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HyperPay Wallet Integrates TSS Technology to Increase Asset Security

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HyperPay Wallet, a self-described “multi-ecosystem digital wallet,” that’s “safe and user-friendly,” has introduced what it calls the Threshold Signature Scheme (TSS), and has implemented it into its Hardware Security Module (HSM), according to a press release from the group.

This TSS is a form of advanced cryptography that should add security to users taking advantage of the wallet. The release describes this as:

“Through the encrypted interaction of multiple HSMs, the final signature is jointly calculated, which saves the on-chain multi-signature fees and avoids the on-chain multi-signature loopholes. It is the first time in the industry that combines TSS and HSM technologies to create the highest security level of off-chain products and wallet. HyperPay will maintain the unremitting pursuit of security technology in the subsequent business development, and maintain the security of the business operating environment.”

The goal, of course, is to increase the security of a blockchain-based wallet – a space consistently full of danger and hacks – to ensure accessibility. It’s difficult to recover stolen cryptoassets, so HyperPay Wallet wants to prevent that from ever happening in the first place.

Source: https://insidebitcoins.com/news/hyperpay-wallet-integrates-tss-technology-to-increase-asset-security

Blockchain

Lightning Vs WBTC, Is It Game Over For Bitcoin Lightning Network?

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Lightning Network that was launched with the hope of enabling instant payments and scaling Bitcoin to handle millions to billion of transactions per second across the network. However, currently the Lightning Network appeared to be losing pace, especially when compared to Wrapped Bitcoin. 

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Lightning vs WBTC

The total value of Bitcoin locked in Ethereum via Wrapped Bitcoin [WBTC] has nearly tripled in a month. According to data provider Skew, the total value of BTC in WBTC was $353 million on 28 August, whereas, the current value stood at $952 million. Whereas Bitcoin on Lightning Network was struggling to surpass $12 million for months. 

Lightning is falling behind even as the network continued its efforts to upgrade and improve. According to Blockstream, the last update fro LN was released on 16 September that introduced across-the-board speedups, Multi-part payment fixes and refinements, and New ‘multifundchannel’ plugin. 

However, the growing interest in Decentralized Finance [DeFi] has channeled great interest from users to WBTC as its potential to provide massive returns.

Lightning Network a failure? 

According to a prominent crypto investor, Roger Ver Lightning Network might just be a “total failure.” In a tweet comparing the total BTC locked in WBTC on ETH and LN, Ver noted that the difference was highlighting the “total failure” for scaling BTC on LN. 

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Even though users claim WBTC to be better than LN, the value into the tokenized BTC may not be a reflection of the demand from users to transact on Ethereum. Rather, this could be a hype-driven exercise of DeFi. While WBTC is a centralized collaboration between Defi protocols like Maker, Compound, Kyber Network, and so on, LN was in a different league being decentralized and a permissionless layer. Making it difficult to draw parallels between the two. 

However, if the Bitcoin fees keep climbing higher, users may eventually switch to Lightning Network. Meanwhile, the tokenized versions of BTC continue to lead including Ren protocol’s renBTC that held 24% of the total amount of BTC represented on the ETH blockchain. 


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Author: Ketaki Dixit




Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

Source: https://coingape.com/lightning-wbtc-bitcoin-lightning-network/

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Cardano Announces More Upgrades, but ADA Looks Ready to Take Shelter

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

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Source: https://cryptobriefing.com/cardano-announces-more-upgrades-ada-looks-ready-take-shelter/

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PancakeSwap Dominating Binance Smart Chain, Reveals Stablecoin Venus Protocol

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The recently launched DeFi food farming platform, PancakeSwap, appeared to be dominating token stats on Binance’s DeFi platform. This was first revealed by CZ, the CEO of the cryptocurrency platform himself, who tweeted a screenshot of the protocol’s native token CAKE ranking at the top in all the three charts for unique senders, unique receivers as well as total uniques. His tweet read,

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It should be noted that the PankcakeSwap launched its protocol on Binance Smart Chain just a week ago and registered the first-ever transaction of its native CAKE token only on the 22nd of September. Even then, it has managed to outpace some popular tokens to dominate the charts.

Pancake: ‘Yes, Another Food Protocol’

Ethereum happens to be the home of some of the largest DeFi projects. In response to this, Binance Smart Chain was created which aimed to provide faster and cheaper transactions. Taking a jibe at the high transaction fee of the Ethereum network while announcing the launch of PancakeSwap, Binance Academy had earlier tweeted,

PancakeSwap is very much similar to BurgerSwap and BakerySwap, which Binance had previously unveiled. This had earlier resulted in a huge upside price break of BNB. Notably, BNB has maintained a consistent upward trend and noted an uptick of nearly 20% since the launch of PancakeSwap on Binance Smart Chain. It was now trading at $27.00.

Venus Protocol Dipping its Toes in Syrup Pool

PancakeSwap further revealed Venus Protocol, which is an algorithmic money market and synthetic stablecoin protocol for the Binance Smart Chain. It is the first project available on SYRUP Pool. It can be farmed by SYRUP holders, who stake their SYRUP tokens. However, it needs to be approved by SYRUP holders, following which Venus Protocol will support the DeFi clone with a grant in the native XVS token and bonus to distribute to their protocol users.

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Author: Ketaki Dixit




Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

Source: https://coingape.com/pancakeswap-venus-protocol-binance-smart-chain/

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