BTC $62,990.26 -0.09%
ETH $1,878.54 -0.08%
BNB $604.88 -0.99%
XRP $1.00 -0.32%
SOL $75.37 +0.05%
TRX $0.3310 -0.42%
DOGE $0.0697 -0.46%
ADA $0.1768 -1.37%
BCH $203.41 -1.19%
LINK $9.34 -0.55%
HYPE $57.10 +1.49%
AAVE $85.87 -1.30%
SUI $0.6754 -1.10%
XLM $0.1568 -1.11%
ZEC $486.40 -0.87%
BTC $62,990.26 -0.09%
ETH $1,878.54 -0.08%
BNB $604.88 -0.99%
XRP $1.00 -0.32%
SOL $75.37 +0.05%
TRX $0.3310 -0.42%
DOGE $0.0697 -0.46%
ADA $0.1768 -1.37%
BCH $203.41 -1.19%
LINK $9.34 -0.55%
HYPE $57.10 +1.49%
AAVE $85.87 -1.30%
SUI $0.6754 -1.10%
XLM $0.1568 -1.11%
ZEC $486.40 -0.87%

ren

Ren is a decentralized protocol designed to achieve interoperability between different blockchains. Its core product, RenVM, is a virtual machine that allows users to transfer crypto assets across chains in a trustless environment. Ren's main features include supporting cross-chain transactions for mainstream cryptocurrencies like Bitcoin and Ethereum, addressing the isolation issues of traditional blockchains, and promoting the interconnectedness of the decentralized finance (DeFi) ecosystem. The Ren token (REN) is used to pay network fees and as collateral for nodes.
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Gray Research Director: Ethereum is like a "small country," and the issuance of ETH determines the balance between network security and currency

Zach Pandl, the head of research at Grayscale, posted on the X platform comparing Ethereum to a "small country" and discussed the ETH issuance mechanism. He believes that Ethereum has only one core "government function": to protect property rights and value exchange within the system. Unlike traditional countries that provide public services through taxation, Ethereum primarily funds network security through "seigniorage," which is the issuance of new ETH.In this framework, the stakers responsible for maintaining network security are akin to a group providing public services, as they receive rewards through newly issued ETH. Therefore, Ethereum's staking mechanism and ETH issuance policy essentially constitute the network's fiscal and monetary policy. Zach Pandl pointed out that the Ethereum community needs to decide how much "new currency" should be used to cover network security costs. More security typically means stronger protection of property rights, but at the cost of a higher ETH issuance rate and potential other risks.For example, if network security increasingly relies on a few large staking service providers, there remains room for discussion about whether these providers can maintain the asset rights of all users completely neutrally. Pandl believes that, just as in traditional economies, no one knows the "optimal level" of government spending and currency issuance; the same applies to Ethereum. However, Ethereum has several key security thresholds, including: 1/3: an attacker reaching this ratio may affect finality; 1/2: affects blockchain fork choice; 2/3: can control the finality process. Some community members believe that the design of Ethereum's monetary and fiscal policy should consider the security trade-offs brought by these key ratios, while the current mechanism has not adequately incorporated these factors. However, the above analogy is not entirely accurate, as it does not yet involve other important factors such as the ETH burn mechanism, MEV, governance, etc.

The leak of French tax data affects nearly 678,000 people, which may exacerbate the risk of violent attacks against cryptocurrency holders

The French Minister of Finance confirmed that hackers breached the French Public Finance Directorate system at the end of June and stole personal and corporate taxpayer data. According to the platform FrenchBreaches, which tracks cyberattacks in France, this incident affected approximately 678,437 people, equivalent to about 1% of the French population, but the exact number is still under investigation and has not been finally confirmed.The leaked data reportedly includes sensitive information such as names, birth dates, home addresses, phone numbers, email addresses, tax identification information, and income data. Among them, nearly 27,000 individuals had tax incomes of at least 100,000 euros, 386 exceeded 1 million euros, and another 8 exceeded 10 million euros. Reports indicate that the database has been sold on the dark web market for thousands of euros. The attackers, calling themselves ZeroBytes, claimed they extracted the relevant records using an internal search tool, which was only discovered later when access was cut off.This incident has raised concerns in the cryptocurrency industry, as there has been a noticeable increase in "wrench attack" violent robbery incidents targeting cryptocurrency holders in France in recent years. If high-income individuals' addresses and contact information are leaked, it could provide criminals with a more precise target list.
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