Gate.io Blog 0606 Daily Flash | BAYC exists the risk of unlimited additional issuance；Vitalik Buterin opposes prohibition of PoW

0606 Daily Flash | BAYC exists the risk of unlimited additional issuance；Vitalik Buterin opposes prohibition of PoW

06 June 11:41

Today's Topic - Foobar, the crypto developer: Bored Ape has the risk of unlimited additional issuance

According to Foobar, a crypto developer, on his social networking site, there is a single private key that can mint unlimited new BAYCs at any time. If the token contract owner (personal wallet rather than multiple signatures) is attacked by hackers or phishing, thousands of new BAYCs may be minted and dumped on the market.

If BAYC can be issued indefinitely, will it be the bursting of the NFT market foam?

Chart of the Day - The number of addresses holding more than 0.1 BTC exceeded 3.5 million, representing a record high

On June 6, according to Glassnode data, the number of addresses holding more than 0.1 BTC exceeded 3.5 million, up to 3,534,317, representing a record high.

Will the bull market return soon?

Influencer of the Day - Vitalik Buterin opposes prohibition of PoW, and propose to implement carbon pricing

On June 5, Vitalik Buterin, founder of Ethereum, issued a statement on social media to oppose the prohibition of PoW, and pointed out that it was a bad idea for officials to choose which specific applications could use electricity.

A better way is to directly implement carbon pricing and use part of the revenue to compensate low-income users.

Do you support carbon pricing?

Buzzes of Yesterday - #The UST crash may be the end result of most algorithmic stablecoins; #Web3 rises like the early Internet

Co-founder of Tether: the UST collapse may be the end of most algorithmic stablecoins

Deputy Prime Minister of Singapore: retail investors should not invest in cryptocurrency

Netscape founder says Web3 is like the rise of the early Internet

Goldman Sachs report: approximately 20 insurance companies around the world have invested or are considering investing in cryptocurrencies

Bitcoin miners are selling their BTC holdings in response to market headwinds

Author: Gate.io Researcher Byron B. Translator: Joy Z.
* This article represents only the views of the researcher and does not constitute any investment advice.*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

BTC/USDT -0.58%

ETH/USDT + 1.40%

GT/USDT + 3.28%

APE/USDT -1.13%

Unbox Your Luck and Get a $6666 Prize

0606 Daily Flash | BAYC exists the risk of unlimited additional issuance；Vitalik Buterin opposes prohibition of PoW

Today's Topic - Foobar, the crypto developer: Bored Ape has the risk of unlimited additional issuance

Chart of the Day - The number of addresses holding more than 0.1 BTC exceeded 3.5 million, representing a record high

Influencer of the Day - Vitalik Buterin opposes prohibition of PoW, and propose to implement carbon pricing

Buzzes of Yesterday - #The UST crash may be the end result of most algorithmic stablecoins; #Web3 rises like the early Internet

Select language and region

Fiat Currencies