The Bitcoin Gold (BTG) network suffered another set of 51% attacks on January 23-24, as roughly 29 blocks were removed in two deep blockchain reorganizations (reorgs). Reports indicate that more than 7,000 BTG was double spent as the chain suffered a loss of $70,000 in two days. Also read: Bitcoin Gold Hacked for $18 Million Bitcoin Gold Sees Two Deep Blockchain Reorgs With 29 Blocks Replaced In May 2018, the Bitcoin Gold (BTG) blockchain was 51% attacked for the first time suffering a loss of more than $18 million. BTG…
Month: January 2020
Bitcoin Gold Is Under 51% Dangerous Attack, Miners Double-Spend $72K
The attack on Bitcoin Gold was first spotted by James Lovejoy, a researcher from MIT Bitcoin Club. Bitcoin Gold ($BTG) was 51% attackedhttps://t.co/KxFvrsOhuO — James Lovejoy (@metalicjames) January 24, 2020 The short review of the attack is already on GitHub. The review says that on January 23, and 24, the attackers have removed blocks from the BTG network. Then, they re-added them and added new transactions instead of their old ones. Why did they do that? Because such thing as pulling the blocks out of the blockchain allows rewriting of…
Indian PM Awards Crypto App Creator as Supreme Court Deliberates on Ban
India’s Prime Minister Narendra Modi awarded young entrepreneur Harshita Arora, the developer of a cryptocurrency price tracking application, amid an ongoing battle in her home country over the status of cryptocurrency. In a tweet on Jan. 24, Modi said that Arora’s “passion towards science, technology and human welfare are clearly visible.” She received the Bal Shakti Puraskar 2020: an award recognizing youth’s contributions in the fields of social service, innovation, bravery, sports, art and culture and scholastics. Arora was born on Oct. 2, 2001, and “created an app to safeguard…
Why Security Token Offerings can be the ideal strategy to upscale your business?
Gone are the days when entrepreneurs were reaching out to banks and other sources to raise their funds. In specific, when it comes to blockchain projects, IPO and ICO were a couple of strategies that were dominating. But recently, Security Token Offering has emerged in the line. WHAT ARE SECURITY TOKEN OFFERINGS (STOS)? Security Token Offerings are the fundraising strategies similar to Initial Coin Offerings. Investors are issued with security tokens instead of utility tokens. Security Tokens are tradable real assets that hold real value. In the past two years,…
Top 5 Cryptos This Week (Jan 26): HEDG, DASH, BSV, ETC, XTZ
The next few days will decide whether cryptocurrencies will fall in tandem with equity and crude oil due to coronavirus or will they buck the trend. The coronavirus outbreak that started in China has gradually spread to a number of countries across the world. This is creating panic among investors as the death toll continues to rise. As a result, global equity markets and crude tumbled last week. Though cryptocurrencies also gave up some ground, they are currently attempting a relief rally and most major cryptocurrencies are trading in the…
What Are Lightning Wallets Doing to Help Onboard New Users?
The best Sundays are for long reads and deep conversations. Earlier this week, the Let’s Talk Bitcoin! Show gathered to discuss Lightning Network technology and two innovative approaches at the wallet level which simplify the new-user experience at a tangible, but seemingly minimal cost. Subscribe to the new CoinDesk Podcast Network for fresh, insightful episodes nearly every day of the week In today’s podcast we zero in on the challenge of “Channel Management”, an until-recently-mandatory and manually-managed part of connecting to and utilizing the still-nascent Lightning Network. A little context:…
WEF Launches Global Consortium for Crypto Governance
The World Economic Forum has created an international consortium to design a governance framework for cryptocurrencies, including stablecoins. Announced Friday, the consortium seeks to bring together financial institutions, government representatives, developers and other members of the global community to determine what sort of governance around cryptocurrencies can best further the goal of financial inclusion. Digital currencies are “a key area of interest for the Forum,” said WEF Founder and Chairman Klaus Schwab. The area “requires input across sectors, functions and geographies.” “Building on our long history of public-private cooperation, we…
Financial Institutions Use Stablecoins to Shake Things Up in 2020
For most people, the word “stablecoin” brings to mind cryptocurrencies like Tether or Libra. However, there are many versions of stablecoins — ranging from those that are backed by fiat money to those that are backed by real assets or even other digital currencies. Simply put, a stablecoin’s main aim is to solve the problem of volatility by being a digital asset that is tied to another asset with a stable value. The new year is already turning out to be an exciting time for stablecoins as interest among financial…
Telecommunications Giant Vodafone Leaves the Libra Association
Since the announcement of Facebook’s ambitious cryptocurrency project Libra last year, the social media company has faced a lot of scrutiny from regulators and politicians. This has caused many early backers, such as Mastercard and PayPal to exit the Libra Association, and as of recently, Vodafone has become the latest member to quit the project as well. When Facebook announced its plan to launch a digital currency in June of 2019, the news quickly gained global attention. Regulators were skeptical about the cryptocurrency project despite the company’s assurances that the…
One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin
Of all the Ether (ETH) locked in the collateralized debt positions (CDPs) of the old MakerDAO system, 27% belongs to a single Ethereum address. Financial technology data firm Digital Assets Data shared these findings with Cointelegraph on Jan. 26. Dai, which was created by MakerDAO, allows users to borrow or generate the stablecoin by staking their cryptocurrency holdings as collateral. Dai was not supported with bank accounts of reserve currencies but rather is generated by putting Ether into a CDP smart contract. In November 2019, the Dai stablecoin reached its…