Month: August 2018

As altcoins prices fluctuate, out trade plans continue to hold true. While we remain bullish on most coins as EOS, Tron, Litecoin and IOTA, the latter shows promise. It all has to do with on chain development and with Roman simulation prove that it’s possible for the tangle to reach consensus within seconds and process up-to 11,500 TPS, IOTA investors should be upbeat—and they are.

Just finished a basic test of ~95.000 network simulations for our consensus theory. Confirmation time from few seconds up to few minutes depending on the safety setting (almost instant paying for a coffee, or few minutes when buying a car?).

All simulations passed 100%! ->

— Roman Semko [DevIOTA] (@RomanSemko) August 29, 2018

Let’s have a look at these charts:

EOS Price Analysis

EOS Daily Chart by Trading View

As the week concludes, EOS is ending on a high shaking off Aug 30 bear attempts. While our trade plan is live and edging higher as laid out in prior EOS price analysis, taking a cautious stand as prices approaches the first level of resistance at $7 is ideal. After all, considering the general set up—prices are moving within a bear break out pattern primarily ignited by Aug 8 bear bar—, it doesn’t  make sense to buy as risk reward ratio is prohibitive.

Instead, a more sober approach is to wait for a reversal at $7—now that prices are slowing down OR a high volume break above $7 steeling bulls and allowing buyers to flow into EOS with first targets at $9 and later $15.

Litecoin (LTC) Price Analysis

Litecoin Daily Chart by Trading View

Even with a four percent gain, it’s obvious that Litecoin bulls like in most coins are slowing down. Regardless, taking a temporary bullish stand-with lofty expectation of a break above $70-syncs well with recent higher highs set in motion by Aug 17 and 27 high volume thrust.

As spelled out in our last LTC trade plan, taking a neutral stand and halting trading in the time being might present a better entry position once there is a trend defining break out above $70 or dips below $50. If the latter is the case, then odds are LTC might drop towards $30. The level is our previous bear target in the process re-affirming the third stage of a bear break out pattern.

Stellar Lumens Price Analysis

Stellar Lumens Daily Chart by Trading View

Relative to prior moves, XLM is technically in a range mode. It is  moving within the monthly support trend line capping losses and 25 cents on the upside in a perfect wedge.

Though the market buyers are losing steam, taking an upbeat approach considering Stellar Lumens is oscillating at historical reversal levels clear when we paste a Fibonacci tool between 2017 high lows.

Nonetheless, any move below that support trend line asserting bears will be pointers to weak bulls. On the contrary, a move below 18 cents will open doors for 8 cents as highlighted before.

Tron (TRX) Price Analysis

From the News

• The super hyped Tron’s Virtual Machine which the foundation says is lightweight, faster, better and compatible with the market pioneer Ethereum Virtual Machine (EVM) is now live.

Blockchain The Global Ecosystem, #TRON to the future. #TRON virtual machine launch event. #TRX $TRX #TVM
Youtube: https://t.co/q553J2pHjW
Facebook: https://t.co/gMnFAULfyr
Periscope: https://t.co/ulCs9Gu1t3

— Justin Sun (@justinsuntron) August 30, 2018

Technical Analysis

Tron Daily Chart by Trading View

Even with a well-orchestrated marketing campaign, the launch of Tron’s virtual machine has been deflating for many anticipating “action and volatility”.

Like their prior beta announcement, TRX is picking up slow and up just six percent. This means our trading plan is active. However, taking a more conservative approach today as the markets digest the impact of EVM especially on developers is better.

For these reasons, we shall remain neutral for today. But from the way candlesticks are set up—we have a potential retest and trend resumption here—taking shorts with stops at 28 cents should bode well with aggressive traders.

IOTA (IOT) Price Analysis

From the News

• Marwen Trabelsi and Sam Chen are the latest members of the Iota Foundation.
• There is a potential breakthrough in IOTA after the development team printed a theoretical CTPS of 11,363 and reaching consensus in just 88 seconds for one million transactions all done from 900 virtual nodes.

#DeviotaNikita First load simulations. 300 virtualised nodes bombarded with up to 9 concurrent versions of a TX (nonuple-spend!).

Excluding database and network latencies, it takes only 88 seconds to find consensus for 1 million TXs. 100% success rate. pic.twitter.com/AJHGnXvZxK

— Roman Semko [DevIOTA] (@RomanSemko) August 30, 2018

Technical Analysis

IOTA Daily Chart by Trading View

Going by yesterday’s development, previous IOTA trade plans hold true even as IOTA gains four percent as statistics shows. Those apparent gains mean nothing by the way. From the chart, IOTA prices are moving inside Aug 27 candlesticks. That’s another reason why bull momentum has an edge over sellers.

While spot rates won’t allow for buys—risk reward ration won’t allow, conservatives can wait for better moves above 90 cents before loading up longs. On the flip side, any dip high volume dip reversing Aug 27 bulls would definitely hint of a slowing momentum and a possible resumption to bears. Sell triggers should be around 55 cents—Aug 17 highs.

Disclaimer: This is not investment advice and views represent that of the author. Do your own research before making an investment decision.

The post EOS, Litecoin, Stellar Lumens, IOTA, Tron Technical Analysis: TVM Launch “Slow”, IOTA’s Dev Team 88 Sec Consensus Dominate appeared first on NewsBTC.

California’s state legislature has passed a bill which aims to form a working group on blockchain technology. According to the bill, the primary role of the working group will be to find out how blockchain can be introduced and used in government, schools, and other public institutions. It will also determine how blockchain can fit into the California law and be beneficial to California residents as well as business establishments in the state. The group will achieve this by not only informing residents about the benefits of blockchain technology, but also by informing them of the potential risks and applicable control measures.

Playing Catch-Up

The working group, which is expected to have a chairperson by July 1, 2019, will have 17 members pooled from the technology industry and other related fields. The group will also include the state’s finance director, the chief information officer, one assembly member, and one Senate member.  Industry stakeholders will provide useful ideas to the working group, which will be used to recommend various changes in the legislature.

The bill, which was initially introduced in February 2018, recognizes the legal validity of electronic records, stating that “a record or signature may not be denied legal effect or enforceability solely because it is in electronic form and that a contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation.”

Additionally, the working group should submit to the legislature before July 2020 a study on the risks, benefits, and uses of blockchain technology by California-based businesses and the government. The report should define blockchain tech, give the possible recommendations for blockchain modifications and show how the technology impacts various sectors.

As shown by public records, the state Senate passed the bill after Monday’s third reading. This leaves the only remaining step as the signing into law by Governor Jerry Brown. The governor shall have 30 days to review the bill before making the decision.

Other than California, other states including Colorado, Tennessee, Wyoming, Nevada, Ohio and Delaware have passed legislation meant to encourage and attract more blockchain businesses. These bills fall into different categories: Nevada and Wyoming prohibit the taxation of blockchains while Ohio and Delaware amended the corporate code and electronic transfer laws of their states to support blockchain development. In June 2018, Dannel Malloy, the Connecticut Governor, signed into law a bill which was aimed at establishing a working group for blockchain. It is also designed to expand the use of blockchain technology in the entire state.

California is also working on a bill to amend its corporate code. The code bill specifies that blockchains can be used to maintain corporate records and should, therefore, be adopted by organizations. The state recently considered a proposal to be used by business enterprises when obtaining cryptocurrency licenses but unfortunately, the bill did not advance.

California is the innovation capital of the US, with Silicon Valley churning out most of the biggest tech startups in the world. However, it has lagged behind with blockchain technology allowing other states to make huge leaps ahead. This and other subsequent blockchain-friendly laws will give the state an opportunity to catch up and maybe even dominate the quickly-evolving blockchain industry as much as it has dominated the mainstream tech industry.

On August 31 the CEO of the firm Viabtc, Haipo Yang, published a blog post proposing the establishment of a standardization organization like the World Wide Web’s W3C consortium. Haipo Yang wants to start a similar group called the Bitcoin Cash Standard Organization (BCSO) in order to create standards and achieve better transparency when it comes to BCH consensus proposals.

Also read: How to Monitor the BCH Stress Test and Get Involved

Viabtc’s Haipo Yang Proposes to Initiate a Standardization Group Called the Bitcoin Cash Standard Organization

There are many large organizations like the Linux Foundation and W3C that work together to create standards in the world of computers and the internet. Haipo Yang the founder of the blockchain development firm and mining pool, Viabtc, wants to create a similar organization for Bitcoin Cash (BCH) development standards. The Viabtc CEO says Bitcoin is a consensus protocol that “should be defined by documentation instead of software codes.” In order to avoid incompatibility and possible blockchain splits, Yang believes client protocols should be very careful when making code changes. To begin creating standards and documentation Yang proposes the initiation of a BCH-centric standardization organization.  

“Together we will standardize Bitcoin by establishing the Bitcoin Cash Standard Organization (BCSO) — BCSO will give the definition of “Bitcoin” with standard protocol documentation. With the BCIP (Bitcoin Cash Improvement Proposal), BCSO will collect advice and suggestions of protocol standard as well as feedbacks for BCIP from the community,” Yang explains during his proposal announcement.  

BCSO will regularly release the BCIP with updated standard documentation and help all clients with the updates — BCSO will also hold developer conferences to explore new Bitcoin technologies and growth.

Helping the Bitcoin Cash Community Reach Broad Consensus

Yang thinks the creation of the BCSO will make future Bitcoin consensus changes more public and transparent. When submitting BCIPs programmers should include documentation and test results, so BCH participants can get a better understanding of what is happening with development.

“BSCO will allocate BCIP No. for each proposal, collect suggestions from the community and call votes for the proposal via a method that’s commonly agreed by the community,” Yang concludes. “According to the result of BCIP, BCSO will update the Bitcoin Standard Protocol regularly and set a timetable for software implementation and network activation in coordination with the network upgrade.”

I believe that Bitcoin Cash Standard Organization (BCSO) will guarantee the development for Bitcoin, and help the community reach the broadest consensus.

What do you think about Viabtc’s CEO Haipo Yang proposing a standardization organization? Let us know your thoughts on this subject in the comment section below.

Images via Shutterstock, Pixabay, and Twitter. 

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An Australian federal agency is teaming up with American multinational technology company IBM to develop a national blockchain on which smart legal contracts can be carried out.

The research branch of the Commonwealth Scientific and Industrial Research Organization known as Data61 have been working alongside both law firm Herbert Smith Freehills and IBM to create a pilot platform for the Australian National Blockchain (ANB) that will be available for use by businesses.

Australia-based companies will be able to use the network in order to utilize digital contracts, exchange data securely and confirm the authenticity and status of legally binding contracts. Upon finalization of the ANB, the developers hope to be able to offer a service that can fully manage the lifecycle of a contract through a permission-based access system from all parties.

The platform will also provide smart legal contracts with smart clauses and the ability to record external sources of data such as that retrieved from the Internet of Things, self-executing once all specified contract conditions are met. Designed for full legal compliance in Australia, ANB boasts to be the first large-scale, public to business blockchain solution.

Paul Hutchison, vice president and partner of Cognitive Process Transformation at IBM, pointed to the groundbreaking nature of blockchain technology, saying: ”Blockchain will be to transactions what the internet was to communication… ANB could likely spur innovation and economic development in the country as it harnesses that forward-thinking technology.”

The pilot is set to be launched by the end of the year for a number of invited regulators, banks, law firms and businesses to trial, with plans to eventually open up the platform to all companies in Australia.

Blockchain in Australia

Earlier this month, the country’s government handed a USD 1.7 million grant to a sustainable sugar blockchain project that tracks the origins and movements of sugar imports. It is part of a larger initiative of the Smart Cane Best Management Practice that is attempting to bring transparency to the sugar industry and promote sustainability.

In July, the Commonwealth Bank of Australia successfully tracked a shipment of 17 tons of almonds from Sunraysia to Hamburg, Germany using blockchain. The blockchain stored documentation, finance information, and operations information, with customs documents uploaded as the shipment passed through countries’ borders.

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This article originally appeared on Bitcoin Magazine.

Plenty of things can happen in a minute. And when it comes to your security online, those 60 seconds are enough to send your business into a tailspin. As companies around the world look to increase their online presence and create more touchpoints with their customers, the attack surface grows ever larger.

In what RiskIQ calls the “evil internet minute,” there’s a scary amount of illicit online activity going on. Check out the eye-watering losses that what will have happened by the time you’ve read these stats:

7. In 2018, Cybersecurity costs the global economy some $600 billion a year (that’s $1,138,888 per minute). Yet, businesses around the world spend an average of $171,233 per minute on information security.

6. The average cost of cybercrime for large global businesses in 2017 was $11.7 million (which translates into $222 per minute).

5. There are 2.7 million cybercrime victims a day–(1,861 per minute).

4. Ransomware costs organizations $8 billion per year, which is $15,221 per minute. Approximately 1.5 companies fall victim every 60 seconds.

3. There are 1,274 new variants of malware every minute.

2. 22.9 phishing attacks happen every minute

1. There are 2.9 billion leaked records every year, which equates to 5,518/minute

It Only Takes a Minute

There’s an almost endless variety of ways in which you can become the next victim. The fear of surfing online can almost stop you from switching on your laptop. And while most cybercrime statistics that grab the headlines are about big businesses, a study by Switchfast Technologies found that small businesses are a much easier and more frequent target.

Since they lack the dedicated security personnel to act or react in the event of a cyber attack, it’s often the smaller businesses that suffer the worst. And the scariest thing is that as much as 60 percent of SMEs that suffer a cyber attack go out of business within just six months.

While cybersecurity experts are stepping up to the plate, there are continuously more inventive forms of attack, from cryptomining to phishing, spinning up malicious mobile apps, and even breaking in via a third-party hack.

If your company is like one-in-three US businesses with no cybersecurity plan in place, it’s about time you got one. It only takes 60 seconds to become a victim of cybercrime and, in many cases, it could have been avoided or contained before sending you into the red.

The Asian blockchain jobs and employment market is booming with a 50% increase in industry roles since 2017.

UK-based specialist professional recruitment consultancy Robert Walters reports that startups and established corporations in Asia are on a recruitment drive, with many crypto industry positions now becoming more appealing to those from more conventional sectors.

Stalling cryptocurrency prices on the trading market hasn’t deterred Asian would be professionals seeking a change in direction in their careers, adding crypto exchanges and blockchain projects to their usual lists of possible employers such as IBM, Google and Amazon. Julian Hosp, co-founder of Singapore-based crypto wallet and card start-up TenX observed:

“We hardly ever hire from inside of crypto because most people inside of crypto are very inexperienced. You have very, very few people who are experienced who get into the crypto industry.”

John Mullaly, director of financial services at Robert Walters in Hong Kong agrees, suggesting that many blockchain enthusiasts lack the skills necessary to join the industry. Hosp suggests that employment interest comes in waves according to the ebb and flow of crypto prices:

“If crypto is doing well, if people are making money in crypto, we get huge inbound from people because they feel like, “I need to jump on this wave…”And then when you see crypto going down — then we see that immediately the demand of people, they’re like, “Oh no, this is a dying industry, I shouldn’t go in there.” So it’s completely emotional.”

The Asian job seeker interest was at its peak during the second half of 20017 in accordance with Bitcoin’s then rocketing price, dropping off as the flagship digital currency’s price fell in 2018. Despite this, data has shown that the interest in industry positions is still trending upwards.

As well as potential employees jumping from more conventional sectors, employers are often facilitating this, says  Justin Chow, Asia head of business development at Cumberland — the cryptocurrency division of trader DRW. Chow suggests that his company viewed hiring at its cryptocurrency division no different from hiring across all asset classes.

Indeed, Upwork, an American worldwide employment-related search engine states that:

“The situation in Asia seems to mirror the US in that Bitcoin [job search] trends are much more volatile (and related to price volatility) and resulting media coverage while blockchain and cryptocurrency searches have seen a more consistent upwards trajectory.”

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Various efforts have been undertaken to disrupt traditional social networks of all kinds. LinkedIn may face a lot of competition from Truebase, a new platform aimed at attracting blockchain professionals. Given the increasing popularity of blockchain and firms exploring this technology, having a professional network service on one’s side is no unnecessary luxury.

The Truebase Concept

On the surface, similarities between Linkedin and Truebase are not hard to come by. Both ventures focus on building a professional social network, although Truebase primarily intends to attract blockchain professionals. More specifically, they want to ensure professionals can find the right job opportunities for their skills, which has proven to be rather challenging up until this point.

How Does it Work?

A lot of issues can arise when bridging the gap between blockchain professionals and job providers. In the case of Truebase, it aims to become an incentivized network matching users and business opportunities without recruiters or traditional solutions offered by existing professional networks. Members who provide value to the network will be rewarded, whereas the “bad seeds” will be punished.

Keeping one’s information up-to-date at all times will be subject to incentives. They will earn Truebase tokens for this specific purpose, as well as for helping other users. With these tokens, platform users can create “asks” which will help them find professionals for blockchain opportunities or the other way around.

Truebase makes use of the True Protocol to help professionals build a digital business reputation. Moreover, users can maintain full control of their identity among all applications to be built on top of this platform in the future. As such, it becomes evident this project will heavily rely on community involvement, although there is no reason to think that will pose any real problems in the foreseeable future.

The Road Ahead

While Truebase may become a major hub for blockchain professionals and companies looking to hire new talents, there is still a lot of work to be done. The project is currently available to the entire world, although future improvements will be introduced to this platform in the months and years to come. Especially the prospect of future applications built on top of the True Protocol will get a lot of people excited, for obvious reasons.

Bessarabsky market, a landmark of Ukraine’s capital, is introducing crypto payments. Fruits and vegetables are already sold for a number of cryptocurrencies including bitcoin cash (BCH). The initiative to offer the alternative payment option aims to show how simple it is to use cryptocurrency in everyday life.  

Also read: New Bill Clarifies Crypto Taxation in Poland

BCH and BTC Accepted for Fruits and Vegetables

Kiev’s historic Bessarabsky market, an indoor marketplace located in the center of the capital city, is accepting cryptocurrencies, the public communal company that operates it announced on Facebook. Locals and visitors can now buy fresh produce with a variety of digital coins thanks to a partnership with crypto payments processor Paytomat.

Currently supported are payments in bitcoin cash (BCH), bitcoin core (BTC), bitcoin gold (BTG), litecoin (LTC), ethereum (ETH), nano, dash, waves, EOS, and NEM. During this initial, experimental stage customers can spend their crypto at a fruits and vegetables stand. However, a vegan street food cafe at the market is also preparing to launch crypto payments soon. Purchases are made through a QR code scan and sellers should receive the payments in fiat Ukrainian hryvnias after instant conversion.

The cryptocurrency payment option will offer buyers a new experience and attract crypto enthusiasts, according to Bessarabsky market’s managing director, Nikolay Kovalchuk, quoted by the Ukrainian outlet Bykvu. He also hopes for an increase in customer loyalty that will lead to sales growth. The market, which is one of Kiev’s landmark sites, is frequented by foreign tourists as well, and for many of them crypto payments are known and convenient.

‘Babushka’ Shows How Easy It Is to Spend Crypto

The project, which has been named “Babushka” (Granny), aims to demonstrate the simplicity of using cryptocurrency in everyday life. According to Alexander Kurin, operations director at Paytomat in Ukraine, the hardest part is to convince sellers they are going to get their hryvnias after the crypto payment is processed. He told Forklog:

The main idea is a symbiosis between traditions and innovations. We chose the Bessarabsky market because it is a well-known tourist destination, and cryptocurrencies are a universal means of payment in any country.

Paytomat has been working to introduce cryptocurrency payments in a number of cafes, restaurants, online stores, and even clinics, schools, and beauty salons, the Ukrainian outlet notes. Businesses and merchants using its services are spread across Europe, from Ukraine and Georgia in the East to the Netherlands and Spain in the West.

The platform offers several payment solutions including POS terminal, web panel, QR code and WordPress plugin. As news.Bitcoin.com reported earlier this year, the Paytomat supports 11 cryptocurrencies and works with more than 330 restaurants and stores.

What do you think about Bessarabsky market’s initiative to introduce crypto payments in Kiev? Tell us in the comments section below.  

Images courtesy of Shutterstock, facebook.com/bessarabskiyrinok, Paytomat.

Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

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Artist Lincoln Townley, dubbed by Sir Michel Caine as the next Andy Warhol, has sold his entire collection of work for cryptocurrency over one weekend.

The London and LA-based artist’s client list reads like a who’s who in the world of music, sport and cinema with Sir Michael Caine, Al Pacino, Sting, Ronaldinho and Samuel L Jackson just some of those artists in their own fields proud to hang his work in their homes.

Townley has snubbed the traditional gallery route as point-of-sale and sold his collection through social media, insisting on cryptocurrency as payment. He’s not the first artist whose work sells for crypto but he may be the first to insist on digital currency as a preferred payment method. Many of the purchasers hadn’t even seen the work until after they had made payment, having only been able to view it via social media apps such as WhatsApp.

The artist says he is “shaking up the art world” by utilizing an entirely different method of viewing and paying for artwork, removing the middleman from the process. He spoke to the Daily Express about his thinking behind the move:

“There is no two ways about it. The people who invest in Bitcoin are without doubt speculators – they are looking at something with more of a risk… but that’s why I thought to myself, these are the sort of people that would be interested in purchasing my art as an extension to their investment portfolio… There are so many other ways to get sales with technology.”

Townley said that some of his collectors were also cryptocurrency enthusiasts and many were looking for an alternative way to diversify their digital investment portfolio by putting their assets into art, adding, “They are looking for a tangible asset they can put this newfound currency into.”

His latest collection, Behind the Mask, exhibits at the Biennale di Venezia on The Grand Canal in Venice next spring. Townley suggests that galleries could be overrated give his recent crypto sales success online. Artists should be looking at more innovative ways of promoting and selling their work:

“The best thing is it fuels my belief that galleries are secondary to an artist’s success – they just need to look at galleries as another string to their bow… I’m always looking at ways to do things differently in my route to market.”

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Bitfi has removed the “unhackable” title from its wallet and ended its bounty program after several reportedly successful attempts by researchers

An artist who has sold pieces to Hollywood A-listers, rock stars, and professional athletes recently sold an entire collection of his work for cryptocurrency. Lincoln Townley is is disrupting the world of art sales with his unorthodox methods of exhibition, as well as the payment methods he accepts.

Artist Embraces Technology to Shake Up the World of Fine Art

Lincoln Townley is a London and LA-based artist. His high-profile collectors include the likes of Michael Caine, Al Pacino, Sting, and Ronaldinho. Townley is keen to disrupt the way art is auctioned. Not only does he accept payments in digital currencies, he also conducts his sales digitally.

Townley is not one for the traditional auction houses and galleries usually favoured by artists looking to monetise their work. Instead, he prefers WhatsApp and other social media platforms. His list of previous buys not only includes the rich and famous, but also hails from all over the planet. It therefore makes perfect sense for him to favour a truly borderless means of payment like that offered by cryptocurrency.

Dubbed by Caine as “the next Andy Warhol,” Townley turns his nose up at the traditional art world and their conventions. It was partially for this reason that he recently decided to sell an entire collection of his work for cryptocurrency over the course of one weekend, using exclusively social media. Many of the buyers never even saw the work in real life before it had been delivered.

However, his decision to use cryptocurrency also stems from a belief that those who appreciate artwork as a store-of-value are often drawn to digital assets such as Bitcoin for the same reason. Townley also states that many are seeking to diversify the assets they are holding by buying his art. He explained to the U.K.’s Express newspaper:

“They are looking for a tangible asset they can put this newfound currency into.”

Townley believes that his approach to the selling and exhibiting artwork could help to transform the industry. He says goes on to state that he is cutting out the middleman from sales and thus the process is more efficient and he receives a largest payment for his work:

“The best thing is it fuels my belief that galleries are secondary to an artist’s success – they just need to look at galleries as another string to their bow. There are so many other ways to get sales with technology.”

Whilst selling art for cryptocurrency is by no means the norm yet, some, like fellow technologically intrigued artist Zoran Kutozovic, believe that eventually all of their peers will begin to explore the benefits of using digital currencies for sales of their high value work.

Featured image from Shutterstock.

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The US government is cracking down on any and all illegal activity pertaining to cryptocurrencies. Although that will undoubtedly cause some friction, it is also a necessary step in making the industry appear more legitimate. Operation Darkness Falls is one of the latest initiatives undertaken by the US DOJ, and it has proven to be successful so far.

The Operation Darkness Falls Concept

Cracking down on illicit darknet activity remains a monumental task for any government agency. Criminals have gotten very crafty at hiding their tracks in this day and age. Operation Darkness Falls was set up to slowly erode criminal activity on the darknet, especially pertaining to Bitcoin and cryptocurrencies. It is a joint collaboration which proves to be successful.

How Does It Work?

Any operation aimed at the darknet needs to be a joint collaboration. For Operation Darkness Falls, the US DOJ is joining forces with Homeland Security, USPIS, the FBI, and the DEA. It shows how serious all parties are about shutting down criminal activity, especially when it comes to online drug sales. The agencies target people and organizations selling fentanyl and other drugs on the darknet.

In the latest press release, it was announced numerous arrests and guilty pleas have been achieved through Operation Darkness Falls. Perhaps the biggest success to date is the successful arrest of MH4Life, one of the biggest fentanyl vendors in the US. It shows the operation is working quite well. Moreover, the investigation shows this vendor is, in fact, two people who are operating under this name.

It is evident Operation Darkness Falls will bring more positive attention to cryptocurrencies in the long run. By slowly eroding darknet drug sales, there are a lot of exciting opportunities to explore in the future. Bitcoin is often associated with illegal activity, but it lacks the necessary traits to grant users privacy or anonymity. As such, using this form of payment will make Operation Darkness Falls a success for the various law enforcement agencies.

The Road Ahead

Given the major success achieved by Operation Darkness Falls, it seems unlikely this venture will wind down anytime soon. Even so, it is evident there is still a lot of work to be done when it comes to getting rid of illegal darknet sales pertaining to drugs. Despite the initial successes, there is still plenty of work to be done, as the number of drug sales on the darknet will not slow down anytime soon.