smart contract Archives - Top Crypto Game

Too Late To Buy QTUM? What’s Fueling The Moonshot?

Altcoin Buzz — Wed, 28 Aug 2024 00:46:11 +0000

With QTUM’s recent moonshot, some are wondering if it is already too late to buy QTUM. While that may not be an easy answer, since buying at all-time highs are generally not advisable, maybe this one has some long-term potential.

QTUM is a business-first development platform that is based on the Bitcoin Core technology and integrates the Smart Contract functions of Ethereum. On top of all that (as if that was not already enough) QTUM is also Lightning ready and compatible with SegWit and x86 microprocessors, and it is also built for Proof of Stake mining.

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GALA Token Hack – 5 Billion Tokens Minted

admin — Fri, 24 May 2024 01:52:40 +0000

A recent hack on the GALA token that minted billions of extra tokens has caused a stir in the Gala community. But the Gala team responded quickly, drafting a proposal to upgrade their token contract and balance out the token supply. This proposal has already passed, and we should see the new token contract within the next couple of days.

I don’t think this was quite what Gala Games had in mind when they talk about May Mayhem! Earlier this week, someone with admin access to the GALA token contract managed to mint 5 billion fresh, new GALA tokens. They then sold a significant portion of those tokens before they were caught and their wallet shut down!

At the moment, it’s not entirely clear if this was an internal hack, or a vulnerabilitiy in the contract or company process.

This hack resulted in the minting of 5 billion (yes, billion) GALA tokens, of which approximately 600 million were sold netting a cool $20+ million for the hacker! But while 20 million sounds nice, Gala has already contacted the FBI, the DOJ, and other such authorities. So the hacker may not have long to enjoy their ill-gotten gains!

You can read the official announcement from Gala Games about the incident here.

Update: Apparently the ETH from the sold tokens was recovered and is now converted back into GALA tokens.

No Worries! All is Well!

As a fix for this issue, the Gala Games team proposed to upgrade their existing GALA token contract. This upgrade will not only make the contract more secure, but it will also include a burn of about 5 billion tokens (the same exact amount minted by the hacker), by sending them to a burn address.

The proposal was only open for 24 hours. It has already passed a vote among those who own Gala Games Founder Nodes. Implementation should occur within the next few days.

And though the hack was discovered quickly, the bleeding stopped, and a proposed solution already well on its way to being implemented, this incident does highlight some of the issues with what is still a very new and ever-changing landscape of blockchain technology. Not only are smart contract audits an important part of the space, but developers also need to make sure and provide adequate security against malicious actors with access to sensitive functions (such as minting new tokens!).

And this is not the first time Gala has run into issues with their token. They already had to create an entirely new token (Gala v2), due to internal disputes among the team. And though the value of the GALA token has already rebounded from this incident, a new bloody nose for Gala Games is not going to help the growth and adoption of their blockchain ecosystem.

But, they did respond quickly, and as far as the average user knows, nothing has really changed.

What is Gala Games?

Gala Games is a produce, developer, and blockchain ecosystem for web3 gaming. This includes in-house games, as well as partnerships with other developers. Their games include Spider Tanks, Mirandus, Superior, Town Star, and many others. They also purchased Ember Entertainment, a mobile gaming company, and have begun integrating NFTs into their existing portfolio of mobile games.

But Gala includes more than just games. They have launched projects for distributing Music and Film as NFTs! Gala Games also built their own blockchain. This chain is called GalaChain (formerly GYRI), and will be the future home for all Gala-related apps and games.

Gala is a strong proponent of distributed ecosystems. And so, to support that concept, they offer user-run server nodes for both their blockchain and for many of their game as well. And, of course, they have their own token GALA, which is available on both the Ethereum network and on GalaChian.

To learn more about Gala Games, follow them on Twitter, join their Discord, and visit their website.

Rzr, a sci-fi series available to watch through Gala Films

The post GALA Token Hack – 5 Billion Tokens Minted appeared first on Top Crypto Game.

Polkadot funds $600k project to introduce smart contracts, boosting blockchain capabilities

admin — Tue, 14 May 2024 22:23:14 +0000

The Polkadot Governance Community has approved approximately $600,000 for Pop Network’s R0GUE team to develop smart contracts that integrates the blockchain network’s native DOT token.

Smart contracts are digital agreements stored on a blockchain that execute automatically when predefined conditions are fulfilled.

These contracts are widely used on networks like Ethereum, but they are not natively supported on Polkadot’s Relay chain.

So, Polkadot smart contract-enabled parachains operate with their own native tokens, which hinders the seamless integration with DOT.

Pop Network

Pop Network addresses this major pain point that has hampered DOT’s growth by leveraging ink!, Polkadot’s smart contract language. This provides clear and stable interfaces (APIs) to smart contracts and utilizes the DOT token exclusively.

These APIs enable smart contract developers to easily harness Polkadot’s capabilities to create innovative solutions, such as cross-chain applications, without the complexity attached to the blockchain.

Peter White, R0GUE’s founder, said:

“Pop Network’s solution effortlessly harnesses Polkadot’s capabilities, all using the DOT token. Our developer-friendly interface empowers ink! smart contracts with quick access to Polkadot’s power, requiring just a couple lines of code.”

The network is live on the Paseo testnet and was recently presented at the Sub0 blockchain event.

Notably, this development coincides with Polkadot’s ongoing technological advancements for its Polkadot 2.0 vision, including Asynchronous Backing, Elastic Scaling, and Agile Coretime.

‘$25 trillion by 2030’

Smart contract-enabled platforms have been projected to grow astronomically by 2030.

Jamie Coutt, the chief crypto analyst at Real Vision, predicted that the combined market value of smart contract platforms, fueled by AI agent proliferation, will hit between $15 trillion and $25 trillion by 2030.

Coutt, citing a Real Vision November 2023 report, pointed out that AI could indirectly boost demand for verification and authentication services on-chain.

According to him:

“The prospect of AI agents, either human-directed or autonomous, using blockchain via smart contract wallets for value exchange would significantly alter growth projections.”

Based on this, he concluded that AI agents could make up over 40% of total daily active users on-chain, creating astronomical valuations for the blockchain assets that would benefit from the transaction fees generated by the increasing use of AI.

Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.

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Posted In: Polkadot, Technology

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BEST ALTCOINS Post Cardano Smart Contracts! PART 2

Altcoin Buzz — Mon, 05 Dec 2022 10:31:08 +0000

Cardano smart contracts are coming! We picked Part 2 of the BEST ALTCOINS on Cardano ecosystem that will EXPLODE now that smart contracts have rolled out on 12 Sep 2021! We reveal our second batch of 5 undervalued best altcoins: ADAX, THEOS, Cardax, CNFT, and Indigo Finance and why you need to keep an eye on these Cardano projects.

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TIMESTAMPS
0:00 Intro To Cardano ADA Smart Contracts
2:14 ADAX
5:05 THEOS
6:51 Cardax
8:31 CNFT
10:06 Indigo Finance

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Cardano Projects Part 1
BEST ALTCOINS Post Cardano Smart Contracts! PART 1

BEST ALTCOINS Post Cardano Smart Contracts! PART 1

Altcoin Buzz — Thu, 10 Nov 2022 16:44:53 +0000

Cardano smart contracts are coming! We picked Part 1 of the BEST ALTCOINS on Cardano ecosystem that will EXPLODE when smart contracts roll out on 12 Sep 2021! We reveal our top 5 undervalued best altcoins: ErgoDEX, OccamFi launchpad, Cardstarter Launchpad, SingularityNET, SundaeSwap and why you need to keep an eye on these Cardano projects right now.

TIMESTAMPS
0:00 Introduction to Cardano Smart Contracts and Alonzo Rollout
1:45 Massive Growth of Cardano Ecosytem and Cardano Projects
2:11 ErgoDEX (ERGO)
4:06 OccamFi (OCC and OCX)
7:06 CardStarter (CARD)
8:57 SingularityNET (AGIX)
10:16 SundaeSwap (SUNDAE)

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164% APY?!? 😲 – Passive Income With Essentia Masternode

Altcoin Buzz — Thu, 21 Jul 2022 14:33:36 +0000

Essentia is a low cap coin that works with multiple blockchains and can help generate passive income with its masternodes that have generated a reported 164% APY.

#Essentia #ESS #Masternode #passiveincome #smartcontract #blockchain #bitcoin #btc #ethereum #eth #altcoin #altcoins #altcoinbuzz #investing #cryptocurrency #crypto #invest #binance #news #success #finance #entrepreneur #business #market #altcoinbuzz #staking #borrowing #lending #farming #mercury #yield #ESSX

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Timestamps:
00:00 Introduction
02:15 Essentia Nodes and Wallet
06:30 Get ESS on Uniswap
08:39 Deploy Masternode
12:35 Tokenomics
16:28 Staking ESS

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Cardano VS Polkadot: Who Can Defeat Ethereum? 👑

Altcoin Buzz — Tue, 24 May 2022 02:31:58 +0000

Ethereum ETH is the undisputed king of defi, but high transaction fees and a congested network have left room for many so-called ETH killers to challenge its rule. Cardano ADA and Polkadot DOT are two such contenders with tremendous promise. We look at each and consider their wallets, their scalability, governance, team, POS systems, Consensus mechanisms, recent announcements, partnerships, programming languages and tokens to determine which project has the best chance of overthrowing Ethereum.

TIMESTAMPS
0:00 Introduction to Ethereum ETH Killers
2:02 Cardano and Polkadot DOT
3:56 Wallet Comparison
5:02 Scalability
5:52 Governance
6:37 Leadership Team
7:34 Validation of PoS
8:18 Consensus Mechanism
9:27 Recent Developments
11:06 Partnerships
13:30 Programming Language
14:14 Token Analysis

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The Life and Death of a Certain K. Zabriskie, Patriarch by Chris Zabriskie is licensed under a Creative Commons Attribution 4.0 license.
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#Cardano #Polkadot #ethereum

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smart contract Archives - Top Crypto Game

Too Late To Buy QTUM? What’s Fueling The Moonshot?

GALA Token Hack – 5 Billion Tokens Minted

No Worries! All is Well!

What is Gala Games?

Polkadot funds $600k project to introduce smart contracts, boosting blockchain capabilities

Pop Network

‘$25 trillion by 2030’

Mentioned in this article

Latest Alpha Market Report

BEST ALTCOINS Post Cardano Smart Contracts! PART 2

BEST ALTCOINS Post Cardano Smart Contracts! PART 1

164% APY?!? 😲 – Passive Income With Essentia Masternode

Cardano VS Polkadot: Who Can Defeat Ethereum? 👑