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Crypto analyst MartyParty emphasizes the importance of understanding blockchain technology. MartyParty dismisses wishful thinking around Ethereum Virtual Machines (EVMs) and their potential for parallel transaction processing. EVMs like ADA, XRP, AVAX, BNB, and INJ didn’t achieve parallel transaction processing, according to the analyst. Crypto analyst Martin Folb, known as MartyParty, takes a deep dive into transaction processing, emphasizing the significance of understanding the underlying technology rather than succumbing to speculative fervor. In a recent tweet, MartyParty dismissed wishful thinking surrounding Ethereum Virtual Machines (EVMs) and their potential for parallel transaction processing. The focus, he asserts, should be on the technological prowess of the asset class. He also urged enthusiasts to look beyond the hype and delve into the core of blockchain functionality. The analyst singles out prominent EVMs and EVM clones, including ADA, X...

Fireblocks assists smart contract wallet UniPass to address ERC-4337 account abstraction vulnerability. Cryptocurrency infrastructure firm Fireblocks has identified and assisted in tackling what it describes as the first account abstraction vulnerability within the Ethereum ecosystem. An announcement on Oct. 26 unpacked the discovery of an ERC-4337 account abstraction vulnerability in the smart contract wallet UniPass. The two firms worked together to address the vulnerability, which was reportedly found in hundreds of mainnet wallets during a ‘whitehat’ hacking operation. According to Fireblocks, the vulnerability would allow a potential attacker to carry out a full account takeover of UniPass wallet by manipulating Ethereum's account abstraction process. As per Ethereum’s developer documentation on ERC-4337, account abstraction allows for a shift in the way transactions and smart contracts are processed by the blockchain to provide flexibility and efficiency. Related: Account a...

The new class action lawsuit aims to help BAYC and APE buyers get compensation from Yuga Labs due to the firm allegedly misleading investors. Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects. Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs.  Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7. The Law firm emphasized that Yuga securities’ investor s that bought BAYC and APE between April 23, 2021, and Dec. 8, 2022, may be entitled to compensation without payment of any additional costs through a contingency fee arrangement. The new case targets a large number of defendants, including Yuga Labs co-founder Wylie Ar...