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ZetaChain Hack Forces Shutdown of Cross-Chain Transfers, Token Slides
ZetaChain halts cross-chain transfers after exploit targets critical GatewayEVM contract Internal wallets hit as vulnerability allows unauthorized cross-chain calls execution ZETA token drops as trading volume declines following network disruption ZetaChain suspended cross-chain transfers after a contract exploit disrupted operations and triggered losses within internal wallets managed by the…
ZetaChain Mainnet Faces Four-Hour Block Production Halt Due to Consensus Failure After Update
The ZetaChain mainnet experienced a significant outage, halting block production for four hours after a software update triggered a consensus failure. Block production stopped at block 5,529,896, which recorded the last transaction before the network interruption, according to ZetaScan data. The ZetaChain team quickly identified the issue, attributing it to a consensus breakdown linked to their…
OKX Pivots from Mining Pool Operations to Embrace DeFi Through ZetaChain Jumpstart
OKX, a key player in the cryptocurrency exchange realm, is making strategic shifts in response to regulatory changes, environmental concerns, and a priority shift toward market stability. In a significant move, the exchange is discontinuing its mining pool services starting from February 25th, 2024, as it repositions itself to focus on emerging technologies and decentralized finance (DeFi). The closure follows the introduction of ZetaChain (ZETA) in January 2024, aligning with DeFi trends and cross-chain interoperability.
The decision to exit proof-of-work (PoW) mining reflects the broader industry trend where PoW faces increased scrutiny, and proof-of-stake (PoS) gains momentum. This move signifies a departure from OKX's initial emphasis on serving crypto miners in China, a strategy reconsidered following the Chinese government's crypto crackdown in 2021 and the diminishing interest in PoW mining due to its environmental impact.
In the aftermath of a flash crash involving its native OKB token, OKX is doubling down on risk management and market stability. The exchange aims to optimize various aspects, including spot leverage gradient levels, pledged lending risk control rules, and liquidation mechanisms, to prevent similar incidents in the future.
SocialScan x ZetaChain: Making Blockchain Exploration Easier for Developers
SocialScan is dedicated to providing a superior alternative to existing blockchain explorers. Emphasizing cost-effectiveness, speed, and enhanced user experience, the goal is to make development on ZetaChain both intuitive and developer-friendly. This collaboration is not just about creating a new-look blockchain explorer; it’s about significantly improving its technical performance.
The ZetaChain Athens Explorer is currently available on the ZetaChain testnet and will soon be launched on the mainnet.
Users can explore ZetaChain Athens Explorer here.
Alex Niu, Co-Founder & CRO of SocialScan, remarked: “SocialScan is proud to have supported ZetaChain in rapidly developing a versatile and reliable block explorer. This partnership has allowed us to expand our feature set and improve data delivery, showcasing our commitment to technological innovation and partner support.”
Jonathan Covey, Head of Community at ZetaChain, stated: “Our partnership with SocialScan is crucial for ensuring the ecosystem can always access and depend on a scalable block explorer. Further, the SocialScan team is really innovating around the category of explorers itself — integrating all sorts of real time social and community data that so many web3 projects struggle to make sense of in one place.”
Looking Ahead
As we embark on this new era of blockchain innovation, the collaboration between SocialScan and ZetaChain marks a turning point in the industry. This alliance is more than a partnership; it’s a fusion of expertise and vision, setting new standards in blockchain usability and developer support. By bridging technological gaps and fostering a community-centric approach, we are not just simplifying blockchain technology but also catalyzing its adoption across diverse sectors.
The future is bright, and we are at the forefront, shaping an ecosystem where technology meets practicality, and innovation serves community needs. This is just the beginning of a journey towards a more interconnected and efficient blockchain world.
About SocialScan
SocialScan is a revolutionary blockchain explorer built by W3W.ai. It offers a cost reduction of over 20X and a deployment time that is more than 10X faster, all while maintaining the highest level of performance. This efficiency and cost-effectiveness particularly benefit developers working with rollup and application-specific blockchains. SocialScan currently supports a diverse and growing list of ecosystems, including Ethereum, Polygon, Mantle Network, Linea, Arthera, ZetaChain, Manta Network, Immutable, among others.
The platform is the brainchild of a team of data and AI experts, whose core members boast years of experience at world-leading institutions such as Stanford University, Google, Binance, TikTok, Meta, CMU, Cornell, Tsinghua, NTU, and USTC.
Website | Twitter | Telegram
About ZetaChain
ZetaChain aims to be the only blockchain you’ll ever need. It is a layer 1 blockchain and developer platform that connects any L1 and L2, from Ethereum to Bitcoin and beyond. Access all of crypto in one place, as a developer or user. With ZetaChain’s complete Omnichain toolkit, developers can build true omnichain dApps from a single point of logic, and users can access all of their assets, data, and liquidity in a single place, securely.
Follow ZetaChain on Twitter @zetablockchain and join the conversation on Discord and Telegram. Reach out to [email protected] if you’re building on top of ZetaChain.
SocialScan x ZetaChain: Making Blockchain Exploration Easier for Developers
SocialScan is dedicated to providing a superior alternative to existing blockchain explorers. Emphasizing cost-effectiveness, speed, and enhanced user experience, the goal is to make development on ZetaChain both intuitive and developer-friendly. This collaboration is not just about creating a new-look blockchain explorer; it’s about significantly improving its technical performance.
The ZetaChain Athens Explorer is currently available on the ZetaChain testnet and will soon be launched on the mainnet.
Users can explore ZetaChain Athens Explorer here.
Alex Niu, Co-Founder & CRO of SocialScan, remarked: “SocialScan is proud to have supported ZetaChain in rapidly developing a versatile and reliable block explorer. This partnership has allowed us to expand our feature set and improve data delivery, showcasing our commitment to technological innovation and partner support.”
Jonathan Covey, Head of Community at ZetaChain, stated: “Our partnership with SocialScan is crucial for ensuring the ecosystem can always access and depend on a scalable block explorer. Further, the SocialScan team is really innovating around the category of explorers itself — integrating all sorts of real time social and community data that so many web3 projects struggle to make sense of in one place.”
Looking Ahead
As we embark on this new era of blockchain innovation, the collaboration between SocialScan and ZetaChain marks a turning point in the industry. This alliance is more than a partnership; it’s a fusion of expertise and vision, setting new standards in blockchain usability and developer support. By bridging technological gaps and fostering a community-centric approach, we are not just simplifying blockchain technology but also catalyzing its adoption across diverse sectors.
The future is bright, and we are at the forefront, shaping an ecosystem where technology meets practicality, and innovation serves community needs. This is just the beginning of a journey towards a more interconnected and efficient blockchain world.
About SocialScan
SocialScan is a revolutionary blockchain explorer built by W3W.ai. It offers a cost reduction of over 20X and a deployment time that is more than 10X faster, all while maintaining the highest level of performance. This efficiency and cost-effectiveness particularly benefit developers working with rollup and application-specific blockchains. SocialScan currently supports a diverse and growing list of ecosystems, including Ethereum, Polygon, Mantle Network, Linea, Arthera, ZetaChain, Manta Network, Immutable, among others.
The platform is the brainchild of a team of data and AI experts, whose core members boast years of experience at world-leading institutions such as Stanford University, Google, Binance, TikTok, Meta, CMU, Cornell, Tsinghua, NTU, and USTC.
Website | Twitter | Telegram
About ZetaChain
ZetaChain aims to be the only blockchain you’ll ever need. It is a layer 1 blockchain and developer platform that connects any L1 and L2, from Ethereum to Bitcoin and beyond. Access all of crypto in one place, as a developer or user. With ZetaChain’s complete Omnichain toolkit, developers can build true omnichain dApps from a single point of logic, and users can access all of their assets, data, and liquidity in a single place, securely.
Follow ZetaChain on Twitter @zetablockchain and join the conversation on Discord and Telegram. Reach out to [email protected] if you’re building on top of ZetaChain.
