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HOW TO PROPERLY MANAGE YOUR PASSWORDS
May 14, 2024
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Your password is the first layer of defense when it comes to your accounts. Think of all the accounts you have created since you made your first email address. Can you remember all your logins?

It's simply not practical to have to remember tons of passwords, nor is it safe to use one password for everything. So how exactly do you properly manage all your digital credentials, usernames and passwords?

First, let's take a look at what NOT to do when it comes to your passwords (which a lot of you reading this are most likely guilty of doing):

  • DO NOT use the same password for everything.
  • DO NOT share your passwords or give access to anyone claiming to need it to help you in any scenario; no company or helpdesk will ever need your login information to access anything since they are the provider of the service to begin with.
  • DO NOT write your passwords on sticky notes, notebooks or digital documents that are not properly encrypted. If written passwords are lost or stolen your security is immediately compromised.
  • AVOID the answer to security questions being the actual answer; these answers may sometimes be public information so it is best to have a secondary strong unique password as the answer to security questions instead (ex. what was the name of your first dog? answer: 54ff##!!).
  • REMEMBER if you receive an email, text message or private message telling you to click on a link to secure your account, access your account, or provide a code, you should never entertain it and instead go directly to the source (ex. if Chase or Amazon calls, texts or emails you about a transaction you supposably did then you should go directly to the Chase or Amazon website yourself to verify if its true instead of entertaining any links or requests in the message they supposably sent you).

So, what is the best way to manage all that digital clutter?

A password manager.

A password manager can generate strong, unique, random passwords for all your accounts. Reputable password managers also helps manage these passwords in an encrypted vault, which is different then an Excel document sitting on your computer that you keep manually updating and painstakingly accessing. It is important to keep in mind that there are many password managers available, but there are ones that we recommend specifically.

For example, if you are using LastPass, we highly recommend immediately changing password managers along with changing all your credentials. LastPass has been involved in multiple data breaches in the past causing sensitive customer usernames and passwords to be leaked. This is another reason that in general we do not recommend saving seed phrases, private keys, or multi-factor backup codes in any digital format. There have been reports that users have had their assets drained and it may have been due to them storing their keys or backup codes among the data that was involved in the LastPass breach.

Want to know the best way on How To Safeguard Your Keys? Check out our article!

The password manager we recommend is BitWarden. It's free, open-source, and allows you to self-host your credentials as an option unlike LastPass. This way you are not relying on a third party to manage your data and the only variable that can compromise you is yourself. BitWarden is available for multiple operating systems and devices, making it easy to access your usernames and passwords when logging into your accounts.

A good way to transition from your current method of managing your passwords to a password manager like BitWarden is to take a day to sit down, think of all the accounts you have created over time, purge and delete any you no longer use, then for the ones you do use add them to the password manager and change your password to a random strong unique password for each account you add. This way moving forward you now have a default step whenever you create a new account; use your password manager to manage it for you. You will feel a lot better the next day knowing you have a secure first line of defense for all your accounts.

It is a common misconception that you have to change your passwords for all your accounts periodically. Think of how impractical that would be to do that for hundreds of accounts. Instead, with the methods we have already outlined above, you should at least change the password for what you consider a "primary account", like your main email addresses or main social profiles, at least once a year.

We highly recommend having a strong second line of defense for your accounts as well! Learn more about Best Pratices To Secure Your Assets in our article!

Have you been involved in a data leak?

When you use any service such as an e-commerce website, social network, or anywhere you have provided your login information or data, it is important to remember you are putting a level of trust into the provider to keep your data safe. Unfortunately, these providers sometimes end up having security breaches. This has happened with most major companies in the past, including Apple, Microsoft, Amazon and Google.

Thankfully, there is a free tool called PenTester which allows you to see if your email address has been associated with any data leaks on the dark web. The information you will see may potentially be passwords you have used in the past (and are hopefully still not using), your phone number, address and potentially other data tied to you.

Keep in mind this data is available for others to see, so it is important to mitigate any leaks you were involved in, for example changing the password that you may have not changed yet that is exposed.

Conclusion

It should be clear that trying to remember all your passwords, using the same password or a rendition of it for every account then constantly having to reset it, or writing your passwords down is just not a practical or enjoyable process.

The solution of course is a password manager that is open-source and self-hostable, like BitWarden, which manages strong randomly generated passwords for all your accounts.

It is also important to stay vigilant by employing an additional layer of security to your accounts, like a 2-factor authenticator, and to occasionally check if you have been involved in any data breaches by using services like PenTester.

Following these recommendations will keep your credentials, usernames, and password management for your accounts easy and secure!

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→ 200–300 new symbols added each month
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Pyth will become the most comprehensive financial data layer in the world.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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