According to Cointelegraph, Dominic Williams, founder and chief scientist at the Dfinity Foundation, emphasized the need for decentralized applications to operate entirely onchain to prevent vulnerabilities like those exposed in the recent Bybit hack. Williams highlighted that while many blockchain projects incorporate onchain tokenomics, they often depend on centralized web services such as Amazon Web Services for infrastructure, which exposes them to potential security breaches. He stated that the primary advantage of blockchain technology is its ability to ensure that the software logic runs accurately against the correct onchain data, a guarantee not provided by traditional IT systems. Williams expressed concern that the industry has deviated from its original path by labeling projects as onchain despite their reliance on centralized services due to associated tokens. He advocated for code updates to be managed through decentralized autonomous organizations (DAOs) with community oversight, rather than being controlled by individual developers. The Internet Computer Protocol, maintained by the Dfinity Foundation, supports hosting entire applications onchain via smart contracts to maintain data integrity during updates. The financial repercussions of centralized security breaches were also addressed by Williams, who pointed to the $1.4 billion Bybit hack as a significant factor impacting the crypto markets. He noted that the state-sponsored Lazarus Hacker group is proficient in laundering funds, which are then diverted from the crypto markets into other economic sectors, contributing to market instability. This incident, according to Williams, is a key reason for the current decline in cryptocurrency prices. Following the Bybit hack, the total cryptocurrency market capitalization dropped significantly, falling from approximately $3.62 trillion in January 2025 to $2.8 trillion. This decline is attributed to the hack, which is the largest in crypto history, coupled with macroeconomic uncertainties and diminishing investor confidence in the emerging asset class. Bohdan Opryshko, Everstake’s chief operating officer, also noted that the hack has led institutional stakers to shift away from centralized platforms due to heightened cybersecurity concerns.

Blockchain tracking firm Lookonchain says one crypto trader is looking at multi-million dollar losses after trading the official memecoin of Melania Trump, wife of US President Donald Trump. According to Lookonchain, the trader scooped up nearly 14 million Melania (MELANIA) last month for about $30 million, only to sell off all his holdings this week […] The post Whale Dumps Entire Stash of US... source: https://dailyhodl.com/2025/02/28/whale-dumps-entire-stash-of-us-first-lady-melania-trumps-official-memecoin-at-15680000-loss-lookonchain/

The Bitcoin market in early 2025 showed signs of a potential shift, with key trends hinting at critical support levels and opportunities for traders. source: https://ambcrypto.com/bitcoin-why-traders-must-watch-out-for-96895-if-a-btc-rebound-occurs/

The iconic rapper shakes hands with Hedera’s Tune.FM, setting the Web3 music platform’s native token on fire. source: https://dailycoin.com/snoop-dogg-joins-hbar-network-on-tune-fm-jam-jumps-222/?utm_source=cryptopanic&utm_medium=rss

Decentralized projects must stop relying on centralized infrastructure and take full advantage of blockchain’s robust security features, according to Dominic Williams. source: https://cointelegraph.com/news/onchain-ui-would-prevent-bybit-hack-dfinity?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Tesla CEO Elon Musk has warned traders against betting their life savings on meme coins source: https://u.today/elon-musk-lambasts-memecoins-its-like-casino-or-something

A widely followed crypto analyst says that smart contract platform Ethereum (ETH) appears close to bottoming out against Bitcoin (BTC). In a new video update, crypto strategist Benjamin Cowen tells his 877,000 YouTube subscribers that the ETH/BTC pair will likely find its cycle low under 0.017 ($2,181) sometime near the end of the year. “ETH/BTC […] The post Ethereum Is Getting Pretty Close to... source: https://dailyhodl.com/2025/02/28/ethereum-is-getting-pretty-close-to-bottoming-out-against-bitcoin-warns-crypto-analyst-benjamin-cowen/

Ukrainian President Volodymyr Zelenskyy stormed out of the White House on Friday afternoon, leaving behind a collapsed minerals deal and a war still raging in Ukraine. What was supposed to be a high-stakes negotiation with President Donald Trump turned into an explosive clash in the Oval Office, ending with Zelenskyy walking out and Trump making […] source: https://www.cryptopolitan.com/trump-kicks-ukraines-president-zelenskyy-out-of-the-white-house-with-no-rare-earths-deal/

Solana outperformed most cryptocurrencies Friday as most cryptocurrencies sank further into negative territory. source: https://zycrypto.com/solana-price-rise-defies-broader-crypto-slump-as-cme-group-confirms-launch-date-for-sol-futures/

The company’s Circom technology has been tested by Deutsche Bank and HSBC, among others. source: https://cointelegraph.com/news/world-competitor-billions-network-launches-non-biometric-digital-id?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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