Day: October 8, 2018

Man Gets 3.5 Years in Jail for Stealing Train Power to Mine Bitcoin, Local Media

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A man in China has been been sentenced to three and a half years in jail for stealing power from a train station to fuel his Bitcoin (BTC) mining operations, local media outlet The Paper reports October 8. According to court documents released today, the sentencing was served September 13 at the Datong Railway Transport Court in China’s northern Shanxi province. In addition to jail time, the individual, a local named Xu Xinghua, has reportedly been fined 100,000 yuan (around $14,500). Xinghua is said to have stolen electricity from one…

Crypto Is More Centralized Than North Korea, Says ‘Dr. Doom’ Economist Roubini

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American Economist Nouriel Roubini has stated that cryptocurrency is more centralized than North Korea in a tweet October 7. New York University professor Roubini, better known as “Dr. Doom” for his alleged prediction of the 2008 Financial crisis, has repeatedly criticized claims that decentralized in cryptocurrency exists. In his tweet today, the Harvard-educated economist again repeated his argument, this time calling crypto’s decentralization a “myth” and provocatively comparing the phenomenon to North Korea: “Decentralization in crypto is a myth. It is a system more centralized than North Korea: miners are…

Heathrow Airport Limited fined £120,000 for serious failings in its data protection practices

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Heathrow Airport Limited (HAL) has been fined £120,000 by the Information Commissioner’s Office (ICO) for failing to ensure that the personal data held on its network was properly secured. On 16 October 2017 a member of the public found a USB memory stick, which had been lost by a HAL employee. The stick, which contained 76 folders and over 1,000 files was not encrypted or password protected. The member of the public viewed the material it contained at a local library.  Although the amount of personal and sensitive personal data held…

Is it Safe to Send Crypto via Email? New Payment Platform Promises ‘Complete Security’

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A new platform for smart crypto payments offers users the ability to hold or send cryptocurrency by using an email address. Private keys are secured through sharding and decentralization. The platform connects Ethereum wallet addresses to emails, phone numbers, or login IDs and the company says it allows users to “bypass the complex nature of crypto wallets.” A new method of crypto security The new smart crypto payment platform Quixxi Connect provides a service for storing and managing digital assets. The company says their Smart Crypto Payments solution can help…

Drivechain: The Two-Way Peg Solution for Bitcoin Scalability

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As the world is becoming more and more aware of cryptocurrencies, their popularity and adaptation are also on the rise. The rise in adoption has also brought to light the inefficiencies with regards to keeping up with the increasing demand. While bitcoin blockchain stills look to be healthy for now, but with the rising demand, it may soon turn vulnerable and probably may come to a halt. This scalability issue of the bitcoin is due to a variety of aspects of how the Bitcoin protocol works. As Bitcoin uses blocks…

PwC, Deloitte, EY and KPMG Approaches Compared

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PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young (EY) and KPMG, better known as the “Big Four” auditors, all have established solid long-term blockchain roadmaps to remain relevant in the cryptocurrency and blockchain space. The four professional services conglomerates, which combined employ over a million individuals, have different roadmaps and perception of the future of the blockchain industry. Deloitte for instance, the biggest auditor out of the four with an annual revenue of around $43.2 billion, has stated that the blockchain sector is close to seeing a breakthrough with the technology. “Ultimately,…

Tron (TRX) Jumps 12% as Justin Sun Announces TVM Launch

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Tron on Monday appreciated 12 percent against the US Dollar to restest August high near $0.028. The spike came hours after Justin Sun, CEO and Founder of the Tron Foundation, announced that their super representatives reached consensus to launch the Tron Committee Function and Tron Virtual Machine (TVM). TVM launch marks an important step towards the functionality of Tron network. It is expected to test and execute large-scale decentralized applications similar to that of Ethereum. The TVM launch also marks the introduction of its very own smart contracts, called Era.…

IBM’s Food Blockchain Is Going Live With a Supermarket Giant on Board

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IBM is taking its food-tracking blockchain into production, making it one of the largest enterprise projects to achieve that milestone, and has signed European supermarket giant Carrefour to use it. Announced Monday, the commercial launch of IBM Food Trust means that large players, as well as small and medium-size enterprises (SMEs) in the food industry supply chain, can now join the network for a subscription fee ranging from $100 to $10,000 a month. And many SMEs may have a stronger incentive to participate to participate now that Carrefour, which operates 12,000…

Bitcoin’s Price Volatility Just Hit Another 15-Month Low

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Bitcoin price volatility continues to drop, with one measure having reached a 15-month low. Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week – the lowest reading since the first week of July 2017 – according to Bitfinex data. More importantly, the leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks, respectively. The data indicate that BTC is being squeezed in an ever-narrowing price range and, as per technical rules, a decisive move is overdue. Other measures…

Another Measure of Bitcoin Price Volatility Hits 15-Month Low

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Bitcoin price volatility continues to drop, with one measure having reached a 15-month low. Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week – the lowest reading since the first week of July 2017 – according to Bitfinex data. More importantly, the leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks. The data indicate that BTC is being squeezed in a narrowing price range and as per technical rules, a decisive move is overdue. Other measures of…