In the latest time, Kaspa and Polkadot have been dealing with a setback by the Bitcoin crash. The crash in Bitcoin significantly affected various kinds of cryptocurrencies and stirred up the market, which influenced projects such as Kaspa and Polka Dot.
Kaspa was believed to be a breath of fresh air when it was endorsing new blockchain technology solutions. The features like speedy transactions and adaptive ability has lost its direction. Similarly, the Polkadot has declined as well. It’s main idea is to let multiple blockchains work in harmony, but it has declined as well. These environments were negative due to the general downturn in the cryptocurrency markets. This exerted pressure on projects to make incremental investments and continue their upward trajectory.
Nonetheless, RollBlock has managed to stand out with the problems faced by Kaspa and Polkadot. RollBlock is a promising token in the blockchain sector that indicates stable growth and high resistance to market fluctuations. It has sustained its position successfully in the market employing such solutions and strategies for its workings while other cryptocurrencies are struggling.
This is an appropriate time to address the risks involved, owing to the instability of the market seen in the current cryptocurrency market. Since Bitcoin and significant crypto-assets come with volatility, Kaspa, Polkadot and others are endeavouring to overcome such adversities. These blockchains needs to stabilize and start their upward journey again.
Full INR withdrawal limit of 66% to be available from September 9 to September 22.
The first phase started on August 26, allowing users to withdraw 33% of their INR balance.
WazirX, therefore, adopted a staggered approach to withdrawals for security reasons.
WazirX is one of the largest crypto exchanges in India. It finally cleared the INR balance of 66% of users for withdrawal after the reported security breach. This process again started to get on track from August 26, 2024. As, earlier the action on INR withdrawal was on hold for months.
The whole withdrawal process is going to be executed in two stages. The first one has started on August 26, 2024. It will continue until September 8, 2024, during which the users can access their INR balance up to 33%. This allows partial access to their funds, a welcoming gesture for many users after such a long freeze. The second stage is the withdrawal of the remaining amount from September 9 to September 22, inclusive of the completion of the 66% limit of withdrawal.
The gradual approach is to allow for smooth transactions and the safety of the users since the breach led to the suspension. WazirX has said that it is closely monitoring the situation to ensure no further issues arise.
This development has come as a sigh of relief for many users of the platform who had been waiting to access their funds. WazirX is continuing its work of maintaining platform security while it resumes full operations in stages.
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Ex-U.S. President Donald Trump and his sons, Eric and Don Jr., have stirred the cryptoverse’s interest. Their new mysterious venture amidst rumors of a company cryptocurrency that they may soon be launching. The project relabeled to “World Liberty Financial” (WLFI) after their stealth-mode. Telegram group also renamed from “The DeFiant Ones.
This project seems to take on the traditional banking system, done with a DeFi focus. In their amendment, Trump and his sons complained about Wall Street and promised to revolutionize finance for Americans. They hope to give a platform that nullifies the use of any financial intermediaries. This puts even greater power into the people’s hands. In the most recent messages, they refer to the current banking system as rigged against the little people. They also claimed to be enduring the same kinds of struggles, such as being “de-banked.”
Information on the project is scanty as of now, with no details on the launch date or what features the platform will have. From general views, it could work like other crypto exchanges, such as Coinbase or Binance, and might double as a bank account replacement.
The Trump family warns followers of scams that might be associated with their project. They urge followers to get updates from official sources.
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The Argentine government has announced that it will offer blockchain and Ethereum classes at the high school level beginning August 27. According to reports, the Buenos Aires Ministry of Education is launching a new project in collaboration with the ETH Kipu Foundation. This move seeks to equip these students with skills in the emerging technology world.
What will students learn?
The students will be taught about blockchain technology and how it works. They will also learn Ethereum, one of the largest blockchain platforms. All these lessons promise to prepare students for jobs in technology in the future.
Along with the curriculum mentioned above, they are also going to provide an online course on Solidity, a programing language that developers use in creating apps on Ethereum. This kind of course will be offered to any 500 students and open only to those above the age of 18 years old.
Job Opportunities
It is expected that this training will help young people develop blockchain applications, which local businesses will use in their contribution towards the economic development of Argentina. The ETH Kipu Foundation will also educate 30 teachers. The lessons are going to be taught online with some online and others in-person trainings.
Paula D. , who is another co-founder of the ETH Kipu Foundation, expressed her opinions. According to her, this new addition to the curriculum will let students shape the future. Moreover, it will create new career paths for young Argentinians.
Solving Argentina’s Economic Challenges
Only 23.5 percent of Argentinians, after Turks, possess digital assets such as Ethereum and Bitcoin. This demonstrates that, in spite of its inflation problems, the nation is making progress toward digital currency.
President Javier Milei withdrew a cryptocurrency tax from a package of economic changes earlier this year. The people were to declare any crypto assets that had not been declared or reported earlier in that particular tax. The tax was withdrawn to prioritize the reforms so that the country’s economic problems would be solved at an earlier date.
This new education initiative takes Argentina much ahead of many countries in Latin America. Argentina is teaching blockchain and Ethereum in schools, embracing digital innovation.
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On the 19th of August, 2024 Kaspa made a remarkable development in its network capabilities. It announced the “Crescendo” hard-forked roadmap. Shortly after the effective implementation of Rusty Kaspa (RK) node software, the Kaspa Network rapidly adopted it.
It led to miners using RK nodes for about 97% of Kaspa blocks. It shows a rampant acceptance by the Kaspa network. The transition will be able to increase the block rate of the network from 1 to 10 blocks-per-second(BPS).
Roadmap to the hard-fork
The official Kaspa account specifies some key phases in the process of this significant change. They are mentioned below:
Launch & stabilize
Launch a testnet with the desired block rate and related network settings, and work on stabilizing it. TN11, the existing 10-BPS Kaspa testnet allowed to accomplish it. It has been operational since January 7, 2024. (Done)
Identify bottlenecks
Iteratively identify processing bottlenecks and make performance optimizations to lower the hardware specifications required for running a node. (Done)
Iterative improvement
Repeat the above until the minimal specs are affordable enough. Also, low enough to satisfy the decentralization required for the mainnet. (We are here, getting close to the convergence of this optimization loop. Approximate timeline: ~2 months from now.)
Enhanced user experience
After settling performance requirements. The team perfects the node software to the level of user experience required by mainnet operators. They address some minor problems that can be neglected in a testnet setting (~3 months from now). (Next)
Additional features
Implement any additional hardfork features and deploy them on TN11. (Target timeline: ~4–5 months from now. Some features might be excluded to fit the timeline.)
Feature freeze
Hardfork version
Implement the hardfork transitioning version
Deploy transition testnet
Deploy the transition version on TN10 (1 BPS testnet) to simulate the mainnet transition.
Mainnet deployment with hardfork transitioning activated 1–2 months later
With the unveiling of the “Crescendo” hard fork Kaspa aims to gain accelerated transaction handling. It also ensures network stability and security.
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Pavel Durov, the founder and CEO of Telegram, got arrested. The arrest happened while he was arriving fromAzerbaijanat Le Bourget Airport near Paris, France. The agents of France’s National Anti-Fraud Office detained him. An initial investigation on drug trafficking, money laundering, and the distribution of child sexual abuse content on the platform led to his warrant.
The investigation is led by France’s OFMIN (Office for Preventing Violence Against Minors).They focus on how Telegram’s lack of content filtering contributes to criminal activity. Durov, 39, was travelling on a private jet. He was with a woman and his bodyguard at the time of his arrest. There are doubts regarding his decision to fly to France. As, reports suggest he was aware of the arrest warrant, which is only enforceable within French territory.
Durov will be appearing in court on Sunday. He may face multiple charges such as participation in organized crimes and encouraging terrorism. An investigator from France’s National Anti-Fraud Office (ONAF) says, “Pavel Durov will end up in pre-trial detention, that’s certain…on his platform.” He also placed Durov in custody. According to him, Durov is not being moderate or cooperative about it. He also says, “He enabled countless offenses and crimes to be committed.”
In 2013, Durov established Telegram. It became well-known for its emphasis on encryption and privacy. The very advantage that was once seen as beneficial later turned into a drawback. Due to the platform’s rising appeal to criminal organizations and extremist groups, some governments including France strengthened their inspection of it.
As of now, both Telegram and the French police remain silent on this matter. They have yet to comment on this arrest. As, the Russian born entrepreneur holds citizenship in both Russia and United Arab Emirates. The Russian foreign ministry is reportedly seeking the clarification about the circumstances regarding his detention.
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Telegram rejects all accusations following the arrest of its founder and CEO, Pavel Durov, at a Paris airport. This past Saturday, the French Police detained Durov when he landed from Azerbaijan in his private jet. A police investigation reportedly resulted in his arrest. The main question under inquiry is whether Telegram’s content filtering guidelines permitted unlawful activity. This includes connections to human trafficking and terrorism. Mr. Durov has dual citizenship in France and the United Arab Emirates but has not faced any charges.
The texting app defended the way it modifies messages. It stated that it correctly complies with both EU requirements and the Digital Services Act (DSA). The business wrote on X, criticizing the notion that Durov or the platform was to accountable for user misconduct. It emphasized that platform moderation is improving daily and that it is carried out in compliance with industry norms.
French Authorities Extend Detention
The investigating judge extended Durov’s detention up to 96 hours Sunday, which might be an indication of the seriousness of the investigation. On this regard, the Russian Embassy in Paris urged for explanation from the French authorities while claiming that it is necessary to ensure respect for the rights of Durov.
Conclusion
This step underscores a strong commitment to comply with EU regulations while at the same time distancing itself from claims of platform misuse. As the investigation unfolds, the situation still stokes debates about what tech platforms are held liable for when it comes to the moderation of content or protecting user privacy.
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Users of Apple Macs are alerted about a new strain of malware called ‘Cthulhu Stealer’ that steals users’ details including cryptocurrency wallets. The malware targets cryptocurrency wallets including MetaMask, Coinbase, and Binance and operates explicitly on macOS devices. Apple devices were known to be less vulnerable to these viruses than Windows. However, this new malware proves that Mac users are no longer immune to the malware.
MacOS Malware on the Rise
The macOS system has always been considered one of the most secure systems and it was believed that it was not affected by viruses at all. However, this perception has been changing in a few years. On August 22, Cado Security identified a malware-as-a-service (MaaS) targeting macOS named ‘Cthulhu Stealer’. For several years, MacOS was prominent for being secure, but macOS malware has been trending in recent years.
The Cthulhu Stealer disguises itself as being a useful application that users might need, CleanMyMac and Adobe GenP. When downloaded, it presents itself as an Apple disk image (DMG) file. Once the file is opened, the users are taken to enter the system password using macOS’s command line, running AppleScript and JavaScript
How Cthulhu Stealer Works
If the user inputs the password of the system, another window pops up to enter the password to many popular cryptocurrency wallets beginning with MetaMask. Apart from the MetaMask, it targets wallets from Coinbase, Wasabi, Electrum, Atomic, Binance, and Blockchain Wallet.
When the credentials are obtained the malware saves the stolen data in text files and it continues to collect more details about the target’s system including their IP address and the version of macOS the system is running.
Crypto Wallets in the Crosshairs
Tara Gould, the Cado Security researcher, pointed out that the primary use of Cthulhu Stealer is to steal credentials, mainly crypto wallets. Gould also said that the primary objective of the Cthulhu Stealer is to steal the credentials and the wallets including game accounts and various stores.
Cthulhu Stealer is also similar to Atomic Stealer, which was identified in 2023, aiming to target Apple devices. According to Gould, the developer behind Cthulhu Stealer probably rewrote Atomic Stealer’s code to build this new variant.
Malware-as-a-Service
Cthulhu Stealer can be rented, making it more dangerous. A cyber security report reveals that the malware is only being rented out at $500 monthly through the Telegram. These affiliates then use the malware to attack, with the developer taking shares of the profits from the deployments. However, issues concerning payment have also been raised leading to accusations of an exit scam by affiliates.
A Growing Threat to Mac Users
This is just one of the new threats that Mac users are experiencing as Cthulhu Stealer enters. On August 23rd, Cointelegraph published another malware called AMOS, capable of copying the Ledger Live software. This an application for managing Ledger hardware wallets. This means that the distinction is even harder to notice for the user and points to increasing complexity of macOS malware.
Apple has acknowledged to this increasing threat. Earlier, the tech giant has released a new version of the next-generation macOS with the purpose of making difficult for users to bypass the Gatekeeper protections. Gatekeeper is a security measure that helps to prevent unauthorised programs from launching on Mac system.
Conclusion
With the upsurge of malware attacks specifically on macOS, users should be wary of the programs that they install. To deal with increasing cyber attackers, digital assets on Macs need to be up-to-date with the latest in security fixes. As hacking continues to advance Mac users are also at risk from the threat of malware and must tackle the issue head on.
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Sony Group has revealed a major play in the Web3 industry with Soneium, an Ethereum Layer-two solution. This step underpins Sony’s increased focus on Blockchain technology and its possible applications in multiple sectors, including entertainment, gaming and digital content generation.
New Beginning for Sony
Joining Web3 means that Sony will continue maintaining its stance as one of the leaders of technological advancement. Sony has established itself in the entertainment products sector, where it deals in items such as games, music, and movie production. By establishing Soneium, Sony is gearing up for the purpose of new and promising niches in the sphere of blockchain.
Another key aspect of the project, Soneium, lays down the foundation to eradicate some of the common problems that currently exist in blockchain technology, like scalability and high transaction fees. Ethereum Layer-2 gives Soneium the perfect opportunity to offer faster and cheaper transactions, which remains attractive to developers and users.
Ethereum Layer-2: What Is Its Role?
Compact Layer-2 solutions have attracted much interest in the last year since these solutions have the potential to augment Ethereum. Such solutions seek to perform and authenticate transactions outside the Ethereum network, thus cutting down on the total load to the decentralized blockchain network. This leads to the shortening of time taken in transactions and the reduction of other costs which if tackled is partly an influential driver for the expansion of blockchain technology.
Soneium will be based on the Optimism framework, an Ethereum Layer 2 solution familiar to many and developed by the Optimism Foundation. This decision points to the company’s focus on applying tested technology in its Web3 efforts. Optimism has been applauded for enhancing Ethereum’s security and decentralization while boosting scalability.
Potential Applications
Soneium is expected to be widely used especially in the entertainment and gaming industry since Sony has the largest market share in these fields. Such utility could be employed to launch decentralized gaming networks thereby allowing players to own and sell in-game assets seamlessly. They may also help open up markets regarding digital content that are more democratic and thus enable artists and other creators to make money from their work more easily.
However, Soneium’s competencies could also lie in other sectors of the economy including; supply chain, identity, or decentralized finance (DeFi). The structure of the network opens up the possibilities of applying it to a wide range of scenarios and may redefine how organizations function in the context of the context of the fourth industrial revolution.
Sony’s Broader Web3 Strategy
Soneium is one of the Web3 projects that Sony is gradually deploying as part of the company’s strategic integration of decentralised technologies into its operations. The company has been researching the application of blockchain, other prior undertakings include creating blockchain-based platforms for music royalties and digital assets.
Another reason to look to Web3 is to point at Sony’s investment in blockchain startups and cooperation with other tech firms. Sony has, therefore, decided to layer its own Layer-2 network with ambitions of long-lasting support for numerous Web-3 solutions.
Challenges and Opportunities
Although Sony seems to be on the right track regarding the new Web3 opportunities, it also has its risks. The blockchain industry is still in its formative stage and the technology has potential and challenges in terms of technical and legal framework. For instance, aspects such as security and network size of Soneium will be very significant for the success of this business. Also, Sony will face several legal challenges associated with the application of blockchain technology that differs from country to country.
However, Web3 has a lot of potential, which can be seen considering the challenges mentioned above. The demand for a blockchain architecture like Soneium is likely to grow as more companies and developers say the same for blockchain adoption. Technological advancement and entertainment are the areas in which Sony has most of its strengths, as well as, the firm aims at innovativeness in its operations.
Conclusion
The Soneium Ethereum Layer-2 network is an important part of Sony’s Web3 strategy Sony has already launched the Soneium Ethereum Layer-2 network. Here, Sony is not only enhancing its technological skills but is also preparing for the further new opportunities provided by the blockchain in entertainment video games, and others. With the growth of Web 3. 0, the possibility of Soneium having a significant influence on the advancement of decentralized applications and online content creation remains high.
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Creating a Kaspa wallet is the first baby step, to securely manage and store your Kaspa currency. If you’re wondering how to create a Kaspa wallet, you’ve come to the right place.
In this article, we’ll guide you step-by-step on how to create a Kaspa wallet. If this is your first time setting up any crypto wallet, you’ll find this guide especially helpful.
So, let’s get started!
What is Kaspa?
Kaspa is a decentralized cryptocurrency system, with an emphasis on its potential scalability and its speed.
It is built on a blockDAG (Directed Acyclic Graph) protocol, and this enables it to work on different blocks at a time. This feature allows Kaspa to set high TPS without the loss of decentralization and security.
The growing recognition of Kaspa has brought the attention of the crypto users to have their Kaspa wallets to save, transfer and accept Kaspa tokens.
Before plunging into the process of creating the Kaspa wallet, it’s important to know what exactly a Kaspa wallet is.
Kaspa wallets are the digital form of our physical wallets where we store, send, and receive the money but instead of physical money, we transact with the Kaspa (KAS) cryptocurrency.
Since we understood what a Kaspa wallet is, we now dive into the different types of Kaspa wallets.
Types of Kaspa Wallets
Desktop Wallets
The first type is Desktop Wallets. These wallets can easily be downloaded and installed on your computer as a software application. For the most part, they are perfect for users who regularly need to access their Kaspa tokens from a computer. In addition to having features like transaction history, synchronization with the Kaspa network, and total control over private keys, they are renowned for their high level of security.
Mobile Wallets
Next up, we have Mobile Wallets.
As its name suggests they are portable wallets that can easily be installed on our smartphones. Its main feature being portability it provides users with convenience and allows them to access their Kaspa tokens on the go. It also provides good security with its biometrics as well as pin codes.
Hardware Wallets are physical devices that store Kaspa (KAS) private keys offline, protecting against hacking. They offer high security with features like PINs and recovery phrases, giving users full control of their funds. Hardware wallets are compatible with many cryptocurrencies and are ideal for long-term, secure storage.
Web wallets are browser-accessible online services that let users transfer, receive, and save Kaspa (KAS). They do not require any installation. They are more hacker-friendly due to the internet storage of private keys, they are less secure than desktop or hardware wallets despite being more convenient.
Paper Wallets are a tangible document that serves as a safe, impenetrable means of long-term storage for public and private keys of Kaspa(KAS).
A string or QR code is frequently printed with the private key. Although it is secure from cyberattacks, it still needs to be guarded from physical harm and theft because misplacing the paper could mean losing money.
This is a cheap, easy solution, but security depends on how it is handled.
The first thing you need to do is to find the type of wallet that is suitable for you. Here we will be generating a desktop wallet which is considered to be highly secure.
But today in this article we are going to see how you can create a kaspa wallet using the web.
Step 2: Download the Wallet Software
We will begin by visiting the official Kaspa website (kaspa.org) to guarantee that we get the privileged and most secure wallet programming.
In the left sidebar of the Kaspa Wiki, find and click on the “Tools” option. In the Tools section, select “Wallet” to proceed.
We’ve already discussed hardware, software, paper, and mobile wallets above in the article but today, we will focus on the setup steps for a software wallet.
Step 3: Create a New Wallet
Go to https://wallet.kaspanet.io/.
Hit ‘Create New Wallet’, and choose the password for a new kaspa wallet.
After that wallet will generate a seed phrase, allowing us to restore the wallet that we lost access to. Take this seed phrase and write it. Never tell, write or in any way reveal your seed phrase to anybody.
Keep these 12 words secure, as they are essential for recovering your wallet. Keep them private; if someone learns your phrase, they could access and take all your funds.
The wallet software will ask you to enter the seed phrase for confirmation. It is to make sure that the seed phrase has been backed up appropriately.
Congratulations! You have successfully created your first Kaspa wallet. You can now send and receive $KAS.
Step 4: Access to Kaspa Wallet
Since you have set up your wallet you will be able to get your Kaspa Address which you can use to receive Kaspa tokens.
The wallet interface shows the balance, transactions, history, and options to initiate token sending and receiving.
Step 5: Sending and Receiving Kaspa
Once your wallet has been created and funded, you are ready to begin the interaction.
Receiving Kaspa
To receive Kaspa, simply give your wallet address to the sender you want to transact with. Your address is found in the ‘Transactions’ tab of the wallet.
Example of Address: kaspa:qzqwux8gs0wra3ezqm3rhf5qh83u2hym6yusw0k0ec4fpwck5acc759fz4trj
Sending Kaspa
The first step is to click the “send” option.
After the popup opens, enter the recipient’s information to send $KAS.
Conclusion
In conclusion, make sure to set up a secure Kaspa wallet before diving into the Kaspa ecosystem
Whether you choose a desktop, mobile, or hardware wallet, always protect your seed phrase and password.
With your wallet ready, you’ll be all set to explore Kaspa’s potential.
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