Breaking in the Italian BitGrail Exchange last week and stealing of $ 17,000,000 XRB sparked an active discussion between prominent representatives in society.
Blockstream co-founder and leading Bitcoin Core developer Gregory Maxwell criticized the founder of Ethereum Vitalik Buterin for supporting the so-called “rescue hardforks” for recovering stolen crypto during hacker attacks. This was preceded by a Twitter-dispute between the largest community of bitcoin-traders Whalepool and Buterin.
The lesson Ethereum’s operators are teaching is implicitly this: When Vitalik’s funds are lost due to a contract executed to the letter with unwelcome results: Great choice. – Maxwell wrote on Reddit.
The founder of Ethereum also said that hardfork can be a good way out for blockchains at an early stage of development in emergency circumstances.
Some people believe that it is the possibility of a “rescue hardfork” that gives the Altcoins an advantage over Bitcoin. Maxwell strongly disagrees with this position.
When Vitalik’s funds are not lost, but an even larger dollar value is lost due to terrible foot-gun “address” design and Ethereum software misbehaviour: Bad choice.
The point they’re missing? No one should have that power. If there is even a choice to make the system has already failed. Paypal and Visa do reversibility better and didn’t require a pre-mine now worth billions of dollars.- stressed Maxwell.
Arizona can become the first US state, whose residents will soon be able to pay taxes using cryptocurrency. The corresponding bill was passed by the State Senate this week.
16 senators endorsed the bill, 13 legislators opposed it, but in the end, a three-vote margin was enough to pass the document. Now the bill will be forwarded to the Arizona House of Representatives for further consideration.
How can it change the life in Arizona?
The representative of the Republican Party Jeff Waninger noted that changes in the state’s tax law will make Arizona a comfortable place to live for users of new technologies. He also believes that in this way Arizona sends a signal to everyone in the US and the rest of the world that in the future the state will be open to blockchain and digital currencies.
At the same time, the representative of the Democratic Party, Steve Farley, warns that the bill shifts the “load of volatility” of bitcoin prices to taxpayers who will continue to use the US dollar.
“It would mean that the money goes to the state and then the state has to take responsibility of how to exchange it,” said Steve Farley.
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Nexus Earth Partners has announced a partnership with blockchain platform SingularityNET. They will conduct research on the joint use of artificial intelligence and blockchain technology. As reported on the company’s official website, this cooperation can lead to the creation of a blockchain AI as the most secure and flexible infrastructure.
The head of SingularityNET, David Hanson, stressed that this technology might become the most valuable in the history of mankind.
” It will become the single most valuable technology in all of history. This is the chance for us to change the world together,” Hanson said.
Both companies seek to decentralize artificial intelligence and increase its safety, create technologies that will benefit society, rather than individual corporations and governments. Moreover, they set themselves the task of reducing the cost of artificial intelligence and making it accessible to more people.
The world’s most famous humanoid robot Sofia is based on artificial intelligence, loaded into the SingularityNET blockchain platform.
The smallest in terms of assets the Bank of Canada VersaBank announced the creation of a digital vault for cryptocurrency. The new service will be launched in June.
“We’re using what banks are all about — safety and security — only what we’re doing now is saying that physical box in the basement is getting obsolete,” said David Taylor, chief executive officer.
Secure and Super Private Place
To work on the new service, the bank attracted the BlackBerry specialist Gurpreet Sahota. He will lead the team of developers of virtual storage VersaVault. The digital assets will be stored on servers around the world. As in the case of safe deposit boxes, the bank doesn’t know what is inside. In addition, the financial institution will not even have access to the contents of the storage.
“Our differentiator in this market is to be secure and super private,” said Taylor.
The large funds have already shown interest in the novelty. The cost of services in the bank has not yet been determined, but it will not be “cheap”.
LitePay is the new processing service for the Litecoin cryptocurrency. It will be launched in the near future and will allow companies and merchants around the world to quickly and easily accept “digital silver” as payment for goods and services.
The beginning of work on LitePay was announced by the Litecoin Foundation in December of last year. Now the developers are ready to present the product to the general public.
Users will also be offered the opportunity to order a debit card that can be replenished with any wallet and used to withdraw cash from any compatible ATM. The website of LitePay does not say which payment platform supports the cards.
The popular Bitcoin-processor BitPay currently takes a commission of $5.00, and the confirmation of transactions takes a lot of time.
Taking into account the faster and cheaper transactions offered by Litecoin, such a service can be not only more profitable and convenient, but it will also help to broaden the adoption of this cryptocurrency and increase its liquidity.
The NEM Foundation tracked the stolen funds for a total of 58 billion yen ($ 533 million) in XEM-equivalent to an anonymous address. The intruders began to withdraw money directly to six crypto-exchanges.
The organization stressed that hackers send 100 XEM to numerous and unrelated addresses in order not to provoke activation of AML-mechanisms on crypto-exchanges.
“[The hackers are] trying to spend them on multiple exchanges. We are contacting those exchanges,” told Singapore-based McDonald.
The stolen funds made up approximately 5% of the total supply of XEM, which, according to McDonald, makes sales impossible on such a scale because of the market’s inability to “absorb such a quantity.”
However, the XEM rate has been in a downward trend for several days on expectations of a large sell-off from hackers. In addition, it is negatively affected by the news about the judicial summons received by Bitfinex and Tether Ltd from the US Futures Trading Commission (CFTC).
At the moment, NEM is trading around $ 0.76 according to the analytical resource CoinMarketCap.
On Friday, January 26, representatives of Coincheck confirmed a large-scale attack and theft of $ 530 million in NEM-equivalent.
Specializing in the sale of real estate Japanese startup company Yitanzi announced the plans to accept bitcoins as a payment.
Currently, one commercial property is for sale – a small building worth 547 BTC (approximately $ 6.4 million at the current rate).
The technical director of Yitanzi Yokozawa Yuske reported that now many crypto-enthusiasts are looking out for the real estate market, seeking to spend investment income. Yuske also noted that the Japanese real estate market has a large number of sellers who are ready to receive cryptocurrency as payment.
According to representatives of Yitanzi, the building will be sold for bitcoins in several weeks. Moreover, in the future, the company is considering the option of accepting the second largest cryptocurrency Ethereum.