The Fight for Cross-Chain Dominance: Is it Going to Be David vs Goliath?
Tech giants such as Microsoft (NASDAQ: MSFT) and IBM (NYSE: IBM) have been making substantial investments into the blockchain and decentralized finance (DeFi) space. These Big Tech firms realize that the future of finance and business holds key opportunities that they can’t afford to leave behind because the global economy will be established around them. […]
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On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is around $243 billion with Curve capturing 7.76% of the dominance. Meanwhile, as ethereum has the largest dominance of TVL in defi, a number of alternative blockchains are seeing significant increases every week. Moreover, the TVL in cross-chain bridge technology has reached $22.48 billion, up 48.8% over the last month.
Defi Total Value Locked Hovers Above $240 Billion — Avalanche, Fantom, Polygon, Tron, Arbitrum TVLs in Defi Increase
The total value locked in decentralized finance apps....
In December 2020, the Securities and Exchange Commission (SEC) led by Jay Clayton introduced legal action against Ripple Labs for allegedly selling an unregistered security. The case started a chain reaction that caused a crash in the price of XRP, the token that supports the lawsuit, and its delisting from leading crypto exchanges, such as […]
“CoinGecko is locked in a David and Goliath battle to be the site record for crypto financial information.” The gap is narrowing between crypto analytics providers CoinMarketCap and CoinGecko when it comes to the number of website visits each receives per month.According to a Dec. 1 report from news outlet The Ken, CoinGecko had 20.6 million monthly desktop and mobile visitors as of October, compared with CoinMarketCap’s 29 million. These numbers represent a 135% increase in site traffic for the Singapore-based firm since May, when CoinMarketCap drew four times as many visitors as the....
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time.
Nomad Cross-Chain Bridge Exploited for $190 Million
Cross-chain bridges in the world of decentralized finance (defi) just can’t catch a break no matter how long they have been running and even after the bridges have been audited. On August 1, 2022, the cross-chain bridge Nomad suffered an attack that....
During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there’s $7.6 billion total-value locked across these platforms.
Cross-Chain Bridges
There’s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to do a variety of different decentralized finance (defi) techniques. Interestingly, a great deal of bridges connect to the Ethereum (ETH) network, as they have Ethereum Virtual Machine (EVM)....