Hillstone Finance Weekly Update (Apr 10~ 14)
Welcome to the weekly update from Hillstone Finance. We have brought one news for this week:
- Duk-hyun Hong participated in the NBN news
NBN News (Apr 13)
Q1. Ethereum’s shapella Upgrade…What is the value and impact of Ethereum in the short and long term?
A1. Ethereum’s shapella upgrade may cause selling pressure in the short term, but in the long run, it is expected to improve Ethereum’s security and trading speed, which will have a positive impact on the user experience and ecosystem development.
Although the LSD protocol can ease selling pressure, investors should focus on long-term value, not too much on short-term market fluctuations.
Q2. Bitcoin mining difficulties and hash rates are at record highs. How will it affect the market?
A2. Rising Bitcoin mining difficulties and hash rates are expected to spur growth in the Bitcoin ecosystem, while also boosting network stability and security, attracting more miners.
However, the concentration of mining activities has both advantages and disadvantages, and the potential for centralization threatens the integrity of the network and the competitiveness of small miners.
Mining profits may be affected by market volatility, global economic conditions, mining technologies, and energy efficiency.
Investors should monitor market conditions and mining technology trends to prepare for fluctuations in mining returns.
Q3. What do you think of the Sushi Swap hack?
A3. Large-scale hacking incidents have occurred in the Crypto DeFi ecosystem in recent weeks, such as sushi swap hacking that highlights the risks facing users.
Users can prevent fraud by analyzing contracts, liquidity, and stability assessments.
Hacking can negatively affect the stability of the DeFi ecosystem, but lessons can be learned to enhance security and promote safe use.
These efforts can ultimately lead to positive changes in the DeFi ecosystem.
Q4. How do users and DeFi platforms prevent hacking?
A4. Sushi swap users should cancel the contract approval and proceed with the withdrawal to prevent security issues.
The DeFi platform should continue to develop and enhance security through code review, external audits, bug bounce programs, and user training to restore trust.
Investors should be responsible and informed when investing in new protocols or DeFi products, and prioritize platforms and reliability with many users.
It is important to accumulate knowledge in order to invest stably, such as exploring staking products operated by domestic exchanges.
That is all for this weekly update.
Thank you.
See Hillstone Finance on Twitter:
https://twitter.com/hillstoneFin
