Tag: Ethereum (ETH)

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Sirin Labs Opts For Ethereum (ETH) Blockchain Over IOTA’s Tangle For The Blockchain Smartphone

Sirin Labs, the developer of the enormous $16,000 Solarin Android smartphone, is developing a blockchain phone and has chosen to construct its new device line named “Finney,” a blockchain smartphone series, to support a private blockchain from Ethereum (ETH), instead of IOTA’s Tangle distributed ledger technology, as initially stated in its white paper.

Sirin Labs to work with Ethereum (ETH) blockchain instead of IOTA’s Tangle for the blockchain smartphone

“We are not working with IOTA. We considered the option and decided to go our separate ways. At launch, we’re going to use Ethereum (ETH) blockchain. The Finney Phone will work through complete nodes that are hosted at Sirin Labs.” said Marketing Director of Sirin Labs, Nimrod May.

“Our plan since the release of our report has always been to migrate the SRN token and the Sirin Labs ecosystem to a next-generation chain of blocks,” Nimrod May added.

The Finney devices, including a blockchain smartphone and PC, will run on Sirin Labs’ open source OS, the Sirin OS. The Sirin OS will be engineered to handle native blockchain applications such as a cryptocurrency wallet, secure exchange gateway access, secure communications, and an ecosystem of peer-to-peer resource for sharing applications and payments, all of which supported by the SRN token.

The Finney devices will make up a stand-alone blockchain network

The goal of Finney devices is to facilitate people’s use of cryptocurrencies and associated services. In April, a branch of Foxconn Technology Group, the world’s premier electronics manufacturer, decided to help manufacture the Finney smartphone.

Foxconn will build the Finney blockchain smartphone series in-house, spearheading the original design and manufacture of the phone, while Sirin Labs will be leading the cold wallet hardware design and operating system development for Sirin.

The Finney smartphone, which will be available for retail sale for $1,000, will launch in November, while the Sirin Labs is planning to sell the device via eight new shops in locations with the most actively involved crypto communities.

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Status Announced Nimbus As The First Ethereum (ETH) Mobile Client That Supports ETH Sharding Protocol

Status, the developer of decentralized applications and mobile clients based on Ethereum (ETH) network, announced the development of Nimbus, a client focused on the Ethereum sharding protocol.

Written in the lightweight Nim programming language, Nimbus, still under development, proposes a solution for sharding implementation over the next two years. Specifically, Nimbus is focused on the application of the Ethereum (ETH) sharding protocol in mobile devices with restricted resources and tools with IoT (Internet of Things) properties.

The client’s design is modular, as the goal is to get the sharding node to work quickly and correctly in systems known as “embedded” and with smartphones of lower ranges since mobile devices with restricted resources are the most common according to research conducted by Status.

Sharding, a protocol based on a strategy to improve Ethereum (ETH) scalability, proposes to solve network congestion by segmenting it and dividing the validation of its transactions between different groups of nodes.

Nimbus is the first mobile client that supports Ethereum (ETH) sharding in the web3.js code repository

By implementing sharding in Ethereum (ETH) main blockchain, a beacon chain is formed that will function as a notary and after a certain number of blocks, will add the signature to the main blockchain. This way, the main chain houses all the information, but the shard nodes will not need to store the entire blockchain data.

At the moment, Nimbus is the first mobile client capable of supporting sharding in the web3.js code repository. A group of experts leads this development under a “permissive” license, but with patent protection, Apache 2.0 and MIT.

The release of the client that develops Status depends on the sharding protocol finally being included in Ethereum’s primary network. Therefore, the Nimbus roadmap calls for its development to culminate in the last quarter of 2019, with the launch of the customer.

Status is working on the development of this protocol while researching the implementation of the sharding protocol in the different processes that Ethereum’s network goes through, such as the implementation of Casper and Swarm, focusing on the features required to run shard nodes on mobile devices.

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MyEtherWallet Allows Ethereum (ETH) Purchases With Credit Cards

The developers of MyEtherWallet (MEW), one of Ethereum (ETH) most widely used wallets, reported on Wednesday, July 18th, that customers of the platform can now purchase Ethereum (ETH) by paying with their credit cards.

In accordance with a MyEtherWallet tweet, customers of this cryptocurrency wallet can now acquire Ethereum (ETH) via Visa or Mastercard credit cards in either US Dollars or Euros. That is achieved thanks to an agreement between MyEtherWallet and Simplex, a business devoted to non-fraudulent payment services for the cryptocurrencies market ecosystem using credit cards.

Credit card transactions have a minimum first purchase limit of $50 and a maximum limit of $10,000. Also, to respect the Simplex terms, the monthly trading volume for each card is $50,000, with a maximum daily trading volume of $20,000. These limits are being shared by the investment services firm Abra, which last week advertised the deployment of Simplex to their business services.

It is now possible to buy Ethereum (ETH) on MyEtherWallet using credit cards, once again

The recent reports made by MyEtherWallet and Abra announce the re-establishment of the cryptocurrencies purchases on credit, for the first time since February this year when several banks including JPMorgan, Lloyds Bank, Citi Group, and Bank of America ruled out the option for their customers to buy Bitcoin (BTC) using credit cards.

Back then, they argued that the volatility of the cryptocurrencies market represented a risk for investors. This corporative action removed the opportunity for these banks’ customers to buy cryptocurrencies on credit. Because of this move, the total number of Mastercard transactions being processed declined by 2% in the first quarter of 2018 as compared to the same period in 2017, reported Mastercard’s Chief Financial Officer Martina Hund-Mejean.

Currently, no other limitations on the MyEtherWallet service are known to exist, excluding the restrictions on Abra, where it is impossible to purchase Bitcoin (BTC) in 13 countries, as a result of alleged Simplex constraints.

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MyEtherWallet Hacked Via The Hola VPN Chrome Extension

MyEtherWallet, one of the most popular Ethereum (ETH) wallets, alerted its users that, in case they’ve used the Hola VPN service that works as a Chrome extension to access their portfolio, their funds may be compromised.

The MyEtherWallet (MEW) development team asked their users to transfer the funds stored in their wallet if they had used the Hola VPN service within the last 24 hours. That although their platform was not compromised, but they assume that the attackers still have access via the before-mentioned VPN. According to them, Chrome’s extension may have been the victim of malware for five hours in an attack aimed at logging wallet activity to steal funds.

The vulnerability exploited by the attackers occurred hours after the last update of Hola VPN, released yesterday, and according to MyEtherWallet, the attack was registered from a Russian IP address.

Some Reddit users complained their wallets were hacked even though they had not used Hola VPN

The developers also reminded their users that MEW “does not have any personal data, including passwords,” so their users can be sure that hackers will not get any information if they did not use the VPN. However, the extent of the attack is unknown at this time, and some Reddit users claim to have been hacked without using Hola VPN.

It is important to note that this is the second attack MyEtherWalletexperience in 2018, after the incident on May 24th, when the devs presumed that during the hours of the attack hackers had the opportunity to manipulate the Ethereum (ETH) wallets. According to official statements, MEW suffered the hijacking of some DNS servers that were redirected for hours to a phishing site.

In October 2017, it was the first time when MEW was the subject of a phishing operation in which more than $15 million in Ethereum (ETH) got stolen. However, the attacks MyEtherWallet has suffered in recent months have not been directly linked to vulnerabilities in the wallet code but to its associated services and phishing.

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Sacramento Kings NBA Team Is The First In The World To Mine Ethereum (ETH)

Well, we all know that cryptocurrency craze reached new levels, but who had expected it to reach NBA? However, the Sacramento Kings, the renowned NBA team, is the first sports team in the world to mine Ethereum (ETH). All that is made possible thanks to the new partnership Sacramento Kings signed with a well-known hosting and cryptocurrency mining firm MiningStore.com.

It might come as a surprise for many, but is not the first time this NBA team deals with cryptocurrency. Back in 2014, Sacramento Kings accepted Bitcoin (BTC), becoming the first sports team in the whole world to accept cryptocurrency as payments. Even more, they own the Golden 1 Center, a 100% solar-powered sports complex, located in Sacramento, California, and which also houses a tier-4 data center.

According to the team’s management, all this technical approach is meant to deliver the ultimate sports experience for the fans, by combining Bitcoin (BTC) payments, drones, AR/VR, and more.

Sacramento Kings NBA team is the first professional sports team in the world to mine Ethereum (ETH) for charity purposes

As if all that weren’t enough, Sacramento Kings thought to plunge way deep into the cryptocurrency world and is now the first sports team in the world to mine Ethereum (ETH). But, the most of the funds they’ll raise will be donated. Ryan Montoya, the Sacramento Kings’ CTO, is responsible for this project he and his co-workers entitled Mining For Good.

Mining For Good project will mine Ethereum (ETH) and the majority of the funds it’ll raise will go to the Build Black community project dedicated to helping local youths. On the other hand, the remaining amounts of Ethereum (ETH) will be held or invested by the Sacramento Kings NBA team.

“Vivek Ranadive [Kings Owner and Chairman] asked, ‘What can we do with cryptocurrency to give back to the community?’ It was obvious to us – Let’s start mining cryptocurrency. Let’s mine cryptocurrency and give the proceeds back to groups that could use a little extra help. And we are super fans of Ethereum (ETH),” explained Ryan Montoya how did Sacramento Kings NBA team become the first to mine Ethereum (ETH).

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