Decentralized finance, better known as DeFi, may not be “decentralized” enough as attackers exploited centralized weak points to drain users of billions of dollars in 2021, according to research from blockchain security firm CertiK. In a new report on the state of DeFi security in 2021, CertiK researchers said “centralization issues were the most common attack vector” within … [Read more...] about ‘Centralization issues’ are the biggest culprits of DeFi attacks: CertiK
Centralization
Edward Snowden, Gavin Wood, David Chaum, and Raullen Chai warn of the risks of centralization
After 9/11, “the US government for the first time was able to take control of an infrastructure that had already begun to work its way into every home, every workplace and now, every pocket,” said Snowden, referring to smartphones.Snowden said this new form of authoritarianism and form of oppression began taking place because of 9/11 and thanks to technology.“Covid-19 has … [Read more...] about Edward Snowden, Gavin Wood, David Chaum, and Raullen Chai warn of the risks of centralization
A decentralized app store might lead crypto toward more centralization
The estimated windfall Apple got from its App Store in 2020 is $67 billion. That’s up from $50 billion in 2019, a 28% increase. Even as the company has lowered its commissions for smaller developers, the App Store remains a major component of Apple’s bottom-line profits. And it’s not just Apple taking a cut of developer revenue: On Android, the world’s most popular mobile … [Read more...] about A decentralized app store might lead crypto toward more centralization
Mass adoption may take crypto toward centralization
This is the year cryptocurrency finally starts to break into the mainstream. From Elon Musk and Tesla investing in and accepting Bitcoin (BTC) to the recent nonfungible token craze, the days of blockchain tech being the domain of cypherpunks and coders are behind us.Still, the technology has not quite advanced to the stage where the average person will feel comfortable using … [Read more...] about Mass adoption may take crypto toward centralization
South Korea faces strict crypto regulation and fears of centralization
From real-name account trading to investigating individuals using cryptocurrencies to evade taxes, government officials in South Korea are enacting stricter regulations to oversee the cryptocurrency industry in the country. These measures often require digital currency businesses to provide detailed customer data and transaction information to the relevant authorities.With … [Read more...] about South Korea faces strict crypto regulation and fears of centralization