Blockchain
ChainSwap Sets New Industry Standard with ChainSafe Account and Privacy Swap Features
ChainSwap, the pioneering multi-chain decentralized exchange (DEX), has unveiled an added layer of security through its latest features, the ChainSafe Account and Privacy Swap. The new feature will enable users to deposit their assets into a contract secured by a 6-digit PIN, providing additional security in case their wallet is compromised. Additionally, Privacy Swap allows users to conduct transactions while keeping their wallet address anonymous.
As losses from crypto investment scams reached US$3.94 billion in 2023, a staggering 53% increase from 2022, it is imperative that users secure their digital assets against fraudsters. The new ChainSafe Account not only secures users’ digital assets in the case of wallet compromise but it also enables them to send their assets to other wallets.
While hardware wallets have been the top-of-mind option to secure digital assets, they pose a logistical inconvenience in trading. Through the ChainSafe Account, users are now provided with accessibility to reliable security in tandem with the convenience of transactions across multiple blockchain networks.
With the ChainSafe Account standing as a last line of defence, Privacy Swap leads the way in securing transactions by obscuring wallet addresses and preventing threat actors from accessing critical information.
“The crypto space is full of opportunity, and with opportunity, there comes the misfortune of threat actors who seek to exploit users in the space. Due diligence is, without doubt. necessary for cyber hygiene when navigating the crypto space, and at ChainSwap, we seek to complement that with the technology that secures users’ assets in the case of compromises. Our ChainSafe Account feature brings precisely the added security needed to protect users from having their assets stolen, while the Privacy Swap establishes a preventative precedent that keeps users’ wallet addresses anonymous from scammers.”
As the first of its kind, ChainSwap’s ChainSafe account brings to users the 2FA methodology as a last line of defence behind Chainlink’s Cross-Chain Interoperability Protocol. This development, combined with Privacy Swap, introduces the additional security needed in the DeFi landscape, where threat actors often run rampant.
With its leadership in the multi-chain DEX space, ChainSwap delivers smooth and secure transactions across all compatible blockchain networks, including Optimism, Ethereum, Arbitrum, Avalanche, Polygon, and Base.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.
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