- The 20th iteration of Bitcoin Core, the open source software powering the Bitcoin blockchain, was released Wednesday.
- Experimental software called “Asmap” was included to protect against a theoretical “Erebus” attack.
- An Erebus attack allows nation-states and/or large internet providers such as Amazon Web Services to spy, double-spend or censor bitcoin transactions.
- The patch would help thwart an attack but is not a conclusive fix.
Bitcoin Core released a new software update Wednesday, Bitcoin Core 0.20.0. Notably, the release includes experimental software to hedge against attacks from players the size of nation-states, which could effectively fracture the Bitcoin network.
Called “Asmap,” this new configuration protects the peer-to-peer architecture of bitcoin nodes by mapping connections to Tier 1 or larger Tier 2 Autonomous Systems (AS) – internet operators capable of connecting to multiple networks with defined routing plans such as Amazon Web Services or states – and then “limiting the connections made to any single [AS].”
In essence, the so-called “Erebus” attack allows an AS to censor large swaths of the Bitcoin network by limiting and then spoofing peer-to-peer (P2P) connections. Failure to address the flaw could lead to highly undesirable consequences for Bitcoin such as a major mining pool or exchange being cut off from the rest of the network.
An Erebus attack was first hypothesized by researchers at the National University of Singapore (NUS) – Muoi Tran, Inho Choi, Gi Jun Moon, Anh V. Vu and Min Suk Kang – who co-authored a 2019 paper detailing the attack.
If reproduced, please indicate the source: https://www.uucj.net/latest-bitcoin-core-code-release-protects-against-nation-state-attacks/
French, Belgian and Israeli investigators have brought down a scheme that defrauded €6 million ($6.64 million) from French and Belgian citizens, a Jan 29. press release from Europol reads. The fraudsters promised significant returns for the victims’ investment in what appears to have been a Ponzi scheme. The international network of fraudsters was allegedly masterminded by a French-Israeli citizen. Authorities arrested nine suspects connected with the scam in 2019. The investigation started in 2018 and was coordinated by Europol and Eurojust. The criminals reportedly set up a system promising large gains from investments in Bitcoin, diamonds and gold, and offered their “services” on undisclosed online platforms. The fraud displays the tell-tale signs of a Ponzi scheme. The organizers promised returns from 5 to 35 percent then pretended to manage users’ wallets and invited them to invest more money. Some of the victims were indeed paid interest to increase their confidence in the platform. Organizations were also targeted, with a “big French private company” and a local French authority reportedly falling victim to the scam. Fraudsters succeeded in collecting at least…Jan 31, 2020
Ethereum started an upside correction above the $130 resistance against the US Dollar, similar to bitcoin. However, ETH price is facing a few key hurdles near $150 and the 100 SMA (H4). ETH price is currently trading nicely above the $120 and $125 support levels against the US Dollar. The price is likely to move higher in the short term towards the $150 resistance. There is a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong selling interest near $150 and the 100 simple moving average (4-hours). Ethereum Price Forming Supports Earlier this month, Ethereum declined heavily below many supports near $120 and $100 against the US Dollar. ETH price even settled well below the $150 level and the 100 simple moving average (4-hours). It traded to a new 2020 low at $90 and recently started an upside correction. There was a recovered above the $100 and $110 levels. Later, there was a support base formed above $120 and the price climbed…Mar 22, 2020
Ethereum has been able to maintain its position above $200 despite facing some intense selling pressure earlier this week. The cryptocurrency is now attempting to generate some upwards momentum as it fast approaches a key resistance level. Traders do anticipate this level to be surmounted in the days ahead, as its technical outlook has been bolstered by its strong recovery from its recent lows of $190. This comes as traders on Bitfinex continue piling into long positions, pushing the notional value of ETH longs on the platform to reach fresh all-time highs. Ethereum Stabilizes Above $200 as Analysts Eye Further Upside At the time of writing, Ethereum is trading up marginally at its current price of $206. This marks a notable climb from recent lows of $200 that were set yesterday when sellers attempted to push the crypto back below this key support. Buyers were able to absorb this selling pressure and propelled it to highs of $210 before losing momentum. The crypto’s latest upswing marks an extension of the momentum which was first incurred following the crypto’s drop to…May 23, 2020
The IOTA Foundation has turned off the network after several Trinity wallet users had their funds drained. As per the announcement, most of the infected devices are running the Windows version of Trinity, and the attack is believed to be ongoing. IOTA Foundation has been criticized for its actions, claiming IOTA is a decentralized network and possessing the power to turn its network off at will, February 14, 2019. Panic for IOTA Users In a sudden announcement, the IOTA Foundation announced the Trinity attack and confirmed the coordinator has been paused. Law enforcement is working with the Foundation to find the root cause of the issue and get the network back on its feet at the earliest. Most affected users were running Windows while one used Macintosh. Mobile users have not been infected by the bug, and an initial investigation revealed there was no script used in the attack, implying it was likely manual. Value transactions of IOTA tokens have been halted, whereas data transactions with no monetary value are still enabled. Nevertheless, this is far from a good look…Feb 14, 2020
Bitcoin closed above $8,000 this Wednesday, wiping all its Coronavirus-induced losses from mid-March. The cryptocurrency’s move uphill came ahead of Jerome Powell’s press conference at 1430 ET today. The Federal Reserve chairman is likely to discuss strategies to tame the contracting economy, with investors expecting him to keep the interest rates lower. Bitcoin jumped above $8,000 for the first time in almost two months as investors braced for the Federal Reserve’s views on the health of the U.S. economy. The bitcoin-to-dollar exchanged surged 5.52 percent to top at $8,180 on BitMEX, resuming its uptrend a day after correcting modestly. The pair’s move uphill wiped all the losses incurred on Black Thursday, an event on March 12 that crashed prices by more than 50 percent. BTCUSD is trading above the pre-Black Thursday levels following its move above $8,000 | Source: TradingView, BitMEX The latest hope over the slowing spread of the novel coronavirus pandemic and a decision by some U.S. states to reopen the economy supported the prevailing bitcoin mood. Meanwhile, the upside sentiment also mirrored similar moves in global equities and…Apr 29, 2020
Meghan Markle and Prince Harry returned to Canada following the fulfillment of their final royal duties in the United Kingdom. Canada is closing its borders to fight the coronavirus outbreak. What does this mean for Meghan and Harry as they chart their new lives together outside the royal family? No doubt Meghan Markle and Prince Harry believed they were finally free. They could begin their plan to generate a small fortune using the royal family branding overseas. The final annoying royal engagements had been taken care of, and Meghan even managed to sneak an underhanded pop in at Kate Middleton and the rest of the royal family by way of a convenient “leak.” It was all going so well. Until the coronavirus finally caught up with them. Where does the coronavirus leave Meghan Markle and Prince Harry? We’ve seen a growing number of celebrities affected by this pandemic. We shouldn’t be surprised when the rich and famous have their plans halted just like the rest of us. Then again, most of us don’t have plans to generate billions of dollars…Mar 17, 2020
Bitcoin seems to have sparked retail buying interest in the market again after the recent ‘bullishness’. This is a movie that we have watched over and over but for some reason so many people in this market tend to think it could end differently this time. Just last year, we saw a 43% pump culminate in a major crash that followed soon after. The same is very likely to happen this time but this is not what the mainstream crypto media wants you to know. They want to make you believe that the market is ready to begin a new uptrend. They keep saying that BTC/USD has outperformed the stock market in just a few days and has strongly bounced back. It is true that it has printed a big pump in such a short time but what makes you think this could not happen to the opposite side? We saw it happen just recently but for some reason so many people tend to overlook such stark warning signs. The outlook of larger financial markets remains bleak. Italy has now…Mar 20, 2020
Russia’s Ministry of Economic Development has proposed a bill on “regulatory sandboxes” that seeks the legalization of blockchain and cryptocurrencies, according to local media agency Izvestia. Sandbox Participants Will Be Exempted From Certain Requirements The bill on “regulatory sandboxes” was submitted last week to the State Duma (Russia’s parliament). The document discusses eight industries that can benefit from deregulation when introducing new digital technologies. The list includes healthcare, transport, distance education, trade, finance, construction, manufacturing, and public services. Representatives of the “regulatory sandboxes” might be exempted from many requirements that are stipulated in a separate “satellite” bill. When it comes to blockchain and cryptocurrencies, Russia’s Ministry of Economic Development proposes a number of exceptions to the current laws “on Bank and Banking Activities” and “On the Central Bank.” Also, the Ministry suggests that participants of the sandboxes be exempt from a range of requirements aimed at financial institutions. If the bill is approved, the sandbox participants may also count on easing currency regulation and supervision. They will have the right not to follow the current rules on foreign exchange transactions…Mar 24, 2020
IOHK, the engineering company co-founded by Charles Hoskinson and Jeremy Wood, today has unveiled Ouroboros Hydra (Hydra), an off-chain protocol, which enables vastly increased scalability for the Cardano blockchain, whilst still providing low latency and minimal storage per node. The Hydra solution enables a variety of previously unfeasible everyday applications, including micropayments, voting, insurance contracts, and any app that requires low fees or instant confirmation. Hydra is the result of a five-year EU-funded collaborative research project, led by IOHK researchers and other partners from the company’s blockchain research lab at Edinburgh University. The research was funded by the EU’s ‘Privilege Project’ as part of its mission to unite European researchers in pursuit of new cryptographic protocols for blockchain and distributed ledger technologies. These technologies will be capable of supporting everything from online voting to insurance contracts. Layer-2 Solution Hydra is an essential part of IOHK’s goal to create a highly scalable proof-of-stake protocol for Cardano – IOHK’s decentralized public blockchain and cryptocurrency project. It is classified as a layer two blockchain scaling solution, which will sit on top of the Cardano Protocol and increase…Mar 25, 2020
QPocket, a mobile crypto wallet and DApp browser initially supporting QuarkChain, Tron, and Ethereum, announced today that is now supports bitcoin (BTC) transactions. Users can use QPocket to create, import, export BTC wallets, and initiate BTC-related transactions. As an HD multi-token wallet, QPocket can directly create a wallet that supports BTC, ETH, TRX and QKC ecosystems all at the same time. All it takes is to input the password and back up the mnemonics. The existing wallet can add the BTC sub wallet directly. QPocket BTC Wallet Features Segregated Witness Support – Segregated witness is an early expansion design of BTC, which can make bitcoin transaction packages faster and avoid network congestion. QPocket enables users the ability to turn on or off the segregation witness function as required. The default of the app is “on”. Support For BTC Subaddresses – In order to meet the needs of some users for privacy transactions, the BTC wallet supports the creation of multiple subaddresses which belong to the same primary address. The primary address and subaddresses can be used on-demand. Using subaddresses, a…Jan 13, 2020