Author Archives: creative

Researchers Explore Eclipse Attacks on the Ethereum Blockchain

An eclipse attack is a network-level attack on a blockchain, where an attacker essentially takes control of the peer-to-peer network, obscuring a node’s view of the blockchain. In a new paper titled “Low-Resource Eclipse Attacks on Ethereum’s Peer-to-Peer Network,” Sharon Goldberg, an associate professor at Boston University; Ethan Heilman, a Ph.D. candidate at Boston University; and Yuval Marcus, a researcher at the University of Pittsburgh, describe a way to carry out an eclipse attack on the Ethereum network. (The researchers disclosed their attacks to Ethereum on January […]

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Liechtenstein’s Bank Frick Introduces ‘Direct’ Cryptocurrency Investment And Cold Storage

Direct investment and storage of Bitcoin and five altcoins are now on offer at Liechtenstein’s Bank Frick. Liechtenstein lending institution Bank Frick now offers “direct investment” and cold storage of five cryptocurrencies, it announced in a press release Feb. 28, noting it is the “first” financial instituion in the country to do so. Aimed primarily at “professional market participants and financial intermediaries,” according to Frick, investment and storage is offered for Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ether. The bank, which was founded in 1998, has sought […]

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Over 100 Firms Seek Licenses to Operate Cryptocurrency Exchanges in Japan

There are over 100 companies reportedly waiting for the Japanese Financial Services Agency to approve their registrations to operate cryptocurrency exchanges. While only 16 exchanges are fully licensed in Japan, the agency has allowed another 16 to operate without a license for the time being. However, going forward, only those with sufficient safety and customer protection measures are likely to be approved. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 100+ Firms Have Applied The Japanese Financial Services Agency (FSA) has been busy with […]

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SEC Sends Wave of Subpoenas to ICOs, Including Overstock’s tZERO

On February 28, 2018, The Wall Street Journal reported that the SEC decided to cap off the month the way the top U.S. financial regulator started it: targeting ICOs. On Wednesday, the Journal report stated that “scores” of subpoenas and information requests were sent out demanding details about the structure of sales and pre-sales of ICOs. While the article specifically mentions that the SEC has declined to comment and cites nebulous anonymous sources, the probes reportedly sought the subpoenas and requests from tech companies and advisers involved […]

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Louisiana Attorney General Fires IT Staff for Allegedly Mining Bitcoin

It appears that the allure of free electricity and computer systems, courtesy of the tax payers, might be too hard for some government workers all over the world to resist. After it was recently revealed that Russian nuclear scientists were arrested for mining bitcoin on the job, now it is reported that American IT staff apparently lost their jobs for doing the same in Louisiana. Also Read: British Man in Amsterdam Allegedly Laundered €11.5m in Bitcoin Drug Money Mining Bitcoin in Louisiana Louisiana’s Attorney General is reportedly […]

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Circle-Poloniex Deal Presages the Future of Cryptocurrency Exchanges

When it was announced on Monday that Circle would be acquiring Poloniex, much of the focus was on the $400 million reported to have changed hands. It was a good bit of business for both parties, ran the general consensus, and not a bad deal for customers of the exchange either, who might finally experience something resembling customer service. The ramifications of the deal extend far further, however, hinting at the shape of U.S. cryptocurrency trading to come. Also read: Cryptocurrency Exchange Poloniex Has Been Bought by Circle […]

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Japan’s Banking Giant SBI Delays Launch Of Crypto Exchange To ‘Strengthen Security’

Japanese financial service giant SBI Holdings announced it is postponing the launch of its cryptocurrency exchange to “strengthen security measures”. Japan’s financial services conglomerate SBI Group announced in a post on its site Tuesday, Feb. 27 that it has to postpone the launch of its planned cryptocurrency exchange. In the public announcement, SBI apologized for the delay and explained that the company had to postpone the launch of the exchange for security improvement purposes. “We decided that it will take some extra time to further strengthen security […]

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Singapore: Central Bank ‘Assessing’ Need For More Cryptocurrency Regulation

Cryptocurrency regulation may be on the horizon in Singapore as authorities look closer at “investor protection.” Singapore’s central bank has said it is again looking at cryptocurrency regulation, appearing to amend previous comments about a hands-off approach, Reuters reported Thursday, March 1. Part of a speech quoted by various publications Thursday saw the Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee note an “assessment” about possible new regulations of cryptocurrency in the city-state. “We are assessing if additional regulations are required for investor protection,” […]

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India: Two Crypto Exchanges Halt Trading, Blame ‘Discouraging’ Government Stance

Crypto exchanges BTCXIndia and ETHEXIndia will stop their crypto trading by March 1 and 5 respectively, citing the government’s stance on crypto. Crypto exchanges BTCXIndia and ETHEXIndia have informed their customers via email that they are stopping trading activities, citing the “stress” on their business caused by governmental actions discouraging crypto, local Indian news outlet the Economic Times reported yesterday, Feb. 28. BTCXIndia and ETHEXIndia’s websites both currently display a message to customers informing them that any deposits received after Jan.1 will automatically be sent back to […]

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How Banking Institutions Can be Decentralized, Explained

New, P2P, type of banking with Blockchain, cryptocurrencies, Machine Learning, Big Data and smart contracts. How does decentralized banking look? Decentralized banking is a term that has been construed in the wake of the cryptocurrency boom.   That is because cryptocurrencies are the first intelligent asset that can create such a tool.   And because of this, many are referring to decentralized banking as “crypto banking.” Cryptobanks are decentralized platforms that provide the usual services that centralized banks provide, primarily lending services and credit scoring, but essentially […]

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