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Monero adds new ‘private’ feature to its crypto wallet

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Monero is one of the most private altcoins.

Monero has added some new features to its crypto wallet. Monero launched its crypto wallet last month and as expected offered many interesting features. Looks like the users are in for another ride as Monero expanded on its lists of improvements today.

There are four new additions with regard to the new features. These moves are aimed at improving its standing in the crypto wallet businesses.

Firstly, the Monero has expanded on its language front and is offering its services now in 10 languages. This will enable the Monero wallet to target wider audiences in the long run and also provide access to more people.

Secondly, Monero has improved on the security front. The storage of the private keys of a crypto wallet is quite a task. Monero offers a new feature called Cold Storage. The majority of the assets (keys) would be stored in an offline cold storage. At the time of the transactions, the address will be blurred to maintain the privacy of the users. This way the transaction will be on a more secure footing.

Thirdly, Monero has improves its synchronization function. It means that the Monero wallet can be downloaded, installed and synched with a computer or laptop in a very short amount of time. It usually takes hours to sync up one’s wallet with the blockchain. But Monero has decided to allow the wallet to have synched with blockchain even before the installation itself.

Fourthly, it has also offered the instant freezing of the account feature. This proves very helpful when one has lost the devices or is working from different devices in the first place. It allows the access to one’s wallet from different sources.

Monero is 12th largest cryptocurrency in circulation by volume. Monero is considered one of the most privacy oriented altcoin. This has made it the target of the Interpol alongwith Zcash in the past. Monero was de-platformed many times for this very reason.

Disclaimer: This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency. If you have any breaking news or article send it to our journalists. Contact us at news@koinalert.com

Shubham Dwivedi is an ardent crypto enthusiast, gamer, fanatic binge watcher, and researcher. He writes frequently on the blockchain, crypto market, and ICOs. Self-proclaimed Libertarian and fan of Milton Freidman, his interests lie in the intersection of technology, economics, and politics. DC Fan but also loves Marvel, Manga Otaku, promiscuous reader and habitual cinephile.

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Brewing Turf War at Universities over control of crypto classes and expertise

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The real question is who has the true authoritative expertise over the subject matter.

Who can teach a course related to Blockchain and cryptocurrency? A law professor can but why not a finance professor. Computer Science alums will have better understanding of the technological aspects of the crypto and Blockchain creation.

But an account or economics alum can also have a useful insights when it comes to the unique way the macroeconomics is being transformed. This is the new situation that is arising out of the necessity of offering a Blockchain and crypto related courses in the reputed institutes all around the world.

We have covered some stories earlier about the increase in the demands of these courses on the mainstream campuses all around the world. American institutions from Chicago to Stanford are up for the challenge.

Oxford and Cambridge are ready to offer these courses from this fall. Even the universities in South America from Argentina to Brazil are interested. The cherry on the cake is the approval of a recent crypto course from Pyongyang University in North Korea.

All these institutions are in the marketplace of ideas. They are competing in a sense and thee demand from the students for these courses are growing day by day. But with the demand, there is a unique problem that is lurking which has no precedent in the history of academia. Who will decide who has the right capabilities to teach Blockchain and crypto to its full extent?

The subject matter is so eclectic that it overlaps almost a dozen disciplines. So there is a dear now that this will most probably trigger a turf war among the various departments of these universities. The fight is not only about the expertise. As the old cliché goes, “follow the money” epithet has also a unique role here.

The universities all over the world are facing a funding churn. Given the innovative and entrepreneurial nature of the subject, the companies are now investing in these projects. The University of Texas Austin recently got two million dollars from Ripple. They have also made donations to Ivy League institutions to encourage Blockchain innovation.

Thus, it is only natural that all the departments’ want some part of the pie here. This turf war is going to get uglier in the future if a consensus is not reached. But like the crypto market regulation, it is really akin to nailing a jelly on the wall. No one authority can impose its decision on all these fronts. The future sounds so interesting right now.

Disclaimer: This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency. If you have any breaking news or article send it to our journalists. Contact us at news@koinalert.com
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Peter Thiel, Coinbase and 40 others invest in stablecoin project called Reserve

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Silicon valley heavy hitter Peter Thiel have backed Project Reserve.

There is a new project which aimed at creation of stabilized cryptocurrency. The objective is to create an entity that functions like normal money. The interesting aspect is that the project has already raised five million USD in its beginning. The project is named as ‘Reserve’.

This project is trying to create this crypto by entangling other crypto assets in a smart contract in the process to provide backing to the Reserve toke. This will stabilize the prices of the coin.

The Reserve’s co-founder named Nevin Freeman said that the decision of keeping the seed funding small was intentional. The focus of the seed funding was not amassing huge capital although that will come later. The company was looking for partnership building processes and networking ambitions.

And boy did they succeeded in their efforts. Some of the biggest name in the crypto community and Silicon Valley have invested in their project. Since the last report, it has the backing of heavy hitters like Peter Thiel, Coinbase, GSR.IO and Distributed Global.

Aside from these backers, they have the involvement of almost forty other partners. All for the purpose of creating a cryptocurrency that will finally act like normal money.

Nevin Freeman and Project ‘Reserve’

Freeman was very clear that their project is very different from the other games in crypto town. He said in his interview to the Cointelegraph, “The key piece of the Reserve approach is to use crypto assets from outside of our own ecosystem to maintain a peg, especially at the start. The problem with supporting a peg via crypto assets that are all within a stablecoin’s smart contracts is that loss in confidence in that particular stablecoin can spiral out of control. We’ve worked hard to make that as unlikely as we can.”

Freeman further commented, “Put simply: nobody wants to spend a token that may be worth twice as much next month to buy a carton of milk, and nobody wants to store their savings in a token that may be worth nothing in a year”.

Fixing the ‘Crypto Volatility’

The problem with the cryptocurrencies right now is their volatility. They have the potential to insulate the citizens from the disastrous governmental policies but decentralization also creates volatility.

This is the problem with the current crypto market that the Reserve project is trying to fix. The implication for their successes can be huge. They can improve the life of countless individuals in developing countries whose currencies are mired with disastrous governmental policies.

They are clearly in the process of making valuable allies. Their networking efforts seems to be imitating the creation of supporting web of relationships that Ann Marie Slaughter describes in utility of networks. They have created an advisory relationship with former SEC head. They are hitting every necessary buttons right.

Disclaimer: This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency. If you have any breaking news or article send it to our journalists. Contact us at news@koinalert.com
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Korean ministry is launching an investigations into Bithumb hack

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South korean based Bithumb is world's sixth largest cryptocurrency exchange.

The Bithumb recent hack has rattled not only the crypto community but also Korean government. South Koreans have their fair share of problems when it comes to government attitude on cryptocurrencies. The whole insider trading scandal began in South Korea and governmental regulations crashed Ripple’s prices earlier this year.

The recent hack into the world’s sixth largest crypto exchange has led to theft of nearly 30 mil USD. Now the reports are surfacing in local Korean media that the Korean ministry of Science and Technology is preparing to launch an investigation into the hack.

The hack have significant implication as it has forced the Bithumb’s hands. They were reluctant but have to shut down all the deposits and withdrawal activities to measure the extent of the hack. The representatives of the Bithumb are ready to compensate for the hack.

They said, “We checked that some of valued cryptocurrencies about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.”

The arrival of news prompted the Korean Internet and Security Agency [KISA] which falls under the Ministry of Science to respond. They are now in cooperation with the Seoul police and other agencies investigating the causes of these recent hacks.

The ministry has already declared that the crypto exchanges in Korea are plagued with security problems. The ministry already has checked their security architecture or at least of twenty one of them since January 2018.

These security loopholes includes inadequate cryptographic keys, problematic password management, insufficient network isolation and absence of monitoring systems. Almost twelve of these exchange lacked any significant security systems.

The South Korean exchanges are quite favorite on the list of the hackers nowadays. They have already targeted Coinrail last month and get away with almost 37 mil USD. The NEM was also hacked and almost thirty millions were stolen previously.

The Ministry have suggested several countermeasures but they have not been implemented by the crypto exchanges across Korea. The ministry has reiterated its promise to crack down on hacking activities. It is planning to monitor the weak security of the twenty something crypto exchanges and warn them to improve them by the September.

Disclaimer: This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency. If you have any breaking news or article send it to our journalists. Contact us at news@koinalert.com
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