Autor Cointelegraph By Jeffrey Albus

NFT project Azuki launches Physical Backed Token

NFT project Azuki launches Physical Backed Token

Uverejnil používateľ | okt 18, 2022 |

Anime-inspired nonfungible token (NFT) project Azuki has released a Physical Backed Token (PBT) — an open-source token standard that ties a physical item to a digital token on the Ethereum blockchain.  Azuki shared on its Twitter account that the first implementation of the PBT will use the BEAN Chip; a physical cryptographic chip that self-generates an asymmetric key pair. The combination of the PBT and the BEAN Chip introduces a feature, which the project is calling “scan to own”. Introducing the Physical Backed Token (PBT): an open source token standard tying a physical item to a digital token on the Ethereum blockchain. pic.twitter.com/iXavmJR5xv— Azuki (@AzukiOfficial) October 17, 2022According to the information shared by the Azuki team:“Scanning the chip with your phone allows for the PBT to be minted or digitally transferred to the owner’s wallet. This allows the current owner of a physical item to also own the PBT, which verifiably authenticates the item and ties the item to a digital token in the wallet of their choosing.” The PBT intends to enable decentralized authentication and tracking of the full ownership lineage of physical items, all completely on chain and without a centralized server, making it a trustless authentication. According to Azuki, no entity will have the singular right to authenticate or verify ownership of items. Everyone is free to authenticate, verify, and build experiences on top of this technology. Azuki believes that PBTs will unlock the use of physical goods to create digital experiences thereby, creating a new generation of storytelling and experiences. According to the project, holders can build a collection that captures both the digital & physical, trade authenticated items, or participate in real-life quests.Related: Azuki Founder Under Fire Azuki’s announcement of the PBT was received with mixed reactions on Crypto Twitter. Not all crypto enthusiasts were impressed, some suggested that the technology wasn’t necessarily new. Twitter user @W3Meysam shared:Translation: @AzukiOfficial uses readily available NFC chip technology and links it with an ERC-721 token. Fancy marketing lingo though. #pbt https://t.co/KX8P71VFhN— Meysam (@W3Meysam) October 18, 2022

Since the news of Azuki’s launch of a Physical Backed Token, the project has become number one on OpenSea’s 24-hour trading volume rankings.

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BREAKING: Curve Finance team warns users to avoid using site until further notice

BREAKING: Curve Finance team warns users to avoid using site until further notice

Uverejnil používateľ | aug 9, 2022 |

On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an ongoing exploit on its site. The team behind the protocol noted that the issue, which appears to be an attack from a malicious actor, was affecting the service’s nameserver and frontend.Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised. Investigation is ongoing: likely the NS itself has a problem— Curve Finance (@CurveFinance) August 9, 2022Curve stated via Twitter that its exchange — which is a separate product — appeared to be unaffected by the attack, as it uses a different DNS provider. The team still encouraged users to exercise caution when interacting with the site, however.Although you need to proceed with caution, but https://t.co/6ZFhcToWoJ seems to be unaffected – uses a different DNS provider— Curve Finance (@CurveFinance) August 9, 2022

Twitter user LefterisJP speculated that the alleged attacker had likely utilized DNS spoofing to execute the exploit on the service:It’s DNS spoofing. Cloned the site, made the DNS point to their ip where the cloned site is deployed and added approval requests to a malicious contract.— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) August 9, 2022

Other participants in the DeFi space quickly took to Twitter to spread the warning to their own followers, with some noting that the alleged thief appears to have stolen more than $573K USD at time of publication.Alert to all @CurveFinance users, their frontend has been compromised!Do not interact with it until further notice!It appears around $570k stolen so far #defi #crypto $crv— Assure DeFi (@AssureDefi) August 9, 2022

Back in July, analysts suggested that they were favorably eying Curve Finance, despite the market downturn which continues to affect the larger DeFi space. Among the reasons cited by researchers at Delphi Digital for their bullishness, they specifically called out the platform’s yield opportunities, the demand for CRV deposits, and the protocol’s revenue generation from stablecoin liquidity.This followed the platform’s release of a new “algorithm for exchanging volatile assets” in June, which promised to allow low-slippage swaps between “volatile” assets. These pools use a combination of internal oracles relying on Exponential Moving Averages (EMAs) and a bonding curve model, previously deployed by popular AMMs such as Uniswap. This story is in development, and will be updated as more information becomes available.

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It seems NFT-themed Bored & Hungry restaurant no longer accepts crypto

It seems NFT-themed Bored & Hungry restaurant no longer accepts crypto

Uverejnil používateľ | jún 24, 2022 |

The Los Angeles Times reported Friday that recently opened NFT-themed burger joint Bored & Hungry no longer accepts cryptocurrency as a form of payment for its food.When questioned, one Bored & Hungry employee told the Los Angeles Times “Not today — I don’t know.” The individual didn’t give any indication of when the decision was made to cut crypto from the menu of payment options, nor did they know if crypto payments would be making a return.Bored & Hungry initially launched back in April of this year. At the time, one worker told the Los Angeles Times that the majority of its customers didn’t seem to care about crypto payment options, also noting that customers were generally indifferent to “the restaurant’s fidelity to the crypto cause.”Another Bored & Hungry restaurant patron told the Los Angeles Times “People want to hold onto their ethereum. They’re not gonna want to use it.” Customer Richard Rubalcaba said, “I don’t know how [crypto purchases] would work, with the crash.”Many of the restaurant’s patrons stated that they are not hardcore crypto enthusiasts, and simply frequent the establishment for the food. Customer Jessica Perez said, “We rate this up there with In-N-Out, maybe even better.”Changes to venue’s payment policies seem to fall in line with the overarching crypto and macro economical meltdown transpiring across the globe. But never fear, hungry crypto users! You can still visit Chipotle, which began accepting crypto payments earlier in June via Flexa. Several countries are facing relentless regulations and scrutiny and there are issues of contagion in the crypto market.Cointelegraph reached out to Bored and Hungry owner Andy Nguyen for clarification on the restaurant’s crypto acceptance, but did not receive a response prior to publication.

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Coinbase Wallet rolls out support for NFTs

Coinbase Wallet rolls out support for NFTs

Uverejnil používateľ | dec 14, 2021 |

United States crypto exchange Coinbase has made new upgrades to its self-custody wallet, including adding support for nonfungible tokens, or NFTs, in a move that could drive further adoption of the browser extension. The company announced Tuesday that Coinbase Wallet will soon be able to support NFTs, giving users the ability to view their collections and access leading NFT marketplaces like OpenSea. Coinbase didn’t specify an exact date for the rollout but said users will need to have the latest version of the browser extension installed to access the features.Looking ahead into 2022, Coinbase said it plans to expand its support for NFTs, as well as make its native decentralized exchange trading feature more accessible and affordable. Coinbase Wallet has a DEX integration feature that allows users to convert their holdings through various decentralized exchanges. As Cointelegraph reported, Coinbase recently unveiled a new standalone browser extension for its wallet that allows users to access a wider array of crypto assets on the leading DEXs.Related: Got crypto? Here are 3 software wallets for storage, staking and swappingWhile NFT mania has cooled significantly in recent months, the growth of digital collectibles is one of the most defining trends of 2021. Cointelegraph Consulting estimates that total NFT sales are expected to top $17.7 billion this year. Data from NonFungible shows that weekly sales peaked in late August at more than $1.6 billion. 2021 is shaping up to be a defining year for NFTs. Source: NonFungibleRanked by total volume, Coinbase is now the world’s second-largest cryptocurrency exchange, according to CoinMarketCap. Binance, the world’s largest crypto exchange, already supports an NFT marketplace and in October announced support for multi-chain NFT deposits and withdrawals.

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