Month: August 2019

Stablecoins Vulnerable to Regulatory Uncertainty: European Central Bank

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Stablecoins with a clear governance framework may be hampered by the uncertainty of the lack of regulation, according to the European Central Bank (ECB). Four major types of stablecoins outlined On Aug. 29, the ECB released a new paper devoted to stablecoins, which it describes as digital units of value that are not a form of any specific currency but rather rely on a set of stabilization tools in order to minimize fluctuations in their price. The ECB’s paper is called “In search for stability in crypto-assets: are stablecoins the…

New Parity Update Fixes a Vulnerability Present in Some ETH Nodes

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Blockchain software development firm Parity released an update for its Ethereum (ETH) node software which fixes a vulnerability present in some instances. Remote node crashing vulnerability In a blog post published on Aug. 29, Parity announced the release of an update for its Ethereum node software fixing the Remote Procedure Call (RPC) vulnerability. Per the announcement, nodes running Parity’s software with manually enabled public-facing RPC could be remotely crashed with a specially constructed RPC call. The team suspects that nodes with manually enabled tracing may also be vulnerable to the…

Banking Giant PNC to Deploy RippleNet for Cross-Border Payments

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PNC Treasury Measurement revealed that it was going to employ RippleNet’s blockchain technology for processing its cross-border payments. PNC, one of the leading banks in the U.S., has partnered with the major crypto firm Ripple, which specializes in cross-border payment and operates the Ripple (XRP)trade cryptocurrency, to enable the bank building the capacity for processing global payments. The deployment will assist the bank in reducing fees and waiting times. According to the latest numbers from S&P Global Market Intelligence, PNC is the eighth largest banking conglomerate in the U.S., amassing…

Suspected Capital One Hacker Is Now also Accused of Cryptojacking

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Paige Thompson, suspect of the Capital One hacking, was charged with the crime of hacking cloud-computing servers and stealing the data of the company to mine cryptocurrency. She now faces up to 25 years in prison for wire fraud, computer fraud and abuse. Former software engineer at Amazon, Paige was arrested on July 29th for alleged hacking. She has presumably compromised data of more than 100 million people. In the official document, not all companies that were victims are named, apart from 4 companies that have been specifically mentioned. Paige…

Binance Launches Dev Education and Collaboration Platform Binance X

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Major global crypto exchange Binance has introduced its new developer-focused project, called Binance X.  Bringing devs to relevant Binance programs The exchange launched Binance X on Aug. 29, aiming to provide blockchain developers with all necessary resources to drive new solutions on Binance’s projects, as well as in the whole blockchain ecosystem, according to a press release shared with Cointelegraph. Binance X platform will reportedly support developers and their initiatives by assisting in education and collaboration on Binance and connecting them with relevant internal programs that help projects progress at…

Lawsuits and Ripple Labs Sales are Bad News for XRP – CCN Markets

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XRP is down 5 percent on the day and has seen a significant retreat this year. | Source: Shutterstock By CCN Markets: To say that Ripple (XRP/USD) is a laggard would be a huge understatement. The cryptocurrency has been in a long downtrend ever since it posted an all-time high of $3.30 in January 2018. It is currently trading around $0.25 which is a massive devaluation of over 92 percent in over a year and a half. The brutal bear market has made many XRP holders unhappy. Some are starting to…

BitTorrent’s Live Streaming Platform to Use Crypto Incentives for Content Creators

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BitTorrent will soon introduce its own live streaming platform, called BLive. The streaming service will use blockchain and cryptocurrencies to operate. Offering a range of features, BLive will introduce a gifting mechanism. Users can use BitTorrent’s digital coin BTT and other cryptocurrencies to tip the person broadcasting the stream. Broadcasters will also be encouraged to increase their number of users because an increase in users will mean more crypto earning for the broadcasters. The streaming service will initially provide the following services: audio and video livestreams, a messaging system to…

Cryptocurrency Makes Criminals Harder to Catch

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Neil Wals, chief of the United Nations Office on Drugs and Crime Global Cybercrime Program, warned that cryptocurrencies have made combating money laundering significantly harder. Australian news outlet ABC reported on Aug. 29 that Wals said cryptocurrencies make fighting cybercrime, money laundering and financing of terrorism harder.  Wals expressed the idea that criminals using crypto assets include global child sexual exploitation networks, which he says are more widespread than much of the public understands. Crypto adds a layer of secrecy He believes that cryptocurrencies add a layer of secrecy, which…

Bitcoin Bullish Bias Intact despite $950 Drop – Here’s Why

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Bitcoin has dropped towards the $9,300 level for the first time in the last 30 days as investors continue to explore traditionally perceived safe-haven assets against global market risks. The benchmark cryptocurrency plunged by $950 within a matter of a few hours. The move downhill coincided with the expiration of CME bitcoin futures contract, which typically sends the bitcoin prices lowers across the top spot exchanges. It also occurred at the time when bitcoin’s rival assets, including gold, traded near their record highs. Euro Pacific Capital CEO Peter Schiff used…

Enterprise Ethereum Alliance Publishes on Blockchain Uses in Telecoms

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The Enterprise Ethereum Alliance (EEA), an organization that aims to establish standards in the blockchain sector, has published a collection of use cases for blockchain in telecommunications. Blockchain solutions for telecoms The EEA shared the announcement with Cointelegraph on Aug. 28. According to the announcement, the new document on blockchain solutions in the telecom industry was created by the EEA Telecom Special Interest Group (SIG).  This document is free and open to the public, and reportedly contains information on how blockchain technology can streamline business transactions and internal operations in…