OffChain Labs has developed BoLD as an evolution of Arbitrum's dispute system to address the current challenges. Placing trust in humans can lead to issues, such as delay attacks, where malicious actors use funds to prevent accurate confirmations, potentially locking users' funds indefinitely. However, permissioned approaches such as those described above pose challenges since users must rely on whitelisted validators, which are not always reliable. During this period, whitelisted actors can challenge any claims they deem suspicious, which helps maintain the system's integrity. In order to prevent fraudulent activities, the process is built-in with a delay of around seven days. It is still possible to withdraw funds from Ethereum even if Arbitrum experiences a temporary transaction halt when data is transferred from Arbitrum to Ethereum through a validating bridge. Currently, Arbitrum utilizes Ethereum to verify the correctness of its network. Ĭheck out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!īOLD is a massive technical accomplishment, making Arbitrum chains more secure than ever.īut it's an equally bold statement about what we value at □ - Steven Goldfeder (□,□) August 3, 2023Īrbitrum, a layer-2 scaling solution, relies on Ethereum's security to ensure the accuracy of its state. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.ĭon’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!įor those looking for tools and strategies regarding safety and crypto education, check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News. Taking into account complaints from its users, Binance made the right decision to help in rehabilitation.īinance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The airdrop was meant to revive the Terra ecosystem. Instead, it is a form of compensation to affected stakeholders. The Luna 2.0 airdrop, unlike other airdrops, was not meant to reward any party. However, users argue that they should have been informed in advance to allow them to remove their assets before the snapshot was taken. Therefore, the decision to exclude certain users from participating in Luna 2.0’s airdrop was naturally expected. Trading Fees on LUNC Spot and Margin Trading Pairs (USDT Equivalent)Ĭhart with the burning of Terra Luna Classic (LUNC) on Binance.īinance has burned over 5.5 billion LUNC tokens, the equivalent of over $1.8 million worth of Terra Luna Classic cryptocurrency.Source: Binance came under heavy regulatory scrutiny in Malaysia and Singapore and had to take steps to comply with the local law. Trading Fees on LUNC Spot and Margin Trading Pairs (LUNC) In this first round, Binance has burned 1.2% of all trading commissions of Terra Luna Classic (LUNC) in the spot and margin markets for operations that have taken place between September 21 and October 1st, 2022.Īs the following table reflects, today has been the day that Binance announced how many LUNCs have been burned in this process: Binance Publishes Today The First Result Of The Terra Luna Classic (LUNC) Burn Campaign: More Than 5 Billion Tokens Destroyed In this way, the exchange has assumed the cost of burning 1.2% of the trading fees of LUNC in the purchase/sale operations in the markets. Although it was one of the last exchanges to accept it, Binance finally gave its go-ahead to apply the 1.2% burn tax on all operations with the Terra Luna Classic (LUNC) cryptocurrency.
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