Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
🔥 XDC 2.0🔥
A Game-Changer for Layer 1 Security and interoperability
One of the most groundbreaking aspects of XDC 2.0 after its now completed CirtiK audit is the ability to achieve Byzantine Fault Tolerance (BFT) accountability through forensic monitoring. This unprecedented level of security will make XDC the only layer one protocol capable of offering such a feature!
In addition to enhanced security, XDC 2.0 introduces a user-friendly architecture for subnets. This includes a subnet generator, manager, and a subswap interface that facilitates seamless token transfers between subnets and the mainnet. Furthermore, the XDC Zero app will enable seamless cross-chain interoperability, expanding the potential use cases for XDC.
The security and interoperability offered by XDC subnets are expected to be a major catalyst for institutional adoption. By providing a secure and scalable platform, XDC can attract a wider range of businesses and organizations seeking to leverage blockchain technology. #XDC
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🎉Introducing a New Era for Plugin (#PLI), XDC's decentralized oracle 🎉
⭐Today marks a significant milestone for Plugin as we unveil groundbreaking features that redefine how our platform functions within the digital landscape.
🎇Modular Architecture for Endless Possibilities🎇
👉Dynamic Component Loading: Seamlessly add or replace components without touching the core code.
👉Third-Party Plugin Integration: Empower developers to create custom plugins that interact with the core system.
👉Enhanced Security and Stability: Isolate external plugins in separate processes for robust protection.
🎇Real-Time Data Exchange with WebSocket RPC🎇
👉Bidirectional Communication: Efficiently exchange data in real-time, eliminating the need for HTTP polling.
👉Low-Latency Updates: Experience lightning-fast updates for price feeds and scalable data streams.
🎇RPC Forwarding and Load Balancing for Optimal Performance🎇
👉Seamless Routing: Efficiently route RPC-based communication across decentralized oracle networks.
👉Enhanced Scalability and Reliability: Distribute workloads evenly for optimal performance.
👉Robust Security: Protect your data with advanced security measures. #XDCNetwork
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⭐XDC 2.0 Mainnet Release:
Key Features and Enhancements⭐
🎇Introduction
The blockchain ecosystem is set to experience a significant upgrade with the launch of XDC 2.0 on October 2, 2024, at block number 80370000. This mainnet release introduces several enhancements aimed at improving the network's efficiency, security, and user experience. One of the key highlights of this upgrade is the XDPOS Consensus Upgrade 2.0, which promises to revolutionize the way transactions are processed and validated.
🎇Main Feature Introduced
The main feature of XDC 2.0 is the XDPOS Consensus Upgrade 2.0. This upgrade aims to enhance the consensus mechanism, ensuring more secure and faster transaction validations. The new consensus model incorporates advanced algorithms to increase the efficiency of the network while maintaining its decentralized nature. This upgrade is crucial for accommodating the growing number of transactions and users on the platform.
✔Increase in Transaction Fees
With the XDC 2.0 upgrade, there will be a 50x increase in transaction fees starting from block number 80370000. While an increase in fees might initially raise concerns, it is essential to highlight that this change comes with significant benefits for the network and its users.
👉Before the Upgrade
Actual Transaction Cost/Fee: 0.0002265948 XDC ($0.00000637)
👉After the Upgrade
Actual Transaction Cost/Fee: 0.0044273125 XDC ($0.00012928)
✔Positive Impact on Masternode Owners
The increased transaction fees mean higher rewards for masternode owners. This incentivizes more participants to become masternodes, thereby enhancing the network's decentralization and security. Higher rewards will attract more validators, leading to a more robust and resilient blockchain network.
Maintaining Affordable Transaction Fees
Despite the increase, transaction fees on the XDPOS network will remain competitively low compared to other blockchain platforms. The upgrade ensures that users continue to enjoy affordable transaction costs while benefiting from a more secure and efficient network.
✔Disabling XDCx
Another significant change in this upgrade is the disabling of XDCx, effective from block number 80370000. This move aims to streamline the network operations and eliminate complexities associated with XDCx. By disabling XDCx, the network can focus on enhancing core functionalities and ensuring a smoother user experience.
✔Patch Implementations
The XDC 2.0 upgrade includes the implementation of several important patches:
👉EIP-2718: Standardizes transaction types, making it easier to add new transaction types in the future.
👉EIP-2930: Introduces access lists to improve transaction execution efficiency.
👉EIP-2929: Increases gas costs for certain operations to mitigate denial-of-service attacks.
✔New Methods and Features
The upgrade also brings new methods and features to the network:
👉debug_traceCall: Allows detailed tracing of transactions for debugging purposes.
👉eth_getBlockReceipts: Retrieves all receipts for a given block.
👉 eth_GetTransactionAndReceiptProof: Provides proof of a transaction and its receipt, enhancing transparency and trust in the network.
✔What's Changed
Several technical improvements and fixes have been made to the network, including:
👉Adding missing checks in the consensus mechanism to ensure network integrity.
👉Enhancing logging capabilities with deep copy functionality.
👉Implementing workflows for EC2 RPC nodes for better scalability.
👉Fixing various bugs and improving parameter handling for smoother operations.
👉Renaming and updating functions to improve clarity and functionality.
👉Enabling the 0x address scheme by default, with an option to enable the xdc prefix flag.
👉Adding new block location fields to receipts for better traceability.
Steps to upgrade the XDC Mainnet Node: Choose Method 1 or Method 2
Method 1: Upgrade via Script check out the article from AnilChinchawale
xdc.dev/anilchinchawale/xdpos-20-mainnet-release-k…
🎉Conclusion🎉
The XDC 2.0 mainnet release marks a significant milestone for the blockchain network. With its advanced consensus upgrade, increased rewards for masternode owners, and various technical improvements, XDC 2.0 is set to enhance the overall performance, security, and user experience. While transaction fees are increasing, they remain competitively low, ensuring that the network continues to be accessible and affordable for all users. The future of XDPOS looks promising as it continues to innovate and lead in the blockchain space. #XDC
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Many have known that Ripple could use side chains for smart contracts but now it looks like they have no choice but to adapt and add the functionality.
Ripple’s plans to introduce smart contract functionality to the XRP Ledger (XRPL) have triggered discussions within the community.
Interestingly, Ripple CTO David Schwartz has addressed some of the emerging concerns, essentially providing clarity on the company’s stance and future intentions.
Ripple’s Vision for XRPL Smart Contracts
Recall that yesterday, The Crypto Basic confirmed that Ripple announced plans to enhance the XRPL by adding smart contract functionality through two primary avenues.
The first involves an EVM Sidechain currently in development in collaboration with Peersyst. Meanwhile, the second option will involve an XLS proposal to enable smart contracts directly on the XRPL Mainnet. Ripple confirmed it will seek community support on this.
However, the announcement made no mention of trying out Hooks, a protocol designed by XRPL Labs specifically for native smart contracts on the Mainnet. The XRPL Labs team has consistently pushed for Hooks in the past, but the Ripple CTO expressed security concerns.
The omission of Hooks from the possible options in the latest announcement triggered questions, particularly from Wietse Wind, who felt that Hooks deserved consideration, especially given its successful implementation on Xahau, a new chain.
⭐Ripple CTO Responds⭐
Amid the ensuing backlash, David Schwartz took to X to clarify Ripple’s position. He emphasized that Ripple neither intends nor has the authority to alter the XRPL unilaterally.
Instead, the company’s recent announcement was meant to communicate Ripple’s recognition of the value of bringing programmability to the XRPL Mainnet.
Schwartz stressed that Ripple commits to transparency and community involvement, and the announcement was an early step in a process that would include community feedback and design reviews.
He explained that, until recently, he did not see a feasible way to implement smart contracts on the Mainnet without fundamentally changing the XRPL.
However, after discussions with various community members, including those at Orchestra Finance, he realized that it might be possible to introduce programmability to the Mainnet while addressing key challenges such as ledger bloat, transaction speed reduction, and potential security vulnerabilities.
He acknowledged that others in the community had reached this conclusion earlier and emphasized that Ripple intends to take a cautious, step-by-step approach to mitigate any risks associated with such changes.
thecryptobasic.com/2024/09/04/schwartz-clarifies-r…
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CFTC Commissioners dissent on Uniswap settlement
The US Commodity Futures Trading Commission settled charges with Uniswap early today to the tune of $175,000.
Two commissioners, however, say regulators should never have brought the case in the first place.
Regulators claim Uniswap “illegally offered leveraged or margined retail commodity transactions in digital assets via a decentralized digital asset trading protocol.”
CFTC Commissioner Summer K. Mersinger issued a dissenting opinion following the settlement announcement, claiming that the case against #Uniswap “has all the hallmarks of what we have come to know as regulation through enforcement.”
#CFTC #Crypto #CryptoRegulation #Altcoins
blockworks.co/news/cftc-uniswap-settlement-dissent…
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Algorand is passionate about training Nigerian Youths on Software development
Global Blockchain powerhouse, Algorand foundation has reaffirmed it’s commitment to train many Nigerian Youths on Software development and also equip them with new skills in blockchain technology
The country head for Algorand Foundation in Nigeria, Benjamin Onuoha, made this disclosure in Jalingo, while signing a Memorandum of Understanding (MoU) with Taraba State Government for the training of Youths in Taraba State on Blockchain technology and Software development.
In his speech, Onuoha described blockchain technology as a very powerful technology that can be deployed to do a lot of things ranging from decentralized and secure identity management and information sharing in a secured and very fast manner.
He stated that Blockchain technology could be used to tackle the problem of piracy and counterfeiting by ascertaining the authenticity of goods produced in the Nigerian local manufacturing sector as well as in distribution chain management to reduce fraud and promote transparency.
Read more here:
dailytrust.com/algorand-is-passionate-about-traini…
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Building a More Equitable Web3
by #Crypto Council for Innovation
This report attempts to answer the question of empowerment in Web3 by considering access to opportunities to build in Web3.
Greater participation in shaping the industry will ensure the creation of products and services that address the needs of a greater swathe of people. The failure to examine and take action on potential shortcomings now could mean that historical inequalities remain intact via policy and industry practices – particularly in the United States context, which is the focus of this report.
Key Takeaways:
⭐Underrepresented builders are advancing blockchain innovation in the #UnitedStates – but face access challenges comparable to those in legacy industries. Historically underrepresented builders are at the forefront of key growth areas in Web3, reflecting a broader range of experiences and market opportunities. However, Web3 is not immune to structural shortcomings of access to capital and social networks that also impact other innovation ecosystems.
⭐Existing structural challenges faced by underrepresented builders in Web3 are dramatically compounded by a lack of regulatory clarity. In any industry, the requirement to conduct business in a compliant manner necessitates resources. In Web3, however, a lack of regulatory clarity is creating outsized harm for builders who have historically lacked access to the capital and innovation networks required for entrepreneurial success.
⭐ Despite challenges, inherent Web3 strengths illustrate a path forward for a more equitable industry ecosystem. Core technical qualities and principles in Web3 – including cultural values of public good and open source – can begin to address structural parameters of unequal access to opportunity. Novel approaches to organizing and allocating capital and an emphasis on community building are providing all builders more democratic opportunities to build in the space.
⭐Action is urgently needed to preclude the same poor outcomes in Web3 as in legacy tech and financial ecosystems. Industry and policy actions that improve access to opportunity for a more diverse range of builders in Web3 are good for US innovation and consumers overall. Thoughtful and coordinated policy and industry practices can strengthen domestic innovation, prevent leakage of capital and talent offshore, and support more inclusive participation among those shaping #Web3.
#DLT #blockchain #Digitalassets www.centerforadigitalfuture.org/equityinweb3
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‘Strap In’—Fed Suddenly Braced For A U.S. Dollar ‘Crisis’ That’s Predicted To Spark ‘Total Collapse’ And A ‘Critical’ Bitcoin Price ‘Tipping Point’
"The U.S. Dollar Index just hit a new 2024 low and it's actually still relatively high, but it looks like it's on the verge of a total collapse,"
"The index could easily sink below 90 before year-end, challenging the 2020 low," Schiff, the founder of money manager Euro Pacific Asset Management and a bitcoin and crypto skeptic, later added. "I think that low will be breached in 2025, triggering a U.S. dollar crisis, crashing the economy, and sending consumer prices and long-term interest rates soaring."
-economist and gold bull Peter Schiff
www.forbes.com/sites/digital-assets/2024/09/02/str… #MarketWatch #crypto #investing
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#𝐁𝐋𝐎𝐂𝐊𝐂𝐇𝐀𝐈𝐍. 𝐇𝐀𝐒𝐇𝐈𝐍𝐆 𝐎𝐑 #𝐓𝐎𝐊𝐄𝐍𝐈𝐙𝐈𝐍𝐆? 𝐃𝐎𝐍'𝐓 𝐁𝐄 𝐅𝐎𝐎𝐋𝐄𝐃 𝐁𝐘 𝐖𝐇𝐀𝐓 𝐓𝐇𝐄𝐘 𝐓𝐄𝐋𝐋 𝐘𝐎𝐔
Understanding the differences between hashing and tokenization is crucial for anyone involved in data security & blockchain. While both techniques are fundamental for protecting sensitive information, they serve different purposes and operate in distinct ways.
Nowadays there is a growing issue in the industry where some companies claim to be using tokenization when, in reality, they are only using hashing.
➕ 𝐇𝐚𝐬𝐡𝐢𝐧𝐠 is a process that converts data of any size into a fixed-length string of characters, known as a hash code. Hashing is a one-way function, meaning the original data cannot be recovered from the hash. It is primarily used to verify data integrity and securely store sensitive information, like passwords. For example, when a user creates a password, the system hashes it and stores the hashed version. When the user logs in, the system hashes the input password and compares it to the stored hash. If they match, access is granted. Hashing is effective for cases where data needs to be protected from being readable if accessed, but it’s not suitable for situations where the original data must be retrieved.
➕ #Tokenization, on the other hand, replaces sensitive data with a unique identifier, or token. Unlike hashing, tokenization is reversible through a secure mapping stored separately from the token itself. This makes tokenization particularly valuable for protecting data that may need to be retrieved in its original form, such as credit card numbers or personal health information. In the payment industry, for example, a credit card number is replaced with a token that can be used for transactions without exposing the actual card number. If the token is intercepted, it cannot be used to make unauthorized transactions, providing a higher level of security.
However, some companies in the market are incorrectly advertising that they are using tokenization when they are actually using hashing. This can be misleading for clients who believe their data is being tokenized and, therefore, can be securely retrieved. In reality, if hashing is being used instead, the data cannot be restored to its original form, which could lead to problems, especially if the business process requires the ability to retrieve the original data securely.
👉 To sum up, hashing is great for ensuring data integrity and securely storing data that does not need to be retrieved, tokenization is essential when original data needs to be kept accessible in a secure form.
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Content Creator &Digital Asset /Blockchain enthusiast. Interested in Web3 and fintech development. Affiliate marketer for D'CENT, Ellipal & Elfani products.. Helping to expand knowledge of Distributive Ledger Technology, blockchain, digital assets and precious metals to the public. Not a financial advisor.