The Ethereum Classic 51 percent attacker has reportedly returned $100,000 to cryptocurrency exchange Gate.io, a post on the official exchange’s blog reports on Jan. 12.

The company further noted that they tried contacting the attacker but didn’t get any reply until now, and that they do not know the reason why the funds have been returned. The exchange declared:

“If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.”

A white hat hacker is a hacker with a strong professional ethic who uses his hacking abilities for good and not for personal gain. The jargon file, a staple of hacker culture, further explains:

“The term white hat [stands] for an ally or friendly security specialist.”

On Jan. 9, Gate.io published their analysis of the 51 percent attack, finding that a total of 54,200 ETC in total (worth $271,500 at the time), had been transferred during the time of the alleged hack. Major crypto exchange Coinbase separately stared on Jan. 8 that the total amount of money involved in the deep chain reorganization included over $1.1 million worth of crypto.

Gate.io notes that the current hashrate of the Ethereum Classic network is low and that it is still possible to rent enough computing power for another 51 percent attack. Accordingly, the number of required confirmations for Ethereum Classic deposits has been raised to 4,000 on Gate.io to safeguard against more such attacks.

As Cointelegraph recently reported in a dedicated follow-up, Coinbase had identified a deep chain reorganization of the ETC blockchain that included a double spend on Saturday, Jan. 5. By the evening of Jan. 7, the company had taken stock of multiple double spends on the network.

Charlie Lee — the founder of major altcoin Litecoin (LTC) — recently declared that by definition a  cryptocurrency must be susceptible to 51 percent attacks.

*This post is credited to CoinTelegraph

Ever since Satoshi Nakamoto created Bitcoin [BTC], the very first cryptocurrency, blockchain technology has placed itself as a constant disruptive technology. This growing innovation has also grasped the attention of several key players from various industries such as IBM, Intel, and SAP.

Among various industries that are working within the blockchain, a majority of the community believes the games industry is going to lead the adoption of blockchain and cryptocurrencies. There is a high chance that the ‘Killer App’ will emerge from this sector even. This could be due to how over half a billion people around the world have been playing games for at least an hour a day. Closely linked to that is how the average group of players either fall in the Millennials or Gen-z categories – both are the main contributing groups to a nation’s economy.

iCandy Interactive, a game developer and digital entertainer, has stepped into the blockchain space with the launch of CryptantCrab. The company aims to disrupt the games industry with blockchain technology. The company is already a well-established player in the video games sector, with over 350 million gamers worldwide and over 500 million downloads.

World of CryptantCrab

CryptantCrab, a web-based game, takes inspiration from the popular mobile game – Crab War. This game runs on the Ethereum blockchain and managed to raise over $69000 within a timeframe of 10 days, during its pre-sale event. Having these results, the company affirms that the gamers on its next-gen blockchain game are going to be early blockchain adopters.

Collecting crabs is just one major aspect of CryptantCrab, with the other being able to customize them. Included in the major update for early January 2019 are players gaining immediate access to the Mutation and Xenograft features. Where mutating a part enables gamers to engage a risk/reward system during the alteration, Xenograft provides a more predictable outcome.

Players get to graft away a specific part from a crab and transplant it onto a prized fighter or critical member of a collection, giving them the ability to create complete sets or ferocious fighters.

Crabs that have their parts grafted will turn into a Fossil and cannot be sent into a battle again. To ensure a more diverse marketplace and further energize ecosystem activity, the Fossils still offer some level of value as they can also be traded among players. Seeing as Fossils and the more powerful and rare Relic Fossils can be equipped on crabs going into battle, it makes perfect sense for them to gain some intrinsic market value.

Active Trade and Battle

Engaging these customization features, along with the active marketplace trading, will raise the odds for the upcoming battle activities in CrpytantCrab. Beyond improving the overall stats and battle prowess of these crabs, their overall tradeable value also increases as they gain experience and level up.

These customizations and marketplace trading give players the chance to improve their crabs and ready them for the upcoming Battle and Pool Arena modes. The player-versus-player matches are pretty straightforward as that will see two crabs going against each other. As for the arena, it will be where players can sign-up their crabs to see which of their prized fighters can claw their way to the top of the pile. Those going into the Pool Arena get a shot at the big Ethereum prize-pool.

The fighting aspects and need to complete collections will keep the demand for crabs, Fossils, and Relic Fossils very high. This will result in creating an engaging platform for the trading ecosystem. This is how iCandy Interactive wants to make blockchain games more engaging and immersive. At the same time, these efforts will also raise the market value of crabs as demand and user engagement go up.

*This post is credited to AmbCrypto

The Cyberspace Administration of China (CAC) has introduced new regulations for blockchain firms that are operating in the country. The announcement was published on the regulator’s website on Thursday, Jan. 10.

According to the CAC, the guidelines, which will come into force on Feb. 15, were developed to contribute to the healthy development of the industry.

The document describes the firms that are subject to regulations as websites or mobile apps that provide information and technical support to the public using blockchain technologies. As soon as the regulations come into power, they will be obliged to register their names, domains and server addresses at the CAC within 20 days.

The guidelines require blockchain startups to allow authorities access to stored data, and to introduce registry procedures that would require ID card or mobile numbers from its users. Moreover, they will be obliged to oversee content and censor information that is prohibited under current Chinese law.

If a firm fails to comply with the regulations, it might face fines from 20,000 to 30,000 yuans ($2,900 and $4,400, respectively). In case of serial offences, the company might face a criminal investigation.

China first released draft guidelines in October for blockchain companies, which also contained recommendations that sought to eliminate anonymity in blockchain.

At the time, Asian newspaper The South China Morning Post wrote about an anonymous open letter that alleged sexual harassment at a top Chinese university that was published on the Ethereum (ETH) blockchain in April. The media outlet believes the publication of the letter could be a motivation behind the new regulations.

China is currently mainly piloting blockchain legislation in three regions — Beijing, Shanghai and Guangzhou. According to a December report by local finance publication Securities Daily, there are 11 blockchain-related policy projects concentrated in these areas.

In the meantime, the country has upheld a de facto ban on domestic crypto trading since 2017, which was completed in February 2018 when the government added international crypto exchanges and initial coin offering (ICO) websites to its Great Firewall. The decision was approved by the People’s Bank of China, the country’s central bank, and regulators.

*This post is credited to CoinTelegraph

Today, Enjin, a dedicated Ethereum development team, announced the release of EnjinX, an ad-free universal blockchain explorer designed to make Ethereum data more accessible to mainstream markets. By delivering a Google-like experience, the new blockchain search engine provides users with an intuitive way to search transactions, tokens, and addresses. It features a clean and intuitive interface, providing traders, gamers, and token holders a simple way to explore the Ethereum blockchain.

Featured on Product Hunt, EnjinX is the world’s fastest Ethereum explorer by up to 30 seconds. It delivers blocks in real-time and even displays live tickers for pending and internal transactions. To protect users from cluttered messaging and promotional fatigue, Enjin has pledged to keep EnjinX ad-free permanently. Rather than taking advantage of user attention, the team plans to generate revenue by offering robust developer APIs and blockchain integration tools that further boost adoption of the Ethereum Network.

EnjinX’s real-time token index delivers the latest data for the top 200 tokens, making it the best place to view current prices, volumes, and market caps for ERC-20 tokens. The innovative explorer also features human-friendly address labels that attach names to well-known blockchain addresses, making browsing, searching, and contextual research even easier.

Optimized for smartphones and tablets, the new “Google search of blockchain” offers a personalized experience that allows users to choose between different themes, night and day modes, and currencies. The platform also supports over 20 languages, so users from across the world can explore Ethereum in English, Chinese, Spanish, Korean, and even Pirate English.

Fully licensed to operate in China, EnjinX will provide native Chinese translations and has servers residing within China to improve performance. The service is fully compliant with all laws and regulations, so Chinese developers will be able to use EnjinX services directly in China, without fear of the tools they rely on being shut down by the government.

EnjinX will soon be upgraded include support next-generation ERC-1155 and legacy ERC-721 token standards, enabling users to browse blockchain assets ranging from gaming items and collectibles to digital art and even blockchain-based books. In the future, the team will also launch full support for Bitcoin, Litecoin, and Dogecoin, along with a powerful REST API that delivers live blockchain data to apps, websites, and smart devices.

Enjin specializes in developing tools to support Ethereum-based applications. In addition to EnjinX, they have launched a critically acclaimed cryptocurrency wallet and are building development tools that simplify blockchain integration into games, apps, websites, and smart devices. Ethereum-based ERC-1155 tokens are currently being integrated into 29 games using the Enjin Platform.

Unity Technologies has announced plans to list Enjin’s Blockchain Software Development Kit (SDK) on the front page of their Asset Store. As the world’s largest game development platform, Unity’s listing of the Blockchain SDK will enable 4.5 million Unity developers to mint ERC-1155 tokens and manage complex gameplay mechanics through transactions on the Ethereum blockchain.

*This post is credited to PRNewsWire

BlockCard™ by Ternio is a debit card that enables the card holder to spend the value of their cryptocurrency with the same ease as traditional credit cards. BlockCard™ can be used online or in physical store locations, anywhere in the world major credit cards are accepted.

Ternio has announced their first product for the general public called BlockCard™. BlockCard is a debit card that enables the card holder to spend the value of their cryptocurrency with the same ease as traditional credit cards. BlockCard can be used online or in physical store locations, anywhere in the world major credit cards are accepted.

“Ternio’s goal is to accelerate the use of blockchain and cryptocurrency into everyday life,” said Ian Kane, COO & Founder of Ternio. “BlockCard enables the card holder to gain real utility from their cryptocurrency and removes the notion that crypto is only a speculative asset.”

BlockCard currently supports four cryptocurrencies – Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM) and Ternio (TERN). Consumers who hold any of those cryptocurrencies can deposit them to their BlockCard account after signing up. Additional currencies will be added throughout the year. BlockCard™ users have the option to select between a virtual or physical card. Those who want a physical BlockCard™ can also select between a plastic or a metal version of the card.

Ternio’s BlockCard is one of only three approved crypto debit cards in the United States and is the only card to support multiple cryptocurrencies – giving card holders the option on how they fund their BlockCard. It is also the only card that enables real time spending of cryptocurrency by processing transactions via a crypto exchange. Ternio registered over 1,000 people during their soft launch.

“We want to give consumers the option on which digital asset they use to fund their BlockCard account,” said Daniel Gouldman, CEO and Founder of Ternio. “Card holders decide if they want to buy a bagel with their Bitcoin or a latte with their Stellar Lumens. Most importantly, these transactions occur on digital asset exchanges, which helps to propel the crypto community.”

Ternio BlockCard™:

Ternio is a leading blockchain company driving the adoption of blockchain and cryptocurrency into everyday life with its Lexicon framework and BlockCard™. The BlockCard™ is a physical debit card created by Ternio. With BlockCard™, card holders are empowered to spend their BTC, ETH, XLM, and TERN anywhere in the world major credit cards are accepted.

*This post is credited to CMS Critic

Tron TRX continues to position itself as the blockchain of choice for dApps developers. Lately, there has been a trend to migrate applications and products initially developed in the Ethereum blockchain to alternatives able to better support the high number of transactions required for them to run correctly.

Ethereum’s inability to withstand the high number of transactions under the current conditions was evidenced after the entire blockchain clogged due to the popularity of Crypto Kitties. Therefore, alternative blockchains such as EOS and Tron began to gain popularity after the launch of their mainnets.

After BitGuild, a decentralized gaming platform, announced its move from Ethereum to the Tron blockchain, a series of dApps embarked on a similar migration and a few hours ago EtherGoo joined the trend by announcing now the release of TronGoo. The developers promise to take advantage of the Tron blockchain to offer an “improved and updated game balance” and a “Brand new interface with mobile compatibility.”

TronGoo is a game that rewards its players with crypto after specific actions such as depositing Goo, promoting the game, stealing tokens from other players or breeding creatures that produce resources. Formerly the reward was in ETH, now of course players will be rewarded with TRX.

The TronArcade team expressed its enthusiasm, commenting that all the members are ready to offer the greatest collaboration to all those developers interested in building on Tron and wishing the TronGoo team the greatest success:

The TRON network and the TRON Arcade fund will always welcome developers with open arms. We’re confident that working together will allow our technology and communities to fuel the next wave of innovation and adoption. The EtherGoo and TRON Shrimp devs have produced hit DApps on multiple blockchains, and we hope their creations will bring joy to the TRON community

After the announcement, TRX experienced a bullish streak that led it to reach a value above 0.024 USD. Although TRX is currently undergoing a correction to the 0.0226 level, the indicators are still bullish at least in the short term.

*This post is credited to The Ethereum World News

Hong Kong-based digital asset exchange OKEx, and Singapore-headquartered crypto exchange Huobi Global will be supporting the upcoming ethereum (ETH) Constantinople hard fork upgrade.

As CryptoGlobe reported in December 2018, Ethereum’s development team said that Constantinople would go live between January 14 and 18. Consisting of five different ethereum improvement proposals (EIPs), the Constantinople update will reduce miner rewards from 3 ETH to 2 ETH, and make other fundamental changes to the network’s codebase – which are aimed at improving the overall efficiency of the Ethereum blockchain.

In a press release shared with Cointelegraph, OKEx’s management team noted that the exchange would be taking a snapshot of all its accounts at block height 7,080,000, the point at which Ethereum’s developers have decided to activate Constantinople. OKEx has asked all its customers to deposit their ETH tokens on the exchange’s trading platform as it will manage the technical requirements for Ethereum’s network upgrade.

Handling All Technical Requirements

Huobi will also support the Constantinople update as the cryptoasset exchange operator has advised its clients to deposit their ETH holdings onto its platform. Similar to OKEx, Huobi’s team will be managing all technical issues related to Ethereum’s hard fork.

As the world’s first smart contract-enabled decentralized application (dApp) development platform, Ethereum’s Constantinople upgrade is aimed at helping it gradually transition from the current proof-of-work (PoW)-based consensus system to a proof-of-stake (PoS)-based network management protocol.

Once the backwards-incompatible Constantinople upgrade has been activated, the Ethereum network’s transaction validating nodes will all have to update synchronically with the cryptocurrency platform’s blockchain. Notably, Ethereum’s core developers are also considering using a new type of proof-of-work (PoW) algorithm called “ProgPoW” which is designed to improve the efficiency of GPU-based mining on the network.

Replacing Ethereum’s Current PoW

As a standalone (independent) and system-wide update, programmatic PoW has been designed to prevent ether miners from using specialized mining hardware such as high-end ASICs. This should give all the network’s participants an equal opportunity to mine blocks . During the next bi-weekly meeting (on January 18) between Ethereum’s developers, the team might announce if/when they will be activating ProgPoW.

As CryptoGlobe reported on January 3, Malta-based crypto exchange Binance has announced it will be supporting Ethereum’s Constantinople update. Via an announcement on its official Binance website, the cryptocurrrency exchange stated it will be handling “all technical requirements” related to the hard fork . Although it likely won’t happen, there’s still a possibility that a group of network validators could choose not to support Constantinople. This would result in two separate blockchain networks and coins (after the fork).

No Visible Changes To End Users

If there’s a chain split and/or airdrops are conducted during the hard fork, Binance has requested projects to contact its support team in order to discuss how to manage the process. Presumably, the exchange company might look into whether it’ll list any new tokens created, and how it may safely conduct airdrops

As noted by Ethereum’s core developers, the Constantinople hard fork will not feature many visible changes for end users. It’s reportedly a “maintenance and optimization upgrade” aimed at changing Ethereum’s economic policy while also postponing its difficulty bomb, which will activate its “Ice Age.”

Ethereum’s native token ether (ETH) is up 0.71% in the past 24 hours and is currently trading at $157.52, according to CryptoCompare data. The cryptocurrency’s price has surged over 80% after recording a low of $82 in December 2018.

*This post is credited to CryptoGlobe

Someone’s enjoying the new year ride, and they’re doing it with their Ethereum. That’s the case of David Lau, a 27-year-old business developer based in Singapore who has just made part of a car payment with Ethereum tokens. The brand new Honda Vezel he has purchased is worth $84,000, and he intends paying half of that money with cryptocurrency.

$42,000 Worth of Ethereum to be Paid for Car

More details into the transaction show that David Lau had already made a $10,000 down payment for the car in Ether tokens. He intends making an additional $32,000 payment in the next three weeks. The remaining part of the money will possibly be paid in fiat from a loan that will be obtained from the bank.

David Lau who began investing in cryptocurrencies for the past two years revealed that as at 2018, he had a portfolio of $500. But as of today, his digital assets are currently worth about $50,000. The crypto enthusiast revealed that his interest had been kindled with virtual currencies when the hype around it was intense and one can assume this was late 2017.

MGH Cars, the First in Singapore to Accept Cryptocurrencies

The car dealership, on the other hand, is MHG Cars which began operation in December 2018. According to Lydia Ang, the company’s director, they are the only car dealership company accepting cryptocurrencies for payments in Singapore. She added that although this is a niche market, there will be significant changes in the future.

The director was also quick to note that accepting digital assets helped to cut down transaction fees from 3 per cent to as low as 1 per cent. She said this was lower compared to when transactions are carried out using the credit card. Besides, there were no regulations in the country to guide the use of such currencies, and as such, the company was unaffected by policies that may hold in certain jurisdictions.

Reputable Leaders Remark on the Development

While crypto enthusiasts attention has been kindled to this transaction, other reputable leaders in the area have made comments. Chia Hock Lai, the President of the Singapore Fintech Association and chairman of the Token Economy Association, remarked that he is surprised. He also called it a one of a kind transaction adding that the use of cryptocurrencies for payments in Singapore was uncommon.

This may be unique for the region, but it isn’t for places in the US, Venezuela, and other countries where virtual currencies are being accepted online and offline by companies. Birks group, a dealer of Jewelry including Rolex, began accepting Bitcoin in November last year.

*This post is credited to BTCNN

There has been a lot of exciting announcements around the cryptocurrency gaming industry in particular over the last year. Some of these big announcements have been from big players that have been getting involved in the crypto gaming industry.

 

Non Fungible Tokens

Non Fungible Tokens are collector’s items, unique playing cards, pokemon, crypto kitties and of these different things. In order for Non Fungible Tokens to exist, we need to have the right tokens that will allow the existence of these unique assets. ERC-721, ERC-1155 and ERC-998 token standards allowed for things like the owning of unique assets, lowering gas cost etc. which are very important when it comes to actually have a game that you can play that lets people easily swap or interact with these unique game items and that’s just on Ethereum. But Ethereum is not the only big blockchain working on the gaming industry.

As Non Fungible tokens are rising, we obviously need some exchange to trade these tokens. Thus, welcoming NFT or Non Fungible Token marketplaces. CryptoKitties is one of the big initial use cases of Non Fungible Tokens but we have seen the marketplaces for Non Fungible Tokens increasing. We have OpenSea and RareBits which came on earlier in the year allowing users to very easily sell their game assets directly outside of the game’s internal environment.

 

Sale of Non Fungible Tokens

Sales of Non Fungible tokens over the last year has been really crazy. We had a GodsUnchained card which was sold for $60,000, we have a crypto kitty which was sold for $170,000 and we have a virtual real estate selling on Decentraland for $200,000. All these events show that there is money interested in these virtual assets and in playing these virtual games there are a lot of people that are interested in having that experience. In terms of experiences, we are seeing more second layer applications being built by third-party developers to help expand these ecosystems.

 

User Experience

An important part of this developing ecosystem is, of course, the user experience. It’s going to be hard for us to ever attract people to come from their very easy user experience game to a blockchain game unless the experience is good. Metamask is quite awesome and has been an industry standard for quite a while but the still the user-friendliness is not totally there. We have been seeing more efforts to make the overall experience of interacting with blockchains and blockchain based Dapps more user-friendly. For example, Opera has now integrated an Ethereum wallet that will be a really important step. Now we need to see Firefox, Google Chrome, and others actually integrate wallets into the browser to make it easier to interact with blockchains on the internet. Opera was the first mover in terms of actually offering an integrated blockchain experience into their browser, others will certainly follow.

 

Ethereum’s scalability issue:

CryptoKitties interestingly proved a very important point about Ethereum that it has serious scalability issues.  The interesting thing to see is that other blockchains are moving in to fill in that space. We can see more and more people looking to develop their blockchain based games over on EOS. Tron is putting on the table $100 million for a development fund specifically focused on getting people to build games on TRON which is a serious commitment to the gaming industry and if TRON can get some giant game built on it, it could be massive.

Cocos

Cocos has just launched their testnet and it is one of the world’s biggest game engines. There are so many developers that are building their games on top of Cocos and to see them actually bringing in this blockchain implementation is very significant and will be a big boost to the overall cryptocurrency gaming space. This is a team that understands what it takes to build games, to bring games to life, what developers need and obviously how to integrate all of this with the blockchain.

The potential use case for cryptocurrency and gaming is very exciting. Imagine if we had a Fortnite or a World of Warcraft built using blockchain for people who are having to interact with blockchain all the time. This would be massive in terms of actually driving demand for cryptocurrencies even if just for fractional amounts of Gas it could be huge without a doubt.

*This post is credited to Coinnounce

Mining is an integral part of the cryptocurrency and blockchain technology narrative. However, the process of discovering, validating, and adding new blocks (mining) to the chain has the potential to do more than increasing the money supply of a particular cryptocurrency.

Moving Past Cryptocurrency Mining

Apart from being responsible for creating new tokens in a cryptocurrency blockchain that utilizes proof-of-work (PoW), mining also serves to protect the network. It is this function that is perhaps even most relevant for any examination of the positive elements of the mining process for distributed ledger technology (DLT) framework.

Essentially, miners act as gatekeepers to help keep the blockchain running smoothly. On the blockchain, all transactions are linked to one another through blocks. As another transaction, or block, is added, the chain lengthens.

To mine on the blockchain, users who lend their computing power (called miners) are presented with a puzzle to solve. Once the puzzle is solved and confirmed, the miner is rewarded with a payout (typically, some cryptocurrency or token) and a new block is added to the chain, in addition to transaction fees.

While blockchain mining has typically been associated with Bitcoin and other cryptocurrencies, this is just one minor example of how mining can be utilized within decentralized technology. Let’s take a closer look at blockchain mining and the benefits that it provides miners and society as a whole.

Data Democratization

When Satoshi Nakamoto created Bitcoin, and with it, the first ever successful implementation of the DLT framework, the stage seemed set for the emergence of a fully decentralized digital space. Data democratization or the return of control over user data to the users themselves is a cause that has attracted the attention of many in recent times.

In theory, public blockchains are decentralized, meaning that data ownership isn’t domiciled in any central server as with the mainstream internet. Every day we spend in our digital world means we are creating data. We may not think about it consciously, but the data we generate is utilized by many companies to improve their systems, as well as their profits.

Often, though, we have no idea what is being done with our data until scandals arise, and we don’t typically see the value that can be created using this data. Those in the blockchain world have fought for the democratization of data, but up to this point, there hasn’t been a platform created with this purpose in mind.

Blockchain Mining for Positive Social Impact

Mining can be used to drive positive social engineering in the digital space. Projects like Lambda have even begun examining such use cases that utilize the transaction validation process beyond the creation of new cryptocurrency tokens.

Using Lambda as a case study, it is possible for the activities of mining nodes to cause positive changes in the global business process. Recently, Ethereum World News reported that Lambda launched the first ever blockchain open-source proof-of-space-time (PoST) protocol on GitHub. Miners handle data, and as far as a blockchain is concerned, such data amounts to a massive volume.

Nearly every industry can significantly benefit from blockchain mining, especially when used as a solid foundation for the development of services and products. So far, we have seen blockchain mining in a decentralized environment lead to advancements in the health-care, education, and finance industries, to name a few.

When done correctly, mining on the blockchain can also lead to considerable profits for miners. For some, mining has even become a full-time career. Also, it’s relatively easy to begin mining. All a user requires to become a miner is a home computer and an internet connection.

Overall, mining offers a new way of earning money, participating in a real blockchain project where the user holds tokens, and a way to give back to the community in which they’re participating by verifying information, as well as helping to advance so many industries by mining data for insights.

Many view investing in the blockchain as solely a financial endeavor. However, with all of the benefits that miners bring to the cryptocurrency world, mining can provide a higher return than purely financial investments within decentralized technology. Are you ready to start taking advantage of the benefits of mining for blockchain?

*This post is credited to Ethereum World News