With the recovery of the market (and I strongly believe that things will skyrocket soon), I hope that many news will arrive in the coming months: real-world expansions, integrations and pilot programs, and regulatory updates, in addition to the usual number of partnerships and milestones developmental.
I have decided that, with everything that is happening, I should round out what I think are the most important events of journalistic interest and summarize them so that they do not have to look here and there to see what is happening. Just keep in mind that when I put the date in the title, I don't mean that the news happened that day, it's just a summary of what happened around the date.
Anyway, it turns out that there have already been some important developments this week, including mainnet launches, Justin Sun buying something again and an ongoing investigation into IOTA hacking.
1. IOTA Mainnet has been out of service for more than 5 DAYS
Probably one of the most important news in the last two weeks is the hacking of Trinity Wallet from IOTA, which was revealed to have occurred on February 13. The news was quite shocking, since IOTA had to close the coordinator and those who had funds for the wallet were told not to access it, which would effectively render their funds useless.
The situation was expected to be resolved quickly, but the main network has been inactive for more than 5 days, which has caused a stir among investors, all of whom have high hope for a project with some unique technology.
What happened was that on February 12, IOTA received several reports that funds had been stolen. Soon after, they decided to turn off the coordinator, ask users not to access Trinity Wallet and find out what was happening.
The IOTA Foundation has been publishing updates on the development, but the community has definitely taken a negative stance on the whole issue (Reddit's post was blocked after some expressive discussions).
However, there is good news: the team has created a solution for the error, and now users can install an updated version of Trinity, migrate to safe seeds and claim stolen funds. The main network is still suspended, without information on when it will work again.
2. Someone just won 2,378 ETH for playing DeFi systems
And here is another hacking story for you: the DeFi bZx platform has experienced TWO hacks in a matter of days, losing around $ 954,000. BZx published a report detailing the first hack, which first occurred on February 14. The first saw a theft of $ 298,000, but the second, which occurred yesterday February 18, saw about $ 654,000 in stolen Ether.
The team has said that the attack really involved the use of Synthetix platform assets, specifically sUSD. This is the specific transaction that is being investigated. It is believed that the second attack involved the manipulation of oracles, and as a consequence, the bZx team is accelerating its integration with the Chainlink oracles to increase safety.
The trading and margin loan platform suffered a considerable reputation and financial blow as a result of the hack, with the DeFi DefiPulse data platform showing a 31.5% drop in the last 24 hours. The founder of Compound platform Robert Leshner said that bZx should cease operations until the matter has been resolved.
3. Siacoin launches SkyNet
Now about some more positive news: the decentralized file storage network Siacoin has announced the launch of SkyNet, which is its name for decentralized content delivery and the file storage platform which will serves the basis for a free Internet "and" permanent home for data and applications ".
SkyNet is essentially a P2P file sharing network where users can download any file that has been uploaded to the network. There are also incentive mechanisms and markets. It is also compatible with the web through Skynet Portals or web portals. This is accompanied by API for developers and an easy-to-use interface for web browsers that allow access to files.
There are some more interesting features that are worth mentioning. The files by default are not encrypted, but a user can choose to encrypt the file to protect privacy: the Siacoin Siacoin file protects the files by default because that platform is intended for personal data (think of a decentralized version of Google Drive ). Support for encryption is under development.
The team says that "developers need to write less than a dozen lines of code to integrate their applications with Skynet," which would be a big boost for adoption. Decentralized file sharing networks are a great niche in the market and Siacoin has taken a great step forward to forge a place in the market.
4. The Enjin platform is activated on Ethereum Mainnet
Enjin is a fairly large name in the market and has been one of the best performing assets in the last year or so, no doubt due to the fact that it has some important partnerships, including Microsoft and Samsung. The latter, especially because it turned the ENJ token into one of the native tokens available in the cryptocurrency wallet of the Galaxy smartphone.
Apart from that, there is some even more important news for Enjin: the team released the mainnet version in Ethereum two days ago, on February 17. This means that developers can easily build and integrate solutions in their games and applications.
Enjin's CEO Maxim Blagov said the platform can be integrated into new and existing games.
The gaming industry is ready for the blockchain application, as it already has markets and in-game currencies that reward player behavior. Have a cryptocurrency and a blockchain ledger to incentivize good behavior, support in-game auctions and track non-collectible (collectible) tokens.
As expected, the ENJ token has skyrocketed in value, increasing by 10% in the last 24 hours.
Once this important milestone is completed, the team will now launch the SDK for its Godot game engine, which will be launched in the second quarter of 2020.
5. Steemit becomes part of the TRON ecosystem
What would be a weekly summary of news in the crypto market without some TRON and Justin Sun included? The two are often in the headline sometime for good reasons, sometimes for not so good reasons.
This time it is because TRON and Steemit have joined forces in a strategic partnership that will make Steemit become part of the TRON ecosystem. The content / social media platform was co-founded by Dan Larimer, the same mind behind the Ethereum EOS competitor. The new STEEM token will be based on the TRON network standards.
Justin Sun comment “We are very excited to welcome Steemit to the TRON ecosystem. Together we will begin a new era of decentralized social networks. ”
If you are in Publish0x, then you probably already know Steemit. Publish0x is the second largest content / social media platform behind Steemit, so you may understand the importance of a platform where people with different interests come together to share thoughts and ideas and get rewards.
Sun and TRON have been making a great effort to bring more DApps to the TRON network, which still has some options to compete with Ethereum. The development of DApp in general has grown over the past year.
The reactions of the Steem and TRON community contrast sharply: Steemit users do not seem very happy with the association, since the token was reduced by 12%.