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News

UniSat Removed The Access Threshold Of Points After the Attack

May 11, 2023 - Around 2 mins mins to read

Key Points:

  • The access requirement for UniSat Marketplace has been lifted.
  • Previously, the BRC-20 wallet platform suffered a double-spend attack.
According to the official announcement on Twitter, the BRC-20 trading platform UniSat Marketplace has canceled the access threshold. That is, UniSat Points will continue to service customers in new ways, but they are no longer required for access.
UniSat Removed The Access Threshold Of Points After the Attack

Earlier, the newly established UniSat Wallet was subjected to a significant double-spend assault.

During a preliminary assessment, the project team revealed that 70 transactions out of a total of 383 user transactions were impacted.

UniSat Wallet states that it would pay victims of the hack in the near future. Moreover, if impacted users’ wallets have not been recognized, they may seek additional help on Discord.

While BRC-20 technology was still relatively new at the time, the team believed that people would be able to grasp it.

When the Ordinals – Inscription project burst, the Bitcoin NFT wave has progressively become the market’s new “narratives.” Several developers are beginning to work on transforming Bitcoin into a DeFi environment, with many projects circling around it. In addition, the Bitcoin development community, like other blockchain systems, creates a token standard for projects established on the network. It is the BRC-20 token specification.

Together with that, various wallet initiatives (wallets) have emerged to let consumers gain access to Bitcoin’s NFT and DeFi ecosystems. UniSat Wallet, which became live on April 23, is the first BRC-20 wallet to be supported.

Moreover, the tsunami of memecoins began to grow anew, with PEPE leading the way, driving network transactions to skyrocket.

The average Bitcoin transaction cost has climbed to $30.91, the highest since April 2021. The recent increase in Bitcoin costs caused by the release of Ordinals and BRC-20 tokens, as well as Taproot’s involvement in their integration into the Bitcoin network. The impact on Bitcoin’s security architecture when block rewards fall is an appealing feature. For the first time since 2017, miners are being paid more than the block reward.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

BRC-20

UniSat

UniSat Marketplace

UniSat Points

UniSat Wallet

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

UniSat Removed The Access Threshold Of Points After the Attack

Key Points:

  • The access requirement for UniSat Marketplace has been lifted.
  • Previously, the BRC-20 wallet platform suffered a double-spend attack.
According to the official announcement on Twitter, the BRC-20 trading platform UniSat Marketplace has canceled the access threshold. That is, UniSat Points will continue to service customers in new ways, but they are no longer required for access.
UniSat Removed The Access Threshold Of Points After the Attack

Earlier, the newly established UniSat Wallet was subjected to a significant double-spend assault.

During a preliminary assessment, the project team revealed that 70 transactions out of a total of 383 user transactions were impacted.

UniSat Wallet states that it would pay victims of the hack in the near future. Moreover, if impacted users’ wallets have not been recognized, they may seek additional help on Discord.

While BRC-20 technology was still relatively new at the time, the team believed that people would be able to grasp it.

When the Ordinals – Inscription project burst, the Bitcoin NFT wave has progressively become the market’s new “narratives.” Several developers are beginning to work on transforming Bitcoin into a DeFi environment, with many projects circling around it. In addition, the Bitcoin development community, like other blockchain systems, creates a token standard for projects established on the network. It is the BRC-20 token specification.

Together with that, various wallet initiatives (wallets) have emerged to let consumers gain access to Bitcoin’s NFT and DeFi ecosystems. UniSat Wallet, which became live on April 23, is the first BRC-20 wallet to be supported.

Moreover, the tsunami of memecoins began to grow anew, with PEPE leading the way, driving network transactions to skyrocket.

The average Bitcoin transaction cost has climbed to $30.91, the highest since April 2021. The recent increase in Bitcoin costs caused by the release of Ordinals and BRC-20 tokens, as well as Taproot’s involvement in their integration into the Bitcoin network. The impact on Bitcoin’s security architecture when block rewards fall is an appealing feature. For the first time since 2017, miners are being paid more than the block reward.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News