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Decentralized Finance: A Catalyst for Global Financial Inclusion! In the modern financial landscape, traditional banking systems have often excluded millions of people worldwide due to geographic, economic, and regulatory barriers. However, decentralized finance (DeFi) is emerging as a game-changer, offering financial services that are open, permissionless, and accessible to anyone with an internet connection. Breaking Barriers with DeFi Unlike conventional financial institutions that require extensive documentation, credit history, and physical branch visits, DeFi operates on blockchain technology, allowing users to access banking services from anywhere in the world. Through decentralized lending, borrowing, staking, and yield farming, individuals can earn a passive income and grow their wealth without relying on intermediaries. Empowering the Unbanked According to the World Bank, over 1.7 billion adults remain unbanked. DeFi solutions such as smart contracts and decentralized exchan...

Building a decentralized exchange on Bitcoin would be a “step backward,” for example, said Bitcoin developer Super Testnet. One of the developers working on “BitVM” — a Bitcoin-based virtual machine — reiterates the tech is intended to scale Bitcoin rather than launching Ethereum-like decentralized finance applications on the network. BitVM’s whitepaper was released by ZeroSync’s project lead Robin Linus on Oct. 10 with technical support provided by pseudonymous developer “Super Testnet” — implementing BitVM’s first proof-of-concept and working on expanding BitVM’s capabilities. Upon its release, some industry pundits formed the impression that BitVM would bring DeFi to Bitcoin like what the Ethereum Virtual Machine (EVM) did for Ethereum. Lightning also fall short in the scaling department. It's nowhere near solving scalability. We need more complementary things. > this is just another defi on bitcoin attempt. Again, the motivation behind BitVM by the author was not DeFi. It ...

The controversial crypto project’s new sign-ups have dwindled and numbers pale in comparison to the 2 million sign-ups before the launch of the project. The controversial crypto project Worldcoin was launched for the public on July 24, making way for customers to scan their iris at designated locations in 20 countries and receive 25 Worlcoins (WLD) the native token of the project.  The project debuted on the back of 2 million pre-signups but the interest seems to have faded after the actual launch. On that first day, users seemed keen, with Hong Kong seeing the highest number of signups.  The city offered three designated spots called Orbs, where users ; irises are scanned and they're offered a “world ID.” According to a report published by South China Morning Post, the three designated locations in Hong Kong each saw about 200 signups on the first day, making it the highest number of signups across the 20 countries included in the launch. Heatherm Huang, one of the Orb operato...

Diyahir Campos, a smart contract developer behind the new ERC proposal, sought to take action after becoming a victim of the Euler Finance hack in March. A decentralized finance “circuit breaker” could have prevented billions of dollars worth of crypto being stolen from DeFi protocols in 2022, according to the developer of the newly published ERC-7265 proposal. A new Ethereum request for comment (ERC) was published on Github on July 3. In it, the lead developer Diyahir Campos proposed a standard for a DeFi “circuit breaker.” It essentially aims to set a standard for a smart contract with the ability to halt suspiciously large token outflows from a DeFi protocol. 1/ Announcing ERC 7265: Circuit Breaker We are fixing the biggest problem with DeFi Security - lack of response time to mitigate hacks. Built by @Diyahir @tcb_00 @real_philogyhttps://t.co/4KQDYEK2H7 — Meir Bank (@MeirBank) July 3, 2023 Last year was the single biggest year for crypto hacks, with at least $3.1 billion st...