments or activities.

Milestones Achieved During Crypto Winter

Despite these trying times, Blockchain managed several milestones throughout 2022 such as receiving registration in multiple countries throughout 2022 including entering into custody agreement with Anchorage Bank & other trading platforms in June before partnering with Visa shortly afterwards to issue a crypto card in the United States by October last year – allowing users access funds through their Visa debit cards anywhere that accepts Visa cards worldwide while earning rewards points too!

Decision To Pause Institutional Product Operations

With no end seemingly approaching for this bear market conditions within the space just yet – BCAM has made business decisions recently such as letting go 28% of its workforce back in January before pausing its institutional product operations altogether now apparently citing these circumstances around cryptocurrencies being difficult currently for them hence making this decision necessary for them right now unfortunately!

• Ethereum developers have launched a new software feature called EntryPoint that enables wallets to act as smart contracts.
• The new feature, known as account abstraction, allows wallets to handle complex tasks without user interaction with the underlying blockchain.
• The EntryPoint contract needs to be thoroughly audited and formally verified in order for account abstraction across various blockchain networks like Ethereum, Polygon, Arbitrum, and BNB Chain to be secure.

Ethereum Introduces EntryPoint

Ethereum (ETH) developers have announced the launch of a new software feature called EntryPoint. This feature allows wallet accounts to function as smart contracts, enabling users to benefit from advanced features such as automated payments and account recovery more quickly.

What is Account Abstraction?

Account abstraction is an optional feature offered by crypto wallet providers that enables wallets to handle complex tasks automatically without requiring users to interact with the underlying blockchain. It is designed to improve the user experience of crypto wallets and make them more accessible and intuitive.

EntryPoint Security Audit

After undergoing a comprehensive security audit by OpenZeppelin, EntryPoint was released on various blockchain networks including Ethereum, Polygon, Arbitrum, and BNB Chain. The safety of this architecture hinges on how securely it is implemented in the one contract – hence why it needs to be heavily audited and formally verified before use.

Smart Wallet Features

Entrypoint will enable account abstraction on all those ethereum-based protocols which will then allow wallet infrastructure providers to offer more options for smart wallet features such as native multi-signatures, account recovery and gas fee coverage for users.

Conclusion

The launch of Entrypoint marks a significant improvement in the usability of cryptocurrency wallets by making them more accessible and intuitive. This is made possible through its ability to enable smart contracts on wallet accounts which can facilitate automated payments, two-factor authentication recovery options and other advanced features that streamline user experience when handling cryptocurrencies like Ethereum.