Blockchain
Crypto Sleuth Ogle Proposes Security-Centric ‘Glue’ Blockchain
Pseudonymous crypto sleuth Ogle has witnessed many failures while investigating DeFi hacks. He belongs to a niche group of security experts who clean up the mess from frequent attacks on crypto-finance projects. His specialty is tracking down attackers and recovering stolen funds.
Stopping these heists relies on robust smart contract code and adept security. In an interview with CoinDesk, Ogle mentioned that it also comes down to incentives. If attackers perceive the personal cost of their exploits as too high, they might refrain from attempting them. This principle underpins Ogle’s upcoming blockchain, Glue, which aims to fund a security blanket that raises the stakes for black hats, encouraging them to target other platforms.
Despite its $1.4 billion valuation raised in a public token sale, Glue has remained relatively unnoticed this year. It’s another new layer 1 blockchain competing for the attention of crypto traders and developers amidst many rivals. Unlike well-known platforms like Monad and Berachain, Glue has used guerilla marketing tactics, such as distributing spy-style manila envelopes at industry conferences, to generate intrigue.
In interviews with CoinDesk, Ogle and co-founder SnapShot discussed Glue’s philosophy, security, and design. They believe Glue can appeal to both “regular people who don’t do crypto all day long” and traditional financial professionals who seek a secure platform.
Glue will feature an activity “hub” that aggregates DeFi services for users, setting it apart from most blockchains where users must find services independently. SnapShot mentioned that while “centralization” is often viewed negatively in crypto, a more centralized user interface can improve the user experience. Ogle added that Glue Hub aims to make on-chain onboarding as smooth as using Coinbase.
This approach targets the 90% of crypto users who prefer centralized exchanges over the relatively few who operate on-chain. Although Glue Hub will be the primary trading venue, the chain is permissionless, allowing anyone to build and launch services. These can be integrated with Glue Hub if they pass security checks, including audits commissioned by Glue.
Audits have become a marketing tool in crypto, with projects using positive reports to attract users. However, Ogle, a former auditor, criticized this practice, noting that many projects hide negative reports. To counter this, Glue plans to subject high-caliber projects to audits funded by the Glue Security Fund (GSF), which will be financed by a small tax on every transaction. The GSF will support various security initiatives across the chain.
Despite audits, vulnerabilities remain. For instance, the lending protocol Euler lost $200 million in a hack despite undergoing ten audits. Ogle, who helped recover Euler’s funds, claims a 65% success rate in retrieving money for the 40-odd exploited projects he has assisted.
Glue’s GSF aims to deter hackers by funding efforts to chase them down. Ogle acknowledged they won’t catch everyone but hopes the threat of pursuit will make hackers think twice about targeting Glue. Transactions on Glue will require multiple approvals (multi-sig), allowing third-party services to build tools enhancing user security by flagging suspicious activities.
This setup could help prevent users from losing money to seemingly innocent wallet interactions.
Source: coindesk.com
The post Crypto Sleuth Ogle Proposes Security-Centric ‘Glue’ Blockchain appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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