News of cryptocurrencies of the 1st week of March 2023

Account abstraction: Ethereum has a new technology

Ethereum has a new technology that allows you to create abstract accounts. This technology will allow users to manage their assets more flexibly and protect their privacy. An abstract account is an unusual concept that differs from the traditional idea of an Ethereum account. Instead of using addresses and secret keys, an abstract account has a code that defines the logic for accessing assets.

In this way, users can create more complex access rules, such as asset access conditions based on time, location, or other factors. In addition, an abstract account can be configured to hide information about the owner of the asset, which increases privacy. This new technology opens up new opportunities for asset management in Ethereum, and represents an important step in the development of smart contracts. Abstract accounts are expected to be widely used in the future Ethereum blockchain and other decentralized applications.

Mistake at the cost of 2 million USDC

Recently, a new fraud scheme has become increasingly popular. Fraudsters send transactions with small amounts to addresses that are similar to those that the user recently sent transactions to. For example, a user sent a transaction for 100 USDT to a certain address and immediately received a transaction of 0.0001 USDT from a similar address. Fraudsters hope that the user will be inattentive next time and copy the address from the last transaction for the next shipments.

A crypto user fell for a similar trick of scammers and lost 2,030,000 USDC. He first sent 10 USDC to the correct address for verification. Immediately, he received 3 phishing transactions from similar addresses from scammers. As a result, he sent the next transaction in the amount of 2,030,000 USDC to one of these phishing addresses. The probability that the user will be able to recover these funds, or at least part of it, is very small.

Anyone can make a mistake, even the most experienced user of cryptocurrencies. Fraudsters come up with new ways to receive funds every day, most of these methods are designed solely for inattention. Be careful and vigilant when copying addresses, be sure to check them before sending transactions.

The popularity of the Lightning Network is growing

The Lightning Network is a scalable layer 2 network for Bitcoin and other cryptocurrencies that enables fast and low-fee microtransactions without burdening the main blockchain network. Over the past years, the Lightning Network has become increasingly popular among Bitcoin users, and today over 25,000 nodes use it to process payments. The rise in popularity of the Lightning Network is due to its efficiency and cost-benefit to users, as well as technological improvements that have been made to the network in recent years. The Jack Dorsey Company recently announced the launch of a Lightning Network (LN) micropayment ecosystem development unit called c=., and Xapo Bank has built the Lightning Network into its products.

BUSD capitalization fell below $10 billion

Binance USD capitalization on Friday fell to $9.5 billion. For the first time since June 2021, the circulating supply of BUSD fell below $10 billion. Demand for BUSD has been declining rapidly since Paxos announced on Feb. 13 that it will stop issuing new BUSD tokens, citing orders from the New York City Department of Financial Services (NYDFS) government regulator. The US Securities and Exchange Commission (SEC) was reportedly preparing to sue Paxos for offering unregistered securities. This week, Coinbase announced that it will suspend BUSD trading on the platform from March 13th. Coinbase CEO Brian Armstrong cited liquidity issues with the delisting of the stablecoin.

BTC fell below $22,000

On March 3, the price of Bitcoin fell below the $22,000 mark. Over the past 24 hours, the price of Bitcoin has decreased by 4.5%, which was the result of a correction after a sharp increase in the prices of cryptocurrencies earlier this week. Currently, Bitcoin is trading near the $22,400 mark. According to experts, the Bitcoin price was influenced by the decision of Silvergate Capital Corporation to shift the deadline for submitting a report to the US Securities and Exchange Commission and the increased attention of regulators to the industry.

New article by Vitalik Buterin

Vitalik Buterin wrote an article in which he talks about his personal user experiences in various blockchain applications. He discusses the problems that users face, such as high fees and complex interfaces, and suggests some solutions to improve the user experience.

He also discusses his experience with decentralized finance applications such as decentralized exchanges and lending protocols and points out their advantages and disadvantages. He also emphasizes the importance of education for users so that they can use blockchain technologies more consciously. Overall, Vitalik Buterin's article provides valuable user input and suggests ways to improve user experience in blockchain applications.

UK Universities Offer Blockchain Courses

UK universities have begun offering new courses on blockchain and cryptocurrencies to educate students about the technologies behind digital currencies. These courses will include studying the technical aspects of the blockchain, as well as the economic and social implications of its application.

The instructors say the courses will provide students with the practical knowledge and skills needed to work with blockchain and cryptocurrencies in various fields, including business, finance and technology. It can also help graduates gain a competitive edge in the job market as blockchain technologies become more widespread and in demand across industries. This move reflects the growing interest in blockchain and cryptocurrencies in the global economy, as well as the growing need for qualified professionals who can work effectively with these technologies.

The second fashion week will be held in the Decentraland metaverse

The Decentraland metaverse will host the second Fashion Week, which will run from February 28 to March 6. During this week, users will be able to watch fashion shows, participate in events and purchase virtual clothing and accessories. The organizers promise that this year's event will be even more interesting and exciting than last year. The Fashion Week program will also include blockchain startups and projects using augmented reality and virtual reality technologies.

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