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Ripple Engineers Dabble with Radioactivity to Generate Random Cryptocurrency Addresses

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The world of cryptocurrencies has only reached as far as it is today because of the large scale update architecture built into the soul of the industry. Engineers and developers have taken it upon themselves to ensure the longevity of the virtual asset ecosystem by bringing in new and improved methods of key generation.

Ripple, the cryptocurrency company led by Brad Garlinghouse, has been at the forefront of many innovations with the sole purpose of taking the nascent industry into the mainstream realm. Keeping in line with this, the engineers at the organization have been trying to dabble in some new tricks: generating cryptocurrency addresses with the help of microcontrollers and radioactive decay. 

The concept of generating random numbers from radioactive decay was an older experiment but that did not mean it had been used in connection with the cryptocurrency industry. According to the engineers at Ripple, the way to sustain a stream of random numbers was to measure the time between 2 successive Geiger Counter click events with as much precision as we can.

The microprocessor install was conducted on an Arduino workspace which printed a JSON payload. The entire setup was meant to be as good or sometimes even better than built-in tools. Ripple’s blogpost stated:

“But researchers are always poking holes in real-world implementations of theories and proving them less secure than intended. For those reasons we can’t recommend you use this as a method for generating wallet addresses for storing any significant amount of any cryptocurrency.”

The experiment took about forty minutes to generate a completely random cryptocurrency address, which was not something that could be used in real-world applications. Ripple engineers added that the location of the experiment also played a big role in generating the required counts per minute. External stimuli are a major factor to be considered with some scientists claiming that a practical solution can be created if more research is conducted.

For the time being, address generation using radiation is still in its nascent stages but that does not mean it cannot have future implications. As an industry that came to life just over a decade ago, the rate of growth has been more than any other industry in the history of humanity.

Bitcoin Trader Robbed of More Than $350,000 Gets Justice as Main Accused Gets Charged in Singapore

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Ever since the inception of the cryptocurrency industry, it has witnessed several cases of scams and fraudulent activities. Sometimes these events tend to go overboard in the physical world as well.

This week, a court in Singapore adjudged that the last member of a three-member gang who stole thousands of dollars from a Bitcoin trader was guilty. Jaromel Gee Ming Li was sentenced by the court to three years in jail as well as twelve strokes of the cane as part of his punishment. 

Ming Li and his cohort included Mohd Abdul Rahman Mohamad and Syed Mokhtar Syed Yusope and were involved in attacking a Bitcoin trader back in 2018. Abdul Rahman is yet to go on trial for his crimes while Syed Yusope has already pleaded guilty to robbery. According to sources, Abdul Rahman and Ming Li would act as third parties in a bid to lure cryptocurrency investors into their trap.

In these instances, buyers would approach them with a lot of money looking to make a massive profit by trading cryptocurrencies like Bitcoin. During the event in question, the three parties decided not to transfer the cryptocurrencies even if the buyer provides them with the capital. The victim, Pang Joon Hau had traveled from Malaysia to Singapore to conduct cryptocurrency trades where he fell prey to Ming Li’s scam.

Mr. Joon Hau had a total of $365,000 with him that he planned to convert to cryptocurrencies. When Ming Li found out about this plan, he quickly informed both Abdul Rahman and Mokhtar who arrived at the hotel at night to execute the plan. During a meeting between Mr. Pang and a Bitcoin broker, Mokhtar interfered and attacked Mr. Pang for his money. Both Abdul and Mokhtar made off with the money but their happiness was shortlived as Abdul was arrested just two days later.

Kin of the accused was also brought in to establish proof with Abdul Rahman’s ex-wife also pleading guilty for receiving contraband from him. This turned out to be the final nail in the coffin as it started the snowball effect of arrests. Abdul’s ex-wife was also sentenced to 9 weeks in jail starting from mid-October. The final conclusion of the case will only be revealed at the end of the last arrest with many members of the cryptocurrency community wondering how harsh the penalty would be.

Ethereum, XRP Enjoy Bull Solace as Cryptocurrency Market Sees Red at Start of New Week

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Over the past couple of weeks, the cryptocurrency market has had a roller-coaster experience. From surging into bullish territories over one week while crashing like there’s no tomorrow over the next, cryptocurrency prices have been fluctuating, to say the least.

Despite the fall in prices, some cryptocurrencies have been headstrong in maintaining their standards. The two best examples for this are XRP and Ethereum who have maintained a steady climb over the past 24-hours.

Ethereum

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Ethereum’s price rise has been consistent in the last couple of months and the latest week’s increase has only given weight to co-founder Vitalik Buterin’s argument that the token was reliable. At press time, Ethereum was trading for $341.21 at a market cap of $38.386 billion. A 3 percent increase over the past 24-hours had elevated the daily trading volume to $25.79 billion.

The largest altcoin’s technical analysis showed that there might be a few reasons why fans of the cryptocurrency might need to remain wary. The Relative Strength Index had crashed towards the oversold zone in September, which meant that the selling pressure had overtaken the buying pressure.

At the same time, the Chaikin Money Flow indicator fell below the zero line. This event occurred for the first time since March because of the lack of capital coming into the market while there was a lot of outflows. The Parabolic SAR also sided with the bear as the markers stayed above the price candles.

Ripple

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XRP, Ripple’s native cryptocurrency, and surprisingly one of the gainers in the top 10 crypto club. A 24-hour increase of 0.58 percent had taken the token’s price to $0.235 with a market cap of $10.6 billion. The 24-hour market volume had also climbed to $1.71 billion. XRP’s technical analysis also had a bearish undertone to its indicators as the CMF, RSI and the Parabolic SAR all pointed to a bear’s reign.

The Parabolic SAR markers were above the price candles after a stagnant price movement. The Relative Strength Index on the other hand took a similar pattern to that of Ethereum’s, falling to its biggest low since July of this year. Only the Chaikin Money Flow indicator displayed a positive sign as the graph moved up towards the zero line. If it continues down this path, it would mean that more and more people were investing in the XRP market.

 

Argentina Border Crossing Process Affected as Bitcoin Scammers Take Off with Sensitive Information

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Scams and frauds have become prevalent in the cryptocurrency industry, with the community taking precautions against the devastating consequences they can have. Over the last few years, the world of virtual assets has done its best to combat this pariah, but even then, one or two major issues are still emerging.

The latest scam to rock the financial and decentralized world was a ransomware attack that halted Argentina’s border crossing for four hours. According to reports, the hackers demanded Bitcoin to lift the curb that they had put on the national system.

What makes this ransomware attack different from other instances is the fact that this was the first time a national process was interrupted for the sake of money. Argentina’s official immigration agency, the Dirección Nacional de Migraciones first reported the Netwalker ransomware attack on August 27th after which the discussion has been about paying the $4 million ransom. 

The agency added:

“Being approximately 7 a.m. of the day indicated in the paragraph above, the Directorate of Technology and Communications under the Directorate General Information Systems and Technologies of this Organization received numerous calls from various checkpoints requesting technical support. The Comprehensive Migration Capture System (SICaM) that operates in international crossings was particularly affected, which caused delays in entry and exit to the national territory”

Further details revealed that the organization did not consider it as an ordinary situation and that the event was evaluated against the infrastructure of the Central Data Center and Servers Distributed. The attack targetted the organization’s MS Windows-based files such as ADA SYSVOL and SYSTEM CENTER DPM. Sources have revealed that the $4 million ransom first started out as $2 million, which was jacked up because of the delay in payment. The attackers demanded the ransom to be paid in bitcoin, almost worth 55 BTC. 

 The website run by the scammers can be viewed on Tor with a link to a “Stolen Data” page. Here, users can view a screenshot of the content stolen from the Argentinan agency as proof. Investigative agencies are still trying to deal with the threat with many claiming that the hackers had covered every last step. 

Bank of England Governor Has Specific Plans for Emerging Stablecoin Market, Claims that the Industry Needs Overwatch

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Financial regulators across the planet have been doing everything in their power to bring cryptocurrencies and virtual assets under their mandate. Ever since the inception of Bitcoin and the altcoin industry, many traditional bodies have been convinced that the rules might need to be amended to accommodate the latest technology.

The latest traditional body to make a statement on the virtual assets industry was the Bank of England, which specifically stated that it needed to stay a step or two ahead of the emerging stablecoin market. This comment was made by the newly appointed BoE Governor Andrew Bailey who took charge of the post in March of this year.

The stablecoin market is still perceived as an emerging market despite the rise of major tokens like Tether. These tokens are linked with the US dollar which makes their prices much more ‘stable’ than the rest of the pack. Stablecoins shot into the limelight when Facebook announced its own called Libra coin. This disrupted the already controversial market with policymakers convinced that they had to do something about it.

Coming back to the Bank of England Governor, he claimed that the traditional market heads should ensure proper coverage of the cryptocurrency market. In his words:

“If stablecoins are to be widely used as a means of payment, they must have equivalent standards to those that are in place today for other forms of payment types and the forms of money transferred through them. If a sterling retail stablecoin wishes to operate at scale in the UK, then we will strongly consider the need for an entity to be incorporated in the UK.”

The United Kingdom has made some radical changes over the past couple of years to strengthen its financial ecosystem and protect it from anything that may hurt its integrity. Apart from this, the country has also asked the G20 nations to adopt stringent standards to watch over the cryptocurrency industry. This was a point reiterated by Andrew Bailey who claimed that existing regulatory standards must be examined and updated where necessary in light of stablecoins.

Eggies Opens Up its Vault as it Sets its Sights on Revolutionizing the Cryptocurrency and Blockchain Gaming Industry

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The world of cryptocurrencies has thrived on the sheer number of developments created by crypto organizations and individuals interested in the field. User engagement has always been top priority with several companies ensuring that customers come back for more activities or events.

Out of the numerous projects in the cryptoverse, some stand out because of their innovations and the way they keep their customers engaged with Eggies being a prime example. Working under the umbrella of Eggies World, the organization has been responsible for launching Eggies World V.1, Planet Boom! , and Boom Elements. 

Eggies World was first created with the intention of bringing multiple players from the cryptocurrency industry into a common area where they could have fun as well as make use of crypto tokens.

At its launch, the game was a popular player vs. a mobile game where the user could hatch, grow and battle monsters to earn TRX tokens. What made the game stand out from the crowd was the fact that each user-generated avatar was unique in its own way. The developers at Eggies World did this by linking the monster’s DNA to the Tron address of the EGG holder.

The address linkage was a huge success because of the different experiences that each user possessed. Officials from Eggies World told TWJ that the avatars in the game could learn from over 80 different attack formats, thereby making the game much more eclectic than its compatriots.  

Next on the company’s roster was Planet Boom, which launched in the beginning of this year. Planet BOOM! was initialized as a mini-game within the Eggies world and its success was so massive that it became the number one dApp on the Tron blockchain in no time. One of the main reasons why the game shot to fame was because of its high dividend edge, which drew a lot of new customers into its fold. 

Twenty-twenty was also the year that the company decided to add another version to the original Eggies World. Eggies World V.2 upped the ante when it came to raising the in-game avatars as users were now given the option to raise multiple numbers. Apart from being converted to a full-featured desktop platform, the second version of the game also laid out the foundation to go on a multi-chain platform. The in-game usage EGG usage was also improved with 20 new variants being introduced with the second iteration of the game.

The company ensured that the developments kept on coming as Eggies World V.2 was soon followed by BOOM Elements, the debut version of 2019’s Planet BOOM!. Boom Element’s launch was conducted completely out of the blue and yet it piqued the interest of many enthusiasts. Sources close to the game’s workings informed TWJ that the latest version had overhauled gameplay, eye-catching design and sounds. The company further added that the next step towards attaining wider adoption was the implementation of the Matic coin. 

 

Tron [TRX/USD], Cardano [ADA/USD] Price Analysis: Justin Sun’s baby Continues to Shatter Expectations as ADA Struggles with the Rest

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The cryptocurrency market’s bullish performance over the past two weeks came to an abrupt halt on Thursday when prices dipped in rapid succession. Currencies that enjoyed a winning streak suddenly saw their market caps and volumes fall as the market corrected itself at the close of the first week of September.

Out of the best performing cryptocurrencies, only Tron seemed to maintain its standard as the Justin Sun founded cryptocurrency maintained its bullish regime. At the time of writing, Tron was still climbing on the charts with no signs of abating.

TRON

By Friday, Tron had climbed into the top 10 cryptocurrency club and occupied the 9th position. At press time, Tron was trading for $0.042 with a total market cap of $3.067 billion. After a 15 percent price increase over the past day, the 24-hour market volume had climbed to $7.015 billion. The most remarkable aspect of the Tron surge was the weekly surge of 81 percent during a time when all its compatriots were bleeding red.

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Tron’s technical analysis also pointed to a prolonged green run as all the indicators sided with the bull. The Relative Strength Index had broken the overbought threshold as more people entered the Tron ecosystem. The marker near the top of the graph indicated that Tron’s buying pressure was much more than its selling pressure. Meanwhile, the Chaikin Money Flow indicator witnessed a small dip towards the zero line. This may be due to the reduction in the capital coming into the Tron market.

Cardano

On the opposite end of the price, spectrum lay Cardano, the token created by the IOHK Foundation to aid in day to day use cases. At the time of writing, ADA was trading for $0.096 with a total market cap of $2.488 billion. The 15 percent daily dip had also lowered the 24-hour market volume to $548.65 million.

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While Tron’s RSI was above the overbought zone, Cardano’s RSI rested right at the oversold zone. This was a clear indication that traders were selling their ADA tokens to move to other cryptocurrencies that were climbing on the charts. ADA’s CMF also took the bear’s side as the graph fell below the zero line for the first time since mid-March. This fall was in conjunction with the recent bear crash that slaughtered any increases achieved since August.

Tron [TRX/USD] Price Analysis: Cryptocurrency Enjoys Record Bull Week as Price Surges by More than 20 Percent

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The cryptocurrency market has been enjoying a substantial bullish run over the past week as the sentiment has become positive. As the price of major altcoins begins to surge, more and more investors have decided to place their faith in the world of virtual assets.

Tron, the Justin Sun founded cryptocurrency had fallen below it’s ranks over the past few months but since the last week of August, the token has been on the upswing. Over the past 24-hours, the 13th ranked cryptocurrency has risen by over 20 percent with the market cap aiming to break it into the top 10 club.

At the time of writing, Tron was trading for $0.0360 with a total market cap of $2.61 billion. The double-digit growth has also elevated the 24-hour market volume of $2.74 billion. In the past week, Tron surged by 56.24 percent- the second-biggest gain in the top 20 club after NEM. Only Ethereum’s gain came even close to Tron’s with a weekly gain of 24.6 percent.

tron charts

 

A technical analysis of Tron showed that the cryptocurrency was going to be enjoying a bullish trajectory for some more time. The Relative Strength Index had broken above the overbought zone over the last week. This was an indication that the buying pressure had increased significantly causing more people to buy more TRX tokens.

The Chaikin Money Flow indicator also pointed to the bullish side. The graph had jumped much higher than the zero line, a sign that the capital coming into the Tron market was more than the capital leaving the market. This was indicative of the usual pattern where more people fall into the crypto sphere whenever there is a price increase.

Even the Bollinger bands indicated a bullish upswing for TRX. The upper Bollinger band and the lower Bollinger band both diverged from one another. If this trend continues, there would be another price breakout soon.

It is not yet confirmed if the bullish run would continue, but it certainly is a good time to look at it as an investment opportunity. Justin Sun and the Tron Foundation would also agree that the price is reflective of the developments occurring within the cryptocurrency organization.

 

Indian Cryptocurrency Sees Resurgence as August Marks 6 Months Since Crypto Ban Was Lifted

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The world of cryptocurrencies took a massive upswing in March when India’s Supreme Court reversed a ban imposed by Indian’s Reserve Bank back in 2018. Ever since the ban was lifted, several popular institutions who had lost interest in the subcontinent came flocking back to set up shop.

This increase has not gone without notice as many analyst companies outrightly claimed India’s importance in today’s burgeoning economy. The rebound in exchange trading has been accompanied by a rapid thaw in mainstream responses to cryptocurrency.

India’s population has always created a large user base that companies look at with massive interest. With over 600 million banked individuals, it only takes a momentary push to bring in a mainstream sentiment for the cryptocurrency world. Even former RBI governor Raghuram Rajan had said that the world of virtual assets would play a pivotal role in taking the fintech world to the next level. The acceptance level for crypto has reached such a level that even the International Monetary Fund recently released a video talking about the benefits of decentralized assets.

This marked improvement in the affairs comes a few years after a complete crypto shutdown in the country. When the RBI first instituted the ban, several high profile companies from India left the country and decided to explore options in other regions. Zebpay, a popular cryptocurrency exchange was one of the major examples in this crossfire with founder Ajeet Khurana once claiming that a return to India would be profitable.

His words seem to have come true as the crypto industry has grown by double digits in the country. Bitcoin and Ethereum trades are at an all-time high in the country and it does not seem to be slowing down anytime soon. Even Arjun Vijay, the co-founder and Chief Operating Officer of Giottus Cryptocurrency exchange stated:

“It takes time to add beneficiaries and transfer money to peoples’ bank accounts. This can be anywhere from 30 minutes to several hours. Most people don’t have the patience to trade like this. Volumes fell 90% when the RBI payments ban came into effect in August 2018.”

The Indian market will again see a resurgence when the price of Bitcoin goes up, a situation that has been on the rollercoaster for the past two months. Experts assume that the current support will maintain for some more time, which can provide sustenance for a continued bull run.

Vitalik Buterin Wary of Upcoming Brain Implants as Neuralink Gets Ready for Friday Demo

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The modern age has pulled all stops when it comes to technological advancements with cryptocurrencies just forming the tip of the iceberg. However, as technology moves ahead at a rapid pace, some tech evangelists have asked people to be more mindful of the changes.

As we approach the much-awaited demonstration of Elon Musk’s Neauralik, Ethereum co-founder Vitalik Buterin has put forth his own comments and suggestions on the topic. The 26- year old programming prodigy gave his two cents on why genetic modifications to the brain would be a bad idea in the long run. 

Musk and his Neuralink organization are touted to showcase the first workings of the model on Friday with many claiming how it would revolutionize the way we consume content. The Neuralink device works by embedding a device in a person’s body which in turn will act as the controller when any action is required to be taken. This interlink between a device and the human brain was seen as a disturbing attribute by Buterin, who sided more with genetic enhancements.

The Ethereum co-founder’s tweet read:

“Am I the only one who finds genetic enhancement of humans *much more palatable* than brain implants? Genes are hard to target; there’s no ‘gene for obedience to the communist party.’ But mixing brains and centralized digital tech risks eroding our strongest domain of privacy.”

Buterin’sn discussion also veered into how people can be controlled using devices such as the Neuralink. He also made the connection that there were also some flaws with gene therapy, pointing out some genes that are directly connected to obedience. He claimed that people with such genes are just as vulnerable to becoming obedient to cults that “the government hates’.

Some people even enquired if there existed devices that would make people obey the communist party. To this Buterin replied:

“No but I’m sure the brain implants that people will come up with by default could be easily backdoored to surveil people’s moods even about specific topics and so forth.”

The extent of Neuralink’s abilities is not yet confirmed but sources say that the live demo will show its brain machine interface while providing details about the state of human trials. Fans and critics alike will have to wait and watch how Musk plans to unfold his latest masterpiece and if it will bring positive changes to the world of technology.