If Bitcoin (BTC) was born in response to the systemic failures laid bare by one global financial crisis, then the subsequent rise of various decentralized networks can be seen as differences in opinion on the best way forward. All are in agreement that the existing financial system is broken, but are slightly at odds in terms of how to fix it. In a sense, each of these networks represents a new, if partial, vision of what could make for a better system. For instance, we’ve seen Celo leverage cryptographic tools…
Day: August 30, 2020
Ledger CTO discusses wallet’s safety after multiple security setbacks
Ledger, one of the crypto industry’s most popular hardware wallet providers, has faced multiple difficulties in recent weeks, including a breach in the company’s customer contact database and a wallet vulnerability putting users’ Bitcoin (BTC) at risk. Are the recent events simply a summation of a few difficult weeks, or is a larger unraveling at play? Charles Guillemet, the chief technology officer of Ledger, told Cointelegraph: “As far as the database breach, an attacker got access to a portion of our e-commerce and marketing database through a third party’s API…
Institutional crypto interest hasn’t been affected by COVID-19
The coronavirus pandemic has truly been a watershed event — not just for the financial industry but for the world at large. Many had plans and goals that they wanted to achieve before the year ran out but had to stop. Companies had to file for bankruptcy, and people lost their jobs. Like every sector of the global economy, the financial sector has also suffered significantly from the effect of the pandemic. Countries have been scrambling to keep their economies afloat, while people have been looking for means to stay…
Why This Ethereum-Based DeFi Coin Is Up 30% on the Day
Both Bitcoin and Ethereum have stalled, but it seems that altcoins are once again popping off. A swath of digital assets in the top 100 have gained dozens of percent in the past 24 hours, with some managing to even double. One such digital asset outperforming the market leaders is BZRX, the native token of the bZx Protocol. That cryptocurrency is up 30% in the past 24 hours, surmounting the value of $1.00 for the first time ever. BZRX, based on Ethereum, trades at $1.11 as of this article’s writing.…