Connect with us

Bitcoin

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Published

on

Panther and BUMPER Protocol announce partnership to provide seamless DeFi user experience

Tortola, British Virgin Islands, 22nd October, 2021,

Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million via Initial DEX Offering (IDO) on two different launchpads – Genesis Pool and Lemonade. Transient ($TSCT) raised $1 million in an oversubscribed public sale on Genesis Pool and $200,000 via Lemonade. The Lemonade sale reached its $200,000 milestone in just 90 minutes!

Transient is building the “Amazon of smart contracts” – a global marketplace of decentralized applications (dApps) designed to help non-coders create smart contracts for specific use cases and industries. Individuals and businesses, even those with zero knowledge of coding, can use the relevant dApp on the marketplace to create self-enforcing and self-executing smart contracts.

Prior to the IDO public sale, Transient had raised $275,000 in a seed round that saw participation from Exit Forward — a venture capital firm supporting forward thinking projects — and a number of silent advisors. 

It had also raised $1.2 million in a private ($TSCT) token sale. Given the nature of the project, Transient decided to raise primarily from a group of individual investors rather than seeking greater participation from whales or prominent venture capitalists.

Speaking on the fundraising milestone, Transient Network CEO Beau Olson said, “After a long road to get here, we are absolutely thrilled and excited to have completed our private and public raises – with a number of keen investors and launchpads snapping up the opportunity to get in at the very beginning of our journey ahead – we particularly thank our seed investors Exit Forward and launchpad partners GPool and Lemonade. We at Transient can now focus on bringing the world our Smart Contract Global Marketplace, allowing coders and non-coders alike to leverage our smart contracts for anyone, anywhere, anytime.

Since the launch of Ethereum, smart contracts have become one of the biggest components of the blockchain space. But until now, only people with programming skills could take advantage of them. 

Transient believes that the benefits of smart contracts – immutability, transparency, speed, accuracy, and hyper-security – shouldn’t be limited to transactions and agreements between coders. Enabling non-coders to create and interact with smart contracts could drive blockchain adoption at the grassroots level. 

The first four dApps on Transient’s marketplace are:

  • TSC-Core: A standard smart contract creation and management app with features like transfer, deposit and digital signature.
  • CryptoPool: Enables users to create their own pools for crypto price predictions and share in the winnings. 
  • Esports: Builds an ecosystem of P2P market creation of your favorite competitions and a number of other services — taking social betting and content-driven experiences to the next level.
  • NDA: Lets users create smart contracts that make it easier to work with clients and partners. Transient’s legal advisors ensure the contracts are bulletproof within the legal landscape.

About Transient

Transient is a decentralized ecosystem that gives non-coders the ability to create and manage their own Next-Gen Contracts in the digital world. Its Smart Contract Global Marketplace is built from the ground up to increase blockchain adoption across every sphere of industry and life by hosting and enabling the instantaneous creation and distribution of a wide range of self-enforcing and self-executing Smart Contracts.

 For further information, visit: https://www.transientnetwork.io 

Contacts
google news [give_form id="136891"]
Advertisement

Bitcoin

Total Stablecoin Supply Surpasses $150 Billion in November

Published

on

Total Stablecoin Supply Surpasses $150 Billion in November
  • The most widely utilized stablecoins are dollar-pegged.
  • Stablecoins made it easy to transfer funds between crypto exchanges.

Stablecoins are crypto-equivalent to fiat currencies like the dollar or the rupee, and it had to be something that could consistently retain value over time and be readily transferred. For example, a system allows Bitcoin investors to convert their Bitcoin earnings to dollars immediately and subsequently invest or withdraw them to their bank accounts. So the stablecoin was created to overcome these difficulties.

Stablecoins are fantastic for trading since, unlike stock markets, crypto trades 24 hours a day, seven days a week. Suddenly, investors could ‘cash out’ and go to bed without worrying about their crypto investments. Stablecoins made it easy to transfer funds between crypto exchanges and avoid lengthy banking processes.

Stablecoins also allowed investors to maintain a portion of their crypto portfolio like cash, allowing them to buy whatever coin they wanted without relying on their banks’ servers, which were known to go down for maintenance.

Dollar-pegged Most Widely Used

Already valued at roughly $130 billion, the stablecoin market has doubled in the previous 20 months. Stablecoins are used in crypto trading and lending. Over 75% of all crypto trading platforms traded between stablecoins and other tokens in October while only making up 5% of all crypto assets. Stablecoin supply reached $150 billion in November, according to CryptoRank.io.

Because of the present financial system, the most widely utilized stablecoins are dollar-pegged. Many stablecoins are tied to other fiat currencies like the Euro, GBP, IMF’s SDR, commodities like gold, or even other cryptocurrencies such Wrapped Bitcoin.

Tether, for example, was created in 2014 as RealCoin. Tether’s supply is limited solely by declared dollar reserves.

google news [give_form id="136891"]
Continue Reading

Bitcoin

Elon Musk Joins To Alert Dogecoin Holders Regarding Leveraged Trading

Published

on

Elon Musk Joins To Alert Dogecoin Holders Regarding Leveraged Trading
  • Elon Musk warns Dogecoin holders regarding leveraged trading.
  • The newbies in the crypto industry should be aware of risks in trading.
  • The current price of DOGE is 72% lower than its ATH.

The whole crypto industry is fond of Elon Musk’s tweet on cryptocurrencies. Twitter users have a great talent for connecting tweets of Musk with the crypto space. Thus, if Musk tweets every trader will admit that he has posted regarding cryptocurrencies or meme-currencies. His support for meme-currencies was the trend for the past few days which significantly resulted in a huge gain for meme-tokens.

As a matter of fact, the crypto market faces many dangers and issues on leveraged trading. Likewise, Elon Musk, CEO of Tesla has warned the dogecoin holders by replying to a tweet posted by Mishaboar. The tweet mentions the hazards and disadvantages of leveraged Dogecoin trading, this has collected the attention of users.

After their margin accounts were liquidated, several meme cryptocurrency holders began seeking aid, according to Mishaboar. As a result, he emphasized the importance of educating individuals about high-risk leveraged trading, equating it to throwing gasoline on a fire.

Moreover, he also mentioned that early investors shouldn’t be fooled by their buddies to make them think that “gambling” is an integral part of crypto. Besides, only professional traders could take their turn at margin trading, according to the prolific member of the Dogecoin network. But the fact is, they are still left out to outperform major institutional players.

Dogecoin Is Dipping

At the time of writing, the trading price of DOGE is $0.20057 which is 72% lower than its highest price value at $0.7315 in mid-May. Since then, Dogecoin has been experiencing a sell-off which has resulted in a gradual price fall. As per Coingecko, Dogecoin has dropped to 3.8% within the last 24-hours and 14.5% down in a week. 

Furthermore, according to the data from Coinglass, in the past 24-hours, $1.88 million worth of Dogecoin yearns have been liquidated. The market experiences more regulatory scrutiny where Binance and FTX were compelled to drastically cut maximum leverage earlier this year. However, there is still a slew of trading platforms that allow clients to place incredibly dangerous trades. As a result, Musk urges his followers to be aware of risks in leveraged trading.

google news [give_form id="136891"]
Continue Reading

Bitcoin

Hackers Are Now Using Compromised Cloud Accounts To Mine Crypto

Published

on

Google cloud crypto hack

Attackers are exploiting poorly configured cloud accounts to mine crypto, Google warned users in a recent report.

Cryptocurrency mining is a computationally intensive activity. And Google Cloud customers can access it at a cost. However, miners are now hacking Google Cloud accounts for mining purposes.
In the report titled “Threat Horizons,” Google’s cybersecurity team assessed various threats to Cloud users, providing details of the breaches.

Related Reading | Data Shows Crypto Hacks And Fraud In 2021 Are On Track For A New Record

The report also provided cybersecurity threat intelligence to cloud users. The aim is to enable them “better configure their environments and defenses in manners most specific to their needs.”

Crypto Miners Hacking Google Accounts

In the report, the cybersecurity team analyzed 50 recently compromised Google Cloud accounts. And out of those, 86% were related to crypto mining. “Malicious actors were observed performing cryptocurrency mining within compromised Cloud instances,” Google wrote.

Related Reading | Ethereum Miner Revenue Outpaces Bitcoin In 2021

The report also stated that in the majority of these incidents, the hackers downloaded crypto mining software to the compromised accounts within 22 seconds. The attacks were scripted, and it would have been impossible to manually stop them. Additionally, in 10% of these incidents, the hackers scanned other publicly available resources on the Internet to identify vulnerable systems. While in 8% of the instances, they attacked other targets.

However, as reported by the cybersecurity team, the crypto mining hacks were not the only attacks.

“The cloud threat landscape in 2021 was more complex than just rogue cryptocurrency miners, of course,” wrote Bob Mechler, Google Cloud Director of the office of the Chief Information Security Officer, and Seth Rosenblatt, Google Cloud Security Editor, in a blog post.

Other Threats To Google Cloud Users

Another threat the team identified was a phishing attack by the Russian group called APT28, or Fancy Bear. The attackers targeted 12,000 Gmail accounts in a mass phishing attempt. They attempted to trick users into handing over their login details. Google, however, said it had blocked all the phishing emails, and no user was compromised.

The report also pointed out an attack by a North Korean government-backed group. This hacker group posed as Samsung recruiters, sending fake job opportunities to employees at South Korean information security companies. They attached a malicious link to malware stored in Google Drive. Google said it also blocked it.

Another threat to cloud users is ransomware attacks, whereby hackers encrypt users’ data until they pay. In the report, Google mentions the formidable Black Matter ransomware group. And although the group announced that it was shutting down earlier this month, Google is still cautious. “Google has received reports that the Black Matter ransomware group has announced it will shut down operations given outside pressure. Until this is confirmed, Black Matter still poses a risk.”

Total crypto market at $2.4 Trillion | Source: Crypto Total Market Cap from TradingView.com

Google attributes some of these attacks to users’ poor security practices. And also vulnerabilities in third-party software that the users install.

The report also recommends a few ways to prevent these attacks. One of which is enabling two-factor authentication.

Featured image by Dreamstime, Chart from TradingView.com
google news [give_form id="136891"]
Continue Reading

Trending