Friday, June 8, 2018

Attack wave

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June 8, 2018

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THE FEATURE

Blockchain's Once-Feared 51% Attack Is Now Becoming Regular

Monacoin, bitcoin gold, zencash, verge and now, litecoin cash.

At least five cryptocurrencies have recently been hit with an attack that used to be more theoretical than actual, all in the last month. In each case, attackers have been able to amass enough computing power to compromise these smaller networks, rearrange their transactions and abscond with millions of dollars.

More surprising, though, may be that so-called 51% attacks are a well-known and dangerous cryptocurrency attack vector.

While there have been some instances of such attacks working successfully in the past, they've been so rare, some technologists have gone as far as to argue miners on certain larger blockchains would never fall victim to one. The age-old (in crypto time) argument? It's too costly and they wouldn't get all that much money out of it.

But that doesn't seem to be the case anymore.

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Wait, there's more:

Mizuho Financial's Blockchain Lead Is Leaving the Firm
The blockchain lead at Mizuho Financial Group has revealed he is leaving the firm for a new role in Singapore.

Mastercard Patent Would Put Credit Cards on a Public Blockchain
A patent filing from Mastercard explores how to use public blockchains to securely verify card credentials at the point of sale.

Which Way? Bitcoin's Low Volatility May Force Big Move
Bitcoin could be in for a big move as the daily trading range tightens, but will the bulls or the bears gain the upper hand?

Search Giant Baidu Is Launching a Blockchain Space Game
The Chinese search giant is this week launching a blockchain game aimed to educate people about possibilities of crypto technology.

Binance Leads $12 Million Investment In AngelList Crypto Spin-Off Republic
A platform for managing token sales, spun out of the famed investment platform AngelList, has raised funds from a notable cast of investors.

Quebec Halts Crypto Mining Approvals Pending New Restrictions
Quebec has halted approvals for new cryptocurrency mining operations while it draws up new rules and may raise energy costs.

Alibaba Affiliate to Boost Blockchain Development After $14 Billion Raise
Alibaba's Ant Financial has raised $14 billion in a new funding, part of which will be used to continue its development of blockchain technology.

Blockchain's Once-Feared 51% Attack Is Now Becoming Regular
At least five cryptocurrencies have recently been hit with a 51% attack, a vulnerability users used to scoff at.

Registration for Dfinity's 'Biggest Airdrop Ever' Is Closing Soon
Startup DFINITY claims to be carrying out the largest airdrop ever.

Putin: Russia Should Explore Blockchain to Avoid Finance 'Limitations'
Russian president Vladimir Putin is still skeptical about cryptocurrencies, he said Thursday.

NYDFS Chief Defends State Regulator's Crypto Approach
New York Department of Financial Services superintendent Maria Vullo defended regulators' actions in the crypto space during a panel discussion.

Potcoin Might Sponsor Dennis Rodman's Trip to Trump-Kim Summit
Former NBA star Dennis Rodman is in talks with cryptocurrency startup PotCoin to have the latter sponsor a trip to the U.S.-North Korea summit.

'Just Beware' Is All Jamie Dimon Will Say About Bitcoin
Jamie Dimon once called bitcoin a fraud – now he's saying "just beware."

'Dungeon Defenders' Game Maker to Integrate Blockchain In Sequel
The developer behind Dungeon Defenders II will integrate a blockchain with the game's rewards system.

Japan Blasts Crypto Exchange Execs in First-Ever License Rejection
Japan's financial regulator has formally issued its first denial to a business registration application filed by cryptocurrency exchange FSHO.

FOAM and the Dream to Map the World on Ethereum
CryptoKitties meets Pokemon Go? That's FOAM's initial goal, but the team thinks its decentralized location-tracking tech has more serious potential.

Bullish Signals Hint at Bitcoin Price Breakout
Still stuck in a narrowing price range, BTC could rise to $8,870 if the bulls are able to beat the 50-week moving average resistance.

Dutch Central Bank: Blockchain 'Promising But Inefficient' in Payments
Blockchain technology isn't yet a beneficial addition to the payment system in the Netherlands, according to the country's central bank.

Software Giant SAP Launches Blockchain-as-a-Service Platform
SAP is the latest tech giant to have rolled out a technology framework aimed to let enterprise build blockchain-based applications.

Thailand Trials Central Bank Digital Currency for Interbank Settlement
Thailand's central bank is examining how a blockchain-based digital currency could make interbank settlement both faster and cheaper.
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