Month: December 2018
The Bitcoin exchange Coinbase has moved a total of five billion US dollars in the crypto currencies Bitcoin, Ethereum and Litecoin in recent months to make its exchange more secure.
What we already suspected has now been confirmed: The Bitcoin whale that has moved so many BTCs in recent weeks is called Coinbase. According to a blog post from the stock exchange, they were the largest movement in crypto currencies ever made. Accordingly it is said:
“Coinbase recently moved five percent of all BTCs, eight percent of all ETHs and 25 percent of all LTCs in circulation (among many other assets) in what we believe to be the largest crypto-migration in existence.
The aim of all these movements was also to work on cold storage security for the crypto currencies:
“In our latest version, which was first introduced with Coinbase Custody and now takes over the entire cold storage at Coinbase, we start with a secure basis. This has a strictly controlled and tested key generation. We are also expanding it with a globally distributed system for storing keys and approving transactions.”
New system to work with all Bitcoin code currencies
As the company further states, the new Bitcoin code system as seen on: http://www.onlinebetrug.de/en/bitcoin-code-review makes it possible to secure crypto currencies of all kinds. In addition, the procedure had been planned for a long time. As Coinbase reports, the team had already agreed with the authorities, security teams and regulators before the great coin movement. It is said that this was the case:
“We started planning months before the actual movement and involved almost every Coinbase member in the process. We carried out risk assessments, developed monitoring plans and carried out test migrations until we were sure that the live migration would go smoothly.”
Speculative risk over Bitcoin code was known
The operators were apparently aware that the movement could lead to speculation. According to Coinbase, the fear was that there might be uncertainty in the Bitcoin code market. For security reasons, however, it was decided not to make the matter public: Is Bitcoin Code a Scam? Read This Review Before You Sign Up!
“One of the risks we identified early on was the fact that our migration could be confused with a vulnerability or a large merchant preparing to sell a significant amount of crypto currencies. In any case, we were concerned that market uncertainty could lead to price fluctuations. On the other hand, we were concerned that too much attention would allow potential attackers to plan and execute attacks during the migration.”
The fact that the movement of coins has now come to an end could hardly have come at a better time. The crypto market is currently on the upswing and the Bitcoin exchange rate has now exceeded the US$ 4,100 mark.
The IOTA Foundation announced on December 20 that it is currently working with Cybercrypt on a new lightweight trinary cryptographic hash function. The new hash function will be called Troika and will provide a cryptographic basis for the IOTA protocol. The team hopes that this will ultimately increase the security of the infrastructure for the Internet of Things.
Bitcoin news: David Sønstebø is euphoric
In addition the co-founder of the foundation, David Sønstebø said about the Bitcoin news in this interview with onlinebetrug: “The IOTA Foundation is honoured and pleased to be working with Cybercrypt. This enables us to achieve world-leading security for the IOTA protocol. We hope this competition will bring the cryptographic community together to solve security issues around the Internet of Things.”
The function is based on trinary functions. In the unexplored field of the Internet of Things, the team hopes that this will provide them with the best possible security. It is also hoped that this will lead to energy-efficient storage and transfer of data. Trojka should therefore bring a considerable security advantage for the infrastructure.
More information about the upcoming competition can be found here.
IOTA share price rises by ten percent according to Bitcoin news
Like the entire Bitcoin news ecosystem, the IOTA course has gained strength in recent days says onlinebetrug. Accordingly, the IOTA course has risen by over ten percent in the last 24 hours. Thus, the MIOTA token is currently close to 0.35 US dollars. The project is currently in twelfth place among the crypto currencies with the largest market capitalization, ahead of Monero (XMR) and behind Cardano (ADA).
IOTA wants to provide the infrastructure for the Internet of Things with its token and the corresponding tangle. In order to underpin this cryptographically, the IOTA Foundation is developing the secure hash function “Troika” together with Cybercrypt. The function is intended to improve the infrastructure of the tangles. In order to evaluate this, the Foundation has now announced that it is open to the public. In order to actually make it watertight, a prize pool of a total of 200,000 euros has been set up – developers are to put Troika through its paces.