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BTC $67,894.85 -0.43%
ETH $1,962.82 -0.68%
BNB $620.17 -1.65%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $572.41 +0.44%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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StarkWare CEO proposes a five-step action plan, calling for the crypto industry to address the potential threats of quantum computing

StarkWare CEO Eli Ben-Sasson spoke on X about the potential impact of quantum computing on the crypto industry, calling for a proactive deployment of post-quantum security upgrades across multi-chain ecosystems, including Bitcoin, and proposed a five-step action plan:Acknowledge the threat and clearly recognize that once quantum computers mature, they will pose a severe challenge to the existing public key cryptography system, and take decisive action to implement countermeasures.Enhance education and information dissemination, systematically learn about the current state of quantum computing development and feasible solutions in post-quantum cryptography (PQC), and spread relevant knowledge within the community to raise overall awareness.Organize and invest resources to support and collaborate with post-quantum cryptography experts, promote multiple research and engineering practices, and provide funding and community initiative support for related projects.Listen to expert advice and establish standards, with experts proposing specific technical routes, including the selection of new signature algorithm standards and the reasonable post-quantum security levels required for hash functions.Promote protocol and infrastructure upgrades, introduce new quantum-resistant signature mechanisms at the core protocol layer, and ensure compatibility and integration with key infrastructures such as wallets to ensure a smooth transition.

Bithumb's market share has dropped to 24.8%, and the gap with Upbit has widened after the end of the zero-fee promotion

The South Korean cryptocurrency exchange Bithumb has continued to face pressure on its market share following the "Bitcoin Misallocation Incident." Data shows that as of last Friday, Bithumb's trading share among the five Korean won-denominated exchanges in South Korea dropped to 24.8%, significantly down from about 30% at the beginning of the year. Industry data indicates that Upbit remains in the lead with a 58.4% share, Coinone accounts for 13%, Korbit for 3.5%, and Gopax for 0.3%.On February 6, Bithumb mistakenly distributed 2,000 bitcoins worth 2,000 won (approximately $1.38) to some users during a promotional event, totaling an erroneous distribution of about 620,000 BTC, far exceeding its previously disclosed holding of 42,800 coins, raising doubts about its internal controls and financial management capabilities. The day after the incident, its market share fell from 31.5% on January 5 to just over 20%. To stabilize the situation, Bithumb implemented a one-week zero-fee promotion for all cryptocurrencies starting February 9, which temporarily boosted trading, and on February 10, its market share briefly rebounded to 31.5%. However, following the end of the promotion on February 16, the share quickly declined. Meanwhile, competitors have clearly benefited. Coinone's share has doubled compared to a month ago, and Korbit's trading volume has increased by about 12.5 times, driven by expectations surrounding Mirae Asset Financial Group's acquisition of a 92% stake. Upbit is advancing a comprehensive share swap plan with Naver Financial, while Gopax has been acquired by Binance, potentially reshaping the landscape of Korean exchanges.
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