Roundup – 05/11/2018 – Blockchain Researchers Claim EOS is not what it Claims to be & more

Blockchain Researchers Claim EOS is not what it Claims to be

The Research and Testing Company Whiteblock Claims that EOS is not a Blockchain but a “distributed homogeneous database management system”. According to their research, it also suffers from heavy security issues and is not as efficient as it claims to be. The press realease of Whiteblock is available at prnewswire.com.

Miners Adopt Asicboost on the Bitcoin Cash Network

Asicboost is an optimized protocol that improves the performance of Asicminers. Basically, miners can use the protocol on every cryptocurrency that supports Asicminers. Bitmain has released the protocol officially on October 22nd. Asicboost sparked a lot of controversies initially as many miners suspected that such protocols were used covertly. However, since the official release miners acknowledge the update as a legitimate solution to improve the effectiveness of the network. The protocol speeds up the minings process by approximately 20 percent with the same.

Turkish Cybercrime Department Arrest 11 for Hacking Crypto Wallets

Turkish Cybercrime Department has arrested 11 suspects in connection to hacking of crypto wallets. Cryptocurrency investors whose digital wallets were hacked lost more than $80,000 as reported by one of the major Turkish newspapers. In the news article, 14 cryptocurrency investors reported to the police that their cryptocurrency wallets had been hacked and their Bitcoin transferred to other wallets without their consent. Following the complaints, Istanbul police sort the help of the Cybercrime Department who started monitoring the online activities of several groups of hackers. The hackers have being previously involved in hacking of not only cryptocurrency wallets but also email addresses and confidential passwords to private online accounts.

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Taiwan Changes Law to Crack Down on Anonymous Traders

The state of Taiwan has changed its regulation regarding the anonymous trade of cryptocurrencies. The amendment gives Taiwan’s Financial Supervisory Commission (FSC) the authority to crack down on traders that don’t comply with AML and CFT regulations. This concerns everyone that trades on one of the Taiwanese exchanges anonymously. The Taiwanese government intends to fine offenders heavily.