Author: Anna Galvez

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Crypto

Blockchain Technology Market To Exceed $10 Billion By 2024, But Security Risks Will Also Get Higher, According To McAfee

The blockchain is set to become one of the technologies of the future. By 2024, the blockchain market is expected to exceed $10 billion, according to the McAfee IT security firm. However, the same company warns of a possible increase in security risks, which could put the evolution of this phenomenon in jeopardy.

McAfee especially pointed out that the danger would come from the blockchain technology’s relationship with cryptocurrencies that are also booming at this moment, but that can hide identities.

Experts talk about four different attack vectors, from phishing or malware fraud to exploits and technology vulnerabilities.

McAfee IT security firm is optimistic the blockchain technology will reach $10 billion by 2024, but the price for this would be security risks

Cryptojacking or illegal cryptocurrency mining, for example, is already a headache. McAfee estimates that mining malware skyrocketed 629% in the first quarter of 2018, from 400,000 such malicious programs recorded in the last quarter of 2017.

Accordingly, now there are over 2.9 million cryptojacking malicious programs.

“Like other great technologies, blockchain technology can have a huge impact on solving real business problems, as long as security is not addressed urgently,” said Raj Samani, the chief security researcher at McAfee.

“Given the potential of blockchain to create value and the tremendous enthusiasm for implementing this technology, cybercriminals will look for every possible opportunity to attack any human and technical vulnerability in the blockchain ecosystem,” added Samani.

On the other hand, Samani thinks that all those involved in the blockchain technology, as well as those who adopt it and rely on it, should work together to minimize the security risks.

“Governments, security providers, and businesses must be aware of these threats and try to minimize the risks,” says Samani. “Without proper education, the adoption of blockchain technology by major industries and governments could end up costing billions of dollars and affecting millions of people.”

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Crypto Markets

Ethereum (ETH) Is Not Security, According To William Hinman, Director Of The SEC’s Corporate Finance Division

A high-ranking official at the U.S. Securities and Exchange Commission (SEC) stated that Ethereum (ETH), the indigenous cryptocurrency of the Ethereum blockchain, is not security according to the federal directives.

Ethereum (ETH) will not be ruled as a security

Addressing the Yahoo Finance All Markets: Crypto Summit on Thursday, William Hinman, the head of the SEC’s Corporate Finance Division, stated that, at least “as currently structured,” Ethereum (ETH) is not going to be ruled as a security by the SEC.

“When we think about how the ether is operating today, at least, we see a highly decentralized network, not the kind of centralized actor that characterizes the supply of securities,” stated William Hinman.

“In its current state, we don’t see value regulating it,” the Director of SEC’s Corporate Finance Division added.

The Ethereum (ETH) tokens sold during the initial ICO lost their potential to be designated as securities

William Hinman also pointed out that, in spite of the manner in which the Ethereum (ETH) cryptocurrency had originally been emitted, namely, employing a massive ICO-style bulk sell-off, the Ethereum blockchain had been adequately decentralized.

Accordingly, Ethereum Foundation is no longer holding any part, and that assets that had originally been sold as securities can get rid of such a potential denomination in the future.

Before that, SEC’s Chairman Jay Clayton had stated that cryptocurrencies like Bitcoin (BTC) are not securities, even though the agency had not yet finally designated any other cryptocurrency to be regarded as currency and not securities.

Although this declaration is not yet an official act to rule out the designation of Ethereum (ETH) as a security, it is good news for the ETH and the Ethereum blockchain, as well, because it clearly indicates that the SEC is thinking to exclude ETH from its list of cryptocurrencies that will be nominated as securities, sooner or later.

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Crypto

Traxia (TMT), The First Running Cardano (ADA) Smart Contracts Technology, Listed On KuKoin

KuKoin, the most popular and appreciated cryptocurrency exchange platform based in Hong Kong, listed Traxia (TMT) which is the first cryptocurrency to implement the new Cardano (ADA) smart contracts technology. TMT will trade on KuKoin against the Bitcoin (BTC) and Ethereum (ETH) trading pairs.

The new cryptocurrency rolled out on June 6th after ending a very successful ICO during which it raised over $15,1 million.

The announcement of this addition, significantly surged the TMT price against the USD, rocketing to $0.044, after growing up by about 25%, right after KuKoin listed the crypto coin. However, the craze after the announcement stopped slightly and the support reduced. At the moment of this writing, Traxia (TMT) is trading at $0.040, recording a growth of only 16% in the last 24 hours. Therefore, TMT dropped about 9% since the KuKoin announcement.

What is Traxia (TMT)?

Traxia (TMT) admits that it is a “decentralized global trade finance ecosystem” which targets the development of an open and decentralized marketplace for both enterprises and individuals for exchanging invoices.

As said above, TMT is a new entry in the cryptocurrencies market but promises to be strong crypto, eventually. At this moment, we don’t know many details regarding this one, except that it has a total supply of 1 billion TMT and its last 24 hours trading volumes slightly exceed $1,8 million.

Traxia (TMT) is the first cryptocurrency network to work on Cardano (ADA) smart contracts technology

The Traxia invoices trading platform will be operated by the new Cardano (ADA) smart contracts technology which will handle each operation and transaction occurring within the Traxia (TMT) marketplace.

However, at this moment, this trading platform doesn’t use crypto coins in its design but, as they recently announced, Traxia (TMT) marketplace will ultimately integrate with Cardano (ADA) network by the end of the year.

Even though is an eight days old coin, its future sounds bright, so it wouldn’t hurt to keep an eye on this one, especially since KuKoin listed Traxia (TMT).

Categories
Crypto

Cardano (ADA) Ouroboros May Be Better Than Both EOS (EOS) and TRON (TRX)

Cardano (ADA) is a smart contracts platform established by Charles Hoskinson, CEO of IOHK. It is on the eighth position among the largest cryptocurrencies regarding market capitalization, higher than TRON (TRX) but lower than EOS (EOS). Smart contracts platforms are now available, although not most of them can endorse what they assert. But Cardano (ADA) appears to be among the exceptions. This smart cryptocurrency trading platform is safer, more resilient, and also more scalable. Its management is even more equitable and accountable.

When blockchain technology was introduced into the smart contracts business, a significant challenge was the transparency and equity of these systems. The primary intent of cryptocurrencies is to suppress centralized control and permit a decentralized economic system. Sadly, that’s not exactly what some of the smart contract platforms like Ethereum (ETH) and EOS (EOS) are currently implementing.

This is why Cardano (ADA) Ouroboros may be better than both EOS (EOS) and TRON (TRX)

A finite group of miners is in control of the platform’s future, as the voting power is profoundly focused on a limited number of people. This might be a potential issue with the work test (WTP), mainly if sufficient measures are not in place to secure the majority’s best interests. A number of these ventures have sought to explore the participation test (PfP) but have so far been unsuccessful. Thankfully, Cardano (ADA) has fixed this issue with its Ouroboros algorithm.

Cardano (ADA) Ouroboros algorithms oversee how any and all nodes reach consensus and guarantee that rights to vote are equitably distributed to secure a decentralized and democratic economic system. This is another fact that distinguishes Cardano (ADA) from its rivals including EOS (EOS) and TRON (TRX), because Cardano (ADA) has a practical answer to the voting transparency issue, whereas the other platforms do not.

Cardano (ADA) is renowned for its belligerent movements both against Bitcoin (BTC) and the US dollar (USD) and is now trading at $0.167, while against BTC ADA has increased by over 6%.

Categories
Crypto Markets

eToro Will List Cryptocurrencies And Mainstream Stocks Together

In a new big announcement, eToro reported that the trading platform would list cryptocurrencies and mainstream stocks together, coming out with the first trading platform to list both cryptos and stocks at the same time. More important, with this new feature eToro implements, investors will be able to trade mainstream stocks and sustain their investments with their cryptocurrency wallets.

Price really matters, and we think ticket and management fees are exactly the kind of old world practices that put many people off investing. We are rethinking some of the outdated practices investors might be used to from other investment providers. It also means we’ll continue to expand the range of assets we make available to our 10 million users.

Yoni Assia, CEO of eToro, in an official statement

The move eToro has made is indeed a great one and helps traders from different fields to get along on a single platform.

eToro will list cryptocurrencies and mainstream stocks together, a fact which will increase the cryptocurrencies adoption

As mentioned above, the new eToro feature will list mainstream stocks and cryptocurrencies together, on the same unique platform, and this will make it possible for traders to sustain their investments in traditional assets with their cryptocurrencies wallets.

Also, eToro, from now on, will cover the stamp duty which is the fee the traders would usually have to pay when acquiring the UK shares.

Additionally, eToro has announced that it will be absorbing stamp duty on the purchase of UK shares, and will not charge ticket or management fees to any user buying shares through eToro. The platform isn’t completely feeless, however; according to the announcement, fees are included in the spread which is just 0.09% per side.

Finance Magnates

As for the cryptocurrencies adoption, the eToro new feature will help a lot, as the cryptocurrencies market might now attract the traditional investors. Of course, on the other hand, the cryptocurrencies traders might also be tempted to invest in mainstream stocks.

All these investments will now be straightforward to do as eToro will list cryptocurrencies and mainstreams stocks together.

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