Tencent: Porn Sites Are Adopting Javascript Miner of Coinhive to Mine Monero News

Tencent: Porn Sites Are Adopting Javascript Miner of Coinhive to Mine Monero

Other than income from clicking ads, some porn site operators in China have found new ways for their wallets. Recently, a report from Tencent exposed that many websites in China have embedded JavaScript to mine crytpocurrency, or XMR to be more specific. Coinhive service is employed without notifying visitors. Once visitors access websites that are embedded with mining scripts, they will need to wait a while for loading the pages, little do they know that the auto execution of JavaScripts miner are consuming large portion of CPU usage for mining Monero, or XMR featuring anonymous transaction. Such websites are usually...
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JPMorgan: Financial Technology to be a New Pillar of Internet Commerce News

JPMorgan: Financial Technology to be a New Pillar of Internet Commerce

JPMorgan predicts that in the next three to five years, China’s financial technology industry will grow into a market of several hundred billion yuan in scale in which Internet companies will occupy major share. Therefore, JPMorgan believes that financial technology will be the next new pillar of the Internet business model besides advertising, gaming and e-commerce. The business opportunities in China’s financial technology market are substantial. According to JPMorgan’s estimation, the annual turnover of China’s financial technology market will reach about RMB460 billion by 2020, representing a CAGR of 44% increase over 2016. In comparison, financial technology companies focus on...
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The Impossible Trinity: Security, Environment Protection and Decentralization News

The Impossible Trinity: Security, Environment Protection and Decentralization

The mining of Bitcoin consumes 1,000 mWh of electricity every day, the energy which could be provided to 30 thousand families in the United States. The idea that enormous energy will be used by the Bitcoin network to simply solve mathematical questions has always been severely criticized. Satoshi remained silent on this problem, or maybe never considered it a real one. This is indeed not a problem, or supercomputers designed merely for this sake would be a reckless misuse of the electrical power needed by an electronic currency payment system, whose transaction volume exceeds that of Western Union, and would...
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EU-Backed ICO Regulation may Come Soon News

EU-Backed ICO Regulation may Come Soon

The approval of a draft proposal for a regulation of the European Parliament and of the Council on European Crowdfunding Service Providers (ECSP) for Business could see Initial Coin Offerings (ICOs) given a new lease of life across Europe. ICOs have been doing well in parts of the EU especially in countries like Switzerland and Gilbraltar. Nevertheless, if approved, the proposal put forward by a Member of the European Parliament (MEP) representing the United Kingdom, Ashley Fox, will allow for “a competitive Union framework”as it will permit crowdfunding service providers to raise capital through their platforms using certain cryptocurrencies. About 40%...
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Former Chief Engineer of SSE: CBDC Should be Programmable in the Next Decade News

Former Chief Engineer of SSE: CBDC Should be Programmable in the Next Decade

August 14, Bai Shuo, former chief engineer of Shanghai Stock Exchange (SSE) indicated that a central bank-issued digital currency (CBDC) should be programmable and a new blockchain payment ecosystem will be formed in the next decade. “What is the most important thing that will enable us to add new elements to the value transfer and trust services in the digital world of the future? It’s programmable. If one day the CBDC becomes programmable, the imaginary space in this field will be huge.” said Bai Shuo in a blockchain technology application seminar. It is generally acknowledged that Bitcoin is the first generation...
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How The Bitcoin Protocol Works News

How The Bitcoin Protocol Works

An increasing number of businesses and consumers are now considering bitcoin, a new type of currency that offers a potential global-encompassing digital payment method. With this growing acceptance, it’s important to learn the essential components of this platform designed to change how we buy and sell products and services. My own company — a time tracking and invoicing platform — is using it, and I’d like to share what we’ve learned. Personally, I find this technology beneficial, and hope that others will join the growing community. Bitcoin is one of the pioneers of the peer-to-peer electronic cash system, introducing what...
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Want a Job in Alibababa? Learn Blockchain Technology First! News

Want a Job in Alibababa? Learn Blockchain Technology First!

Blockchain becomes a hot topic these days in science and technology industry, several giants have made their voices heard. Alibababa Group, the largest e-commerce merchant in China, also shows their interest in this advanced fintech. According to a social recruitment, the technology department of Alibababa Group’s Taobao is hiring blockchain experts. Obviously, Alibaba is also stepping up their research on blockchain technology. According to the job description, the blockchain experts they are looking for should be responsible for the analysis and the design parts of blockchain business; design and develop the core function code of a blockchain system; take part in formulation of the integrated scheme of blockchain framework and the...
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CEO Who Bought Coincheck After $500 Mln Hack: Crypto is Future of Finance News

CEO Who Bought Coincheck After $500 Mln Hack: Crypto is Future of Finance

Oki Matsumoto, former Goldman Sachs executive and the CEO of Monex, who acquired major Japanese crypto exchange Japan for just over $34 million, has said in a recent interview that crypto is the future of finance. In April, Matsumoto and his team at Monex purchased Coincheck, after the exchange experienced a $500 million hacking attack in early 2018. At the time, Coincheck was criticized for its inability to recruit competent security experts and implement necessary security measures to protect user funds. In the press conference subsequent to the hack, the former executive team of Coincheck failed to acknowledge that the...
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What we learned from designing an academic certificates system on the blockchain News

What we learned from designing an academic certificates system on the blockchain

Over the past year, we have been working on a set of tools to issue, display, and verify digital credentials using the Bitcoin blockchain and the open badges specification. Today we are releasing version 1 of our code under the MIT open-source license to make it easier for others to start experimenting with similar ideas. In addition to opening up the code, we also want to share some of our thinking behind the design, as well as some of the interesting questions about managing digital reputations that we plan to continue working on. You can find links to our source...
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Zhang Shoucheng: Blockchain Consensus Reduce Entropy of Individual but Enhance That of the Entire System News

Zhang Shoucheng: Blockchain Consensus Reduce Entropy of Individual but Enhance That of the Entire System

Zhang Shoucheng, a tenured professor at Stanford University, Zhang is a fellow of the American Physical Society and a fellow of the American Academy of Arts and Sciences. a foreign academician of the Chinese Academy of Sciences, a Franklin medalist, and winner of the International Science and Technology Cooperation Award of the People’s Republic of China. He shared his thoughts on blockchain via an online course of 42zhangjing. Below is the transcript. Hello, everyone, I am very happy to have this opportunity to share with you today. I think everyone may have noticed the idea of blockchain, and I would also...
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