NFT News by Thebittimes.Com

A new suite of tools for Web3 businesses targets the safety and security of transactions, websites and smart contacts to combat exploits. A big concern for users in decentralized finance (DeFi) is its susceptibility to exploits. A report from Privacy Affairs revealed hackers stole $4.3 billion worth of cryptocurrency from January to November 2022 — a 37% increase from the previous year. Such exploits harm the integrity of companies and fuel skeptics from outside of the space in their case against cryptocurrencies. However, in a Feb. 2 announcement from Web3 Builders, the company revealed a suite of tools to combat this issue. The initial browser extension TrustCheck was created to flag Web3- related Scams before users continue to interact with them. This new suite of tools builds on that via a Web3 Builders transaction checker, website checker and smart contract checker. Ricky Pellegrini, the CEO of Web3 Builders, said this is an integral moment for the industry to prove its trust...

Join Our Telegram channel to stay up to date on breaking news coverage Fundamentals of the global economy Despite the emergence of new issues, the economy is still recovering from the COVID-19 outbreak. Now that inflation is out of control, central banks are attempting to address the problem by hiking interest rates. The consumer price index (CPI) statistics for the United States, which was published on October 13 and came in higher than predicted (8.2% year-over-year), had a negative effect on the price of bitcoin. However, the global economy is also dealing with the energy crisis, which is impacting Europe more than the United States because of its heavy reliance on Russian natural gas and raw materials. This issue is not limited to inflation. The conflict in Ukraine and the following sanctions against Russia increase geopolitical unrest and economic uncertainty on the eastern side. Additionally, one of the largest economies in the world is being threatened by the Evergrand...