Theft, miracle metaverse | Top news for December 2 with skyrex

03.12.2021 12:25 am
  • Meta has simplified the rules of placement and allowed advertising a wide range of crypto products on the Facebook platform.

With prior permission, you can advertise:

  • Crypto exchanges and other trading platforms
  • Wallets
  • Mining services and equipment
  • Services for lending and borrowing cryptocurrencies

Without permission, you can promote products and services related to blockchain technology, payment methods, crypto news and education.

  • The Badger DAO DeFi protocol was hacked, the total damage amounted to $120.3 million (2100 BTC and 151 ETH).

More and more often, DeFi protocols demonstrate their unreliability and insecurity. There is only one way out — to use time-tested classical protocols in order to avoid losing your funds.

If you think that the qualification of hackers has increased recently— you are mistaken. Rather, the qualifications of developers are inexorably rolling down, causing multimillion-dollar losses to us – users of smart contracts. That is, the hacking methods are “laid down” by the developers themselves, who allow vulnerability in networks.

As a rule, several types of hacking are used: instant loan protocols (allow you to use and return them to the lender within one transaction), protocols that allow users to replenish their balance in one coin and withdraw in another

Summing up, we can conclude: study the project more carefully before investing your money in it. Take seriously the study of the composition of the development team, and if one of them has already participated in a project that has lost investors’ money, don’t even think about investing in it.

  • Metaverses will become the growth driver of the digital asset industry and will contribute to the mass adoption of cryptocurrencies as a payment instrument – Bank of America.

According to a strategist from Bank of America, the metaverse is a huge opportunity for blockchain technology, and it will finally force cryptocurrencies to start being widely used for transactions.

Chaim Israel told Insider on Tuesday that the metaverse is likely to cause a boom in the development of the crypto world as people chase the creation of virtual world platforms.

“I definitely think this is a huge, huge opportunity,” said BofA’s head of global thematic investment strategy. “You need suitable platforms… it definitely opens up great opportunities for the whole ecosystem.”

Israel predicted that it was in the metaverse that “we will start using cryptocurrencies as currencies.” But he said that existing digital currencies will probably prove too volatile for that, and therefore some types of stablecoins are likely to dominate.

The payment giant Square will change its name to Block – the move is due to the fact that Square is moving beyond its original credit card reader business, focusing on new technologies such as blockchain.

  • Square is renaming itself Block as it focuses on technologies like blockchain and goes beyond its original credit card reader business.

Jack Dorsey’s payments giant said in a statement that the new name, which took effect on December 10, “confirms the company’s growth” and “creates opportunities for further growth.” The block will continue to be traded under the SQ ticker on the New York Stock Exchange.

“We have created the Square brand for our sales business, to which it belongs. The block is a new name, but our goal of expanding economic opportunities remains the same. No matter how we grow or change, we will continue to create tools that will help expand access to the economy.”

Dorsey, co-founder and CEO, said in a statement.

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