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May 18, 2021
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Bitcoin

News from the market KRYPTO episode. 19 |

In the latest market summary by Coinquista:

Bitcoin’s breakthrough of USD 10,000 means that the total amount of all unsent Bitcoins is currently in the profit area of ​​95%, which, from the historical perspective, may give rise to a bull market in Bitcoin. A similar situation as we recorded now in the periods at the beginning of 2013 and mid-2016. This means that a large proportion of BTC holders enjoy a comfortable profit but have chosen not to sell yet, which carries the likelihood that the price will continue to rise. However, we will see if traditional markets will not spoil our fun.

Investigative authorities have accessed the history of accounts with tweets that suggested that a BTC payment to the address provided would allow the sender to recover twice as much bitcoin. The main suspect is a user who made cardinal errors in not respecting security in the matter of obliterating his traces of theft. One of the major blunders was that he was using an exchange verified with his name. The analysis of the hack has become simpler, moreover, by analyzing the network of connections of selling stolen accounts on social networks. Among the reasons for the burglar’s motives, we can find tense relationships with the family, hacking a hacker path already in the early stages of life, and deriving satisfaction from extorting data via the Internet.

Coke One North America, a company affiliated with Coca-Cola, will strategically use the cryptocurrency protocol to increase transparency in supply chain transactions between consortia. The company, together with companies dealing with distributed ledger technology, as well as companies such as Unibright, among others, will create a Project enabling the improvement of transactions between both bottle suppliers and material suppliers. The “core” data will be stored on the Ethereum main network. Preliminary results of such a solution are expected to be presented in the fourth quarter of 2020, and we will then know if zero-knowledge evidence can also be applied to other standard business processes.

Ethereum Classic is undergoing further perturbations, the source of which can be found in the hacking carried out in the 51% attack model. The hacker, controlling over 51% of the network power, made changes to the block confirmation structure and registered only such types of outbound transactions, which led to an increase in his cryptocurrency ownership. The losses were estimated at approximately $ 200,000. It is not certain whether users’ trust in the Ethereum Classic chain will actually be regained.

Medalla’s test network launched on Ethereum on August 4. Medalla is a simulation that uses tokens that merely simulate staking rewards. Medalla testnet’s Launchpad was also created for validators to monitor network progress.

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