👷 Ethereum PoW fork price dunks more than 50% not too long after launch

👷 Ethereum PoW fork price dunks more than 50% not too long after launch 🔥 Acala Network breach causes $aUSD to depeg 💊 Monero's successful protocol update: privacy and security enhanced

GM, vEmpions! Our motto for the day is: "When in doubt, take a break!"

We all know that feeling when you're just not sure what to do next. You've been staring at the blank screen for what feels like forever, and your mind is just blank. Well, we're here to tell you that it's totally ok to take a break. Read about some of the recent happenings in the space:

👷 Ethereum PoW fork price dunks more than 50% not too long after launch 🔥 Acala Network breach causes $aUSD to depeg 💊 Monero's successful protocol update: privacy and security enhanced

vEmpire just opened its first USDC stablecoin staking pool… don’t miss out on this great opportunity, start earning passive income https://app.v-empire.io/ (make sure your wallet is on the BSC chain).

Ethereum PoW Fork price dunks more than 50% not too long after launch

The ETHPoW (IOU) token, which was created in order to counter Ethereum’s future transition to proof-of-stake, has seen its price drop by over 50% in less than a week. This is likely due to the lack of support for the fork, as most people seem to be content with the proof-of-stake.

The token was created as a way to keep the proof-of-work system alive, but it appears that most people are not interested in using it. This is likely because proof-of-stake is seen as a more efficient and secure system, and there is no need to keep the old system alive.

The new ETHPoW project was supposed to be a big deal. But it quickly fizzled out, losing much of its value since its all-time high. So much for that!

But don't worry, ETH is still doing fine. It surged quite a bit in the past week, thanks to positive news. So ETH holders can rest easy knowing that their investment is still doing well.

Acala Network breach causes $aUSD to depeg

The decentralized finance hub of Polkadot, Acala Network, has been breached and its stablecoin depegged from the dollar mark. Acala's aUSD stablecoin has dropped below the $1 mark. This has caused quite a stir among investors and crypto enthusiasts alike. At one point, the stablecoin even dropped to a low of $0.58.

Acala's Twitter page posted yesterday that it noticed configuration issues regarding the Honzon protocol, which affects its stablecoin aUSD. As a result, a vote was taken to pause operations on Acala while investigations are underway.

This is yet another example of the fragility of decentralized finance protocols and the risks associated with investing in them. We urge caution to all our readers who are considering investing in these high-risk ventures.

The team has not yet confirmed the exact amount that was stolen, but Binance CEO Changpeng Zhao believes it could be "over a billion $aUSD." This is a huge blow to the young DeFi platform, and yet an another example of the fragility of decentralized finance and the risks associated with investing in them. We urge caution to everyone who are considering investing in these high-risk ventures.

Monero's successful protocol update: privacy and security enhanced

After months of anticipation, Monero finally executed its protocol update. The hard fork was a success, thanks to the collective effort of more than 70 developers.

The update included several important privacy and security features, which are sure to improve the network's overall functionality.  Among these features are fixes to the internal multi-signature mechanism, which will make it easier for wallets to exchange information and stay synchronized.

When it comes to security, the Monero bulletproof algorithm was upgraded to bulletproof+, a zero-knowledge proof algorithm implemented in 2018. This reinforces the network's privacy by hiding the exact amounts of transactions and only showing the origin and destination of the transactions. So now, not only is your data protected from third-party snooping, but also from anyone trying to do a forensic analysis of the Monero blockchain.

In these times when privacy-oriented projects are being constantly under pressure from the governments, it's reassuring to know that Monero is constantly evolving and working to improve its already impressive privacy features.

Overall, the hard fork was a success, and Monero is now better positioned than ever before to provide its users with the highest level of privacy and security. So congratulations to the Monero team, and keep up the good work!