Few new technologies have raised as much discussion as blockchain. One reason is the controversy, concern, and perceived opportunity around blockchain-based cryptocurrencies (such as bitcoin and ether) and crowdfunding via initial coin offerings (ICOs). But what is blockchain’s role in the enterprise?
This article gives some ideas to think about. Take those trends with grain of salt. There will be a crash ans bubble burst on blockchains in few years.
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Tomi Engdahl says:
http://www.etn.fi/index.php/13-news/9261-komponentteja-voi-nyt-ostaa-kryptovaluutalla
Tomi Engdahl says:
Wolfie Zhao / CoinDesk:
Cryptocurrency mining equipment maker Bitmain’s application for an IPO on the Hong Kong Stock Exchange has now officially expired
Crypto Mining Giant Bitmain’s IPO Application Has Officially Expired
https://www.coindesk.com/crypto-mining-giant-bitmains-ipo-application-has-officially-expired
Cryptocurrency mining equipment maker Bitmain’s application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) has officially lapsed, meaning no such transaction is happening anytime soon.
According to an update on the HKEX’s website, Bitmain’s case has been moved to a group of “inactive” applications and is now labeled as lapsed, six months after the company filed the prospectus on Sept 26.
If it still wishes to pursue a listing, Bitmain can re-file the application, but the company would be required to provide additional financial records beyond what was included in its initial filing.
The application drew wide attention last fall as Bitmain disclosed eye-popping profit growth over the past several years. For instance, just for the first half of 2018, the mining giant brought home a net profit of nearly $1 billion, after having made over $1 billion for all of 2017.
Despite such rapid growth in the bottom line, reflecting the surging cryptocurrency market of 2017, the HKEX was hesitant to approve applications from Bitmain and its mining rivals Canaan Creative and Ebang, due to the industry’s volatility.
As of June 30, 2018, Bitmain had a $715 million liability on its balance sheet labeled “redeemable, convertible and preferred shares,” resulting from its Series A and Series B funding rounds closed over the past two years. This amount accounted for nearly half the company’s total liabilities at the time.
Tomi Engdahl says:
More Than Bitcoin: 8 Industries Being Innovated by Blockchain
https://www.designnews.com/automation-motion-control/more-bitcoin-8-industries-being-innovated-blockchain?ADTRK=UBM&elq_mid=8005&elq_cid=876648
While blockchain has become synonymous with Bitcoin and other cryptocurrenices, the technology actually has far reaching potential across industries ranging from manufacturing to healthcare, and even entertainment.
Tomi Engdahl says:
Bitcoin exchange DragonEx ‘hacked for undisclosed amount’
https://thenextweb.com/hardfork/2019/03/26/bitcoin-exchange-dragonex-hacked-for-undisclosed-amount/
Another day, another hack
Tomi Engdahl says:
Wolfie Zhao / CoinDesk:
South Korean crypto exchange Bithumb says around $13M in the EOS cryptocurrency has been stolen in a hack it suspects was an insider job
Crypto Exchange Bithumb Hacked for $13 Million in Suspected Insider Job
https://www.coindesk.com/crypto-exchange-bithumb-hacked-for-13-million-in-suspected-insider-job
South Korean crypto exchange Bithumb has had around $13 million in the EOS cryptocurrency stolen in a hack it suspects was an insider job.
The company confirmed in statement on Saturday that it first spotted an “abnormal withdrawal” of the cryptocurrency through its monitoring system at 22:00 Korean time (13:00 UTC) on Friday, March 29.
The exchange suspended asset withdrawals and deposits on the platform after noticing the breach.
Bithumb stated:
“All the [stolen] cryptocurrency is owned by the company, and all members’ assets are under the protection of a cold wallet.”
Tomi Engdahl says:
https://www.tivi.fi/Kaikki_uutiset/kryptohuijarit-veivat-suomalaiselta-pariskunnalta-120-000-euroa-selkea-taman-hetken-rikosilmio-6762475
Tomi Engdahl says:
Commando VM: The First of Its Kind Windows Offensive Distribution
https://thehackernews.com/2019/03/bithumb-cryptocurrency-hacked.html
Tomi Engdahl says:
More Than Bitcoin: 8 Industries Being Innovated by Blockchain
https://www.designnews.com/automation-motion-control/more-bitcoin-8-industries-being-innovated-blockchain?ADTRK=UBM&elq_mid=8043&elq_cid=876648
While blockchain has become synonymous with Bitcoin and other cryptocurrenices, the technology actually has far reaching potential across industries ranging from manufacturing to healthcare, and even entertainment.
Blockchain isn’t all about being serious. It can also enhance our video game experience. Any gamer will tell you a big part of many online games is rarity. In many games, having items that few or no other players have is what separates true veterans from newbies. There are already examples of blockchain being implemented into games and the disruption will likely only continue.
CryptoKitties is a game in which players collect and breed rare cats. Think of it like Pokemon for people who are obsessed with exclusivity. By implementing blockchain, the game is able to offer rare, one-of-a-kind digital kitties to players that cannot be replicated anywhere else or stolen. Blockchain creates digital scarcity, allowing CryptoKitties to function like baseball cards, Beanie Babies, Funko Pops, or any other real-world collectable.
Swace, is a blockchain-based social media gaming platform that leverages blockchain to verify users’ identities, allowing third-parties to create games and interactive experiences taylor-made for users. An augmented reality game could build around players accomplishing specific tasks around their location, for example. Blockchain allows all of this to be done in a way that both verifies and protects users identities – thus ensuring fairness and safety during gameplay.
(Image source: CryptoKitties)
For those just beginning to understand blockchain technology it may seem that its that same thing cryptocurrency, particularly Bitcoin. What’s lesser understood is that blockchain is not cryptocurrency, merely the technology that allows cryptocurrencies to exist.
A 2018 report by ResearchandMarkets expects the overall blockchain market to be worth $7.8 million by 2022.
Tomi Engdahl says:
The Blockchain – Not As Secure As You Think
How blockchains work and what are the security risks.
https://semiengineering.com/the-blockchain-not-as-secure-as-you-think-2/
https://info.rambus.com/the-blockchain-not-as-secure-as-you-think
Tomi Engdahl says:
Mine Cryptocurrencies Sooner, Part 2
https://semiengineering.com/mine-cryptocurrencies-sooner-part-2/
What lessons have newer cryptocurrencies learned from Bitcoin that make them friendlier to FPGAs?
Tomi Engdahl says:
The most important developments in Crypto 2.0
https://techcrunch.com/2019/03/27/the-most-important-developments-in-crypto-2-0/
From digital nomads to blockchain, what will it take for an internet nation-state to form?
Jon Evans
Tomi Engdahl says:
How does blockchain works??
https://haxnology.com/how-does-blockchain-works/
Tomi Engdahl says:
Police use AI to track down cryptocurrency Ponzi scheme swindlers
The perpetrators allegedly scammed $18.7 million from the elderly and retirees.
https://www.zdnet.com/article/police-use-ai-to-track-down-cryptocurrency-ponzi-scheme-swindlers/
Tomi Engdahl says:
David Canellis / The Next Web:
Bitcoin wallet Electrum hit by DoS attack with the attackers apparently directing users to download “backdoored” versions of Electrum to steal their bitcoin — The servers of popular Bitcoin wallet Electrum are under heavy attack, and users are advised to be extra careful when using the pl
Bitcoin wallet Electrum hit by DoS attack from 140,000-strong botnet
https://thenextweb.com/hardfork/2019/04/08/bitcoin-wallet-electrum-dos-attack-botnet-phishing/
A sophisticated DoS campaign is forcing Electrum servers offline
Tomi Engdahl says:
https://www.tivi.fi/uutiset/tv/36d731e3-6c31-4641-b1a7-e69877a19760?ref=ampparit:eff5
China could soon ban cryptocurrency mining: Report
https://www.zdnet.com/article/china-could-soon-ban-cryptocurrency-mining-report/?_ga=2.50099043.451955122.1554874713-823292296.1534855651
The South China Morning Post has reported the country’s economic planning body is moving to ban cryptocurrency mining facilities.
China is looking to ban cryprocurrency mining, with the National Development and Reform Commission (NDRC) proposing new laws that consider cryptocurrency mining facilities to be a waste of resources and adding pollution.
Tomi Engdahl says:
Regulators in China are weighing a ban on Bitcoin mining
https://techcrunch.com/2019/04/09/china-considers-ban-crypto-mining/?tpcc=ECFB2019
Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered a drag on the country’s economy.
Tomi Engdahl says:
Pete Rizzo / CoinDesk:
How Binance has taken advantage of the cyclical nature of the cryptocurrency market and its ebbs and flows to build a scalable and impactful business
The Unbelievable Brilliance of Binance
https://www.coindesk.com/the-unbelievable-brilliance-of-binance
The Unbelievable Brilliance of Binance
Pete Rizzo
Pete Rizzo
Apr 10, 2019 at 04:00 UTC
Updated Apr 10, 2019 at 14:41 UTC
opinion
Pete Rizzo is editor in chief for CoinDesk.
Whatever people make of the cryptocurrency exchange Binance and its leader, Changpeng Zhao, the company’s success isn’t just unprecedented, it’s precedent-setting.
Binance, I would argue, is emerging as the case study for growing a cryptocurrency business, a success that’s much needed in a community that spends too much time talking up the potential of its technology and too little time analyzing viable go-to-market strategies that can drive the technological sea change we foresee.
Tomi Engdahl says:
Brady Dale / CoinDesk:
Report: blockchain startup incubator ConsenSys’ pitch deck forecasts $100M burn rate for 2019, says it had $21M in revenue in 2018, projecting $52.3M in 2019 — ConsenSys believes it can become a valuable company, provided it can get through the next year.
ConsenSys Pitch Deck Forecasts $100 Million Burn Rate for 2019
https://www.coindesk.com/consensys-pitch-deck-forecasts-100-million-burn-rate-for-2019
ConsenSys believes it can become a valuable company, provided it can get through the next year.
As The Information first reported Monday, the company is seeking approximately $200 million in new investment. However, ConsenSys also projects $152 million in expenses in 2019, with $52 million in revenue, for an estimated $100 million cash burn, according to an investor deck obtained by CoinDesk.
Tomi Engdahl says:
How Mueller used Bitcoin to catch Russia
https://edition.cnn.com/2019/04/19/tech/bitcoin-mueller-russia/index.html
Russian operatives used cryptocurrency at almost every stage in their online efforts to interfere in the 2016 U.S. presidential election, according to Special Counsel Robert Mueller’s final report on his investigation.
Systems used in the hacking of the Democratic Party were paid for using Bitcoin, as were online hosting services that supported websites which published hacked materials and were used in the targeting of disinformation at American voters.
Tomi Engdahl says:
Civic Inks Deal to Bring Blockchain ID to 1,000 Vending Machines
https://www.coindesk.com/civic-inks-deal-to-bring-blockchain-id-to-1000-vending-machines
It started with selling beer, but age verification could crack open a whole industry to cryptocurrency.
CoinDesk previously reported on the demonstration of Civic’s beer-selling machinery at this year’s South by Southwest (SXSW). Now the company is announcing partnerships with 12 major automated retail companies
The 12 partners control more than a million internet-connected vending machines, according to Civic. The identity startup expects the technology to be used in 1,000 machines by the end of 2019.
Stablecoin solution
Lingham told CoinDesk the company expects to use Gemini’s GUSD in the Civic Pay app (and perhaps others, later).
Stablecoins don’t have the volatility of other cryptocurrencies (such as Civic’s own CVC token), so when customers buy something through the Civic Pay app, they will most likely use GUSD (purchased through Civic) to pay for it. Participating merchants will receive the stablecoin and a much lower transaction fee.
Tobacco, alcohol and hemp-related products will establish Civic’s beachhead in the automated retail sector, Lingham told CoinDesk.
While not necessarily age-gated, there are a variety of products that many users need frequently (for example, asthma medication, insulin or prescription antihistamines) that require identity verification. Today, this is done by visiting a pharmacy counter, but Lingham says Civic is in talks to bring its technology to this vertical, though the timeline is much further out.
“This is where it’s going. It’s not there yet,” Lingham said.
Tomi Engdahl says:
Pinterest employee #1 launches blockchain art market MakersPlace
https://techcrunch.com/2019/04/24/makersplace-blockchain-art/
Tomi Engdahl says:
Matt Levine / Bloomberg:
How Bitfinex lost access to $850M it held with the shady Panama-based payments processor Crypto Capital and tried to cover the loss by borrowing from Tether — Also Uber, Slack and mortgage settlements. — Matt Levine is a Bloomberg Opinion columnist covering finance.
Things Got Weird for Stablecoin Tether
https://www.bloomberg.com/opinion/articles/2019-04-26/things-got-weird-for-stablecoin-tether
Yesterday evening, the Office of the Attorney General of New York State announced an absolutely bananas lawsuit against Bitfinex and Tether. Bitfinex is a cryptocurrency exchange, and Tether, “which is owned by the same small group of insiders that own and operate Bitfinex,” is the issuer of a cryptocurrency also called Tether (or USDT). That cryptocurrency is a “stablecoin,” meaning that one Tether is supposed to be worth exactly one U.S. dollar, a ratio that is maintained, Tether claims
Frank Chaparro / The Block:
NY State AG sues Bitfinex for allegedly using Tether reserve funds to cover withdrawals, after the loss or theft of ~$851M from Bitfinex’s payments processor
NY Attorney General sues Bitfinex and Tether to unearth “fraud being carried out” by the firms
https://www.theblockcrypto.com/2019/04/25/ny-attorney-general-sues-bitfinex-and-tether/
Update: Bitfinex has issued an official response, saying the “court filings were written in bad faith and are riddled with false assertions.” They further deny the loss of $850 million from Crypto Capital and instead claim the funds have been “seized and safeguarded.”
Tomi Engdahl says:
Mike Dudas / The Block:
Report: Facebook seeks ~$1B from financial firms and e-commerce sites to back its stablecoin as it readies its payments network and rewards system for users
Project Libra: Facebook to launch stablecoin-based payments network
https://www.theblockcrypto.com/tiny/project-libra-facebook-to-launch-stablecoin-based-payments-network/
Facebook’s long-rumored stablecoin will be at the center of a brand new payments network, according to a report in The Wall Street Journal.
Tomi Engdahl says:
Hackathon Winners Present Diverse Solutions
https://www.eeweb.com/profile/eeweb/news/hackathon-winners-present-diverse-solutions
DutchChain has named the winners of its Odyssey open innovation program, billed as the largest blockchain and AI hackathon in the world. The four-day event connects innovative ideas with government, corporate, and nonprofit partners to solve complex challenges using blockchain, artificial intelligence, and other emerging technologies.
Tomi Engdahl says:
Bitcoin a Buy, Says Strategist Who Called Late-2018 Breakdown
https://www.bloomberg.com/news/articles/2019-05-03/bitcoin-a-buy-says-strategist-who-called-late-2018-breakdown
Bitcoin is in the middle of a sustained recovery and investors should use recent weakness to buy more, according to Fundstrat technical strategist Robert Sluymer.
“Use pending pullbacks to continue accumulating Bitcoin in the second quarter in anticipation of a second-half rally through ~6,000 resistance,” Sluymer wrote in a note May 2. He sees Bitcoin’s rebound from its 200-week moving average and breakout from its first-quarter trading range as “the early stage of a longer-term recovery developing.”
Tomi Engdahl says:
Merkittävä bitcoin-käänne tapahtui: ”Ostakaa lisää!”
https://www.tivi.fi/uutiset/tv/5d51d549-3fff-43e9-afaf-1afaaf1aa4fd
Tomi Engdahl says:
[2016] InternetS of Energy – Call me DAISEE
https://hackaday.io/project/10879-2016-internets-of-energy-call-me-daisee
Decentralized Autonomous Interconnected Systems for Energy Efficiency – A blockchain based energy DAO
Tomi Engdahl says:
Frederic Lardinois / TechCrunch:
Microsoft launches Azure Blockchain Service, a fully managed service meant to help businesses build applications on top of blockchain technology — Microsoft didn’t rush to bring blockchain technology to its Azure cloud computing platform, but over the course of the last year …
Microsoft launches a fully managed blockchain service
https://techcrunch.com/2019/05/02/microsoft-launches-a-fully-managed-blockchain-service/
Azure Blockchain Services, a fully managed service that allows for the formation, management and governance of consortium blockchain networks.
Tomi Engdahl says:
Kyle Samani / Multicoin Capital:
Broad trends in crypto: open finance with programmable units of value, Web3 empowering users to control their data, global money free of national affiliation
Crypto Mega Theses
https://multicoin.capital/2019/04/24/multicoin-investment-thesis/
Multicoin Capital’s investment thesis, the “Crypto Mega Theses,” was first presented at the Spring 2019 Multicoin Summit. Watch the full presentation
Introduction
Open, distributed ledgers and permissionless, censorship-resistant, trust-minimized computation are going to reshape massive sectors of the global economy. This belief led us to found Multicoin Capital in 2017, and after spending two years with entrepreneurs, business leaders, and investors in this space, we’ve developed more conviction in this thesis than ever before.
Over the last few years, the breadth of use cases within the crypto ecosystem has exploded. Given this breadth, it can be difficult to define the underlying macro theses when use cases span non-seizable assets, censorship-resistant prediction markets, peer-to-peer wireless networks, new online advertising systems, and jurisdiction-less enterprises.
The purpose of this essay is to define and articulate the three mega investment theses for crypto. We define mega investment theses as those in which the addressable market is measured in the trillions of 2019 USD.
Tomi Engdahl says:
Tim Copeland / Decrypt:
Tracing the origins of Crypto Capital, a shady payments processor behind the Bitfinex’s $850M shortfall, that many call “the central bank of crypto”
The story of Crypto Capital’s dark past and its deep ties with the crypto industry
https://decryptmedia.com/6824/crypto-capital-follow-up-article/
Crypto Capital worked with organizations associated with financial crime, money laundering and securities fraud—and major crypto exchanges too.
Tomi Engdahl says:
Jaguar Land Rover to let Drivers Earn Cryptocurrency for Data
https://somethingdecent.co.uk/news/cryptocurrency/jaguar-land-rover-to-let-drivers-earn-cryptocurrency-for-data/
Tomi Engdahl says:
Nikhilesh De / CoinDesk:
Binance says it discovered a “large scale security breach”, with hackers withdrawing ~$41M in bitcoin and taking user API keys, 2FA codes, and potentially more — Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world’s largest by volume, the startup reported Tuesday.
Hackers Steal $40.7 Million in Bitcoin From Crypto Exchange Binance
https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance
Tomi Engdahl says:
Ian Allison / CoinDesk:
QEDIT, which uses zero-knowledge proofs to enhance the privacy of enterprise blockchains, raises $10M Series A from MizMaa Ventures, Ant Financial, others
Alibaba’s Ant Financial Backs $10 Million Round for Blockchain Privacy Startup
https://www.coindesk.com/alibabas-ant-financial-backs-10-million-round-for-blockchain-privacy-startup
QEDIT, a developer of privacy technology for enterprise blockchains, has closed a $10 million Series A round from investors including Ant Financial, the payments affiliate of Chinese e-commerce giant Alibaba.
Ant Financial will also be incorporating QEDIT’s zero-knowledge proof (ZKP) tech into its blockchain projects, the companies announced Tuesday. Other high-profile partnerships applying QEDIT’s ZKPs include software giant VMWare and RGAX, a subsidiary of Reinsurance Group of America.
Tomi Engdahl says:
Blockchain IoT solutions
https://openledger.info/solutions/blockchain-iot/?gclid=EAIaIQobChMIzpqFo5WR4gIVjsqyCh03NwtPEAAYAiAAEgLJi_D_BwE
Blockchain makes the Internet of Things tamperproof, transparent and secure. Enhance business operations with real-time data about customers, assets, locations and environments, supported by accelerated digital transactions and end-to-end process traceability.
Tomi Engdahl says:
Jonathan Shieber / TechCrunch:
Some theories around why Bitcoin has surged above $8,000, from increased adoption and technological advances to good old-fashioned price manipulation — Bitcoin is now trading at around $8,130, up a whopping 60.84 percent over the past month, with the price surging $3,086.14 over the period.
Bitcoin has surged above $8,000 and theories around why abound
https://techcrunch.com/2019/05/14/bitcoin-shrug-emoji/
Tomi Engdahl says:
Will Blockchain handcuff the hackers and cut corruption?
https://www.electropages.com/blog/2019/05/will-blockchain-handcuff-hackers-and-cut-corruption?utm_campaign=2019-05-13-Electropages-Email-Newsletters&utm_source=newsletter&utm_medium=email&utm_term=article&utm_content=Will+Blockchain+handcuff+the+hackers+and+cut+corruption%3F
The shady environment that sometimes surrounds cryptocurrencies may have impacted upon the public’s perception of Blockchain, but in reality it has real value when it comes to transforming the management of assets, either tangible or intangible, and smart cities will have a lot of both.
because Blockchain is immutable, it can create secure, fast, trustworthy and transparent solutions that can be public or private. What this means to smart city/facility/home developers is that any asset-oriented aspects of a municipality can be digitised and made more secure and functional. Each developing smart city will comprise a multitude of different machines – from grid-level infrastructure (such as that involved in metering and energy management) all the way to the individual IoT-enabled devices in the hands of the citizens.
An intelligent management framework will be required. This will mandate secure asset tracking, user accountability and real-time management – and Blockchain can clearly contribute to all of these.
Tomi Engdahl says:
Matthew Leising / Bloomberg:
Chainalysis research estimates that about 376 users, known as “whales”, control a third of all Ether, compared to 448 people who own 20% of all Bitcoin
Just 376 People Found to Own a Third of All Ether Cryptocurrency
https://www.bloomberg.com/news/articles/2019-05-15/just-376-people-found-to-own-a-third-of-all-ether-cryptocurrency
Large holders are known in the crypto market as “whales,” which Chainalysis defines as individuals who hold their assets in digital wallets and not on an exchange, Kim Grauer, a senior economist at the company, said in an interview. By comparison, 448 people own 20 percent of all Bitcoin, she said.
Tomi Engdahl says:
Security Research Labs:
Many Ethereum nodes running popular clients like Parity and Geth take months to apply security patches, which may leave the network vulnerable to 51% attacks
The blockchain ecosystem has a patch problem
https://srlabs.de/bites/blockchain_patch_gap/
SRLabs research suggests that security vulnerabilities remain unpatched for many Ethereum blockchain participants for extended periods of time, putting the blockchain ecosystem at risk.
Crypto currencies provide a popular alternative to centralized payment systems, and promise transactions between mutually anonymous parties, often called “trustless” transactions.
However, the required rational actions seem to extend beyond what many blockchain users are willing to do. In particular, we found early evidence that blockchain participants do not sufficiently patch and hence carry known vulnerabilities.
Ethereum relies on high availability to prevent double spending. A hacker who controls more than 51% of the computational power in the network can double spend coins, enriching the hacker and undermining the trust in the ecosystem. If a hacker can crash a large number of nodes, controlling 51% of the network becomes easier. Hence, software crashes are a serious security concern for blockchain nodes (unlike in other pieces of software where the hacker does not usually benefit from a crash).
For that reason, denial of service vulnerabilities have a particularly high severity in cryptocurrency networks; they can be used to massively reduce the amount of computational power needed to perform a 51% attack and double-spend.
Unpatched Parity Ethereum nodes can be remotely crashed. In February 2019, we reported a vulnerability in the Parity Ethereum client that could be used to remotely crash any Parity Ethereum node prior to version 2.2.10.
According to our collected data, only two thirds of nodes have been patched so far. Shortly after we reported this vulnerability, Parity released a security alert, urging participants to update their nodes.
Breaking the backbone of the Ethereum network requires crashing only a handful of nodes. Unfortunately, the data from ethernodes.org does not include whether a node is a miner. However, we know that currently the vast amount of hashing power is concentrated in a few mining pools. Mining pools often share one node to communicate with the Ethereum network, and we can safely assume that those mining pools are very security aware and keep their nodes up-to-date.
To resolve this situation, more reliable update mechanisms are needed. It is therefore desirable (and in line with Ethereum core beliefs) to decentralize the hashing power – this decentralization however would only increase security if the new mining nodes would still be security aware.
Even if the miner nodes are secure for now, failure to close known vulnerabilities may lead to a collapse of the blockchain ecosystem if and when the hashing power becomes more decentralized. This failure to update could leave the blockchain ecosystem in a more vulnerable state by lowering the barrier for performing a 51% attack.
Tomi Engdahl says:
Thomas Simms / Cointelegraph:
Craig Wright, who claims to be Satoshi Nakamoto, filed for the US copyright for the original Bitcoin white paper and most of the original Bitcoin code — Craig Wright has filed United States copyright registrations for the Bitcoin (BTC) white paper authored by Satoshi Nakamoto.
Self-Proclaimed Satoshi Craig Wright Files US Copyright Registrations for BTC White Paper
https://cointelegraph.com/news/self-proclaimed-satoshi-craig-wright-files-us-copyright-registrations-for-btc-white-paper
Craig Wright has filed United States copyright registrations for the Bitcoin (BTC) white paper authored by Satoshi Nakamoto.
Court documents show that the U.S. Copyright Office has registrations with Wright as the author of the white paper, as well as most of the original code used to build Bitcoin.
The Australian entrepreneur has long claimed to have written the cryptocurrency blueprint under the pseudonym.
Jerry Brito, executive director at non-profit organization Coin Center, tweeted:
“Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.”
It is believed that Wright is planning to assign the copyright registrations to the Bitcoin Association.
Bitcoin creator Craig S. Wright (Satoshi Nakamoto) granted US copyright registrations for Bitcoin white paper and code
https://coingeek.com/bitcoin-creator-craig-s-wright-satoshi-nakamoto-granted-us-copyright-registrations-for-bitcoin-white-paper-and-code/
Tomi Engdahl says:
Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value
https://cointelegraph.com/news/bitcoin-approaches-8-000-as-bitcoin-sv-doubles-in-value
Tuesday, May 21 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark again.
Tomi Engdahl says:
Nonprofits turn to cryptocurrency to help needy Venezuelans
https://www.cnbc.com/2019/05/22/venezuela-crisis-nonprofits-turn-to-cryptocurrency.html
GiveCrypto’s program provided temporary help to vulnerable families by providing them with a weekly deposit worth around $7 — or about the same as Venezuela’s monthly minimum wage.
The organization is also aiming to make people familiar with crypto apps so they can transfer their own earnings into digital currency and use it to buy goods, long after they have stopped receiving free deposits.
Tomi Engdahl says:
Cryptocurrency Laundering Service, BestMixer.io, Taken Down by Law Enforcement
https://securingtomorrow.mcafee.com/other-blogs/mcafee-labs/crypto-currency-laundering-service-bestmixer-io-taken-down-by-law-enforcement/
Tomi Engdahl says:
How AI and Blockchain Will Transform the Job Market
https://www.eeweb.com/profile/ethan-bennett/articles/how-ai-and-blockchain-will-transform-the-job-market
While blockchain and AI are here to stay, concerns have been raised about the changes that they bring to the U.S. job market and whether the country is ready to handle such change.
Tomi Engdahl says:
BitMEX Blog:
A coordinated reversal of transactions after some BCH was stolen, due to a bug during the latest Bitcoin Cash hardfork, may undermine trust in the blockchain
The Bitcoin Cash Hardfork – Three Interrelated Incidents
https://blog.bitmex.com/the-bitcoin-cash-hardfork-three-interrelated-incidents/
The 15 May 2019 Bitcoin Cash hardfork appears to have suffered from three significant interrelated problems. A weakness exploited by an “attack transaction”, which caused miners to produce empty blocks. The uncertainty surrounding the empty blocks may have caused concern among some miners, who may have tried to mine on the original non-hardfork chain, causing a consensus chainsplit. There appears to have been a plan by developers and miners to recover funds accidentally sent to SegWit addresses and the above weakness may have scuppered this plan. This failure may have resulted in a deliberate and coordinated 2 block chain re-organisation. Based on our calculations, around 3,392 BCH may have been successfully double spent in an orchestrated transaction reversal. However, the only victim with respect to these double spent coins could have been the original “thief”.
Tomi Engdahl says:
Cryptopia needs $2M to keep a database alive – or users might never recover their tokens
If the SQL database gets overwritten, it’s all over
https://thenextweb.com/hardfork/2019/05/27/cryptopia-tokens-database-cryptocurrency-2-million-host-liquidation-exchange/
Defunct cryptocurrency exchange Cryptopia warned it will take “some months at least” to figure out how to return tokens owed to its users.
Cryptopia administrators have also requested “urgent interim relief,” which they say is critical to maintain a single SQL database that stores all of its users’ individual account holdings and contact details.
“Without this information, reconciling individual holdings with the currencies held by Cryptopia will be impossible,”
Hackers forced Cryptopia offline in January after they drained $16 million in digital assets from its operational wallets. Following a failed relaunch, the exchange finally commenced the liquidation process with Grant Thornton New Zealand earlier this month.
Incredibly, Bloomberg recently reported that liquidators were worried all of its data could be overwritten or lost unless Cryptopia pays an eye-watering $2 million to the company that hosts it, an Arizona-based web services firm.
“This would be potentially catastrophic for the liquidators and account holders,”
Tomi Engdahl says:
Using Blockchain to Enhance Supply Chain Transparency
https://www.electronicdesign.com/automotive/using-blockchain-enhance-supply-chain-transparency?sfvc4enews=42&cl=article_2_b&utm_rid=CPG05000002750211&utm_campaign=25878&utm_medium=email&elq2=1ea7505c01ce4809ad0c73d0d72008ba&oly_enc_id=0452E0081834E9U
A new partnership between Minespider and Volkswagen will use blockchain to enhance the auto maker’s supply chain transparency and address challenges like conflict minerals.
Tomi Engdahl says:
Security Risks with Public and Private Blockchains
https://pentestmag.com/security-risks-public-private-blockchains/
Before we begin to understand the security risks associated with private and public blockchains, let us first define what a blockchain is: a ledger of transactions arranged in groups (batches) called blocks. These blocks use cryptographic validation to link themselves together. Simply put, each block references the previous block by a hashing function, which forms a linked chain, hence the name “blockchain”.
Blockchains can be visualized as databases with sets of validations that are not stored in central locations nor managed by groups of admins. They are peer to peer networks that exist on multiple nodes (computers) simultaneously in such a way that any interested party can maintain a copy. They are distributed and redundant by nature.
Public blockchains, including Bitcoin, Ethereum, and most altcoins, are designed to be accessible by anyone with a computer and internet access. They are designed to eliminate a need for intermediaries in any exchange of asset value scenario.
Private blockchains partially reintroduce the intermediary. Nodes in a private blockchain network require invitations and must be validated by either the starter of the network or by a set of rules put in place by the starter of the network.
Businesses which set up private blockchains, generally set up a permissioned network. This restricts access to the network for certain transactions. Participants need to obtain an invitation or permission to join.
Consensus Protocol
Anyone is able to aggregate and publish a group of transactions, provided they can solve a difficult cryptographic puzzle to prove an investment of computing power.
A proof of work is a piece of data which was difficult to produce so as to satisfy certain requirements.
Public Blockchain Security Risks
More than half of the network’s hashing power rests in a single country’s (China) hands.
Cyber criminals are increasingly interested in stealing crypto-currency due to their climb in value.
Blockchain code is still in its infancy and may be subject to currently unknown security vulnerabilities.
Sometimes, the attacker announces an inaccurate timestamp while connecting to a node for a transaction. The network time counter of node is altered by the attacker and the deceived node may accept an alternate block chain. The serious consequences of this are double-spending and wastage
The double spending attack is a serious threat
There may be bugs in Bitcoin Core
The most popular mode of storage for crypto-currencies may be insecure. Many users store their private keys in internet based, and thus hack-prone, wallets.
Regulations and laws sometimes require the use of certain controls that may not be relevant or possible using blockchain.
“Selfish Mining”
Private Blockchain Risks
A node that restricts the transmission of information, or transmits incorrect information, must be identifiable and circumvented to maintain the integrity of the system.
Another security concern is the treatment of uncommunicative or intermittently active nodes. Nodes may go offline for innocuous reasons
In a private blockchain, operators may choose to permit only certain nodes to perform the verification process. These trusted parties would be responsible for communicating newly verified transactions to the rest of the network.
private blockchains offer a degree of control over both participant behavior and the transaction verification process.
Tomi Engdahl says:
Computer Researcher Finds Wallet Vulnerability That Gave Same Key to Multiple Users
https://finance.yahoo.com/news/computer-researcher-finds-wallet-vulnerability-203700049.html?guccounter=1&guce_referrer=aHR0cDovL20uZmFjZWJvb2suY29tLw&guce_referrer_sig=AQAAAIenP6_LV-eN1yLFLEiYqdwNV8g7j1M2H7lwKTycTHDN5vSRAAEmOARhusPlXZTxrrddirqa6TPXnb0i8yR3SA_CDEK1_YYF-wvEOzl0RfNkpsR2yhIRfPYllueP31NDaHy03aMo8zgD9pS8f-DTb5T3xQAHdcsZ7h4dfmD8f_xe
Online cryptocurrency paper wallet creator WalletGenerator.net previously ran on code that caused private key/public key pairs to be issued to multiple users.
MyCrypto added that users who generated keypairs after August 17, 2018 should immediately move their funds to a different wallet and recommended not to use WalletGenerator.net.
Tomi Engdahl says:
Aion Network introduces first blockchain virtual machine for Java developers
https://techcrunch.com/2019/06/05/aion-network-introduces-first-blockchain-virtual-machine-for-java-developers/
Aion Network, a nonprofit dedicated to creating tools to promote blockchain technologies, announced a new virtual machine today that’s built on top of the popular Java Virtual Machine. Its ultimate goal is increasing the popularity of blockchain with developers.
The company believed if they could build a virtual machine specifically for blockchain on top of the Java Virtual Machine (JVM), which has been in use for years, it could help promote more extensive use of blockchain.
Today, it’s announcing the Aion Virtual Machine (AVM), a virtual machine that sits on top of the JVM. AVM makes it possible for developers to use their familiar toolset while building in the blockchain bits like smart contracts in the AVM without having to alter the JVM at all.
Tomi Engdahl says:
Believe or not?
New Evidence Suggests Satoshi Nakamoto Is Paul Solotshi, The Creator Of Encryption Software E4M And TrueCrypt
http://cryp7o.me/pujs9