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How to Regain Data Privacy with Blockchain Technology?

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VOC, Voice of Crypto, Blockchain

Do you know about the New Yorker cartoon from the early 90s where a dog, while using a computer, explained to his friend, “On the Internet, nobody knows that you’re a dog”? That used to be when the internet activities of the users remained private because tools to trace every click and pixel of the users didn’t exist.

However, to publish a similar cartoon today, its tagline probably would have been somewhat like, “On the internet, everyone knows what brand of kibble you like, and every time you even look at another dog.”

Today, the relationship between humans and the internet has been so closely intertwined that most of us can’t even imagine a life without it. Most of our everyday tasks, including road navigation, purchasing groceries, staying in touch with people, learning about things across the world, and even our jobs, are now dependent on the internet.

Tech giants like Google, Meta, Amazon, Alphabet Inc., and a handful of other companies, dominate the online ecosystem and earn an overwhelming share of their profits every year just by monetizing the information of their users. 

 Data Monetization 

The companies that own the servers you are surfing on constantly watch your every move online. These companies observe your every click and search via the pixelated internet world on every app and website.

Apart from this, sites like Meta’s Facebook and Instagram coerce you into giving up certain data. When combined, all these data serve as a precious commodity. While these data collections don’t always have atrocious objectives, this would not always be the case.  

The Cambridge Analytica scandal of 2014 was an evident example of a bold invasion of privacy.  Mostly these data serve for targeted ads to efficiently monetize the ‘free’ platforms. However, we can’t overlook that it is a terrifying form of overstepping, and you are losing the value you create online daily to the stealers.

The most horrific part of all this is that lack of enough mainstream alternatives has led people to ‘accept’ that this breach is a consequence of internet use. 

Blockchain- a Decentralized Approach

With the continual advancements in blockchain technology, new ways to monetize our internet are emerging. These ways would not only protect the privacy of its users but also restore the ownership of data to the users, the rightful owners. With blockchain, the users will now be able to regain their rightful ownership over the data they generate and the content they create. 

Blockchain tech operates on a decentralized ledger system shared among several nodes or computers. Unlike the central or primary ledger system, this system operates proficiently with high scalability and would nullify the requirement for any trusted intermediary. 

As the decentralization removes the need for these delegates and allows anyone to program applications on these ledgers, the robber barons would lose centralized control over our activities. With the lack of power to control attribution or use of the user’s data as per their needs, these giants would no longer be able to control the online capabilities of users. 

As blockchain tech is still in its infancy, we have yet to realize its true potential and consequences. However, one crystal clear thing is that it’s not late before a much-needed revolution or systematic change occurs in the online world.

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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5 Important Charts to Consider before Investing

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This week and the last have been very eventful for the crypto and the stock markets.

Bitcoin and Ethereum, the two biggest cryptocurrencies by market cap, witnessed periods of high volatility last week, with bitcoin even going below $20k a few days ago and Ethereum bottoming out and briefly touching the $1300 level.

The stocks of top companies like FexEx have suffered earnings misses as well, with others like the S&P 500 seeing earnings-increase projections much lower than what they were in Q3 of 2020

This article is about the top crypto, stocks, and other charts we think are interesting enough to watch amid all the ‘drama’ going on in finance lately. Taking these charts into account might serve as an insight as to what is going on in the markets and as a way to make predicting where the markets might be headed easier.

1) ETH/BTC Crypto Charts

The comparison between Bitcoin and Ethereum’s prices and charts is by no means a fair one.

Ethereum has recently witnessed far more volatility than Bitcoin, especially with the merge and all the speculation that came with it. However, comparing these cryptocurrencies can be an important factor, considering how they are the biggest two in the market.

ETH/BTC Crypto Charts

ETH/BTC Crypto Charts | source: TradingView

The relative prices between the two can effectively judge the sentiment of the crypto market.

Speculating what might happen with Ethereum after the merge is still very much alive and affects its price nonetheless.

This speculation about Ethereum has also led to speculation about when the next general market bull run might be coming in.

2) FedEx Highs and Lows

The chart on FedEx, in a way, serves as a gauge of sorts for economic conditions in general.

Over the last week, FedEx had one of the largest earnings misses in its history. Its CEO, Raj Subramaniam, had earlier highlighted his expectations for a global recession. FedEx’s stock saw its largest loss in a single day and one of the biggest weekly drops it had ever experienced.

Market Conditions on FedEx

Market Conditions on FedEx | Source: tradingview

As you can see, the market conditions in the chart above are steeply declining.

According to predictions, a wave of Q3 earnings reports is expected from the market, showing updates on how inflation and wage growth has affected the market.

There are many ways the Stock’s EPS (earnings per share) can still worsen. For example, things aren’t looking so good on the S&P 500 in Q3, as analysts expect a 3.7% earnings increase, from an estimate closer to 9% around July.

If the 3.7% earnings growth happens, it will be its lowest since Q3 in 2020.

3) US Treasury Bonds Charts

Last year, the one-year treasury bond went up and above 4%, which is a bad sign for the future. When this happened, everyone knew things would likely break very soon.

However, recently, the whole curve has almost inverted and flattened across the US01Y to the US10Y, showing the market’s demand for higher rates in what may very well be the most unfavorable years for the US government in terms of debt throughout history.

US10Y versus US01Y charts

US10Y versus US01Y charts | Source: Tradingview

The Federal Open Market Committee (FOMC) will be having its meeting in the coming days, which will likely cause a hike of about 75 basis points. However, the market has to move concerning the probability of a 100 BPS move.

4) BTC versus DXY Chart

The US dollar is one of the strongest currencies in the world, and liquidity shortages affect everyone regardless.

Foreign currencies have been falling relative to the dollar for a while now, and things don’t appear to be stopping anytime soon, especially as interest rates are rising and borrowing costs continue to follow.

In general, this means that most of the world is losing the purchasing power to service the USD’s denominated interest and is running out of the means to refinance when these rates inevitably go higher.

Other assets also appear to be losing compared to the US dollar despite inflation and debasement concerns. One such asset, as most people know, is bitcoin. The benchmark cryptocurrency.

Although there are signs that the USD is about to hit its highs and potentially reverse, traders and general market participants have to ask when this reversal is bound to happen constantly

5) Gold

An inverse correlation between the US10Y and gold has been observed, and it appears that this correlation lives on. As the US10Y soars higher and the expectations on long-term inflation continue to climb, gold appears to be headed for the downside over the foreseeable future.

The correlation between these two has historically held despite deteriorating market conditions and continues to play out, even today.

Visualisation of Gold’s downtrend

Visualization of Gold’s downtrend | Source: Tradingview

As it is in recent times, with inflation and monetary debasement, gold still appears to be following its old patterns and fails yet again to act as a monetary hedge.

 

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Why Do Flash Loan Attacks Occur in DeFi Ecosystem?

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VOC, Voice of Crypto, Crypto Attack

Defi loans help borrowers to purchase assets that are of high value without having the prerequisite of providing any collateral. Studies suggest that flash loan attacks are here to stay and can get increasingly severe with time.  

Are Flash Loans Risk-Free

Traditional lenders take on two forms of risk: default risk and liquidity risk. The first one occurs when the borrower runs away with the money. The second manifests when a lender lends out too many of its assets, doesn’t receive timely repayments, becomes unexpectedly illiquid, and fails to meet its obligations. 

Flask loans mitigate both of these risks. In simple terms, a flash loan helps you to borrow as much money as you want for a single transaction. But, the catch is you must pay the amount back at the end of the transaction. Otherwise, it will automatically roll back your transaction. 

Recent Flash Loan Attack

Flash loans are gaining popularity. Recently, two hackers have utilized flash loans to attack the margin trading protocol. The first attack was for $350,000, followed by a copy at an attack of $600,000.

Investors have described these attacks to be magnificent. In each of these attacks, a hacker instantaneously borrowed vast amounts of ETH, threaded it through a chain of vulnerable on-chain protocols, and extracted vast sums of money from stolen assets, followed by paying back their ETH loans.  This was conducted in a single Ethereum transaction. 

The identity of the attackers or the location from where they attacked is still unknown. Both hackers started with nothing and successfully walked away with thousands of dollars in value. Neither of the attackers has left any traces that will help to identify them. 

Why Are Flash Loan Attacks Rising

Firstly, many attacks require a large amount of up-front capital, which is not true for flash loan attacks.

Secondly, flash loan attacks help to reduce the shame on the attackers. For example, if you want to manipulate Oracle with $10 million Ether, even if you own enough capital, you will never want to risk it. Your ETH will get tainted, and exchanges can reject deposits.

Overall, it is extremely risky! But when you take a flash loan of $10 million, no one cares. The loan comes from the collateral pool of dYdX; thus, it is not considered tainted – any taint on the dYdX kind of disappears. 

 

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A post-graduate is Sociology, Sreerupa’s interest primarily lies in researching on the global market trends of production and consumption.

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Know More About Queen Elizabeth II Inspired Artwork NFTs on OpenSea

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VOC, Voice of Crypto, NFTs, Queen Elizabeth

Thousands of Non-Fungible token (NFT) artworks featuring Queen Elizabeth II started to flood the leading NFT marketplace, OpenSea, as soon as the news of Her Majesty’s demise was announced in the UK. The list of featured NFTs ranges from pictures of the Queen to art pieces associated with popular NFT collections.

The Queen Official has over 8000 NFTs from which buyers can choose different variations of images of the Queen. Not only NFT but also queen-related meme tokens have started to flood the market, such as “Queen Elizabeth Inu,” “Save the Queen,” “QueenDoge,” “Queen,” and “London Bridge.”

Amid the overflow of NFTs and meme tokens, the QueenE DAO collection has seen a remarkable spike in demand and price of its NFTs. Also, to celebrate Her Majesty’s life’s historical moments, the Queen Elizabeth II NFT tribute Project hosted the final auction.

Queen Elizabeth’s Death Sparks Outrage Over Meme Coins

Even though this historical event of the UK’s longest-running monarch’s passing away has ignited condolences and sympathy from around the world, the use of it as a money-making opportunity has also outraged the crypto community.

Within six hours, around 40 meme coins were created, including meme coins bearing the name of the new ruler, King Charles III. This quick transformation of the Queen into an NFT has started Twitter wars. Some people are deeply saddened and hurt upon learning of the new NFT collection. 

 

How fast have NFTs taken over the market? 

One cannot make an investment decision under impulse. Instead, investment decisions ought to be well-strategized. When the NFTs took a blow a few years back, most people were left in a dilemma about whether they will stay relevant over the following years or not. But NFTs still ended up becoming a multi-million dollar industry.

New concepts, innovative approaches (like collectibles, art tokens, metaverse), and user-focused content helped the NFT market to grow and spread globally.

The spike further spurred within a few minutes after the Queen’s death. In fact, an ETH-based NFT program named QueenE is hosting its final auction for the Queen’s artworks as memoirs. 

Will the NFTs last long enough in the market? 

Sales of NFTs have slumped since their peak. The spike in sales follows a fall in the number of unique NFT buyers last month to less than 500,000 for the first time in a year.

Some investors are selling off their digital assets, citing their fears about losing funds. But there are also plenty of people in NFT-based communities who are sure to bring up the hype.

Investors are still willingly risking vast amounts of money in this sector and choosing NFTs over traditional assets as an investment resource. Such a choice proves that NFTs are here to stay for a long time with us. They will thrive as more and more companies join the NFT fandom. 

 

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A post-graduate is Sociology, Sreerupa’s interest primarily lies in researching on the global market trends of production and consumption.

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5 Most Prominent Crypto Airdrops for September 2022

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Lately, Crypto Airdrops have been the buzzword in the community as major blockchain projects are offering them. 

Blockchain organizations use airdrops to give away free crypto coins to their community to spur uptake. Several Ethereum-based, Decentralized Finance projects have staged record-breaking airdrops; for example, Instadapp, one of DeFi’s most popular portfolio management tools, airdropped 11,000,000 INST tokens to Maker DAO, Compound, and Aave users on Ethereum and Polygon.

In August 2021, the on-chain trading platform dYdX unveiled its governance token and airdropped 7.5% of the tokens to early users. Therefore, crypto airdrops can be one of the best passive income sources if done with due diligence. Here’s a list of the most prominent crypto airdrops to watch out in September 2022.

1. Cornerstone

End date: September 19, 2022  

Cornerstone is a meta governance hub for NEAR and Aurora, among other protocols. It manages the assets of all the protocols it governs, maximizes capital efficiency, and reduces cannibalization among protocols. $CORN is the native token of protocol and enables holders to participate in DAO governance of various Dapp Protocols

Cornerstone has organized a Discord Community Campaign with a total reward pool of 10,000 CORN. The first snapshots were taken between July 20 to July 25, 2022.  The remaining snapshots, 10 in total, will be taken until the launch of the platform, expected to happen around September 19, 2022. 

This campaign is organized for Cornerstone’s early supporters. It has a series of 3 activities opened for their discord users to earn $CORN rewards by engaging and contributing to the Cornerstone Community. Winners will be announced by September 19. 

2. Rebus

Start date: September 3, 2022 

Rebus is a regulated investment platform that utilizes its native utility coin, $REBUS, to provide DeFi investment tools for traditional investors. It aims to create a wide range of financial products tailored to the needs of TraFi Banks willing to offer crypto to their customers. 

To boost its adoption, Rebus is airdropping free REBUS to ATOM, OSMO, and EVMOS stakers. Eligible users can claim free REBUS from September 3, 2022. In addition, the WAX community is also eligible for this Rebus airdrop.  

3. Retrograde

Retrograde protocol is built on top of Astroport, which allows Astroport liquidity providers and ASTRO stakers to get the most out of the Astroport platform with minimum cost and effort.

The protocol is airdropping a total of 10M RETRO to Astroport users. Non-lockdrop ASTRO-UST liquidity providers and stakers who held ASTRO by March 30, 2022, Astroport Lockdrop participants, and Astroport Bootstrap Auction participants are eligible for this airdrop.

4. inSHAPE Airdrop

End date: September 30, 2022 

inSHAPE is a Move to Earn app based on the Binance smart chain ecosystem. This platform is suitable for users seeking tokens with improved utility, which goes beyond the blockchain. It offers rewards based on the users’ exercise time. 

Basically, it is a combination of GameFi elements aiming to solve real problems in the M2E Ecosystem. inSHAPE is airdropping 20.000 SHAPE tokens and 3 VIP Mystery Boxes containing a special NFT. 20.000 SHAPE tokens to 20 random winners (1.000 SHAPE tokens for each). The Top 3 participants will receive a VIP Mystery Box with a special NFT called the inSHAPE Wild Cards All Sports VIP Edition. 

5.MAXX Finance Airdrop

End date: September 30, 2022 

MAXX Finance transforms the traditional concept of time deposits/certificates of deposits on the blockchain into an entirely fair and transparent DeFi protocol. They aim to boost decentralized finance’s trust, transparency, and sustainability. MAXX Finance is airdropping MATIC and MAXX tokens during their airdrop promo. 

5.000 MATIC tokens will be shared by 100 entrants each time they reach +10,000 new subscribers. 200.000.000 MAXX tokens will be shared by 200 entrants who joined before the Liquidity amplifier launch 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)

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Krutika Adani Author

Krutika is an experienced Crypto News writer and Technical analyst. With over 3 years of extensive crypto knowledge, she has written on various subjects, including Price analysis, Whitepapers, Metaverse, and other crypto-related topics.

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Here’s a List of Most Frequently Searched Crypto Questions

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To look up the internet or to “Google it”still remains one of the easiest ways to understand, explore and acquaint with the world. While the nature of searches reveals your persona and sentiments, it also reveals much about the topic/field you are searching for. It is no different in the case of cryptocurrencies.

Let’s see the famous and most frequent Google searches on cryptocurrency to reveal more about investor sentiments. Studying and assessing the nature of Google search reveals a lot about investor sentiments amidst a bearish crypto market.

Recent studies on the questions searched on Google indicate a growing curiosity amongst investors and novices in the crypto market.

What Is Cryptocurrency

Even after 13 years of cryptocurrency making it to traditional finance, the most prevalent question remains, “What is cryptocurrency? The google search index reveals a global search volume of 256,000 for the question above. Such a search volume indicates the rising need to educate the masses on cryptocurrency, its utility, and the overall crypto market.

What Is Crypto

The second most common question searched by individuals read, “What is crypto?” Though this is a mere reiteration of the first question with a global search volume of 54000, it further indicates the need to educate the masses. Combining the first two questions and their search volumes indicates that most individuals are unaware or unsure of cryptocurrency, even in current times.

How to Invest in Cryptocurrency

With the nature of Google search following a systematic trend, the third most frequently searched question is “How to invest in cryptocurrency?” With a global search volume of 44,000, the question reveals an increasing curiosity amongst individuals about crypto investments. It also reveals the growing popularity of crypto as an investment source.

What Is Crypto Mining

With a global search index for the questions mentioned earlier, the internet indicates the growing popularity of individuals to devise passive ways of earning through crypto. Novice people or individuals with a basic understanding tend to opt for such earning opportunities. Such searches have also increased, with off-shelf mining rigs opening up more significant crypto mining opportunities.

How to Buy Cryptocurrency

With the growing interest in the crypto market, people often search for the right time to buy cryptocurrencies. Considering crypto as a viable source of investment, such questions generated a global search volume of 36,000, indicating a growing interest in crypto investments. Needless to say, the bear markets are the best time for crypto investments.

Why Is Crypto Crashing

With a growing interest in cryptocurrency and investments, there is a growing concern over the recent bearish trend in the crypto market. The dive of cryptocurrencies to an all-time low in 2022 pushed investors to lose crores over a night. Hence, the immediate panic accompanied by a search value of 33,000 for this question is inevitable.

How Does Cryptocurrency Work

While some individuals are only interested in their investment returns from the market, some delve deeper into the operations of the crypto market. Hence, the seventh most searched question on Google reads, “How does cryptocurrency work?” indicating the individuals’ urge to know about crypto networks and their operations.

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A post-graduate is Sociology, Sreerupa’s interest primarily lies in researching on the global market trends of production and consumption.

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VOC Explained

8 Most Tricky Crypto Scams to Avoid on Twitter

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Serpent, the cybersecurity analyst, has jotted down a list of some of the most iniquitous crypto-scams and those related to non-fungible tokens on Twitter.

Crypto Scams Strategies

Serpent explained how scammers target inexperienced crypto users by using fake websites, URLs, accounts, hacked verified accounts, fake airdrops, projects, etc. Amongst the recent increase in crypto phishing scams and protocol hacks, there is the advent of other worrisome strategies for scamming people. 

Strategy #1

These evil scammers are now using Crypto Recovery Scam to trick those crypto users who have recently lost their funds to a widespread hack. 

The cybersecurity analyst explains that these scammers target those who have already been scammed and claim they can help them recover funds. They introduce themselves as blockchain developers and look for those users who have suffered a loss due to a recent large-scale hack or fraud. They ask these users for a fee to set up a smart contract which they claim would recover their stolen funds. However, they do ‘take the said fee and run.’ 

This scam strategy was widespread after the multimillion-dollar exploit that affected Solana wallets. This exploit was in the news in early August this year, and Heidi Chakos, Youtuber who hosts the channel Crypto Tips, warned the users to beware of the scammers offering ways to recover their funds. 

Strategy #2

The scammers use another strategy where they leverage recent exploits. Serpent mentioned that a fake ‘Revoke.Cash’ scam deceives users by luring them into visiting a phishing website. They use a “state of urgency” to warn users that their crypto assets may be at risk and make users click the malicious link.

Strategy #3

One of the rapidly increasing tactics is when scammers use Unicode Letters. They make the URLs look incredibly similar to a genuine one but replace any one letter with a lookalike of Unicode.

Strategy #4

There is yet another malicious strategy: the scammers hack one of the verified accounts on Twitter and then rename it to impersonate someone who holds value or influence in the crypto world. Using this account, the scammers then shill fake mints or airdrops. 

Other Crypto Scams Strategies

Several other scams target those crypto users who wish to get hold of some ‘get-rich-quick’ schemes. One such scam includes the Uniswap Front Running scam, where spam bot messages tell users to watch some video on how to “make $1400 a day front-running Uniswap”. However, it tricks users into sending their funds to the scammer’s wallet. 

The Honeypot Account is another scamming strategy that claims to ‘leak a private key’ to the users. This key is supposed to give them access to a loaded wallet. However, when the users try to send crypto to fund the transfer of coins, they send these funds directly to the scammer’s wallets. 

We also have scammers with tactics that ask high-value NFT collectors to “beta test” a new P2E game or project or commissions some fake work to NFT artists. But both send users malicious files that abrade browser cookies, passwords, and extension data.

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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Name Price
Bitcoin (BTC)
$21,567.00
Ethereum (ETH)
$1,217.27
Tether (USDT)
$1.00
USD Coin (USDC)
$1.00
BNB (BNB)
$242.12
Binance USD (BUSD)
$1.00
XRP (XRP)
$0.342965
Cardano (ADA)
$0.475877
Solana (SOL)
$38.49
Dogecoin (DOGE)
$0.069552

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