Bancor invites issuers to follow their example after being hacked

Bancor invites issuers to follow their example after being hacked

This Thursday, Bancor, the decentralized exchange platform published a statement on its official blog. The platform, which was pirated on July 10, declared that a thorough investigation is underway. They announced that they will release an updated statement as soon as they complete the hack analysis.

Bancor witnessed an attack at 00:00 UTC, and the platform reported that the wallet used to update the smart contracts was compromised. The exchange suffered a loss of US $ 23.5 million in Ethereum (ETH), Bancor network token (BNT) and Pundi X (NPXS). They were able to recover Bancor's network tokens valued at US $ 10 million that were stolen.

Guy Benartzi, co-founder of Bancor, apologized to all customers and followers of Bancor regarding the hacking. The Bancor team stated that the loss incurred by the platform will not have any negative impact on its mission or on its next projects. They announced their next features:

• New types of Blockchain

• Stable currencies

• Derivatives

• Community currencies

The decentralized exchange platform elaborated on the measures that were used to recover the BNT. It is reported that the emergency mechanism refers to the freeze / pause function found in many tokens such as EOS, Tron, OmiseGo, Augur and many more.

They added that this was the first time that the exchange platform made use of this mechanism that protected them from facing major damages and also to recover the stolen BNT (worth US $ 10 million).

In addition, the pirated exchange platform stated that all token issuers should follow their example. They expressed the following:

"We encourage all responsible card issuers to follow Bancor's example by transparently deploying emergency capabilities to protect their communities, and the industry in general, against thieves and criminals. Equally important is the ability of the projects to develop an updated code that allows them to learn, iterate and progress more quickly towards the massive adoption of these important technologies in the market. "

The CEO of Bancor said that they are forming a group of cryptographic defenders whose only responsibility would be "to fight together against the criminals". Guy Benartzi also said that during the hack investigation, they discovered several attacks against other projects. The Bancor team has approached these projects and informed them about the exploits in their projects.

After the hack, many market speculators and investors have begun to claim that decentralized platforms are not yet ready for mass adoption.

Some of them have also declared that they will switch to decentralized exchanges only when they have security measures in tandem with centralized platforms. However, there are some encryption investors and traders who still show their support for the exchange platform.

In the coming days, Bancor will begin with new internal tools that will help track stolen funds with the intention of making the information available to the entire crypto community.

Apple could already be playing with the IoT

Apple could already be playing with the IoT

We know that Apple the super company of Cupertino in California, the United States, since its inception has revolutionized the market with its technology year after year, because this time is not the exception several former workers, have already expressed the company of the manzanita, is experimenting with the IoT through its HomeKit platform.

One of the technologies that most fans Apple fans and technophiles, is the Homekit, where for now they would only scratch the surface of what they could do with their platform and everything they would allow to do at home.

There is a part of these same fans according to the study carried out by 9toMac, who expect Apple to follow in the footsteps of Samsung and create its own producer for the home, but we all know that this vision is very unlikely, but they would still be accessing the market. Internet of things with its HomeKit platform, which is presumed to be the basis for the construction of the interconnection area of ​​various devices.

Independently of the compatible accessories that are chosen the App "Home" would facilitate the configuration and control of all of them, from a single place and in the most intuitive way, just as Apple has accustomed us with all its App and devices.

More than 50 brands from around the world have already committed to being accessible to HomeKit and the number is growing more and more. Not only that but these accessories would be tested and certified by Apple, to avoid security incidents for users of these devices, because there are thousands of cases around the world.

"Everyone who knows Apple knows that they will never create a system of" Apple Sprinklers ", but will make someone else do it and market it under its platform" Express Bradley Chambers who has been part of the external team of Apple developers in the area of ​​education.

Instead of trying to let Apple discover by itself which devices its potential customers want, manufacturers will be able to build specific accessories and then market their products to any user of an Apple product.

The Cupertino company has already built a system that has deep roots in all its products, but even so this platform is still one of the safest that could be in the market, and besides this it would present a fairly simple solution for the final consumer, because the idea is that you can control all your devices from the Home application and the process of adding a new one, be it the most trivial thanks to the iOS operating system.

For everything that HomeKit has contributed to home automation and the Internet of Things, managers have a really difficult time with the IoT, since there is no centralized platform to build that can cover the full potential of the market, there is no many security standards still established by the states, is more and more headache for Apple workers many of these devices work with Java, and there is a native application (at least for now) to update the iOS operating system every time Java is updated, this has been shown to "completely break the system"

"It's terrible to try to configure the software since it seems created in 2003."

IoT is an ecosystem that the only way it presents now is to continue growing and expanding. By 2020 experts have estimated that there will be 25,000 million devices that will be able to access this interconnection network of things.

IoT devices are generally cheap, difficult to administer, difficult to protect and are rarely updated. That is why Apple has tried to address the issue very carefully, although all the rumors indicate that Apple could have found a solution to all the problems that currently presents the technology.

Platform that fights against false news collects US $ 3 million, its weapon being decentralization

Platform that fights against false news collects US $ 3 million, its weapon being decentralization

In this age where information is crucial, being considered the most valuable asset, there is the problem of invalid information, disinformation or misunderstandings. Therefore, the Dirt team took the initiative to solve this problem with the technology that is changing the world, with Blockchain.

The Dirt Protocol team announced that it has raised US $ 3 million from numerous corporate and private sources to launch its research database.

When the founder Yin Wu, who had previously created two successful startups, became interested in the cryptocurrency space, but was intimidated by the mass of fear, uncertainty and doubt that circulates around offers of currencies and cryptographic exchange information.

Wu told TechCrunch: "Today's market is not yet regulated, with a high incentive for people to spread misinformation for personal gain."

The only solution to filter the trolls and huxsters that seemed viable when it began to disrupt the way social networking sites worked, such as Reddit, was to ensure that users had "some skin in the game", which it means a financial participation in the creation of positive publications.

The Dirt Protocol aims to be a toolbox for developers to create their own databases that can focus on specific issues. A single token will work across the platform and users will need to bet chips to create new posts, dispute someone else or vote when a dispute has occurred.

Wu believes that the incentives and economic sanctions will eliminate most of the bad information. On top of that, the more popular a database, the more expensive the interaction will be. As he said wu:

"The more valuable the network is, the more people contribute information, the more expensive it becomes to contribute".

TechCrunch noted that the pay-per-play aspect of the Blockchain platform may prevent trolls from abandoning their opinions just for fun, but it seems almost tailored to a concerted marketing or propaganda campaign with funds like the one that supposedly influenced the presidential campaign of 2016 in the United States.

Since the decentralized verification system puts the power to establish truthfulness in the hands of a majority that can afford to vote, an organized group could control a database.

Ripple being replaced, Litecoin and Stellar razing

Ripple being replaced, Litecoin and Stellar Razing

Ripple had a growth season in 2017 with its XRP cryptocurrency, reaching a peak of US $ 3.75, allowing the company to make agreements with several banks in the European territory to use its Blockchain technology, using the cryptocurrency as a reference of efficiency.

Unfortunately, since that peak has only presented falls, causing investors to abandon the project and, as a result, the agreements lose strength.

At the same time, other companies had their growth periods, even now they maintain it; it should be noted that they are not similar to BTC at the time. We refer to Stellar and LiteCoin, with their respective XLM and LTC cryptocurrencies.

These currencies have begun to gain influence in the European territory, being a reference when wanting to make small transactions, a quality that interests banks in particular.

In terms of values, according to CoinMarketCap, they have the following valuations:

• XRP $ 0.44

• LTC $ 77.59

• XLM $ 0.18

Explanation

According to the report made by GlobalCoinReport, the reason for this is related to a transfer of confidence from the investors, given that the 2 nascent companies managed to obtain some stability while XRP collapses, reflecting that their companies can better handle the times of crisis , which interests the banks.

This trust is directly related to the interest in the technology offered, for which the agreements were mobilized towards these companies.

Reflection

The same report exposes the current agreements held by companies, highlighting the fact that more banks are showing interest in working together.

• TPAY Cryptocurrency

• eFin Decentralized Exchange (DEX)

• TokenSuisse Asset Management

• WEG Bank FinTech Platform

• Multisignature Transaction Engine

Future projections

Various media are giving a pessimistic ultimatum towards the cryptocurrency, claiming that if this trend continues, it could end up dying like other currencies. However, there are slightly more optimistic opinions, stating that there is an opportunity for the currency to stabilize, but if it manages to reach a value of US $ 1 it would be a miracle.