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Polygon co-founder: $1B bet on ZK-rollups paying off
Polygon has allocated an estimated $1 billion on zero-knowledge technology underpinning its Ethereum scaling layer-2 solutions. Polygon co-founder Sandeep Nailwal believes the layer-2 blockchain firm is reaping the benefits of allocating $1 billion to develop zero-knowledge (ZK) proof-powered scaling solutions for the Ethereum ecosystem. Speaking at a keynote address during the latest edition of the…
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Ponzi vs. pyramid schemes: What’s the difference?
Ponzi schemes promise returns generated from the money of future investors, while in pyramid schemes, income flows up through recruitment. Ponzi vs. pyramid schemes Both schemes defraud investors by making alluring but false promises, and the majority of participants ultimately suffer large financial losses. Individuals can protect themselves from these fraudulent schemes by understanding their…
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North Korea’s Lazarus Group responsible for $55M CoinEx hack: Report
Security firm SlowMist estimated that at least $55 million in digital assets were taken by the CoinEx hackers. The attack on crypto exchange CoinEx, which drained at least $55 million, was carried out by the North Korean hacker group Lazarus, according to blockchain security firm SlowMist and on-chain investigator ZachXBT. The hacker group was identified…
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Grammy CEO clarifies AI Drake song ineligible for award over copyright issues
The Record Academy executive clearly stated that the track is “not eligible” and cited that the vocals were not legally obtained nor were they cleared by the label or artist. The CEO of the Recording Academy, which hosts the yearly Grammy Music Awards, has cleared up misconceptions regarding the eligibility of an artificial intelligence (AI)-generated…
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Gemini Earn users could recover all funds in new DCG remuneration scheme
DCG suggests a new deal in Genesis bankruptcy, offering unsecured creditors 70%–90% baseline recovery; if approved, it would involve the renegotiation of a $630-million loan between Genesis and DCG. Digital Currency Group (DCG) has proposed a new agreement plan for the creditors of the now-bankrupt Genesis Global that would also see Gemini Earn users recover…
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Bitcoin price reacts as 3.7% CPI sees inflation jump beyond forecasts
BTC’s price clings to $26,000, with Bitcoin traders braced for the Wall Street open, following the latest CPI report. Bitcoin (BTC) saw snap volatility on Sept. 13 as United States macroeconomic data showed inflation beating expectations. BTC/USD 1-hour chart. Source: TradingView Fuel, shelter boost August CPI beyond target Data from Cointelegraph Markets Pro and TradingView…
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Are real world assets set to take market share?
The blockchain has seen many narratives over the years. Some of these have turned into actual use cases and continued with strength. The blockchain has seen many narratives over the years. Some of these have turned into actual use cases and continued with strength. But there is a new kid on the block, and they…
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BNB Smart Chain Optimism-powered layer-2 opBNB hits mainnet
Binance’s Ethereum layer-2 scaling platform, opBNB, is now publicly available, following extensive testing of the OP Stack-based platform. The BNB Chain blockchain ecosystem is set to tap into Optimism’s rollup technology, powering its newly launched opBNB layer-2 scaling platform. BNB Chain announced the public mainnet launch of its Ethereum Virtual Machine (EVM)-compatible L2, which delivers…
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Are DAOs overhyped and unworkable? Lessons from the front lines
Many contend that DAOs have failed to deliver on their promises, but developers are coming up with novel solutions. Ask 10 different people to define a decentralized autonomous organization (DAO), and youll likely get 10 different definitions. But there is at least one thing most agree on: DAO governance is a mess. At best, its…
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