Most Recent Scams in Crypto Space?

The number of crypto frauds and scams is rising yearly, causing people to lose their investments without fault. The DeFi protocol, exchange platforms, and blockchain bridges were the most common targets of cryptocurrency hacks and scams in 2022. The DeFi protocol accounted for roughly 97% of all stolen cryptocurrency in 2022. Similarly, cross-chain bridge breaches are estimated to cause a loss of $1.4 billion.

Based on Solidus Labs Reports, crypto scams increased in 2022, with rug pulls becoming more prevalent. Over 188,000 rug pull incidents occurred on various blockchains, causing investors to lose billions. However, the most significant loss came from a source far more reliable than these crypto scams. According to an investigation conducted after FTX filed for bankruptcy, up to $2 billion of customer funds disappeared. Consequently, this makes it the biggest scam perpetrated in cryptocurrency this year.

With this type of scam going on, some investors remain sceptical about the blockchain market. The lack of regulation of most crypto assets encourages more and more criminals to scam unsuspecting people in the crypto space. However, if you invest in promising projects and take precautions, your investment will pay off. Are you still searching for projects that will give you the most while ensuring your funds are 100% safe? Consider investing in SafeOne Chain-vetted projects. 

How is SafeOne Chain a 100% secure blockchain for investments?

Blockchain’s security and privacy become the most critical aspects of its operation because adopting a technology that lacks security is pointless. Blockchain security systems aim to protect essential data from unauthorised access and to maintain network trust. Since blockchain is the backbone of cryptocurrency, all investors who invest in cryptocurrencies want their projects to yield a good return while maintaining a high level of security. As a means of providing users with the highest level of protection, the SafeOne Chain has been developed.

The SafeOne Chain provides a technology infrastructure for developing smart contracts and Dapps that is highly secure and competitive without requiring high energy costs. Smart contracts based on blockchain technology that utilises proof-of-stake validation for transactions have a significant performance advantage over proof-of-work solutions. The SafeOne Chain’s smart contract framework is intended to meet the requirements of both application suitability and industry best practices.

The SafeOne Chain provides a variety of crypto insurance packages based on unique utility NFTs to ensure maximum security. The SafeOne Chain will offer a variety of insurance policies to protect against any type of scam/rug that may occur on the Chain. The Chain guarantees a refund of all invested money up to the maximum insurance amount. Moreover, as soon as the policy is settled or the validity of the NFT expires, the NFT will be burned. NFTs that are expired and unused can be exchanged for new NFTs for just 25% of the original purchase price.

Safeone chain

How SafeOne Chain differs from other blockchains

Some blockchain networks rely on Proof of Work (PoW) to validate transactions that have a process that is computationally expensive and energy-intensive. In contrast, SafeOne Chain uses a Proof of Stake (PoS) consensus model, a modern and more economical solution to traditional systems. Their goal is to make a decentralised smart contract system based on UTXO and using a PoS model. Using the PoS model, the creator of the next block is selected randomly based on the amount of cryptocurrency held in their wallet and the maturity of the cryptocurrency. This approach ensures the rotation of addresses and encourages widespread participation in the network.

How will SafeOne bring cryptocurrency into people’s everyday lives?

Cryptocurrency is still a new concept in the real world today. Almost all shops do not accept cryptocurrencies for payment, so they cannot be used to make purchases. Fortunately, that is no longer the case! With SafeOne crypto debit cards, you may purchase products from any store worldwide.

SafeOne’s crypto wallet and crypto debit card are much more accessible than other methods of storing and spending money. SafeOne Wallet can be used to purchase gift cards for daily shopping. The SafeOne crypto debit card allows you to make purchases in crypto at the point of sale instead of first converting them to fiat currency. Moreover, you will be able to charge your debit card with crypto using $SAFO or a stable coin and purchase goods and services anonymously. 

Overview of Latest Developments in SafeOne Chain

Staking Feature

With a proof-of-stake model, coin owners can stake their coins and set up their own validator nodes. The process of staking involves pledging your coins to be used as a means for verifying transactions. While you stake your coins, they are locked up for a specified period. With SafeOne Chain, users are rewarded for their participation in helping to secure the underlying network. The SafeOne team has developed effective un-stake functionality in smart contracts. Now, users can un-stake a custom amount instead of a default of 100%. Furthermore, if a user’s tokens are fully locked and they wish to exit the pool, they will need to pay a 10% exit fee.

Live/Future Pool Selection Tab

There is also a Finished Pool available from SafeOne. The token websites and the pool contracts have been added below the header. Soon, investors will be able to select pools under the Live/Future Pool Selection Tab. They have also added a gas optimisation feature to reduce the cost of project deployment.

Improved UI

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Since blockchain technology entered the real world, numerous malicious attacks, security breaches, and network failures have been reported. SafeOne Chain was developed to ensure top-notch security for chain users. The SafeOne Chain team is continuously improving security techniques and vetting only verified blockchain projects. If you are looking for a 100% secure blockchain to invest in, SafeOne Chain is the right choice for you.

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

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