With Saturday’s events: Vitalik Buterin has introduced a new, even better solution for scalability; a New currency on the exchange BitBay; people’s Bank of China believes that Blockchain technology is spreading so fast; the European Banking Authority will prohibit the sale on the crypto currency, than to regulate them; Another big attack using malicious software; a Slight recovery on the stock exchanges.
• Vitalik Buterin has introduced a new, even better solution for scalability:
Vitalik Buterin, founder of Ethereum, has presented a solution for scaling the Blockchain called Plasma Cash – more extensive version of an existing solution called Plasma – while broadcast live on YouTube during the Conference Ethereum Community in Paris on Friday 9.Mar.
Plasma Cash was developed Buterina and developers Dan Robinson and Carl Floerscha.
The Plasma itself is a solution to the scalable Blockchain chain, which Buterina and Creator of the Lightning Network Joseph Pune in August 2017. Plasma works by optimizing data main Blockchaina, reducing operating costs for reasonable contracts and decentralized applications (DApps). The problem with the scale of the Plasma, Buterina, is that each user needs to download and verify the authenticity of each unit of Plasma that has to prevent wykładniczemu scaling.
To explain the model Cash Plasma Buterin gives the example that if the user put a certain amount of ether on the exchange of cryptographic or third person any service, will be created coin plasma of the same amount of ether and a unique code which cannot merge or split.
Unlike Plasma, Plasma Cash originated only from users paying attention to the blocks that contain coins that you want to monitor:
The user needs just to check the availability and correctness of chain of Plasma only at a specific index of coins offers coins, on which it depends.
If we are talking about current, practical applications of Plasma, Buterin sees it as an opportunity to make it more resistant to attacks by hackers. Because each coin has a Plasma owner, the coins are full of spare parts or replacement: no one can take coins to another user without warning of the owner of the coins. In this case, the owner of the coins zapobiegałby potential broke the plans of the bad lawyer the output through the «system «claims» by showing your «data» evidence» about the history of coins.
Buterin noted that even if the hack occurs on the Plasma exchange for Cash, users will not lose their money:
Regardless of what happens in the stock market, users can run their money through the procedure of exit from the Plasma and to obtain their money.
Buterin ends his conversation a positive Outlook on the future use of Plasma Cash:
Every time the following exchange with a turnover of wielomiliardowym written completely incompetent programmer will zhakowana, no one will lose money.
Segregowany Witness (SegWit), the solution to scalability of Bitcoin, has recently been implemented on many exchanges, cryptography. Exchange Bitfinex announced the deployment of the Segway at day 20. February, and the exchange Coinbase announced the deployment of the Segway 23. Feb. The version of the client Bitcoin Core, which fully supports SegWit, was officially released on 26. Feb.
• New currency on the exchange BitBay:
During the event, which took place on the 9th. March in Opole on the subject of Blockchain technology and crypto currency, the new year Suszek, the owner of the biggest Polish stock exchange BitBay, informed the participants that the expected currency – Ripple and XIN – next week will be posted on the stock exchange:
Kryptowaluty Ripple and XIN, BitBay will appear next week.
commented on new year Suszek, not specifying, however, the exact day.
Up to this point, the currency of XIN can be purchased on the domestic exchange Infinity.Exchange. The exchange BitBay is constantly evolving, introducing in its range the projects.
BitBay has teamed up with KZCash (KZC), quickly develops the project of the Eurasian kryptowaluty, which offers solutions for small and medium businesses. KZC uses a proven algorithm X11, which allows to combine high-speed transaction processing and low cost fees. Trade kryptowalutą KZC there paired with Bitcoinem (BTC).
At the moment the largest Polish exchange offers kryptowaluty such as: Bitcoin, Bitcoin Money, Bitcoin, Gold, Ethereum, Litecoin, Dash, Lisk, Game Credits, Kzcash.
• People’s Bank of China believes that Blockchain technology is spreading so quickly:
The Governor of the people’s Bank of China (PBoC), Zhou Xiaochuan, said at a press conference that the authorities are not in a hurry to spend their digital currency, and as before do not recognize Bitcoin for legal payment method, according to China Daily, on the 9th day. Mar.
Zhou expressed the position of the PBoC:
We currently do not accept Bitcoin and other digital currencies over the tool, such as paper money, coins and credit cards to pay for retail. The banking system does not accept.
In connection with a press conference at the annual National people’s Congress, Zhou said PBoC must prevent the significant and irreversible damage to the national economy. At the same time, Zhou suggested that digital currency will ultimately reduce cash turnover. Local news channel China Daily quoted him, saying that the development of digital currency is technologically inevitable.»
While the PBoC has been actively monitoring the development of Blockchain technology and distributed books, Zhou added that some applications of this technology must be tested to ensure that they do not spread very quickly:
If the Blockchain technology spread very quickly, it can have a significant negative impact on consumers. It can also have unintended consequences for financial stability and the transmission of monetary policy.
In February 2018. State institution Bank of China has filed a patent for a solution to scale the Blockchain.
Beijing still takes a hard stance against on decentralized crypto currency like Bitcoin, with the prohibition of pre-orders money (ICO) from September 2017. and the continuation of operations against other remnants of private trade. Last month, China added exchange kryptowalutowe offshore website ICO «Great Firewall».
While landscape, legal, surrounding kryptowaluty in China was unpredictable, companies still insist on the status quo and maintain communication with the cryptographic industry in the country and abroad.
• European Banking Authority will prohibit the sale on the crypto currency, than to regulate them:
Andrea Enria, Chairman European Banking authority (EBA), said that may be more efficient to ban banks and other financial institutions have sales on crypto currency than direct settlement crypto, reports the Financial Times (FT).
Notes Enrii followed the recent movement towards regulation on crypto currencies in Europe. 8. Mar. The European Commission published an «action Plan», aimed at developing ogólnounijnych regulatory framework for fintech, including the Blockchain. Last week the Governor of the Bank of England, commented that crypto should be regulated and not prohibited directly.
During Friday’s speech in Copenhagen Enria remembered that he was not convinced that the lack of institutions supporting kryptowaluty suggests that the same kryptowaluty should be subject to regulation. He added that EVA came up with the idea of limiting the contacts of companies regulated by kryptografią in 2014.
Enria supports suspending the full force of regulatory measures from the company to fintech if they perform the same functions of banks, providing credit, debit and liquidity.
Excessive expansion of regulatory […] [for business fintech], likely to be a decision nieoptymalnym. Ryzykowałoby is the excessive limitation of financial innovation, because the workload related to compliance with legislation imposed on the banks are not constant for small innovative companies starting their activity.
Enria he added, however, that European regulators should not allow banks de facto offering connections, accepting deposits and providing loans without strict oversight, regulation. He also noted that the regulator fintech should be implemented throughout the European Union with the aim of maintaining the competitiveness of EU companies from the US and China.
In mid-February 2018. European control authorities, consisting of EBA, the European Supervisory authority exchange Commission and Securities (ESMA) and the European Bureau for Supervision of Insurance and Employees Pension insurance (EIOPA), issued a warning that kryptowaluty are risky assets that investors need to be protected.
• Another big attack using malicious software:
Windows Defender, the antivirus from Microsoft has blocked the attack based on more than 400 000 attempts for 12 hours, to install a Trojan that can infect users using mine for cryptocurrencies, reports the Microsoft blog.
Windows Defender studies have shown that shortly before noon on the day 6. Mar, Windows Defender, the antivirus started to detect these Trojans, which are new variants of a program called Dofoil (or Smoke Loader) that try to inject malicious software kryptowalutowe through the «extended cross» – a technique the injection process, the support mechanism and prevention methods.
The majority or 73% of these cases were from Russia, 18% from Turkey, 4% from Ukraine.
Dofoil, which Microsoft describes as «the last family of malware that uses miners in the attacks» used the search market clouds cryptographic NiceHash, which supports many on crypto currency. Microsoft notes that the samples that they tested, wydobywało coins Electroneum.
Recently, the encryption of this type became more widespread, and more than 55 percent of companies worldwide suffered attacks cryptography from January 2018.
• A slight recovery on the stock exchanges:
Today the markets on crypto currency show a slight growth, and nearly 100 in crypto currency, but one that is listed on CoinMarketCap different green.
Bitcoin has reached more than 11.500 $ 5. March, then fell below $ 9,000 yesterday, 9 March. Currently trading at about 9.500 dollars, which means an increase of about 5 percent in 24 hours. Of the ten largest coins, Bitcoin Cash reaches the highest momentum in the last 24 hours, that is about 10%. Of the same statement of Ripples marked the smallest increase, slightly more than 1% in 24 hours, and its cost is about 0.84 USD.
The total market capitalization of all bitcoin is around 389 billion dollars, an increase of 24.1 billion dollars over last night.
Although the markets say a slight recovery, the total fall since the beginning of the year was appointed for the sale in the amount of $ 400 million failure of the former stock exchange kryptowalutowej Mt. Gox. The recent decline this week can be attributed to global news regulation, including the American Commission on Securities and exchange Commission (SEC) that all platforms for the exchange of kryptowalutowej must register with the SEC.
source: cointelegraph.com, coinmarketcap.com.