The Lightning Network, the premier scalability solution for the Bitcoin network, has hit a new all-time high in its network capacity, surpassing 4.200 BTC. This and more news is in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
NFT and DeFi Markets
📍Lightning Network capacity hits new all-time high of 4.200 BTC. According to data from the 1ML platform, the capacity of Bitcoin's scaling network, the Lightning Network, has reached a new all-time high of 4.249,6 BTC, at the time of writing.
The platform shows that in the last 30 days, the capacity of the Lightning Network has increased by 6%; approximately 250 BTC.
On the other hand, the Lightning Network has more than 89.000 open channels and 17.700 active nodes around the world, with the United States, Germany and France being the three main locations of the network's nodes, according to the platform's data.
Source: 1ML
Optimism about “The Merge” in Ethereum
📍DeFi researcher Vivek Raman believes that Ethereum's shift to Proof of Stake could challenge Bitcoin's market dominance. According to Raman, PoS could give Ethereum the economic structure needed to challenge Bitcoin's current dominance, and even surpass it.
In a Twitter thread, the DeFi researcher noted that Ethereum's migration to proof-of-stake will turn the cryptocurrency into a sort of “digital bonus".
Raman called the Ethereum migration “one of the most impressive engineering feats in blockchain history.”
Ethereum's new PoS network will be more secure, scalable and sustainable, which will boost the growth of the DeFi and NFT ecosystems that develop within this network, Raman said.
However, despite the optimistic perception of the researcher and many others towards the change of Ethereum's consensus protocol, experts such as Nick Payton, Adam Back and Nick Payton, have questioned the consensus in PoS.
Dunamu will expand to the Web3 world
📍South Korea-based fintech organization Dunamu will open new companies focused on Web3. Dunamu has revealed plans to expand into Web3 over the next five years. It said it will allocate an investment of 5 billion won, or about 500.000 million dollars, to fund the creation of 380 new startups and 500 new Web10.000-related jobs.
Specifically, Dunamu will focus on NFTs and the Metaverse, to help its clients and other companies get closer to these technological innovations, reported a local medium.
Phishing on Uniswap
📍A sophisticated phishing attack has stolen over $10 million from Uniswap liquidity providers. Uniswap founder Hayden Adams confirmed on Twitter that the protocol’s liquidity providers were being targeted by a sophisticated phishing campaign involving a fake airdrop of malicious ERC-20 tokens.
Initially, it was believed that the V3 iteration of the DeFi protocol had been hacked. However, Adams claimed that it was a phishing campaign that was not related to any exploit or vulnerability in Uniswap, confirming the security of the protocol.
According to MetaMask security researcher Harry Denley, who explained the sophisticated phishing attack on Uniswap users, some 30.000 users of the protocol were defrauded during this attack.
Denley said the attackers sent fake tokens to over 73.000 Uniswap addresses, supposedly to deliver a 400 UNI airdrop to users.
The malicious campaign sent an urgent message, stating that only 10.000 UNI tokens were available for airdrop and that they would be delivered to users in the order they were claimed.
However, by “claiming” the airdrop, users were required to sign an approval transaction, effectively giving attackers access to their wallets.
Given the magnitude of this attack, the founder of Uniswap called on the crypto community to be cautious in order to protect itself from malicious attacks such as phishing, reminding people not to click on links received through suspicious email messages or links posted in advertisements on the Internet.
ECB and the regulation of stablecoins
📍The European Central Bank (ECB) has published an article on stablecoins and their regulatory considerations. In the document, the ECB points out that stablecoins have become widespread as a means of payment, and therefore require urgent regulation to ensure protection against potential risks.
Patrick Hansen of Presight Capital he pointed on Twitter that the central bank has created a Macroprudential Bulletin to address the cryptocurrency industry in general.
In addition to publishing a paper on stablecoins, the ECB has also dedicated research papers to the growing DeFi ecosystem and PoW mining this year. According to Hansen, these papers give a “good overview” of what the central body thinks about these technological innovations.
Continue reading: There are already 1 billion Bitcoin addresses created!
