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The Ethereum Classic (ETC) blockchain has been hit with a second 51% attack in the space of a week. The last one saw the malicious miner double-spend over 800,000 ETC.
Coinbase Wallet has announced support for the .crypto blockchain domains via a partnership with Unstoppable domains, a decentralized domain name registrar that creates the “uncensorable” .crypto domains.
The billion-dollar business intelligence software firm MicroStrategy has, during its earnings call, revealed it plans to invest up to $250 million in alternative assets, with bitcoin being an option.
Sponsored: Binance and the Swipe team have committed to a total of 100,000 SXP and 50,000 USDT in prizes to be won in a trading competition on the cryptocurrency exchange.
Top stories in the Crypto Roundup today:
- Ethereum Classic Suffers Second 51% Attack In a Week
- Coinbase Wallet Adds Support For ‘Uncensorable’ Crypto Domains
- Billion-dollar software firm MicroStrategy Eyes Investing in Bitcoin
- Sponsored: Swipe (SXP) Trading Competition - $250,000 in Rewards to be Won on Binance!
At the time of writing, bitcoin (BTC) is trading at $11,667.82 (3.32%) with a daily Top Tier volume of $4.87 bn. As for ether (ETH), it is trading at $396.25 (1.49%) with a daily Top Tier volume of $2.45 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 4,508.14 (-0.73%).
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Ethereum Classic Suffers Second 51% Attack In a Week
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The Ethereum Classic (ETC) blockchain has been hit with a second 51% attack in the space of a week. The attack was first reported by Bitfly, the parent company of the Ethermine mining pool, and later confirmed by crypto exchange Binance.
The malicious miner(s) behind the attack reorganized the blockchain in more than 4,000 blocks, at block height 10,935,622. The majority of ETC miners are still mining the shorter version of the network, as the reorganized chain is now the longest one.
Before Bitly reported on the 51% attack, the developers behind Ethereum Classic said in a tweet that exchanges and mining pools were advised to “significantly raise confirmation times on all deposits and incoming transactions,” in light of the “recent network attacks.”
A chain reorganization occurs when an entity gains more hashing power than the rest of the network – 51% of the total – and uses it to rewrite the chain’s history and double-spend the blockchain’s cryptocurrency, in this case ETC.
Ethereum co-founder Vitalik Buterin responded to the attack suggesting that ETC could move to a Proof-of-Stake (PoS) consensus algorithm from its current Proof-of-Work (PoW) one. He wrote:
“ETC should just switch to proof of stake. Even given its risk-averse culture, at this point making the jump seems lower-risk than not making it.”
This is the second 51% attack Ethereum Classic has suffered in a week, with the last one occurring between July 29 and August 1 and seeing the attacker reorganize the blockchain to double-spend 807,260 ETC, worth over $5.6 million.
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Coinbase Wallet Adds Support For ‘Uncensorable’ Crypto Domains
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Coinbase Wallet has announced support for the .crypto blockchain domains via a partnership with Unstoppable domains, a decentralized domain name registrar that creates the “uncensorable” .crypto domains.
Within Coinbase Wallet, using the built-in browser, users will now be able to buy and sell .crypto domains. These domains can be traded, or can be used to host decentralized websites run on the Inter Planetary File Service, a peer-to-peer protocol for website hosting.
Speaking to The Block, Unstoppable Domains co-founder Brad Kam said:
“By supporting blockchain domains, Coinbase is single-handedly moving this market into the crypto mainstream. Blockchain domains will be a standard that all crypto wallets use in the near future.”
Other wallets, including MyEther Wallet, Huobi Wallet, and the Opera browser’s built-in crypto wallet also support .crypto domains. To date, 250,000 of these have reportedly been registered.
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Billion-dollar software firm MicroStrategy Eyes Investing in Bitcoin
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The billion-dollar business intelligence software firm MicroStrategy has, during its earnings call, revealed it plans to invest up to $250 million in alternative assets over the next 12 months, and specifically mentioned bitcoin as one of the options.
According to a transcript of the earnings call, MicroStrategy President and CFO Phong Le stated:
“We will seek to invest up to another $250 million over the next 12 months in one or more alternative investments or assets which may include stocks, bonds, commodities such as gold, digital assets such as Bitcoin, or other asset types.”
The company, which trades under the ticker MSTR on NASDAQ, noted that it plans to invest in alternative assets because of the declining value of the U.S. dollar amidst the Federal Reverse’s monetary stimulus and the low-interest rates seen across the West.
The company’s CEO, Michael Saylor, pointed out MicroStrategy’s “large” USD holdings are expected to give “negative real returns, or a negative real yield,” and as such plans to move to bitcoin, gold, or silver which are “showing strength.”
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Swipe (SXP) Trading Competition - $250,000 in Rewards to be Won on Binance!
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Binance and the Swipe team have committed to a total of 100,000 SXP and 50,000 USDT in prizes to be won as a thank you to their users worldwide, for their continued support and to also celebrate the Swipe acquisition and SXP being added to Futures, Margin and Spot markets.
Competition period: 2020/08/05 0:00 AM to 2020/08/12 0:00 AM (UTC)
Promotion A: NEW USER Exclusive Rewards
All users that register a new Binance account during the competition period and complete any 1 of the 3 tasks below will each win a reward of 10 SXP. Rewards will be distributed on a first-come, first-served basis to the first 2,000 users.
- Trade 100 SXP or more (buys & sells) in the SXP/USDT spot or margin trading pairs.
- Deposit 100 SXP or more to your Binance account from an external wallet or from another exchange
- Complete at least one trade on the SXPUSDT perpetual contract on Binance Futures.
Promotion B: SXP Trading Competition - 80,000 SXP to be Won!
The top 30 users ranked by effective trading volume will share a pool of 80,000 SXP. The rewards will be split based on each user‘s total trading volume as a proportion of the top 30 users’ total effective trading volume during the competition period. Trading volume for this promotion includes buys and sells in the SXP/USDT spot trading pair only.
Promotion C: Trade SXP to Receive a 500 USDT Reward!
Users ranked 99th, 199th, 299th, 399th, and so forth until the 9999th place based on their SXP trading volume (including buys and sells) during the competition period will each receive a 500 USDT reward.
This includes all combined trading volume completed across the SXP/USDT margin & spot trading pairs and also the SXPUSDT perpetual futures contract.
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