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SK Telecom, South Korea’s leading mobile operator, has announced a new collaboration with blockchain firms Aptos and Atomrigs Lab to develop its web3 wallet service, T wallet . On Nov. 7, the Korean telecom munications company shared in a LinkedIn post that its three-way partnership is focused on strengthening connections with mainnets and decentralized applications favored by customers, with particular emphasis on the T wallet service. The T wallet is designed to provide users with the convenience of accessing blockchain-based applications directly on their mobile phones, enabling them to store various tokens securely. This development marks SK Telecom’s first venture into integrating a non-Ethereum (ETH) virtual machine blockchain, signifying a broadening of its technological horizons. You might also like: South Korea’s crypto market soars to $21.1 billion in H1 The partnership with Aptos (APT) is particularly notable as it brings the MoveVM blockchain tech...

Decentralized social network Friend.tech may be booming right now, but execs say decentralized social media apps still have an onboarding and retention issue to fix. Despite the recent hype around riend .tech, some decentralized social networks are still having a tough time getting users to sign up and stay on their social media platforms. Two executives in the decentralized social (DeSo) media space told Cointelegraph that as much as 99% of users moving into DeSo for the first time will end up quitting, either due to clunky onboarding or simply not knowing anyone. Ed Moss, the head of growth for layer-1 blockchain firm DeSo, said the process of cryptocurrencies from an exchange, transferring it to a wallet with an installed Chrome extension, and then paying high gas fees to transact on-chain or across chains is tedious and expensive for first-time users. “We've found that 99% of mainstream users will drop off at that first step, so simplifying this flow is mission critical.” ...

Find out why it’s crucial for peer-to-peer (P2P) payment networks to be able to operate offline. What is a peer-to-peer payment protocol, and how does it work?Is Bitcoin truly a peer-to-peer protocol?Why did Satoshi Nakamoto describe Bitcoin as “peer-to-peer electronic cash”?What about other digital payment systems?What would it take for CBDCs to be considered peer-to-peer?What is machine-to-machine commerce, and how can it benefit from P2P payments?Do we even need these peer-to-peer protocols?Is there a true peer-to-peer payment solution available? What is a peer-to-peer payment protocol, and how does it work? Peer-to-peer (P2P) payment protocols are sets of rules and standards that enable transactions directly between two parties without intermediaries like banks or payment processors. P2P payment protocols increase security with cryptographic encryptions and provide lower transaction fees, as there are no intermediaries involved. Blockchain-based P2P protocols are widely used in th...

According to Elliptic, a blockchain analysis company, an estimated 5,500 crypto wallets have been affected by the attack. Atomic Wallet, a noncustodial decentralized wallet, has been hit by a staggering exploit, leading to users reporting losses of their entire cryptocurrency portfolios. This unforeseen breach has sent shockwaves through the crypto community, as Atomic Wallet's fundamental premise relies on users assuming full responsibility for storing their assets securely.  The losses from the Atomic Wallet heist have now skyrocketed to over $100 million, according to Analysis conducted by Elliptic. This alarming figure highlights the severity of the attack, which compromised an estimated 5,500 crypto wallets. Despite the magnitude of the incident, Atomic Wallet has yet to provide any explanation regarding the root cause of these substantial losses. This has led to mounting concerns from frustrated users who anxiously await clarification and reassurance from the company. Mea...