Latest news with #Rootstock
Yahoo
14-05-2025
- Business
- Yahoo
The Protocol: Lido Avoids Major Hack
Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. This is Margaux Nijkerk and Sam Kessler, CoinDesk's Tech team. In this issue: Hacking Attempt on Lido Results in 1.4 Ether Lost From Oracle Provider Bitcoin DeFi Security Improves as Rootstock Boosts Hashrate Share Ethereum's Next Upgrade 'Fusaka' Could Cut Layer-2 and Validator Costs Telegram Cracks Down on $8 billion Crypto Crime Marketplace Unknown block type "divider", specify a component for it in the ` option LIDO AVOIDS MAJOR SECURITY BREACH: Lido, Ethereum's largest liquid staking protocol, avoided a major security incident after one of its nine oracle keys was compromised in what appears to be a low-impact but serious breach involving validator operator Chorus One. Lido secures over 25% of all ether (ETH) staked on Ethereum, making it one of the most systemically important protocols in the Ethereum ecosystem. The compromised key was tied to a hot wallet used for oracle reporting, leading to the theft of just 1.46 ETH ($4,200) in gas fees. No user funds were affected, and no broader compromise was detected, per X posts from both Lido and Chorus One. — Tim Craig Read more. BITCOIN DEFI BLOSSOMING: Decentralized finance (DeFi) on the Bitcoin blockchain may still be in its infancy relative to Ethereum, but Bitcoin DeFi (BTCFi) is becoming safer and cheaper, crypto analytics firm Messari said in a new report. A central participant is Rootstock, one of the oldest Bitcoin layer-2 projects, crypto analytics firm Messari said in its "State of Rootstock" report. Rootstock is now secured by 81% of Bitcoin's total hashrate, meaning miners that account for amount the hashrate are also approving transactions on the layer 2. The figure was just 56% before the the onboarding of Foundry and Spiderpool, the world's largest and sixth-largest mining pools, respectively, in February. — Jamie Crawley Read more. FUSAKA PLANNING BEGINS: After the successful deployment last week of Pectra, Ethereum's biggest upgrade in more than a year, the network's core developers are already shifting focus to the next major chain upgrade: Fusaka. Pectra, the biggest code change to Ethereum since the Merge in 2022, introduced key changes aimed at making staking easier for institutions, improving wallet accessibility, and boosting transaction efficiency. Developers have already begun planning for Fusaka, the network's next upgrade, and have thus far agreed to include an Ethereum Improvement Proposal (EIP) called "PeerDAS" that could help the network support larger "blobs" of transaction data. — Margaux Nijkerk Read more. TELEGRAM CRACKS DOWN ON CRYPTO CRIME MARKETPLACE: Messaging app Telegram has closed thousands of channels belonging to suspected Chinese crypto-crime marketplaces after new research shed light on the situation, according to Elliptic. The closure follows a report published by the blockchain analytics firm on Tuesday into the fast-growing Telegram-based marketplace called Xinbi Guarantee. The Colorado-incorporated marketplace has processed over $8.4 billion worth of transactions using Tether's USDT stablecoin since 2022. It facilitates services relating to money laundering, operating crypto scam compounds and other illicit services, such as intimidation and sex trafficking, according to Elliptic. — Tim Craig Read more. Unknown block type "divider", specify a component for it in the ` option Robinhood Markets (HOOD), the California-based financial services company, said it agreed to buy Canadian crypto firm WonderFi (WNDR) for $178.98 million. The all-cash acquisition values WonderFi at 36 Canadian cents per share, a 41% premium over its closing price prior to the announcement. — Omkar Godbole Read more. Stock and crypto trading platform eToro (ETOR) debuted at $52 a share on the Nasdaq exchange. The company raised about $312 million from investors by selling 6 million shares at a price of $52 a piece. The listing values the company at $4.2 billion. EToro became the first U.S. crypto company to go public following the market uncertainty wrought by President Donald Trump's tariff actions. — Helene Braun Read more. Unknown block type "divider", specify a component for it in the ` option The Gibraltar government said it plans to establish the world's first rules for the clearing and settlement of crypto derivatives, creating a regulatory framework to improve market integrity and reduce key risks. Working with the Gibraltar Financial Services Commission (GFSC) and crypto exchange Bullish (whose owner, Bullish Group, is also the parent of CoinDesk), the government has built a framework over the past six months that tailors traditional financial clearing regulations to the virtual asset market. — Jamie Crawley Read more. Unknown block type "divider", specify a component for it in the ` option May 14-16: Consensus, Toronto May 19-23: Solana Accelerate, New York City May 20-22: Avalanche Summit, London May 27-29: Bitcoin 2025, Las Vegas May 27-29: ETHPrague, Prague June 8-22: Berlin Blockchain Week, Berlin June 30-July 3: EthCC, Cannes July 16-18: Web3 Summit, Berlin Sept. 22-28: Korea Blockchain Week, Seoul Oct. 1-2: Token2049, Singapore Dec. 11-13: Solana Breakpoint, Abu Dhabi
Yahoo
13-05-2025
- Business
- Yahoo
Bitcoin DeFi Security Improves as Rootstock Boosts Hashrate Share
Decentralized finance (DeFi) on the Bitcoin blockchain may still be in its infancy relative to Ethereum, but Bitcoin DeFi (BTCFi) is becoming safer and cheaper, crypto analytics firm Messari said in a new report. A central participant is Rootstock, one of the oldest Bitcoin layer-2 projects, crypto analytics firm Messari said in its "State of Rootstock" report, published on Thursday. Rootstock is now secured by 81% of Bitcoin's total hashrate, meaning miners that account for amount the hashrate are also approving transactions on the layer 2. The figure was just 56% before the the onboarding of Foundry and Spiderpool, the world's largest and sixth-largest mining pools, respectively, in February. Messari also observed that transaction fees on Rootstock are 95% cheaper than the average Bitcoin transaction and 55% cheaper than those on Ethereum. Rootstock is one of numerous projects looking to bring greater utility to Bitcoin through expanding the provision for DeFi with smart contracts, enabled by "BitVMX", a modified version of the BitVM programming language. Other prominent Bitcoin layer-2 projects include Stacks and BOB ("Build on Bitcoin"). The project has also connected with bridging protocol LayerZero to enable Rootstock-native applications to connect with dozens of other blockchains, including Ethereum and Solana. Its momentum sets the stage for growing adoption of BTCFi through the remainder of 2025, according to Messari. 'As BTCFi continues to grow, Rootstock is well-positioned for broader adoption through core upgrades like a 60% reduction in transaction fees, alongside sustained investment in builder education and incentive programs," Messari analyst Andrew Yang in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
12-05-2025
- Business
- Arabian Post
Rootstock Enhances Bitcoin's DeFi Security with Increased Hashrate Share
Rootstock, a prominent project designed to bring advanced functionalities to Bitcoin, has made significant strides in improving the security of decentralised finance through an enhanced hashrate contribution. As Bitcoin's blockchain remains the most dominant in the world, Rootstock seeks to provide additional layers of functionality, particularly by enabling smart contracts and decentralised applications on top of Bitcoin's network. This development is seen as a major step forward in bridging the gap between Bitcoin's strong security features and the flexibility that DeFi protocols demand. For years, Bitcoin has been regarded as a secure store of value but lacked many of the programmability features available in other blockchain networks, notably Ethereum. While Ethereum's dominance in the DeFi sector is well-established, Bitcoin's limited scripting capabilities have prevented it from achieving similar prominence in the space. Rootstock, by integrating smart contracts with Bitcoin, aims to leverage Bitcoin's security and decentralisation while also making it more adaptable to the growing demand for DeFi services. One of the key advancements in Rootstock's latest efforts is its contribution to Bitcoin's overall hashrate. Hashrate is the computational power required to process transactions and secure the network, and it plays a vital role in maintaining blockchain integrity. The increase in Rootstock's hashrate share is an important factor in improving Bitcoin's security, particularly as the ecosystem grows more complex with the addition of smart contract functionality. By boosting its hashrate share, Rootstock provides a stronger shield against potential attacks, such as double-spending or malicious 51% attacks, that could compromise the security of both Bitcoin and its additional smart contract capabilities. See also Telegram Bond Fund to Tokenise $500m Bonds on TON Network The significance of Rootstock's contributions goes beyond technical performance. As it integrates with Bitcoin, Rootstock makes it easier for developers to build on the Bitcoin blockchain, providing greater flexibility in the development of dApps. Rootstock's compatibility with Bitcoin allows developers to tap into Bitcoin's established and robust user base while adding advanced functionalities through the Rootstock platform. Smart contracts, which are at the heart of DeFi, enable trustless financial transactions without the need for intermediaries. By combining these with Bitcoin's inherent security model, Rootstock offers a promising solution for users and developers alike. The project's work in enhancing security through hashrate support complements its broader mission of ensuring the long-term viability and competitiveness of Bitcoin in the rapidly evolving DeFi landscape. Although Bitcoin's energy consumption has drawn criticism due to its reliance on proof-of-work , Rootstock's innovation demonstrates that scaling the network can be done without sacrificing security. As one of the leading DeFi platforms to incorporate Bitcoin into its framework, Rootstock's developments suggest that Bitcoin could become a more formidable player in the DeFi sector moving forward. For Bitcoin to thrive in the DeFi world, the integration of features like smart contracts and improved security is essential. Rootstock's success in merging these elements without compromising Bitcoin's decentralisation model is a critical step in this direction. The increase in hashrate not only strengthens the network's defences but also reassures users and investors of the project's commitment to robust security practices. Arabian Post – Crypto News Network
