Analyst: Monero Network Dominated by up to 85% by ASIC Miners
An analyst under the name “MoneroCrusher” has published a report that indicates that mining activity on Monero’s network is dominated by ASIC miners. According to his report, up to 85.2% of the mining activity could be linked to ASIC miners. The blogger came to this result by observing the nonces on Monero’s hash network. Nonces are arbitrary numbers that serve the purpose of one time authentication. This way an attacker in a replay attack could not reuse older information. ASIC miners centralize the network and make 51% attacks more likely.
Eva Kaili, A Greece MEP Is Spearheading Blockchain Technology Discussions At EU Level
A Member of European Parliament from Greece, Eva Kaili, is introducing a series of discussions at EU Parliament about Blockchain technology. The MEP elected in 2014 envisions a European Union region that has concrete policies regarding the nascent technology that is touted as revolutionary. According to a Ripple Blog post, the MEP is seeking to kickstart the long-awaited conversation among lawmakers in order to regulate not only Digital Assets but also Blockchain technology. Eva was speaking in a Ripple Regionals event in London when she explained her plans pertaining to DLT and Cryptos.
Chainanalysis Collects $30 Million In Second Funding Round
“Whatever can happen, will happen”, is one version of Murphy’s law. It was and still is possible that the government spies on BTC users by analyzing the blockchain. So it will do so if it is not already doing it anyway. If not then the government and many businesses will be closer to do so through a company called “Chainanalysis”. The company announced yesterday that it collected $30 million in a second funding round. In a prior funding round back in April 2018, Chainanalysis already collected $16 million. Chainanalysis describes itself as building “trust in blockchains between people, businesses and governments”. In reality, it makes blockchains compatible with compliance and surveillance.
Coinbase Cryptocurrency Wallet Now Offers Cloud Storage of Private Keys
Coinbase cryptocurrency wallet offers the most convenient storage solution to thousands of cryptocurrency owners across the globe. In a bid to improve its functionalism, Coinbase, one of the most prominent cryptocurrency exchanges in the world has launched a new feature that allows their customers to store private keys in a secure cloud. The main idea behind this innovation is to give Coinbase cryptocurrency wallet users a safe landing in the event that they lose access to the device that the software is installed in. Or if they happen to misplace their wallet’s private keys.