Day: July 30, 2020

Hackers Have Been Using Dogecoin to Deploy Malware for 6 Months & No One Noticed

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A new study indicates that hackers are actively relying on the Dogecoin (DOGE) blockchain to expand a malware payload named “Doki.” According to cybersecurity researchers at Intezer, Doki is a fully undetected backdoor that abuses the Dogecoin blockchain “in a unique way” in order to generate its C2 domain address and breach cloud servers. It is deployed through a botnet called Ngrok. These domain addresses are used by the malware to search for additional vulnerable cloud servers within the network of the victim. Intezer’s study explains further about the deployment…

Overstock’s Blockchain Ventures Booming in Q2

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Recent Q2 financial details from blockchain-involved company Overstock show triple digit percentage growth compared to the same time in 2019. “Total net revenue was $783 million, an increase of 109% year over year,” a public statement said on July 30. “Gross profit was $180 million or 23.0% of total net revenue, an improvement of 321 basis points year over year.” Overstock issued digital securities to investors in Q2 The mainstream giant touts various areas of crypto involvement, including a blockchain wing known as tZERO. Overstock gave its stock shareholders a…

The Future of Crypto Mining is All About Computing Power, Says RRMine Global CEO

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RRMine Global CEO, Steve Tsou, said at a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 29 that the future of crypto mining will transit from labor-intensive companies to technology-intensive and capital-intensive companies. It will be all about computing power. Computer power and the digital economy With the rapid development of new generation information technologies such as 5G, big data and cloud computing, the demand for computing power will likely increase. Tsou believes that a computing power revolution is imperative. He continued:  “Therefore, as a new…

This Coin’s Supply Goes Down as the Price Rises

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Ampleforth (AMPL) is a cryptocurrency built with an elastic supply that expands and contracts depending on demand. According to its co-founder Evan Kuo, the team was trying to learn from the failures of the gold standard and Bitcoin (BTC) to create a more flexible monetary system. Investors hoard Bitcoin & gold Although many in the crypto space perceive the finite inelastic supply of Bitcoin and gold as a major advantage over fiat, Kuo disagrees: “The only problem with gold arises when you start to use it as a base money…

How the Ethereum-Based Ampleforth’s 50% Crash Shows DeFi Investing Risks

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The DeFi craze may have finally gone too far, leading investors into disaster as some top industry analysts had forewarned. Ampleforth, an altcoin that recently flash pumped by over 700,000%, just collapsed by over 70% wiping out investor’s gains and then some. The fast rise followed by an abrupt crash underscores the potential downside risk of decentralized finance, now that the upside as officially ended. Decentralized Finance Enters Drawdown Phase Following Bitcoin and Ethereum Rally At the start of 2020, skyrocketing interest in decentralized finance caused Ethereum to close seven…

Ethereum Could Soon Get “Launched” Past $400 as Technical Strength Grows

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Ethereum’s price action has been closely correlated to that of Bitcoin throughout the past few days. This has caused ETH to enter a consolidation phase as it trades just below $320. Although its slight decline seen overnight has led it to flash some signs of weakness, its macro outlook still remains incredibly bright. Analysts are noting that the cryptocurrency is about to close above a historically significant level, which may open the gates for a move up towards $400 in the near-term. While zooming out and looking at the cryptocurrency’s…

Market Wrap: Bitcoin Clings to $11,000 as Ether Futures Top $1B

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Bitcoin was little changed at around $11,000 with lower spot volumes as traders eye growth in the market for ether futures. Bitcoin was little changed at around $11,000 Thursday as traders digested reports the U.S. economy shrank during the second quarter at the fastest pace on record, and that President Donald Trump is wondering if the Constitutionally mandated November presidential election could be delayed.  Trading was light, with volume of about $113 million on the Coinbase exchange, after a price rally earlier this week led to a surge in volumes.…

Malaysia’s National Stock Exchange Conducts Blockchain PoC to Digitize Bond Market

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Malaysia’s national stock exchange, Bursa Malaysia will conduct a blockchain Proof-of-Concept (PoC) dubbed “Project Harbour” to explore the DLT management of the country’s bonds market. Project Harbour is an initiative that will leverage distributed ledger technology (DLT) to digitize and grow Malaysia’s offshore bonds market—the Labuan Financial Exchange (LFX), a wholly-owned subsidiary of Bursa Malaysia. According to the announcement on July 30, Malaysia’s national stock exchange will collaborate with Singaporean fintech firm Hashstacs who will develop the blockchain infrastructure to digitize the LFX bonds market. Malaysia First Movers Project Harbour…

Bitcoin Exchange Reserves Drop to a 12-Month Low Fueling Bullish Optimism

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The number of bitcoin held on exchanges has touched a 12-month low, as bitcoin exchange balances have reached levels not seen since June 2019. According to onchain statistics, there’s more than 2.6 million BTC held on global trading platforms worldwide. Data from a number of sources show that the bitcoin (BTC) held on exchanges has dropped to a low not seen in over a year. This statistic gives crypto proponents bullish optimism, as the last time BTC exchange balances were this low the price of bitcoin (BTC) jumped very close…

ConsenSys Labs and Protocol Labs Launch Filecoin Accelerator Program – Blockchain News, Opinion, TV and Jobs

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Filecoin, the world’s largest decentralized storage network, is collaborating with ConsenSys Labs, the venture arm of ConsenSys, to launch the Filecoin Launchpad Accelerator (FLA). Powered by Tachyon, the FLA will focus on startups building more open, interoperable, and programmable tools, infrastructure, and applications for the distributed web through IPFS and Filecoin. The Filecoin Launchpad will provide funding, one-on-one mentorship, and programming to accelerate the adoption of Filecoin within the Ethereum and DeFi ecosystems, and attract current web developers looking to integrate with an efficiently priced and geographically distributed storage network.…