Tag: Protocol

Perpetual Protocol emerges as sixth-largest DEX after just one month

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Perpetual Protocol, a DeFi project offering decentralized perpetual contracts using the layer-two Ethereum scaling solution xDai, has emerged as the sixth-largest DEX by weekly trade volume after operating for only one month. Based on data from Dune Analytics shared by Perpetual Protocol, the DEX’s weekly trade volume of more than $299 million would rank the project above the likes of Synthetix, dYdX, and Kyber, and below Balancer. The milestone was shared in a blog post celebrating the project’s first month of operation — a period in which the DEX drove…

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Building a Decentralized and Uncensorable Internet — The Nexus Protocol – Press release Bitcoin News

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PRESS RELEASE. On December 21st, 2020, the Nexus Protocol white paper was released. The new internet will be driven by a blockchain-based operating system (LX-OS) and communications protocol (Nexus Protocol), that will be connected by a distributed satellite-based mesh network. The white paper contains technical specifications and mathematical models that showcase and prove the viability, value proposition, and practicality of this novel architectural framework. Network Architecture Web 3.0 or Decentralized Web (DWeb), has been coined as the next evolution of the internet, with the promise of emancipating digital communication by…

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Ethereum competitor Near Protocol (NEAR) gains 106% as DeFi heats up

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Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token holders to stake their coins.  In the past month, NEAR has rallied by 107% and this raises questions on whether the project is making significant strides in what has become an ultra-competitive smart contract industry. NEAR/USDT (Binance). Source: TradingView Compared to its competitors, NEAR is a relatively new project as the mainnet only launched…

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DeFi coverage protocol expands protection against centralized exchange hacks

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DeFi coverage protocol Nexus Mutual expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase and Gemini are now able to buy protection in the event of an exchange hack or prolonged withdrawal downtime. The project announced the new integrations on Monday as part of their “custody cover” initiative. Users who buy coverage will be eligible for compensation if the custodian gets hacked and the user loses more than 10% of their funds. Alternatively, the claim can be honored if the custodian suspends withdrawals…

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Is Defi Coming to Bitcoin Cash? An Overview of Detoken and the Anyhedge Protocol

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Maybe you’ve heard of Anyhedge. Last April, news.Bitcoin.com published an article about its announcement, but what is it really? What does it do, and how’s it work? The Anyhedge Protocol Anyhedge is an open-source protocol. It is simply a way to use the blockchain (in this case, the Bitcoin Cash blockchain) to create a specific type of smart contract. The smart contract here is a “hedge” where the hedge is between Bitcoin Cash (the underlying asset of the BCH blockchain) and any other asset. Hence, the name “Anyhedge”. I wanted…

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Immutable Ethereum privacy protocol proposes governance system

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Tornado.Cash, the Ethereum mixing service that earlier this year implemented completely immutable smart contracts, has proposed a governance system powered by its own TORN tokens. According to a Dec. 18 post, the proposal will put stewardship of the protocol in the hands of its community of users. An initial distribution of 10 million TORN will be split between early users and developers, a DAO treasury and anonymity miners over the course of the next five years. Anonymity miners increase the efficiency of the service, and act by providing liquidity in…

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Terra Protocol (LUNA) rallies 66% after DeFi and stablecoin launch

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Throughout 2020 a handful of new stablecoins launched and many analysts have suggested that stablecoin growth is the backbone of the crypto sector and partially responsible for the current Bitcoin rally. For many traders, stablecoins provide a safe place to shelter during volatile periods in Bitcoin and altcoins but there are other ways to interact with these fiat-pegged assets. Terra Protocol aims to create a programmable algorithmic stablecoin available on every blockchain. Similar to its better-known competitor, Maker (MKR), Terra Protocol has a native stabilizing crypto-asset called LUNA. The project…

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Baseline Protocol unveils Ethereum interoperability, deployment will take time

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Enterprise blockchain applications are slowly but surely making their way to public networks, especially as new upgrades and features are being implemented into the Ethereum ecosystem. While Eth2 promises to bring scalability, security and capacity across the Ethereum network to advance enterprise use cases, other techniques are being developed to help enterprises properly leverage the Ethereum network.  For example, the Baseline Protocol is a set of techniques using advances in peer-to-peer messaging, zero-knowledge cryptography and blockchain to coordinate complex and confidential workflows between enterprises. While the Baseline Protocol can be…

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Researchers say Ripple’s protocol ‘may fail badly’

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Researchers from the University of Bern have released a report claiming Ripple’s consensus protocol “ensures neither safety nor liveness.” In a blog posted yesterday from the university’s Cryptology and Data Security Research Group, researchers Christian Cachin, Amores-Sesar, and Jovana Mićić released an analysis alleging the payment firm’s consensus protocol could allow users to potentially “double-spend a token” and halt the processing of transactions. The trio set up examples of the Ripple protocol using different numbers and types of nodes to illustrate possible violations of safety and liveness (a term for…

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xSigma DeFi Is a Game Changing Protocol Backed by a NASDAQ Listed Company

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The DeFi ecosystem has been growing faster than anyone can keep up with recently. Billions of dollars in digital assets are invested, despite all the problems the current services suffer from. Buggy code, security vulnerabilities and shady anonymous developers are just some of the issues that can make the DeFi space too risky right now. Luckily this is all about to change as xSigma is releasing a new DeFi DEX protocol, in a first entry into the field of a project backed by a NASDAQ-listed company. xSigma to Usher In…

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