Bitcoin Cash Index (BCX) Announcement

Source From https://research.tradeblock.com/bitcoin-cash-index-bcx-announcement/

The Bitcoin Cash network (BCH) regularly hard forks twice a year as part of a scheduled series of updates. The next hard fork is scheduled for Thursday, November 15, 2018. Unlike previous updates, the hard fork scheduled for tomorrow may result in two competing chains, Bitcoin ABC and Bitcoin SV. Bitcoin ABC follows the Bitcoin Cash roadmap that is published…

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Target and Google Official Twitter Accounts Hacked, Used for Crypto Scams

Source From https://bitcoinmagazine.com/articles/target-and-google-official-twitter-accounts-hacked-used-crypto-scams/

Twitter scams

In what is becoming an emerging trend, Twitter accounts of popular brands are being hacked in an attempt to scam unsuspecting users out of their cryptocurrencies.

Target and Google are two high profile targets that have seen their accounts taken over by hackers who, in turn, have used them to scam followers by advertising fraudulent crypto giveaways.

Target’s Twitter account, which is followed by nearly 2 million users, posted a tweet, confirming the hack which occurred on November 13, 2018. The retailer stated:

“Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now.”

Seemingly targeted by the hacking syndicate, Google’s G Suite Twitter account was breached hours after Target fell victim. The hack on Google was marked by the same tactics as the one that plagued Target — a scammy tweet ridden with typos promising free bitcoin to G Suite’s 800,000 followers.

A Google spokesperson confirmed the hack to Business Insider in a statement:

“This morning an unauthorized promoted tweet was shared from the G Suite account. We removed the tweet and are investigating with Twitter now.”

These incidents are a more sophisticated version of the Twitter scams that have become a constant nuisance for the cryptocurrency community. Typically, these scams include bad actors merely imitating popular figures in the crypto industry with near-identical profiles, though it’s rare for the real accounts themselves to be taken over to advertise the scams.

While it’s unclear how scammers are gaining access to the brands’ social media account, it’s obvious new measures are needed to combat the scams.

Criticized in the past for its failure to devise a clear defense against these incidents, Twitter is reportedly working on counter security measures to prevent similar breaches like the one witnessed by Target on its platform in the future.

Earlier this year, anti-fraud software company MetaCert released Cryptonite, a browser extension that safeguards users against fraudulent accounts.

This article originally appeared on Bitcoin Magazine.

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SAFE Crossroads #46, Connection Needs of an Autonomous Network, with Spandan Sharma

Source From https://letstalkbitcoin.com/blog/post/safe-crossroads-46-connection-needs-of-an-autonomous-network-with-spandan-sharma

Our guest today is Spandan Sharma from MaidSafe. We go over the results of the second community testing of Crust, the automated peer-to-peer connection library being developed by MaidSafe for the SAFE Network, and available for open source use by other P2P projects as they find useful.

In looking at all that the upper network layer needs the Crust connection level to do, we get a peek at the Routing level, which is the heart of the SAFE Network structure.

Enjoy.

Music

Music for this episode: Safe Crossroads Beta, an original piece composed and performed by Nicholas Koteskey of Two Faced Heroes

Links

MaidSafe

safenetwork.tech

SAFE Network School episode breaking down the XOR function, and a lot more related to the Routing level of the SAFE Network

Medium article: Why the Internet Needs Evolution (Again)

Proposal for Public Name System using RDF on the SAFE Network

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IMF: Central Banks Could Issue Digital Currency

Source From https://news.bitcoin.com/imf-central-banks-could-issue-digital-currency/

IMF: Central Banks Could Issue Digital Currency

Christine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.

Also Read: Bitcoin Group SE Buys Investment Bank Tremmel

Safe, Cheap and Semi-Anonymous Payments

“I believe we should consider the possibility to issue digital currency,” Lagarde said in a speech this week in the city-state, which is at the forefront of driving fintech innovation. “There may be a role for the state to supply money to the digital economy. The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous. And central banks would retain a sure footing in payments.”

IMF: Central Banks Could Issue Digital Currency

Cashless transactions have soared around the world in recent years, unsettling many of the control freaks who work for various governments. Bitcoin, for example, was created to challenge the conventional financial system and return the ownership of money to the people, beyond the reach of the state. But this vision has not endeared it to global financial gurus who are steeped in tradition. Unsurprisingly, many national governments have raised concerns about cryptocurrencies and have called for tighter regulation.

Citing the example of central banks in Canada, China, Sweden and Uruguay, which are all “seriously considering” the introduction of their own digital currencies, Lagarde said a state-issued cryptocurrency would be a liability of the state, just like fiat money. Such currencies could reduce the cost of transactions while maximizing security and spreading adoption. She stated:

The more people you serve, the cheaper and more useful the service. Private firms may under-invest in security to the extent they do not measure the full cost to society of a payment failure.

A More Competitive, Level Playing Field

Regulations may not be able to fully address these downsides, Lagarde said, but a digital currency could offer a number of advantages, particularly as a backup means of payment. “And it could boost competition by offering a low-cost and efficient alternative — as did its grandfather, the old reliable paper note,” Lagarde said. She added that although the case for virtual currencies “is not universal,” it should be investigated “seriously, carefully and creatively.”

IMF: Central Banks Could Issue Digital Currency

In addition, central banks could offer a more level playing field for competition, leaving space for private companies to concentrate on innovation. “Putting it another way, the central bank focuses on its comparative advantage — back-end settlement — and financial institutions and startups are free to focus on what they do best — client interface and innovation. This is public-private partnership at its best,” Lagarde claimed.

However, Lagarde’s calls for digital currencies sponsored by central banks are likely to be met with indignation by many cryptocurrency hardliners, who advocate the foundational principles of bitcoin. They tend to see bitcoin as a currency that was built for freedom by resisting any form of control, especially that exerted by governments. The involvement of a central bank could be viewed as intrusive, as it could mean that governments would impose unnecessary controls that might hinder transaction speeds, while sacrificing freedom and lower costs. Some legacy financial institutions and businesses have, nevertheless, been attracted to the use of blockchain technology, which underpins cryptocurrency settlements, to process transactions.

What do you think about Lagarde’s proposition? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post IMF: Central Banks Could Issue Digital Currency appeared first on Bitcoin News.

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Ripple Files to Move Securities Lawsuit from State to Federal Court

Source From https://bitcoinmagazine.com/articles/ripple-files-move-securities-lawsuit-state-federal-court/

Ripple Lawsuit Federal Court

Ripple’s legal team in their ongoing securities suit is attempting a new tack: to have the claim proceed at the federal level.

In a move that legal commentator Jake Chervinsky described as “seriously crafty,” Ripple has filed a formal notice-of-removal motion to have their most recent securities suit, Zakinov et al v. Ripple, tried in a federal court rather than at the state level.  

In the notice of removal, the defendants, which include Ripple and its CEO Brad Garlinghouse, among others, request that the court “remove the … civil action, and all claims and causes of action therein, from the Superior Court of the State of California, County of San Mateo, to the United States District Court for the Northern District of California.”

The class action is a consolidation of three separate suits filed by Vladi Zakinov, David Oconer and Avner Greenwald “on behalf of all California citizens who purchased or otherwise acquired XRP from January 1, 2013 to the present.” It claims that since Ripple has failed to register with the U.S. Securities and Exchange Commission (SEC), XRP has been sold as an unregistered security, and the combined class action is seeking nearly $17 million in damages.

Swamped with legal troubles, Ripple has sustained several legal challenges to their sale of XRP tokens, with many alleging that these token sales constitute securities fraud. Although Ripple has yet to face any serious consequences as a result of these battles, facing three securities suits in a single year could prove to be a serious strain on Ripple’s resources.

This latest attempt to plead their case at the federal level may set vital precedent, if successful. A federal clarification on the interaction of securities laws and token sales could shut down future cases before they even begin.

This appears to be the pretext for attempting to move this suit to a different court system, at least. As Chervinsky went on to elaborate, a suit argued on Ripple’s behalf in the state of California could also serve as a precedent to stop the tide of frivolous securities lawsuits levied at Ripple.

At this early stage in the fight, Ripple’s legal team could also believe “they have better odds of winning in federal court than in state court (or else they wouldn’t be trying so hard to remove the case),” Chervinsky continued.

To be clear, the notice of removal still needs to be approved by the Superior Court of the State of California, County of San Mateo, before it is bumped up to the federal circuit. Following the notice, the plaintiffs submitted a filing to request that the case persist at the state level.

This article originally appeared on Bitcoin Magazine.

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Thailand Uses Blockchain-Supported Electronic Voting System in Primaries

Source From https://bitcoinmagazine.com/articles/thailand-uses-blockchain-supported-electronic-voting-system-primaries/

Thailand Blockchain Voting System

Thailand’s Democrat Party has become the first political party to use blockchain technology to elect its leaders in a primary election, which was held from November 1–9, 2018. In a live e-voting system, more than 120,000 party faithful cast their votes in a transparent way that saw former Thai Prime Minister Abhisit Vejjajiva winning his party nomination with 67,505 votes.

Party members were able to vote using two methods. The first method was through voting stations that utilized a Raspberry Pi-based system. Voters were also able to vote via a blockchain-based mobile app that asked voters to submit their photo ID.

The identification documents used to verify party members and the voting tallies were both encrypted and stored on the InterPlanetary File System (IPFS), a decentralized and distributed file system for storing large volumes of data. IPFS uses a peer-to-peer protocol where nodes store a collection of hashed files on a network.

For this election, the IPFS hashes were stored on the Zcoin blockchain, which acted as an “immutable database and provided auditability to the Thai Election Commission and the Democrat Party candidates.”

“I am very proud that Zcoin played a role in making Thailand’s first large-scale e-vote, a reality, which saw greater voter participation and transparency,” Poramin Insom, founder & lead developer of Zcoin, noted in a public statement.

To keep the voting data and documents safe, the encryption keys were split using the Shamir’s Secret Sharing Scheme, which works similarly to a multi-sig key used for crypto wallets. With a multi-sig key, multiple private keys are required to access the funds.

With the Shamir Scheme, multiple custodians are required to decrypt the voting data. At the recently concluded primary election, five individuals were needed to decrypt the voting data; representatives of each candidate, an official from the Thai Election Commission and a representative from the Democrat Party.

“I believe we’ve achieved a huge milestone in our country’s political history and hope that other political parties or even the government, not just in Thailand but the region, can look to using blockchain technology in enabling large-scale e-voting or polling,” Insom stated.

Earlier this month, West Virginia ran a blockchain trial in the federal general election for military and other Americans living abroad. The state used the mobile app developed by blockchain startup Voatz to verify voters’ identities using facial recognition technology by comparing it to other photo ID that might have been uploaded on it during voter’s registration. Swiss city Zug ran a similar trial using a different app from uPort, which issued digital identities to residents who cast their votes using their smartphones.

Blockchain voting has its skeptics; however, a report from the Brookings Institution think tank, sees blockchain voting as a “beneficial tool for the election commission to maintain transparency in the electoral process, minimize the cost of conducting elections, streamline the process of counting votes and ensure that all votes are counted.”

This article originally appeared on Bitcoin Magazine.

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Bitmain Sues Anonymous Hacker Over $5.5 Million Theft

Source From http://cryptscout.com/news-portal/?id=20&ref=2401&utm_source=RSS&utm_medium=rss&utm_campaign=news-portal

n nn nn Chinese mining giant Bitmain is suing an anonymous hacker that allegedly stole $5.5 million in cryptocurrency last April from the companys account on the digital exchange Binance.The hackers identity is still unknown, and hes described only as John Doe in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the

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