ChainCatcher news, Bankless founder David Hoffman posted on the X platform stating: "The independent validator community is the ultimate line of defense for network security. The self-sovereignty of the network is related to its commitment to independent validators. Ignoring independent validators in 'good times' is a luxury (referring to the larger number of independent validators when the market is doing well), but in 'bad times' it will cost us (referring to the reduced number of independent validators when the market is doing poorly, which in turn affects the ecological network security)."

ChainCatcher news, according to Coindesk Japan, RedStone co-founder and COO Marcin Kaźmierczak stated that with the rise of liquid staking derivatives, there is a need to more accurately quantify the staking yields of various platforms and their trends. Kazmierczak emphasized that using standardized on-chain Ethereum Comprehensive Staking Rate (CESR) oracle data sources as a benchmark is crucial for systematically analyzing staking trends. He further pointed out that accurately quantifying staking trends not only helps assess their impact on network security and token economics but also provides Ethereum holders with strategic insights for generating additional yields.With innovations such as Staking-as-a-Service, Pooled Staking, and liquidity re-staking driving the rapid popularization of staking services, data shows that as of July 2024, the Ethereum network security budget has reached $110 billion, accounting for 28% of its total supply. The staking feature is widely used in exchanges and financial applications, attracting holders to participate in network security maintenance. Ethereum co-founder Vitalik Buterin has also partially staked his holdings.

ChainCatcher message, in response to the community's recent concerns about the "increase in token supply," Self Chain founder and CEO Ravindra Kumar posted on the X platform addressing the doubts and FUD faced after the project's migration from FRONT to SLF.Kumar emphasized that Self Chain is not a new team taking over, but rather the original team has undergone a strategic transformation, expanding from a wallet project to a Layer 1 blockchain based on Cosmos-SDK. Regarding the increase in token supply, Kumar explained the distribution of the total supply of 360 million: 36 million permanently locked for foundation nodes, 90 million migrated from FRONT to SLF, 10 million allocated to new investors as validators (18-month lock-up period), 36 million allocated to equity investors (36-month lock-up period), 30 million allocated to the core team (6-year lock-up period), and 68 million for the ecosystem (released at 1.5 million per month).Kumar stated that the increase in supply aims to enhance network security, prevent 51% attacks, and attract more investors and validators to participate.

ChainCatcher news, Casper Network released a preliminary report on the security incident from July 26, in which a total of 13 accounts were found to have security vulnerabilities, with an estimated total of illegal transactions amounting to approximately $6.7 million. Unauthorized access was due to a vulnerability that allowed attackers to gain higher access to resources through a privilege escalation flaw. It is noteworthy that this is unrelated to the platform's architecture or consensus mechanism. The Casper Association took immediate action to mitigate further risks.Casper Network stated that the Casper Association is working directly with the affected parties and expects to recover a significant amount of funds, and will implement further compensation procedures to address any potential shortfalls. As the authorities' investigation is not yet complete, no further comments can be made at this time. More information will be shared when available. Validators will hold a meeting on Wednesday, July 31, 2024, at 14:00 UTC. Details of the upgrade will be provided during that meeting. Once the validators accept the upgrade, they will immediately resume consensus and block production.

ChainCatcher news, Coinbase's L2 network Base paused block production at 5:26 AM Beijing time. About half an hour later, the team announced that a fix had been deployed and block production was restored. At 6:39 AM Beijing time, the team stated that RPC issues were still being found on the mainnet and they were working hard to fix them. At 7:06 AM Beijing time, the team reported that they had verified the network health and the recovery of the RPC API, and they would continue to monitor to ensure stability.

ChainCatcher news, Vietnam's cybersecurity and high-tech crime prevention department is investigating Pi Network due to its "complex business model." Vietnamese officials are questioning whether Pi Network may be involved in illegal activities such as defrauding citizens or data collection. (Source link)

ChainCatcher news, according to The Block, the blockchain network security platform Ironblocks has completed a $7 million seed round financing, led by Collider Ventures and Disruptive AI, with participation from Samsung Next, Quantstamp, and ParaFi. Individual investors include former Coinbase CTO Balaji Srinivasan and Simplex co-founder Nimrod Lehavi. Ironblocks' co-founders Or Dadosh and Assaf Eli previously worked on the Bancor team, and Ironblocks aims to support the inspection of activities across multiple protocols or applications. (source link)