Masters of the Blockchain: MakerDAO Announces $10 Million White Hat Hacker Bounty Program; BTC and Ethereum February 2022 Updates

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makerdao update

You might not know it yet, but if you’re not paying attention to the latest news in digital currencies, you’re missing out on the most exciting time to invest. 

With a massive increase in popularity and application of new technology, we’ll give you a rundown of all the latest crypto news from Ethereum, Bitcoin and MakerDAO that will get your juices flowing! 

MakerDAO Analysis

MakerDAO offers $10 million in bonuses for white hat hackers and cybersecurity professionals who find legitimate security threats in their smart contracts.

White hat hackers and cybersecurity professionals who discover legitimate security flaws in their smart contracts will be eligible to receive bonuses of up to $10 million from MakerDAO.

The maker website claims the flaws it found prevented up to $20 billion from being damaged from the attacks. White hat hackers can receive payments of $1,000 for low-level vulnerabilities and up to $10 million for critical vulnerabilities in maker apps and smart contracts. Payments are made in stablecoin DAI.

Bitcoin Analysis

During a recent interview, Fidelity Investments’ Director of Macroeconomics, Jurrien Timmer said the price of Bitcoin (BTC) will increase exponentially as the number of users grows.

Bitcoin’s overall network effect is similar to Apple computers’ network effect. As Apple’s sales increase, its stock price increases exponentially, and Bitcoin follows the same path. So I think bitcoin will definitely explode as demand increases.”

He said that Bitcoin is in a class of its own, unlike other crypto assets.

I believe that Bitcoin is a store of value like gold. Other digital assets may do better because they are more scalable, but less decentralized. This is why I see Bitcoin as a venture asset class.

Timmers said Bitcoin is now at the same level as gold was in the 1970s, when the price of the precious metal fluctuated wildly.

“I think of bitcoin like gold did in the 1970s. Gold went from money to an asset. And it went through price discovery. Before that, gold was very volatile, it went up a lot, but it also went down a lot. Bitcoin is doing the same thing. “

Ethereum Analysis

Data from IntoTheBlock indicates that the number of addresses has reached a new ATH with 0.1 to 1 ETH. The growing number of relatively small wallets is one of many signals that Ethereum has the potential to become a mainstream investment.

An impressive 98% increase has occurred in the number of small Ethereum addresses since the beginning of 2021. These addresses hold a total of 1.78 million ETH.

Via this site.

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