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Helium Network to Migrate to Solana Blockchain

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In an effort to increase both its scalability and its dependability, the communications protocol Helium Network has set the date of March 27 as the target for its transfer to the Solana blockchain and the deployment of Oracles.

The current iteration of the Helium blockchain will be put on hold on March 27, as stated in a blog post that was published on the 17th of February. This transition time will last for twenty-four hours. The operations related to proof-of-coverage and data transmission will not be disrupted in any way. In order to manage the relocation process, a working committee comprised of community volunteers is now being organized. The Helium development team has issued the following statement on the upcoming update: “This upgrade will include all wallets, Hotspots, and Helium Network state. It will be place during a 24-hour transition period beginning at around 1500 UTC / 10:00 AM ET.”

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When the chain is stopped, validators won’t produce new blocks, and transactions won’t be synchronized. The company said that following the transfer of all accounts and tokens to the Solana blockchain, a final snapshot of the blockchain will be taken, and Hotspots will be created as nonfungible tokens (NFTs).” Take note that when the transition time is finished, any incentives that were minted as a result of Proof-of-Coverage actions carried out over the previous twenty-four hours may be redeemed for Helium Wallet tokens. Oracles will bring current balances that may be claimed up to date, and Hotspot Owners will have access to the new claim function.”

To participate in the update, token holders of HNT and MOBILE will not be required to perform any more actions on their end. The same holds true for the majority of owners of Hotspots, while owners of big fleets may be able to test certain claim capabilities or design bespoke wallet solutions.

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On September 22nd, the community voted in favor of HIP-70 with a higher than eighty percent acceptance rate, which made the relocation to Solana possible. The developers at the time emphasized that one of the advantages of the move would be an increase in the amount of its native currency that would be accessible to subDAO reward pools, an improvement in mining, and more dependable data transmission and ecosystem support.

Also in September of the previous year, Nova Labs, the company that developed Helium, announced that it had reached an agreement with the American telecommunications provider T-Mobile to launch a crypto-powered mobile service that would enable subscribers to earn crypto rewards for sharing data about the quality of coverage and for contributing to the identification of Helium dead-spot locations across the country.



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Australian Bankers Association cost of living probe shows bank pressure

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The Australian Banking Association (ABA), which is the trade association for the Australian banking industry, has initiated a cost of living inquiry in order to investigate the impact that the COVID-19 pandemic, global supply chain constraints, geopolitical tensions, and other factors have had on the people of Australia. The purpose of this investigation is to determine how these and other factors have affected the cost of living in Australia. The primary purpose of this inquiry is to determine the degree to which these and other factors, in addition to Australia’s already high cost of living, have contributed to that level of expense.

The recent analysis of the rising inflation and concurrent collapse of three major traditional banks — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank — proved that more than 186 banks in the United States are at risk of a similar shutdown if depositors decide to withdraw all of their funds. These banks were Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank. Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank were the names of these financial institutions. These particular banking establishments went under the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank respectively. These specific financial institutions were known by the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, respectively, at one point in time. At one point in time, these particular financial institutions were known by the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, respectively. The Australian Bar Association (ABA) is currently in the process of conducting an investigation with the intention of determining both the response of the fiscal policies of the Australian government as well as the means by which the cost of living in Australia may be lowered. The goal of the investigation is to determine both the response of the fiscal policies of the Australian government as well as the means by which the cost of living in Australia may be lowered. Both the reaction of the Australian government’s fiscal policies and the ways by which the cost of living in Australia may be lowered are the foci of the inquiry, the objective of which is to discover which of these may be determined. The aim of the study is to determine both of these things at the same time as part of its objective.



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US Banking Crisis Fuels Regulation Debate

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In recent years, the banking industry in the United States has been confronted with a number of issues, including the failure of large banks and the necessity of involvement by the federal government to avert an economic meltdown. These problems have made it necessary for the federal government to get involved. As a result of these events, discussions on the most effective ways to shield the economy and fend off any potential crises in the future have been reignited.

One of the most prominent economists in the world, Peter Schiff, is one of the primary voices in this debate. He maintains that there is a possibility that the present economic crisis may become much more severe if the regulations that are put on banks are made more stringent. Schiff makes reference to the global financial crisis that took place in 2008, which was in large part precipitated by the collapse of the housing market. Schiff, on the other hand, contends that “too much government regulation” was the primary factor that led to the disaster.

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The opinion that Schiff is advocating, on the other hand, is not shared by everyone. After conducting a more in-depth investigation of Silicon Valley Bank (SVB) recently, a group of economists came to the conclusion that approximately 190 banks across the United States are in danger of failing as a result of the actions of their depositors. This was the finding that led to this conclusion. They argue that the monetary policies that are written down by central banks might be harmful to long-term assets such as mortgages and government bonds, which would result in losses for financial institutions if they were to invest in these types of assets.

This word of warning calls attention to the problems that the banking industry in the United States is now facing and the need of giving careful consideration to the impact that changes in regulatory and monetary policies will have. As the economy continues to shift and new problems emerge, policymakers will need to work together to devise solutions that will satisfy the concerns of a wide variety of interested parties while also protecting the financial well-being of the banking industry and the economy as a whole.



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DeFi Hack Linked to North Korea

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The DeFi world was rocked when Euler Finance fell victim to the biggest DeFi hack of 2023, with $197 million in funds stolen. Since then, the crypto community has been closely following the on-chain movements of the stolen funds, hoping to track down the attacker. Blockchain investigator Chainalysis recently identified that 100 ETH from the stolen funds was transferred to an address linked to North Korea.

The hacker responsible for the Euler Finance hack also transferred 3,000 ETH to Euler’s deployer account without disclosing their intent. However, no other transfers have been made at the time of writing, leaving many in the crypto community speculating whether the hacker was trolling or if they genuinely considered accepting Euler Finance’s bounty reward of $20 million.

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While Chainalysis has linked the stolen funds to North Korea, it has also highlighted the possibility of misdirection by other hackers. It is unclear whether North Korea is actually involved in the hack or if the hacker was simply using the address to throw investigators off their trail.

The Euler Finance hack has raised questions about the security of DeFi platforms, as Euler Labs CEO Michael Bentley expressed disappointment in the hack, revealing that ten separate audits over two years had assured its security. The fact that the hacker was still able to access and steal the funds has highlighted the need for stronger security measures in DeFi platforms.

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The use of DeFi platforms has skyrocketed in recent years, and the potential rewards have attracted many hackers seeking to exploit vulnerabilities in the system. This has led to an increase in DeFi hacks, with many experts calling for stronger security measures to protect investors’ funds. The Euler Finance hack serves as a reminder that even with multiple security audits, DeFi platforms are not immune to hacks, and investors should exercise caution when investing in these platforms.



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