New Open-Source Code Vulnerability Was Found and Fixed In Facebook’s Libra

A recently discovered vulnerability on the open-source protocol of Facebook’s Libra was just fixed. The vulnerability was originally discovered by OpenZeppelin, a third-party audit company that is focused on crypto products.

The developers of the company have found some vulnerabilities in the scripting language created by Facebook, which is called Move. According to the company, the vulnerabilities were pretty severe and could lead to huge problems if the code went online before they were addressed.

OpenZeppelin’s CEO Demian Brener affirmed that one of the vulnerabilities allowed hackers to use smart contracts disguised as inline comments and they could use it to steal money. Fortunately, the issues have been patched as soon as possible, so these flaws will never actually see the light of day.

The auditor company was originally created back in 2015 and it has worked with several high-profile initiatives so far, including organizations such as the Ethereum Foundation, Coinbase, and the Brave browser.

The Move script was mostly devised by the developers of Calibra, the company created by Facebook to handle the project. They have defined the most important features of the technology, but since the code is open, anyone can give their opinions on what works or not.

According to Brener, audits are becoming more important to the industry each day. Crypto projects are getting considerably bigger as time passes, so more third-party audits are needed for them to work well, as no team can completely audit them alone.

Libra has a very complex system, just like many other recent tokens. These products will be used to manage a lot of money, so making sure that they work well is needed.

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Author: Gabriel Machado

Should Ripple Burn XRP To Pump Prices as Investors Disgusted in Company Dumping New Coins Into Market

XRP’s Next Move Going to be “Explosive,” says Analyst as Ripple Looks to Break Out in 2019

Bitcoin was created with a fixed supply. It was, according to Satoshi Nakamoto, an anti-inflation measure. This way, there would be no mechanism to keep introducing more coins in the market. Ripple has followed the opposite route. The XRP market has innumerous tokens locked and Ripple can toss them into the market at any time.

This prompts the prices of the token to remain stable or low because there is never a shortage of tokens since they are constantly being released. Ripple works just a like Central Bank in this regard.

Now, a trader called Crypto Bitlord has started a petition so that Ripple should burn half of its XRP tokens in order to boost prices. With the supply reduced, the prices would rise. The main argument of the petition is that Ripple keeps dumping XRP on the market and it affects the price. This is unfair because the company holds over 50% of the total tokens.

So far, the petition is only half successful and just has over 300 signatures, but the idea is at least interesting. It is a good idea?

To Burn Or Not To Burn

Ripple is probably not burning the tokens. It can gain a lot of money by actually selling the tokens and what will the company get by burning them? Nothing.

Unlike its so-called decentralized system, Ripple is a company. It looks for profit. Because of this, its major interest is catering to banks and other financial institutions that can use its projects, not only its community of investors. Traders will possibly get upset, but it does not seem that things will change anytime soon.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Gabriel Machado

CoinMine Now Allows Mining Enthusiasts to be Paid in Bitcoin (BTC)

CoinMine-Now-Allows-Mining-Enthusiasts-to-be-Paid-in-Bitcoin-BTC
  • As things stand, Coinmine One is still in its testing phase — as a result of which fixed monthly returns are still not guaranteed on any mining activities carried out through the use of the machine.
  • The device is currently priced at $799 ($699 with a special BTC discount).
  • According to an all-new press release issued recently, Coinmine — a crypto mining rig that is aimed primarily at casual altcoin enthusiasts – will now provide its users with the option to be paid in Bitcoin [BTC].

For those of our readers who may not be aware, the device previously allowed owners to only mine selected alt-assets such as monero, zcash, grin and ethereum. However, the rig now allows users to receive their payouts in BTC.

Additionally, according to the firm’s founder, Farood Nivi, Coinmine One comes preloaded with the latest version of MineOS – as a result of which the device has the innate ability to convert its mined crypto-assets into BTC at the highest rate possible (before transferring them into the owner’s linked wallet address.)

Talking about his company’s latest offering, Farood was quoted as saying:

“This way you’re getting way more Bitcoin than if the device was mining Bitcoin directly.”

In a recent interview with a respected media outlet, Nivi stated that Coinmine is essentially an experimental tool for miners who are looking to enter this burgeoning market space.

  • The device offers users with a less energy-intensive mining option when compared to other traditional rigs available in the market today.
  • From a purely numbers standpoint, we can see that CoinMine One currently has the ability to generate anywhere between $15-20 worth of BTC per month. With that being said, it should be pointed out that these numbers purely depend on the future market performance of the flagship crypto coin.
  • A number of experts believe that CoinMine is one of the cheapest/ fastest ways for mining enthusiasts to make use of BTCs Lightning Network.
  • In closing out this piece, it should be mentioned that the Coinmine One mining rig will undergo its latest BTC upgrade within the next 24 hours.

As per Farood Nivi — the founder of CoinMine — the firm will be partnering with Compound Finance, Cred, and Blockfi so as to help their core clientele reap maximum returns on their already mined crypto-assets.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Shiraz J