The crypto-verse is a decentralized platform that has a bright future for its users and investors, there are countless times development occurs on this network (times where a fork of a coin is launched or time where a new blockchain or token is developed or coin under a blockchain) and there is time the crypto-verse suffers a huge loss or hack.
Good time In the crypto-verse...
After the launch of Bitcoin, the era of the altcoins came to the limelight when litecoin was launched in 2011 by charlie lee, and other coins and tokens follow after the launch of the coin.
The launch of the first cryptocurrency and Satoshi's coin:Bitcoin.
Bitcoin also known as digital gold and the first-ever known digital decentralized coin on the crypto-verse with different aims like:
Feeless or low transactions fee i.e less than zero or absolutely zero ×××××××××× although it is aimed it could not achieve it
decentralization
Fast transactions
Secure transactions
But it could only achieve a few out of it as other tokens and coins are about achieving what Bitcoin could not.
The launch of the silver Bitcoin or silver cryptocurrency:Litecoin.
Litecoin is a p2p decentralized digital asset or currency that adorns fast payment and encryption and it is also known as the silver version of Bitcoin.
The main reason behind the launch of the litecoin was to achieve a mind-blowing development and goal that Bitcoin couldn't achieve and some of the aims of litecoin as a cryptocurrency include;
Decentralization.
fast, secure transactions and wallet encryption; before any transactions are made it requires the entry of biometrics or password.
Low transaction cost.
The launch of the digital cash in the crypto-verse:Bitcoincash.
Bitcoincash is peer-to-peer electronic cash or digital cash, a fork of Bitcoin and also a replacement for gold(Bitcoin), with a fixed supply of about 21million pieces.
Decentralization
Secure payments.
Low transactions fees.
Smart contracts thanks to smart bch project that opened hidden opportunities to Bitcoincash.
Wallet encryption.
Fixed supply, unlike real cash.
The launch of the world's first computer: Ethereum.
Ethereum is the first known world digital computer on the crypto-verse with mind-bursting features and also the first cryptocurrency with a smart contract with the main of introducing new opportunities to the crypto-verse, investors, game players, and many others.
Decentralization.
Smart contract features.
High fee transactions.
Gaming opportunities.
Nfts opportunities.
Wallet encryption
Dark times in crypto-verse
Since the launch of the crypto-verse itself, a lot of Intruders and scams have their way into this environment Examples are hacks in Defi, hacks in blockchain or reputable exchange platforms, and also crypto scams.
Scams in crypto-verse.
Some scams that are not believed to scam cause of the scammer's entry or enticing offers over 20million people fall victims to crypto scams due to eagerness to get rich quick overnight and some of the memorable scams in the crypto-verse includes;
Dogecoin scam
Squid game token and many more.
Hacks in crypto-verse.
From 2009 to date a large number of hacks were recorded in Defi and many other reputable platforms and this has affected many investors using these platforms.
List of hacks in 2021.
2021 is known for the highest record of hacks in the crypto-verse is time back. The list includes;
Hack in poly network- $610 million stolen in August 2021.
Hack in bitmart- $196 million was stolen in December 2021.
Box × highspeed (B×H)- $139 million was stolen in December 2021.
Vulcan forged- $135 million stolen in December 2021.
Cream finance- $130 million stolen in October 2021.
Badger dao - $120 million stolen in December 2021.
Liquid global- $97 million stolen in August 2021.
**Easy fi- $80 million stolen in April 2021.
Ascend EX- $77.7 million was stolen in December 2021.
Bzx-$55million stolen in November 2021.
December is known for the highesN3t record of crypto-hack in the history of the crypto-verse and Defi companies and affected companies are building stronger securities in bridges and blockchain to prevent future hacks.
Conclusion.
High protocols and encryption has been made in many Defi platforms to prevent simple hacks and more protocols would be made to prevent hacks in bridges.
Crypto-verse has recorded a lot of achievements and yet suffered a memorable loss most especially in 2021.
All information this article carries facts and more information about the topic.
The information is free from erotic content and all the information is used for the promotion of cryptocurrencies.
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