Author: Kryptonews

This blog post discloses a threat against the Ethereum network that was present from the Merge up until the Dencun hard fork. Background Prior to the merge, different message size limits for RPC communication were set to protect clients from denial-of-service (DOS) attacks. These limits, applied to messages received via HTTP endpoints, were carried over to the engine API, which plays a crucial role in connecting Execution and Consensus Layer clients during block production. Due to the engine API’s involvement in block production, it became possible for blocks to be produced that surpassed the RPC size limits of some clients…

Introduction to Smart Contract Vulnerabilities Smart contracts, particularly those built on the Ethereum blockchain using the ERC-20 standard, are susceptible to various security risks due to their complex nature. These vulnerabilities can result in financial losses, theft, or contract manipulation if left unaddressed. Understanding common ERC-20 security risks is crucial for developers to implement robust safeguards against potential exploits. Common ERC-20 Vulnerabilities 1. Reentrancy Attacks Reentrancy is one of the most notable smart contract vulnerabilities, where an attacker traps a contract in an infinite loop of function calls, draining its funds or manipulating its behavior. This occurs because contacts incorrectly…

Mihailo Bjelic, one of the four co-founders of Polygon, is exiting the network.Bjelic made the announcement on X, “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation, and wind down my day-to-day involvement with Polygon Labs,” he said.With Bjelic’s exit, co-founder Sandeep Nailwal becomes the last remaining member of the original founding team.Nailwal acknowledged Bjelic’s contributions to the network and wished him luck for the future.The layer 2 network, which was original known as Matic, was formed by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic and Anurag Arjun.As of writing, Polygon’s POL is…

An analyst known for making timely crypto calls believes that altcoins may have now entered a massive uptrend after Bitcoin (BTC) hit new all-time highs this week. Pseudonymous analyst Bluntz tells his 306,000 followers on the social media platform X that altcoins may start outperforming Bitcoin as the digital assets are suddenly flashing bullish. “Looking increasingly like a full-blown altseason has started. Trying not to get too ahead of myself, but all signs are pointing that way for now.” Looking at Dogecoin (DOGE), the analyst says the top memecoin is on the verge of printing a massive breakout rally, also…

Alibaba CEO Eddie Wu has announced plans to build a global cloud network following the company’s commitment of over 380 billion yuan (approximately $52.7 billion) to enhance computing and AI infrastructure in China. According to the company, Alibaba Cloud will focus on expanding into international regions like Japan, South Korea, Southeast Asia, the Middle East, Europe, and the Americas. The goal, according to the company, is to provide consistent AI infrastructure services for Chinese enterprises both domestically and internationally. Presently, the Alibaba Cloud service operates across 87 zones, with the service cutting across 29 regions. It offers 394 cloud computing…

This past week, Coinbase joined the S&P 500, one of the world’s most elite stock indexes — a triumph for the crypto firm, which spent much of the 2020s battling US government agencies like the SEC and Commodity Futures Trading Commission for its survival. But this attainment is not about one company alone. “This is more than an achievement for Coinbase; it’s a landmark for the broader crypto and blockchain industry,” said Meryem Habibi, chief revenue officer of Bitpace. Coinbase joining the S&P 500 doesn’t just boost the owner of the largest US cryptocurrency exchange. “It cements the legitimacy of an entire…

Understanding Blockchain Governance Models Blockchain technology relies on consensus mechanisms to secure transactions and validate data across a distributed network. The two most prominent models are Proof-of-Work (PoW) and Proof-of-Stake (PoS). Each method has distinct advantages and disadvantages, shaping how blockchains function in terms of energy efficiency, security, and scalability. Proof-of-Work (PoW): The Energy-Intensive Pioneer PoW was the first consensus mechanism, introduced by Bitcoin in 2009. It requires miners to solve computationally intensive puzzles to verify transactions and create new blocks. The miner who solves the puzzle first earns the right to validate the block and is rewarded with newly…

Key Takeaways: Mihailo Bjelic has stepped down from the Polygon Foundation but signaled he will stay active in the crypto space. His departure follows two other high-profile exits, though Polygon continues pushing forward with new initiatives like the Agglayer Breakout Program. Industry figures praised Bjelic’s contributions, highlighting his key role in shaping Polygon’s growth and influence. Mihailo Bjelic, one of the driving forces behind Ethereum scaling solution Polygon, has officially stepped down from his role at the Polygon Foundation.In a post shared May 23 on X, Bjelic announced he would wind down his day-to-day involvement with the project but hinted…

Well-known Hyperliquid trader James Wynn has increased his 40x leverage long Bitcoin bet to $1.25 billion after closing his $PEPE position for a $25.2 million profit.On May 24, Lookonchain reported that Wynn entered an 11,588 BTC position with an average entry price of $108,243 and a liquidation level of $105,180.The move came hours after Wynn exited his Ether (ETH) and Sui (SUI) longs at a $5.3 million loss. At the time, he used the proceedings to double down on Bitcoin (BTC), increasing his position to 11,070 BTC.Wynn began his Bitcoin long position with $830 million on May 21, trimming $400…

Leading U.S. banks are in early talks to launch a joint stablecoin venture, while the Trump family’s USD1 stablecoin surges to prominence, highlighting blockchain’s growing role in reshaping digital payments and raising ethical concerns.A Stablecoin Project Backed by America’s Top BanksMajor U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring a collaborative stablecoin initiative to compete in the $245 billion stablecoin market, currently led by Circle’s USDC and Tether’s USDT.Source: DefiLlamaAccording to The Wall Street Journal, these discussions involve payment firms like Early Warning Services (Zelle’s operator) and The Clearing House, co-owned by the banks.…