PIVX And 200 Other Proof of Stake Blockchains May Be Vulnerable, Lunar Digital Assets Affirms

It seems that PIVX, a popular private transactions crypto, may be vulnerable to attacks together with 200 other chains. According to a recent report made by Lunar Digital Assets, there is a vulnerability of the system that can be currently exploited. Every chain using PIVX or its variants is possible to be attacked this way.

Basically, the attacker could exploit this specific vulnerability in order to get impossibly high staking rewards using the proof of stake system of the network.

This is not the first that this vulnerability is exploited. As soon as the PIVX devs found out about it, they rushed to fix the issue. However, another developer, BitGreen, has noticed that the problem was being exploited once more. Someone has probably figured how to undo the progress made by the team and started to use the exploit.

As soon as the developers discovered it, they notified all related companies of the bug and now PIVX is working once more to solve it and stop the attacks.

People Are Accusing the PIVX Team

The situation got heated recently after some people started to claim that the PIVX team might be behind the attacks. According to critics, the team knew of the bug and did nothing about it or failed to fix it properly.

Some others criticized the team for not having a timely response for the problem and simply standing still while the problem was still out there. This led some critics to theorize whether people from the company were exploiting the bug for money and used this inside source in a malicious way.

At the moment, the PIVX team has not explained publicly why the problem was not fixed months ago.

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Author: Bitcoin Exchange Guide News Team

Tokenized Securities Can Be Settled on tZERO’s Public Blockchain, Following Patent Win

Tokenized-Securities-Can-Be-Settled-on-tZEROs-Public-Blockchain-Following-Patent-Win
  • tZERO can now settle transactions involving tokenized securities on a public blockchain ledger.
  • The tech platform is a subsidiary of Overstock.

Overstock’s tZERO platform makes it possible to participate in security token trading, and they’ve been making progress in their presence in the cryptocurrency industry lately. According to The Block, the subsidiary has just been granted a new patent that allows tokenized securities to be settled on the public blockchain directly.

tZERO announced the news on Tuesday, saying that the new technology will record trade data, along with the on-chain settlement data. The tech, which is being called Time Ordered Merkle Epoch (TOME), will post these details to the public blockchain ledgers. The use of TOME will also create a record of transactions that is fully immutable and auditable.

CEO Saum Noursalehi stated,

“It can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data.” Noursalehi added that the announcement shows the company’s “technological leadership in blockchain innovation.”

This is not the first patent that tZERO has gotten this year. Earlier in 2019, the platform secured a patent to create a “Crypto Integration Platform,” which makes it possible to merge cryptocurrencies with the legacy trading systems.

tZERO was founded in 2014, aiming to use blockchain technology as a way to change up Wall Street and the traditional financial market.

[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: Hank Klinger

LocalBitcoins Witnesses Surge in Trading Volumes in RUB Amid Cash-Trade Ban

LocalBitcoins-Witness-Surge-in-Trading-Volumes-in-RUB-amid-Cash-Trade-Ban

LocalBitcoins will no longer accept transactions involving Finnish currency, according to the latest news in the crypto industry. The famous Peer-to-Peer cryptocurrency exchange based in Finland, announced this latest development early in the month, a decision which many local crypto enthusiasts believe will dent the country’s image.

Finland isn’t among the largest countries embracing digital assets in Europe. But with LocalBitcoins discontinuing use of the national fiat, many believe that this will hurt its reputation in the crypto world.

Yet, barely a month is gone, but a particular pattern is starting to form. According to CoinDance, the crypto exchange’s weekly chart has started to show the effect of the ban, with the Russian Ruble (RUB) showing growing volumes. The exodus started in June 1st, though it is still likely that the volume will drop.

Many leading companies are already seeing the pattern describing the fast plummet, although Russia’s capital is the most conspicuous. During the first week of the month alone, trades registered a record high of RUB 1,174 million in volume, before it fell to RUB 1,104 million by the end of the second week.

But the surge resumed soon after, with the volumes going back to the May 2019 highs. The fourth week of June finally recorded an incredible RUB 1,188 million in volume. The graph detailing the change effectively painted Russia as a hot market for LocalBitcoins.

For a while now, LocalBitcoins has been maintaining impressive records in South America. The exchange’s weekly volumes across Columbia, Peru, Venezuela, Chile, and Argentina have always remained high. But the announcement also had an impact in the trading volumes.

In Buenos Aries, its weekly volumes from the start of the month to mid-June reduced from $13.71 million to $10.53 million. The cash-removal directive also affected the exchange’s performance in Columbia where the volume traded reduced from May’s $9.98 billion to $7.16 billion recorded, during the first week of June. The amount has, however, stabilized at $9.2 billion.

It should be remembered that the decision to ban fiat trades wasn’t arrived at overnight. It is something which LocalBitcoins had been pondering about ever since the local financial watchdog, the Financial Supervisory Authority [FSA] was introduced.

The body came into existence in March 2019, but even with its existence, the law is expected to fully come into effect later in November 2019. The law will classify cryptos as legal assets, identified by the Finnish law. Other changes to the law include amendments on the Anti-Money Laundering laws as well as the Countering Financial Terrorism Act.

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Author: Lillian Peter

Popular Crypto Charting Platform TradingView Sees Bug Surface Causing Significant Losses for Users

Popular Crypto Charting Platform TradingView Sees Bug Surface Causing Significant Losses for Users

There are many benefits to digital trading such as the swiftness of transactions and the ease of communication. At the same time, there are also the adverse effects of technological errors and malfunctions which can have catastrophic results.

This has been evident in the number of hacks that have occurred within the crypto industry which has led to the loss of hundreds of millions of dollars across several exchanges.

One of the most recent examples of technological error, however, was not due to malicious hack and the stealing of crypto but rather a bug that occurred in the retracement display for TradingView, a popular platform for traders and stock analysis. The bug in question manifests itself on the platform display and it has allegedly lost traders an incalculable sum of money thus far.

So far word has been going around the trading community about this bug and a Twitter user by the name cryptoteddybear has put out a video and a series of tweets explaining how exactly the bug works and warning others to realise as well as TradingView itself to take action.

The Bug

According to the video and tweets the issue on the platform begins when the default views presented by TradingView are measured.

The video demonstrates using the ethereum/USD chart which shows the retracement of the Fibonacci line which appears to be incorrect.

As damaging as the bug allegedly is, tradingbear says that he has been paying user of TradingView’s services and that the bug in question had first been reported to TradingView over five years ago by another user but the issue was never corrected.

“In log scale you would expect Fibonacci to calculate retracements in percents, but it does it for absolute values and adjusts as you move the tool,” the user said.

TradingView allegedly stated that they will be doing something about it but this was over a year ago and no corrections has been made.

This is particularly troubling considering that TradingView is used in both stocks and crypto trading circles and the site is also a social community and suite of tools to help people make trading rules. Users of the platform can gain a following by posting their ideas to the site and publicizing their skills.

Those most vulnerable in the trading community are those who make use of the Elliott analysis techniques. Those people should not be making use of TradingView due to terror but the platform has continued to grow none-the-less have never bothered to actually fix the issue.

According to trading teddybear, traders are losing money due to the bug and momentum seems to be building for a class action motion against TradingView and and also a bid to determine just how much money has been lost as a result of the bug.

Since TradingView admitted knowledge of the bug over a year ago, they could be liable for whatever losses have occurred through the use of their platform.

“However, until these recent videos, the problem has constantly been ignored by TradingView, screwing up an unimaginable number of traders in the process for amounts of money which are not even calculable. TradingView has been displaying an unbelievable amount of unprofessionalism in this story,” a source told CCN.

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Author: Tokoni Uti

Ripple Moves 40 Million XRP To Different Wallets; Crypto Watchers Speculate FUD to FOMO

Ripple Moves 40 Million XRP To Different Wallets; Crypto Watchers Speculate FUD to FOMO
  • Ripple made several transactions to different wallets
  • This generated different comments from the community

Ripple has transferred around 40 million in XRP to different wallets int he last few weeks. This is something that the community is talking about and wondering why these large transactions are taking place.

According to Whale Alert, a twitter account that tracks large blockchain transactions, there have been several noteworthy transfers between June 8 and June 9.

What Are These Large Transactions?

One of these transactions was from Ripple to another wallet in which the company transferred 20,000,000 XRP ($8,440,297 at the time of processing the transfer). The sender address was identified to be from Ripple: rffYK32pnicbmUvodKsLxTyQFJyEb23gaZ. Meanwhile, the receiver’s address was not identified but the address was rHJMEHv4eKhBCmjqDEJtFcvZTZC9q1K1s7.

Seconds after the transaction, Ripple sent again 20 million XRP to another wallet called XRP 11 wallet. This address is the following: rHjJwY4maqRyUxCnJ9bNNQ2Tva9fe9T8ud. This specific address was used to transfer the third largest digital currency to different exchanges, including Digifinex, HitBTC and also Huobi.

The crypto community is currently wondering whether Ripple is currently flooding the market or selling XRP to other parties interested in holding the virtual currency.

Currently, CoinMarketCap shows that Ripple is being traded around $0.398 and it has a market capitalization of $16.83 billion. In the last 24 hours, XRP is the digital currency that lost the largest value among the top 10, falling almost 4%.

[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: Carl T