Friend.tech Takes Base by Storm; Layer 1 Blockchain Terra Says its Website Was Compromised

CoinDesk published this video item, entitled “Friend.tech Takes Base by Storm; Layer 1 Blockchain Terra Says its Website Was Compromised” – below is their description.

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as layer 1 blockchain Terra warns users to avoid using its website after being targeted by a phishing attack. Ethereum co-founder Vitalik Buterin deposited roughly $1 million worth of ether (ETH) to Coinbase. And, a closer look at the hype swirling around new social tokenization protocol Friend.tech.

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CoinDesk is a news site specializing in bitcoin and digital currencies. The site was founded by Shakil Khan and was subsequently acquired by Digital Currency Group.

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A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the accuracy and security of a record of data and generates trust without the need for a trusted third party.

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In This Story: Ethereum

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

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Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

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Vitaly Dmitriyevich “Vitalik” Buterin is a Russian-Canadian programmer and writer who is best known as one of the co-founders of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding Bitcoin Magazine in 2011. In 2014, Buterin launched Ethereum with Gavin Wood.

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