Turkish crypto exchange Btcturk has suffered a cyber attack which caused unauthorized withdrawals from the platform. Crypto exchange Binance is assisting Btcturk with investigating the breach and has already frozen over .3M in stolen funds, Binance’s CEO has disclosed. Btcturk has reopened deposits and withdrawals for all ERC20 cryptocurrencies on the ERC20 network. Binance Assisting […]
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Samourai Wallet Helps Produce Documentary on Cody Wilson’s 3D Firearm Legacy
A new documentary delving into 3D firearm printing and Defense Distributed’s Cody Wilson is set to release. Directed by Jessica Solce and produced by Encode Productions and the Samourai Wallet team, the film will digitally debut on October 21, 2023.
‘Death Athletic’ Features Cody Wilson and the Rise of 3D-Printed Guns
“Death Athletic: A Dissident Architecture” is the title of the documentary, which will be released on October 21 after two screenings in New York and Texas. This film, highlighting the pioneering work of Cody Wilson in the realm of 3D firearm printing, was produced in collaboration with the privacy-focused bitcoin wallet creator, Samourai Wallet, Thomas Donnelly, and Encode Productions.
Jessica Solce, known for her direction in “No Control,” “My Blueberry Nights,” and “Essence of Echoes,” also helmed “Death Athletic.” The documentary will spotlight the growing 3D gun printing movement, with a significant emphasis on Wilson’s contributions. Coindesk’s Marc Hochstein first broke the news of Samourai receiving the title of executive producer for the 3D-printed gun documentary.
He is recognized for inventing the first functional 3D-printed gun, the Liberator, and for co-founding the now-defunct BTC privacy wallet, Dark Wallet. Since the Liberator’s inception, a host of designers have developed, honed, and shared their 3D firearm printing designs.
The film also covers the legal challenges Wilson and his company faced against the U.S. government. It also highlights Defense Distributed’s CNC mill “Ghost Gun” machine. Recently, Wilson and Defense Distributed introduced Gatgpt, a generative artificial intelligence (AI) chatbot dedicated to open-source gun data.
Notably, “Death Athletic” received donations in the cryptocurrencies BTC, ETH, and XMR, with its BTC address accumulating approximately 0.686 BTC since its establishment.
What do you think about the upcoming documentary featuring Wilson, Defense Distributed, and the 3D firearm movement? Share your thoughts and opinions about this subject in the comments section below.
Smart Contract Automation Helps Dapps Maintain Data Integrity Without Relying on External Databases — Pavel Salas
According to Pavel Salas, the chief growth officer at Gear Foundation, on-chain smart contract automation makes applications “truly decentralized” because it “removes dependencies on centralized servers or external entities.” Salas also claimed that on-chain smart contract automation means participants can “engage in transactions or exchanges without relying on a central authority.”
Webassembly Not a ‘Direct Replacement for EVM’
In his written answers sent to Bitcoin.com News, Salas argued that on-chain smart contract automation also helps decentralized applications (dapps) maintain data integrity without having to rely on external databases. He said since the code of smart contracts deployed on the blockchain is immutable this means it cannot be altered once deployed.
Meanwhile, when asked to offer his thoughts on Webassembly (WASM) and the possibility it will overtake the Ethereum Virtual Machine (EVM) at some point, Salas, said he does not see WASM as a direct replacement for EVM. Instead, he views ongoing efforts to integrate WASM with EVM-based ecosystems as something that “highlights its potential to expand the capabilities of smart contract development in the broader Web3 landscape.”
Also, in his written answers sent to Bitcoin.com News via Telegram, the Gear Foundation chief growth officer discussed factors that inhibit developers as well as the lessons that can be drawn from the experiences of Web2 platforms which excel at providing “intuitive and user-friendly experiences.” Below are Pavel Salas‘ answers to all the questions sent.
Bitcoin.com News (BCN): What are the most common factors or limitations in the blockchain industry today that inhibit developers, especially those in decentralized finance (defi) and Gamefi from building Web2-like rich experiences for their users?
Pavel Salas (PS): The blockchain industry faces a significant hurdle in scalability. The current state of many blockchain networks, especially those supporting defi and gamefi [the intersection of finance and gaming], grapples with scalability bottlenecks. The transaction throughput is often limited, leading to congestion during peak usage times. This results in higher fees and slower transaction processing.
For developers aiming to create Web2-like experiences, the scalability challenge poses a critical barrier. Users expect seamless and quick interactions, a standard set by centralized platforms. Current blockchain limitations hinder developers from replicating this level of user experience. Blockchain networks often operate with limited interoperability. Defi and gamefi developers, seeking to create interconnected experiences, face hurdles due to the lack of effective communication between disparate blockchain networks. The absence of interoperability hampers developers’ ability to craft applications that can leverage the strengths of different blockchain ecosystems.
Traditional Web2 platforms excel in providing intuitive and user-friendly experiences. Blockchain, on the other hand, introduces complexities such as private key management, transaction confirmations, and wallet integrations, leading to a steep learning curve. While smart contracts are foundational to defi and gamefi, they currently have limitations. Execution times, resource-intensive operations, and the inherent determinism of smart contracts also can be bottlenecks for creating complex and dynamic applications. The broader adoption of blockchain applications relies on educating users about the benefits and usage of decentralized platforms. This educational gap also affects user onboarding and retention.
BCN: Vara Network is based on the Gear Protocol and claims to offer simplified blockchain development. Could you describe what Gear Protocol is all about and how it helps simplify the developer experience for the next-gen gaming, defi and experimental use cases?
PS: First of all it’s important to understand the Gear Protocol. Beyond this, there are several important technical features:
Actor Model. It is a paradigm for concurrent computation that conceptualizes both the data and processes as “actors.” In the context of blockchain, these actors are programs or entities that interact with each other through asynchronous message passing. This approach brings a layer of security by not allowing actors to share a state, a departure from traditional shared-state models. In the context of Vara Network, this means enhanced security and reduced complexities in handling data. The Actor Model’s concurrency capabilities enhance the development of gaming applications, where real-time interactions are critical. This concurrent approach, coupled with the speed of execution, sets the stage for next-gen gaming experiences.
Persistent Memory. It refers to the idea that programs don’t use shared storage; instead, their entire state is persisted in individual memory space. It means more effective memory virtualization, with only required pages being persisted and loaded when needed. In blockchain development, this has profound implications. It simplifies the development process by removing many complexities associated with shared storage. Running programs and their states more closely resembles real-life operating system primitives. The security enhancements from both the Actor Model and Persistent Memory directly benefit defi applications. Smart contracts on Gear Protocol can execute with greater efficiency and security, which is crucial for defi protocols.
WASM. The WASM is used as a virtual machine (VM). It enables developers to write and compile code in familiar languages, significantly lowering the barrier to entry. This means that developers from Web2 spaces, accustomed to languages like C++ or Rust, can seamlessly transition to blockchain development. This allows developers to explore experimental and novel use cases. Its modular architecture enables the creation of diverse applications.
BCN: Most decentralized applications are not truly decentralized. Often, many of them rely on third parties for off-chain processing to keep the app features working smoothly. Do you believe that on-chain smart contract automation could make dapps truly decentralized?
PS: One of the prevailing challenges in the blockchain space, particularly in decentralized applications, is the often misunderstood nature of decentralization. Many applications claim to be decentralized but, in reality, rely on off-chain processing or third-party intermediaries for certain functions. This introduces a level of centralization, compromising the core tenets of blockchain technology.
The advent of on-chain smart contract automation holds immense promise in rectifying this centralization paradox. On-chain smart contract automation involves the execution of predefined functions directly on the blockchain without relying on external systems.
This autonomy ensures that critical functions of a dapp, from transaction processing to complex logic, occur within the decentralized realm. It removes dependencies on centralized servers or external entities, fostering a truly decentralized environment.
Smart contracts, when automated on-chain, enable trustless interactions between users or entities. The decentralized and trustless nature of on-chain execution means that participants can engage in transactions or exchanges without relying on a central authority. This is fundamental to achieving genuine decentralization.
On-chain automation extends beyond transactions to include the handling of data. By managing data on-chain, dapps can maintain data integrity without reliance on external databases. This is important in scenarios where data manipulation or corruption risks compromise decentralization. Smart contracts deployed on the blockchain are immutable, meaning their code cannot be altered once deployed. This immutability ensures that the rules governing a dapp’s behavior remain tamper-proof. Unlike centralized systems where rules can change at the discretion of a governing entity, on-chain smart contracts guarantee consistency and transparency.
So yes, I believe that on-chain smart contract automation could make dapps truly decentralized.
BCN: Webassembly (WASM) is said to give blockchain developers the freedom to write and compile code in traditional languages that they might already be familiar with. Could you tell our readers more about WASM and your thoughts on whether it’s capable of communicating with the popular EVM-based smart contracts?
PS: One of the key strengths of WASM is its interoperability. It’s not tied to a specific blockchain or platform, making it versatile for different use cases. WASM code is designed to run in a secure and isolated execution environment, ensuring consistent performance across different architectures.
EVM primarily supports smart contracts written in Solidity. While Solidity is powerful, it has a learning curve, and transitioning from traditional languages can be challenging for developers. There have been efforts to bridge the gap between WASM and EVM by creating EWASM, but it’s a different story. While WASM itself isn’t a direct replacement for EVM, ongoing efforts to integrate WASM with EVM-based ecosystems highlight its potential to expand the capabilities of smart contract development in the broader Web3 landscape.
BCN: Many people seem to believe gaming is the thing that will lead to Web3 mass adoption. Yet, despite the hype over the last few years, we have not seen any successful Web3-native games. What could be the reason for this?
PS: Unlike traditional games, Web3-native games leverage blockchain technology to introduce true ownership of in-game assets, interoperability across games, and novel economic models. The industry is maturing, and developers are recognizing the importance of prioritizing engaging gameplay and user experience alongside blockchain integration. Collaborations between Web3 projects and established gaming platforms can also facilitate smoother transitions for mainstream gamers into the Web3 space.
The immersive nature of gaming presents a significant opportunity for driving mass adoption of Web3. However, challenges such as scalability issues, user experience enhancements, and the shift from centralized to decentralized models must be addressed for Web3-native games to be successful. Overcoming these challenges will create an environment conducive to broader user adoption and engagement.
What are your thoughts on this interview? Let us know what you think in the comments section below.
TemDAO World Heritage Project Helps the Cultural Sector through Democracy-Fueled Donations
PRESS RELEASE. Tokyo, Japan, April 11th 2023, Chainwire. TemDAO is a world heritage project that seeks to protect and preserve cultural assets through donations and democracy. The project, powered by the $TEM token, ensures the long-term sustainability of global cultural sites.
Recently, TemDAO has made notable donations for preservation efforts in Ukraine, Turkey, and other regions worldwide. These actions aim to help communities preserve their existence and their global heritage.
The team underlines the importance of recognizing the significance of preserving the world’s shared cultural history. TemDAO aims to positively impact global culture through its unique strategy and solutions.
The Team’s Strategy for World Heritage and Cultural Assets Protection
TemDAO has an innovative strategy for protecting world heritage and cultural assets. The project intends to empower individuals and organizations to stimulate projects that preserve these important resources.
As a current initiative, the TemDAO team is working with Ninna-ji temple, one of the temples in Kyoto, Japan.
There are many temples in Kyoto, but they have the problem of aging and need to be repaired or rebuilt. Ninna-ji Temple and TemDAO are working together to attempt to reconstruct the temple through donations.
The project relies on transparent transactions in which all expenses are recorded on-chain, making corruption impossible and allowing for offering special utilities to collaborators who agree with their aims.
The proposed utility is the right to stay in a special part of the temple. That room has an important historical significance, where an old emperor used to live. Wouldn’t it be historic to be able to stay in the same room and experience the same feelings?
TemDAO is exploring the possibility of connecting the world of Buddhism at Ninna-ji Temple with the reality of their DAO to achieve sustainable protection and restoration of Ninna-ji Temple.
A System Fueled by Democracy and the $TEM Token
TemDAO is a platform that utilizes blockchain technology to facilitate the protection and maintenance of global heritage sites. It features two forms of democratic governance: off-chain voting, known as ‘soft’ governance, and on-chain voting.
The $TEM token serves as the fuel for this system, with multiple use cases:
- It allows holders to lock $TEM. The operation enables the community to govern fundraising proposals and decide fund allocation.
- It enables the community to pay commission fees for IP-NFT trading.
- Staking $TEM creates a pool for fundraising and project reviews.
- Depositing $TEM allows users to become nodes that review projects while deterring cheating.
The $TEM token distribution aims to provide incentives for all stakeholders in a democratic manner. Specifically, most of the tokens (62%) go to the ecosystem. This includes participants in World Heritage or cultural asset protection and funds for equipment and repairs.
Additionally, 14% of the tokens help the team push its marketing efforts. The same quantity (14%) goes to developing the platform and its supporting services. The remaining 10% is in the hands of TemDAO stakeholders, such as the team, investors, prospective employees, and strategic partners.
TemDAO’s decentralized governance mechanism preserves world history by balancing token utility and fund allocation.
The Project’s Recent Donations for World Heritage Preservation
The TEM project team has recently donated to several organizations to support the people and communities affected by global events. All of these donations were made from $TEM profits.
In particular, they have donated funds to aid Ukraine following the Russian invasion of 2022. The team donated for relief efforts after an earthquake hit Turkey in February 2023. The team has contributed to NPOs and NGOs such as “Save the Children,” “Binance Charity,” and others through these donations.
The project’s mission is to make sure that the world’s heritage is preserved and protected. In such a context, donations represent a direct way of contributing to this goal. The project team is committed to ensuring their donations are put to good use.
About TemDAO
TemDAO is a world heritage protection and development DAO accelerator. The project provides a large ecosystem of resources and support to fund, govern, and develop cultural properties worldwide.
TemDAO uses a decentralized, democratic governance system powered by the $TEM token. This approach preserves and maintains world heritage sites through off-chain and on-chain voting processes and more.
The team has recently partnered with the Giving Block, a popular name in the world of crypto charities. The Giving Block has gradually built a reputation as the go-to platform for nonprofits looking to accept cryptocurrency donations. This partnership is a great opportunity for TemDAO to enhance its mission of protecting the world’s precious heritage sites and accelerating its fundraising efforts.
The project’s recent donations go in the same direction, providing relief and support to communities affected by global crises. By doing so, TemDAO ensures the preservation of the world’s heritage for future generations.
TemDAO’s website and social media pages below provide more information about the platform, its features, and how it works.
Contact
Marketing Director
Kei Sugimura
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
FirstByte Media’s Cosmin Mesenschi on How CryptoGamble.tips Helps the Crypto Community
Cosmin Mesenschi is the Founder and CEO of FirstByte Media. A brand creator with a wealth of knowledge in the crypto gambling industry. His past experiences in the sector have shaped his way of thinking about the market, leading him to find a niche where he could match his own interests with the market’s needs. Recently, we asked him a few questions about CryptoGamble.tips and the benefits it offers.
Q: Let’s start with FirstByte Media. Can you refresh our readers’ memory by explaining what exactly your company does?
FirstByte Media is composed of Brand Creators. Therefore, we create brands that serve users in search of valuable information. By doing so, we are incorporating the knowledge of the crypto and igaming industry we have accumulated over time.
Q: Tell us about all the platforms operated by FirstByte Media
FirstByte Media has three leading brands as of this moment.
Our main one, CryptoGamble, is a crypto casino comparison website that helps players find reliable and accurate information about the crypto casinos and their offers (bonuses, games, etc.)
BettingDose, similar in structure, provides information about crypto betting websites. We aim to educate our users about the betting markets and the advantage of crypto betting compared to traditional sports betting.
MonsterGames, on the other hand, focuses on a rising trend in the igaming industry, crypto esports betting. On our website, players may find all the valuable information about it and learn what esports betting is all about and how they could use cryptocurrencies to bet on it.
And soon more brands will be released, the team is working to develop more suitable projects for our future and current partners.
Q: Can you please explain what CryptoGamble.tips is all about? How does it benefit the crypto community?
As mentioned above, CryptoGamble is a valuable source of information and news concerning crypto casino recommendations. We poured all of our knowledge into this website and are working on improving it and providing our visitors with the most relevant and up-to-date information which will help them navigate the crypto gaming industry. We do so by reviewing each platform through our analysis process to identify and propose an objective view for all the players looking to make clear information about them.
Q: What parameters does your website evaluate before listing any crypto gambling or casino platforms?
The community is the main parameter we use in deciding what casinos to list and which not. Most of the new casinos are researched in forums beforehand, and that’s where we find most of the gambling houses, plus there are others that reach out directly. Lastly, we attend gambling conferences and meet most of the people working for big brands.
Q: If I am a crypto gambling platform operator, how do I get my website listed on CryptoGamble.tips?
A crypto gambling site can get listed by applying via our “list your site” page. Once we get the request, we start our analysis of the platform. Once we determine it’s a good fit for our audience, we review the casino – usually, the process takes 2 weeks. The last step is adding it to our 80+ crypto casino reviews directory.
Q: Do you have any collaborations with gambling platform operators or game developers?
Yes, we do. There are certain brands that we love more than others. However, our collaboration is available only to casinos with a particular rating score. Otherwise, there is no possibility for the casino to be promoted more than others.
Meanwhile, as CryptoGamble focuses mainly on crypto casino reviews, collaboration with game developers is only one of our concerns. Still, we are publishing informative pages about them.
Q: What makes CryptoGamble.tips different from other casino review and rating platforms that are currently available online?
From the beginning, transparency and honesty have been our strongest motivators in overall shaping the website and brand. Keeping that in mind, we have developed a unique, unbiased rating system that can be easily accessible on our website. With the help of said rating system, we determine which crypto casinos are worthy of our visitors’ time and money.
To make things even more transparent, we have recently started streaming on several platforms that include Twitch (twitch.tv/theroyalgambler) Youtube, and Dlive, where we test the casinos in our offer with our users. In this way, the visitors and we can experience the crypto casinos firsthand and build a long-lasting and, more importantly, trusting relationship with our community.
Q: Can you estimate how many crypto gamers have so far benefited from your offering?
From our data since the day we went online (Jan 2020), we helped more than 43k people make better decisions regarding crypto gambling.
Q: What are the future plans for CryptoGamble.Tips?
Our future plans are to focus on and create a bridge between the casinos from web2.0 to web 3.0. That means recreating the standards of comparison websites for casinos in the crypto space.
We will keep our central core of casino reviews and what surrounds them, which include exclusive offers, streaming, slot reviews, game guides, casino tips, and more.
Also, as said in a previous article regarding the future of our market, crypto and gambling will keep on growing and we are making sure to be top of mind for future and current users. These are our plans for the future as a company and as a brand.
In another interview on Sigma Cosmin shares his initial thoughts on how he launched and started his journey in the business. We can see that since the first interview he has overcome several challenges that brought him to be an international entrepreneur and speaker at several gaming conferences.
How Plugin’s Blockchain Technology Helps Industries Adapt To Climate Change
With the growing threat of climate change, many industries need precise weather forecasting every hour. Plugin’s blockchain solution provides decentralized, verifiable weather data.
Problems with existing weather information technology
Weather intelligence platforms collect weather-related information from distributed radar and satellite systems. While this is useful for gathering data from remote corners of the world, it limits the scope of weather forecasts to wider geographic regions, such as cities and states.
These generic weather forecasts don’t provide details on how the weather will change in a specific street or neighborhood. But having this type of information empowers businesses to make more informed decisions.
Why industries need better weather data
Weather data is collected in various ways globally, but the most popular data collection methods are satellites and hyperlocal sensors. While satellites cover a wide range of geography, they compromise accuracy in specific areas that hyperlocal data can mediate. Hyperlocal data collection is the most efficient form of data collection.
One of the largest industries relying on weather updates is the agriculture sector, and the more detailed the weather forecast, the better. Bringing that information to farmers all over the world will prove to be a challenge, although blockchain technology could facilitate the matter.
The future effects of climate change will necessitate better weather information for agriculture. IPCC chairperson “Hoesung Lee” said that “The next few years will be crucial for the state of climate change in this century. This is why an updated assessment of mitigation is more important than ever”.
Why extreme weather increases the importance of weather data
Many industries, ranging from aviation and agriculture to automobiles and transportation, are significantly affected by weather phenomena like fog, freezing rain, thunderstorms, heavy wind, or even a drop in temperature.
The present increase in extreme weather events, accelerated through climate change, is significantly increasing the importance of detailed weather data from trustable systems.
Advantages of putting weather data on the blockchain
With every industry getting disrupted by new technology, blockchain wins over competitors by offering immutability, trust, security, and decentralization. Putting weather data at a granular level on the blockchain powers many use cases with real-time data at the push of a button.
The alternative is a centralized data structure, which is vulnerable to malicious attacks and systemic errors.
XDC’s Plugin Decentralized Oracle Network offers due support here.
How Plugin Weather Forecast Node (Plugin WFN) solves the weather data problem
Plugin, a decentralized oracle built on XDC Network offers decentralized weather data. This data gets collected and processed through registered weather stations (hyperlocal sensors) placed across different places worldwide.
The weather data from these nodes gets collected and processed at near real-time velocity and pushed into a data lake. This can be scaled up highly by setting up similar units across the globe, forming a great data lake.
The information collected in Data Lake is at a granular level. Each weather unit has latitude and longitude coordinates tagged with data. This provides weather information that is cryptographically signed when uploaded to the Plugin blockchain, so anyone who needs weather information for a smart contract can verify its provenance. The provenance information cannot be forged or falsified.
Plugin WFN data providers are duly compensated by Plugin for providing an important fuel for the future: weather data. There are periodic checks performed at registered weather nodes as a measure of quality.
Due to climate change-induced extreme weather phenomena, such weather data is needed for validation and verification of crop insurance claims, which offer payouts when specific conditions are met. It can also be used by commodities investors hedging against drought or even logistics companies to re-route their cargo on land when unfavorable weather conditions persist.
How Plugin’s system will build a new economy
The Plugin Weather Forecast Node use case setup by Plugin on the XDC Network brings the data from various regions across the globe at a granular level. Through efficient data processing from various units across the globe, Plugin’s data lake will build a new economy in the future, decentralized world.
Using the decentralized application UI, users can get real-time or near real-time data from weather units currently deployed across the region. By selecting ‘Country’, ‘State’, and ‘City’, users can view the data at a latitude/longitude level. More filters can be enabled to drill down to the granular level.
These data can be pushed onto the blockchain using smart contracts, and events can be triggered to make insightful decisions.
Plugin Weather Forecast Node is currently open to the community members. In the near future, it will improve the efficiency of many industries, including agriculture, aviation, and insurance.
Plugin (ticker PLI) is listed on various crypto exchanges such as Bitrue, Liquid, HitBTC and Globiance.
The future is here. WELCOME TO THE PLUGIN WEATHER FORECAST NODE (Plugin WFN).
Bitcoin Helps Market Hover Past $2 Trillion As BTC Nears $48,000
Bitcoin and other cryptocurrencies appear to be gaining traction, as the first quarter winds down.
Crypto has reached the trillion threshold and is proving surprisingly resilient in the face of global uncertainty.
As of Tuesday, Bitcoin has totally recovered from its early-year losses. BTC fell from ,733.40 to ,070.10 in the first 30 days of the year and has since failed to regain ground.
At Monday’s all-time high of ,765, market leader bitcoin broke free from the confined ,000-,000 bracket it had been trading in for the majority of 2022.
The cryptocurrency is up 18% as a result of a steady rally from a low near ,000 on March 21. As of Tuesday, the top crypto was trading at ,899 on Coingecko, 16% in the last seven days.
Bitcoin Shows Positive Signs
Despite the favorable market action, analysts cautioned that it is premature to declare the end of Bitcoin’s price volatility.
Market experts will reserve judgment on the volatility until the price maintains its current advances for at least another week.
Its relative stability, at least compared to recent performance, stands in stark contrast to stock markets, traditional currencies, and even safe-haven gold, which have all been roiled by Russia’s invasion of Ukraine and the Federal Reserve’s tightening.
Related Article | Bitcoin Breaks Past The ,000 Barrier Again – Can It Sustain The Momentum?
BTC total market cap at 8.44 billion on the daily chart | Source: TradingView.com
According to futures trading website Coinglass, its 30-day volatility is around 4%, over two-thirds that of June 2021. On March 16, this year’s high was 4.56%.
This indicator reveals a currency’s deviation from its own regular norms, and bitcoin has continued to see wild swings, including a 17% spike on March 1.
It is, however, far less volatile than it was in 2021, when it was capable of fluctuating by up to 40% in a single day.
Touching The Trillion Mark
According to analytics firm CoinMarketCap, the cryptocurrency market’s total worth exceeded trillion on Friday.
To put it into perspective, on Nov. 10, when bitcoin hit ,000, the market briefly surpassed trillion.
The slow climb back above trillion has been supported by the proliferation of coins and tokens – CoinMarketCap now lists 18,511 cryptocurrencies, an increase of roughly 5,000 since November.
Related Reading | Bitcoin Hashrate Swells 15% Since Last Week As Analysts Expect Mining Difficulty To Increase
While Bitcoin continues to be the most valuable cryptocurrency, its market share has gradually decreased from 70% of total value in early 2021 to 42% on Tuesday.
Numerous cryptocurrency investors believed they could discern bitcoin’s fate in advance of the temperamental cryptocurrency abandoning them financially.
Meanwhile, Ethereum (ETH) reached a daily high of ,431 per unit around the same time as Bitcoin (BTC).
At the moment, bitcoin (BTC) controls approximately 40.3% of the .26 trillion market, while ethereum (ETH) controls 18.1%.
Featured image from Vauld, chart from TradingView.com
NewsBTC
Binance Helps UK Police Bring $50M Crypto Criminal to Justice
Leading crypto asset exchange platform Binance has provided information to the UK police force to help bring a fraudster to justice. The unnamed Bulgarian individual pleaded guilty to five counts of fraud and received a custodial sentence for his role in numerous phishing scams.
The convicted fraudster had created phishing scripts that he sold via the dark web. This enabled other criminals to rack up a total of more than million.
Binance Helping to Fight Crypto Crime
According to a post to Binance’s blog, the popular crypto asset exchange has been working closely with the UK’s Cyber Crime Unit. The department is a division of the Metropolitan Police Service.
How #Binance Helped UK Authorities Fight Cybercrime and Keep Customers ‘ #SAFU’
The operation affected roughly half a million victims, with most being targeted via e-mail, and resulted in fraud totalling about £41.6 million British Pounds. https://t.co/h8K4B0ad4B
— Binance (@binance) September 26, 2019
The exchange has provided information that helped with the conviction of a Bulgarian fraudster who created and sold phishing scripts. The scripts were designed to imitate correspondence from 53 different companies.
Sold via the dark web, the scripts were used by other criminals to defraud victims out of a total of £41.6 million, or more than million. They were reportedly circulated mostly via emails.
The crypto exchange blog post reads:
“We also recognize that cooperation with law enforcement entities around the world plays a large part in fostering a safe environment in this space. We are thankful for the UK Metropolitan Police Service, as well as the many other agencies actively working with us, and other industry players, to continue our fight against cybercrime and sustain a healthy, legitimate market.”
The phishing scammer was recently extradited from his native Bulgaria to stand trial in London, England. During the court case, heard last week at the Southwark Crown Court, the individual pleaded guilty guilty to five counts of fraud. The criminal was sentenced to nine years in prison for his deeds.
Cryptocurrency Still a Poor Payment Method for Crime!
Contrary to the beliefs of many lawmakers around the world, cases like this one serve to highlight just how poor digital currency is for committing illegal acts. With most digital assets, all transaction data is stored on a publicly accessible immutable record – the blockchain. With a little digging around and crucial data provided by Binance, or blockchain forensics firms, such as Chainalysis, criminals are frequently discovering that non-privacy-focused crypto assets are not as anonymous as Bitcoin was often touted to be in its early days.
There have been numerous examples of criminals being brought to justice thanks to the paper trail they leave behind when using non-private crypto assets. As the efforts of law enforcement improve with greater experience, it seems likely that this trend will continue.
Related Reading: Is Venezuela’s Bitcoin Stash Really So Bullish for BTC?
Featured Image from Shutterstock.
The post Binance Helps UK Police Bring M Crypto Criminal to Justice appeared first on NewsBTC.
Cash, Card or Crypto Platform Helps Stores Accept Digital Payments
n Many merchants are reluctant to accept crypto, but a payment platform says digital currencies can offer surprising benefits to online and offline retailers SPONSOREDn
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Bitcoin in Space It Helps Connection Woes, Says Blockstreams Adam Back
Beaming bitcoin from satellites might sound far-fetched, but there are serious use cases, according to Adam Back, CEO of Blockstream.
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