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4 biggest smart contract hacks in 2022

4 biggest smart contract hacks in 2022

Let’s discuss the four biggest smart contract hacks in 2022 and see the smartosc solution! Wormhole  The wormhole is a bridge protocol built to connect multiple blockchain chains, including Ethereum, Solana, Binance Smart Chain, Polygon, Avalanche, and Oasis, without using a centralized exchange (CEX)… On February 3, 2022, the Solana-based Wormhole cross-chain protocol was hacked. […]

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Basic difference between BNB chain vs BSC

Basic difference between BNB chain vs BSC

Binance Chain and Binance Smart Chain are two different blockchains. This article will discuss Binance Chain, Binance Smart Chain, their consensus protocols, and their features. Finally, we will also see the difference between Binance Chain and Binance Smart Chain. Let’s talk about the Basic difference between the BNB chain vs. BSC Binance Chain What is […]

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What you don't know about inter-blockchain communication protocol

What you don’t know about inter-blockchain communication protocol

Inter blockchain Communication is one of the important terms when referring to the Cosmos ecosystem. So what is Inter Blockchain Communication (IBC)? And its importance in the Cosmos ecosystem will be introduced in the following article. What is Inter Blockchain Communication protocol? The Cosmos ecosystem is a network of many different independent Blockchains. These networks […]

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5 tips for productive blockchain performance testing

5 tips for productive blockchain performance testing

Since 2009, when Satoshi Nakamoto implemented blockchain technology as a core component in Bitcoin, blockchain has been a buzzword in the tech industry. The success of Bitcoin has proven the magic of this technology platform, and now people are planning to implement it in almost anything. This article discusses five tips for productive blockchain performance […]

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Why Cosmos interchain security is so important Cosmos Hub is the first blockchain of Cosmos, a project that plans a collection of interconnected blockchains. Cosmos has just introduced its shared security model called Interchain Security. https://saigontradecoin.com/wp-content/uploads/2022/02/tinh-nang-interchain-security.png 1 What is Cosmos interchain security By allowing anyone to participate in the Internet of Blockchains, cosmos interchain security is like the Bazaar model. There may be fewer guarantees of order or consistency, but this design allows for the faster and more varied formation and development. This difference in structure and ideology has fueled the explosion of Cosmos-based blockchains with diverse features and stakeholders. 2 Comos Interchain Security mechanism Interchain Security is a shared security portfolio dedicated to Cosmos, built using the Inter-Blockchain Communication Protocol (IBC). Interchain Security is introduced with many different terms such as Shared Security, Cross Chain Validation, Cross Chain Collateralization, Shared Staking, and Interchain Staking. For simplicity, pay special attention to three terms: At a very high level, Interchain Security allows the provider chain (like Cosmos Hub) to be responsible for producing blocks for the consumer chain. It does this by sharing the set of validators responsible for producing blocks. Participating validators will run two nodes, one for the Cosmos Hub and one for the consumer chain, and receive fees and rewards on both chains. https://file.publish.vn/marginatm/2022-01/cosmos-tiet-lo-ve-cac-dot-airdrop-lon-trong-nam-2022-1-1641257950007.png To qualify for the production of blocks on the consumer chain, validators will use the ATOM tokens they have placed on the Cosmos Hub. If the validator does a bad job of generating blocks on either chain, they run the risk of having their ATOM tokens burned by a mechanism known as “slashing”. In this way, the security obtained from the value of the stake locked on the provider chain is shared with the consumer chain. 3 What value does Interchain Security bring 3.1 For Cosmos Hub There are two main reasons why cosmos interchain security is valuable to Cosmos Hub. The first reason is that it enables “hub minimalism” and the second is to reduce the barrier to launching and running decentralized public blockchains with security. To learn more about these topics, please read more here. https://blockworks.co/wp-content/uploads/2022/01/cosmos-zones-4k-1.png 3.2 For the development team Cosmos interchain security has taken an interesting approach to Web3 development. Instead of building a decentralized application on top of Ethereum or one of the Layer 2 sidechains, Cosmos creates a world where you set up your application-specific blockchains, interacting with applications or services on other chains through the Inter-Blockchain Communication (IBC) protocol. In a recent episode of The New Stack Makers podcast, Marko Baricevic, a software engineer with the Interchain Foundation, likened IBC to TCP/IP's role as a communication protocol for networks. Just as TCP/IP established a common protocol used for networked computers to send and receive information, IBC established a means of sending and receiving messages between blockchains. The Cosmos ecosystem today includes more than 250 applications and services, including some that Marko Baricevic wrote recently such as Agoric's smart contracts and Web3's AWS Lamda, Aleph. As Cosmos continues to expand to new developers with additional dApps and services, that desire for integration is likely to continue to grow. Cosmos interchain security enables Cosmos to be transparent with its philosophy of sovereignty and open source (like the Bazaar model) and allows blockchains to integrate economically but not politically. It's an ambitious project but development is well underway, in my personal opinion this groundbreaking feature could appear on Cosmos Hub's test network. Contact SMARTOSC to get more information about Cosmos and Cosmos interchain security

Why Cosmos interchain security is so important

Cosmos Hub is the first blockchain of Cosmos, a project that plans a collection of interconnected blockchains. Cosmos has just introduced its shared security model called Interchain Security. 1 What is Cosmos interchain security By allowing anyone to participate in the Internet of Blockchains, cosmos interchain security is like the Bazaar model. There may be […]

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5 trendy strategies to promote your defi project

5 trendy strategies to promote your defi project

Defi has been around for a while in the crypto world. Many people join projects that provide Defi services every day, and many crypto analysts believe this trend will continue. However, as competition heats up, many people launching decentralized projects face a dilemma: how to spread the word about their project? Even if the crypto […]

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Handbook to creating NFT smart contract quickly

Handbook to creating NFT smart contract quickly

Blockchain platforms and non-fungible tokens (NFTs) are viral right now, with many first-time investors and creators amassing crypto fortunes through purchasing and selling these digital assets. However, before anyone can trade NFTs on a marketplace web application, smart contracts must be created and deployed. Before you can create smart contracts using ERC-721 token standards (the […]

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Steps by steps tutorial: how to create a smart contract

Steps by steps tutorial: how to create a smart contract

Ethereum has been present in the blockchain space since its introduction in 2015. The implementation of smart contracts has played a significant role in Ethereum’s success. Many people think that smart contracts are a novel idea that was first introduced by the Ethereum Blockchain Platform. However, smart contracts date back to 1996, when computer scientist […]

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