Day: January 8, 2019

ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision

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An Ethereum (ETH) code contributor has suggested that Ethereum developers ‘embrace’ specialized mining hardware (ASICs) in a reply on Ethereum developer forum Ethereum Magicians, Jan. 7. As Cointelegraph reported last week, Ethereum core developers have tentatively decided to implement a new proof-of-work (PoW) algorithm, dubbed ProgPoW, which would decrease the efficiency divide between ASICs and GPUs, while rendering current Ethereum ASICs obsolete. According to another developer on Ethereum Magicians, David Vorick, ProgPoW would favor larger ASIC producers because the more complex hardware needed would exacerbate the economies of scale involved.…

Ethereum Classic Losses Top $1 Million after 51% Attack: Coinbase

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Losses stemming from an ongoing 51 percent attack against Ethereum Classic have now breached the million-dollar barrier, according to updated figures published by cryptocurrency exchange Coinbase. Ethereum Classic Attack Grows More Costly CCN first reported yesterday that the 18th-largest cryptocurrency appeared to have become the latest blockchain network to succumb to a 51 percent attack, wherein a malicious miner accrues a majority of the network hashpower and uses it to rewrite recent blockchain data. At the time, Coinbase announced that it had identified multiple instances where the attacker exploited that…

9/11 Papers Hacker Group Banned from Steemit Platform

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Steem is an open-source blockchain platform for publishing content. It works like a mixture of Reddit and Blogger, with incentivization in the form of Steem. TheDarkOverlord is the hacker group who says they have damning evidence and 9/11 papers. Yesterday, Steemit banned TheDarkOverlord. The hacker group uses Steem to publish his communiques and demands. They were previously banned from Twitter. Steemit.com Bans Users Steem should not be confused with Steemit, which is the first and most-used platform built on Steem. Several other platforms have been built on the Steem blockchain.…

Winklevoss Twins Still Set to Make Bitcoin ETFs a Reality

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Photo: Pavlos Giorkas / Flickr The Winklevoss twins are not going to give up on making Bitcoin exchange-traded funds (ETFs) a reality, as they stated during an Ask Me Anything (AMA) session on Reddit today, January 7, which covered many tricky questions related to Bitcoin’s future, Gemini exchange and cryptocurrencies in general. An exchange-traded fund represents itself a basket of assets that can be united together and sold as one product. Properly, each application for ETFs should be approved by the Securities and Exchange Commission (SEC), so that to make…

Brazil’s New President Jair Bolsonaro Shuts Down ‘Indigenous Cryptocurrency’ Project

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Brazilian President Jair M. Bolsonaro has recently revealed through social media his administration has shut down a project that would see Brazil launch an “indigenous cryptocurrency.” The revelation came as he was criticizing the “BNDES black box” referring to contracts associated with the National Bank for Economic and Social Development, a federal public company associated with the Ministry of Development, Industry, and Trade with the goal of contributing to Brazil’s development by financing projects. Brazil was to spend ~$12 million on an “indigenous cryptocurrency.” The president shut down the project:…

Brazil’s New President Jair Bolsonaro Shuts Down ‘Indigenous Cryptocurrency’ Project

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Brazilian President Jair M. Bolsonaro has recently revealed through social media his administration has shut down a project that would see Brazil launch an “indigenous cryptocurrency.” The revelation came as he was criticizing the “BNDES black box” referring to contracts associated with the National Bank for Economic and Social Development, a federal public company associated with the Ministry of Development, Industry, and Trade with the goal of contributing to Brazil’s development by financing projects. Brazil was to spend ~$12 million on an “indigenous cryptocurrency.” The president shut down the project:…

HACKERS STEAL $1.5M OF ETHEREUM CLASSIC IN A 51% ATTACK

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Ethereum classic, a spin-off of the world’s second most popular cryptocurrency, has been hit by a series of major attacks on its blockchain network.  Unknown hackers made away with more than $1.5 million (£1.2m) by performing a so-called 51 per cent attack on ethereum classic’s underlying technology. Popular cryptocurrency exchange Coinbase was forced to cease trades of ethereum classic as a result of the attack. Coinbase told its users in a blog post that more than $1.5 million had been lifted by hackers through the double spend event. “Coinbase detected a deep chain reorganisation of the ethereum classic blockchain that included…

Payment Network RippleNet Exceeds 200 Customers, Garlinghouse Highlights Fiat Volatility

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Crypto and blockchain company Ripple has reported today, Jan. 8, that 13 new financial institutions have signed up for the RippleNet payment network, bringing the total number of customers over 200. The new institutions range from locations including Sweden, England and Kuwait, with 40 countries in total across all customers. Ripple’s blog post notes that five of the new additions — JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank — will use Ripple’s digital asset, XRP, for liquidity when sending customer cross-border payments. Other institutions new to RippleNet, like the…

Ethereum Classic Price Barely Moves Despite 51% Attack

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When the 18th-largest cryptocurrency falls prey to a 51% attack, you’d expect it to make an impact on the coin’s short-term price movements. However, following a brief drop on Monday, the Ethereum Classic price is only performing moderately worse than its peers. CCN reported on Monday that Ethereum Classic’s team had used Twitter to warn exchanges of suspected network problems. They asked exchanges to wait up to 400 confirmations for deposits and withdrawals of ETC. This measure is intended to ensure that fraud is either minimized or impossible, depending on…

Tron Price Analysis: TRX Surge, can it Flip Ethereum to Second?

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Tron price is up 39.5 percent from last Tuesday Platform is attracting gamers thanks to Tron Arcade Transaction volumes are fair and trading within a bullish breakout pattern. No doubt, Tron (TRX) is one of the best performers in the last week. It is up 39.5 percent at the time of press and trading within a bullish breakout pattern after clearing 2.5 cents. At this rate, TRX may end up testing 4 cents by the end of January. Tron Price Analysis Overview There are no permanent positions in the top…