The BetterHash Crypto Protocol Seeks to Pre-Empt Highly Centralized Stratum Mining

Colleagues, this is a follow-up to our recent post about alternative Bitcoin mining protocols. Well Bitcoin core developer Matt Corallo has officially launched BetterHash which offer a decentralized alternative to Stratum the most common BTC and much more centralized protocol used by AntPool and Bitmain. The goal is to give miners more control over block templates and help mitigate the risk of a government ordering a locally-operated mining pool to censor transactions. Moreover, BetterHash’s sub rosa plan appears to be to prevent Stratum in general, and Bitmain in particular, from achieving a 51% majority stake in BTC mining. So how well will BetterHash be accepted and potentially pre-empt Stratum-Bitmain’s control over BTC mining?  You make the call. Share a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Can a $2m Incentive Help Buglab Enhance Cryptocurrency Exchange Security?

Colleagues, the Coincheck, Bitgrail, Coinsecure and Coinrail cryptocurrency exchanges have all fallen victim to cybercrime thefts in 2018 alone. So what can be done to increase exchange security and bolster both crypto trader and investor confidence? Well, our friends at Buglab holding a hacking contest to uncover vulnerabilities in their platforms with a $2m BGL token prize. They are an Ethereum-based platform which helps exchanges around the globe resolve security weaknesses in digital solutions such as web apps, DAPPS, smart contracts and IoT. Major software and IT vendors such as Google, Apple and Microsoft commonly hold such security bake-offs to stress-test the integrity of their solutions. Crypto exchanges are often believed to be the weakest link in the emerging cryptocurrency ecosystem. The key question is which bugs can be identified combined with strong mitigation techniques? Share a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Is Bitcoin a “Buy” at $5,000? Mohamed El-Erian at Allianz Thinks So

Colleagues, despite today’s BTC gains it is a fair to say that when Mohamed El-Erian speaks people listen. Without doubt El-Erian is among the elite financial minds in the US, if not the world. The former PIMCO CEO, El-Erian believes that cryptocurrencies should be viewed more like commodities rather than sovereign bank currencies. What El-Erian did not say is as important as what he did say. He did not join the chorus of Bitcoin evangelists such as Jeet Singh and Tim Draper who predict than the crypto asset will reach stratospheric levels of $50K and $250k respectively. Bottom line: For long-term investors the Cryptocurrency Academy recommends that cryptocurrencies should comprise no more than 5% of your portfolio. Yet for some 20-something crypto addicts Bitcoin and Altcoins may in fact comprise a much higher percent of their assets. We stand by our previous claim that Blockchain technology-focused firms represent a far more tenable investment alternative. Post a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Facebook to Ease Restrictions on Crypto Ads - Is an ICO or Crypto Exchange in its Future?

Colleagues, there are two hot topics which the global cryptosphere is closely watching. First, is the company’s reversal of its January 2018 ban on crypto advertising on its social media platform. On June 26 Facebook issued an update to this policy changing course and will now allow such ads to be placed. Read the policy decision here. The key is proper scrutiny over the legitimacy and authenticity of ads Facebook chooses to allow. The bigger issue on the minds of many FB watchers is whether the firm will former enter the crypto market via the launch of its own ICO or acquisition of a tier 1 crypto exchange. While this second issue is still considered “speculation”, there is a growing belief that Facebook might acquire Coinbase. The Cryptocurrency Academy predicts with high confidence that an ICO or crypto exchange is surely in Facebook’s near-term future. Post a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

What Impact will the INS Wallet have on the INS Blockchain Platform?

Colleagues, Russia-based INS is developing a platform to enable direct interaction between brands and consumers. Reaching the next generation audience via data-driven mass personalization. The team consists of a large global collective of professionals with solid industry experience. Their wall now supports Ethereum and INS ERC-20 tokens, and has plans to secure Bitcoin. INS’ goal is to enable Blockchain to manage business between consumer and leading consumer brands such as Air Wick, Tiret, Viola, Clearasil, Gaviscon and others. The open source platform is designed for an emerging DAPP consumer brand ecosystem. Bottom line: Once the INS Platform moves to the mainnet in 2019 can it be expanded to other vertical markets or will it remain confined to the consumer product niche? Post a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Are Security Breaches Contributing to the Decline in Cryptocurrency Prices?

Colleagues, any security analyst knows that cyber criminals will target the weakest point in network or system. This principle is being validated over and over again by successful cyber-attacks on the cryptocurrency ecosystem. ICOs, mining farms, wallets, exchanges and crypto ATMs each have varying levels of vulnerability. The recent crypto heist of some $31.5m according to CCN from the South Korea-based Bithumb exchange is simply the latest example. The Korea Internet & Security Agency [KISA] along with the Ministry of Science and Technology (MIC) are investigating the world’s sixth largest cryptocurrency exchange. Bottom line: The Cryptocurrency Academy believes that the ongoing number of cyber-attacks against the global cryptocurrency ecosystem are “in part” a contributing factor to the decline in asset prices. Moreover, if BTC and Altcoins are to cross the chasm from early adopters to the mass markets these security flaws need to be greatly reduced in order to boost investor confidence. Share a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

What is the impact of Bitmain controlling 42%+ of the Bitcoin hashrate?

Colleagues, China-based Bitmain’s voracious appetite for Bitcoin mining is moving toward the critical 51% level. Comparable to controlling the majority of seats on a company’s Board of Directors or a similar percent ownership of a public firm’s stock, Bitmain could end up controlling the mining of Bitcoin worldwide. Enter protocol developer Matt Corallo and his “BetterHash” protocol proposal to decentralize Bitcoin mining.  The optimal CPUs are AMD Ryzen 7 1700X at 4.00GHz and Intel i7-7700K at 4.70GHz, while GPUs for BetterHash are NVIDIA GTX 1080 Ti and AMD RX Vega 64. Bottom line: Will the BetterHash protocol adoption prevent Bitmain from reaching the 51% threshold of Bitcoin mining? You make the call. Share a comment visit us today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)