Blockchain Gaming

Rising Crypto Scams in 2024

Friday. December 27 at 11:00 PM

1 min. read

In 2024, pig butchering scams targeting crypto users reached a peak, costing them $3.6 billion on the Ethereum blockchain, as reported by Cyvers. The report highlighted a 40% surge in cyber fraud compared to the previous year, with 165 incidents resulting in a total loss of $2.3 billion. The scammers exploited vulnerabilities in the Ethereum blockchain, leading to 150,000 addresses and 800,000 fraud cases. Access control breaches and smart contract vulnerabilities were the main loopholes exploited by fraudsters, resulting in significant losses. Despite the security breaches, recovery efforts managed to return $1.3 billion to victims. Notable exchanges like DMM and WazirX fell victim to these scams, with losses amounting to millions. The fourth quarter of 2024 saw the highest losses, totaling $760 million across 53 reported cases.

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Revolutionizing Hamster Kombat with a New Layer-2 Network

Saturday. December 28 at 3:00 AM

Hamster Kombat, a popular tap-to-earn game on Telegram, is set to launch a layer-2 network on The Open Network (TON). The community-backed initiative aims to enhance the utility of the Hamster Kombat token (HMSTR) by creating a dedicated blockchain called Hamster Network. This new blockchain will serve as the foundation for the Hamsterverse ecosystem, with development already in progress. The team plans to unveil a detailed roadmap and implementation strategy to strengthen Hamster Kombat's position in the decentralized gaming industry. Despite a decline in interest in tap-to-earn games on Telegram, Hamster Kombat remains a standout success in 2024. Following a drop in users and token value due to a failed airdrop, the platform is gearing up for a revamped gameplay experience in its second season. With the launch of the L2 network, Hamster Kombat aims to reignite interest and engagement among users.

Blockchain Gaming

Altcoins CLANKER, PARSIQ, and STEPN Experience Significant Market Activity

Saturday. December 28 at 12:00 AM

In the last 24 hours, three altcoins, namely CLANKER, PARSIQ (PRQ), and STEPN (GMT), have demonstrated notable market movements. CLANKER surged by 60%, achieving a $60 million market cap and garnering attention within the Base ecosystem. PARSIQ experienced a nearly 40% increase, showing potential to surpass crucial resistance levels. Meanwhile, STEPN, a fitness app that incentivizes physical activity with crypto rewards, saw a 25% rise, elevating its market cap to $442 million. CLANKER, designed to introduce coins on the Base blockchain with an AI-focused approach, has attracted a daily trader base of 5,000 to 10,000 individuals. On the other hand, PARSIQ, a platform offering real-time blockchain monitoring and automation, has emerged as one of the top-performing altcoins of the day with a 40% surge. Lastly, STEPN, a Social-Fi and Game-Fi app on Solana, witnessed a 25% value increase. Each coin faces critical price levels that could dictate their short-term price direction.

Blockchain Gaming

Rising Crypto Scams in 2024

Friday. December 27 at 11:00 PM

Blockchain Gaming

Understanding Blockchain Forks

Friday. December 27 at 10:00 PM

Blockchain forking divides a blockchain into two, either accidentally or through intentional rule changes. Forks can be temporary or simultaneous, introducing new technical rules. Smart contracts fall into two categories: soft forks, where all parties agree on rule changes, and hard forks, arising from disagreements. Soft forks are like system patches, while hard forks create separate chains with different rules. Forks can lead to orphan blocks when miners create valid blocks simultaneously, and uncle blocks in Ethereum. Soft forks maintain backward compatibility, unlike hard forks. The blockchain community decides on upgrades through Bitcoin Improvement Proposals. Soft forks like Segregated Witness and Taproot enhance scalability and privacy. Hard forks, like Bitcoin Cash and Bitcoin SV, create new coins. Hard forks can distort tokenomics and ecosystem fragmentation. Despite challenges, dominant chains like Bitcoin remain relevant. Forks can resolve ethical dilemmas, like the DAO Hack in Ethereum, leading to the creation of Ethereum and Ethereum Classic blockchains.

Blockchain Gaming