Vitalik Announces Total Equity of Cross-Chain dYdX

Vitalik Buterin describes his perspective on the world of cross-chain blockchain. dYdX announced plans for full distribution in 2022. Near Protocol raised $150 for Web3 technology.

Vitalik said he was excited about more channels than cross-channel Web3 worlds.

Ethereum co-founder Vitalik Buterin acknowledged his assessment of the security limitations of using a cross-chain bridge extension in the blockchain industry.

According to Buterin, keeping chain assets ever more secure compared to cross-functional operations, providing 51% protection against attacks. He believes that “it is always safer to have Ethereum assets in Solana than to have Ethereum assets in Solana or to have Ethereum assets or Ethereum assets in Solana.”

"Why do you think the future will be *crosschain* and not *multichain*: Bridge security across multiple 'sovereign domains' is a reasonable restriction."

— vitalik.eth (@VitalikButerin) January 7, 2022

Sharing examples to back up his assertion, Buterin pointed out that if a malicious organization attempts 51% attacks on Ethereum, it could be censored and/or reexploited by some party. People don't know that, but they can't block. this. I do. And not disappear.

In the worst case, even with 99% of the process interrupted, users are still safe. This is because nodes overwhelmingly support the remaining 1% of rule-based blocks that control the decision.

On the other hand, exploiting the bridge on Ethereum and Solana would lead to irreversible losses, argues Buterin. This problem gets worse as the chain gets bigger.

Let's say 51% of strikes come from one of the 50 channels. In this case, all the chains are simple, what she calls "pathogens that threaten the entire ecological economy."

dYdX is expected to be fully decentralized by the end of 2022

A second set of derivative protocols, dYdX, unveiled four versions of its approach this week, with plans to become an open, community-based, fully decentralized platform after this year.

The architecture operates in two modes, with parts of the process such as staking and control being decentralized, while key functionalities such as ordering and off-chain mixing are handled by its sister agencies, dYdX Trading Inc. Hosted on centralized servers supported by Amazon AWS.

A company employee said, "There will be no management or significant significance to the failure of future procedures," and "every aspect of the process will be controlled. Respected by the community."

Last month, vulnerabilities in AWS technology revealed real weakness in some crypto markets, including dYdX, Binance.US, and Coinbase, and their prospects for medium servers to control their networks.

At the time, dYdX revealed the sincerity on its Twitter account, promising to offer a clear solution, saying:

"Unfortunately, there are still exchanges that rely on intermediary services (this, AWS). As we continue to talk about the process, we're engaging with the whole distribution, which remains our most important. One stain. "

dYdX seeks to improve its market share by presenting the market share of space, interest and products and selecting external monitors to measure market share while optimizing the appreciation of the ranking concept.

Near Protocol Raises $150M to Accelerate Web3 Adoption

Nearby protocol, a chain of outlets, achieved a $150 million seed this week in an effort to increase the visibility and adoption of Web3 applications on its network, always expanding its reach visit and its community base for Latin America, Turkey, India, etc. We are focusing on expansion in the region. .

The fundraising was led by venture capital firm We Arrows Capital, with additional partnerships from Mechanism Capital, Dragonfly Capital and Silicon Valley-based Andreessen Horowitz's a16z fund. Private investors include British billionaire hedge fund manager Alan Howard and Aave founder Stani Kulechov.

In a press release, Close to Foundation CEO Marieke Flament unveiled her new financial outlook.

“We are thrilled to have such an excellent list of sponsors supporting the NEAR mission. We look forward to using this money to improve blockchain technology in many countries around the world.”

In October 2021, the smart contracts company allocated $800 million for new projects in the non-financial (DeFi) space, such as app development, seed funding, and silver in the region.

Token function

The analysis shows that TVL's total of all DeFi entitlements fell slightly this week by 2.77% to $128.15 billion, including the total market loss.

The top 100 DeFi tokens by market capitalization have been bullish over the past 7 days, according to data from Cointelegraph Markets Pro and TradingView.

Privacy (SCRT) led the way with a 15% increase for the second consecutive week. Terra (LUNA) was up 6.32% and the 1 inch (1INCH) network was up 2.9%.