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@tsakf in June 2024

t@tsakf

At the time, most of the protocols were launching solely on the Ethereum blockchain; however, with transaction fees skyrocketing, alternative Layer 1 blockchains such as Solana and Layer 2 networks like Optimism gained popularity as DApp-building ecosystems. DeFi applications were limited to a single blockchain network, making it hard for users to transfer assets. https://thenewscrypto.com/why-multichain-compatibility-could-deliver-the-true-promise-of-web3-interoperability/

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The United Kingdom’s Financial Conduct Authority (FCA) has officially approved the first set of crypto exchange-traded products (ETPs), marking a significant development in integrating digital assets into the country’s financial landscape. This move positions the UK to align with global financial centers that have embraced this set of digital asset trading. https://bitcoinist.com/uk-makes-major-move-crypto-exchange-traded-products/

t@tsakf

Social trading is a relatively new concept that is gaining popularity. Thanks to its transparency, comprehensibility of the system, and opportunities for improving the trading experience, copy trading has become a distinct form of trading. Its main advantage is that it has opened the doors to the market for every investor who previously did not know how to trade. https://coincodecap.com/what-is-an-example-of-social-trading

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In blockchain technology, hashes are data structures that act as digital fingerprints on the block where certain data is added. The hash can be used to verify whether a piece of information was changed or tampered with after being stored. A blockchain hash is generated automatically, providing a fixed-length output for any given input value. https://coindoo.com/blockchain-hashing/

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EIP-7702 is set to make account abstraction come to life on Ethereum at scale with its lean and simple implementation. Account abstraction allows the creation of smart contract accounts to initiate and execute transactions without needing an externally owned account (EOA). This makes web3 so seamless that everyday users might not even notice they're using it. https://blog.quicknode.com/eip-7702-explained-the-future-of-ethereum/

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With the rise of popularity and value of cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin has grown, users have become more vulnerable to fraud. To begin with, assets and transactions are provided and controlled by users. They might fall prey to fraudsters and become victims of scams if there is no authority to oversee the operation of bitcoin channels. https://coincodecap.com/how-to-avoid-scams-in-the-crypto-industry

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The Dubai Financial Services Authority (DFSA) is taking steps to refine its regulatory framework for cryptocurrency tokens within the Dubai International Financial Centre (DIFC), a key economic zone in the United Arab Emirates (UAE). The DFSA’s amendments now allow external and domestic funds greater latitude in investing in recognized crypto tokens. https://cryptomufasa.com/dubai-introduces-new-guidelines-for-crypto-token/

t@tsakf

The DeFi sector is growing at a staggering pace, and while it shares some similarities with CeFi, the differences are glaring too. Transparency is a significant benefit DeFi offers investors – a key factor that decides the fate of their investments. https://coincodecap.com/defi-is-more-efficient-than-cefi

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Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs) are some of the most exciting DeFi developments you should know about. LSTs, like stETH from Lido, allow you to stake your Ethereum and earn staking rewards while retaining liquidity. This means you can use your staked assets in various DeFi activities, such as lending, trading, etc. https://coincentral.com/liquid-restaking-tokens-liquid-staking-tokens