Autor Cointelegraph By Arijit Sarkar

Elon Musk thinks Neuralink is better than Metaverse in long term

Elon Musk thinks Neuralink is better than Metaverse in long term

Uverejnil používateľ | dec 22, 2021 |

Tesla and SpaceX CEO Elon Musk showed no support for the Metaverse and Web 3 ecosystem as he dismissed the terms for being used as buzzwords and marketing tactics.”I don’t see someone strapping a friggin’ screen to their face all day,” said Elon Musk, Tesla and SpaceX CEO, in an interview with The Babylon Bee when asked about his thoughts on the Metaverse ecosystem. “I don’t know if I necessarily buy into this metaverse stuff, although people talk to me a lot about it.”Speaking around Metaverse and virtual reality (VR), Musk said that he does not see a future where one would have to leave the physical world to live in a virtual world. Sharing a personal experience, he added that the VR headsets tend to trigger motion sickness while playing video games:“In the long term, a sophisticated Neuralink could put you fully into virtual reality. I think we’re far from disappearing into the metaverse, this sounds just kind of buzzwordy.”Elon Musk founded Neuralink, a neurotechnology company that primarily aims to deploy brain implants on humans for restoring and enhancing physical capabilities through computers. First @Neuralink product will enable someone with paralysis to use a smartphone with their mind faster than someone using thumbs— Elon Musk (@elonmusk) April 9, 2021“I’m currently unable to see a compelling metaverse situation or Web 3 sounds like more marketing than reality. I don’t get it, and maybe I will, but I don’t get it yet.”Musk also highlighted that people will not prefer moving around with VR headsets without wanting to ever leave it. He also recollected being warned growing up about not sitting too close to the TV:“It’s gonna ruin your eyesight, right? And now we’ve got TV literally right here (on the face). I’m like what? Is that good for you?”Related: Crypto is impossible to destroy, says Tesla CEO Elon MuskAdding to his role as the most influential Dogecoin (DOGE) supporter, Musk recently expressed support for crypto, calling it indestructible and fundamentally aimed at reducing the power of a centralized government. As Cointelegraph reported, Musk said at Code Conference in California:“It is not possible to destroy crypto, but it is possible for governments to slow down its advancement.”He also suggested that the United States government should “do nothing” when asked about his views on crypto regulations.

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Bent Finance confirms pool exploit, advises investors to withdraw funds

Bent Finance confirms pool exploit, advises investors to withdraw funds

Uverejnil používateľ | dec 21, 2021 |

Staking and farming platform Bent Finance joins the list to become the sixth crypto establishment to get hacked in December. The acknowledgment of the attack was followed by requesting investors to withdraw their pool funds and disabling the reward claims on the compromised platform. Bent Finance first realized the exploit on Monday at roughly 8:55 PM EST, a timeline when the company reported no loss of funds. However, the community suspected a rug-pull event when blockchain investigator PeckShield allegedly located the source of the hack transactions.We have located the hack tx, which interestingly is sent from the Bent Finance: Deployer @BENT_Finance !!! What is going on?! https://t.co/3L4F1gcNYJ— PeckShield Inc. (@peckshield) December 21, 2021“Yes, we see the same and are working through it right now,” said Bent Finance as the team appointed two independent white hat developers to get a better understanding of the unfolding situation. The company confirmed soon after:1/ There was an exploit from the bent deployer address, it added balance of cvxcrv and mim to an address on an unvierifed update 20 days ago. We just discovered this today. There are multiple members on this team and we will make this right.— Bent Finance (@BENT_Finance) December 21, 2021

Bent Finance continues to advise its pool investors to withdraw the funds until the exploit is addressed with every update. However, the company has confirmed to recover all stolen funds from the Bent curve pool:“We recommend you withdraw from the protocol until further notice. We are not going anywhere and will recover from this one way or another.”According to crypto fraud investigator and former member of the US Secret Service Joe McGill of TRM Labs, the attackers managed to steal approximately 440 Ethereum (ETH), worth more than $1.6 million at the time of writing. McGill’s investigations hinted that the attack has been ongoing since Dec. 12, which contradicts Bent Finance’s finding that suspects the attacker’s presence over the network since Dec. 1. In December alone, five crypto companies — including Grim Finance, BitMart and AscendEX — cumulatively lost over $600 million as a direct result of a successful hack. However, further investigations are underway to identify the losses from the Bent Finance exploit.Bent Finance has not yet responded to Cointelegraph’s request for comment. Related: Indian prime minister Modi’s hacked Twitter account attempts BTC scamRunning parallel to the ongoing exploits on crypto businesses, December was also a witness to a momentary compromise of Modi’s Twitter account, which was used to spread misinformation about Bitcoin’s (BTC) mainstream adoption in India. As Cointelegraph reported, hackers from unknown origins took control of the prime minister’s account on Dec. 12 with over 73.4 million followers to declare BTC as a legal tender in addition to announcing a 500 BTC giveaway for the Indian citizens.

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Indian state government to accredit Web2 and Web3 blockchain startups

Indian state government to accredit Web2 and Web3 blockchain startups

Uverejnil používateľ | dec 20, 2021 |

The state government of Telangana announced the launch of the India Blockchain Accelerator program to foster early-stage Web2 and Web3 startups and blockchain developers aimed at solving real-world challenges. The program will be launched in partnership with unicorn crypto exchange CoinSwitch Kuber and Lumos Labs, a technology innovation management firm. In a dialogue with Cointelegraph, Rama Devi Lanka, Director Emerging Technology and Officer on Special Duty (OSD), ITE&C Department, Government of Telangana, highlighted the state’s intent to adopt blockchain projects across multiple use cases:“Some of the interesting use cases that the state has already piloted in Blockchain include – T-Chits (Chit funds in Blockchain), Supply Chain (Seed Traceability), E-voting (Digital Voting platform built using Blockchain and AI) and more.”According to the official announcement, the state government’s four-month blockchain accelerator initiative will be open to early-stage Web2 and Web3 startups and blockchain developers. The program seeks blockchain-based solutions for real-world problems across various business verticals, including fintech, entertainment, sustainability, infrastructure and tooling, agritech, logistics and healthcare:“The Telangana Government will help provide the required regulatory framework to enable and promote blockchain growth.”Lanka also disclosed the government’s ongoing efforts into identifying various use cases in nonfungible tokens (NFT), decentralized finance (DeFi) and other crypto initiatives for mainstream implementation. Acknowledging a bullish intent towards leveraging the upcoming blockchain innovations, she said:“The government of Telangana is also focusing on developing and supporting a large scale of the Indian Blockchain talent pool, hopefully, of around 100K in the next 3-4 quarters. ”Lumos Labs co-founder Kaavya Prasad resonated similar sentiments as she highlighted the state government’s openness to new blockchain initiatives. She stressed the need for greater interest towards pilots and production-ready applications:“A collaborative effort from various State Governments will further accelerate the growth of this space and we would be able to have more streamlined progress.”Additionally, CoinSwitch Kuber founder and CEO Ashish Singhal said that the best global startups of tomorrow would run on Web3 blockchain infrastructure, focusing on India’s potential to become a net exporter of technology:“As part of the Indian Crypto industry, we shall endeavor to collaborate with the state government to work towards the vision of making Telangana the blockchain capital of the country. ”Related: India to regulate, not ban, crypto: Cabinet documentsA recent report suggested that the Indian government will not impose a blanket ban on cryptocurrencies. According to Indian news outlet NDTV, a note from the Cabinet meeting related to the crypto bill hinted towards an upcoming regulation. As Cointelegraph reported, local reporter Sunil Prabhu said that the note contained suggestions to regulate cryptocurrencies as crypto assets, with the Securities and Exchange Board of India (SEBI) overseeing the regulation of local crypto exchanges.

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Celebrities that rode the crypto wave in 2021

Celebrities that rode the crypto wave in 2021

Uverejnil používateľ | dec 19, 2021 |

Overshadowing its glory in previous years, the crypto ecosystem managed to maintain a year-long spotlight throughout 2021. Key catalysts include mainstream adoption of Bitcoin (BTC), a meme coin frenzy driven by Shiba Inu (SHIB) and Dogecoin (DOGE), and proactive participation from popular celebrities and authority figures.The year 2021 witnessed a greater inflow of influencers and celebrities to the space than ever before. All the way from mainstream tech entrepreneurs and presidents to rappers and reality TV stars, celebrities have gotten involved in crypto in their own unique ways. While some chose to create their own versions of crypto ecosystems and tokens, others helped spread awareness of various projects. As a tribute to all those who showed involvement in our world of crypto, let’s check out some of the most influential celebrities that left a mark on the crypto ecosystem, in no particular order.Snoop DoggLegendary rapper Snoop Dogg has always been an early adopter and promoter of technology and lifestyle merchandise. Although a little late, the musician entered the crypto space via an NFT collaboration named “Decentralized Dogg.” Snoop’s mainstream popularity has also led many token creators to market Snoop Dogg-branded cryptocurrencies over the past few years, but the musician has warned investors of having no involvement in such projects.NEW ARTWORK RELEASEColdie x @SnoopDogg Decentral Eyes Dogg1/1 on @SuperRare Auction ends Dec 3 5p PT/8p ETArt by ColdieExclusive audio by @SnoopDogg Coming together to keep it fun & experimental.The final 1/1 release of the Decentral Eyes Portrait Series in the OG style pic.twitter.com/ckk71dmP5d— Coldie (@Coldie) November 29, 2021Nayib BukeleAs the President of El Salvador, Nayib Bukele has been the torchbearer for Bitcoin’s mainstream adoption as a legal tender. In addition to playing a major role in legalizing Bitcoin and building a relevant infrastructure to support the Bitcoin economy, Bukele remains active on Twitter to announce the various Bitcoin-driven initiatives of his government. Despite strong initial opposition against Bitcoin’s use, Bukele now procures Bitcoin every time its market value goes down. Complementing this move, the Salvadoran government has been reinvesting unrealized gains from Bitcoin to fast-track the development of the Central American country.First steps…#Bitcoin pic.twitter.com/duhHvmEnym— Nayib Bukele (@nayibbukele) September 28, 2021

Elon Musk Tesla and SpaceX CEO Elon Musk made his mark on crypto when he started publicly endorsing Dogecoin (DOGE) back in 2020. However, Musk continues to show support for the meme coin by committing to accept payments in DOGE for various products and services offered by his companies.As a result of Musk’s support, the market price of the DOGE token has surged multi-fold despite being created for the purpose of mocking the crypto ecosystem. DOGE’s popularity has also sprouted dog-based meme tokens, Shiba Inu (SHIB) being one of the most prominent. Watch: TIME’s 2021 Person of the Year @elonmusk discusses cryptocurrency #TIMEPOY https://t.co/FfwEGxW7LX pic.twitter.com/5BXAZky0LS— TIME (@TIME) December 13, 2021

Naomi OsakaNaomi Osaka, a top professional tennis player from Japan, announced her entry into the crypto space after diversifying her portfolio in cryptocurrency, noticing the hype around Dogecoin.Osaka’s introduction to crypto was fueled by the crypto community on Twitter. The athlete has also launched and promoted various NFT initiatives, and in the process, has made a record as the most expensive NFTs being sold by a professional tennis player.Lionel MessiThe international soccer legend Lionel Messi was one of the most high-profile players to get linked with the crypto ecosystem in 2021. When Messi signed the deal to join Paris Saint-Germain football club, a part of the salary package included payment in the club’s fan tokens. Fan tokens are part of a growing sub-ecosystem that aims to increase fan engagement by allowing them to weigh in on certain club decisions. Other popular soccer clubs that have introduced fan tokens include Manchester City and AC Milan, just to name a couple.Mark ZuckerbergZuckerberg’s entry into crypto has been long-awaited ever since Facebook released the white paper for the Libra cryptocurrency back in 2019. Despite federal pressure to end experimentations with crypto, Zuckerberg rebranded his social media company Facebook to Meta on Oct. 28, positioning itself as an early bird of the budding metaverse ecosystem.Meta envisions developing a centralized metaverse world that can serve as a revenue source for online creators. Following Zuckerberg’s footsteps, major tech giants including Microsoft, Epic Games and Alibaba have started exploring business opportunities within the metaverse ecosystem. Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD— Meta (@Meta) October 28, 2021

Kim KardashianThe buzz around crypto this year also got caught up with Kim Kardashian. The reality TV superstar marked her entry into crypto by promoting Ethereum Max (EMAX), an untested cryptocurrency token, on her official Instagram account. While the move to market (or rather, shill) a cryptocurrency has become common practice for influencers across all demographics, Kardashian’s involvement in promoting EMAX backfired as United Kingdom’s Financial Conduct Authority accused her of misleading followers by promoting speculative tokens. The FCA has also noted that scammers pay influencers to promote get-rich-quick schemes and usually end up running away with the investors’ money. Kim Kardashian has also previously used her Instagram account to promote physical Bitcoin chips on a charity poker night out.Soulja BoyAmerican rapper Soulja Boy has been one of the most vocal celebrities on Crypto Twitter in 2021. From showing support for cryptocurrencies and Bitcoin via Twitter to selling “Crank That”-branded NFTs, Soulja Boy made sure his presence was felt across the crypto community. The hip-hop star has publicly disclosed owning Binance Coin (BNB), Tron (TRX) and altcoins. Back in 2018, Soulja Boy released a song named “Bitcoin” and even delivered on the song’s lyrics: “I made a hundred racks off of Bitcoin.”While the rapper’s entry was welcomed by the community, he soon attracted controversy after allegedly revealing getting paid for promoting a yet-to-be-established crypto project.Paris HiltonParis Hilton got in on the NFT wave in 2021. Despite her seemingly late entry, Hilton claims to have invested in Bitcoin and Ether (ETH) back when BTC was valued below $1,000.Moreover, the American personality took to Twitter to introduce her two new pets, named “Crypto Hilton” and “Ether Reum.”I’m so excited about #NFTs! Here’s why I think #NFTs are the future & everything you need to know to get in the game! https://t.co/mZHqsVqn9Z— Paris Hilton (@ParisHilton) April 7, 2021

Magnus CarlsenChess grandmaster Magnus Carlsen is among the younger celebrities to lead the crypto adoption drive via various chess-centric events and initiatives. In partnership with Chess Champs, an NFT-collectible marketplace, Carlsen and other professional chess players competed for NFT trophies and cash prizes in Bitcoin and cryptocurrencies.The initiatives to introduce the chess community to crypto were primarily driven by FTX, a crypto exchange founded by Sam Bankman-Fried. The Norwegian chess player is also the world’s first Bitcoin chess champion, winning over 0.6 BTC in addition to a cash prize in a tournament hosted by FTX.Special mentionsUnlike previous years, when crypto entrepreneurs and enthusiasts did most of the heavy lifting, mainstream celebrities took charge of promoting crypto by minting and selling NFTs — participating in events hosted in the Metaverse, promoting token offerings or simply showing support by purchasing Bitcoin and other cryptocurrencies.With that in mind, we also remember some of the other popular figures delving into crypto. Special mentions include:Randi ZuckerbergIf you think the name sounds familiar, that’s because it is. Meta CEO Mark Zuckerberg’s sister, Randi, entered crypto in November by joining crypto exchange Okcoin as a brand advisory council. Randi also posted a YouTube video titled “What Are Meme Coins and Tokens in Crypto?” where she discusses the growth of DOGE and SHIB and provides guidance to her viewers about making sound crypto investments. Indian film actorsFor India, 2021 has been a remarkable year for mass crypto exposure, as mainstream actors participated in numerous advertising campaigns and crypto-promoting initiatives. The drive for greater crypto penetration in a market with over 1.3 billion people was powered by local crypto exchanges including CoinDCX, WazirX and ZebPay. The companies partnered with influential celebrities such as Amitabh Bachchan to promote crypto trading and purchases.On the flip side, members of the Indian government proposed an anti-crypto bill that sought to blanket-ban all private cryptocurrencies without clarifying the meaning of the word “private.” India still maintains a gray area when it comes to deciding on the legality of cryptocurrencies. Formula OneThe 2021 Formula One World Championship racing saw increased participation from the crypto community as companies such as Crypto.com, FuturoCoin, Bitci.com, Socios.com and Tezos sponsored teams and supported their environmental and welfare initiatives. Previously, the crypto community has successfully organized numerous crowdfunding events to help NASCAR racers get back on track and participate in professional races.The #dogecar has crashed. TV: NBCSN pic.twitter.com/eCb1PosOI3— NASCAR on NBC (@NASCARonNBC) June 19, 2021

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Polkadot envisions Web3 disruption with multiple parachain launches

Polkadot envisions Web3 disruption with multiple parachain launches

Uverejnil používateľ | dec 19, 2021 |

Open-source blockchain platform Polkadot announced the launch of its first parachains (or parallelized chain) aimed at improving the interoperability between multiple blockchains. According to the announcement, the Polkadot team invested five years into the development of the parachains, which were allocated to teams via auctions, namely, Acala, Moonbeam, Parallel Finance, Astar, and Clover. With individual blockchains running in parallel within the Polkadot ecosystem, the auction winners will be able to lease slots on Polkadot’s Relay Chain for up to 96 weeks at a time. Developed by Polkadot Founder and Ethereum co-founder Gavin Wood, the Relay Chain helps in coordinating the consensus and communication between parachains:“And as the ecosystem grows, especially with nascent emergence of metaverses, dozens of protocols will become increasingly visible. In that scenario, there will not be a single blockchain, but we will have several interconnected chains.”Today, Dec 18th, join the epic party to celebrate the official launch of the network! Tune into the #PolkadotParachainParty to hear from Polkadot founders @gavofyork and @rphmeier, as well as from the first parachain auction winners.We start at 6pm CEThttps://t.co/R7Ygc4gbUh— Polkadot (@Polkadot) December 18, 2021With just over 5 years in existence, Polkadot (DOT) stands among the top 10 cryptocurrencies in terms of market capitalization. The ecosystem intends to grow its current slot allocation of five to 100 parachain slots, the maximum capacity for Relay Chain. However, “not all of these slots will be allocated via parachain slot auctions, as some will be used for governance-enabled common-good parachains and parathreads,” reads the announcement. According to Wood:“The parachain model was created with the belief that the future of Web3 will involve many different types of blockchains working together. Just as the current version of the internet caters to different needs, blockchains need to be able to provide a variety of services. Parachains solve this”Related: Iota set to launch decentralized smart contract platform to expand Web3 ecosystemIn an attempt to accelerate smart contracts initiatives across decentralized finance (DeFi) and nonfungible tokens (NFTs), Iota recently announced the release of decentralized layer-one smart contract network called Assembly. As Cointelegraph reported, Assembly uses Iota’s existing architecture to parallelly operate as a symbiotic, self-sovereign bridge. Explaining the details, Dominik Schiener, co-founder and chairman of the Iota Foundation said:“Assembly is fully configurable and can bridge across any smart contract chain running whatever type and flavor its builder desires. Every network built using the protocol will benefit from the shared security, interoperability and token infrastructure provided by the Assembly network.”

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