decentralised finance Archives

Visa will ‘actively contribute’ to web3 development

Visa refuses to become a dinosaur and will “actively contribute” to developing the web3 and crypto ecosystem.

Aside from maximalists, few experts believe that crypto poses an existential threat to fiat currencies. Legacy payment processors like Visa and Mastercard have increasingly been joining the web2-era disruptors like PayPal and Square in supporting the web3 and crypto ecosystem.

Greater public adoption of “crypto” will likely come through CBDCs (Central...

20 December 2022 | Altcoins

‘Free-for-all’ Nomad exploit drains $190M of crypto

Cross-chain bridge Nomad has fallen victim to a “free-for-all” exploit that drained around $190 million in crypto.

Just last week, Nomad announced that it had secured $22.4 million in seed funding from high-profile backers including Coinbase Ventures, Crypto.com Capital, and OpenSea. The company emphasised its focus on security following a spate of bridge hacks.

“With $1.5B in bridge hacks happening within the last 12 months, many people, protocols, and DAOs are...

2 August 2022 | Altcoins

Chainalysis support extended to six DeFi-focused tokens

Blockchain analysis firm Chainalysis, which was recently valued at £3.6 billion, has added advanced investigation and compliance support for six widely-used ERC-20 tokens.

Of these tokens, five belong specifically to decentralised finance (DeFi) protocols, while the remaining ‘renBTC’ is designed to allow for the permissionless transfer of Bitcoin to and from Ethereum for use in DeFi applications.

Collectively during Q2 2021, the six tokens had a combined trading...

4 August 2021 | Altcoins

ShapeShift to decentralise entire company, begins with record airdrop

ShapeShift, a leading global cryptocurrency management platform, has begun dismantling its corporate structure to decentralise governance to its customers through its FOX token.

The process was initiated with 340 million FOX tokens being granted to more than a million recipients, making it the largest crypto airdrop in history. Current and past ShapeShift users, KeepKey hardware wallet owners, and users of other DeFi protocols all received tokens.

ShapeShift’s decision...

16 July 2021 | Blockchain

Wyoming advances DeFi adoption with landmark recognition of American CrytpoFed

The State of Wyoming has legally recognised the American CryptoFed DAO, making it the first decentralised autonomous organisation (DAO) to receive legal recognition in the US.

Such recognition comes hot on the heels of Wyoming becoming the first state to pass landmark legislation that defines DAO’s as a kind of limited liability company (LLC).

Speaking on the decision, Wyoming’s Secretary of State, Edward Buchanan, reflected on the state’s history of being at the...

6 July 2021 | Blockchain Applications

Charles Hoskinson, Founder, Cardano: On restoring trust through decentralisation

The Block spoke with Cardano founder Charles Hoskinson about the blockchain industry and restoring trust through decentralisation ahead of the platform’s upcoming launch of smart contracts.

Hoskinson co-founded the current decentralised app platform leader, Ethereum, but left the project following a dispute about accepting venture capital and the need for a more formal governing structure. He went on to found Cardano in 2015 and became the CEO of the project’s main developer,...