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In the past 24 hours, the upper limit net inflow of cryptocurrency market has reached $10 billion, currently at $1.21 trillion, an increase of 0

The blockchain network security incident has once again stirred up the entire coin circle.On October 7th, Beijing time, BNBChain, one of the most active public chains in the world (public blockchain, which refers to a consensus blockchain where anyone can read, send transactions, and obtain effective confirmation) incubated by the cryptocurrency exchange, was attacked by hackers

Author | Lai DaojunSource: LaidoblockchainOn September 2nd, Coin Security announced that it had fully acquired the team and business of the JEX platform, which specializes in cryptocurrency derivatives; The JEX platform will continue to operate under the Binance JEX brand as a wholly-owned sub platform of Binance. The JEX platform currency has surged in response, with a maximum of 7-fold increase in a short period of time

After the daily candlestick closed above $29.3k on Thursday, Bitcoin prices ensured a bullish outlook

The Hong Kong Securities Regulatory Commission will introduce a mandatory virtual asset trading platform (VASP) licensing system starting from June 1 this year, and plans to open up retail investors to invest in virtual assets. The Hong Kong Securities Regulatory Commission recently stated that it will release licensing guidelines for virtual asset trading platforms next month.After the formal implementation of the new virtual asset platform licensing system, all virtual asset exchanges operating in Hong Kong or promoting services to Hong Kong investors, regardless of whether they provide securities based token trading services, must obtain licensing from the Hong Kong Securities Regulatory Commission and be subject to its supervision.Conducting any unlicensed activities is a criminal offense.On April 26th, the Chief Executive of the Hong Kong Securities Regulatory Commission, Leung Fung yi, stated during an event that it is expected to introduce licensing guidelines for virtual asset trading platforms in May. During the previous consultation process, more than 150 feedback opinions were received.The main suggestion of consultation is to open up licensed platforms to provide services to retail investors. Zhitong Finance has learned that according to previous policies, platform operators can only provide services to professional investors with a funding threshold of up to HKD 8 million, and ensure that their customers fully understand virtual assets. In addition, licensed platforms will be included in the regulatory sandbox of the China Securities Regulatory Commission and will be subject to close and rigorous supervision for a period of time.On December 16, last year, the ETF based on Bitcoin and Ethereum futures launched by Southern Dongying Asset Management Co., Ltd. was officially listed on the Hong Kong Stock Exchange, marking Hong Kong becoming the world's first market to provide Ethereum futures ETF and the first market in Asia to provide Bitcoin futures ETF. Under the latest proposed trading platform system, retail investors can directly participate in Bitcoin and Ethereum trading on regulated platforms in the future.In fact, the licensing procedures for virtual asset transactions in Hong Kong have always been very strict. Under the existing system, only two encryption platforms are licensed - OSL (OSL DigitalSecurities Limited) and HashKey (HashBlockchain Limited).(Image source: Hong Kong Securities Regulatory Commission)According to media reports,Huo Coin, OKEXBoth parties have expressed their intention to apply for an exchange license in Hong Kong and have established an office in Hong Kong.Additionally, the Singapore basedDBS Silverthat 's okIt also stated its intention to apply for relevant licenses in Hong Kong to provide cryptocurrency services to local customers.that 's ok12 month transition period arrangementThe Hong Kong Securities and Futures Commission stated that considering that platform operators licensed under the Securities and Futures Ordinance may need to modify their systems and monitoring measures to comply with the new regulations, a transition period of 12 months has been proposed.The China Securities Regulatory Commission stated that, Anyone who engages in the business of providing virtual asset services or shows that they operate the business must apply for a license from the Securities and Futures Commission. The existing virtual asset trading platform has been provided as a licensed arrangement, so that they can continue to operate in Hong Kong after the implementation of the virtual asset service provider system under the Anti Money Laundering Ordinance. It must be within the period from June 1, 2023 to February 29, 2024, in accordance with the Anti Money Laundering Ordinance The virtual asset service provider system under is to submit fully completed license applications online. If the SFC considers that the relevant license application meets the conditions for licensing, the virtual asset trading platform will automatically be deemed to have been licensed from June 1, 2024 This passage may sound quite convoluted, but to put it bluntly, the two companies that have already been licensed need to comply with the new regulatory requirements within the prescribed transition period.As for the original virtual asset trading platform, if it has no intention of applying for a license, it should start preparing to end its business in Hong Kong in an orderly manner, with a deadline of May 31, 2024.Fierce business of virtual insurance companiesAccording to the consultation document of the Hong Kong Certificate Authority,The platform that applies for a license must insure the customer's assets.Liang Fengyi also told the media that the Hong Kong Securities Regulatory Commission is in discussions with the Insurance Regulatory AuthorityThe cost of purchasing insurance for customer assetsOther matters.OneDegree Group

On October 8th, IT Home reported that in the early morning of October 7th Beijing time, the smart contract platform BNBChain suffered two consecutive (2:26, 4:43) hacker attacks, washing out 2 million BNB coins in just 2 hours. This currency alone reached $566 million, and with other virtual assets, it could reach $718 million

It has been a month since the collapse crisis of FTX, and just as many people believe that its former competitor, Coina, can "dominate" the cryptocurrency market, another crisis seems to be brewing.Data shows that, up to now, the original token BNB of Coin Security in the cryptocurrency exchange has fallen by nearly 15% in the past day and nearly 21% in the past week, the lowest level since July

Source:@jason_ chen998Coin An released a Greenfield white paper on storage chain last weekHowever, we have not seen a significant industry hotspot and have not reflected it in the currency price. There is not much research on the storage field,The main reason is that there are too few players in this track, mainly Arweave and Filecoin, but storage is definitely the most important track in the blockchain field.Let me first help you sort out the outline and history of the entire storage system, so that we can have a better understanding. There has always been a controversial concept in web3, where many friends divide storage into two layers: on chain storage (blockchain, IPFS, etc.) and off chain storage (AWS, local databases, and all other heterogeneous platforms).A more reasonable division should be three layers: on chain storage (blockchain), decentralized storage (IPFS, etc.), and centralized storage (AWS, local database, etc.).People often confuse decentralized storage with on chain storage. Blockchain is a distributed ledger that also has data storage capabilities. However, what we currently broadly refer to as on chain content, whether it is NFT or Mirror, does not exist on the blockchain.Because in order to ensure that data cannot be tampered with, every full node needs to be backed up. When there are 10000 miners, even to store 1MB of information, the entire network will consume 10GB, which is very uneconomical. Therefore, the proposed solution is to store the data offline, and then place the offline storage address in the blockchain for indexing. Taking NFT as an example, it can be seen that metadata is indexed to an IPFS link, and when opened, it is a folder.Here we will extend IPFS, which is a content addressed peer-to-peer distributed storage system,The opposite of content addressing is address addressing. For example, when we store a photo on a cloud drive, the computer needs to know the IP address and domain name of the photo when downloading it in order to find the data in the corresponding location. However, if the copy does not exist or the server is shut down, the file will also be lost.But perhaps someone has downloaded this photo and stored it on their computer before, but your computer doesn't know that the other person has this photo,So to solve the problem of decentralized storage, it is necessary to solve the problem of using content retrieval instead of address retrievalIn this way, you don't need to tell the computer where to get the photos, but just tell the computer what the photos you need look like, and then the computer will ask everyone who has the photos in their hands, and if there are any, send them to me.But the content can be very large, and direct brute force retrieval is very time-consuming, soAfter hashing the file content, store the hash value as the file name, which allows for very fast retrieval of only other hash values that are the same as the hash value of the photo. Once found, ask the other person to send me a copy of their photo, which will improve efficiencyThe above is the general principle of IPFS, where storage has gone through three stages: centralization, multi centralization, and decentralization.So although IPFS is similar in concept to blockchain, it itself has no direct relationship with blockchainHowever, to achieve stable operation, many users need to contribute their storage space and network to become nodes. Therefore, Filecoin, inspired by Bitcoin, is an incentive layer built on top of IPFS to incentivize nodes that store data.So what everyone must understand is thatRegardless of the way storage is ultimately stored, it still exists on physical hard drives. Decentralized storage is a sharing economy that those with idle hard drive resources can contribute to.The concept of computing power sharing has already been used in early games such as Qiyun and Jirou, but it's just a drop in the bucket.But Filecoin, after all, is a layer that was added after the emergence of IPFS to incentivize storage service providers, butArweave integrates storage and chain more thoroughlyIt specifically developed blockweave, which, compared to the traditional chain structure of blockchain, links each block to the next block and the previous two blocks: a previous block and a historical recall block. Nodes must provide access proof when generating blocks.This is different from the proof of pow calculation. By accessing older random blocks in blockweave history, new blocks can be mined for rewards. This way, miners who store rare blocks can achieve greater returns in the long term. Through this mechanism, nodes can store as much historical data as possible without consuming a lot of resources like pow,So the originality and permanence of Arweave are higher than those of Filecoin.Just now, I mentioned that blockchain itself also has information storage capabilities, and some people call blockchain a decentralized database, but in realityThe most important responsibility of blockchain is to take on the decentralized ledger for recording transactions rather than the database, and storing a large amount of data is not the core of blockchain in terms of division of responsibilities.If blockchain is compared to a computer, although it also has memory to store a small amount of data, it requires an external hard drive to store a large amount of data.Instead of just cramming everything into memory,So decentralized storage takes on the responsibility of external hard drives, as long as the stored items can interact with the computer and memory and remain unchanged.As can be seen in Etherscan, the InputData in each transaction of Ethereum is the information written into the blockchain, but it can only be field data of simple keyvalue type, so it still needs to be supplemented by an external "hard drive".The above is an explanation of the entire storage system and the principles of Filecoin and Arweave, two storage hubs,After saying this, everyone should be very deeply aware of the importance and complementarity in the existence of blockchain.So this is one of the reasons why Coin An has become an entrant. With such a large race track and such a concentrated competitive head effect, Coin An's entry into this size should cause a stir, but there has been almost no movement.in my submissionThe main reasons are:oneStorage is the lower layer far away from users, making it difficult for users to perceive and understandAnd currently, the storage is also ToB and then ToC, such as Mirror connecting to Arweave. We write in Mirror, but we are not aware of the existence of Arweave;2. On the day of the Greenfield White Paper announcementHit the big hot spot of NostrLike Wang Feng, it's quite unlucky;threeThe storage track has not yet exploded;The prerequisite for storage is to have content, but currently there is a shortage of content production sources in the web3 application layerFor example, the largest track defi is not related to the content at all, and the NFT track has some connection with the content, but it is not very big, just a small image needs to be saved,After thinking about it, there are not many applications with a large number of "content storage" scenarios like web2 that have emerged in web3, so the storage track is far from users and few.However, as the application layer of web3 explodes, a large number of UGC products with C-side interactivity will naturally emerge, leading to a large demand for content storage. Therefore, we can see the end result, but the problem is that I cannot see the milestone of reaching the end process at the moment. Here, I would like to share myInvestment logic:After analyzing the LSD track before, I deduced that as Ethereum switches to POS, low threshold pledge services such as Lido will first emerge, resulting in a large number of verification nodes. However, the centralization of operators will greatly damage Ethereum network security,So the ultimate goal is to solve the problem of operator centralizationAfter seeing the final outcome, I found three more milestones.The beacon chain of 20 has been launched, the POS of 22 has been merged, and Shanghai has been upgraded on 23,The purpose of finding milestones is to give you a psychological expectation of the moment when the final game will arrive, as well as to find a suitable opportunity to enter, otherwise the ambush will be too early and you will have to wait for several yearsAfter the upgrade and withdrawal of funds in Shanghai in 2023, it greatly stimulated the enthusiasm for pledge, thus exposing the problem of operator centralization,So the first six months of Shanghai's upgrade are a good time to enter the venueOtherwise, we will be waiting for the first milestone of 2020 in the next two years.I can see the final outcome of the deposit, but I still cannot see through the milestones in the middle. However, as the infrastructure improves and I also see itThis year, application layers such as socialfi are rolling outin my submissionPerhaps it is possible to try a small amount of layout to store related assets, which does not represent investment advice, everyone DYOR.Okay, back to Greenfield, as mentioned at the beginning, its ecosystem revolves around usersTrinity architecture: BSC chain, Greenfield, and Dapps. Coin security has a transaction chain, followed by a storage chain. Developers develop their own DAPP based on these two, and Greenfield is a side chain with a native cross chain bridge with BSC, both using BNB as tokens. This combination of fists will complete the Coin security ecosystem.So on the one hand, the storage track is large enough to attract the interest of Coin An personally, and on the other hand, it is also an important part of supplementing the Coin An ecosystem;By reading the white paper, it can be seen that the core of Greenfield is a storage chain and storage node network, which is actually similar to Arweave;The storage chain has its own governance logic and incentive system, which stores metadata, block status data, account information and permissions, billing and other data;It is worth noting that metadata exists on the chain, and there is a separate object storage system that stores object data off the chain. Taking NFT as an example, metadata is placed on the chain instead of IPFS. However, the image that occupies the most space in metadata itself is still located below the chain. This design may be based on performance and cost considerations, and when using data, the off chain object data is then referenced through the on chain metadata.BNB, as the original token of the storage chain, is used for governance and payment of GAS, which can flow between BSC and Greenfield, so this perspective is another value empowerment for BNBBut personally, I don't think BNB's price will benefit a lot from the storage track, because BNB's price is a complex, and storage empowerment is only one factor that affects the price,BNBin my submissionIt's better to directly invest in tokens that specialize in storage, because the empowerment of these tokens comes from 100% storage dividends, and of course, everything is DYOR;It is also worth noting thatThe Greenfield format is fully compatible with Ethereum EVM, making it easy for existing products to access;It is also interesting that the management of permission groups is quite detailed, which can control the permissions of each account for data operations such as adding, deleting, modifying, and querying. This is quite practicalIntroducing data integrityChallenge proof,Similar to OP, it can submit challenge transactions to nodes,Greenfield also randomly triggers challenge events, similar to sampling checks,If a challenge is accepted, the validator will check the challenged node. If the challenge is successful, the initiator will receive a reward, and the node will be punished. If the challenge fails, the data will have a freeze period and will not be challenged again,To avoid resource waste.Interestingly, it is not only used for data storage, but also supports data-based economic value creationFor example, the data permissions mentioned earlier can also cross chain to BSC and become a digital asset of BSC, which is interesting. My data is valuable, and my data can also be valuable for operations.The participants in the entire Greenfield ecosystem are as follows:BSC undertakes DAPP deployment, data resource mirroring, cross chain, and consensus;Greenfield is responsible for payment, data resources, cross chain, and consensus. Please note that as mentioned earlier, Greenfield also has its own governance mechanism, so it also has its own consensus;Then the SP node interacts with Greenfield for data;The diagram on the right shows the network structure, which is similar to the OP set of validators with elections, etc;The account system in Greenfield is independent and compatible with BSC and Ethereum in format, so it also has the conditions for Wallet to support Greenfield in the future.It is interesting that Greenfield, as a chain, was developed based on Cosmos,Cosmos' position as the leader of Layer0 seems to be getting more and more stable, and the recently popular Canto is also based on Cosmos. However, personally, I think Canto's set has a bit of Luna's shadow.The trouble with Coin Security lies in the fact that BSC is Fork Ethereum, unlike APTOS and SOLONA, which do not have their own independent technical system, making it difficult to cultivate their own developer community,This issue is also encountered by many EVM chains. As a storage chain for developers, Greenfield needs to work hard to establish developer loyalty. Therefore, Coin Security needs to first switch the stock DAPP to Greenfield before attracting incremental growth.Based on the analysis of the storage track of Coin Security Greenfield, I am personally optimistic about the storage track and look forward to the emergence of more truly available application layer products,Whether smart wallets and account abstractions are used to lower user entry barriers in infrastructure, or performance enhancing chains such as aptos and layers, the infrastructure for application layer explosion has been laid, and it is time to build a nest to attract talent.Disclaimer and RisksPlease review the disclaimer, terms, and risks to understand the legal statements, content, and risk factors of this document. In particular, you should conduct your own research (DYOR) before making any investments and be aware of the risks associated with forward-looking statements in this document.

Coinance, the world's largest cryptocurrency exchange, has malfunctioned and its spot order book data has not been updated for a long time. Coin An stated on its social media platform that there is an issue affecting Binance's spot trading

Reporter: Cai Ding, Editor: Gao HanSince the beginning of this month, there has been a continuous turmoil in the "coin circle".After Justin Sun, founder of Tron and member of Huobi's global advisory board, was sued by the Securities and Exchange Commission (SEC) on March 22, Eastern Time,On Monday, March 27th Eastern Time, the US Commodity Futures Trading Commission (CFTC) sued Binance, the world's largest cryptocurrency exchange, and its CEO, Zhao Changpeng, for alleged violations of regulatory measures.It is reported that CFTC filed the above-mentioned lawsuit in the Federal Court of Chicago on March 27th Eastern Time. CFTC stated that Coin An did not register with it, thus evading a series of its obligations.According to a Bloomberg report,Since at least 2021, the CFTC has been investigating whether Coin Security has failed to prevent the American public from buying and selling cryptocurrencies and their derivatives.According to CFTC rules, if a platform allows the American public to trade a certain derivative, it must be registered with that institution.Image source: TwitterAfter being sued by the US CFTC, Zhao Changpeng posted a one word tweet on his personal social media platform:fourSuspected of citing the fourth clause of its 2023 focus and recommendations released at the beginning of the year in response: IgnoreFUD, fakenews, attachments, etc, Ignoring FUD (fear, confusion, doubt) messages, fake news, malicious attacks, etcCFTC: The defendant intentionally disregarded relevant terms and regulationsAccording to a Bloomberg report,CFTCIRSSEC

For BNB, this is an important week, as it is the cryptocurrency that provides power for the Coin Security smart chain. Due to concerns about the collapse of US banks, asset classes were generally safe haven, and BNB experienced an astonishing rebound after falling to a mid-term two month low of $260 late last week