Category: Cryptocurrency News

submitted by /u/evilninjarobot [link] [comments]

Right now you need a fairly significant amount of Ethereum in order to transact on the network. If we imagine a world where sharding and layer 2 solutions have driven down gas fees to almost nothing, why wouldn't the price collapse? Hypothetically, I could do all of my business on Polygon or the Visa Crypto…
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A listing at Coinbase and the upcoming sale of the first real estate NFT in the U.S. appear to be providing a boost to PRO price.

Hi – new to crypto / ETH investor. Inexpert question – what happens to ETH network revenue following mass adoption of L2s? Any thoughts on what this would mean for ETH demand in a few years? Thanks! submitted by /u/inxpert [link] [comments]

So, guys, I'm going to see if PPS is better than PPLNS Right now and come back with results I've been mining on ravenminer PPLNS for a few weeks on this card, I'm gonna try a few days PPS Edit: Forgot to say my hardware. I have 1 GTX-1070 for this experiment, and I have…
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In mid-October 2021, Twitter founder Jack Dorsey revealed the payments firm Block Inc. (formally Square) was considering joining the bitcoin mining industry. Three months later, Dorsey tweeted that his firm was “officially building an open bitcoin mining system.” The Block’s Hardware General Manager: ‘We See Bitcoin Mining as a Long-Term Need for a Future That […]

As if working out your tax for crypto wasn't hard enough, the IRS now want us to include income from illegal activities as well as report any stolen property you may have,. According to IRS publication 17, the Internal Revenue Service wants taxpayers to include on their forms “income from illegal activities, such as money…
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PRESS RELEASE. Tampa Bay, Florida, U.S.A – 16th January 2022 – Pocket Network – an infrastructure middleware protocol which facilitates decentralized cloud computing and abundant bandwidth on full nodes interoperable with DApps across all 21+ blockchains surpasses milestone 20,000 full nodes, answering a real and conceptual question around decentralization viability. Pocket Network incentivizes a global […]

The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack. Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer. An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens. Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else. With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093. Lympo Team To Fix Grudges Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption. Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action. With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss. Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that. Another Crypto Hacking On Hot Wallet Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange. Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ. Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack. Featured Image from Pexels