Day: November 16, 2017

Bitcoin cranks up the volatility, shedding $2,300 then gaining $2,500 within a week; breaks $8,000 level.

Cryptocurrency wallet and exchange startup Coinbase is launching a new storage service aimed specifically at institutional investors.

The price of a single Bitcoin exceeded its previous all-time high again today. Seemingly shrugging off doubt over its position as top-dog in the cryptocurrency world, the going rate of each unit of the digital currency reached an unprecedented £7,794 according to market price watch website, Coinmarketcap. This puts it ever-closer to the next major psychological milestone of $8,000.

Bitcoin has had a turbulent month thus far. Its previous run up in price was brought to a sudden end following the news that the planned hard fork to introduce larger blocks to the main chain would not go ahead. Many believed that the fear and uncertainty created during the confusion over the planned upgrade known as Segwit2x meant that we’d seen this year’s all-time high for the currency last week and it would struggle to surpass this level again in 2017. However, as is often the case with Bitcoin, the doubt was short-lived. The price rebounded fast from its monthly low point on Sunday of around $5,580 back to record-breaking highs in just four days.

As Bitcoin’s loss over the weekend was undoubtedly Bitcoin Cash’s gain, the reverse has been the case since. Money has poured back out of BCH and into BTC, driving the price per unit on the original chain to all-time highs, and the price of Bitcoin Cash down much closer to its pre-hard fork shenanigans price of near $600. On Sunday, the alternate version of Bitcoin reached its own all-time high point of almost $2,500. It sits at just over $1,000 at the time of writing.

Forbes report managing director of Crypto Asset Management, Tim Enneking’s interpretation of the events of the weekend. For him, the failed hard fork provided greater appeal for the August hard fork version of Bitcoin thanks to it already having much larger blocks and therefore supposedly greater transaction speed and lower network fees in general.

As you’d expect, the all-time highs in price coincide with an all-time high in interest in the digital currency. Google Trends shows that online searches for the term “Bitcoin” follows the price chart rather closely with spikes in interest this year at the end of May, beginning and middle of August, mid-September, and of course, throughout October and into November. Meanwhile, a look at which regions are searching the most for the term “Bitcoin” probably invites more questions than it answers. The top five areas that searched for the term “Bitcoin” from highest downwards goes as follows: Nigeria, South African, Bolivia, Slovenia, and Ghana.

With the bull run continuing and increased institutional money on the way thanks to the CME Group Futures market which should be online in mid-December, even today’s all-time high might not be the last of 2017. Only time will tell just how high the price can reach this year and beyond.

Image: Pixabay

The post All-Time High: Bitcoin Shrugs Off the Competition Once Again appeared first on NEWSBTC.

Cybersecurity is quickly becoming one of the most important industries out there.

It’s no surprise, either – anyone who stays up to date with the online world will be only too aware of the chaotic goings-on of recent times.

Gone are the days when all users had to worry about were Trojan horses and spam emails. Large-scale, highly sophisticated attacks take place with terrifying frequency nowadays, and they’re on the rise.

And in Blockchain, new promising cybersecurity ventures like Gladius.io are now emerging.

Cybercrime costs are expected to hit $6 trillion by 2020, which has a lot to do with the growing volume of data online. The Internet of Things (IoT), devices like webcams and portable speakers that connect to the internet, is also a risk factor as these are often poorly defended and a prime target for hackers.

The number of IoT devices has been predicted to reach 200 million by 2020, so defense in this area is a massive concern.

With all these new developments and worrying predictions, cybersecurity companies have had their work cut out for them. The industry has been going through a pretty impressive growth spurt and is projected to be worth $170 billion by 2020.

What’s more, spending in weak areas is on the rise too. IoT spending is forecast to reach $547.2 million by 2018, up from ‘just’ $231 billion in 2014.

Worrying weaknesses

However, there are some gaping holes in the security industry. A spine-chilling study by Harvard Business Review found that even the best antivirus software only catches around 5% of new threats.

The best performances by software only manage to deal with 80-90% of real threats, and Symantec found that three-quarters of all websites have exploitable vulnerabilities.

It’s all pretty unsettling stuff, and unfortunately, it’s just the tip of the iceberg. With the current rapid pace of technological development, lots of the near-future threats to cyber security could be things we have no idea about right now.

New IoT devices and functions, the rise of artificial intelligence, and cars (90% of cars are expected to be online by 2020 according to one prediction) are just some of the areas that might pose huge threats to our online safety in coming years.

If that’s not scary enough, many are predicting a rise in cyber warfare with nation states using cyberattacks to wage conflicts in the digital sphere.

What’s the answer?

It’s clear that more must be done to defend against the growing arsenal of cyber threats facing us. To work out the best solution, it’s important to take a look at why current cybersecurity systems are allowing threats to slip through the net.

The main providers out there are spending vast amounts of money, researching frantically, and seemingly doing everything in their power to keep the pace with developments. And for the most part, they’re doing a great job.

So what can they do better? LevelNet thinks they may have the answer.

A fractured community

LevelNet believes that one of the biggest problems in the cybersecurity world is a lack of collaboration between the big service providers. This makes it difficult to properly co-ordinate responses to large-scale attacks and come up with effective ways to defend against future threats.

The cybersecurity industry is made up of several huge, monolithic companies constantly jostling for the top spot. There’s no one clear winner, each company has its own strengths and comparative weaknesses, and comparison surveys find it hard to agree on which one is best.

The good news here is that most big cyber security software providers will give you a decent amount of cover. The bad news is that, unless you pay for literally all of them, there are going to be some gaping holes in the defenses.

There’s also a lack of communication between these giants.

So if one company detects a threat, it takes a long time for that information to filter through to the other big providers (and their customers). In that window of time, criminals can do a whole lot of damage.

What’s more, cybersecurity providers today tend to focus more on existing threats and ignore future possibilities. Basically, the software detects threats on users’ devices by comparing them with a database of already known signatures.

This relies on the security provider having an enormous collection of previously-identified threat signatures, a database which is constantly evolving and requires customers to regularly update their software or face dire consequences.

In terms of anticipating future threats which have never been encountered, there’s worryingly little.

LevelNet’s solution

LevelNet plan to create a network, built from users of various different cybersecurity programs. They’ll be connected in real time, and able to share information about emerging threats quickly to the rest of the network.

To join the network, you’ll need to buy some LevelNet tokens, which will allow access to the entire ecosystem along with intellectual property rights.

The idea is that threats can be detected far more effectively. Instead of relying on time-consuming research by security providers, threats can be detected by a single user’s security software and relayed to the entire network in a relatively short amount of time.

Threats will be detected as they emerge, and after a risk assessment,  action can be taken quickly and decisively to put a stop to them across the entire network of providers.

The hope is to create a new way of doing cybersecurity, one that will minimize damage by minimizing response time and maximizing co-operation between the different security providers and their customers.

The post Introducing LevelNet – the ICO that Aims to Transform Cybersecurity appeared first on NEWSBTC.

CommerceBlock is proud to announce the beginning of its fruitful partnership with CG Blockchain. As a part of this partnership, the blockchain platform will be working on the new FUNDStore project, providing an interface to what’s considered as the world’s most secure public blockchain network. By implementing its novel tools within the FUNDStore ecosystem for blockchain based software solutions for hedge funds and pension funds, CommerceBlock will empower the clients of CG Blockchain to interact and conduct business under strict privacy. These transactions in question can be conducted over various public blockchains.

The partnership can be considered as a significant milestone for both the parties and Bob Bonomo, the President of CG Blockchain has reiterated in a recent quote. He said,

“FUNDStore/CG Blockchain is excited to partner with CommerceBlock as it offers unique public blockchain tools for the $3 trillion hedge fund industry through its technical expertise around public blockchain infrastructure.”

The announcement also marks a twist in the narrative so far, where the mainstream financial platforms have been maintaining a safe distance form Bitcoin and public blockchain technologies. By creating a bridge between both sectors, CommerceBlock is opening a whole new avenue for the overall development of the global financial infrastructure. The partnership also coincides with new developments, being brought about by CME Group and its planned Bitcoin exchange-traded instruments.

CG Blockchain

ComplianceGuard offers pension fund investors the tools they need to make sure that hedge fund managers do not change transaction or data. CG Blockchain combines an unalterable blockchain transaction trail with ongoing compliance monitoring to decrease the risk of hedge fund fraud at the same time protect the reputation of pension fund managers. In the current world of high measures of scrutiny and regulations, pension fund investors need accurate transaction records that can be verified as well as the compliance data from the funds they invest in. The blockchain will permanently record hedge fund compliance on a distributed ledger.

FUNDStore

FUNDStore enables users and pension fund providers to manage all stages of the transactions and interactions through the platform. It is designed in a way that all information, user funds, and user details are controlled by the client, meaning that at no point does CommerceBlock or CG Blockchain have access to this data. CG Blockchain partnering with CommerceBlock now seeks to increase hedge fund accountability and transparency of the transactions. It aims at delivering security to pension fund investors through the blockchain technology. This partnership will set the new standards for pension and hedge fund investment.

The post CommerceBlock Announces Partnership with CG Blockchain appeared first on NEWSBTC.

In a new patent application, Dell subsidiary VMWare outlines how it could integrate a blockchain into a proposed cloud-based data transfer service.

The post A Beginner’s Guide to Claiming Your Bitcoin Gold (and Selling It) appeared first on Bitcoin Magazine.

Humans both love and fear technology. Things that make our lives easier usually are greeted warmly only after initial apprehension. However, generally speaking, that same love for convenience exposes us to all sorts of potential problems. This is especially true in the digital age.

An old problem with greater stakes

We all love convenience. For most things in life, the easier the better. And this can be a very good thing. Life should not be needlessly hard. A great example of this is food and eating in general. No part of me wants to produce my food with all the hard work that entails. I would far prefer to buy my food. Homes are another example of life-changing convenience; I don’t want to build a house.

However, we are putting more and more trust into third parties to guard and use very sensitive information about ourselves. Who our friends are, who we do business with, and so on; these are aspects of our lives that we have willingly shared for the sake of convenience. I don’t blame anyone for doing it, but I do think we have all been collectively burned enough by these centralized third parties to realize that we need to do a better job of protecting our own information.

An analogy of a smart house

Let’s take a look at this problem through one small facet of our lives and their future: homes. Smart homes are cool integrations of technology and our lives. They will be incredibly convenient. With promises of smart temperature control, remote light control, and internet-enabled home security, the future of homes is exciting. However, unless such systems are properly secured, they could become nightmarish quickly.

Imagine if a smart lock connected to the internet were hacked. A homeowner could be locked out of his or her own home, or worse yet, a home invader might be able to easily access one’s property. Trolls could rack up energy costs by controlling smart thermostats, leaving lights on, and so forth.

None of us want this to happen where we live, yet we often fail to take the necessary precautions to even protect our own identities.

While stopping short of suggesting that blockchain technology solves all the world’s problems, I do see how the public and private key system could be used to help secure the convenient things in our lives – as long as we remember to keep our private keys private.

In our smart house analogy, the necessary authorization for these various things could come in the form of private keys held by the home’s inhabitants. Rather than rely on a centralized customer data system or poorly constructed user-made passwords, the purveyors of these smart home technologies could employ a distributed blockchain network to sign off on the various functions of homes.

Just a reminder, be responsible for yourself

I realize that a smart home is just one very specific example of an area about which we must stay vigilant for safety’s sake. Please remember in all things – crypto or otherwise – do your best to be responsible for yourself. Hold your private keys – whatever they may be – and don’t share them with anyone.

POS Solutions Provider to Launch on Blockchain to Benefit Merchants and Consumers

SINGAPORE — November 16, 2017 — Pundi X, a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in South East Asia, today announced their successful integration into the NEM blockchain. With the new change, every Pundi X POS device can be connected to both the Ethereum and NEM blockchains, enabling consumers to easily buy or sell cryptocurrencies (BTS, ETH, XEM, LTC, PXS tokens) using fiat money (Dollars, Rupiah, Baht, etc.), bank card, mobile wallet or with a Pundi X Pass.

XEM is the world’s tenth largest cryptocurrency, according to coinmarketcap.com, with a market capitalization of US $1.6 billion. NEM’s technology is currently employed by a variety of financial institutions and industries. When considering demand and trade volume, NEM also boasts being one of the most popular altcoins in Japan.

“By using NEM’s blockchain solution, we can confirm transactions instantly, which enables us to lower the exchange risk and provide a better user experience,” said Zac Cheah, CEO of Pundi X. “Moreover, Pundi X can now focus on rapid expansion to new markets thanks to our inclusion in the NEM network.”

“We are working to achieve mass adoption of the NEM protocol through sovereign fiat money issuance, financial settlements, payments, trade finance, stock markets, forex and other applications. The Pundi X business matches this goal because it makes cryptocurrencies more accessible for people to use in their daily lives,” commented Lon Wong, President of NEM.io Foundation. “NEM is very easy to implement. For example, it took only one day to make the Pundi X system work on the NEM blockchain for both the private and the public chains.”

Singapore Fintech Festival 2017 attendees can experience Pundi X POS device (Booth: 2L12) and NEM blockchain (Booth: 1F21) in the exhibition area. Media or partners interested in meeting with Pundi X during Singapore Fintech Festival 2017 can contact [email protected].

Pundi X public token sale is November 20, 2017, with the white list application closing at 10:00 GMT+8 on November 19. To learn more, please visit https://pundix.com/.

About NEM.io Foundation Ltd

NEM.io Foundation Ltd. is a non-profit organization based in Singapore, set up to promote NEM’s blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry. NEM’s technology is currently being utilized in a variety of financial institutions and industries.

For more information, please visit: www.nem.io

Press contact NEM.io: [email protected] / +1-415-595-2030

All other product and company names herein may be trademarks by their registered owners.

About Pundi X

Pundi X is a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in South East Asia. Pundi X POS enables shops, cafes and convenience stores to sell cryptocurrency to general consumers and builds on the success of Pundi-Pundi, which is one of Indonesia’s most popular QR code cashless payment apps. Pundi X public token sale is November 20, 2017 with the aim of financing over 700,000 Pundi X POS devices to be installed over the next three years across all target markets.

For more information, please visit: https://pundix.com/.Press contact Pundi X: [email protected]

All other product and company names herein may be trademarks by their registered owners.

You can also find us on the following social media channels:

Website: https://pundix.com

Twitter: https://twitter.com/PundiXLabs

Telegram: http://t.me/pundix

Medium: http://medium.com/pundix

Facebook: https://web.facebook.com/pundixlabs

Youtube: https://www.youtube.com/channel/UCOIf6WeLEzZi3DQxzenTZeA

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Stories related to hacking and other types of nefarious activity have dominated the technology landscape these past few years. Not all of these hacks are performed by criminals, though, as the Anonymous collective has been doing some “social justice” in this regard. Its latest venture involved shutting down several neo-Nazi websites. This war has gone on for quite some time now and is far from over.

Anonymous Strikes Another big Blow

While it is difficult to justify actions by any group of hackers right now, Anonymous has made more positive headlines in this regard than any other collective so far. It is not a threat to specific countries, but mainly aims to fight against injustice wherever it occurs. It’s a noble gesture, although not everyone will appreciate its method of attack. That is only to be expected, mind you, as hacking is and remains a criminal activity first and foremost. Governments all over the world have no love lost for Anonymous in this regard.

In their latest campaign, various Anonymous hackers have successfully taken down over a dozen neo-Nazi websites. There have been quite a few incidents across the United States over the years involving racism, neo-Nazi activity, and the like. Although it should be up to law enforcement agencies to respond in this regard, they are bound by very strict laws which need to be adhered to. Hacker collectives such as Anonymous have their own sets of rules, and they couldn’t care less about what any government or law enforcement agency thinks.

In a way, this gives Anonymous free reign over how it tackles problems found in our society today. So far, it has mainly done so by shutting down specific websites, although it remains to be seen what its future plans may be. The latest attack involving several neo-Nazi websites is seemingly harmless in the grand scheme of things, but it is still a problem for the affected users. Everyone is entitled to their own beliefs, even if the majority of the world doesn’t agree with them whatsoever.

It is certainly true that neo-Nazis – especially in the United States –  tend to cause major uproar at times. There is a big difference between shutting down websites and causing physical harm to people who do not share your beliefs. In this regard, the actions taken by Anonymous can be somewhat justified, and shutting down several neo-Nazi “online hangouts” may have been a just decision. Things like this are always subject to interpretation, of course.

Anonymous will continue to analyze potential targets associated with domestic terrorism. White supremacist acts are of particular concern to the hacker collective, mainly because this divide between races should have ended many years ago. Unfortunately, it is still a very real problem in 2017. Rest assured we will see a few more of these attacks in the future, assuming these neo-Nazi organizations continue to cause havoc in one way or another.

Indeed, it is not the first time Anonymous has successfully taken down major websites. In August of this year, hackers took down the Charlottesville city website. It is evident there is a lot of injustice in this world in need of addressing. Traditional approaches aren’t always sufficient or even possible to begin with. Hacking may not necessarily be the best method out there, but it certainly gets a point across. Rest assured there will be more of these stories in the years to come.

The price of bitcoin is spiking, climbing above $7,700 for first time since Nov. 8.