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The nonprofit organization behind the Firefox browser, Mozilla, has announced it’s halting cryptocurrency donations following significant backlash from the community and a Mozilla founder, Jamie Zawinski.

The Polygon blockchain, normally known for its high throughput, has been congested by a blockchain-based agriculture game called Sunflower Farmers. Over the last few days, users of the chain have been noticing failed transactions and degraded performance.

The rise of decentralized finance last year was accompanied by a significant rise in cryptocurrency-related crime. While crypto crime rates hit record highs, illicit cryptocurrency transactions hit record lows in relative terms, representing 0.15% of the total transaction volume last year.

Top stories in the Crypto Roundup today:

  • Mozilla Halts Crypto Donations Following Backlash
  • Polygon Suffers Accidental Attack from Sunflower Farmers
  • Crypto Crime and Usage Soared Last Year
  • Crypto Market Movers – RBN, ATOM, YFI

 
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Mozilla Halts Crypto Donations Following Backlash

 

The nonprofit organization behind the Firefox browser, Mozilla, has announced it’s halting cryptocurrency donations following significant backlash from the community and a Mozilla founder, Jamie Zawinski.

The Mozilla Foundation wrote on social media:

"Starting today we are reviewing if and how our current policy on crypto donations fits with our climate goals. And as we conduct our review we will pause the ability to donate cryptocurrency."

Zawinski, who helped build the Mozilla Project that was released in 2002, responded to a tweet from Mozilla late last year touting it accepted cryptocurrency donations saying that everyone in the project “should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.”

Mozilla first started accepting bitcoin donations in 2014, but over the last few months, cryptocurrencies have come under significant scrutiny over environmental concerns.

 
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Polygon Suffers Accidental Attack from Sunflower Farmers

 

The Polygon blockchain, normally known for its high throughput, has been congested by a blockchain-based agriculture game called Sunflower Farmers. Over the last few days, users of the chain have been noticing failed transactions and degraded performance.

Sunflower Farmers is a resource-gathering game that uses blockchain transactions for in-game actions, which some have likened to an unintentional denial of service (DDoS) attack.

A transaction on Polygon is now costing around 500 gwei or $0.50, up from fractions of a cent before the slowdown. The number of active addresses on the chain spiked 60% in a week with more than 200,000 accounts transacting on it.

Some have speculated that many of these addresses may be “bots.” Using bots in play-to-earn games is endemic in the blockchain gaming industry as users try to maximize their revenue through this activity.

 
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Crypto Crime and Usage Soared Last Year

 

The rise of decentralized finance last year was accompanied by a significant rise in cryptocurrency-related crime. While crypto crime rates hit record highs, illicit cryptocurrency transactions hit record lows in relative terms, representing 0.15% of the total transaction volume last year.

According to blockchain intelligence firm Chainalysis, cryptocurrency-related criminal activity hit an all-time high of $14 billion in 2021, with transactions linked to this activity jumping 79% from the year before.

The total cryptocurrency transaction volume, however, grew by a staggering 550%, meaning crime-related transactions accounted for 0.15% of the total volume, marking a 126% decline from 2020 and a new record low.

Chainalysis’ report suggests crime is becoming an ever-smaller part of the cryptocurrency ecosystem.

 
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Crypto Market Movers – RBN, ATOM, YFI

 

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Ribbon Finance (RBN) - Ribbon Finance is a protocol that helps users access crypto structured products for DeFi. It combines options, futures, and fixed income to improve a portfolio's risk-return profile.

Cosmos (ATOM) - Cosmos is a network of many independent blockchains, called zones. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountability guarantees hold over the behaviour of malicious actors. Tendermint Core’s BFT consensus algorithm is well suited for scaling public proof-of-stake blockchains.

Yearn.Finance (YFI) - Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders.

 
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Is the “Decentralization” in the Blockchain Ecosystem Really Decentralized?

The Omnia Protocol is a decentralized infrastructure protocol that helps preventing single points of failure. In most blockchain networks non-mining node owners are not incentivized to upgrade their infrastructure and optimize it, which can lead to numerous problems.

Omnia fixes this by rewarding node owners for the resources they share, thus facilitating better access to blockchain networks. Through a simple-to-use web interface, node owners can register with Omniato have their nodes indexed and then help decentralize users’ access to blockchain infrastructure. Node operators are rewarded in OMNIA tokens and have to stake tokens to join the network.

By rewarding the node operators, Omnia Protocol makes it more convenient for a larger number of organizations or people to run their own nodes and further decentralize every blockchain it’s present on.Currently, an estimated 73 billion requests to blockchain nodes are made on a daily basis. These requests are made through centralized providers, meaning there’s a lot of room to decentralize.

To guarantee nodes are performing according to their initial commitments, OMNIA protocol sends random requests to nodes to check how they’re handling requests. If performance is degraded, their rewards are reduced proportionally.

While nodes have a minimum performance threshold they need to meet to be a part of the Omnia Protocol, these requests incentivize them to maintain their infrastructure optimized in a bid to maximize rewards.

The Omnia Token

$OMNIA is a utility token that will grant numerous benefits to holders including fee reductions up to 25% for services on the Omnia Protocol, depending on how many tokens users hold. On top of that, holders will be able to access various other services by spending OMNIA.

These are subscription-based services that can be limited by a time window and a quota in terms of requests per second. Token holders can earn more by becoming liquidity providers on decentralized exchange liquidity pools, and will have access to exclusive features, thus allowing them to, for example, generate more endpoints and have a higher request rate.

 

 
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State of the Crypto by Top Tier Exchange Volume

Toplist 20 coins by top tier volume

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