Tag: Research

WISeKey to Launch Interconnected Blockchain Centers in Buenos Aires and Geneva

WISeKey to Launch Interconnected Blockchain Centers in Buenos Aires and Geneva

BLOCKCHAIN, BTC MANAGER
According to a press release published on January 19, 2019, WISeKey International Holding Ltd. has entered into an agreement with Blockchain Research Institute (BRI) to establish interconnected “Blockchain Centers of Excellence” around the world. Geneva Annual Blockchain Congress Per the newly inked agreement, WISeKey International will launch two new blockchain research centers in Buenos Aires, Argentina, and Geneva, Switzerland. It’s worth highlighting that WISeKey International is already in the process of establishing blockchain centers in countries like India, Rwanda, and Mauritius. The press release states that the purpose of the partnership is to foster rapid development of the respective local blockchain ecosystems. This could be achieved by ideating and testing blockchain-based
Bitcoin’s Proof-of-Work Algorithm Needs Replacing, Argues BIS Study

Bitcoin’s Proof-of-Work Algorithm Needs Replacing, Argues BIS Study

BITCOIN, Coin Desk
The proof-of-work (PoW) algorithm used by bitcoin and some other cryptocurrencies is not viable in the long-term and needs to be replaced, argues a new study from the Bank of International Settlements (BIS). BIS, considered to be the central bank of central banks, published a research report on Monday, saying that PoW – which uses a network of powerful computers to secure the network – is “extremely expensive” and the only solution is to “depart” from using the algorithm. Author of the report, Raphael Auer, a principal economist for the monetary and economic department at the BIS says that there are two fundamental economic limitations of the algorithm. First, bitcoin is vulnerable to double-spending or 51 percent attacks, hence it requires “extremely expensive” protection based on PoW. Se

ICOs Raised $160 Million in First Half of January, Report Says

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Initial coin offerings (ICOs) completed in the first half of January have raised around $160 million. The figure was provided in a report by ICO rating service ICObench shared with Cointelegraph on Jan. 18.ICOs completed by Jan. 15 have managed to raise about 33 percent of the combined amount raised in the previous month of December. Half of that sum was secured by just one project, the report notes.According to ICObench, the number of fundraisers that are set to take place in January is more than 150, a figure similar to the past seven months, excluding December.In January, the combined hard cap — the maximum amount of money that a project can secure from investors during an ICO — amounts to more than $4 billion. As per the report, three fundraisers out of the five largest this month have
Academics and Pantera Capital’s “Better Bitcoin” Is still Slower than Visa

Academics and Pantera Capital’s “Better Bitcoin” Is still Slower than Visa

BITCOIN, BTC MANAGER, ETHEREUM
A non-profit group comprised of MIT and bay area academics, as well as hedge fund Pantera Capital was formed to develop a coin that can offer faster speeds of processing transactions than Bitcoin.   How to Make Unit-e More than a “Nice Idea” Teachers from Massachusetts Institute of Technology, Stanford University, and Berkeley’s University in California along with five other colleges have teamed up with hedge fund Pantera Capital to develop a cryptocurrency that could overtake the pioneer cryptocurrency in terms of transactions speeds, as reported by Bloomberg. The group hopes to succeed where Bitcoin seems to have failed by introducing a viable scalable alternative without compromising the notion of decentralization. To achieve this goal, the group formed a non-profit foundation with the
This Malware Has a Worrying Trick to Mine Monero on Cloud Servers

This Malware Has a Worrying Trick to Mine Monero on Cloud Servers

Coin Desk, MONERO
A recently observed form of malware uses a concerning new trick to avoid detection and mine cryptocurrency on cloud servers. Two researchers, Xingyu Jin and Claud Xiao, from cybersecurity firm Palo Alto Networks, published a report on Thursday, saying that a nasty bit of software from bad actors dubbed the Rocke group is targeting public cloud infrastructure. Once downloaded, it takes administrative control to first uninstall cloud security products and then inject code that mines the monero cryptocurrency. The researchers found that the Rocke malware injected code to uninstall five different cloud security products from infected Linux servers – including offerings from top Chinese cloud providers, Alibaba and Tencent. Adding insult to injury, the malware follows the uninstall steps set ou

Adoption of Blockchain to Secure IoT Doubled in 2018, Says Gemalto

Coin Desk
The use of blockchain technology to help secure internet of things data, services and devices doubled last year, according to a recent survey by digital security firm Gemalto. In a report published Tuesday, the firm said blockchain adoption in the IoT sector grew from 9 percent to 19 percent in 2018, even though the industry is still awaiting regulation around the tech. Gemalto surveyed 950 tech and business professionals globally for the study, also finding that 23 percent of respondents believe that blockchain tech would be an “ideal” solution to use for securing IoT devices. Further, 91 percent of companies that do not currently use the technology are likely to consider it in the future. Jason Hart, CTO of data protection at Gemalto, stressed the need for regulatory clarity in a stateme
Public Gets Chance to Earn Block Rewards by Donating Computing Power to Scientific Research

Public Gets Chance to Earn Block Rewards by Donating Computing Power to Scientific Research

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
A startup has unveiled bold plans to tackle the excessive levels of energy consumption seen in cryptocurrency mining, all while giving everyday computer users more of a chance to receive block rewards.Resistance argues that proof-of-work mining “has been hijacked by huge mining farms using tons of energy to take control of the market” — isolating normal consumers who cannot afford to get involved with Bitcoin and other cryptocurrencies.The company also says the levels of electricity being used is “wasted on mathematical equations” rather than making a positive impact on humanity. As a result, Resistance is seeking to address exorbitant energy consumption and the power imbalance within the mining community by offering a “radical concept” known as proof-of-research.Known as PoR for short, pr

Blockchain Research Now Granted Tax Credit in South Korea

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
South Korea’s government has added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation, English-language local media TheNews.Asia reports on Jan. 8.The local Ministry of Strategy and Finance announced the proposed changes to the enforcement decree of last year’s tax law, which will be enforced in February. The proposed amendments also include among the eligible fields wearable robots and fine dust reduction technology.According to the aforementioned article, a result of this amendment will be that 30 to 40 percent of the research and development expenses of small enterprises and 20 to 30 of large and medium-sized enterprises will be tax deductible.Currently, the research and development tax deduction rate for large corporations reportedl
St. Louis Federal Reserve Report: Increased Supply of Altcoins Will Decrease BTC’s Value

St. Louis Federal Reserve Report: Increased Supply of Altcoins Will Decrease BTC’s Value

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
The creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies, including Bitcoin (BTC). This conclusion was found by research conducted by the Federal Reserve Bank of St. Louis and published on Jan. 11.The report cites two perspectives: Bitcoin bulls’ belief that the capped supply and increased demand will increase BTC’s price, and the bears’ belief that its price will fall to zero. The researchers state:“We think the future price path is more likely to remain bounded between these two extremes.”According to the research, the United States dollar price of BTC will also depend on its exchange rate relative to altcoins. The report explains that the bulls expect Bitcoin to appreciate relative to altcoins, or to keep its market capital relative t