Validators Create New Attack Vectors for Decentralized Systems

Validators Create New Attack Vectors for Decentralized Systems

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Bounty0x CMO Pascal Thellman discusses some of the potential security and incentives issues with validators on proof-of-stake networks.

Purported Crypto Cloud Mining Ponzi Reported to Thai Police, 140 Victims Allegedly Scammed Out of $1.3 Million

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Thirty people in Bangkok filed complaints with Thailand’s Technology Crime Suppression Division after they were allegedly scammed by cryptocurrency cloud mining company CryptoMining.Farm, the Bangkok Post reported. A total of 140 victims were allegedly scammed out of more than $1.3 million. The allegations state that the investors were swindled out of 42 million Baht—about $1.34 million.…

Chinese Miners Flock to Sichuan for Cheap Electricity During the Wet Season

Chinese Miners Flock to Sichuan for Cheap Electricity During the Wet Season

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Over the last two months, the hashrate between the Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks has increased significantly since hitting a low on December 15, 2018. Numerous reports detail that many Chinese miners who control a large portion of SHA-256 hashrate have been recently setting up shop in Sichuan. During the wet season…

Report Claims 85% of the Monero Network Dominated by ASIC Miners

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Over the last few years, certain cryptocurrency networks have tried to block ASIC mining with many fruitless attempts to forge ASIC-resistant protocols. Multiple cryptocurrency developers have attempted to brick ASIC miners, but with scant success. A perfect example is the privacy-centric digital currency Monero, a project that has tried to fork the software multiple times…

Analysis Suggests that 85 Percent of Monero Network is Dominated by ASICs

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Within the last 40 days, analysis suggests that Monero is once again dominated by ASIC mining, with 85 percent of the network hash rate coming from this specialized computer hardware. The author was able to detect this new wave of ASICs via mining nonce forensics. Background on Monero Monero is an open-source cryptocurrency created in…

Ethereum Classic’s 51 Percent Attack Highlights the Challenges of Proof-of-Work Coins

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On Jan. 5th, Ethereum Classic (ETC) suffered a 51% attack losing a total of more than US$1 million spread over 15 different transactions. The scale of this attack can offer some lessons to the challenges faced by blockchains secured by Proof of Work (PoW). This is not the first majority attack that has occurred. In…

Largest Bitcoin Mining Pools Gutted as Bitmain Reels

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The two largest Bitcoin mining pools, BTC.com and Antpool, have lost a large chunk of their hash power over the crypto winter. The two Bitmain owned pools signaled the mining market’s implosion, culminating in Bitmain laying off 50 percent of its workforce. At the beginning of 2018, Bitmain’s mining pools BTC.com and Antpool were the…

Learn About the BCH Network With Bitcoin.com’s ‘Mastering Bitcoin Cash’

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At Bitcoin.com, our web portal hosts a developer section aimed at providing Bitcoin Cash (BCH) developers with the resources and tools to program killer applications using the BCH protocol. The developer.Bitcoin.com section has now added an educational resource for newcomers and veterans called Mastering Bitcoin Cash. The documentation offers a comprehensive overview of BCH basics…

Zcash Mining Mysteriously Spikes Despite Low Profitability

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Zcash’s network hash rate has mysteriously spiked by over 40 percent since Dec. 10th. It is unknown what is causing the spike, but it could indicate a growing ASIC presence on Zcash, or, more likely, that a large mining conglomerate is returning to the fray. According to information from BitInfoCharts, from Dec. 10th to 18th,…