Author: The Block
Crypto exchange Binance has renamed its blockchain ecosystem in a move that suggests the company does not want to be directly associated with the blockchain and its token. Its blockchain ecosystem, previously known as Binance Smart Chain, has now been renamed to BNB Chain, and its token BNB — once known as Binance coin — has now been rechristened as “Build and Build.” “Over the years, we’ve realized that BNB has evolved into something beyond Binance and in fact, BNB means Build and Build (not Binance Coin), it’s something CZ has tweeted before,” said Samy Karim, BNB Chain ecosystem coordinator, in a…
When NFTs started taking off on Solana in August, it was lacking in marketplaces to trade them and had a scarcity of data sites for monitoring price changes. Solanalysis carved out a niche by tracking the top NFT collections on the blockchain platform and making it easy to compare them. Since then, the data site has added more features, such as the ability for users to track the value of their own NFTs. It has also recently brought out a launchpad for NFT projects to launch new collections. Now it’s announcing a rebrand, a recent fundraise and an NFT marketplace…
Monero mining pool MineXMR now controls 44% of the privacy coin’s hash rate, a position that some think carries potential risks for the network’s security. MineXMR, the largest Monero mining pool, is relatively close to controlling more than half of the network’s hash rate. If it were to reach such a level, it would theoretically be able to carry out a 51% attack. A 51% attack is when one entity holds over half of the hashing power of a blockchain network, a position that allows them to have some sway over the network’s consensus on what transactions have gone through. …
Build Finance DAO suffered a “hostile governance takeover” over the last few days and has lost around $470,000 in funds, according to an announcement today. Over the last few days, an unknown person managed to use a large supply of tokens to vote through a proposal that gave them full control over the DAO’s treasury and its ability to mint tokens. “As things stand, the attacker has full control of the governance contract, minting keys and treasury. The DAO no longer has control over any part of the key infrastructure,” said Urbane Grandier, a member of Build Finance’s core team,…
Crypto apps shot up App Store download charts in the US on Monday morning, after a Super Bowl studded with digital assets advertising. Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams also saw two of the biggest crypto exchanges, FTX and Coinbase, compete for eye-balls. Data tracked by The Block Research shows that Coinbase’s app surged from 186th place to second on the App Store. Coinbase’s ad prompted a rush of downloads. FTX-owned Blockfolio and eToro, the investment app, also shot up the rankings after running ads during the big game. Coinbase’s minute-long ad featured a QR code bouncing across…
Propy, a real estate blockchain company, sold its first property in the United States on February 8. The property, based in Florida, was sold for $653,163 or 210 ETH, after receiving 3000 potential bidders. “This is just the first seller in our pipeline and we’re seeing a lot of demand,” said Natalia Karayaneva, CEO of Propy, in a statement. The sale drew attention for the fact that, as part of the deal, the owner receives a non-fungible token as digital proof-of-ownership. As noted by the Tampa Bay Times, the condo was previously owned by Leslie Alessandra, founder of a crypto company…
Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams was also a face-off between two of the biggest crypto exchanges: FTX and Coinbase. The two crypto firms—which typically vie for customer order flow—competed for eye-balls through their own Super Bowl ads, confirming earlier reports that the firms would have spots in this year’s event. Coinbase’s minute-long ad with a QR code bouncing across the screen invited viewers to participate in a large giveaway, with over $100 million in incentives for the crypto community expected this year. Here’s how it works: New customers who join Coinbase by February…
Intel announced on Friday that it would ship its blockchain accelerator later this year, with a roster of high-profile clients already on its books. In a post on its website, the US multinational said it was “declaring [its] intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators.” Argo Blockchain, BLOCK (formerly known as Square) and bitcoin mining company GRIID Infrastructure are among its first customers. It said it would engage and promote an open and secure blockchain ecosystem, aiming for sustainability while it develops its products. The tech will be implemented on a tiny piece…
Cosmos-based project Evmos is planning to launch its token airdrop on February 15, according to co-founder Federico Küllmer. Evmos is a project that seeks to link up the Cosmos and the Ethereum ecosystems. Cosmos is a network of blockchains, which are all designed so that tokens can be sent between them. While blockchains in the Cosmos ecosystem aren’t natively compatible with Ethereum (specifically the Ethereum Virtual Machine), Evmos seeks to be the first that is. And in doing so, it’s hoping to bring Ethereum users to Cosmos. The airdrop, which was announced on December 15, will reward users of Ethereum as well…
The chief executive of rideshare company Uber has said the firm “absolutely” will accept crypto in the future, but prefaced those remarks by saying such a move would only happen under particular conditions. The remarks came as CEO Dara Khosrowshahi spoke to Bloomberg in an interview Friday. When asked if Uber might accept crypto “someday,” Khosrowshahi remarked: “It definitely could. We’re having conversations all the time. I think right now, what we see with bitcoin and some of the other cryptos, they are quite valuable as a store of value. The exchange mechanism is expensive, it’s not great for the environment.…