Ethereum founder, Vitalik Buterin hits our coming altcoin news again this time for expressing interest in Monero’s privacy features in order to incorporate them in his cryptocurrency.
Buterin is partial to the ZK-SNARKS technology which is the technology used for the Zcash privacy coin. However, his senses appear to be keener on the development of privacy protocols. This became very clear when the research paper under the name ‘’FloodXMR: Low-cost transaction flooding attack with Monero’s bulletproof protocol’’ was published.
The ethereum founder wants to research what they call a ‘’flooding attack with Monero’s bulletproof protocol.’’ This means that an attacker will flood the network with their own transactions and eliminate the ‘’ mixins’’ from the transaction inputs in order to trace about 50 percent of inputs with a cost less than $2,000. The lead Developer at Monero Riccardo ‘’Fluffypony’’ Spagni, was in New York for the crypto conference where he discussed the FloodXMR report.
There are people that pointed out that Monero is not the only crypto projects with many challenges to overcome. One Twitter uses replied to Buterin by saying:
“Ethereum has its obstacles, so does Monero. I’m sure some very bright minds will take care of it. Both are legit projects.”
The ethereum founder clarified:
“I hope Monero overcomes its obstacles by switching to privacy schemes that make the anonymity set for each transaction be the set of all Monero users! The above wasn’t even intended to be against Monero in any way. I’m following this debate between different privacy tech mainly with an eye to seeing what privacy schemes to help support as layer 2’s for Ethereum.”
During the weekend, the Ethereal Summit is also taking place in New York as reported in the best cryptocurrency news sites. This is a ConsenSys event that was dubbed as the ‘’SXSW of blockchain.’’ However, Buterin managed to weigh in on Monero’s privacy protocol despite the busy week. At the conference, there were discussions on topics such as Ethereum 2.0 and the proof-of-stake protocol. The CEO of Messari Ryan Selkis forecasted that a shift to the POS protocol is years away.
Buterin, on the other hand, has privacy features on his mind a long time ago and even told the Tesla CEO Elon Musk about what can be built on Ethereum.
Ethereum Network Development: The $30 Million Investment In Detail
"Over the last 12 months the Ethereum community — a global collection of developers, entrepreneurs, researchers, and passionate users — has made tremendous progress. Every week, new applications built on Ethereum launch to mainnet, scalability solutions come online, and ETH 2.0 moves closer to key milestones. Ethereum remains the de-facto platform for decentralized applications, and is used every day to secure billions of dollars in digital assets," the post noted.Speaking of, Plasma is the project that was first proposed by Vitalik Buterin and Joseph Poon in 2017 - as a scaling solution for the network employing autonomous smart contracts. The project is in the latest cryptocurrency news again as part of the Ethereum network development. It is described as a solution that would enable “the blockchain to be able to represent a significant amount of decentralized financial applications worldwide,“ according to the white paper The $30 million budget reserved for the ETH network and its development was first announced by the Ethereum Foudation at the ConsenSys' Ethereal Summit on May 10. The executive director Aya Miyaguchi was in the coming altcoin news then for stating that the foundation intends to bring academic involvement to Ethereum - which will attract the top-tier researchers and developers (and grants) to the academic teams and organizations. As we previously reported on our crypto news site, the "rerelease" of the community website for Ethereum Foundation was announced at the end of April. The Ethereum network development sits on top of this update, which purports to be a repository filled with community-created Ethereum content including documentation and tutorials for using Ethereum tools.
Cryptopia Hackers Are Moving The Funds In At Least Four Wallets
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi. “The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news. Two other addresses were also reported by many best cryptocurrency news sites - showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges. Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
Ethereum Price Analysis: ETH Is Weak But Could Start Upswing Soon
Ethereum Possession: 376 People Own 33% Of All ETH
“These preliminary findings are consistent with the literature on stock market prices and volatility,” the report on Ethereum possession concluded. “Academics have found that large anomalous fluctuations in traded volumes of particular stocks, notably the S&P 500, tend to impact volatility and not price levels.”
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