Bitcoin Hash Rate Reaches A New High After Surpassing 102 Quintillion Setting A New Network Milestone

Bitcoin network appears to be growing strong day by day. The latest reports show that Bitcoin network’s hash rate has reached a new high surpassing 102 quintillion hashes and setting a new record.

Reliable data from monitoring platform Blockchain revealed on Wednesday that Bitcoin’s hash rate has reached a new high of 102.8 quintillion hashes. The latest new record comes after several records this year.

Hash rate is the total computing power that is necessary in the processing of Bitcoin transactions. A higher hash rate implies that there are many Bitcoin miners out there. The high hash rate also signifies that Bitcoin network is more secure at the moment and cannot be easily infiltrated.

Bitcoin’s hash rate has been on the rise since December 2018 when it was at 31 quintillion hashes per second. The new high means that the hash rate has increased by about 230% since December 2018.

Bulls Excited by the New Hash Rate

Following the revelation of new hash rate, majority of Bitcoin worshippers have shown enthusiasm going by their comments. However, the high hash rate comes at a time when Bitcoin has registered a slight decline in its value trading below the $10,000 mark.

Many commentators remain optimistic that the new hash rate may trigger a price increase for Bitcoin in the near future.

In his twitter account, Lightning Torch organizer Hodlonaut, stated that the new hash rate figures highlight that miners have high confidence in Bitcoin. He forecasted that Bitcoin’s price may rise by 11.85% in the near future. He stated:

“Last readjustment period (2016 blocks, or around 2 weeks) increased 10.38%. We are about half way through the current readjustment period, and on track for another 11.85% increase.”

Majority of Bitcoin worshippers have given their bullish forecasts with some remaining adamant that the king coin will reach a fresh historical high before the end of the year. It remains to be seen whether the prices will follow the hash rate growth. Keep it here as we will keep a hawkish eye on the developments in the market following the new high in hash rate.

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Author: Joseph Kibe

Breez Enables Credit Card Use When Buying Lightning-Powered Bitcoin Now

Breez, a new payment startup, has recently unveiled the latest feature of its project, which is set to allow lightning-based BTC purchases directly from its app. These purchases are only possible because of a recent partnership that the company started with MoonPay.

The services will initially be available in a total of 35 different countries and have the goal of simplifying lightning payments.

In case you do not know, the Lightning Network is a layer 2 scaling solution for the BTC network. It was launched at the beginning of 2018 and it has gone quite a long way so far in fixing these problems despite a rocky launch. The technology is still experimental, but it is starting to shape up as a great solution.

According to the CEO of Breez, Roy Sheinfeld, this may even look like a somewhat simple achievement, but nobody has done it before.

Since the start, Breez was always about being more than a simple wallet, the service was meant to be a “holistic experience”, Sheinfeld affirmed. It needs to be UX focused and to provide solutions that no one has been able to provide before in order to make its clients happy.

Before now, the users needed to buy BTC before they could enter the Lightning Network and then move the BTC from its normal wallet to an LN wallet. This new option cuts time and allows the users to enjoy a more streamlined experience.

According to Sheinfeld, users will not need to verify any information if they want to buy less than 150 EUR worth of BTC. To buy more than that, they would need to pass a Know Your Customer (KYC) verification first.

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Author: Gabriel Machado

LG To Develop A Blockchain Phone To Rival Samsung’s Klaytn And HTC Exodus 1 Smartphones

LG, the electronics giant from South Korea, is working hard to remain competitive and the latest move of the company was to imitate its competitor Samsung and launch its own blockchain phone, local sources told the Chosun media outlet.

According to the local news site, an insider from LG affirmed that the Korean company would respond to Samsung by launching their own phone soon. However, LG is also reported to be hitting roadblocks on the way, as the process is considerably less easy than it looks.

Klaytn Phone, the product launched by Samsung, stole the spotlight recently and will come out with wallet created by Kakao’s subsidiary GroundX. The phone is a Galaxy Note 10 variant that costs $1,000 USD and was specifically created for the local markets.

Before the launch, Samsung had already dipped its toes in the market by launching the Galaxy S10, which had some crypto options such as wallets but was not a fully developed blockchain phone yet. The phone could also download some decentralized applications (dapps), too.

This could, according to the experts, open up the “blockchain smartphone floodgates”. Several companies are bound to imitate the move and this may popularize this market, which is still pretty niche.

Another important doubt in the heads of the investors right now is whether the launch will be only local or global. The Klaytn Phone will be only launched locally at first, as it is an expensive and complex product and it does not seem that LG believes that it is ready for the global market right now.

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Author: Hank Klinger

RippleNet Adds Another Bank Partnership in Pakistan’s Faysal Bank Limited (FBL)

Ripple is focused on spreading its business through the whole world and the latest company to join its efforts is the Faysal Bank, the first company in Pakistan to be able to join forces with Ripple. Now, the largest private bank of the country will become a part of the famous RippleNet.

This partnership was celebrated with an official ceremony, which was held in Karachi, the capital of the country. The CIO of the bank, Dato Arif Siddiqui, has affirmed that the goal of the new deal is to provide the people of the country with ways to send money abroad efficiency and cheaply.

Faysal Bank is set to use one of the most popular solutions devised by Ripple: xCurrent. This means that the bank will not directly use the XRP tokens, only RippleNet. Ripple also has other popular solutions such as xVia and xRapid, but none of them will be used by the Pakistani bank at the moment.

Right now, Ripple has over 250 partners and it is ready to become one of the most important global networks for cross-border transfers, competing with SWIFT, the already dominating system.

In fact, the Middle East and North Africa (MENA) region are becoming increasingly important for Ripple. The company is looking for several partnerships in the region to upgrade the quality of its business and to improve the strength of its network. This region is well-known for being wealthy because of the oil reserves, so it makes a lot of cross-border transfers.

Recently, Ripple started a partnership with another bank in the region, the National Bank of Kuwait. The bank will now use Ripple solutions for cross-border transfers as well.

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Author: Gabriel Machado

Can Bitcoin’s Price Go Under $8,000 Again? This Trader Thinks So

After its latest price drop, Bitcoin went from just over $10,270 to under $9,700 USD. The short-term probability is that Bitcoin may go down even more right now. Even the dominance of Bitcoin, which was over 70%, was pushed down to 69% at the moment.

Now, a well-known BTC trader known on the internet as Angelo has affirmed that there is a big chance that the price of BTC may go down to $8,000 USD. According to him, the liquidation of long contracts could have a huge impact on the market.

If the market breaks below the $8,000 mark, some traders may capitulate and this means that the value can drop even more. It looks like the bull run may be over and there’s another bear market just around the corner.

As people are not psychologically prepared to see the market going down so fast, an abrupt change in market sentiment may happen and a huge crisis can begin.

The reasons why the prices are going down are not yet fully known. Some people have claimed that it is related to market manipulation while others believe that it has to do with the U.S.-China trade war. According to the ones who defend this idea, geopolitical risks are making these investors choose gold and U. S. bonds instead of crypto.

While equities are going down in value, gold is going up, which corroborates this theory. In any case, we have to wait before deciding that the bear market is here again. If the coin is able to regain its value quickly, the crisis can be averted.

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Author: Bitcoin Exchange Guide News Team

Brave Blockchain Browser Crypto Wallets Will Support Ethereum And ERC20 Tokens

The open-source browser Brave has decided to upgrade its crypto wallet in its latest update. Initially, the wallet was created to be focused on the Basic Attention Tokens (BAT), which are used in the browser.

However, now it was announced by Alex Wykoff, a researcher of the platform, that a new feature would be introduced: Ethereum and several ERC20-based tokens would start to be accepted at the platform.

According to him, the wallet of Brave is a standalone product that you can use even if you do not use the Brave browsing program. It was also highlighted that it is focused at people who already know a bit about the crypto world and are at least somewhat familiar with cryptocurrencies.

It was also informed that a system for people to transfers their assets between the crypto wallet and Brave Rewards will be created soon and that they will finally be able to directly transport their tokens to their wallets using it.

In a possibly controversial move, Brave will require a Know Your Customer (KYC) procedure for the users trying to move their assets out. According to the company, Brave has no interest in knowing who its users are, but it still has to comply with current laws of the financial sector.

Brave, in case you are not familiar with the platform, is a browser that you can use to browse the web without ads. Any advertising that you see will be because you choose to do it and you get paid BAT tokens for watching it.

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Author: Hank Klinger

Researchers Exploit Canon DSLR Camera and Demand Bitcoin Ransomware in Latest Hack Attack

Cybersecurity researchers are always looking for flawed systems in order to expose vulnerabilities. The latest effort was made by a group of researchers who hacked a Canon EOS 80D DSLR camera in order to test a ransomware scheme.

The researchers from Check Point Research used the Picture Transfer Protocol (PTP) of the camera in order to exploit the system and hold all the photos away from the user. PTP services are generally used to transfer images and can be exploited in order to prevent the user from doing it.

Many new cameras have it as you can transfer photos using WiFi instead of a USB device, but this opens up a breach that hackers can you to take your photos and then ask ransomware for them if you ever want to have them back.

If a hacker is able to put malicious code into the camera, he can take control of the pictures and then demand ransomware. During their tests, the researchers discovered a way of doing it to encrypt the storage systems of the device.

After that, they could contact the victims and offer the keys to decrypt the camera’s files in exchange for money.

The researchers affirmed that hackers have achieved a moderate level of success with this kind of threat, especially by targetting photographers and other people who rely a lot on photos.

Canon developers were warned about the vulnerability this year, so they patched it up before Check Point Research made it public. Because of this, at the moment, the hack is not supposed to work on any kind of model in the market.

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Author: Gabriel Machado

Cardano Allowed to Join CDF to Participate in Promoting Regulatory Guidelines

Cardano-Allowed-to-Join-CDF-to-Participate-in-Promoting-Regulatory-Guidelines

Cardano Foundation is the latest highly-ranking company to join the Global Digital Finance (GDF). By joining the famous industry membership body whose core mandate is to preach about the need to embrace the best practices on crypto assets, Cardano expects to be part of the push.

According to the official announcement, Cardano was reportedly granted membership on Thursday having gone through every single step companies go through to be admitted. In the end, the Global Digital Finance, through their Twitter outlet, welcomed Cardano.

CDF Works Hard to Promote Adherence to the Best Practices for Cryptoassets

Global Digital Finance, or simply GDF, as it is popularly called, is an industry membership body based in London. It mostly creates a full code of conduct and work principles that govern token sales, tokenization platforms, funds as well as fund managers. The body also reviews members’ websites to ensure that they are always complaint with a particular set of standards.

GDF, however, doesn’t operate like a dormant organization in the crypto industry. With Teana Baker-Taylor as its Executive Director, Global Digital Finance regularly participates in popular meetups and discussions in the industry.

In fact, Baker-Taylor is set to be a panelist at the Barcelona Trading Conference slated for later this year. Others on the panel will include Rivver’s Samuel Katz, Agada Nameri from 21M Capital and the founder and CEO of Cytexlabs, Tomar Weiss. One of the key points they’ll be discussing is the legal landscape in the industry.

Being Part of Those Setting the Rules in the Industry

For Cardano Foundation, however, GDF isn’t the only organization is has joined. It is firmly in a host of GDF-allied working groups, especially those that are involved in all-things KYC/AML, custody, Stablecoins and all issues relating to security tokens. Cardano is also keen on being part of organizations working hard to promote integrity in the market and tax treatment.

Speaking after getting admitted to GDF, Cardano’s director of global PR, communications, and marketing, Bakyt Azimkanov said they would use the newfound collaboration to help further the body’s quest to create the best practices. He said Cardano Foundation would help strengthen the group’s ongoing push to initiate robust governance policies and improve the crypto asset market develop.

Cardano Foundation, alongside IOHK and EMURGO, is working hard to develop the Cardano blockchain further. The Foundation is also working hard to expand its reach and attract more crypto enthusiasts into its ecosystem.

Cardano’s founder, Charles Hoskinson, is optimistic that their project could even dwarf Facebook once they release their Blockchain products. At the moment, Cardano is banking on its partnership with AlgoZ to boost the liquidity of its native coin, ADA.

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Author: Lillian Peter

VeChain Foundation to Buy Back $25 Million Worth of VET Tokens

VeChain Foundation to Buy Back $25 Million Worth of VET Tokens
  • VET surges over 4% on the back of buyback plan
  • After Tron and Bitfinex’s LEO, VeChain is the latest one to announce the buyback plan

VeChain Foundation took to Twitter to share the exciting and bullish news with the community that involves a buyback plan.

Per this announcement, Sunny Lu, the CEO of VeChain, during the AMA marathon, announced that the VeChain Foundation Steering Committee has decided to conduct a VET buyback plan of up to $25 million USD over the course of the next twelve months.

This buy back plan reportedly will be used to incentivize the ecosystem builders for long term success.

VeChain is the 28th largest cryptocurrency with a market capitalization of $463 billion. Its token VET is currently trading at $0.0083 with 24 hours gains of 4.48 percent, at the time of writing.

The community is excited about this news as is VET which is among the few cryptocurrencies that are in the green as top digital currencies are down 3 to 8 percent. It is also the only coin among the top 35 that is green by over 4 percent.

VeChain, however, is not the only one to come up with the buy back plan. Earlier this week, Tron Foundation announced a $20 million buyback plan that is part of its initiative to boost community activity and market stability. The official announcement reported it to be the largest Tron buyback plan so far and on January 1, 2020, it will reveal its TRX holding.

This month itself, crypto exchange Bitfinex announced a transparency initiative to provide a full view of the buyback and burning of its LEO exchange token. Binance, the largest cryptocurrency exchange already had a buyback and burn plan for its native digital currency Binance Coin (BNB).

This buyback plan followed the big news of Walmart China joining Vechain and PwC for its new blockchain traceability program.

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Author: AnTy