Network tech giant Cisco won a patent on Tuesday that could be applied to the bitcoin mining process.
Cisco submitted a patent application back in September 2015 for a “Crowd-sourced cloud computing” system, according to information from the U.S. Patent and Trademark Office (USPTO). The patent outlines how computer owners may be able to offer up their unused processing power for certain processes – including the energy-intensive mining process.
The filing describes how a user could partition their resources to create dedicated computing power for a cloud application. The cloud application would then be used for various purposes, Cisco notes, going on to explain:
“This model is suitable for, among other things, offering distributed processing and services that can be optimized for speed, volume, scale and resiliency, cost, and regulatory compliance–for example, distributed neighborhood theft protection systems, or cluster, city or municipality county relevant services… One such ca..
The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future.
The subject came up in an interview with CNBC, during which CEO Adena Friedman expressed openness to the idea.
“Certainly Nasdaq would consider becoming a crypto exchange over time,” Friedman remarked, adding:
“If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors… I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it.”
While Nasdaq is unlikely to launch such a service anytime soon, the company is no stranger to the tech itself. In addition to playing home to several blockchain-focused ETFs as well as public companies that are focused on the technology, Nasdaq has ..
Though fraud is undoubtedly an issue in the cryptocurrency ecosystem, U.S. Congressman Patrick McHenry believes lawmakers shouldn't rush to impose new regulations.
“It's my fear that Congress and other policymakers get wrapped up in the hype of bitcoin and feel like doing something – anything – is better than nothing,” he told CoinDesk in an interview on Tuesday, adding:
“And I get it, there's fraud, there are bad actors, there's irrational hysteria in the space, but a race to regulate is not the answer.”
The North Carolinian Congressman's comments echo those made by fellow Republican Rep. Tom Emmer last month at an event in Washington, D.C., but diverge from those offered by his colleagues on the House Capital Markets, Securities and Investment Subcommittee.
During a March hearing on initial coin offerings (ICOs) and cryptocurrencies, California Rep. Brad Sherman memorably dubbed cryptocurrencies a “crock,” while Michigan Rep. Bill Huizenga declared: “Thi..
EOS is reporting gains on a down day for the wider crypto markets and may soon rally to fresh all-time highs.
As of writing, the world's fifth largest cryptocurrency by market valuation is changing hands at $14.61 – up 7.6 percent in the last 24 hours, according to CoinMarketCap.
Meanwhile, most other major coins are flashing red. For instance, bitcoin is reporting 1.2 percent drop, bitcoin cash and IOTA are down 12 percent each and names like ethereum (ETH), Ripple (XRP), cardano and stellar are down at least 8 percent each.
The good news for EOS does not end here: it's also the biggest gainer among the top 10 cryptocurrencies by market cap on a week-on-week basis.
EOS' 62 percent rally is backed by a notable 556 percent rise in daily trading volumes, indicating that strong hands are at play and the rally is here to stay.
It's worth noting that EOS rallied sharply in the run-up to the April 15 eosDAC airdrop and, more importantly, remained well bid after the ..
As many as a dozen or more ethereum-based ERC-20 smart contracts have been found to contain bugs that let attackers create as many tokens as they want.
While the bugs – first identified on April 22 and April 24, respectively, in a pair of posts published on Medium – aren't tied to the ERC-20 standard itself, the issues prompted a number of exchanges to suspend ERC-20 tokens as they investigate. Those exchanges included OKEx, Poloniex, Changelly, Quoine and HitBTC.
Huobi.Pro separately announced on April 25 that it had suspended all coins, but has since limited that to ERC-20-based tokens. As of press time, Poloniex has moved to reinstate services for ERC-20 tokens.
In one example, an attacker transferred a whopping 57,896,044,618,658,100,000,000,000,000,000,000,000,000,000,000,000,000,000,000.792003956564819968 BeautyChain Tokens – as shown by transaction data on Etherscan – on April 22, a development that prompted the initial investigation into the issue.
If the future is to bring an endless variety of cryptocurrencies and tokens, the world will need a wallet that can hold them all.
Now, two of the most prominent startups in the sector are teaming up to entice developers to build just that. Announced Wednesday, decentralized internet startup Blockstack (through its venture capital fund, the Blockstack Signature Fund) and exchange platform ShapeShift are jointly offering a $50,000 bounty to the team or developer that makes the best open-source “universal” crypto wallet.
Contestants need to use Blockstack's authentication, storage and encryption technology combined with ShapeShift's API for token exchange. The goal is to build a wallet that supports almost any native token, even tokens that haven't been created yet, before the deadline on June 29.
Xan Ditkoff, head of growth and business development at Blockstack, explained:
“We're super early in this space. There are undoubtedly winners that have yet to even appe..
Allegations of electricity theft have led to the arrest of bitcoin miners in two Chinese cities, according to reports.
In the first instance, six individuals have been arrested in Tianjin, with the Xinhua news agency saying the suspects allegedly used 600 cryptocurrency miners to generate bitcoin with power taken from the local power grid. The police claimed they avoided paying the resulting bills by bypassing the electricity meter.
An investigation was launched, Xinhua says, after the local power company noticed spiking electricity consumption while detecting a significant difference from the measured current. That ultimately led to the seizure of the 600 bitcoin miners along with eight high-powered fans.
The case, coming at a time when China still plays a dominant role in bitcoin mining despite hints it might move to dampen the industry, marks the largest power theft in the country in recent years, the report states.
Meanwhile, according to another report today from the official..