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Voyager had reportedly lent 3AC US$350 million in USDC and 15,250 Bitcoin, Binance all up totalling more than US$673 million. • Crypto brokerage Voyager Digital is no longer playing softball regarding its hefty loan to the VC hedge fund Three Arrows Capital (3AC). It’s now issued 3AC with a default notice in an attempt to recover its funds.
To transfer a token to someone one needs to provide the full history of the token across all the blocks that were produced on the plasma chain since the token was moved to the chain until the transaction. In the example above if Bob wants to transfer the token to Carol, then a transaction (depicted at the bottom) would include one entry per block, with a merkle proof of change of ownership or lack thereof in each block.
The world’s largest digital coin slipped to trade around $35,541 as of 5:30 am in New Delhi, down 4.12% in the past 24 hours. Bitcoin’s average swing on Saturdays and Sundays this year comes in at 5.35%.
The core idea behind a simple side chain is to have a completely separate blockchain, with its own validators and operators, that has bridges to transfer assets to and from the main chain, and optionally snapshots the block headers to the main chain to prevent forks.
It cannot withhold the data, since the transaction that snapshots a block must have the full block or the full state passed as an argument, crypto and validates that the content is correct, and then such content is persisted in the mainnet calldata. It cannot produce a block with an invalid state transition, since it must submit a zk-SNARK that attests to the correctness of the state transition, cryptocurrency and such a zk-SNARK cannot be obtained for an invalid block; It cannot create a fork since the fork choice rule always prefers the chain that contains the last snapshotted block, even if a longer chain exists.
While Weibo has cracked down on various crytocurrency-related accounts in the past years, the news came on top of recent harsh Chinese regulatory rhetoric that have already led to a plunge in prices for many digital coins.
Pourquoi réduire son chauffage, alors qu’on pourrait simplement se passer de la cryptomonnaie? Grosse consommatrice d’énergie, la cryptomonnaie avait déjà été épinglée à coups de comparaisons peu flatteuses avec des pays et des industries. Alors que le mot d’ordre est aux économies d’énergie, les regards se tournent inévitablement vers le bitcoin
. Dans un contexte de pénurie d’énergie, certains appellent déjà à l’interdiction de l’utilisation et du minage de bitcoin, le procédé par lequel la monnaie est créée.
L’industrie se défend. Déjà critiqué pour sa consommation importante d’électricité, le bitcoin risque d’être encore davantage pointé du doigt dans une période d’économie d’énergie, même si le minage est pratiquement inexistant en Suisse et en Europe.
Less than two weeks ago, BTC
’s market capitalization hit an all-time high; on November 19, it reached a unit price of about $18,400 that, with more than one million new Bitcoins in circulation, surpassed the network’s overall value seen during its 2017 euphoric rise.
Overall, the biggest advantage of Plasma is the security of the tokens that are stored on the plasma chain. An honest participant can be certain that they will be able to withdraw their tokens no matter what of the following events occur: plasma operator creates an invalid state transition (before or after the honest participant received their tokens), plasma operator withholds the produced blocks, plasma operator completely stops producing blocks. In all these scenarios, or in general under any circumstances, the tokens cannot be lost.
These properties combined make the Roll Up chains one of the most exciting L2 solutions today. Importantly, assuming the Roll Up operators cooperate, the exit is instantaneous, and doesn’t involve an exit game.
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However, despite the fact that the side chain can leverage the security of the main chain to prevent forks, the validators can still collude and perform a different kind of attack called Invalid State Transition . The idea behind the attack is that the main chain cannot possibly validate all the blocks that the side chain produces (it would invalidate the purpose of the side chain, that is to offload the main chain from validating each transaction), and thus if more than 50% or 66% (depending on the construction) of the validators collude, they can create a completely invalid block that steals money from other participants, snapshot such a block, initiate an exit for the stolen funds and complete it.