An unknown miner controlled over 50% of the Bitcoin Cash network for 24 hours
Crypto community commenters reported that an unknown miner controlled more than 50% of the hash rate in the Bitcoin Cash network for 24 hours. It apparently mined 73 blocks between October 24 and 25.
The situation has been intensely commented on Twitter and Reddit, most of which believe it is a major security risk. Controlling 50% of the BCH hash rate would allow a miner to cause major damage to the network.
Perhaps the most interesting vision of this event was given by the Bitmeister editor. He argued that these are probably Bitcoin miners (BTCs) who are experimenting with the use of hash power in the BCH network. The hash rate of the Bitcoin network has exceeded 100 EH / s, while the BCH has a rate of 2.7 EH / S.
The BCH price has increased by about 15% this weekend and is around $ 265. while Bitcoin has exceeded $ 9600.
The Istanbul Ethereum upgrade, scheduled for December 4
The next Ethereum network upgrade, called Istanbul, is scheduled to take place around December 4.
The upgrade will be activated at block number 9,056,000, according to the decision taken by the network developers.
Istanbul will introduce six code changes incompatible with the existing system. The most controversial of these, known as the Ethereum Improvement Proposition (EIP) 1884, will increase the computation costs of extracting ethereum blockchain data for application developers. On the other hand, the increased taxes will better protect the $ 18 billion platform from potential DoS or spam attacks.
The other code changes introduce several price adjustments on the ethereum platform, as well as new code operations that application developers can use to more quickly check and authenticate blockchain data.
OKEx joins Klaytn
OKEx Exchange has announced it has joined the Klaytn blockchain project developed by a subsidiary of Kakao Corporation.
Klaytn is a service-centric blockchain platform that combines the features of public and private chains into an efficient hybrid structure.
Other Klaytn partners include Samsung Blockchain, three LG subsidiaries, Shinhan Bank and most recently the Binance exchange.
Kakao Corporation is one of the largest internet companies in South Korea. Its KakaoTalk mobile instant messaging app has over 220 million registered users.
Bitfinex claims to be a victim of Crypto Capital fraud
Bitfinex’s parent company claimed that Crypto Capital is responsible for losing $ 850 million of customer funds. As a result of this loss, the company was forced to create the LEO token to cover the loss.
In its statement, Bitfinex also claims that they are victims of fraud and will cooperate with authorities in this capacity. There are concerns that Crypto Capital would have stolen money from drug trafficking through the Bitfinex platform.
President Crypto Capital was arrested in Poland this week. He is suspected of stealing money from drug trafficking for several years. The business model of the company was based on providing financial services for cryptocurrency exchanges. Their client list includes major platforms such as Bitfinex, Binance, Kraken and many more.
Crypto Capital’s bank accounts were frozen in the investigation, but they only contain $ 350 million. The investigation is still ongoing.
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