Eigenlayer launched on Ethereum’s mainnet with over $ 12 billion in total value locked, aiming to create a restaking ecosystem which, while promising lucrative prospects, may introduce unforeseen risks including potential centralization and the threat of slashing cascades impacting Ethereum’s security. The launch was executed with certain safeguards, such as the temporary disabling of …
Contrary to the perception that decentralized applications (dapps) are unstoppable, many are “reliant on centralized middleware components in the extreme.” James Bayly, COO at Subquery, argues that such an overreliance on centralized middleware components or their providers “completely undermines [the] supposedly decentralized applications and networks.” The Value of Centralization in Web3 However, in his written […]
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler sees irony in the approval of spot bitcoin exchange-traded funds (ETFs). “This was about centralization and traditional means of finance,” said Gensler, warning: “Investors should be aware that this underlying asset is a highly speculative, volatile asset, and amongst its use cases is really for illicit […]
Since August 11, 2023, the number of unique digital wallets storing the iris-scanning cryptocurrency worldcoin (WLD) stood around 468,466. But in the weeks since, ownership of the fledgling crypto has expanded by over 26% to 591,633 wallets. However, worldcoin’s value has moved in the opposite direction — plummeting over 35% against the U.S. dollar in […]