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The Dangers of Copy Paste in the DeFi industry

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What made Apple such a successful company? You will not be so very far from the truth if you say Steve Jobs or his pursuit of perfectionism. At a young age, he learned the importance of “painting the back of the fence” as good as the front even if no one else will see it. Later, this will become his calling card – making the perfect product first as revenue and profits would follow.

Following the quality, uniqueness plays a huge role in creating loyalty from the current customer base. When Steve Jobs first unveiled the iPhone, he described it as “a revolutionary mobile phone.” Everyone wanted it, and especially nearest competitors. 14 years later Apple still has a huge base of loyal customers. Can you imagine something similar happening to a company that simply copies others?

The same approach applies to any other sector in the economy, whether it be a shoe store, bakery, or even the IT industry. In the latter case, a poor code quality could lead to financial losses or waste of time due to maintenance, modification, or adjustments and, of course, hacking attacks. If you need an example, just google “Colonial Pipeline case” and how the US largest fuel pipeline had to pay $4.4m to a gang of hackers who broke into its computer systems.

We could even say that they were lucky to pay such a low price. Such mistakes are not forgiven in the crypto industry. A couple of weeks ago, for example, the DeFi industry has been hit by the news that Binance Smart Chain DeFi protocol Pancake Bunny has been exploited via a flash-loan attack, in what the community initially believed to be a record-setting $1 billion loss. Hardly anyone, besides the users, will face any consequences.

For that reason, before choosing the DeFi project for staking it is of vital importance to check the quality and uniqueness of the code. In other words, if the team simply copy-pasted the Uniswap code then something is not right. You cannot call it a unique product but a dangerous cacophony.

It is crucial to understand that by copying code developers duplicate bugs and security vulnerabilities. Additionally, subtler semantics could emerge when programmers try to edit the copied code. No surprise recently there were so many hacking attempts and most usually successful. Only in the DeFi industry, since 2019, hacks have caused losses in the region of $285 million (~£202 million).

Thus, lesson number one is to “check the code”! Forewarned is forearmed – if you know what to look for, you may be able to decrease the chances of scammers taking advantage of you. Even if you don’t know how to code, don’t panic – if the project has an open code and if there’s enough interest around it, others will surely conduct their research and hopefully share their conclusions with the rest of the community.

As a case example, let’s look at Nimbus, an automated DeFi platform that offers 16 revenue streams for users based on IPO participation, Lending, Crypto Arbitrage-Trading, and so on. The first good sign about the project is that its team is trying to bring value to both the industry and platform users. In other words, they are not here just to make a quick buck.

It should be noted that Hacken, one of the most active and reputable security auditors in the crypto industry has audited Nimbus smart contract and didn’t find any vulnerabilities. Launched in 2017, Hacken’s security data product, CER has audited more than 280 exchanges and provided more than 80 security certificates. In July 2020, Hacken partnered with the biggest independent crypto aggregator CoinGecko, which saw them adopt CER cybersecurity data as a crucial part of CoinGecko’s TrustScore.

Moreover, the external technical audit also hasn’t identified any errors and confirmed that the Nimbus Platform is fully functional and safe. Besides that, Nimbus launched Bug Bounty programs — where participants can test code performance and receive rewards if they find bugs. All of this greatly reduces the risk of using projects’ contracts. If you want to learn more about the bounty, check this post where you will find all the necessary information including links to the Github repository.

As well noted by the Binance Academy, “One thing to note here is that audits are expensive. Legitimate projects will typically be able to pay for audits, but scam projects usually won’t bother.”

Talking about platform improvements, in a matter of weeks, Nimbus is going to be deployed on the Binance Smart Chain. It will allow increasing scalability in transactions, at the same time making them cheaper. Currently, the Ethereum network has an average gas fee of $5 per transaction, while transactions on Binance Smart Chain cost around $0.2–0.3. Once again, for more info go check this article.

Last but surely not least, it should be noted that the Nimbus platform offers 16 earning strategies for users boosted by multiple layers of risk management. No one else on the market can offer this unique combination of values:

  1. Diversified revenues from Nimbus dApps for IPO participation, Startup Crowdfunding, Lending & Borrowing, and so on. No other project in the crypto industry gives access to IPO.
  2. Nimbus Governance token, GNBU token, which lets holders receive portions of 10 platform’s revenue streams by simply holding the token (as well as participate in the governance process through DAO).
  3. Nimbus Smart contracts boast not only a top security score but also several layers of financial risk management for ultimate efficiency.

Source: https://bitcoinist.com/the-dangers-of-copy-paste-in-the-defi-industry/?utm_source=rss&utm_medium=rss&utm_campaign=the-dangers-of-copy-paste-in-the-defi-industry

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Seattle Surge, Los Angeles Guerrillas advance in Call of Duty League Stage 4 Major

Seattle and L.A. kept their hopes alive.

The post Seattle Surge, Los Angeles Guerrillas advance in Call of Duty League Stage 4 Major appeared first on Dot Esports.

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Facing elimination from the moment they stepped foot in Dallas, both the Seattle Surge and Los Angeles Guerrillas are moving on in the Call of Duty League Stage Four Major. 

Seattle looked extremely strong in their matchup with the London Royal Ravens in the first series of the event, winning with a 3-1 map count. Octane led the way for the Surge, posting a 1.71 overall K/D, including an unbelievable 2.06 K/D in the series’ two Hardpoints. Prestinni and Gunless recorded 1.03 and 1.04 K/Ds, respectively. 

Seattle is a team that could make a run, especially now with the tournament being held on LAN. They looked downright dominant at points in their series vs. London and seem to be gaining confidence as they attempt to kickstart a losers bracket run. Seattle is a team with a lot of championship experience and they showed that in their win over London. 

The big news of the first day of the Stage Four major was that the Los Angeles Thieves would be without Huke due to a missed COVID-19 test. Instead, the Thieves slotted in Drazah for Huke, marking yet another roster change in what has been a turbulent 2021 season for 100 Thieves’ CDL team. Despite the solid play from Drazah in Huke’s absence, it was the other team from Los Angeles that took the series 3-2. 

Chino led the way for the Guerrillas, posting a 1.16 overall K/D including a 1.54 K/D on Garrison Control. Chino was the steady hand for the Guerrillas, making the right plays at the right times. He was instrumental in L.A. closing out the Thieves in their 3-1 win on Garrison Control. No other member of the Guerrillas went positive as they were actually outslayed by 20 kills throughout the series. 

Seattle will kick off Friday’s action when they take on the Paris Legion at 2pm CT. The Guerillas match up with the Florida Mutineers following Seattle vs. Paris at 3:30pm CT.

Source: https://dotesports.com/call-of-duty/news/seattle-surge-los-angeles-guerrillas-advance-in-call-of-duty-league-stage-4-major

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Riot sends out customized spikes to content creators, celebrities to celebrate VALORANT’s anniversary

Us, normal human beings, aren’t getting one of those kits.

The post Riot sends out customized spikes to content creators, celebrities to celebrate VALORANT’s anniversary appeared first on Dot Esports.

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Riot Games has shipped out a customized VALORANT spike that comes with a set of three special knifes to some content creators and personalities, to celebrate the tactical FPS’ first anniversary.

People like the worldwide famous Russian DJ Anton Zaslavsk, known professionally as Zedd, and content creator QuarterJade shared the goodies on social media. It comes with a personalized Spike, the object used in plant/defuse game modes, a glitchpop dagger, a prime karambit, and a singularity knife.

“As usual VALORANT has outdone themselves,” QuarterJade wrote on Twitter. “Thank you so much for the gifts and happy YEAR 1 anniversary to my favorite game.”

The initiative was well-received in the VALORANT community, especially because all the items look absolutely beautiful. Of course, it caused some jealousy in some people, but what could Riot have done? If they send it out to every VALORANT fan, the items would certainly lose their uniqueness.

VALORANT officially celebrated its first anniversary earlier this month on June 2 and Riot, among other things, created the Year One event, which features a free pass that rewards VALORANT players with exclusive items. Each of the rewards is associated with the game’s first birthday such as the Year One Card, Year One Gun Buddy, Episode Three Reflection Card, YR1 and Year One titles, and 20 Radianite Points.

Even though you can’t get what those celebrities and content creators received, don’t miss out on the opportunity to win exclusive VALORANT items when the Year One event becomes available on June 22, the starting date of Episode Three, Act One.

Source: https://dotesports.com/valorant/news/riot-sends-out-customized-spikes-to-content-creators-celebrities-to-celebrate-valorants-anniversary

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Paraguay Official Plans to Legislate Bitcoin Next Month

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

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Source: https://cryptobriefing.com/paraguay-official-plans-to-legislate-bitcoin-next-month/

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