European Parliament Votes in Favor of Challenging Smart Contract Immutability

• The European Parliament has voted in favor of proposed legislation that will challenge the immutability of smart contracts.
• The legislation was passed with 500 votes in favour and 23 against, and could affect decentralized finance (DeFi).
• Confusion and uncertainty have been raised over the Data Act, with critics saying it would be „impossible to comply.“

Details on Proposed Legislation

Under the new Data Act, smart contracts will be subject to „harmonized standards“ defined in the Act. Article 30 includes provisions such as „rigorous access control mechanisms at the governance and smart contract layers“ and protections of trade secrets integrated into the design of smart contracts. Smart contract developers may need to design reset possibilities to allow termination or interruption of transactions.

Criticism Over New Regulations

The revised version of the bill has drawn criticism from the DeFi community, who say it would be „impossible to comply.“ Thibault Schrepel, an associated professor at VU University Amsterdam, said Article 30 does not provide clarity as to who should be able to ‚terminate the continued execution of transactions.‘ Is it the creator of the smart contract? Public authorities? Courts?

Implications for Crypto Industry

Although not directed specifically at crypto, this proposed legislation could have implications for cryptocurrency industry. The regulations mean that smart contracts must be designed with a possibility for them to terminate or interrupt transaction mechanisms. This could create confusion among users about which rules apply for their use cases and add another layer of compliance onto blockchain projects.

Conclusion

With 500 votes in favour and 23 against, this proposed legislation is set to challenge immutability within smart contracts, potentially impacting DeFi projects. Critics have raised confusion over this bill due its lack of clarity around certain provisions such as who should be able terminate or interrupt transaction mechanisms within a smart contract. It remains unclear what implications this bill might have on cryptocurrency projects within Europe but it is likely that further clarification will come in time.

• Online payment fraud increased 14% in 2021, reaching over $20 billion.
• 46% of organisations reported experiencing fraud, corruption or economic crimes in the last 24 months.
• Web2.0 platforms created new opportunities for cybercrime, but were unable to provide effective identity verification solutions.

Rise of Cybercrime

In 2021, online payment fraud grew 14%, from $17.5bn to over $20bn. At the same time, 46% of organisations surveyed by PwC reported experiencing fraud, corruption, or economic crimes in the last 24 months, with 70% of those coming via an external attack or collusion. There are hundreds of different statistics that all mark the same point: the internet can be a dangerous place where there’s money changing hands.

Threats Faced by Remote Workers

When you compound that with the rise of remote working, new digital security issues and corporate information policies have surfaced as data appears more exposed than ever. Cybercrime has surged over the last decade, as more and more platforms create new opportunities for digital thieves and hackers to scam and swindle at will. It is thought that around 40%, though likely more, of all global fraud is platform fraud originating on social media, streaming services and marketplaces – anywhere that a user can attempt to build trust or make communications there is an opportunity for cybercrime to take place.

What Did Web 2.0 Get So Wrong?

The Internet was never designed to be secure internally; it assumed that if you were on the network you could be trusted nor was The World Wide Web designed to be secure – it was just a way of making data stored for public consumption on The Internet accessible. With Web 2.0 came vast numbers of users consuming often ephemeral services which needed monetizing; this led companies relying heavily on data and advertising based on said data which opened up many potential vulnerabilities for cybercriminals who could exploit them without any difficulty due to inadequate identity verification solutions provided by web 2.0 companies .

Data Privacy & Security Issues

Our identity should be ours and it should be possible to verify our identity online as effectively as we do at passport control- but web 2 never figured out how to achieve this without giving away their control over our data meaning we suffer from asymmetric & deeply flawed systems which rely more heavily on assumptions & inference than actual data such as SMS codes , uploading IDs ,or taking selfies which do little protect us but they do help build valuable datasets .

Conclusion

Web 2 brought along with it much convenience but also numerous threats when it comes to cyber security due its inability to properly provide sufficient identity verifications solutions leaving consumers vulnerable & exposed despite various attempts at protection through SMS codes etc . As technology advances so must our understanding & implementation of secure methods otherwise we shall remain stuck in this increasingly insecure world wide web .

Huobi Joins BTTC Ecosystem

• Huobi, a virtual asset trading platform, announced to join the BTTC (BitTorrent Chain) ecosystem and to support the development of a layer 2 network based on BTTC.
• BTTC is a cross-chain solution that enables seamless asset exchange through digital asset connectivity of mainstream public chains such as Ethereum, TRON and BNB Chain.
• By supporting the L2 network developments of mainstream public chains including Ethereum and TRON, Huobi provides an open, secure and diverse environment for all relevant developer teams.

Overview of BTTC

BTTC is a layer 2 solution for Ethereum, TRON and BNB Chain which was launched in December 2021 with ZK (Zero Proof of Knowledge) technology to be introduced later this year. This enables users to build decentralized applications anywhere and provides a secure, low-cost and fast development environment for dApps, thus creating an on-chain open ecosystem. At its core, BTTC is a cross-chain solution that enables seamless asset exchange through digital asset connectivity of mainstream public chains such as Ethereum, TRON and BNB Chain, spanning a super network linking all blockchains.

Huobi’s Contribution to BTTC

The addition of Huobi to the BTTC ecosystem will further promote the development and usage of decentralized applications on chain and enhance the exchange’s own ecosystem. Huobi has over 50 million users across the globe with over $100 trillion in cumulative assets traded which can provide virtual asset trading services to hundreds of millions or even billions of users worldwide through the BTTC L2. As per H.E Justin Sun who is part of Huobi global advisory board joining this ecosystem reflects industry’s focus on L2 developments creating an ever changing network for quality digital assets ensuring free flow value created by crypto usage .

Brand Upgrade

In November 2022 ,Huobi completed its brand upgrade ,launching new growth strategy so as to promote responsible use crypto for wide range users ,educating more people about everyday crypto adoption by introducing them to ever changing network quality digital assets .

Conclusion

By joining forces with BTTC ,Huobi will be able provide access best projects available out there enabling blockchain developers serve great number verified users thereby connecting voluminous digital assets worldwide . This will enable massive growth in crypto user base worldwide estimated 320 million according report released by Huobi research institute at end 2022 .

• Waifusion is a non-fungible token collection built on the Ethereum network launched in March 2021.
• The total number of owners has reached 2215, with 9,718 collections sales made at an average price of 0.31 ETH (~$536.28).
• The market capitalization of Waifusion is 198.91 ETH and it’s payment tokens are ETH, DAI, WETH, USDC.

What is an Waifusion?

Waifusion are a non-fungible tokens collection built on the Ethereum network launched in 1 March, 2021. 16,379 items of the Waifusion collection can now be viewed at OpenSea.

How many owners does the Waifusion collection have?

The total number of owners has reached 2215 within 718 days since its release.

Price and Sales

The market capitalization of Waifusion NFT collection is 198.91 ETH. Since created the Waifusion, 9,718 collections sales were made at an average price of 0.31 ETH (~$536.28 at the time of writing). This created a total volume in 3,053.133 ETH. The floor price of Waifusion is 0.0198 and the 30-day trading volume is kept at 0.66 ETH. The payment tokens of the Waifusion collection are ETH, DAI, WETH, USDC.

Why are some NFTs expensive and others not?

NFTs are very new to the blockchain ecosystem and are still in their infancy. It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT. NFT projects that started at the beginning of the market boom have garnered legitimacy purely because they had a first-mover advantage These „established“ NFT projects have also had the opportunity to improve and learn from the issues that have plagued the NFT market and have made themselves more valuable when when compared to those created out greed for exploitation purposes without any real value proposition attached to them

Is The Waifusions Collection Over or Underpriced?

It is difficult to determine whether NFTs from the Waifusions collection are overpriced or underpriced as it will become clearer when more information about how it’s being developed by its creators and community becomes available to make a better assessment on its pricing

Waifusions NFT Collection Examples & Fees

Examples include ‚Waifulision #0‘, ‚Waifulision #1‘, ‚Waifulision #2‘ & ‚Waifulision #3‘. Buyer fee to dev: 0 basis points Seller fee to dev: 400 basis points Buyer fee to opensea:io: 0 basis points Seller fee to opensea:io 250 basis points Buyer fee: 0 basis points Seller fee: 400 basis points

• ChainwireMessari released two reports on the State of TRON and the State of USDD for Q4 2022.
• The report highlighted that USDD saw continued growth in Q4 2022, driven by its stability, low volatility, and ease of use.
• The second report analyzed the overall performance of TRON, which was designated as the official protocol for Dominica’s national blockchain infrastructure.

Overview

ChainwireMessari, a leading provider of blockchain research and data analysis, has released its quarterly reports on the State of TRON and the State of USDD for the fourth quarter of 2022.

State Of USDD

Their first report, „State of USDD Q4 2022,“ showcases performance of USDD, a stablecoin pegged to US dollar managed by the TRON DAO Reserve. This growth was primarily driven by increasing demand for stablecoins as safe haven for investment and cross-border transactions. Key advantages include stability, low volatility and ease of use which have made it an attractive option for individuals and institutions alike. Wallets on TRON holding USDD had only 8% increase in Q4 while TRX balances in TRON DAO Reserve remained same from Q3 to Q4. Partnerships with Travala (travel booking platform) which now accepts USDD payment are indication towards growing adoption.

State Of Tron

The second report – “State Of Tron Q4 2022” – analyzed performance of public open-sourced blockchain network using Delegated-Proof-Of-Stake consensus mechanism powered by Tron Virtual Machine (TVM). Unlike Ethereum it uses energy & bandwidth instead if gas for validations & offers developers cheaper smart contract execution & Solidity is programming language used by Tron. Commonwealth Of Dominica designated Tron as official protocol for its national blockchain infrastructure & approved seven new tokens previously issued on Ethereum or Binance Chain to be reissued on Tron Blockchain during this period while ETH transactions fees remain higher than TVM’s transaction fees since launch making it more attractive to developers looking to switch from Ethereum ecosystem due to cost savings in development & deployment.

Advantages Of Usdd And Tron

The key advantages offered by both USDD and TRON are their stability, low volatility and ease of use which have made them attractive options for individuals & institutions alike. In addition, lower transaction costs compared to Ethereum makes TVM more attractive to developers looking to switch from the Ethereum ecosystem due to cost savings in development & deployment .

Conclusion

In conclusion , both USDD & TRON have seen steady growth despite crypto winter primarily due their advantages such as stability ,low volatility & ease if use which make them attractive options . Moreover , lower transaction costs compared with Ethereum makes TVM more appealing .

• Mastercard’s former NFT product lead Satvik Sethi resigned and made public allegations of workplace mistreatment.
• Sethi sold his resignation letter as an NFT to support himself due to pay cuts from Mastercard.
• Following his resignation, Sethi is soon to lose his British work visa and will have to fall back on India for the foreseeable future.

Mastercard’s Former NFT Product Lead Resigns

Payments tech firm Mastercard began its foray into NFTs sometime in 2021, but has faced controversy when Satvik Sethi, its former NFT product lead, made public allegations of workplace mistreatment as he resigned.

Resignation Letter Sold As An NFT

In a coup de grâce move, Sethi minted and sold his resignation letter as an NFT. Reports had previously detailed how Mastercard has partnered with other crypto firms such as Coinbase, even going forth with the acquisition of digital asset analytics firm CipherTrace.

Allegations Of Mistreatment And Pay Cuts

Sethi railed against the payments tech giant for allegedly mistreating him and downplaying his role in the company’s ambition to enter the crypto space. He claims that Mastercard cut out his salary package by 40%, this occurring during the recent bear cycle and industry-wide decline in NFTs; coinciding with his decision to move from New York City to London. He also shared how he „had to work side jobs this past year to make ends meet“ because of the pay cuts, making further claims that there were instances when he had to beg „across the hierarchy“ of Mastercard just to receive his salary. Additionally, he asserted that he was harassed by management due to „a series of mismanaged processes, miscommunication [and] internal inefficiency.“

Support Requested Through The Minting Of An NFT

After resigning, Sethi asked followers on Twitter to support him through the minting of an NTF: His own resignation letter. The NFt was minted for 0.023 ETH with all funds raised going towards survival costs.

Losing British Work Visa

Following these events, Sethi is soon set lose his British work visa; requiring him o fall back on India for any foreseeable future endeavors in regards o employment or residency status abroad

• Threshold Network, a decentralized organization that addresses the privacy and security concerns in the blockchain space, has seen its utility and governance token, T, rise 146% in the weekly.
• On January 26th, Coinbase announced the support for the Threshold token, enabling the token to gain momentum in the retail investor space.
• The T token is a cryptocurrency that serves multiple purposes, including payments, influencing the direction of the project, and staking for interest and other incentives.

The Threshold Network is a decentralized organization that has been making waves in the blockchain space. Launched from the merger of NUCypher and KEEP Network, the network was created to address the myriad of privacy and security concerns in the blockchain space. As the network has grown in popularity, so too has its utility and governance token, T.

T has seen a massive surge in the past week, with the token rising a whopping 146% in the weekly. The surge in interest has been driven in part by Coinbase, one of the world’s leading centralized exchanges. On January 26th, Coinbase announced the support for the Threshold token, enabling the token to gain momentum in the retail investor space.

The T token is an ERC-20 token with a multitude of uses. Primarily, it allows users to make payments, influence the direction of the project through voting, and stake for interest and other incentives. In addition, the network is also focused on developing its tBTC project, a way for Bitcoin holders to use their coins on Ethereum-based DeFi.

As the Threshold Network continues to develop, the utility of its token is only expected to grow. With the Coinbase listing, T is now more accessible than ever, making it an attractive investment opportunity. The dev team is also focused on developing its tBTC project, a way for Bitcoin holders to use their coins on Ethereum-based DeFi. This could further propel the token to new heights, as the world of bridging the two major cryptocurrencies continues to advance.

Ultimately, the growth of Threshold Network and its token, T, have been remarkable, and the project is likely to continue to gain traction in the coming months. With Coinbase’s listing, T is now more accessible than ever, making it an attractive investment opportunity. As the network continues to develop and its token continues to gain value, the Threshold Network is sure to make a lasting impact on the blockchain space.

• XRP and ADA are popular entry-level investments in the crypto market due to their low prices below $1.
• The success of the XRP price this year may depend on the outcome of the court case between Ripple and the U.S. Securities and Exchange Commission (SEC).
• If Ripple wins the court case, the XRP price could skyrocket, potentially making up for its 88% drop from its all-time high of $3.40.

Cryptocurrencies have become increasingly popular investments over the past few years, and two of the most popular entry-level cryptocurrencies are Cardano (ADA) and XRP. Both of these altcoins have prices below $1, making them attractive to investors who are looking to get into the crypto market. However, what are the prospects for both altcoins in 2023? In order to answer this question, it is necessary to look at both the fundamentals and the technical analysis perspective.

When it comes to XRP, the success of its price this year could largely depend on the outcome of the court case between Ripple and the U.S. Securities and Exchange Commission (SEC). The SEC has alleged that Ripple engaged in the sale of unregistered securities, and the case is currently ongoing. According to current projections, including from Ripple’s legal counsel Stuart Alderoty, the trial could likely end in the second quarter of 2023. If Ripple manages to leave the courtroom as the winner, the price of XRP could skyrocket. This is because the week the SEC filed its lawsuit, the XRP price fell a whopping -72% in seven days. The price crashed from $0.60 to $0.17. This means that compared to Bitcoin and Ethereum, XRP still shows a massive undervaluation since the event. While BTC and ETH are 69% and 68% down from their all-time highs, respectively, the current XRP price is 88% below its all-time high of $3.40.

A Ripple victory could also reactivate old and new partnerships. During the Ripple Swell conference in November, CEO Brad Garlinghouse revealed that U.S. banks and companies are in the pipeline as partners once the court case is out of the way. Additionally, a Ripple victory could also trigger a reverse effect on the XRP price as of December 2020. As a result, XRP bulls will be eager to make up for this shortfall and push the price of XRP higher.

Meanwhile, the prospects for Cardano (ADA) are also looking positive for 2023. Cardano is a third-generation blockchain platform that is focused on providing users with a secure and scalable environment for decentralized applications. Cardano has been making strides in the crypto market and is currently the fifth-largest cryptocurrency by market cap. The team behind Cardano has been constantly updating the network and is working to improve scalability and security. Additionally, the team has also been working on integrating the wallet into the Cardano ecosystem, which could be a major catalyst for ADA in the future.

Overall, both XRP and ADA are looking like attractive investments for 2023. XRP could see a huge increase in price if Ripple wins its court case against the SEC, while Cardano is working on improving its protocol and making strides in the crypto market. As a result, investors who are looking to get into the crypto market would do well to consider both XRP and ADA as potential investments for 2023.

• Dogecoin formed a base near $0.066 and started a fresh increase against the US Dollar.
• There is a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE/USD pair.
• If there is a clear close above the $0.080 resistance, the price could rise further towards the $0.088 resistance.

Dogecoin has seen a rise in price over the past few weeks, trading above the $0.0750 level against the US dollar. The cryptocurrency has found support near the $0.066 zone and is now trading above the $0.0750 zone and the 100 simple moving average (4-hours). Additionally, there is a key bullish trend line forming with support near $0.0740 on the 4-hours chart of the DOGE/USD pair.

The recent increase in Dogecoin price was kickstarted by a strong decline which found support near the $0.066 zone. DOGE then started a steady increase and moved above the $0.070 resistance zone to set the pace for a decent increase. The price cleared the 23.6% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low.

Currently, Dogecoin is trading in a bullish zone above the $0.0750 level and the 100 simple moving average (4-hours). If buyers can push the price above the $0.080 resistance, there could be further gains towards the $0.088 resistance. This level is near the 50% Fib retracement level of the key decline from the $0.1402 swing high to $0.0658 low.

On the downside, the first major support is near the $0.0740 level. The trend line support is also near this level. If there is a downside break below the $0.0740 support, the price could start a fresh decline. The main support levels are near $0.0700 and $0.066. Any further losses may call for a test of the $0.0560 support.

Overall, Dogecoin is currently trading nicely above the $0.0750 level and the 100 simple moving average (4-hours). To start a strong rally, buyers need to gain momentum above the $0.080 resistance. If they succeed, the price could rise further towards the $0.088 resistance. On the other hand, if there is a downside break below the $0.0740 support, the price could start a fresh decline.