Thursday, 30 December 2021

Market Summary

Market Summary 30 December 2021

Bitcoin Price: U$46,464.66 (-2.27%)
Ethereum Price: U$3,630.19(-4.29%)


ROSE gains 54% in a week as Oasis Network ecosystem expands

  • The most significant development for ROSE that helped jumpstart its price rally was the Nov. 17 announcement revealing a $160 million Oasis ecosystem fund designed to help founders and projects build on the Oasis Network and ecosystem.
  • The development fund is backed by a host of partners and investors including Draper Dragon, Hashed, FBG and Pantera Capital, and has the goal of helping expand the ecosystem across multiple sectors such as decentralized finance (DeFi), NFTs, Metaverse, data tokenization, data DAOs, data governance and privacy applications.
  • A major factor attracting projects to Oasis is its built-in privacy features that are designed to support confidential smart contracts; its ability to process transactions for 99% less than the cost on Ethereum adds extra incentive to attract promising applications.


‘Critical’ Polygon bug put $24 billion in tokens at risk until recent hard fork

  • Ethereum scaling project Polygon was at risk of losing nearly all of its MATIC tokens until it upgraded its network earlier this month.
  • The problem was a “critical” vulnerability in Polygon’s proof-of-stake genesis contract, which could have allowed attackers to steal over 9.2 billion MATIC tokens (currently worth over $24 billion). The total supply of MATIC tokens is 10 billion.
  • The vulnerability was reported on the bug bounty platform Immunefi by a whitehat hacker known as Leon Spacewalker. According to details shared Wednesday, the bug essentially could have allowed attackers to arbitrarily mint all of Polygon’s more than 9.2 billion MATIC tokens from its MRC20 contract.
  • After Spacewalker found the bug, Immunefi informed the Polygon team the same day. The team then confirmed the vulnerability and moved to update the Polygon network, initially with an update for its Mumbai testnet.


Decentraland to get a Times Square New Year’s Eve celebration

  • The blockchain and crypto investor Digital Currency Group (DCG) and the international real estate firm Jamestown announced Wednesday that they’re going to recreate a significant cultural site within the virtual world platform Decentraland — One Times Square. 
  • One Times Square is a 26-story building in the middle of New York City’s Time Square. Its roof is where the New Year’s Eve Ball Drop Celebration occurs every December 31, and the building itself is owned by Jamestown.
  • On December 31 at 11 p.m. EST, the virtual One Times Square will have its own digital New Year’s Eve Ball and will be the site of a New Year’s Eve party, marking one of the first times a major cultural celebration has been translated into the metaverse. 

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