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Blockchain platform offers security and accountability that cannot



A fintech platform is taking on the decentralized finance craze with a focus on security, stability and accountability that DeFi platforms, by their very nature, cannot match.

“Crypto has a reputation problem and we hope to fix that,” crypto exchange and lender YouHodler CEO Ilya Volkov said. “We want to be as safe and reputable as your local TradFi bank but with an innovative twist that lets users harness the power of blockchain-based financial services.”

Call it TradFi with a fintech twist, as YouHodler offers crypto-collateral loans on 30 cryptocurrencies, an exchange with a fiat off-ramp, high-interest savings, and a pair of higher-risk, higher-reward investment platforms. These are Multi HODL, which focuses on extracting profit from market volatility, and Turbocharge, a “cascade of loans” product.


Security is a major concern — and selling point — for YouHodler, which holds a $150 million pooled crime insurance policy from Ledger Vault. The company also works with Fireblocks, a major crypto custody service.

The buck stops where?

YouHodler’s biggest feature is its aggressively proactive approach to security — something it argues cannot be had from DeFi platforms without an individual who is responsible.

DeFi’s accountability — or lack thereof — was made crystal clear in September 2020, when a community vote reversed a previous vote to compensate MKR holders who were cleaned out when the Maker liquidation system failed during an ether “black swan event” selling off loan collateral for zero-dollar bids.


The vote, with 65% against compensation, was thought to be a revolt by Maker “whales” who control large swaths of tokens, and the voting power that comes with it.

“Our team is visible, contactable, and responsible for the platform, unlike DeFi platforms,” the company said. ”When something goes wrong, YouHodler is responsible. Because of that, we are very careful with our operations and pride ourselves on creating the safest, most stable platform possible.”

Locking the back door

This month marks two years since a vpnMentor report outlined a data breach from YouHodler. It had a huge influence on the company back then.


“Thanks to the error in the news about 86 million clients affected with the leak we’ve got thousands of new registrations on the platform in the next few weeks. Of course, we never had millions of clients, and the number in the news was referred to the lines in the log files which were found by the researchers,” CEO Ilya Volkov said. “We tried to post an official answer from our side but unfortunately, everybody is interested only in negative news. Moreover, none of our users weren’t affected and the funds were totally secured.”

He added: “The second positive lesson that we learned from 2019 is paranoid security. Since then, we have gone crazy with the protection of the funds of our users. We contracted with a number of cybersecurity firms to provide in-depth penetration tests every quarter, as well as regular web app security tests, and ongoing employee training and awareness evaluations for phishing and other social engineering hacks. The penetration testing involves a survey of the IT infrastructure, analyzing IP addresses and network topology, and scanning perimeter nodes. There is also a review of the applications and system software to identify potential vulnerabilities, followed by threat modeling. In simple words, you will never see the second vpnMentor report about us.”

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The Best Blockchain Developers from All Over the World Will Gather for the International Blockchain-Tech Summit



On October 27-29, 2021, the International Blockchain-Tech Summit will bring together the world’s best developers in the field of blockchain technologies and fintech on one online platform. Participants will share their experience and discuss the most pressing issues related to the creation of modern smart contracts, the development of digital currencies of central banks, as well as solutions for ETN2.

The speakers of the summit will be:

  • Ziv Keinan, Simetria;
  • Tron Black, Ravencoin;
  • Irina Karagyaur, Polkadot and Kusama, Head Ambassador for Western Europe at Polkadot;
  • Kevin Owocki, Gitcoin;
  • Gregory Markou, Chainsafe;
  • and many others

The top management of such companies as Celo, Unique, Gitcoin, OpenSea, Simetria, Supernova, Algorand and others will also become speakers and participants of the Blockchain-Tech Summit.

Experts will discuss such topics as:

  • Ethereum Level 2.0 Solutions;
  • Consensus algorithms for compatible platforms (Polkadot and Avalanche);
  • CBDC (Central Bank Digital Currency);
  • Zero Knowledge Proof – Privacy ;
  • The difference between smart contract languages and rust;
  • Smart contracts now and in the future: a master class on creating smart contracts;
  • The difference in structure between rust/solidity/haskell/ink;
  • The social impact of blockchain projects;
  • Regulation + DeFi;

To become a participant of the summit, go to the website and fill out the form. Geekle provides free access for summit participants from all over the world, so that every developer, regardless of their level of training, has access to unique knowledge from world experts in the field of development. A paid package is also provided for professional developers, which includes an expanded set of options. 

The Blockchain – Tech Summit is organized by Geekle, which specializes in holding huge technical summits with more than 10 thousand participants from different technical fields.

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The Future Of Credit: Blockchain And Reputation-Based Scores



As the wealth gap is growing, individuals denied conventional credit are in a constant struggle. Moreover, conventional institutions are reluctant to provide loans to users without borrowing history.

If they do give approval, it usually comes with exorbitant interest rates. Cryptocurrency loans offer a more holistic approach to credit than personal FICO scores.

How Personal Scores Are Formed 

One of the most popular systems in the United States, FICO, considers five aspects of your financial past to rate your creditworthiness.


These are your history of payments, the total amount owed, age of history, new accounts, and credit mix. It all boils down to how likely you are to repay a loan.

The higher the score, the cheaper the loan as the interest rate goes down. 

This method has important limitations, which makes platforms that lend coin so popular. First, a person who has just opened their first credit account may have a sterling reputation.


They may be wealthy and have a history of fulfilling commitments. Secondly, data is updated with a delay. Finally, reports may contain errors, which is why the credit repair industry is so large.

Discover Reputation-based Credit

The paradigm is shifting. Cryptocurrency lending platforms understand that your previous history is not the only factor to assess creditworthiness.

Your values, community impact, reliability, and history of purchases should also matter.


Suppose you are a talented employee, punctual and hardworking. Your employer should be able to recommend you for a loan or credit card.

Similarly, someone who gives back to the community shows reliability and dedication. Such factors are ignored by conventional scoring systems, but they can play a role in cryptocurrency lending. 

Blockchain as Facilitator

Blockchain can support reputation-based scores in many ways. Here are the top two directions. 

  1. Snapshot of Your Reputation

It is possible to create a system focused on reputational cultivation. It will provide a snapshot of your background to the lender. Such environments will endorse creditworthiness and responsible behavior, from being punctual to helping strangers.

  1. New Scores

Different companies are experimenting with alternative metrics for loan applicants. For example, BTCJam tried adding new criteria like social media and recommendation letters.

Although this idea did not pan out, recommendations can help users without credit experience. 

Colendi has unveiled an algorithm that assigns a score based on data from the user’s smartphone, from social media activity to past purchases.

This also allows individuals to start with small loans and transactions and build trust gradually.


Exciting Prospects

Conventional institutions assess applicants based on a very limited number of criteria, and this has to change. Blockchain presents a great opportunity to add different reputational factors to the mix.

It can empower consumers to create unique identities, so they can have simplified access to lending online. This will allow everyone to get a loan and build credit.

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Blockdaemon Blockchain Infrastructure Firm Raises $155M from SoftBank Vision Fund 2 in Series B Funding Round



Blockdaemon has received that the funding would be channeled into expansion and also increasing its current tech portfolio.

Blockdaemon has raised $155 million in a recently concluded Series B funding round that increased the blockchain infrastructure firm’s valuation to $1.3 billion. The company plans to use the generated funds to scale up in Singapore, Japan, the UK, and Germany. In addition, Blockdaemon is also looking to make key acquisitions to increase its tech stack. The funding valuation makes Blockdaemon the largest blockchain infrastructure firm in the world for node management and staking. 

SoftBank Vision Fund 2 spearheaded the Series B round that comprised several other banks and asset management companies. They include Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital. Other players were Boldstart Ventures, Goldman Sachs, Greenspring Associates, Kenetic, Kraken Ventures, and Borderless Capital. 


According to Blockdaemon CEO and founder Konstantin Richter, the latest injection of capital into his company is beneficial. In his own words:

“This latest large infusion of capital will ensure that we continue to revitalize existing financial infrastructure.” 

In addition, Richter also stated Blockdaemon’s commitment to “a future of decentralized financial infrastructure”. He said his firm looks to speed up the ease of integration between traditional banking and the crypto ecosystem. 

Oli Harris, North America head of digital assets at Goldman Sachs, also weighed in on his company’s involvement with Blockdaemon. In a statement Harris said:


”Goldman Sachs is very pleased to continue our relationship with and investment in Blockdaemon as they continue to innovate for the financial services industry. We believe Blockdaemon has a key role to play in the future of blockchain and crypto adoption.”

Blockdaemon raised $28 million in June in a Series A led by Greenspring Associates with participation from Goldman Sachs. Other investors in that round were Coinfund, CoinShares, BlockFi, Uphold, and Voyager Digital. 

The Latest Funding Round by Blockdaemon Is Indicative of a Thriving Blockchain Industry

The blockchain infrastructure space is now tremendously competitive. This is due to the increasingly mainstream acceptance of crypto, most notably by traditional financial institutions. 

Crypto exchange Coinbase bought blockchain infrastructure startup Bison Trails in January. In May, Alchemy closed on an $80 million Series B funding round valued at $505 million and co-led by Coatue Management. Alchemy powers most of DeFi and almost all the big NFT platforms. Also, another company, Figment, generated $50 million towards building its proof-of-stake infrastructure. Institutional investors Senator Investment Group and Liberty City Ventures led the Series B funding round with participation from other players. Some of them include Anchorage Digital, Galaxy Digital, and 10T Ventures. 


There is room for added growth and enhancement in the Blockchain space. The general consensus is that the technology of the future will be decentralized. The groundbreaking and key protocols in development today will play a vital role in shaping that future. Blockdaemon continually strives to remain one of those at the vanguard of such initiatives. The company currently sports a series of industry-leading products, including a single command-line API integration.

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