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The risk of double-spending has traditionally been a major obstacle to creating and fully using digital money. A flaw of this kind would be detrimental to the credibility of any system claiming to provide universal solutions to the financial needs of our era. Whoever created Bitcoin elegantly solved the difficult task, but a growing ecosystem … Read more
Software developer Awemany has published a potential alternative approach to instant transactions on the Bitcoin Cash (BCH) network called “delta blocks” or Storm. The idea utilizes weak proof-of-work (PoW) for instant confirmations on Bitcoin Cash. The new Storm concept has piqued the interest of many BCH proponents who are eager to solve the instant or … Read more
There’s never a dull day in crypto. It’s soap opera for geeks who are too busy to do soap opera. Whether you’re a BUIDLER or HODLER, The Daily delivers the latest drama from the cryptocurrency world in less time than it takes to solve the captcha and log in to your favorite exchange. Today’s edition … Read more
Bitcoin Cash proponents are celebrating the year anniversary of ‘Bitcoin Independence Day’ on August 1st and now into the weekend. Over the past week, quite a few bitcoiners have noticed there’s been a lot of developments, announcements, and commemorative parties within the BCH space. Also read: High Times Becomes the First IPO to Accept Cryptocurrencies Bitcoin … Read more
Canada’s Central Bank (BOC) released a working paper this month, Incentive Compatibility on the Blockchain. In it, BOC seems to argue the world’s most popular cryptocurrency, Bitcoin, is safe from a 51% attack, double spend scenario through the right incentive structure and proof of work (POW). Also read: Coinbase Flexes Muscle, Creates Political Action Committee … Read more
Over the past few weeks, the Bitcoin Cash (BCH) community has been discussing the subject of merchants accepting zero confirmation BCH transactions. Lots of BCH merchants have been accepting zero confirms lately as well, making the discussion topical again as it was a few years ago. Also read: Russian Railways Eyes Crypto for Tickets, Blockchain … Read more
If you thought that only proof of work coins were susceptible to double spending attacks, you haven’t met tether. The world’s ninth largest crypto by market cap and second largest by volume is meant to be a haven in a sea of uncertainty, but even it’s not immune to jiggery-pokery, as we’ll learn in today’s … Read more
In today’s Bitcoin in Brief – Zencash has lost $550,000 in two double-spend transactions following a 51% attack on the network. Developers have taken measures to increase the difficulty of future attacks. The event-ticketing platform Ticketfly is also trying to recover from a hijack. 26 million accounts have been reportedly compromised by a hacker who … Read more
It appears Bitcoin Gold (BTG) has been double spend attacked over and over again, totalling something in the neighborhood of $18 million at current prices. BTG forums seem to have been tracking the hack, going as far back as last week, monitoring the controversial coin’s hashrate, ultimately determining a 51% attack was under way. Also … Read more
Earlier this week the Chinese exchange Bitasia announced it started accepting zero-confirmation transactions for bitcoin cash (BCH) for instant trading. The trading platform is one of the first exchanges to enable zero-confirmation transactions so traders can use the platform as quickly as possible. Also read: Québec Premier: We’re Not Really Interested in Bitcoin Mining Chinese Exchange … Read more
