Tech

There is an inherent lack of trust in the decentralized network and Proof of Work consensus algorithm of Bitcoin. Nevertheless, Bitcoin’s growth turned it to the leading asset worldwide, thereby bringing up issues like scalability. Hence, second-layer solutions such as the Lightning network have been introduced to solve the problem. The question now is about possible depletion of the trustless domain on which Bitcoin is based on by the Lightning network. Lisa Neigut of Blockstream spoke on the Stephen Livera podcast concerning Lightning network…

On April 24, the office of the U.S. Attorney for Columbia District was authorized to seize coronaprevention.org.  The Department was directed to detect, investigate, and prosecute the illicit conduct of the website’s owner which is related to the COVID-19 pandemic. The seizure of coronaprevention.org website was due to the alleged attempt by its owner to sell the domain for Bitcoin. According to the United States authorities, the unidentified owner of the website attempted to sell the domain to an undercover…

The backdrop of current worldwide economic trouble is a concern when it comes to the performance of Bitcoin. However, up till this moment, Bitcoin has done well such that it posted year-to-date gains while the performance of equities market is still well beneath its level in the beginning of 2020. At the moment, there are two swiftly emerging events which may prompt both prevalent adoption and accumulation for Bitcoin. These two events have the potential to bolster the benchmark cryptocurrency…

The cryptocurrency futures market has been experiencing a shakeup since the cryptocurrency market crash which happened on March 12. The market crash led to the decision by BitMEX to lose some of its futures marketplace to Binance, says the cryptocurrency intelligence company Coin Metrics. Reports have it that BitMEX experienced two distributed denial-of-service (DDoS) attacks during the market crash last month. The attacks led to late processing of market orders and 156 accounts sustained losses. Since then, BitMex has lost market volume…

Scammers have looted thousands of XRP users using fake 50 million XRP giveaway. Numerous posts of the fake giveaway are attached to random tweets on Twitter, with the aim of misleading people into taking part in scam activities. XRP data aggregator (xrplorer.com) noted on Twitter that people withdrew 6 million XRP from exchanges and sent them for giveaway scams. Interestingly, this figure was close to 3 million XRP this year. “Do you want to protect your users against scams? You can! In…

Scammers continue to leverage the current pandemic to perpetrate their malicious activities. It is such that the national internet authority shut down more than 2,000 online scams associated with COVID-19 last month. A deeply shocking 471 fake e-commerce stores selling fake Coronavirus materials were shut down. They have also taken down numerous phishing scams and advance-fee frauds. Due to the rising scams, the United Kingdom’s National Cyber Security Centre (NCSC) is still raising awareness and warning citizens regarding the risks. According to the U.K. Minister for Security,…

An official press release by RippleNet member and fintech platform NIUM announced a partnership with a payment technology firm known as Geoswift. The purpose of the partnership is connecting China to the world. That is, NIUM users will be able to leverage RippleNet for money remittances into China. Fourteen banks in China will also enjoy real-time services. Among them are Bank of China, Bank of Shanghai, and the Industrial and Commercial Bank of China. Likewise, the partnership avails consumers and businesses the opportunity to…

Huobi continues to issue more of its stablecoin. Today, 04/20, Huobi’s stablecoin minted another 4.2 million HUSD. Whale Alert reported that the stablecoin was issued earlier today: “4,200,000 #HUSD (4,200,000 USD) minted at HUSD Treasury Tx: https://whale-alert.io/transaction/ethereum/b271523007cd8bc5cc1aa9779318dd331e193bfb5a0dee2a345cb8133d6575d6” Based on today’s date, it seems it is not a coincidence that it minted such an amount of stablecoin. The $4.2M stablecoin was issued in honor of today’s little ‘holiday.’ Huobi’s stablecoin has been kind of quiet for some time, but it once again started…

Venture Smart Asia’s blockchain arm, Arrano Capital, has launched Hong Kong’s first approved cryptocurrency fund. The launch targets $100 million and offers an officially sanctioned window for institutional investors in Bitcoin. The announcement emerged on Monday, after it cleared the licensing conditions which allows dealing in virtual assets with the Securities and Futures Commission. In 2019, local regulators began to find means of exerting oversight over the cryptocurrency industry. This is the first time of approving such fund since then. Before now, the…