A primary attraction of decentralized cryptocurrencies is that they’re censorship-resistant. The more centralized a coin is, the easier it is for its supply to be controlled. But there’s another problem with overly-centralized cryptocurrencies such as ripple: they risk being classified as a security, which brings all kinds of problems. Also read: Emin Gün Sirer Discusses Cryptocurrency […]
The post Centralized Ripple Is Probably a Security Token appeared first on Bitcoin News.
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It appears things are going from bad to worse for the NEO ecosystem as of right now. After the recent failure of a consensus node, it seems the blockchain ran into more problems this week. Blocks were generated a very long time apart, which is rather unusual. Some network transactions never arrived at their destinations either. It’s a very worrisome development for the world’s sixth-largest cryptocurrency by market cap. NEO Network Crumbles Once Again It is neither the first nor the last time we will see issues affecting the NEO blockchain. Until the team finalizes their decentralized consensus mode approach, issues like
Most of the world’s cryptocurrencies are decentralized in many ways. This is especially true when it comes to nodes and other entities which help protect networks. In the case of NEO, it seems one of its remaining points of failure caused a few issues last night. NEO’s Network was Halted Thanks to one Node It is always interesting to see how network nodes perform. As most networks have dozens if not hundreds or thousands of nodes, there should – in theory – never be any central point of failure. In the real world, however, that is not always the case. Virtually every currency
What to make of NEO? The Chinese blockchain is, on paper, the most successful Asian cryptocurrency project to date. It’s listed on most major exchanges, boasts high trading volume, hosts numerous ICOs and has smart contract functionality. Not everyone is impressed though. Critics have called NEO a centralized, expensive, and unusable disaster. So which interpretation […]
Rarely a week passes when Tether, the company responsible for issuing the USD-pegged cryptocurrency of the same, isn’t in the news. In the last 24 hours, two separate reports into the status of Tether and its USDT tokens have been published, one examining its legal status and the other exploring its blockchain. Meanwhile, Upbit exchange […]
The whole point of cryptocurrencies is that they’re decentralized. Peer-to-peer cash; trustless exchange; bypassing intermediaries. So why are numerous cryptocurrencies structured more like central banks? From adjusting wallet balances to controlling nodes, many crypto projects behave just like the financial institutions they were meant to replace. Throw in the cult of a strong leader, and […]
Ponzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not from DDoS hacking attacks. The story is more of a ballad, a great object lesson, and it is the lie […]
Whenever new research surfaces regarding Bitcoin and other cryptocurrencies, interesting things are bound to happen. The latest publication of such research on Hacking Distributed points out some interesting aspects of Bitcoin and Ethereum. None of it is actually surprising, but it does show that some things will need to change very soon. That’s especially true in regards to Bitcoin, as it is clearly underutilizing the potential of its technology right now. Addressing Bitcoin’s Flaws is not Easy The research posted on Hacking Distributed points out some very interesting things about both Bitcoin and Ethereum. Although people familiar with these projects know all too
Mark Zuckerberg, founder, chairman, and CEO of social media platform Facebook, has posted his annual challenge. It’s often a look back at major events, taking stock of the year, and appraising what’s ahead. This year, he ended his note with a pointed call to “take power from centralized systems” by employing uses for “encryption and […]