Day: May 17, 2019

2019 Bitcoin Rally Beats 2017’s All-Time High $20,000 : Crypto VC Chief

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By CCN: Barry Silbert, the founder and CEO of Digital Currency Group (DCG), one of the most influential venture capital firms in the crypto space, has said that the current rally of bitcoin is different from 2017. The bitcoin price dropped to $7,200 on the day but remains up 96 percent year-to-date (source: coinmarketcap.com) The prominent investor emphasized the noticeable improvement in the infrastructure supporting bitcoin and the emergence of trusted custodial service providers that allow accredited and institutional investors to commit to the market. Is the Bitcoin Recovery Only…

Cornell Uni’s Emin Gun Sirer Debuts Ava Blockchain Following $6 Million Investment

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Emin Gun Sirer, a professor at Cornell University and a major global blockchain expert, will launch his own cryptocurrency and blockchain network, Bloomberg reported on May 16. Sirer, the creator of the first crypto based on proof-of-work (PoW) — Karma System — is now planning to launch a blockchain network that he touts as running as many transactions per second as payment giant Visa. Having raised $6 million from major investors such as Andreessen Horowitz, Polychain and MetaStable in February, Sirer’s Ava Labs has reportedly launched a private test version…

Unpatched Ethereum Clients Pose 51% Attack Risk, Says Report

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Ethereum clients that still haven’t patched known vulnerabilities pose a security risk to the entire network, according to new research. A report from Security Research Labs that used ethernodes.org data, indicates that a large number of nodes using the most popular clients Parity and Geth have been left exposed for “extended periods of time” after patches for security flaws have been released. SRLabs says it reported a vulnerability in the Parity client in February that can open nodes up to being crashed remotely. The report states: “According to our collected…

What Crypto Exchanges Do to Comply With KYC, AML and CFT Regulations

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While it’s possible to buy top cryptocurrencies like bitcoin (BTC) and ether (ETH) in the over-the-counter (OTC) market, most people will need an exchange in order to buy other altcoins. Exchanges are simply an important component of the system that makes the crypto market tick. Regulators around the world have identified this, which is why regulatory moves have primarily targeted exchanges. Regulators want to be sure that exchanges employ the best security practices as well as measures — Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of…

Bitcoin Cash Vigilante ‘Liquidates’ Upgraded Blockchain Attacker’s Funds

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By CCN: An attempted disruption of the Bitcoin Cash blockchain resulted in a negative outcome for the attacker. A BCH tinkerer with Reddit username NilacTheGrim boasted yesterday that he had “liquidated” the crypto funds belonging to the would-be blockchain bandit. Weak Address Security Come Back to Bite Bitcoin Cash Attacker To do so, he found a flaw in the wallet security model used by the attacker, who has not identified himself or been identified at press time. “The attackers used p2sh addresses that had easily guessable scriptSigs (they lacked a…

Bitcoin Cash Vigilante ‘Liquidates’ Upgraded Blockchain Attacker’s Funds

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By CCN: An attempted disruption of the Bitcoin Cash blockchain resulted in a negative outcome for the attacker. A BCH tinkerer with Reddit username NilacTheGrim boasted yesterday that he had “liquidated” the crypto funds belonging to the would-be blockchain bandit. Weak Address Security Come Back to Bite Bitcoin Cash Attacker To do so, he found a flaw in the wallet security model used by the attacker, who has not identified himself or been identified at press time. “The attackers used p2sh addresses that had easily guessable scriptSigs (they lacked a…

Sports Blockchain Venture Chiliz Announces Strategic Partnership With Binance Chain

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Sports blockchain venture Chiliz has announced a strategic partnership with Binance Chain, the mainnet of major cryptocurrency exchange Binance. The news was revealed in an official press release on May 17. As previously reported, Chiliz ($CHZ) is a sports industry-oriented digital currency that powers the tokenized fan engagement platform and blockchain-powered mobile app, Socios.com. High-profile Socios partners to date have included major soccer teams Paris Saint-Germain and Juventus, who plan to use the platform to launch fan token offerings for their club-branded tokens, which will confer voting rights for club-related…

Coin Metrics Report Highlights Discrepancies in Ripple’s Escrow System Reporting

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Blockchain analysis company Coin Metrics has found discrepancies in blockchain payments network Ripple’s escrow system reporting, according to a May 16 report. Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, investigated Ripple and discovered what it said were contradictions that required an explanation. “Coin Metrics found several important discrepancies between what was publicly reported by Ripple and what was visible on the XRP ledger,” the report summarized. The three aspects are the following: “Two quarterly markets reports under-reported the number of XRP released from escrow by a…

Just 2/3 of ETH Nodes Running Parity Have Been Patched Against Critical Security Flaw

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Global hacking research collective SRLabs claims that only two thirds of the Ethereum client software that runs on Ethereum nodes has been patched against a critical security flaw discovered earlier this year. The news was reported by business tech website ZDNet on May 17. An SRLabs report ostensibly shared with ZDNet has reportedly revealed that the critical flaw is a denial of service (DoS) vulnerability in the Ethereum Parity client. As SRLabs has outlined, the flaw could enable a hacker to remotely crash legitimate Parity Ethereum nodes by sending malformed…

Top Banks Alleged to Be Investing $50 Million in Digital Cash Settlement Project

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Sources ostensibly familiar with the matter have claimed that some of the world’s leading banks are currently investing around $50 million to build a blockchain-powered digital cash system for transaction settlement. The news was reported by Reuters on May 17. An earlier project for a blockchain-based currency settlement coin was unveiled by Swiss bank UBS Group AG and London-based technology startup Clearmatics at early as 2015, as Cointelegraph reported at the time. One of Reuters’ sources has said that the latest development involves around a dozen major banks investing in…