The second series of explanatory materials about what is happening in the crypto.
In today’s newsletter we look at:
- MetaMask issues
- Pseudonymity of stablecoins
- Buterin’s proposal for a Beacon hard-fork
- Risky dApps
- RenBridge 2 Release
Why You Shouldn’t Use MetaMask For Trading
When it comes to using web3 services, MetaMask is an excellent non-custodial wallet option. However, you need to think twice before using it for your trading activities. The article exposes MetaMask’s flaws and explains why it shouldn’t be your first choice when working with exchanges. Apart from additional commission fees, blacklisting practices, closed source MetaSwap contract, there are a few other serious issues to keep in mind.
Not So Private Stablecoins
What Happens if All Stablecoin Users Have to Be Identified?
The pseudonymity of stablecoins makes them a perfect tool for carrying out illegal activities. Unless you buy them with fiat on mainstream exchanges, your identity remains private. But what if governments decide to put an end to it? What would happen to the world of decentralized finance and millions of dollars locked in DeFi’s smart contracts? Read the article to find out more about it.
The First Ethereum Beacon Chain’s Hard Fork: The Proposal
Vitalik Buterin suggested a proposal for the first-ever hard fork of the newly launched Beacon chain. The changes include adding light client support, simplifying the spec, efficiency improvements, and a less punitive inactivity leak mechanism.
Frontrunner Jones and the Raiders of the Dark Forest
All the countless dApps that run on the Ethereum network are at risk of being exploited. The pool of Ethereum transactions has been in danger too: attackers are monitoring it closely and trying to front-run the victims. Transactions can get displaced, suppressed, or randomly inserted. The paper sheds light on these activities, provides a methodology to measure 3 types of frontrunning, and showcases clear evidence that it is a seriously lucrative and prevalent issue.
RenBridge 2 Release: Beyond Ethereum
The DeFi-focused liquidity protocol Ren has announced launching a new line of assets $renBTC, $renBCH, $renZEC, and $renDOGE. This update is crucial as it kicks off the new cross-chain capabilities of RenVM on Binance Smart Chain (BSC) going beyond the Ethereum network. UI/UX got better too.
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This is a weekly newsletter curated by Mercuryo team. We cover the most sparkling events in the industry and sharing more about our journey.