xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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MetaMask just announced its update on 07/27/22. This update is critical because it will prevent "Wallet Drainer".
https://twitter.com/wallet_guard/status/1552329047836966915
Wallet Drainer is a way to attack the wallet that, through the smart contract and links NFT project with other wallets without admitting approval from the individual signature required to each wallet.
https://twitter.com/TheOnlyNom/status/1552521385796423680
How the Wallet Drainer works are following:
fake NFT page with an artificial countdown to create urgency
victim connects wallet
the program will check valuable of NFTs
victim active the signature to transaction(s) to transfer ownership of NFTs
program fake the "mint" and transaction will not interact with the smart contract
the process repetitive
Here is how technically the program works and comprehensively addresses the potential impact of this attack.
MetaMask just announced its update on 07/27/22. This update is critical because it will prevent "Wallet Drainer".
https://twitter.com/wallet_guard/status/1552329047836966915
Wallet Drainer is a way to attack the wallet that, through the smart contract and links NFT project with other wallets without admitting approval from the individual signature required to each wallet.
https://twitter.com/TheOnlyNom/status/1552521385796423680
How the Wallet Drainer works are following:
fake NFT page with an artificial countdown to create urgency
victim connects wallet
the program will check valuable of NFTs
victim active the signature to transaction(s) to transfer ownership of NFTs
program fake the "mint" and transaction will not interact with the smart contract
the process repetitive
Here is how technically the program works and comprehensively addresses the potential impact of this attack.
With an extra step to allow the wallet to get permission for all transactions, the user has a way to stop a bundle of transactions at once without permission allow from the user side.
You may think that is no a big deal but it saves a lot of NFTs project to prevent attacking users valuable assets.
Never click on links from unidentified sources.
Never click Google Ads for crypto services, instead go to the official website yourself.
Always use Two-Factor Authentication (2FA) when possible. Google Authenticator is free to use, so use it.
Also, double-check the website before connecting your wallet to the suspective website.
If you enjoy reading my articles, buy me a coffee here.
Photo by Georgi Dyulgerov on Unsplash
With an extra step to allow the wallet to get permission for all transactions, the user has a way to stop a bundle of transactions at once without permission allow from the user side.
You may think that is no a big deal but it saves a lot of NFTs project to prevent attacking users valuable assets.
Never click on links from unidentified sources.
Never click Google Ads for crypto services, instead go to the official website yourself.
Always use Two-Factor Authentication (2FA) when possible. Google Authenticator is free to use, so use it.
Also, double-check the website before connecting your wallet to the suspective website.
If you enjoy reading my articles, buy me a coffee here.
Photo by Georgi Dyulgerov on Unsplash
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