Monero’s [XMR] community ‘seems honest,’ while ZCash community ‘scares’ me, claims former Bitcoin developer

The privacy oriented digital coin, Monero [XMR], garnered attention from the crypto community after its transactions hit an all-time high following Bitcoin’s pump over $6,500 and BTC breaching subsequent resistances.
At the recent Magical Crypto Community Conference, Peter Todd, former Bitcoin Core developer, applauded the privacy coin’s community, while criticizing the community of another privacy coin, ZCash.
Talking about Monero and ZCash communities, Todd said that the XMR community “seems honest” and represents the coin “accurately.” ZCash however, scares the former developer. Despite admitting that the technology behind the privacy coin ZCash “is quite good,” Todd alleged that certain posts by the ZCash community on social media platforms are “inaccurate and misleading.”
He went on to say that he would rather have a community that is “honest and accurate” and one that represents the technical capabilities of the digital coin.
While highlighting the fact that Monero is “perfectly blinding” and Bitcoin is “perfectly binding,” Todd was asked if that is a fundamental flaw the privacy coin needs to eliminate. Todd responded by asking why there cannot be two systems with different use cases and different capabilities. Todd further added,
” .. smaller number of currencies are more efficient than a larger number so I would rather see something like add-ons to Bitcoin, where you could take your Bitcoins and move it off into something like Monero.”
Todd also touched upon the topic of Bitcoin’s fungibility. At the conference, the former developer was asked whether he would accept blacklisted Bitcoins from a recent hack. To the question, Todd replied that he would since he believes that currently, “Bitcoin is fungible enough.”
The post Monero’s [XMR] community ‘seems honest,’ while ZCash community ‘scares’ me, claims former Bitcoin developer appeared first on AMBCrypto.
Source: AMB Crypto

Six Cryptocurrencies to Watch in 2019

Six Cryptocurrencies to Watch in 2019
Nora Mork, a tech and business journalist, shares her list of six most promising cryptocurrencies you should definitely keep an eye on in 2019.
Six Cryptocurrencies to Watch in 2019

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Source: CoinSpeaker

Rothschild-Linked Oil Tycoon Frank Timis Creates Ripples in Bitcoin Mining Pool

Rothschild-Linked Oil Tycoon Frank Timis Creates Ripples in Bitcoin Mining Pool
Argo Mining has welcomed Frank Timis – a new whale coming from the oil and gold industries with formidable ties with the Rothschild Bank aiming to cause ripples in the nascent market.
Rothschild-Linked Oil Tycoon Frank Timis Creates Ripples in Bitcoin Mining Pool

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Source: CoinSpeaker

Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Monero [XMR] accepted for payments by adult site CamSoda

Bitcoin [BTC] and other cryptocurrencies in the market have been trying to gain more adoption in terms of real-world use-cases. One way of doing this is being accepted as a mode on payment in exchange for services. One of the main industries that have taken the lead in this regard is the adult entertainment industry. CamSoda, an adult entertainment company, announced cryptocurrency payment support for most of the leading cryptocurrencies in the market.
The first digital currency accepted by an adult site was Verge [XVG], a trendsetter in the cryptocurrency space. After a huge marketing round over a “mysterious” partnership that was billed as the “biggest collaboration in the entire industry,” the Verge team announced its partnership with PornHub, a popular website for adult content.
This partnership received both positive and negative responses from the cryptocurrency space, with a majority stating that it could push forth cryptocurrency adoption. The next notable announcement was Tron [TRX], currently the eleventh-largest cryptocurrency, being accepted as a mode of payment on PornHub. Additionally, the two coins also gained support from Brazzers, Natakugames, and Traffic Junky.
The acceptance of cryptos for payments by CamSoda is the latest affair between the adult entertainment industry and cryptocurrencies, Hard Fork reported. The leading adult industry player will allow its users to purchase tokens with seven different digital currencies. The cryptos listed on the platform are Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], Monero [XMR], Tron [TRX], and ZCash.
Source: CamSoda | Hard Fork
Daryn Parker, VP of CamSoda, said in a statement to Hard Fork,
“Now that we are seeing more adoption of the technology, we decided to give our users what they’ve been asking us for some time”
The post Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Monero [XMR] accepted for payments by adult site CamSoda appeared first on AMBCrypto.
Source: AMB Crypto

Zcash [ZEC] and Monero [XMR] Shift Gears, Further Gains Possible?

Zcash (ZEC) and Monero (XMR) are the two most popular privacy-focused cryptocurrencies in the market. The cryptocurrencies gained on 1st April on a daily scale on positive market sentiments.
Zcash (ZEC) Gains Above 7%
The price of Zcash (ZEC) at 10: 30 hours UTC on April 1, 2019, is trading at $62.16. It is trading 7.49% higher on a daily scale.
The All-time High price of Zcash is $3191. However, this was traded by the FOMO created in the market during its launch. Moreover, the high of Zcash during the bull run of 2017 was $880. The price of Zcash is down 92.9% from its high in January 2018.
The RSI signal on the 4-hour chart has, however, entered the over-bought region above 70. The price traded above the 50-Day Moving Average on 20th March on the daily testing the 50-Day Moving Average as Support since then.
ZEC/USD 4-Hour Chart on Bitfinex (TradingView)
Monero’s (XMR) Golden Cross Come to Yield?
The price of Monero (XMR) at 10: 30 hours on April 1, 2019, is trading at $57.61. It is trading 7.44% higher on a daily scale. A surge in volume sparked the rise in Monero; this can be attributed to the positive trading sentiments around decentralized Altcoins like Litecoin [LTC].
The All-Time High price of Monero is $460; currently, it is trading down by 87.4% from its ATH.
XMR/BTC 4-Hour Chart on Binance (Tradingview)
The RSI signal on the 4-hour chart has also entered the over-bought region above 70.
The 50-Day Moving Average crossed the 100-Day Moving Average on 11th March. The price has been trading above both the average line indicating an upward movement.
The rise of Litecoin [LTC] price was about 100% in Q1 of 2019. Its conviction towards decentralized fungibility initiated the bull run. Moreover, Zcash and Monero already provide privacy and fungibility. The transaction capability of Monero and Zcash is also comparable to that with Litecoin [LTC]. Moreover, Monero and Zcash miners are also active in huge number. Hence, there is a high probability of the success of these privacy-based tokens.
The post Zcash [ZEC] and Monero [XMR] Shift Gears, Further Gains Possible? appeared first on Coingape.
Source: CoinGape

Stellar Suffered an Inflation Bug in 2017 Creating 2B XLM, Messari Reports

Stellar Suffered an Inflation Bug in 2017 Creating 2B XLM, Messari Reports
An attacker exploited a concurrency bug and created 2.25 billion XLM. Despite there were no media reports on the matter, Stellar stated that they had mentioned the bug twice in their release notes where they made it clear that the bug was exploited.
Stellar Suffered an Inflation Bug in 2017 Creating 2B XLM, Messari Reports

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Source: CoinSpeaker

Bitmain’s latest Antminer Z11 sold out in 20 minutes; Norway branch shuts down following revoke of electricity subsidies

Bitcoin mining behemoth Bitmain’s latest Z11 miner roll-out was reportedly sold out within 20 minutes after the pre-selling phase on its official website. Bitmain unveiled a new version of its Antminer Z series machines to mine Equihash-powered Proof-of-Work coins like Zcash on March 19.
Dubbed as the Antminer Z11, the new release claims to pack three times more hashing power than its precursor Z9. In a blog post, the exchange claimed,
“It is by far the leading model by performance to mine such cryptocurrencies.”
According to the Beijing-based mining giant, the latest miner offers a hashing power of 135 KSol/s and is three times more powerful than the Antminer Z9, which was released in May 2018. The post further claims that the miner saves up to 60% of electricity cost as compared to its predecessor Z9.
Antminer Z11, which uses Bitmain’s latest proprietary 12 nm chip, is equipped with a newly designed internal circuit structure with a power-efficiency of 10.50 J/KSol. Another feature that the latest version of Antiminer boasts of is ‘light’ weight, which stands at 5.4 kg despite its massive hashing capability.
Antminer Z11 will initiate the shipping process shortly, the blog confirmed.
The previous Z9 was launched at a time when the ZCash community voted against prioritizing research efforts to discourage the use of ASIC mining equipment. Talking about the huge turnout against gearing toward ASIC-resistance, Andrew Miller, the president of the Zcash Foundation, said,
“This is a fairly strong signal of disagreement. My interpretation of this is that we’re not going to make any hasty decisions like diverting all of the Zcash Foundation resources to promoting ASIC resistance.”
Earlier, Bitmain had been notoriously secretive about its operations but has now claimed to provide more transparency to the Zcash market. The blog stated,
“These commitments to transparency will continue to provide the Zcash foundation and community with the security, reliability and accessibility they desire of manufacturers.”
The world’s largest producer for ASIC machinery, Bitmain, has been surrounded with reports of facing a huge loss of approximately $500 million in Q3 last year. Also, the company was reportedly selling their old generation S15 miners at around 30% below their actual value. Samson Mow, the CSO at Blockstream, who also happens to be a Bitmain critic, had earlier tweeted that the exchange’s financials were weak.
Bitmain’s revenue and its userbase fell sharply during the beginning of the crypto winter in 2018 in a colossal difference as pictured during the 2017 bull phase when Bitmain recorded a remarkable profit with its annual profit ranging between $3 to $4 billion.
The post Bitmain’s latest Antminer Z11 sold out in 20 minutes; Norway branch shuts down following revoke of electricity subsidies appeared first on AMBCrypto.
Source: AMB Crypto

Zcash Gets A Positive Push In Price With The New Bitmain Antminer Z11

Bitmain, the largest manufacturer of cryptocurrency mining hardware in the world has released a new Antminer 11 hardware for Equihash Algorithm. The cryptocurrencies that currently follow Equihash protocol are Zcash, Bitcoin Gold, Komodo and so on.
The price of Zcash – $59.87, was trading 6.5% higher on the daily at 11 00 hours UTC on 20th March.
According to Bitcoin, the new Antminer Z11 will provide three times the hashing power than its predecessor Antminer Z9.
The new Antminer is now pre-selling on Bitmain’s official website and will start shipping shortly.
Antminer Z11: Most advanced Zcash Miner
The Antminer Z9 will offer a hashing power of 135 Ksols/s. Built on the most advanced microprocessor technology at Bitcoin, the miner is lighter than Antminer Z9.
Zcash has advocated ASIC resistance for a long time; however, in June last year, the Zcash Community decided to focus on other developments and updates.
Furthermore, Bitmain has also pledged towards transparency and uphold the Zcash community values by maintaining transparent shipment records for the new age miners. According to their blogpost:
To this end, we will tweet real-time updates from our QA teams and shipping warehouse via our official account (on 19th June, all Tweets, including these Z9 mini updates, relating to Antminer series and all other products sold on moved to, using the hashtag #Z9QA.
Zcash Price Analysis
The Zcash ticker increased by 16.5% momentarily on 20th March where the price recorded gains from 0.0138 BTC to 0.0168 BTC. However, it corrected to 0.0148 soon as the HODLERs booked profits in the short term.
Zcash/BTC 1H Chart on Bittrex
A significant rise in trading volume with a huge buy wall pushed the price of Zcash. Nevertheless, it lost is momentum almost instantaneously due to lack of market support.
Moreover, with increased mining efficiencies, the GPU miners who were bearing a loss until now can resort to more profitable hardware for mining Zcash. The increased sustainability for miners reinforces the strength of the Zcash Community.
Do you think the GPU mining age is over with Zcash and Ethererum? Share your views with us.
The post Zcash Gets A Positive Push In Price With The New Bitmain Antminer Z11 appeared first on Coingape.
Source: CoinGape

Yet Another Cryptocurrency Wins Listing on Coinbase Pro

Yet Another Cryptocurrency Wins Listing on Coinbase Pro
Coinbase adds Stellar Lumens to its professional trading service Coinbase Pro. Initially, XLM trading will be only available for customers in Coinbase’s supported jurisdictions, expect the state of New York.
Yet Another Cryptocurrency Wins Listing on Coinbase Pro

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Source: CoinSpeaker

Crypto Market Update: Altcoins Markets (LTC, DASH, XLM, DGB and Zcash) Gain $2 billion as BTC Holds Stable

BTC today recorded its 7th Day of Stability as the leading cryptocurrency continues to trade in the small range of $3960-$3871. The range has become narrower since the beginning of the week, which indicate a strong move ahead. Nevertheless, the stability of BTC has attributed to the gains of the altcoins, because FUD around Bitcoin bottoming was tied to Altcoin as well.
The Altcoins Seems to start gaining momentum with their adoption news, road-map announcements, regulatory improvements, and developmental updates.
BTC vs USD Chart Low Volatility in BTC in March 2019
Major Altcoin Movements of the Day
The altcoin market has been in green on the daily, though, the gains have been marginal in most of the coins – in the range of 2-4%. The total market capitalization of the altcoin coins (excluding Bitcoin) has increased by almost $2 billion gaining 3% on the daily.
Altcoins Gaining the Most (Pic:
The trading analysis of Litecoin had suggested bullish momentum a couple of days back. However, it too has continued to trade in a small range around 55$. Moreover, the trading range of LTC is similar to that of BTC after gaining 15% on 6 March from $47.03 to $54.13. Ethereum too has continued to trade in the $131-134 range of 1% for the past couple of days.
Litecoin Chart from 5th March – 13 March ’19 (CoinMarketCap)
Stellar Lumens (XLM) And Dash (DASH) On the Right Path
XLM held on to its gains over the weekend post-Börsenmedien AG announcement of purchasing a stake in SatoshiPay. Stellar Lumens’ (XLM) total market capitalization is close to the market cap of 8th and 7th ranked Binance (BNB) coin and USD Tether.
Dash Gained 11% on Wednesday with it’s increased dedication to achieve complete decentralization and autonomy. Dash had released a Trust Protector Software, and the sentiment towards it has also increased considerably after DashText introduction. DashText is set to change the remittance avenues in Latin America through its revolutionary yet straightforward platform.
Zcash, DigiByte (DGB) and Komodo (KMD) Grow on Market Sentiments
Zcash also gained 7% on the daily, taking a cue from the bullish sentiments of the market. Digibyte (DGB) is also performing well; it increased by 12% on DGB/BTC from 330 Satoshi (sats) to 371 sats on 12 March ’19. Another notable mention is of Komodo; the privacy-focused cryptocurrency has gained 28% on the daily since Tuesday,
Market Shakers Enjin (ENJ) and Groestlcoin (GRS) Takes It a Notch Down
Furthermore, Enjin (ENJ) Coin’s rise after association with Samsung had cooled down on 12th March; correction in the price was almost 17% on 12 March ’19 from 0.00005089 levels to 0.00004230. However, with consistent volume and positive market sentiments, it has recovered from the correction, trading up by 7.5% on the daily.
Groestlcoin (GRS) which was one of the highest gainers over the weekend after its announcement of ‘crypto-payment cards’ backed by MasterCard corrected heavily on Wednesday morning losing 42% from its 7-month high price of $0.749.
The post Crypto Market Update: Altcoins Markets (LTC, DASH, XLM, DGB and Zcash) Gain $2 billion as BTC Holds Stable appeared first on Coingape.
Source: CoinGape

Non-Fungible Tokens on Ethereum Will Create A Large Scale Social Impact: Vitalik Buterin

Vitalk Buterin, the prodigal Canadian-Russian Cryptographer and co-founder of Ethereum, has addressed a full room at the premium Asian Cryptocurrency Conference: #Token2049 in Hong Kong. He talked about the state of the platform and outlined the goals of the Ethereum Foundation.
The conference kickstarted on 13th March 2019 in Hong Kong. A special section has been allocated to Ethereum and Litecoin; the #ethasiasupermeet (Ethereum Asia Supermeet) and the Litecoin meetup, which will take place on 13th and 14th March 2019 respectively.

@VitalikButerin sharing an overview of the current state of the Ethereum ecosystem #ethasiasupermeetup #TOKEN2049
— TOKEN2049 (@token2049) March 13, 2019

Ethereum Updates and Important Announcements
A positive piece of news came for developers and investors as Buterin confirmed that plasma is in the test phase. Moreover, he also confirmed ‘sharding‘ adoption and announced the future implementation of Zcash’s zk-snark protocol to improve scalability on the Ethereum Platform.
Apart from the Ethereum 2.0 Road map and goals, the other focus area of the Foundation according to Buterin is Dapps. He announced plans of “large-scale on-boarding” of Dapps on Brave and Opera browsers.
Furthermore, he also talked about an open source ‘Defi‘ (Decentralized Finance) system, to promote the decentralization of our current financial system. In all probability, it will include a feasible Decentralized, open-source exchange for cryptocurrencies and other assets.
Emphasis on Non-Fungible Tokens (NFTs)
The end focus of Buterin was, however, NFT (Non-Fungible Tokens) to create applications on a “standard protocol to create a network sharing effect”. NFTs can help entrepreneurs and small business owners to create “large scale social impacts.”
Currently, their focus is on building virtual applications like financial platforms and facilitating gaming communities. He expressed a lot of enthusiasm in favor of implementation of NFTs in the e-gaming industry.
He said that gaming “enriches the like of lot of people” and it is a “place where a lot of early adopters can be expected”
He went on to implore the developers at the conference to focus on gaming Dapps and NFTs where they have a good opportunity to “create a large scale social impact.”
The post Non-Fungible Tokens on Ethereum Will Create A Large Scale Social Impact: Vitalik Buterin appeared first on Coingape.
Source: CoinGape

Zcash vulnerability could have resulted in the loss of millions of dollars

Zcash, a leading privacy cryptocurrency in the market, recently announced that they had found counterfeiting vulnerability in the “cryptography underlying some kinds of zero-knowledge proofs”. Interestingly, this vulnerability was detected by the Zcash company in March 2018, around eleven months back. This was later fixed in October 2018 during the Sapling Network upgrade.
The details of the vulnerability was not disclosed earlier because the Zcash company did not want the attackers to exploit it. Notably, in an attempt to prevent an attack from happening, three members from the Zcash community including Zooko Wilcox, the CEO of the Zcash Company, decided to delete the MCP protocol transcript, “which would allow an adversary to create false proofs” from all the platforms it would have been available to the community. It was deleted “under a coinciding operational security cover story.” Soon after this, the team decided to delete all the back-up there was of the transcript as well. The team further claimed that this transcript was hardly downloaded.
According to the official announcement, the vulnerability did not have any effect on users’ privacy and was limited only to counterfeiting. This means that an attacker could have only been able to create fake Zcash. The attacker also had an opportunity to pull this off successfully without being detected. More so, the team also revealed in the report that the counterfeit vulnerability was present in the Zcash code for several years, prior to its detection.
Despite its severity, the team claims that the vulnerability has not been previously exploited and also laid down reasons as to why it would have not been discovered by anyone in the space. The reasons laid down by the company as to why they are confident that the vulnerability was not discovered are:

Required high-level of technical and cryptographic sophistication to detect the vulnerability and according to them, only a very few people possess such high-level skills
It managed to go undetected for several years by auditors, cryptographers, scientists, and even engineering teams who launched new projects based on Zcash code
The team has not yet found any evidence pertaining to the exploitation of the vulnerability. They added that if it had occurred, it would have been detected by monitoring the total amount of Zcash held in sprout addresses
The company took “extraordinary” steps to minimize the possibility of an attack
Based on their study on the blockchain, an attack would have left a footprint and the team did not find any

However, the company did add that even though Zcash itself is in safe haven right now, there are projects that can be affected by this. This can be any project that is dependant on the “MPC ceremony used by the original sprout system that was distributed in the initial launch of Zcash.” Furthermore, the company also revealed that this was disclosed to third-party projects: Horizen [aka ZenCash] and Komodo.
The announcement read:
“We believe that the steps we have taken to mitigate the issue while working to ensure the safety of Zcash users has been successful. More information on the specific events that transpired from the initial discovery of the counterfeiting vulnerability through this disclosure will be covered in a future post.”
Peter Todd, an applied cryptography consultant said on Twitter:
“Reality is bleeding edge crypto is risky; second inflation bug they’ve had. (first being caught prior to release) BTC has categorically worse privacy than ZEC on L1, but the trade-off is a safer system re: total loss. Had this been exploited, it could have easily been a hundreds of millions of dollars loss.”
He further said:
“Zcash has gotta be the least honest competent team in crypto. Also, their story that the transcript was hardly downloaded shows how right my criticisms of the lack of auditing was: basically no one had actually checked that the ceremony was correct which they refuted multiple times. For instance the “deterministic” build broke ~1mth after.”
The post Zcash vulnerability could have resulted in the loss of millions of dollars appeared first on AMBCrypto.
Source: AMB Crypto

Why Edward Snowden Likes Zcash Despite the Controversial Founders’ Reward

Unlike many fans of cryptocurrency, Edward Snowden has no problem with the Zcash founders’ reward. The former CIA employee-turned whistle-blower Tweeted his support for the anonymity-focused digital asset earlier today.
For Snowden, the founders’ reward incentivises and funds the team behind the privacy coin to address issues with the project, such as that identified and patched by them recently. However, other cryptocurrency community members pointed out that teams working on coins that lack the controversial founders’ reward were just as adept at patching issues in their own code bases.
Snowden Praises Zcash Founders for Patching Counterfeiting Vulnerability After Years of Existence
Controversial US government secrets discloser Edward Snowden is a fan of the privacy-focused cryptocurrency Zcash. The former CIA employee does not even mind the much-debated founders’ reward included in every Zcash block mined. For many in the digital currency community, this founders’ reward is contrary to the spirit of cryptocurrency and decentralisation generally.
However, Snowden claims that such a reward is important to attract the best minds to work on the Zcash project. For him, such a consistent payment of the developers allows them to discover issues and patch them before they can be exploited by opportunistic parties.
One such vulnerability was discovered 11 months ago by Zcash developers. In a report posted to the Zcash blog today, the flaw in the code is described along with the method used to patch it.
The counterfeiting vulnerability, as the team refer to it as, was first discovered on March 1, 2018. The decision was made to keep the discovery secret to avoid the risk of attackers exploiting the flaw in the code. It has since been rectified without Zcash users needing to do anything to protect their funds.
According to the blog post:
“The flaw allows an attacker to create counterfeit shielded value in any system that depends on parameters which are generated as described by the paper.”
Zcash developers are confident that no such attacks were made on the network owing to the sophistication of the knowledge required to identify the flaw in the first place, along with the lack of a “footprint” highlighting that the vulnerability had been exploited.
For Snowden, the Zcash founders’ reward, which is 20% of each block reward earned by the network’s miners, financed the addressing of the vulnerability:

A lot of people wonder why I like #Zcash despite the Founder's Reward. Here's a reason: that tax funds a quality team that catches and kills serious bugs in-house, before they get exploited. Some other projects learn about bugs like this only AFTER people have lost money.
— Edward Snowden (@Snowden) February 5, 2019

In the above Tweet, Snowden compares Zcash to different cryptocurrency projects that do not offer such a founders’ reward. He states that other coins have only discovered bugs in the code after they were exploited, costing the projects’ users money.
However, as members of the crypto community highlighted, other projects have been just as adept at identifying vulnerabilities in the code without such a founders’ reward. Both Monero and Bitcoin were mentioned as examples of coins that do not rely on a centralised group of developers being paid out of a single purse for their work but were still driven to patch flaws in code as quickly as humanly possible. In fact, a recent Bitcoin flaw took just days to rectify following its discovery (admittedly by a Bitcoin Cash developer).

Monero has caught serious bugs before they were exploited and they have an altruistic community driven funding mechanism. Centralized money, controlled by a select few is dangerous
— wowario (@w0wari0) February 5, 2019

Interestingly, the post on the Zcash blog highlights how the vulnerability has existed in the code for years now. Going off Snowden’s logic, perhaps it would have been identified and patched even quicker if the controversial founders’ reward was even higher than 20%.
Related Reading: eToro Adds ZCash
Featured Image from Shutterstock.
The post Why Edward Snowden Likes Zcash Despite the Controversial Founders’ Reward appeared first on NewsBTC.
Source: New

ZCash Becomes the 14th Crypro Asset Added on eToro


ZCash Becomes the 14th Crypro Asset Added on eToro

eToro, the global multi-asset investment platform, is expanding the list of crypto assets available to its users. ZCash has become the 14th digital asset added.

ZCash Becomes the 14th Crypro Asset Added on eToro

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Source: CoinSpeaker