The Ethereum network continues to enjoy being the top smart contract platform in the blockchain industry. However, the competition is slowly gaining market share because high costs and network congestion are still challenges for the protocol. One project that has been gaining traction in August is Fantom (FTM), a layer one smart contract platform that utilizes a directed acyclic graph architecture as a means to solving the problems of slow transaction speeds and high transaction fees. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.15 on July 20, the price of FTM rocketed 500% …

Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a severe exploit, with a hacker stealing nearly $19 million from its platform. An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp token, according to an investigation by blockchain security firm PeckShield. Announcing the news Monday, Cream Finance said that the protocol has stopped the exploit by pausing supply and borrow contracts on the Amp token. “No other markets were affected,” Cream Finance stated. C.R.E.A.M. v1 market on …

The Ethereum (ETH) network is currently the dominant layer-one protocol in terms of smart contract deployment and active users, but the race to become the 'world’s computer' is far from settled because competing protocols are gaining traction by offering solutions to high transaction costs and slow confirmation times, the biggest problems facing the network. One project that has been on the rise over the past month is Tezos, a proof-of-stake blockchain network that is designed to evolve over time without the needing to undergo a hard fork. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low …

The rise of decentralized finance and nonfungible tokens has transformed the blockchain ecosystem and generated near unimaginable riches for investors, but none of this would be possible without the strong foundation offered by layer-one blockchain networks like Bitcoin and Ethereum. Smart contracts and layer-two protocols promise to revolutionize the finance and logistics industry, but they require a robust, secure and distributed network to operate on and to ensure their immutability. Currently, most of the top layer-two projects operate on the Ethereum network, and this has resulted in increased transaction costs and delayed confirmation times due to network congestion. The network’s …

Cardano founder Charles Hoskinson has responded to criticism over the Cardano Foundation’s partnership with Coinfirm, saying it was necessary for the adoption of ADA. The Cardano Foundation announced its partnership with the blockchain analytics provider on Tuesday, which will see Coinfirm’s analytics being utilized to ensure compliance with frameworks such as the 6th Anti-Money Laundering Directive and Financial Action Task Force’s guidelines. “The tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ADA held in their wallet,” the announcement read. Not everyone welcomed the move, however. On Thursday, Weiss …

Chainlink is the leading oracle provider, and the project has onboarded over 281 crypto projects in 2021. Some of these include heavyweights, like Huobi's ECO Chain, the Hedera Governing Council and Alchemix. Launched in October 2020, Chainlink's verifiable randomness function, or VRF, has also gained notoriety among decentralized applications (DApps). VRF provides an automated source of randomness to ensure that prizes and rewards are issued in a verifiably fair fashion. For example, on Aug. 13, Arbitrum — a layer-two Ethereum scaling solution — launched a beta mainnet service integrated with Chainlink's oracle data feed and intends to add a "Proof …

Cardano (ADA) addresses with a balance greater than $1 million have surged 173% during the latest ADA price rally. Specifically, the ADA/USD exchange rate gained almost 200% after bottoming out at $1.007 on July 20. The pair reached its record high of $3.02 in the previous session, a move that was followed by a 6.42% price correction to $2.73 at the time of writing. Meanwhile, the same period saw the total number of Cardano wallets that hold at least $1 million worth of ADA tokens surge from 3,625 to 9,830, per information provided by data analytics platforms CoinMetrics and Messari. …

The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%. Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break below the lower trendline. The profit target during such a negative move comes to be as below as the maximum wedge height. ADA/USD currently ticks all the boxes for forming a falling wedge pattern, as shown in the chart below. The pair now …

Deutsche Boerse-backed digital asset firm Crypto Finance AG and Swiss business-to-business transaction bank InCore are launching a new tokenization tool based on the Tezos blockchain. InCore Bank officially announced on Tuesday a new collaboration with Crypto Finance AG and Swiss IT consulting firm Inacta to introduce new digital financial products based on Tezos, a decentralized, open-source, proof-of-stake blockchain network. The involved companies have developed a new Tezos token standard for asset tokenization built on the Tezos FA2 standard, a multi-asset interface for Tezos allowing developers to invent token types like nonfungible tokens. Using the Tezos FA2, Inacta has developed the …

Cardano blockchain’s native asset, ADA, reached a new record high on Monday as investors pinned hopes on an upcoming smart contracts feature that expects to boost the cryptocurrency’s adoption. The ADA/USD exchange rate topped out at $2.899 around 9:00 am UTC, raising anticipations that it would easily close above $3 in the coming sessions. Many analysts, including pseudonymous chartist PostyXBT, noted that the Cardano token had entered a “price discovery mode.” Meanwhile, David Gokhshtein hinted that ADA/USD might continue its bull run until Sep. 12, the day Cardano is going to integrate a smart contracts feature to its blockchain via …

Binance Coin (BNB) rallied 30% in two weeks, but the fourth-largest cryptocurrency by market capitalization seems to be struggling to break the $450 resistance. Coincidently, this is the same top from June 3, which was followed by a 48% correction down to $225. Given the similarity of the situation when compared with previous instances, investors have reasons to doubt the recent performance, especially as Solana (SOL), a competing smart contract platform, reached an all-time high on Aug. 18. The move was partially attributed to a recent $70-million crowdfund to support Solana's decentralized exchange (DEX), Mango Markets, and the launch of …

As concerns around the use of the Ethereum blockchain rise, many have turned to the Cardano Ecosystem as a solution to the increasing fees and slower transactions that have resulted from the influx of users. ADAX founders have recognized Cardano for its scientific approach to smart contracts, which are believed to redefine the future of DeFi, with a new approach to doing business. As a result, ADAX is stepping up to provide a suite of Cardano-tailored DeFi solutions and a trading venue that facilitates token swaps, NFT trading and more. The team behind ADAX shares that the end goal of …