Blockchain news

Blockchains are the base level, critical infrastructure for Web3 products and services including cryptocurrencies andNFTs.

Blockchains are more secure than other forms of data storage due to their distributed ledger. To update the ledger requires a sequential updating of a cryptographically secure and verifiable transaction. This transaction is checked and verified by a network of peers operating on a shared set of rules. This reduces the chance of a single point of failure and makes it much harder to fool or hack the system.

Shared ledger technology is nothing new, however, it was only when Bitcoin saw its meteoric rise to fame that we saw the first truly decentralized ledger resistant to censorship and outside influcence.

The short version of blockchain tech is that it is simply a global consensus system. People can cooperate and coordinate directly with one another without having to pass information or sensitive details through a central administration establishment.

While the tech may have been around for a while, we're all still early in the full development of blockchain.

At DeRev, we're continuing to monitor the developments in blockchain technology to help you understand where this exciting new technology is heading.

Blockchain news

What does the Ethereum merge mean for you in real terms?

The Ethereum merge is done and we all now that it's lowered energy fees. But how much is the energy that's being saved really worth? Find you here.
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Blockchain news

Ethereum releases a major mainnet Merge announcement

A quick update on the key next stages of the ethereum main-net merge upgrade.
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Blockchain news

$ADA is powering its own Metaverse named ‘Cardalonia’, preparing for the Presale of land

Cardalonia is a new Metaverse set to launch on Cardano. According to the developers, they believe this metaverse could easily supersede the established players in the space.
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Blockchain news

Ethereum Merge looks certain after the success of the Goerli merge 

Eth 2.0 looks set to go ahead on time after the successful merge of Goerli
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Blockchain news

Failed Near Protocol Attack Costs hacker 2.5 ETH

The NEAR Protocol Rainbow Bridge was targeted on May 1. After suspicious activity was discovered, the cross-chain bridge was temporarily halted for maintenance.
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Blockchain news

Deus Finance Suffers SECOND Hack in 60 Days Losing a Further $13 Million

Early Thursday morning a flash loan attack was aimed at the multi-chain DeFi project, which operates on Ethereum, Fantom, BNB Chain, and several other Layer 1 networks.
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Blockchain news

Ronin Team Working on Security Upgrades After $600M Hack

Following the $600 million attacks late last month, the Ronin Network and Sky Mavis have promised to improve their smart contracts, pay large bug rewards, and tighten up security.
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Blockchain news

AkuDream Smart Contract Bug Locks Away $33 Million in Ether

A smart contract vulnerability has hit AkuDreams, a much-anticipated NFT. The flaw abused the smart contract, causing the auction to be interrupted and leaving them with no way to access $33 million in assets.‍
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Blockchain news

User Who Drew Swastika in the Shiba Inu Metaverse Gets Blacklisted

As per the statement released by Shiba Inu metaverse developers, a user has been blocked and blacklisted for drawing a swastika on the metaverse land.
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Blockchain news

Ronin Bridge Hackers Move 38,293 ETH in Biggest Crypto Hack to Date

The Ronin Network fell victim to one of the largest hacks in crypto history last month. Ronin was the side-chain that was built to scale Axie Infinity. The heist made the hackers over $620 million in ETH.
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Blockchain news

US Reveals That Lazarus Group Might Be Linked to the Ronin Bridge Hack

The $625 million attack on the Axie Infinity Ronin bridge has been tied to the North Korean cyber organization Lazarus, according to the US Treasury Department.
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Blockchain news

Decentralized Yield Farming Protocol Elephant Money Exploited for Over $11 Million

Elephant money has suffered a massive attack on its reserve. The manipulative price attack seems to have made an overall loss of over $11 million.
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Blockchain news

Mastercard Files 15 Metaverse and Crypto Trademarks

Companies and firms from different service sectors seem to be jumping on the metaverse and crypto bandwagon. Recently, Mastercard announced that it has filed for 15 metaverse trademarks. The trademarks are related to crypto, NFTs, and metaverse.
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Blockchain news

Intel Launches New Mining Chip Focusing on Energy Efficiency

According to a press release given to Bitcoin Magazine, Intel released specifics for their new bitcoin mining chip called the Intel Blockscale ASIC. 
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Blockchain news

Hacker Exploits a Bug in Li Finance: Users lose over $600,000

Li Finance protocol users lose over $600,000 after a hacker exploited a bug. As many as 29 users have been affected by the hack so far.
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Blockchain news

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