6 Ways to earn passive income from crypto in 2023 - cyptoranking.com

2024-04-20

Popular crypto exchanges(2023 Update) 2024-04-20
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Source: PixabayOptimism-based decentralized crypto lender Exactly Protocol suffered a bridge exploit as it lost as much as $12 million worth of ETH earlier today.Blockchain security firm De.Fi reported that the hacker used an exploiter contract on Ethereum that transferred deposits to Optimism before ultimately bridging stolen funds back to Ethereum.The total value locked on the protocol also took a nosedive shortly after the bridge exploit.Protoco’s TVL plummeted from $36 million to under $26 million, according to data from DeFi Llama.The protocol's native governance token (EXA) also fell by more than 15% following the bridge exploit as it currently trades at $4.91,Due to its relatively new technology, cross-chain bridges have emerged as a prevalent target for hackers, with over $2 billion reportedly lost to bridge-related hacks last year, Chainalysis revealed. The Defi protocol acknowledged the hack and put out a tweet saying that they're actively investigating the security issue within the protocol. “To ensure user safety, the protocol is temporarily paused (you can still withdraw assets). Our team is on top of this and will share more details asap.”DeFi Hack Coincides With Overall Downturn in Crypto Market. The hacking incident comes at a time when there is an overall downturn in the broader cryptocurrency market, leading altcoins including XRP, LTC, and BCH experienced substantial double-digit declines. The leading cryptocurrency Bitcoin also slumped to as low as $25,200 briefly before making a slight recovery earlier today.Nearly $1 billion worth of positions were liquidated within a span of 24 hours as the entire market witnessed the bloodbath. The ongoing cross bridge exploits have become a major concern for the crypto industry. As reported earlier, Hundred Finance, a lending and borrowing DeFi protocol on the Optimism [OP] network, also suffered a major hack on 15 April. The hack led to the exploitation of $7 million worth of crypto assets.DeFi Value Locked Reaches Nearly $42 Billion as Token Market Experiences Significant Growth – Here's the Latest In the sports industry, fan token incentives can be highly profitable. 6 Ways to earn passive income from crypto in 2023Surprisingly, Binance CEO “CZ” made similar predictions on the post-halving Bitcoin price rally. He said BTC price to hit multiple ATH after Bitcoin halving. In January 2022, NFTs were experiencing an all-time high trading volume of US$5.8 billion. But, in just a few short months, the market would come to a screeching halt. After the collapse of Terra USD and Luna, Bitcoin’s price nose dive, and the industry-shaking meltdown of FTX, the NFT market became one of the many victims of the “Crypto Winter,” with the trading volume plummeting to US$395 million in August, a 30-month low, and traders are bracing for a further dip this month. This drastic decline is having artists, collectors and traders wondering if the industry is dying for good.

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Among other requirements, Uzbekistan’s cryptocurrency watchdog demanded companies set up a dedicated room for installing mining equipment and only mine crypto by the registered address. The rules also require crypto mining firms to provide timely and full payment or mining fees established by regulators. Read more: Binance raises red flags by selling Russian arm to brand-new CommEX What crypto has a bright future?“If all we’ve done with Dogecoin at the end of the day is grow awareness in a decentralized currency such as Bitcoin, then I think we’ve done a good job.” – Jackson Palmer, Co-Creator of Dogecoin Energization of Marathon’s facility in Garden City, Texas is still not complete, and the company is focused on increasing the mining efficiency of its location in McCamey, Texas.

Paul Lei, protocol program lead at Gauntlet, crypto risk management provider for Uniswap,, over the past year, said that asset liquidity has generally weakened across chains, particularly for “tail assets.” This contrasting performance data is a sign that there is a counterbalance in the DOGE metrics, as marked by the differences in retail and whale buyers. Dogecoin has not particularly showcased a promising bullish outlook in recent times, but the ITB data also showed that there is an uptick in the total number of Daily Active Addresses (DAA). Buy Ethereum With Credit Card-Beginners Guide 2023On “day zero,” when a new user joins the crypto space, sending them to the “wheat thresher” of non-custodial wallets “is just not an okay thing to do,” Warwick insists. Cowen says ETH will be coming “home” within the next several months.

Crypto payment service provider Wirex announced the launch of a zero-knowledge proof (ZK-proof)-based noncustodial crypto debit card service called W-Pay on Oct. 3.Wirex’s new decentralized solution utilizes zero-knowledge technology and is built on Polygon’s Chain Development Kit (CDK), promising increased scalability and security. Polygon’s CDK has been built with ZK-proofs in focus, enabling companies and users to develop their own ZK-powered layer-2 rail.Wirex's CEO Pavel Matveev told Cointelegraph that their inclination towards a decentralized solution comes amid a growing preference for noncustodial wallets and said:"We adopted ZK proofs via Polygon ZK stack for enhanced security and efficiency, eliminating third-party risks. This aligns with the growing preference for non-custodial wallets and on-chain operations in the evolving digital landscape."ZK-proof-based scalability solutions have become popular in the crypto space as the ZK protocol allows one party to prove to another party that something is true without disclosing any details about the claim itself. Over time, Ethereum and the likes of Polygon have seen the most development around ZK-proofs.W-Pay offers a range of ground-breaking features that enable noncustodial wallets and decentralized applications (DApps) to issue crypto debit cards. The firm claimed the decentralized approach would eliminate third-party risks and ensure account owners retain sole control over their money.Some key features of W-Pay include swift and secure transactions through the integration of ZK technology, Ethereum Virtual Machine (EVM) compatibility and account abstraction, which is a feature that streamlines transaction processes by eliminating inherent complexities.Related: Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?The ZK-proof-based decentralized solution enables card transactions up to a predetermined limit and supports the integration of DApps and noncustodial wallets with conventional payment rails. The firm said W-Pay will usher in a new era of on-chain card payment services.Wirex created the first payment card with crypto functionality in 2015, enabling users to interchangeably utilize digital and fiat money in daily transactions. Wirex claims to have a customer base of over six million and is a principal member of Visa and Mastercard.The recent ZK-proofs-based decentralized solution from Wirex comes amid difficulties with its card partner UAB PayrNet. Lithuania’s central bank revoked the license of UAB PayrNet in June, forcing the company to shutter its services in the European Economic Area.Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Magazine: Here’s how Ethereum’s ZK-rollups can become interoperableSam Bankman-Fried inner circle to testify today ERC-6551 is a token standard that allows developers to improve the design of NFTs to the point where they take on the appearance of a crypto wallet. Thailand's oldest bank takes 51% stake in crypto exchangeHong Kong-based crypto-focused venture capital firm CMCC Global raised $100 million to support Asian blockchain startups. Dubbed the Titan Fund, it will concentrate on investments in key areas: blockchain infrastructure, consumer applications like gaming and NFTs, and financial services, including exchanges, wallets and platforms for lending and borrowing. A bond refers to the amount of money a sequencer must post on Ethereum in order to participate in network activities. If fraud is proven, the sequencer’s bond will be slashed and redistributed to verifiers.

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