Poly Hacker Returns Stolen Funds: Why This Isn’t Positive For DeFi

As reported by Crypto Adventure, an unknown hacker exploited token-swapping network Poly to the tune of $600M on Tuesday. Many industry participants were shocked by the heist, the biggest ever hacking attack in the DeFi sector. However, in a stunning twist of events, the hacker has started returning some of the stolen hauls after Poly Network's appeal on Twitter. The attacker sent a message embedded in a crypto transaction on Wednesday, informing Poly Network that he was ready to return…

Smart Contracts Now Accumulate Nearly 25% of Ethereum’s Total Supply

According to insights by the ETHhub founder Anthony Sassano, smart contracts account for Ethereum worth $63 billion. The value follows up on the Decentralized Autonomous Organization (DAO) event, which took place in 2016 and had Ethereum worth $230 million. Ideally, smart contracts are a pioneering technology residing on a blockchain that enables parties to make agreements through a code. Unfortunately, data also shows that huge chunks of ETH withdrawals make their way into DeFi applications and smart contracts, leaving exchanges…

GeoDB Review – Blockchain-Based Data Sharing Network

Data, either personal or organizational, is continually increasing in value and demand. Super large organizations buy users' data from brokers, mainly to understand their consumers' needs. However, the brokers obtain the data illegally by spying on people's devices and social media networks. The data fetching violates users' privacy, and even worse, the user does not benefit from their data.  What if you could have the freedom to share your data and receive an income for it? Well, Geodb, a blockchain-based…

A Guide to RAI Finance – Is This the Future of Cross-Chain Trading?

The decentralized finance sector continues to expand and produce new and interesting protocols every day. However, the niche struggles with the same problems that inhibit the entire crypto industry from progressing at lightning speed. DeFi sees its progress striving to solve problems like scalability, liquidity, and asset diversity. Fortunately, there are projects with million-dollar plans to eradicate these issues. One of them is RAI Finance, a decentralized cross-chain exchange growing on Polkadot just as fast as the DeFi boom of…

Aragon DAO Review – An Utopia in the Making

One of the beauties of blockchain technology is that it enables the creation of multi-layered worlds. It is similar to our Universe in which countless galaxies contain numerous solar systems, which in turn consist of several planets, each with diverse ecosystems. In turn, these ecosystems follow the same hierarchical scale down to the smallest atom. The possibilities of development are endless. Aragon is a decentralized autonomous organization (DAO) that allows the development and existence of other DAOs within its realm.…

The DAO Hack Report and Its Ongoing Implications to Cryptocurrency

Ethereum is one of the top digital currencies shaping the decentralized ledger technology. It's a community blockchain behind the Ether (ETH) cryptocurrency and thousands of dApps. According to CoinMarketCap, ETH is the second-highest traded (over $5,776,058,511 in 24hrs, at the time of writing) coin behind BTC. Ethereum is considered the most stable blockchain hence the preferred infrastructure for most stable coins. However, the blockchain is associated with some minimal flaws. Among these is an attack on the DAO. This article will…

Beginner’s Guide to MakerDAO – Resolving the Fight Against Volatility

The DeFi Ecosystem Decentralized Finance, or more commonly known as DeFi, is the newest trend in the cryptocurrency sector. After "Colored Coins," Smart Contracts, and ICOs, DeFi has taken the limelight. It has opened the door to a whole new branch of decentralized technologies. Among the several hundreds of projects that focus on bringing Decentralize Finance to the masses, none has been as successful as the MakerDAO Network. The Need for MakerDAO The MakerDAO is a decentralized smart contract platform…

Beginner’s Guide to DAOs – The Next Big Evolution in Blockchain

As a malleable concept, the definition of an ‘organization’ has been redefined, altered, and modified based on the roles it has come to play. The concept has gone through an evolution of functionality. The definition of an Organization evolves as humans need change. Although it is affected by human needs evolution, every organization needs an infrastructure, a base to develop. Its decision-making process can characterize the Infrastructure of a particular organization. A ‘traditional’ organization is known to be built on…

The Beginner’s Guide to Ethereum – All You Need to Know

Ethereum is a public computing network for decentralized applications that operates on a global scale. Ethereum is often thrown into the same basket as Bitcoin by crypto neophytes. However, besides its cryptocurrency token Ether (ETH), there are very few similarities. Ethereum has a more far-reaching use of blockchain technology. It enables users to develop and run almost any type of code, store it on the ledger, and let it gain authenticity through smart contracts and the entire platform's participation. Ethereum…