Day: April 10, 2020

Chinese Gov’t Seeks Feedback on Data Security Standards for Blockchain, IT

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China’s Ministry of Industry and Information Technology has called for feedback on draft guidance for standardizing data security in blockchain and other emerging technologies. In a document published on April 10, the ministry argued that data has become a “national basic strategic resource” and innovative element in social production.  While the rise of big data and accelerating the development of China’s telecoms and internet sectors is a boon for the country’s digital economy, developers and government must understand the profound importance of tackling emerging, complex and severe security risks and…

The Pandemic Couldn’t Have Provided a Better Environment for Crypto

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The Fed opening the floodgates to unlimited standing quantitative easing paired with a $6 trillion stimulus package is an unprecedented event. It’s the most heavy-handed intervention by the Fed to date. For many crypto proponents, it is a rallying cry amid an interventionist monetary policy reminiscent of the 2008 environment that led to the release of the Bitcoin (BTC) whitepaper by its anonymous founder. The giant stimulus package equates to roughly 28% of the United States’ 2019 GDP, arriving while credit markets are in flux and bond yields are trending…

Bitcoin Cash Could Face 51% Attack for $10,000 in Rented Hashpower

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The recent Bitcoin Cash (BCH) block reward halving has wreaked havoc on the cryptocurrency’s hash rate — with an apparent miner exodus plummeting hash power more than 80% over two days. As a result, launching a 51% attack on BCH currently costs less than $10,000 per hour, raising concerns regarding the security of the network. BCH Hash rate plummets 80% In response to BCH’s block rewards dropping from 12.5 BCH to 6.25 BCH, many miners appear to have migrated their hash power to the Bitcoin (BTC) network. According to f2pool,…

Online Voting Not Secure Even With Blockchain, Says US Association

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With images from the Wisconsin democratic primary flooding the internet this week showing voters braving hail and cold weather in the middle of a pandemic, Americans may be looking for a better way to vote from home. Unfortunately, according to one scientific association in the U.S., there may not be a safe way to do it with their smartphones just yet. In an open letter dated April 9 to Governors, Secretaries of State and State Election Directors, the American Association for the Advancement of Science’s (AAAS) Center for Scientific Evidence…

Bitcoin Price Suddenly Drops Below $7K, Crypto Market Under $200B

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Bitcoin (BTC) price dropped nearly $200 in minutes on April 10 to slide below $7,000 for the first time in four days. Data from Coin360 and Cointelegraph Markets showed BTC/USD now dropping below the tight $400 corridor between $7,100 and $7,410 where it had stayed for most of the week. The sudden drop from $7,150 to $6,915 also formed the most volatility seen in recent days and, at press time, Bitcoin is trading around $6,960. Cryptocurrency market daily overview. Source: Coin360 BTC price dives going into the weekend — $6.3K…

Texas Cloud Mining Firm Shut Down After Fake Charity Pitch

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The Texas State Securities Board (TSSB) has taken emergency action against cloud mining firm Ultra BTC Mining for issuing unregistered securities.  The emergency cease-and-desist order was jointly filed against Ultra Mining by the TSSB and the Alabama Securities Commission on April 8. The securities regulators accused Ultra Mining of registration violations, fraud, failures to disclose key information relating to its operations, and misleading or deceptive statements. The regulators allege Ultra BTC Mining and its agent Laura Branch were running a “recession special” to prey on economically vulnerable Texans and had…