Yet the term “stablecoin” may have led some to tragically miss out on this assessment, and dangerously weigh only one feature (such as interest rate on a lending platform). Tokenholders may also delegate others to validate transactions on their behalf, sharing in any revenue generated. Terra also offers additional guidance to validator nodes on the best practices for helping to keep the network secure.
Overall, Etherscan is an essential tool for anyone working with Ethereum. It offers a wealth of features and data points that make it an invaluable resource for developers, users, and researchers alike. If you’re not already using Etherscan, you should definitely check it out. In addition to being a valuable tool for Ethereum users, Etherscan is also one of the most popular websites in the blockchain space. It offers a wealth of features and functionality that are used by the millions of people who visit the website every month. During an address poisoning attack, a scammer creates a “spoofed” address that is nearly identical to one that their target has previously transacted with.
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LooksRare became the first NFT marketplace to integrate Blockscan Chat. AlphaWallet had earlier been the first wallet to integrate the feature. The Ronin bridge was hacked for $625M after 5 of 9 validators were compromised.
Creating an account on Etherscan is free and only takes a few seconds. Simply click the “Sign Up” button on the top right of the page and follow the instructions. Once you have created an account, you can login and access all of Etherscan’s features. Etherscan is one of the most trusted and popular Ethereum block explorers.
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However, some users have raised concerns about its reliability. While previously there have been hacks to the system, the damage has been minimal. No users were ever at risk of losing their crypto assets and the developers acted quickly to patch any vulnerabilities.. There are far more details than all this, more than can be considered in a blog post. We’ve not discussed borrowing/lending platforms (like Anchor, mentioned above).
Coinbase, meanwhile, suggested that this type of attack originated in November 2022 and had led to $19 million of thefts on various platforms by February 2023. The site will hide zero-value transfers to protect against address poisoning attacks. On the flip side, the value of LUNA can also decrease if UST is perceived as unstable.
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You can also contact the Etherscan team directly if you spot an error on the platform. If you are curious about other blockchain explorers, you may want to try BscScan (created by the same development team as Etherscan) or Polyscan (used for transactions on the Polygon Network). Prometheum Ember Capital has secured approval to become a “qualified custodian” for digital assets considered securities by the SEC.
It is fun to imagine how crypto systems and innovative financial engineering may create new kinds of stablecoins in the future. Or “$TUITION,” a coin that fluctuates with 1 year’s worth of schooling at a college or other institution. Parents or relatives https://cryptolisting.org/coin/mvp could invest fractional $TUITION values incrementally over time until 4 $TUITION tokens are secured for the future. In a recent post about stablecoins, Vitalik Buterin shares an important point about understanding the limits of these assets.
About Terra Classic
RAI, as noted by Vitalik, is backed by ETH, a cryptocurrency with perhaps the largest network effect and diverse applications. For this reason the demand for ETH will be less correlated with demand for stablecoins that get collateralized by it (like RAI). This means RAI is less likely to fall into that death spiral, less likely to get snatched up in a nasty feedback loop because there is enough other economic activity to buttress it. It is well known in crypto that the term “stablecoin” is a misnomer.
- The site will hide zero-value transfers to protect against address poisoning attacks.
- The scammer then sends zero-value transfers from the spoofed address to the target’s address.
- Terra (the ecosystem) was insufficiently diverse in on-chain activity.