Forum Posts

• Lyra Bennett

  • 27 posts
  Posted in the topic Smart Contracts Vulnerabilities: How to avoid them? in the forum Technology

  February 2, 2026 7:48 AM EST

  Smart contracts automatically execute processes on the blockchain based on predefined rules and conditions. Once deployed, smart contracts are immutable, which makes any security vulnerabilities costly to fix. Let’s explore some common smart contract vulnerabilities and steps to avoid them.

  Attackers repeatedly call functions before the previous call finishes to drain funds. This attack is called a reentrancy attack. Use the checks-effects-interactions pattern, and avoid using call.value() function, and consider reentrancy guards to prevent this attack. Unchecked external calls involve calling untrusted contracts that fail your contract. To avoid it, limit external calls, check their return values, and use interfaces instead of hardcoding addresses. 

  To exploit price changes or logic, attackers submit transactions that execute before yours. This attack is called front-running. To avoid front-running, use a commit-reveal scheme, implement slippage tolerance, or consider private transaction relays. Denial-of-Service (DoS) attacks are common, and to avoid them, implement circuit breakers and design fail-safe fallback functions. 

  Lack of auditing and testing is the main reason for major smart contract security issues. That’s why it is important to build your smart contracts with a reputable smart contract development company, as they regularly perform smart contract audits to ensure they are secure and robust.

• Lyra Bennett

  • 27 posts
  Posted in the topic How multichain wallet differ from a regular wallet? in the forum Technology

  January 23, 2026 6:32 AM EST

  A multichain wallet is essentially a cryptocurrency wallet that supports multiple blockchain networks, such as Ethereum, Polygon, BNB Chain, Arbitrum, Solana, or even Bitcoin, within a single interface. A multichain wallet allows users to manage their cryptocurrency assets across multiple blockchain networks. Multichain wallet development has become increasingly popular due to the rapid growth of DeFi, NFTs, and cross-chain activity.

   

  Whereas a regular or single-chain cryptocurrency wallet is built for a single blockchain network. This wallet offers deep support and optimization for a single network. Because of their narrower scope, single-chain wallets are typically simpler and can offer a smaller security attack surface. But unlike a multi-chain wallet, it doesn’t include native cross-chain features, so it depends on external tools or bridges to interact with other blockchain networks. 

   

• Lyra Bennett

  • 27 posts
  Posted in the topic How Polygon zkEVM Helps Web3 Startups Cut Costs? in the forum Technology

  November 25, 2025 8:10 AM EST

  Web3 startups are choosing Polygon zkEVM development services for building their applications, as it cuts down the operational cost in many ways. Polygon zkEVM lowers transaction costs by bundling thousands of transactions into a single zk-proof and submitting it to Ethereum. This helps to attract more users and retain existing users on your platform.

  Also, this lowers marketing CAC, onboarding incentives, and customer churn caused by high network fees.  Polygon zkEVM is fully EVM-equivalent; you don’t need new programming languages, development framework, custom compilers, specialized ZK developers, which greatly reduces infrastructure and engineering costs. 

  Since polygon zkEVM offers faster finality, lower latency, and instant proof-based security, you don’t need a huge team to solve operational issues such as customer support tickets, slow confirmation flows, and complex multi-step UX fixes. It only takes a few minutes or hours for withdrawal, which reduces the withdrawal times and improves cash flow.

   

• Lyra Bennett

  • 27 posts
  Posted in the topic Legal requirements for launching a perpetual futures exchange in the forum Technology

  November 24, 2025 8:10 AM EST

  Compared to other exchanges, launching a crypto perpetual futures trading platform includes strict legal requirements. The legal requirements may vary by country, but here are some of the core legal requirements.

  A crypto perpetual futures trading platform may require one or more of the following: 

  • Crypto derivatives license

  • Financial services license (e.g., Australia AFSL, Singapore CMSL)

  • Money Services Business (MSB) license

  • Digital asset exchange license

  • Virtual Asset Service Provider (VASP) registration

  
  Additionally, you also need a strong KYC/AML system,  risk management & liquidation framework, secure custody policies, market integrity & surveillance measures, and compliance with data protection laws to launch a perpetual futures trading platform. Select the ideal crypto perpetual futures trading platform development services that build your platform in compliance with all the regulations.

  This post was edited by Lyra Bennett at November 24, 2025 8:10 AM EST
• Lyra Bennett

  • 27 posts
  Posted in the topic What steps should a business take to stay compliant while using a DeFi wallet? in the forum Technology

  November 22, 2025 7:44 AM EST

  Ensuring compliance involves combining effective internal practices, a thorough understanding of the law, and secure operational processes. Based on your jurisdiction and business model, you need to comply with KYC/AML requirements, tax reporting obligations, securities law, and data protection regulations. 

  Build your wallet with built-in compliance features, including transaction labeling, exportable audit logs, compliance tools, and role-based controls from the leading DeFi wallet development company. To protect your DeFi wallet from unauthorized access, consider using multi-signature wallets, assigning role-based permissions, and creating an internal policy for wallet usage.

  Before utilizing DeFi wallets, check contract audits, avoid unaudited platforms, access the security model, and verify the reputation & maintenance history of the wallet provider. Set up tax-ready practices and maintain an audit trail. Also, use hardware wallets for treasury funds, long-term reserves, and high-value transactions.