Pandemic Highlights Inefficient Systems: Blockchain Can Help

The Global Blockchain Business Council believes the pandemic has shone a light on many systemic inefficiencies that blockchain technology can solve. The Swiss-based non-profit blockchain industry association, the Global Blockchain Business Council (GBBC), believes that the crises resulting from the coronavirus pandemic have highlighted the benefits of distributed ledger technology (DLT). In email correspondence with Cointelegraph, a representative of the GBBC asserted that DLT can modernize and address the inefficiencies of the systems that underpin the organization of contemporary societies. Coronavirus highlights DLT use-cases “The current pandemic is highlighting many…

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1000 Corporate Systems Infected With Monero Mining Malware

Thousands of enterprise computers have been infected with a cryptojacking malware that installs a Monero mining app. The Blue Mockingbird malware gang has infected more than 1000 business systems with Monero mining malware since December 2019. The global scale of the hacker group’s operations was revealed by cloud security firm Red Canary on May 26. The report outlined the group’s methodology. The malware attacks servers running ASP.NET applications and exploits a vulnerability to install a web shell on the attacked computer and obtain administrator-level access to modify the server settings.…

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Bitcoin Price Caught Between Key Support Levels as Bearish Sentiment Grows

Bitcoin price is struggling to reclaim $9,000, leading investor sentiment to turn bearish on BTC’s short-term price action. Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885.  Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears are in contention on the direction Bitcoin will take over the short-term.  Crypto market weekly price chart. Source: Coin360 As the price searches for direction and its dominance rate drops from 67% to 65.5%, a…

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Bitcoin Risks Turning Bearish Due to Declining Market Health, Says Glassnode

Bitcoin (BTC) risks sliding back into bearish territory should onchain activity and overall market health continue to decline, warns analytics firm Glassnode. The latest market update from Glassnode shows that the GNI index, which measures the overall state of the Bitcoin network, dropped 18% or 13 points week-on-week, to a value of 60 points. Simultaneously, the price of BTC was falling below the psychological $9,000 level, to around $8,700. The index considers metrics such as network health, sentiment, and liquidity to determine the strength of bitcoin’s fundamentals. According to the…

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WeChat Invests $70 Billion in Fintech, Including Blockchain and AI

Tencent Holdings aims to bolster blockchain technology development across China as part of a $70 billion investment in fintech. Chinese tech giant Tencent Holdings will allocate nearly $70 billion (500B yuan) over the next five years in fintech development, including blockchain, cloud computing, and artificial intelligence (AI). Reuters reported on May 26 that the company, which is behind the WeChat messaging app, hopes to strengthen the development of fintech across the country, following the recent embrace of blockchain by the Chinese government.  Tencent wants to expand to business services and…

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After Spiking to February 2018 Levels, Bitcoin Fees Have Dropped 54%

The average Bitcoin fee has fallen by nearly 54% over the last five days, but some believe network congestion could push users to altcoins. After spiking a week ago to levels last seen in February 2018, the average Bitcoin (BTC) transaction fee has fallen by more than half. BitInfoCharts data shows that Bitcoin’s average fee decreased by nearly 54% from $6.65 on May 20 to $3.07 on May 25. The median — or most common —  fee peaked at $3.91, but has now fallen to $1.65. Bitcoin Cash proponent Hayden…

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New Crypto Bull Run ‘Inevitable’ Says Data Analytics Company CEO

A new crypto bull run could be on its way as a result of government economic measures and mainstream interest. After two years of uncertainty since 2017’s mega bull run, the signs are looking promising for a big crypto rally, says the co-founder of market analytics company Digital Assets Data.  “I believe a major crypto bull cycle is inevitable,” CEO Mike Alfred told Cointelegraph.  Coronavirus shakes up the global economy Several months of coronavirus prevention measures, including business closures and stay-at-home orders, have wounded the global economy. High unemployment numbers…

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$9M and Over 4,500 Fusions – Bitcoin Cash Supporters Anticipate the Cashfusion Audit

Since November 28, 2019, the Cashfusion protocol has helped facilitate 4,583 fusions to-date with roughly 40,564 bitcoin cash ($9.1M). Cashfusion is an extension of the Cashshuffle platform and the protocol has been deemed “far more practical than other coinjoin protocols.” Bitcoin Cash proponents are now waiting for the completion of the codebase audit, as the protocol will undergo a security audit from the well known firm Kudelski Security. Cashfusion Protocol Facilitates Over 4,500 Fusions Cashfusion is a popular privacy-enhancing platform that is used for obfuscating bitcoin cash (BCH) transactions. The…

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Was Satoshi a Windows or Mac Guy? We Have the Answer

Early Bitcoin developer Laszlo Hanyecz sheds light on a burning question: which operating system did Satoshi Nakamoto use to create Bitcoin? Most know Laszlo Hanyecz as the “Bitcoin pizza guy,” but this description ignores his role as an early Bitcoin developer. Hanyecz was the one to add MacOS support for the early Bitcoin (BTC) client, and he even invented GPU mining. Hanyecz got into Bitcoin in early 2010 and worked with Satoshi Nakamoto for about a year. Their work was mostly about fixing various bugs, then it became about Apple’s…

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Polkadot Mainnet Not Yet Live, Just a Mainnet Candidate

Time will tell if the network will cement its dominance. Polkadot (DOT) launched a stand-alone blockchain today, although the network is not considered the project’s mainnet yet. Polkadot sits under the wing of blockchain infrastructure company Parity Technologies, and the Web3 Foundation, a type of incubator for decentralized tech. The Polkadot protocol aims to provide compatibility across different blockchains. “There could be more than one chain candidate before it officially transitions to mainnet,” said Peter Mauric, head of public affairs at Parity Technologies. The solution unveiled a testnet of sorts…

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