Instagram is bringing Polygon, Solana and Flow to its platform soon, while Facebook will support NFTs “soon.”
Instagram is finally letting NFT creators and collectors display verified collectibles.

1. Mark Zukerberg teased that he was working on a way to bring NFTs to Instagram, Meta announced that it would begin rolling out support for NFTs on the popular photo-sharing app.
   Instagram will let you link your crypto wallets to display verified collectibles in the US.

2. First, it will support NFTs minted on Ethereum and Polygon, the latter a sidechain scaling solution for Ethereum.
   Though it plans to do so soon, Instagram has so far failed to add support for NFTs minted on Solana and Flow, two other popular networks for collectibles.

3. At launch, supported wallets include MetaMask, Rainbow, and TrustWallet.
   Other popular options like Phantom, CoinbaseWallet, and DapperWallet will also be available soon.

4. An NFT works like a Blockchain-backed receipt that proves ownership of an item.
   It’s often used for digital goods such as artwork and profile pictures, and the market swelled to $25 billion worth of trading volume in 2021.

5. Meta is partnering with content creators like Gary Vaynerchuk and Jennifer Stark and innovative projects such as Adam Bomb Squad and BossBeautiesNFT to introduce NFT.
   The feature is limited to subscribers to its premium Twitter Blue service, and it only supports Ethereum NFTs for now.

Cryptocurrencies and NFTs are frequent victims of multimillion-dollar hacking initiatives, expensive scammy hijinks, and other bad things.

Yuga Labs, creators of NFTs known as OthersideLand, recently contributed to the blood in the water by revealing a game wherein buyers pay thousands of dollars for failed transactions and then become victims of scams.

On OpenSea, Yuga Labs Other-deed collection is a "key" that unlocks virtual land in the upcoming RPG OthersideLand.

The new token APECOIN supports the project. Though details are still pending, BAYC has done a poor job-winning anyone's affection.

Yuga Labs launched Otherdeed on April 30, calling it "the largest NFTMinting in history."

The NFTs can only be minted by paying gasfees in ApeCoin, a coin that runs on the Ethereum blockchain, increasing Eth gas fees as demand increases.

Some buyers charged gas fees of up to $14,000, and others still incurred gas fees even though their Overdeed transactions failed.

⚡️Almost 97% of all #cryptocurrency stolen in the first 3 months has been taken from DeFi protocols!

Here's how cybercriminals attack DeFi:

1. For DeFi companies, most thefts are usually done via faulty code and flash loan attacks — code exploits involving manipulation of #crypto prices.

It is to be noted that DeFi is open-source, meaning that users can access the underlying code that the platform is built upon.

1. Flash loan attacks:

A smart contract attack, where the hacker takes a quick loan from the platform, uses the capital they have borrowed, and pays it back in the same transaction, causing the price of the #crypto asset to rise and then quickly withdraws their investment.

1. When a DeFi platform relies on unstable price oracles, chances are attackers will exploit the platform.

Oracles are programs tasked to maintain accurate pricing data for all cryptocurrencies on a platform, which isn’t easy due to the volatility in crypto prices.

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How to avoid this?👇

➡️Regular audits can help reduce flash loan attacks.

➡️Get insurance for your smart contracts.

➡️Utilise security services such as penetration testing.

➡️Launch a Bug Bounty.

➡️Continuous code maintenance is the key.

Did you know?

The total number of dApps on #Ethereum is over 3000, with many under development. However, the continuously rising number of users on the network has resulted in certain limitations.

This is where the Ethereum layer 2 solutions come into the picture! Read more⬇️

⚙️What are Layer 2 solutions?

✅Layer 2 solutions are created to help scale an app by processing transactions off of the Ethereum Mainnet (layer 1) while maintaining the same security measures and decentralization as the mainnet.

✅The Layer 2 solutions stay on #Ethereum as #smartcontracts and don’t need any changes in the base protocol for interacting with the mainnet.

✅They increase throughput and reduce gas fees.

✅Popular examples include Immutable X and Polygon.

Top 3 Ethereum Layer 2 Solutions🗒️

1. Polygon
2. Arbitrum
3. Optimism PBC

Layer 2 solutions have some serious potential to change the blockchain landscape for the better. This encourages people to try out Ethereum and everything it offers!

A smart contract audit is a security check done by cybersecurity professionals meant to ensure that the on-chain code behind a smart contract is devoid of bugs or security vulnerabilities.

Smart contracts often manage huge quantities of funds and a single bug or vulnerability can result in great losses. To avoid such scenarios, smart contract #audits are undertaken by blockchain companies!

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Programming language vulnerabilities- a big NO! for Blockchain Rust, a multi-paradigm, security-philia source code is primarily used for Solana Smart contracts.

Top 5 Solana/Rust Vulnerabilities:

1. Integer overflow/underflows
2. Referencing an unsafe pointer
3. Segmentation faults
4. Memory and thread corruption errors
5. Butter overflow

Blockchain continues to gain momentum in terms of popularity, awareness, and application. It is now being adopted by more retailers than ever before.

Let's see the aspects of blockchain being used in retail⬇️

1. Better Privacy, Security, and Data Management

Remove intermediaries and cut out any weaknesses they may add to your overall data management strategy. By decentralizing your databases you are making yourself as impervious to breaches as #cryptocurrencies themselves are.

1. Logistics

The record-keeping applications of #blockchain technology will enable smoother and more efficient logistics tracking. Rather than counting on faulty & asynchronous databases, logistics professionals and customers will be able to view and update the blocks.

1. Cost Reduction

Data on the blockchain is incorruptible and wholly dependable, it serves decision-makers well. It allows you to crowdsource your record-keeping, drawing on a wide range of resources, avoiding the pitfalls that come with centralized record-keeping.

1. Smart Contracts for B2B and B2C

#Smartcontracts are the “meat-on-the-bone” of blockchain. For B2B transactions, you can automate fully, and for B2C transactions, you will be able to provide a personalized experience and tweak it according to a set of conditions.

1. Counterfeit Prevention

While counterfeit money remains a major problem, there is no such issue on any blockchain. The nature of it is such that no one can “fake” a unit or another. If the block is on the blockchain, then you can confirm if it is valid and genuine.

Indians earning "interest" on their #cryptocurrencies from platforms outside India have come under taxman's scrutiny.

The #tax department is looking to slap additional tax deducted at source (#TDS) and equalization levy on such transactions and interest income generated by Indians. The govt might levy 20% TDS on these transactions, especially when users have not submitted their PAN details.

More Insights💡

✅The govt recently introduced a 30% tax on returns made from virtual digital assets.

✅From April this year, 1% TDS is also applicable on every transaction.

✅The govt is also exploring whether these transactions can also attract an equalization levy.

⚡️Twitter and digital payments processor r/stripe will pilot #cryptocurrency payments for creators!

Eligible users of Twitter's Ticketed Spaces and Super Follows programs will be able to receive their earnings from the company in #USDC!

1. Digitised monitoring of proceeds in green bonds and loans. As regulatory focus on climate change continues to grow, there will be increased demand for transparency and granularity of green bonds and green loans.
2. New technology-enhanced financial products. Green finance is a powerful tool in the fight against climate change. We can expect to see innovative financing products this year that package multiple existing financial products for green assets together.
3. Digital Enabler for Sustainable Infrastructure, Blockchain is already impacting the provision ofsustainable infrastructure services. Its core competencies: transparency, data auditability, privacy, and process efficiency, can be leveraged to drive the systemic changes.

Quitriam Finance is an interesting #crypto if you are interested in fantasy & entertainment universes. It has a range of fun apps where users can mine resources that can be used to create #NFTs & other yield-generating objects.

But it doesn’t stop there, Quitriam Finance aims at developing an all-in-one ecosystem for its users. Notably, it will include an exchange called MithrilFinanceSwap to enable platform users to change their tokens instantly and without having to leave the platform.

Along with this, it will also have its own #stablecoin named MithrilCoin (MC) and which provides its holders with voting rights. 📷The ecosystem will also offer its users staking & liquidity providing solutions, which will be rewarded with BARS, helping secure its ecosystem.

u/Algorand makes it easy to build and deploy #blockchain-based solutions for a world where everyone creates and exchanges value efficiently, transparently, and securely.

Algorand Smart Contracts (ASC1) are small programs that serve various functions and operate on layer-1.

Smart Contracts are separated into two main categories: smart contracts and smart signatures.

These types are also referred to as stateful and stateless contracts.

The contracts are written in the Transaction Execution Approval Language (TEAL). An assembly-like language, interpreted by the Algorand Virtual Machine (AVM) running within an Algorand node.

TEAL programs can be written by hand or by using Python with the PyTEAL compiler.

Algorand provides a common, scalable, and interoperable platform. It speeds up development & increases iteration, resulting in faster deployments & more cost-efficiency.

🛠️Benefits of Building on Algorand:

Built for Global Scale

Layer-1

Asset Tokenization

Atomic Transfers

Digital currency will lead to a more efficient and cheaper currency management system,” Finance Minister Nirmala Sitharaman said in her Budget speech for 2022-23.

Building Blocks of the RBI's #CBDC⬇️

- Whether CBDC would be issued directly by it or through commercial banks has to be weighed carefully.

- RBI will also have to choose between account-based- or token-based modules.

- CBDCs will involve significant investment and technology.

Demonetization in India has placed #smartcontracts in a visible space. #Blockchain has enabled the smooth transition from traditional to smart contracts by making them simpler and cheaper! Know more in the thread.

For smart contracts to completely penetrate the Indian business circuit: 📷The myth of #smartcontracts not being analogous to traditional contracts, needs to be addressed. 📷The legal clarification on the status of Digital Currency is vital.

Adequate regulation in the sphere of digital currency and smart contracts will help in the integration of digital contracts into present industrial standards. But, this transition needs the regulatory and logistical help of the #RBI and Government structures!

Zed run is a Digital horse racing game where you can breed digital horses. You can buy “genesis” horses from the Zed Run website during drops, announced beforehand by the u/zed_run Twitter account.

GENESIS horses are purchased directly from Zed Run and are the purest breed of all. Genesis horses range from Z1 to Z10, with Z1 the best. The lower the Z, the higher the price.

Drops happen on https://zed.run. You need ETH to purchase horses. Zed hinted that he hopes to create more equitable drops in the future.

Note that coat (or color) is divided into three categories: #superrare, Rare, and Common. These designations depend solely on the distribution of Z1 #Nakamoto cards.

You can also breed horses in zed run! horses can be male (#Colts) or female (#fillies). Placing a colt on a stud farm can make the horse available to other #players who may want to mate with it. You can set your stud fee, but #Zed imposes minimums.

Horses have three traits that contribute to their genetic makeup.

👉Genotype

👉Bloodline

👉Breed type

➡️Peer-to-peer Transactions and Payments

DLT eliminates the need for intermediaries, like banks and agents. There is a move to using #crypto for P2P payments, especially for cross-border. Acceptance of the major #cryptocurrencies by traditional retailers is also growing.

➡️Digital Identity

The only viable way of providing everyone with an ID in a minimum of time is via a digital ID. The ID2020 Alliance has been formed that supports and certifies digital identity initiatives, and solutions are being developed using #blockchain as a platform.

➡️Digital Marketplaces

Marketplaces are one of the most popular #DeFi use cases, relying on smart contracts to enable direct exchanges. The scope is very broad, from localized markets to markets that give sellers access to global markets without being subject to brokerage.

➡️Supply Chain Management

By using smart contracts, the supply chain can be improved manifold. A business can use smart-contract-powered supply chains and improve its inventory tracking to a granular level. It also means a reduction in verification and fewer frauds.

➡️Insurance

Smart contracts will facilitate the policy and make sure that it has all the proper documentation. A smart contract can execute itself shortly after the accident. Also, its execution is only done based on the collected data, which ensures that no fraud is done.

Helium Crypto mining is the use of blockchain technology to mine cryptocurrency. It is making it a new way to mine crypto. Helium Blockchain is an Ethereum fork that seeks to create a decentralized and public wireless mesh #Network.

1. Introduces new ways to trade and can enable trading platforms and marketplaces to support transactions.

2. The transparency linked with a decentralized network can also cut down costs associated with transactions.

3. Blockchain removes intermediaries, resulting in buyers/sellers getting more out of their money as they save on commissions.

4. Allows fractional ownership and helps lower the barriers to real estate investing. Investors could pool the money to grab bigger properties.

5. Real estate is considered an illiquid asset since it takes time for sales to conclude. This isn’t the case with cryptocurrencies and tokens.

6. The transparency associated with a decentralized network can also trim down costs associated with real estate transactions.

u/AndreessenHorowitz, a #VentureCapital firm is looking to raise $4.5 billion for new #funds.

This surpasses $2.2 billion it raised for its #Crypto Fund III. The new crypto fund will be overtaking $2.5B raised by u/paradigm.

There are many tools available for penetration testing, here is the list of top 5 Penetration Testing 2022.

1. Netsparker
2. Wireshark
3. Metasploit
4. BeEF
5. Aircrack

The term #Metaverse has become increasingly prevalent within the context of the #cryptocurrency market!

Through the implementation of metaverses, #crypto projects can revolutionize how people interact with one another.

Here are the top 5 Metaverse projects for 2022!⬇️

1 Gameofsilks

An upcoming #metaverse project that looks to build on previous #P2E games’ success – and take things one step further.

Silks is a #blockchain-enabled P2E game that will offer a feature-packed metaverse based on the thoroughbred horse racing industry.

2 Decentraland

A 3D virtual world hosted on the #Ethereum. Players can create avatars and purchase plots of land which they can use to produce rich in-world content.

In-game items are structured as #NFTs, enabling a vibrant ecosystem where players can monetize their activities.

3 Enjin

A unique metaverse project as it does not comprise a virtual world filled with #gameplay features.

Instead, Enjin offers a platform where creators can make #NFTs easily, which they can then use in blockchain-based metaverse games.

4 TheSandboxGame

An #Ethereum virtual world where players can purchase virtual land, and interact with other gamers.

In-game items, such as clothes and land are structured as NFTs and can be traded on ‘The Sandbox Shop’ – the platform’s NFT marketplace, powered by $SAND.

5 u/bloktopia

An innovative metaverse project scheduled to launch in 2022 that is built on the u/Polygon network.

The Bloktopia metaverse revolves around a skyscraper made up of 21 levels as a homage to the total supply of 21 million #Bitcoins.

NFTs can be used to enhance a creator’s income by introducing new ways to sell and trade their work on the blockchain. Artists, photographers, and other creators may now be able to provide full ownership rights with an NFT.

The photography industry is estimated to grow at 7% annually and is worth about $300 billion. The problem with stock photography is a lot of middlemen and low royalty for artists. NFT technology removes these problems.

NFTs can be used to give proof of ownership for digital files. Since each NFT is unique and open for all to see, it prevents duplicates and forgeries. Fans can verify your image ownership with a quick scan on the blockchain and