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Tag: DeFi

DeFi is short for decentralized finance that includes digital assets, protocols, smart contracts, and dApps built on blockchain.

The biggest hack in DeFi history

The biggest hack in DeFi history

This week, hackers stole about $600 million worth of cryptocurrency from a Decentralized Finances (DeFi) network that specialized in enabling users to move digital assets linked to one blockchain to another. PolyNetwork, a multi-chain interoperability technology, is at the heart of one of the largest hacking attacks in history. PolyNetwork connects several of the world’s leading digital ledgers and blockchains, but it revealed on...

Cryptocurrencies, DeFi, Featured, Main, News

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Burned

When cryptocurrency tokens or coins are purposefully and indefinitely withdrawn from circulation, they are referred to as “burned.” Often blockchain networks use the mechanism of “burning” tokens to encourage network users to buy and invest in protocol-specific tokens. Burning tokens reduces the cumulative total token supply, potentially raising the value of the underlying commodity, which is typically used as a...

DeFi, Glossary

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