Friend.tech Contributes to Base’s Growth
A decentralized social media platform called Friend.tech has played a significant role in the recent growth of Base, a secure and builder-friendly Ethereum layer-2 chain developed by Coinbase. Base has become popular among DApp developers and early investors due to its performance and ability to attract innovative projects.
One Million Daily Active Users and $35 Million TVL
Friend.tech has surpassed one million daily active users and has a total value locked (TVL) of over $35 million. The platform allows users to buy “shares” of other users in order to chat with them, emphasizing the concept that “Your network is your net worth.”
Cybersecurity Threats and Phishing Attacks
Rapid growth has also attracted cybersecurity threats, particularly phishing attacks. These social engineering tactics have been a major concern in the Web3 sector, resulting in losses of $650 million as of June 2023. Even high-profile individuals like Mark Cuban and Vitalik Buterin have fallen victim to such attacks. To mitigate these risks, Friend.tech strongly recommends the use of hardware wallets for enhanced asset security.
CoolWallet Launches Web3 Guardian Competition
CoolWallet, a hardware wallet maker that supports the Base ecosystem, has initiated a Web3 Guardian competition in response to these security challenges. The competition aims to raise awareness about CoolWallet’s Web3 SmartScan feature, which proactively screens all Web3 transactions for malicious behavior or smart contract vulnerabilities. This additional layer of protection helps defend against phishing attempts.
Promoting Web3 Asset Protection
CoolWallet is launching a global competition with generous rewards to promote Web3 asset protection and encourage the use of SmartScan for safer transactions. This is crucial in the face of increasing phishing attacks targeting both individual users and high-profile personalities in the crypto space.
Enhancing User Security Awareness
The Web3 Guardian competition is expected to attract significant attention, especially among Friend.tech users who prioritize asset security. The competition not only offers rewards but also educates users on the importance of transaction screening, a feature that is often overlooked but essential in the current landscape of frequent cyber attacks.
Hot Take: Protect Your Web3 Assets with CoolWallet
CoolWallet’s Web3 Guardian competition serves as an important reminder to protect your assets in the Web3 world. With the rising number of phishing attacks and cybersecurity threats, it is crucial to prioritize security measures like hardware wallets and transaction screening. By participating in the competition and utilizing CoolWallet’s SmartScan feature, you not only have a chance to win rewards but also enhance your awareness and safeguard your valuable digital assets.
Blount Charleston stands out as a distinguished crypto analyst, researcher, and editor, renowned for his multifaceted contributions to the field of cryptocurrencies. With a meticulous approach to research and analysis, he brings clarity to intricate crypto concepts, making them accessible to a wide audience. Blount’s role as an editor enhances his ability to distill complex information into comprehensive insights, often showcased in insightful research papers and articles. His work is a valuable compass for both seasoned enthusiasts and newcomers navigating the complexities of the crypto landscape, offering well-researched perspectives that guide informed decision-making.
