The Prime Minister of Japan, Fumio Kishida, has reiterated his government's plans to invest in Web 3.0 technology. In his "State of the Union" address this week before Japan's National Diet, Kishida stated that expanding the use of Web 3.0 services that utilize metaverse and non-fungible token (NFT) innovations is part of the government's digital transformation plans. The prime minister also highlighted in the policy speech that Japan is already implementing several initiatives in this direction — including issuing NFTs to local authorities that are using digital technology to solve challenges in their jurisdictions. He said:
The Japanese government took its first steps to promote Web 3.0 technology back in July when it established the Web 3.0 Policy Office under the Ministry of Economy Trade and Industry (METI) minister's secretariat. The office will bring together all government departments responsible for making and enforcing policies related to the nascent metaverse technology.
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EthereumPoW (ETHW) is the most popular of the post-Merge Ethereum (ETH) hard forks running on the proof-of-work (PoW) consensus. Now scammers are trying to benefit from its increasing popularity. Fake EthereumPoW (ETHW) accounts flooded TwitterAccording to a statement shared on EthereumPoW (ETHW) social media, a number of fake accounts and websites are impersonating the largest PoW hard fork of Ethereum (ETH). Typically, such accounts are designed to promote fake giveaways of ETH or ETHW tokens. To take part in these "airdrops," Ethereans should submit their data via Google Forms. All accounts also invite gullible investors to share the information about the "giveaways" with friends and followers by tagging them on Twitter. It is highly likely that there are dozens of fake EthereumPoW (ETHW) accounts up and running right now. Some of them were created in the last days while others are older. Here's how to protect your holdingsScammers also hacked a number of popular Twitter accounts to promote ETHW airdrops and ETH/ETHW exchange operations. At the same time, EthereumPoW (ETHW) contributors do not plan to launch additional token distributions. The only legitimate ETHW drop took place Sept. 16; the majority of Ethereum (ETH) holders were automatically enlisted to the distribution. To avoid falling victim to such blatant scam campaigns, crypto holders should not expect "free" token giveaways and avoid sharing personal or wallet data (in particular, seed phrases) with anyone.
The post Utoday: EthereumPoW (ETHW) Community Targeted by Twitter Scam appeared first on Fat Pig Signals. https://ift.tt/oga3swR The official Twitter account of PricewaterhouseCoopers (PwC) Venezuela has been hacked in order to promote an XRP scam. It is advertising “a big event” with Ripple CEO Brad Garlinghouse that is supposed to take place an hour from now. Its tweet encloses a link that is supposed to bait potential victims into sending their crypto. Prior to that, other verified accounts with significant following were compromised in order to promote the same scam. XRP giveaway scams have been popping up on social media for years. In April 2020, Ripple went as far as filing a lawsuit against video hosting giant YouTube for failing to prevent and take down such scams. The company claimed that YouTube’s failure to crack down on fraudulent XRP videos damaged its reputation. Last September, YouTube reached a settlement agreement with Ripple last September. The two parties vowed to work together in order to crack down on cryptocurrency scams. Last May, XRP scammers managed to hack the official account of Spain's oldest law enforcement agency. Social media are still teeming with cryptocurrency scams after all these years. Scammers typically target verified accounts in order to give credence to their fraudulent offerings.
The post PwC Account Hacked to Promote XRP Scam appeared first on Fat Pig Signals. https://ift.tt/uzvAifF Ethereum (ETH) veteran Joey Santoro, founder of Fei Labs, published a proposal to redeem FEI tokens to DAI and to distribute protocol controlled value (PCV) between TRIBE holders. Fei (FEI) stablecoin project closing; Fei Labs leaves DAOMr. Santoro has taken to Twitter to announce that the Fei (FEI) architecture will be shutting down due to "technical, financial and potential future regulatory risks." He released a proposal to redeem the existing circulating supply of FEI to Dai (DAI), the largest algorithmic stablecoin. Should this proposal pass, remaining PCV reserves will be distributed between the holders of the TRIBE token, which used to act as a balance instrument to keep a 1:1 peg between FEI and USD. Exhaustive aftermath of a devastating attack on Fuse-based liquidity pools associated with Fei Labs and its partners from Rari Capital is another reason behind the upcoming discontinuing operations. Decentralized finance (DeFi) researcher Ignas, who goes by @DefiIgnas on Twitter, adds that the vulnerability of Fei's (FEI) protocol controlled value (PCV) itself is the real reason that makes the FEI team close the project:
The post Stablecoin Fei (FEI) Might Be Shut Down Soon appeared first on Fat Pig Signals. https://ift.tt/OITrM6H The Satoshi Island project intends to create a metaverse mirrored in reality. Located in Vanuatu in the South Pacific they will build a private island, dedicated to the crypto community. The Satoshi Island NFTs will represent a real piece of the island Know more about the Satoshi IslandSatoshi Island is a 32 million square foot private island, situated in the tropical heaven of Vanuatu, tucked among Australia and Fiji. The island, which is claimed by Satoshi Island Holdings Limited, is expected to become home for crypto experts and lovers, with an objective to be considered the crypto capital of the world. Following quite a while of readiness, a go-ahead from the Vanuatu Prime Endlessly clergyman Of Finance and all endorsements set up, Satoshi Island is presently fit to be formed into a genuine world crypto economy and blockchain based majority rules system. Composed of sustainable smart building modules, that can be combined into hundreds of positions to create various sorts of buildings. The modules are pre-built offsite and shipped to the island, ready to assemble. Once the modules are set in, they’re ready to be moved into. Built For The Crypto CommunitySatoshi Island is ready to turn into the crypto capital of the world, expected to unite a huge number of crypto experts and fans around the world. Life on the island will be an encounter like no other, giving the crypto local area a lifestyle choice and work among similar individuals in a spot planned around the business we love. With blockchain occasions arranged throughout the entire year, Satoshi Island has an open greeting to gatherings hoping to put on their occasions. Crypto projects are likewise invited to set up a base on the island and being encircled by different ventures will introduce organising open doors like no other. Crypto Friendly JurisdictionThe island is situated in Vanuatu, a country in the South Pacific which is an individual from the United Nations. The public authority upholds development and has crypto agreeable regulations, which was the first mark of approval in picking Vanuatu to turn into the home for Satoshi Island. After broad investigation into the possibility of making a completely crypto-based society, Vanuatu was picked over any remaining nations because of the readiness of the public authority to permit such a spot to turn into a reality. Albeit not its own country, Satoshi Island will work with a degree of independence, and through our commitment with the Prime Minister, The Ministry of Finance and the Ministry Of Lands, we are helping the whole country with their objective to embrace blockchain innovation. For those wishing to arrange blockchain projects, trades, banks or other crypto related organisations, Vanuatu has no assessment on benefits, profits or pay for companies or people. There is no capital increase charge, no saved portion charge and no demise charge. Improvement on the island is being finished in view of supportability and 100 percent of the energy required will be self-produced through sustainable techniques. Sustainable Future DesignImprovement on the island is being finished considering maintainability and 100 percent of the energy required will be self-created through sustainable strategies. Satoshi Island Modules are intended to littly affect the climate around them. They have their own sunlight based chargers and waste administration framework and furthermore expect undeniably less interruption to the scene contrasted with conventional designs because of their simplicity of establishment. Advancement on the island is being finished in view of supportability and 100 percent of the energy required will be self-produced through sustainable strategies. Satoshi Island has committed farmland situated in the central area of Vanuatu, a short boat ride from the island. This will give Satoshi Islanders new, natural food lasting through the year. Satoshi Island likewise has a promise to capable turn of events and will consequently balance the carbon impression overwhelmingly of trees on the island and establish extra trees somewhere else to supplant any eliminated during the improvement interaction. NFT SecurityAs Satoshi Island is a genuine spot and how holders manage their NFTs impact the fate of the island, claiming a Satoshi Island NFT requires a degree of obligation not generally connected with NFT possession. In light of this, Satoshi Island NFTs accompany extra security highlights to assist with keeping them in the right hands in case of unexpected conditions. "Recipients" is the first of the high level NFT security highlights. This element is expected to work similarly as a last will and confirmation, yet requires no outsider to approve the exchange. Recipients are applied to all Satoshi Island NFTs and holders are expected to affirm wallet access occasionally by calling a capability in the savvy contract. In the event that they can't do as such, their recipient will actually want to guarantee their NFTs to guarantee the resources are not deserted. If no recipient is set, the NFTs will be dependent upon a decentralised reclamation time of a year, where past proprietors can recover their NFT in the event that a misstep was made. Once passed, NFTs will be the obligation of a DAO constrained by the Satoshi Island people group. One more high level NFT security include "Legal administrators". This works by permitting the holder to name up to three locations to go about as co-endorsers, safeguarding clients against unapproved exchanges. At the point when utilised, this discretionary safety effort implies that regardless of whether the holder's wallet is compromised and any remaining tokens and NFTs are taken, their Satoshi Island NFTs will be protected. Non-Fungible Property Tokens (NFPT)Satoshi Island is making the following stride in the development of NFTs by acquainting a way to transform computerised possession into physical. Anybody can claim a piece of the island by getting Satoshi Island Land NFTs that can be traded effectively, with practically no of the complexities related with the exchange of customary land. Each block of land is separated into 10 NFTs which can be changed into a NFPT that qualifies holders completely for similar privileges as an actual land title. This incorporates the option to construct homes or condos which can be resided in or leased. Holders of NFTs that make up numerous blocks can likewise join their NFTs to make bigger NFPTs which can then be created to oblige bigger abodes. Although the NFPT was conceptualised for use on Satoshi Island, the utilisation case is wide-extending and could be adjusted to work with whatever has an extensive exchange process. For that reason the innovation and protected innovation related with NFPTs will be uninhibitedly accessible, under open source permit, to privately owned businesses or state run administrations which see merit in its application. Citzenship NFTsSatoshi Island Citizenship is a definitive NFT for any trying Satoshi Islander. It gives the holder restrictive advantages, including the option to live and deal with the island, early admittance to mints, airdrops, high level NFT security and substantially more. Check out their website for more details about the upcoming project Satoshi Island The post Satoshi Island Project appeared first on Fat Pig Signals. https://ift.tt/vuTh4M5 Acala, the decentralized hub of the Polkadot network, has suffered a major security breach, which promoted it to pass an urgent vote to pause operations. The project’s team is currently working on investigating and mitigating the issue. The hack was allegedly caused by a bug in the iBTC/AUSD pool. The security vulnerability allowed the attacker to issue an additional 1.2 Acala Dollar (AUSD) billion tokens. The attacker’s wallet holds 785,938 AUSD tokens at press time. Another Terra situation?Due to the hack, the AUSD stablecoin lost its peg, plunging to an all-time low of $0.5713. Even though the stablecoin has managed to claw back about 44% of its value, there is speculation about whether or not it will deteriorate into a Terra-like disaster. Acala launched its first native stablecoin in early February. It serves as the default stablecoin for the Polkadot and Kusama ecosystem. The AUSD cryptocurrency is backed by a slew of collateral reserve assets, billing itself as the multi-chain version of the Ethereum-based Dai (DAI) stablecoin. It exists alongside the ACA (Acala Token) government token, whose value has also plunged by more than 12% as the result of the hack.
The post “DeFi Hub of Polkadot” Suffers Major Hack appeared first on Fat Pig Signals. https://ift.tt/KSw5Osh Second-layer solutions on top of the Ethereum (ETH) network become increasingly popular in 2022; L2 majors Optimism and Arbitrum are hosting over 160 protocols combined. Optimism (OP) now exceeds Polygon (MATIC) by this crucial metricOptimism (OP), a largest rollup-based second-layer scaling solution for the Ethereum (ETH) network, has accomplished yet another milestone in terms of massive adoption. As displayed by DefiLlama, a major tracker of decentralized finance (DeFi) protocols, 61 products on the Optimism (OP) network amassed $2.38 billion in total value locked (TVL). Meanwhile, 282 protocols on the Polygon network (MATIC) managed to attract $1.83 billion. Both results include the statistics of borrowed money. Tron (TRX) and Solana (SOL) remain the leaders of the non-EVM segment — it includes protocols that lack seamless compatibility with Ethereum (ETH) — with $5.88 billion and $2.29 billion locked, respectively.
The post Polygon Network (MATIC) TVL Surpassed by This Ethereum L2 appeared first on Fat Pig Signals. https://ift.tt/zqnOFg4 In a tweet, Ethereum developer Tim Beiko shares the expected timeline for the Goerli proof-of-stake transition. Also, in a blog post shared alongside the tweet, the team notes that after numerous devnets, shadow forks and merges on deprecated testnets, Goerli and its accompanying Beacon Chain, Prater, are the only remaining testnets to undergo the "Merge." In this case, Goerli and Prater will merge, but the resulting network will continue to be known as "Goerli" after the Merge. There are two ways in which the Merge differs from earlier Ethereum updates. The consensus layer (CL) and execution layer (EL) clients of node operators must first be simultaneously updated, rather than only one of the two. Second, the upgrade is activated in two stages: Bellatrix, which occurs at an epoch height on the Beacon Chain, and Paris, which occurs when the execution layer reaches a Total-Difficulty value. On Aug. 4, 2022, at 12:24 p.m. UTC, the Bellatrix update is slated for epoch 112260. Paris, on the other hand, will be triggered by reaching a specified Terminal Total Difficulty (TTD) on Goerli, anticipated to occur between Aug. 6 and Aug. 12, 2022. Once the execution layer has exceeded the TTD, the next block will be solely produced by a Beacon Chain validator. The Merge would be completed once the Beacon Chain has finalized this block. This should occur in two epochs, or roughly 13 minutes, after the first post-TTD block is met, assuming normal network circumstances.
The post Ethereum Developer Reveals Timeline for Final Testnet "Merge" Upgrade appeared first on Fat Pig Signals. https://ift.tt/9ALtKum Our concern is not for nothing, there is a powerful financial crisis on practically every continent at the moment, and physical money has never been so low as it is today. For years the stock market has been suffering from increasingly violent falls, there is a war going on right now. The situation for the stock market could not be worse. Unlike physical money, cryptocurrencies are experiencing one of their highest moments since their inception. Cryptocurrencies are a kind of digital money, unlike physical money these currencies are decentralized. Which means that there is no government institution behind them. Perhaps this is one of the reasons for their success, if so, there are obviously several other reasons for the successful life that Cryptocurrencies have. There are huge amounts of money hanging around the crypto market, those who work with it deal with large fortunes on a daily basis. For better returns on their investments, the way cryptocurrencies are handled changes from time to time, and new features are added every year. There are several currencies to receive investment, and there is no shortage of incentives in this area. Cryptocurrencies are a successful product of the capitalist way of life. There is nothing that screams Freedom of choice more than the existence of these currencies. What does TVL meanAs mentioned earlier, novelties in the crypto system are a completely common thing to appear. In a matter of months there is always a more interesting way of knowing whether a coin will be valued or not. And this is one of the reasons why the cryptocurrency system is considered one of the most transparent of the entire financial system. Truth is something that is hyper-valued in this field, there is no time to fool around, no time to get lost. Currently as one of the novelties we have TVL, something that comes to assist us in our investments. TVL stands for total blocked value, it is a kind of metric that shows us in dollars how much money has been blocked for investment in a DeFi network project. These values show how much an investor can trust when investing in a project, the amount that is locked up is still to come in, so its official valuation is not happening at that moment. What is TVL in cryptoIn the crypto world, TVL is something totally significant to the investor experience. It is a demonstration of how seriously the game takes the money that has been invested in these coins. TVL practically makes the measure of value that is still locked up in the smart contracts of the DeFi network crypto projects. This area grew dramatically in the year 2021, something that is here to stay and has a great influence on investors' decisions. Is it legitTVL is a totally legitimate and completely important practice for improving the return for those who decide to invest. We have already mentioned how seriously those who make the rules of this game take investors' money, TVL is one of those practices that demonstrates this to players. The way we invest money has changed in recent years, and Cryptocurrencies are the flagship of this change. There is nothing to fear when researching TVL metrics, this is a very well paved path to a return on your investment. Speaking of paved paths, this is something the cryptocurrency system knows how to do well. We all know the volatility of these digital currencies, one hour they are at the top of the mountain, a few moments later they can fall dramatically. Volatility is not such a bad thing, it shows how healthy a coin is, there is no such thing as a coin that is always at the top, either in or outside the crypto world. Anything that comes along to help you decide where you will put your investment is a valid thing, so there is nothing to be wary of about TVL. And another thing, nothing that is not valid will pass through the eyes of those who run the rules of the system that deals with cryptocurrencies. Why is TVL important in DeFiIn easy-to-understand words, we can view DeFi as a subsystem of the Blockchain. But don't be fooled by the word "subsystem". This doesn't mean that DeFi is something to be left out; on the contrary, it is a hand on the wheel for the investor. TVL is something of extreme importance to this system, as its existence complements the reason for DeFi's existence. DeFi does not decentralize cryptocurrencies, but it does decentralize financial services. Making the bank and customer relationship a person-to-person thing. At DeFi you do not invest specifically in cryptocurrencies, but rather in project smart contracts made by financial organizations. There is even the possibility of making and giving cryptocurrency loans. To know how valuable the project to invest in is, you need to know how much locked up money there is, and that is where TVL comes in. The existence of one is completely correlated to the other. How to get legit signalsThere are several news channels specifically focused on the world of cryptocurrencies. But not all of them can be trusted, obviously. You have to choose one that will publish what you want published, based on reality, without any beating about the bush. Fat Pig is one of the most renowned communities reporting on everything related to cryptocurrency finance. Daily publication of news, documents, spreadsheets. All this in one place, the Fat Pig signal group. Specialist crypto finance employees and expert economists are responsible for publishing the necessary signals for your investment. Legitimate news is the favorite target of this community, make your money grow in a healthy way by updating yourself with the folks at Fat Pig. To get to know and be part of this family, click here Fat Pig Signals . If you are already part of this great community, influence others to follow your path and join the Fat Pig group, leave your comment below. The post What is TVL in crypto? appeared first on Fat Pig Signals. https://ift.tt/17oK0Dq Cryptocurrency investment funds lost almost $6 billion worth of Bitcoin following the massive liquidation series on the cryptocurrency market back in the May-June period. The biggest loser on the market is, as expected, the Luna Foundation Guard. The largest portion of the coins that were lost is tied to the series of large liquidations that appeared on the market after the price of the first cryptocurrency tumbled from $30,000 to $17,000. Luna Foundation Guard lost more than 80,000 BTC, which is worth more than $1.8 billion at press time. Second place on the chart goes to Tesla since the company sold $900 million worth of BTC back in May. The notorious Three Arrows Capital was not the biggest loser on the market, despite being the most popular object of ridicule in the space since May. The chart is being closed by massive selling events conducted by public miners who got rid of around 19,000 Bitcoins, causing enormous selling pressure on the market in June and fueling BTC's catastrophic run to $17,000.
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