Pump dot fun & similar apps have facilitated extraction of capital from crypto. Solana’s $LIBRA rug pull may lead to prosecution after issuer Hayden Davis confesses to insider trading and market manipulation.
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What is LIBRA token?
$LIBRA is a token issued by entrepreneur Hayden Davis, who is also the CEO of a crypto investment firm called Kelsier Ventures, according to a report by Bloomberg. KIP Protocol, a Web3 company building a decentralized AI framework, reportedly played a role in the launch of $LIBRA as well.
What is DECENTRALIZATION?
Decentralization in crypto refers to the transfer of control and decision-making from a central authority to a distributed network. Powered by blockchain technology, it ensures transparency, security, and censorship resistance by removing intermediaries. Decentralization is the backbone of cryptocurrencies like =”https://interchaininfo.zone/indexes/solv-protocol” target=”_blank” data-ici-summary=”Solv Protocol – a Decentralized Bitcoin Reserve” title=”Solv Protocol”>Bitcoin
and Ethereum, enabling peer-to-peer transactions and trustless systems. This concept drives the growth of DeFi, DAOs, and Web3, reshaping how value and power are distributed online.
What is PROOF OF STAKE?
Proof of Stake (PoS) is a blockchain consensus mechanism that secures networks by requiring validators to stake cryptocurrency. Unlike Proof of Work, PoS is energy-efficient, using staked tokens to validate transactions and create new blocks. It enhances scalability, lowers environmental impact, and rewards participants with staking incentives. Popular PoS blockchains like Ethereum, Cardano, and Solana drive Web3 adoption with this eco-friendly system.
