NFT News by Thebittimes.Com

The initial impact amounted to 20 Ether, worth $31,000, while the validator involved has now been taken offline. Ethereum staking protocol Lido Finance has disclosed its protocol saw 20 slashing events due to a series of infrastructure and signer configuration issues from validators operated by Launchnodes. The incident occurred on Oct. 11 at about 3:30 pm UTC, according to Launchnodes. In an Oct. 11 post on X, Lido said the Launchnodes' validators nodes are now offline, and slashings have ceased while the root cause was being investigated. The slashing took place on the Ethereum blockchain and Lido projected the impact to be around 20 Ether (ETH), worth $31,000, as well as additional penalties while the validator s are offline for troubleshooting, along with inactivity penalties that the validator s will accumulate. 20 slashings have occurred relating to validators operated by the @launchnodes node operators as a part of the Lido protocol. Launchnodes and DAO contributors are in...

After the SEC’s crack-down on Kraken, Coinbase’s legal head outlined the differences between Kraken’s staking product and its own. The staking services offered by cryptocurrency exchange Coinbase are “fundamentally different” to what was offered by its peer exchange Kraken — which recently came under fire from the United States securities regulator — according to Coinbase's head lawyer. Paul Grewal, Coinbase’s chief legal officer, made the comments in his response to a shareholder question regarding its staking services during a Q&A session on the exchange’s fourth-quarter results, noting: “The staking products that we offer on Coinbase are fundamentally different from the yield products that were described in the reinforcement action against Kraken. The differences matter.” The first point of difference Grewal highlighted was that Coinbase users retain ownership of their cryptocurrencies at all times. In its user agreement last updated Dec. 15, 2022, Coinbase states that it m...

An internal conflict at the privacy-focused Secret Network has resulted in at least one validator throwing in the towel. A major validator for the privacy smart contract layer-1 blockchain Secret Network has announced that it will no longer provide nodes and support for the network. On Jan. 29, major validator Smart Stake announced that it would be shutting down its Secret Network validator nodes on Feb. 21. Smart Stake cited “complex/stressful validator operations, cost/effort of validator ops, and recent events,” as reasons for withdrawing its services. Smart Stake is a staking and validator service provider that supports several networks including Crypto.com, Polygon, Cosmos, and until recently Secret Network. PSA for @SecretNetwork delegates of Smart Stake: Smart Stake will be shutting down its Secret validator on 21st Feb. Please redelegate to another validator . Reasons: 1) Complex/stressful validator operations on $SCRT 2) Cost/effort of validator ops 3) recent events ...