Mediaboss Marketing

PRESS RELEASE

Published April 19, 2023

HONG KONG, CHINA / ACCESSWIRE / April 19, 2023 / MFIL DAO, the First decentralized & FVM-based liquidity solution for Filecoin network, was invited to participate the Web3 Festival Hong Kong and joined the Filecoin DeStor HK on 15th April. It is a significant gathering of tech leaders, entrepreneurs, and officials from financial, regulatory and research areas. They are all seeking to explore the latest trends in Web3 and blockchain technology. As the Filecoin is one of the most important infrastructure of the Web3, this event is also an great opportunity for Filecoin to share their knowledge and vision for the future of the Filecoin ecosystem.

The event, held from April 13th to 16th, featured keynote speeches, panel discussions, and workshops that covered a range of topics, from decentralized finance to Web3 infrastructure. With attendees from around the world, Web3 Hong Kong was a vibrant and diverse gathering of innovators and tech leaders in the blockchain space.

As a part of the Web3 Festival Hong Kong, Filecoin DeStor HK focused specifically on the Filecoin network and its potential for decentralized storage. The event aimed to show the grand vision and opportunities that the Filecoin network offers to developers, entrepreneurs, and investors. MFIL DAO's core community ambassador, Steve also gave a speech and joined the panel discussion.

In his speech, Steve discussed the synergy between Filecoin and Web3, highlighting the opportunities for innovation and growth in the industry. He noted that Filecoin's decentralized storage technology is a fundemental component of Web3 infrastructure, enabling developers to build decentralized applications that are secure, scalable, and accessible to all. He also emphasized that the FVM will greatly release the potential of Filecoin network because many decentralized applications is building or will be built on Filecoin.

His speech also mentioned that with the growing of the Filecoin netwrok, it will bear enormous amount of valuable data and asset. Thus it is crucial to connect all service providers together with users and FIL holders to make the ecosystem growing healthily. MFIL DAO is born to serve this goal. On one hand, MFIL DAO's smart contracts minimize the asymmetric information within the Filecoin ecosystem, while maximize the information and asset liquidity over the network. On the other hand, operating as a DAO means that all participants in MFIL DAO is connected and encouraged by a transparent and fair governance mechanism and their interest is protect by the smart contract instead of by few people's will. Therefore, the MFIL DAO can reduce the conflict of interest between different parties and to achieve a greater goal comparing with the centralized company or project.

MFIL DAO's participation in Hongkong Web3 Festival and Filecoin DeSror HK was a significant moment for the organization, highlighting its commitment to promoting the adoption of decentralized technologies and supporting innovation in the blockchain industry. During the event days, the MFIL DAO team had a series in-depth conversation with Protocal Labs teamsHK government officials and public companies to explore further corporation of utilizing decentralized storage and the Filecoin network. These events will play an essential role in fostering innovation and driving adoption of these transformative technologies.

About MFIL DAO:

MFIL DAO is the world's first decentralized FVM-based liquidity solution for Filecoin network. It provides a complete set of smart contract enabling users to gain liquidity and add value to their asset by staking MFIL is established and operated in the way of decentralized autonomous organization ("DAO") and involved many participants such as: Storage Providers, FIL holders, Developers, CEX/DEX, financial institutions, legal & auditing firms, etc.

MFIL DAO is committed to breaking the existing problems of asymmetric information, inefficient resource allocation, and poor asset liquidity, and providing liquidity solutions that maximize value for all participants in the entire Filecoin ecosystem.

Website: https://mfil.modchain.io

Twitter: https://twitter.com/MFILDAO

Medium: https://medium.com/@mfildao

Discord: https://discord.gg/mfildao

Email: [emailprotected]

Contact Name: Richard Li

Email: [emailprotected]

SOURCE: MFIL DAO

View source version on accesswire.com: https://www.accesswire.com/750084/MFIL-DAOs-Role-in-Shaping-the-Future-of-Web3-with-Filecoin

News network reaching more than 1,500 media outlets in 98 countries. The newest, fastest-growing and most disruptive newswire available today.

See original here:

MFIL DAO's Role in Shaping the Future of Web3 with Filecoin - Digital Journal

Decentralized storage has always been considered a technology closely related to blockchains, and there are indeed many synergies between these two innovations. That said, decentralized storage stalwarts like Filecoin (FIL) and Internet Computer (ICP) have not been faring as well as TMS Network (TMSN) lately. TMS Network (TMSN) has already raised more than $2.5 million in its first token presale, and it has plenty of room to grow in its second phase, all in all it already raised over $4.0 million.

The unique value proposition of TMS Network (TMSN) is that it offers a decentralized exchange (DEX) in a package that will feel comfortable and familiar for users of traditional, centralized exchanges (CEXs). The sign-up process is extremely simple, as there is no need to turn over a passport or drivers license. Instead, users simply connect their existing Ethereum (ETH) wallets to the decentralized application.

TMS Network (TMSN) can provide much more than just crypto asset trading, as the trading engine is built around derivatives. This means that TMS Network (TMSN) can effectively offer trading for any hypothetical asset that has a price ticker. Due to the non-custodial nature and ease of use associated with the DEX, the goal is for TMS Network (TMSN) to be the only application traders need to swap between their positions.

It should also be noted that TMS Network (TMSN) has special features for those new to the world of trading assets, such as an academy and trading lessons. Users are even able to track the trades of other users via a social trading feature to learn from the best on TMS Network (TMSN).

Filecoin (FIL) now supports its own smart contracts, which are self-executing agreements that run on the blockchain. Smart contracts can be used to create various applications and services on top of Filecoin (FIL), such as decentralized file sharing, content delivery networks, data marketplaces, and more.

Smart contracts on Filecoin (FIL) are written in a programming language called Clarity, designed to be secure, predictable, and verifiable. Clarity on Filecoin (FIL) supports formal verification, which means that smart contracts can be mathematically proven to be correct and bug-free.

To deploy a smart contract on Filecoin (FIL), developers need to have a Filecoin (FIL) account with enough FIL to pay for the deployment fee and the storage rent. Filecoin (FIL) smart contracts can be used to create various types of applications and services that leverage the decentralized and secure nature of the network, such as decentralized file sharing, content delivery networks, data marketplaces, and data backup and recovery.

The Internet Computer (ICP) network, a decentralized platform that aims to reinvent the Internet, has launched a new token called ckBTC that is pegged to bitcoin (BTC) on a 1:1 basis. ckBTC is a liquid and cost-efficient version of BTC that can be used for faster and cheaper transactions on the Internet Computer (ICP) network without compromising security or decentralization.

ckBTC is created and destroyed by smart contracts running on the Internet Computer (ICP) network, which are governed by a decentralized autonomous organization (DAO). By issuing ckBTC, the Internet Computer (ICP) network aims to bring layer-2 capabilities to Bitcoin, enabling faster and cheaper transactions for BTC holders while also opening up new possibilities for decentralized applications (dApps) that can leverage both Bitcoin and the Internet Computer (ICP)s features.

Its worth noting that both Filecoin (FIL) and Internet Computer (ICP) operate their own blockchain networks, while TMS Network (TMSN) simply builds upon the success of Ethereum. Filecoin (FIL) and Internet Computer (ICP) are taking quite a risk rolling their own crypto networks, so TMS Network (TMSN) seems like the more practical play for 2023.

Presale: https://presale.tmsnetwork.io

Whitepaper: https://tmsnetwork.io/whitepaper.pdf

Website: https://tmsnetwork.io

Telegram: https://t.me/tmsnetworkio

Discord: https://discord.gg/njA95e7au6

See more here:

Decentralized Storage Titans Filecoin (FIL) and Internet Computer ... - Cryptopolitan

The North Carolina Blockchain Initiative (NCBI) was launched in 2019 as a nonpartisan, all-volunteer task force under the supervision of the Office of the Lieutenant Governor of North Carolina to serve as a primary resource on the emerging digital asset and blockchain ecosystem.

Recognizing the increasing importance of financial technology and blockchain-based technologies, bitcoin, virtual assets, smart contracts, and stablecoins, the NCBI is announcing an expansion plan and new appointments for 2023- 24. The ongoing initiative will explore the broader implications for this evolving technology, gather information from private and public sources, pursue policy recommendations, and strengthen our states position as a leader in technological innovation and consumer protection.

North Carolina is already home to many notable blockchain and FinTech startups, and we need to do all we can to keep our state competitive, said Lieutenant Governor Robinson. We appreciate the incredible work this task force has done in researching this transformational technology, and we thank them for their continued service.

North Carolina is fortunate to have several national leaders on Capitol Hill focused on the crypto ecosystem, including Representative Patrick McHenry, Chairman of the U.S. House Financial Services Committee, and U.S. Senator Ted Budd, a leading voice on decentralized finance, said Dan Spuller, who serves as a Co-Chair to NCBI, and Senior Director of Industry Affairs for the Washington-based Blockchain Association. We are a state where hard work, innovation, and our ability to adapt has enabled North Carolina to compete globally on many levels.

North Carolina state policymakers have historically been favorable to blockchain technology, and were among the earliest pioneers of regulatory innovation for the blockchain industry with the passage of the North Carolina Money Transmitters Act of 2016, and bipartisan North Carolina Regulatory Sandbox Act of 2021, the latter of which passed both chambers unanimously and created a multi-agency innovation council.

Go here to see the original:

North Carolina Blockchain Initiative Announces New Appointments ... - NC.GOV (.gov)

Matter Labs, the team behind Ethereum layer 2 scaling solution zkSync, has confirmed that 921 Ether (ETH) worth $1.7 million is currently stuck in one of its new smart contracts, GemstoneIDO.

However, the firm claims the funds to be safe and to have found an elegant solution for rescuing the funds, which accumulated during the Gemholic token sale.

Initially stating that the funds wouldnt be stuck forever, Matter Labs said in its most recent tweet that it had found an elegant solution to unfreeze the GemstoneIDO contract and transfer the funds out.

Matter Labs identified the issue to have stemmed from the .transfer() function in the GemstoneIDO smart contract, which is part of a project run by the GemholicECO ecosystem.

Matter Labs said that the issue could have been prevented had they deployed the contract on a testnet first.

The faulty function came from zkSync Era, a new type of Ethereum Virtual Machine (EVM) zero knowledge proof rollup that executes smart contract much faster than on the base layer.

The team however stressed that zkSync Era is not EVM-equivalent, meaning that it is compatible with the EVM at a bytecode level. This means some functions work differently in the new environment.

This is a deliberate design choice with specific upsides and trade-offs, they said.

In justifying its design choice, Matter Labs said zkSync Era could process some transaction types between 10 to 1,000 times cheaper than other EVM rollups.

Nontheless, Matter Labs held themselves accountable for the mistake and assured members of the zkSync ecosystem that they'll continue resolve similar issues relentlessly.

Several members of the CryptoCurrency subreddit, however,expressed their frustration on the matter:

Im all in for seeing Zero Knowledge tech becoming more and more relevant in the crypto space. However, these chains also have to take into consideration the fact that peoples funds are at stake, said another.

Related: zkSync Era launches with Uniswap and Sushi First zkEVM on mainnet

Transaction failures of the GemstoneIDO contract can be seen on the zkSync explorer page, which also shows the 921 Ether is stored in its smart contract.

Matter Labs launched zkSync Era on mainnet last week, promising that decentralized exchanges Uniswap and SushiSwap would be live in a matter of days. That hasnt happened yet, however, projects including Argent, Celer Network and MetaMask are live on the network now.

Updated 1:37am UTC time on April 7: This article has been updated to add comments from Matter Labs most recent post on the incident.

Magazine: Ethereum is eating the world You only need one internet

See the original post:

zkSync Eras elegant fix for 921 ETH stuck forever in smart contract - Cointelegraph

A bug introduced into SushiSwap four days ago was exploited late Saturday to drain about $3.3 million worth of Ethereum from a single user's account.

According to a Twitter post by blockchain security and data analytics company PeckShield, a wallet controlled by the victima prominent member of the Crypto Twitter community known as Sifuwas targeted by an "approve-related bug" in SushiSwap's RouterProcessor2 contract to steal about 1,800 ETH.

Separate analysis by Binance-backed cybersecurity firm Ancilia determined that the flaw was the failure to validate access permissions halfway through a swap transaction. The firm also found the vulnerable contract on the Polygon network.

SushiSwap "head chef" Jared Gray confirmed the bug and exploit about an hour later, and repeated Peckshield's recommendation that users who have interacted with the SushiSwap blockchain revoke all permissions granted to its contracts. Grey had broken the news of SushiSwap's SEC subpoena two weeks ago.

Early Sunday morning, SushiSwap CTO Matthew Lilley followed up with more details.

Were currently all hands on deck working through identifying all addresses that have been affected by the RouterProcessor2 exploit. Lilley wrote. "Several rescues have been initiated, and we are continuing to monitor / rescue funds as they become available."

"There is no risk at this time with using Sushi Protocol, and the UI," he continued. "All exposure to RouterProcessor2 has been removed from the front end, and all [liquidity providing and] current swap activity is safe to do."

To help users determine whether he or she had granted RouteProcessor2 access to its funds, Lilley posted a link to a tool to check for exposure across a variety of networks, including Ethereum, Polygon, Avalange, Arbitrum, Gnosis, Optimism, and others.

According to Grey, more than 300 ETH of Sifu's stolen funds have since been recovered, with another 700 ETH in process. The recovery effort has been tracked by crypto visualization service MetaSleuth.

Despite the hack, the price of SushiSwap's SUSHI token has dipped only slightly in the past 24 hours, down about 3%.

In 2021, SushiSwap narrowly avoided a massive hack when a "white hat" crypto researcher discovered a bidding bug that could have been exploited to the tune of $350 million.

Read more:

SushiSwap Smart Contract Bug Exploited in $3.3 Million Theft - Decrypt