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Tag: Blockchain

Hackers hijack Ethereum Classic blockchain in rare '51% attack'

Hackers hijack Ethereum Classic blockchain in rare '51% attack'

Technology
Unknown hackers may have successfully hijacked the Ethereum Classic blockchain through a rare so-called "51% attack". Cryptocurrency exchanges including Coinbase have frozen trading of the token amid fears that the exceptionally rare blockchain attack has been executed.According to Coinbase, the reorganisation of the blockchain has led to the attacker taking control of tokens worth almost £400,000.Dr Patrick McCorry, assistant professor of computer science at King's College London, told Sky News it was important to distinguish Ethereum - the second-largest cryptocurrency behind Bitcoin - and Ethereum Classic, which is in the top 20 and split from Ethereum in 2015."The underlying technology of a cryptocurrency, the blockchain, is responsible for recording all transactio...
Apple and Tesla shares on the blockchain could be the next big thing in crypto

Apple and Tesla shares on the blockchain could be the next big thing in crypto

Finance
Cryptocurrencies had a wild 2018, tumbling well below some of the record highs seen toward the end of 2017. Bitcoin, once worth almost $ 20,000, plunged last year, closing out 2018 at a price below $ 4,000. Other major virtual currencies, including XRP and ether, also fell steeply. Analysts and executives in the industry are increasingly pointing to a fairly new development that could reinvigorate the space: putting securities like stocks and bonds on the blockchain. So-called security tokens are becoming a new buzzword in crypto. The term is part of ...
The World Bank is preparing for the world's first blockchain bond

The World Bank is preparing for the world's first blockchain bond

Finance
The World Bank has mandated Commonwealth Bank of Australia to arrange the world's first blockchain bond. The Kangaroo bond, referring to foreign bonds issued in Australia in the local currency, has been named bond-i, an acronym standing for Blockchain Offered New Debt Instrument. (It's also a reference to Bondi Beach, an iconic spot in Sydney.) According to the institution, the bond will be the first in the world to be created, allocated, transferred and managed with blockchain technology. That tech, which underpins cryptocurrencies like bitcoin, refers to the distributed ledger technology that securely records all transactio...
Apple co-founder Steve Wozniak says the hype around blockchain signals a bubble

Apple co-founder Steve Wozniak says the hype around blockchain signals a bubble

Finance
Apple co-founder and noted bitcoin bull Steve Wozniak says the hype around blockchain is similar to what he saw in the dotcom era, with companies going belly-up at a rapid rate. “It was a bubble, and I feel that way about blockchain,” Wozniak said Tuesday on stage at the NEX technology conference in New York. A good portion of the companies promising to do life-changing things on the internet quickly went bust, Wozniak reminded the audience. Still, he said blockchain technology has real implementation potential, because it’s “decentralized a...