Weekly Overview: Crypto News

05-January- 2020

Ethereum Block Time Reduced By 25%

Source : Unsplash.com

The average block time on the Ethereum blockchain reduced by almost a quarter after the mining difficulty was eliminated.

Data stated on Ethereum block explorer Etherscan demonstrates that from Jan. 1 to Jan. 4, the daily average block time on the blockchain reduced from 17.16 seconds to 12.96. This translates to a 24.48% shorter block time.

06-January- 2020

Bill To Study The Benefits Of Implementing Blockchain In The Election System

Source : Unsplash.com

The United States Virginia State’s legislature is looking into studying Blockchain to improve the election and voting systems. The bill to look into the study of blockchain was prefiled on the 27th of December, 2019 and was up for offering on the 8th of January, 2020, the House of Delegates and the Senate concurred that the Department of Elections is requested to study the use of blockchain technology to protect voter records and election results.

The department will also have to determine whether the costs and benefits of using blockchain technology outweigh those of traditional registration and election security measures. The department is also expected to make recommendations on how to implement the technology.

07- January- 2020

Binance Charitable Foundation’s Donations to Australian Bushfires

Source : Unsplash.com

In a January 7th blog post, Binance Charitable Foundation announced the launch of a new charity project aimed at addressing the aftermath of the Australian Bushfires.

The Binance Charity Foundation (BCF) is donating $1 million worth of Binance’s native currency — BNB tokens to the Australia Bushfire Donations project.

Since the Australia Bushfire Donations is a blockchain-based initiative, it ostensibly ensures that all BNB donations and distribution will be open to the public for verification. BCF has stated that it intends to reach out to multiple local organizations that are working towards the cause, in order to pass on donations received.


Directors Of An Alleged Pyramid Scheme Stand Trial

Source: Observer.ug

Two directors of an alleged pyramid scheme– Dunamis Coins, appeared before a court in Uganda on Monday the 6th of January, 2020 to face 65 counts of obtaining money under false pretences.

The Observer reported on 8th January, 2020, stated that the prosecutors had logged over 4,000 complaints against Dunamiscoins Resources Ltd., a suspected fraud that ran its course between Feb. 2018 and Dec. 2019, before collapsing. Inquiries are reportedly still ongoing.

The suspects reportedly plead not guilty and both directors have now been remanded in Luzira prison until the 22nd of January, 2020.


Bitcoin’s Bull Bias Intact Despite 6% Pullback

Source : Unsplash.com

Bitcoin has pulled back from multi-week highs, but is still soaring in bullish territory above key support near the $7,600 mark.

The number one cryptocurrency is currently trading at $7,910 — down 6.5 percent from the seven-week high of $8,463, based on CoinDesk’s Bitcoin Price Index (BPI).

The pullback commenced during the U.S. trading hours on Wednesday with gold and other safe havens trailing ground on easing of geopolitical tensions.

10- January-2020

Canada’s DMG Blockchain Installs 1,000 New Bitcoin Mining Rigs

Source : Unsplash.com

As Per a Press Release on the 6th of January, 2020, the tech company has bought 1,000 new miners from a Chinese mining giant, that have been installed in Christina Lake mining-as-a-service facility in British Columbia, for one of its US clients.

11- January-2020

North Korean Hackers Modify Crypto-Stealing Malware

Source : Unsplash.com

Lazarus Hacker group, of North Korea has doubled down its efforts to affect both Mac and Windows users’ computers. The group had been using a modified open-source cryptocurrency trading interface called QtBitcoinTrader to deliver and execute malicious code in what has been called “Operation AppleJeus,” as Kasperskyreportedin late August 2018. Now, the firm reports that Lazarus has started making changes to the malware.


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