Three startups are getting ready to launch one of the most ambitious and important cryptocurrency experiments since the creation of bitcoin itself. Called Lightning, the project aims to build a fast, scalable, and cryptographically secure payment network layered on top of the existing bitcoin network.
Bitcoin Atom, an ambitious Bitcoin fork due to come into existence within the next few days, plans to solve a substantial problem in the cryptocurrency world. The project will use atomic swaps to allow users to exchange tokens at absolutely minimal costs without any intermediaries or centralized exchanges. The project also plans to integrate Lightning Swaps (LS) to power extremely fast and cheap transactions.
Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.
As China’s crackdown on cryptocurrencies broadens to bitcoin miners, some of the industry’s biggest players are shifting operations overseas.
North Korea is hacking for a new purpose, alleges its Southern counterpart.
North Korean hackers known as Andariel breached a server at a company in South Korea to steal 70 Monero coins last summer, Bloomberg reported Tuesday, citing analysis from the South Korean government. The coins, supported by musicians such as Mariah Carey and Fall Out Boy, are valued at a total of $25,000 (£18,440 or AU$31,880).
When you're developing intercontinental ballistic missiles and nuclear weapons while under some of the harshest economic sanctions the world has seen, every bit—and every bitcoin—apparently helps.
North Korea has been implicated in both the WannaCry cryptographic worm and its bitcoin ransom demands as well as stealing about $81 million in traditional money through fraudulent funds transfers from a Bangladeshi bank. And now it appears that North Korean hackers are responsible for bringing down the Youbit cryptocurrency exchange in South Korea.
State-sanctioned North Korean hackers allegedly continue to target cryptocurrency companies and exchanges, particularly as a means of enriching the nation and countering the effects of imposed economic sanctions, according to newly released reports.
Bitcoin's price set a new record on Saturday as the virtual currency rose above $19,000 for the first time on the Bitstamp exchange. The gains came just hours after the currency crossed the $18,000 mark. Bitcoin's value has doubled over the last three weeks, and it's up more than 20-fold over the last year.
Let me freak you out for a second. You know what bitcoin is, right? I mean, no, but quickly, it’s a “cryptocurrency” that’s basically secret computer money. One bitcoin, which doesn’t actually have a real, physical form, is worth at this moment upwards of $16,000. But to get one, you either have to buy them from online exchanges or use specialized computing hardware to “mine” it. That last bit is where the freak-out comes in.
The soaring price of bitcoin—the virtual currency is now worth more than $250 billion—has gotten a lot of attention in recent weeks. But the real significance of bitcoin isn't just its rising value. It's the technological breakthrough that allowed the network to exist in the first place.