As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week Markets and Prices Bitcoin News – Bitcoin News

While the crypto economy shed billions in value this week, 18 different digital assets have accrued double-digit gains during the last week. At the same time, the top two leading crypto assets by market capitalization, bitcoin and ethereum, have lost between 2.8% to 6.2% in value in seven days.

Bitcoin (BTC) and ethereum (ETH) have lost a bit of value according to weekly statistics, and a number of alternative digital assets have done a whole lot better. Today, the crypto economy is worth $2.36 trillion and it is down 2.9% during the last day. BTC has shed 2.8% in value during the last seven days, and ETH has lost 6.2% since last week. However, 18 crypto tokens have accrued double-digit gains against the U.S. dollar this past week.

For instance, Sushiswaps decentralized exchange (dex) token sushi (SUSHI) has gained 67% during the last seven days. Near (NEAR) jumped 57.8%, fantom (FTM) climbed 49.6%, and oasis network (ROSE) spiked 48% during the course of the week. Other top weekly gainers included convex finance (+35.7%), aave (+33%), theta network (+24.8%), uniswap (+19.2%), osmosis (+18.2%), kadena (+16.8%), iota (+15.8%), and the sandbox (+15%).

Cosmos, polkadot, enjin, monero, celo and curve token also saw double digit gains this week as well. Out of the $2.36 trillion in value, across more than 12,000 crypto assets, BTCs dominance is 38.3% while ethereums dominance is 19.1%. Discussing bitcoin (BTC) prices with Bitcoin.com News, the co-founder of Huobi Group, Du Jun, said that the price of bitcoin tends to stabilize and traders should pay attention to the changes in price direction.

According to data from Huobi Global, BTCs price stabilized during [the] daytime, after a sharp drop at night, fluctuating back and forth from $47,500, changing directions several times, Huobis co-founder explained to our newsdesk. From the 4h k-line, three EMA lines descended steeply, k-line was located near the lower rail of the Bollinger Bands, and the opening of the Bollinger Bands expanded significantly, Jun added. The analyst further added:

Although the decline has been blocked, the short side is still relatively strong, especially seen from the daily line. This decline has caused the BTC price to fall again at a similar rate after a one-week price increase, and there is a trend of forming a downward channel again. Short-term upside is less likely. In short term, pay attention to the changes in the price direction and the support of the $45,500 position below.

While the values of bitcoin (BTC) and ethereum (ETH) have both seen declines, numerous alternative crypto assets are gaining on the dominant crypto markets. A recently published study indicates that altcoins have surged threefold since 2014, and 2021s top ten performing crypto assets outshined BTC and ETH by a longshot in terms of gains. Despite the losses bitcoin (BTC) is still up 76.1% year-to-date (YTD) and ethereums YTD metrics indicate ether has gained 416%.

As far as ethereum (ETH) markets are concerned, Huobi Globals Du Jun said that ethereum markets were very similar to BTCs market patterns. [The] price of ETH stabilized during daytime after a sharp drop at night, oscillating slightly back and forth, changing directions several times, echoing the BTC price trend, and it is now near $3,800, Jun added on Wednesday. Juns ethereum (ETH) market outlook continued:

From the 4h k-line, the downward adjustment is strong and the momentum is relatively large. Each moving average descended steeply, and the trading volume increased. From [the] daily level, the downside trend is less obvious. In the short term, pay attention to the support of the 4680 position below. Once it breaks through, the price downward trend will be formed.

What do you think about the 18 crypto assets that have recorded double-digit gains this past week? What do you think about the two leading crypto market assets recent performance? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum Might Get Crushed Between Solana and Cardano in 2022 – Analytics Insight

Ethereum network is facing many operational challenges that put ETHER token at risk

In 2021, Ethereum has outperformed major cryptocurrencies like Bitcoin when it comes to growth. Although it is currently showing no signs of recovery from its recent crash on December 4th, cryptocurrency investors believe that Ethereum will make a far better comeback in 2022. Unfortunately, that seems very unlikely with the current deteriorating situation. The Ethereum network is facing many operational challenges that put the cryptocurrency at the risk of losing to its rivals such as Cardano and Solana.

Over the past few years, Ethereum and ETHER have become synonymous with each other. While Etheruem is the blockchain network that backs the ETHER token, people consider them both as an amazing decentralized model and a cryptocurrency. Therefore, the Ethereum networks challenges often directly reflect on ETHERs price. Ethereums connection with Bitcoin is also inevitable. Yes, ETHER price is also pegged to BTCs price rallies quite often. In a nutshell, Etheruem network and its digital token are highly influenced by the mechanism behind it and the cryptocurrencies surrounding it. However, Ethereum is having a hard time combating its technical challenges recently. This has paved the way for other potential virtual tokens like Solana and Cardano to step on their accelerator. If the challenges prevail and Ethereum fails to address them in 2022, then its competitors will take over ETHERs position real soon.

Without evaluating its capabilities, many investors are coming forward to invest in Ether tokens and institutional investors are also crowding the space. Besides, the Ethereum network also houses other applications that are relatively complex and difficult. Although its features are pretty amazing, it leaves us to the question, Can Etheruem network really handle all this? Using an open-source code with algorithms that is backed by supply and demand, the site runs many applications.

While Ethereums DeFi application is often considered a top choice, the practical numbers suggest otherwise. According to research by Dune Analytics, 2-5% of transactions on Ethereum-based decentralized exchanges failed due to complications such as slippage or insufficient gas price. Besides, the Ethereum network is also facing bumps due to its inability o scale to meet demands. Although its recent upgrade, Ethereum 2.0, is launched to address these underlying technical issues, it might take years for the platform to completely streamline the revisions.

In August, Etheruem ran into unexpected trouble when the network was split into two separate chains after falling victim to a bug in the software. Since the platform serves as a major source to develop applications like Dapps, NFTs, smart contracts, etc, it shook the users for a while. Ethereum initially panicked as it couldve been a double-spent attack that could put all its users data and billions of dollars at risk. Fortunately, the attack left most of its features unscathed. The incident brought to light that although Ethereum is fueled by amazing technology, it is relatively new and needs time to attain maturity.

Currently, Etheruem runs on a proof-of-work (PoW) system, which is capable of making 15 transactions in a second. It is double times what the Bitcoin network can do. When the number of transactions increases and the fee reduces after Etheruem 2.0 upgrade, the platform has more responsibility than ever before to make sure that the work goes seamless. Besides, building Dapps, NFTs, and smart contracts in Ethereum 2.0 is complicated as it demands more technical skills. Many users might lack sufficient education to get the best out of the platform.

As mentioned earlier, the Ethereum platform and its functionalities have a direct impact on ETHERs price. Therefore, if the network fails to address user problems, it will eventually reflect on ETHERs market presence and its stand in the market.

Solana and Cardano are two amazing Etheruem Killers that are in the line to take over its position anytime. Solana has surged more than 17,500% in 2021 alone, outperforming many other cryptocurrencies. It gives heavy competition to Ethereum over the smart contract capabilities. Solana is more quicker and efficient compared to its counterpart.

Many believe that Cardano is the direct competitor of Ethereum as the long-term project is developed by Ehtereum co-founder at its helm. Cardani is one of the few L1 blockchains that refuse to compromise their attributes in favor of scalability. Besides, its grand vision for the future keeps it at the forefront of adoption.

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Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed Technology Bitcoin News – Bitcoin News

With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, the Ethereum network implemented the London hard fork and since that day, 1,283,226 ether worth close to $5 billion has been burned.

Around four months ago, Ethereum implemented the London upgrade which added a number of new rule-sets to the chain. The most transformative included EIP-1559, an Ethereum rule-set improvement that created a new fee rate scheme allowing the network to burn a portion of ether.

The algorithm results in the base fee per gas increasing when blocks are above the gas target, and decreasing when blocks are below the gas target. The base fee per gas is burned, EIP-1559s description notes.

As of today, December 28, 2021, 1.28 million ether has been destroyed by the burn process, which equates to close to $5 billion in USD value using todays ETH/USD exchange rate. The amount of value burned to-date is 31.57% higher than what had been burned on November 24, when the burn rate crossed 1 million ether. Estimates indicate that theres 118,926,664 ether in circulation today.

The biggest burner has been the non-fungible token (NFT) marketplace Opensea as it has burned 134,126 ether worth $498 million across 9.5 million transactions. Traditional ether transfers by network participants burned 122,365 ether since August 5, which equates to $483 million using todays ETH exchange rates. The decentralized exchange (dex) Uniswap v2 has burned 112,159 ether worth $457 million.

The stablecoin tether (USDT), used on Ethereum, has burned 67,932 ether worth $268 million and Uniswap v3 has burned 42,020 ether worth $167 million. The top five ETH burners are followed by Metamask (29.2K ether burned), USDC (25.9K ether burned), Axie Infinity (16.7K ether burned), Sushiswap (15.1K ether burned), and the Opensea Registry (14.8K ether burned).

What do you think about the 1.2 million ether burned since August 5? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed Technology Bitcoin News - Bitcoin News

CCMP (cryptography) – Wikipedia

Encryption protocol for Wireless LAN

Counter Mode Cipher Block Chaining Message Authentication Code Protocol (Counter Mode CBC-MAC Protocol) or CCM mode Protocol (CCMP) is an encryption protocol designed for Wireless LAN products that implements the standards of the IEEE 802.11i amendment to the original IEEE 802.11 standard. CCMP is an enhanced data cryptographic encapsulation mechanism designed for data confidentiality and based upon the Counter Mode with CBC-MAC (CCM mode) of the Advanced Encryption Standard (AES) standard.[1] It was created to address the vulnerabilities presented by Wired Equivalent Privacy (WEP), a dated, insecure protocol.[1]

CCMP uses CCM that combines CTR mode for data confidentiality and cipher block chaining message authentication code (CBC-MAC) for authentication and integrity. CCM protects the integrity of both the MPDU data field and selected portions of the IEEE 802.11 MPDU header. CCMP is based on AES processing and uses a 128-bit key and a 128-bit block size. CCMP uses CCM with the following two parameters:

A CCMP Medium Access Control Protocol Data Unit (MPDU) comprises five sections. The first is the MAC header which contains the destination and source address of the data packet. The second is the CCMP header which is composed of 8 octets and consists of the packet number (PN), the Ext IV, and the key ID. The packet number is a 48-bit number stored across 6 octets. The PN codes are the first two and last four octets of the CCMP header and are incremented for each subsequent packet. Between the PN codes are a reserved octet and a Key ID octet. The Key ID octet contains the Ext IV (bit 5), Key ID (bits 67), and a reserved subfields (bits 04). CCMP uses these values to encrypt the data unit and the MIC. The third section is the data unit which is the data being sent in the packet. The fourth is the message integrity code (MIC) which protects the integrity and authenticity of the packet. Finally, the fifth is the frame check sequence (FCS) which is used for error detection and correction. Of these sections only the data unit and MIC are encrypted.[1]

CCMP is the standard encryption protocol for use with the Wi-Fi Protected Access II (WPA2) standard and is much more secure than the Wired Equivalent Privacy (WEP) protocol and Temporal Key Integrity Protocol (TKIP) of Wi-Fi Protected Access (WPA). CCMP provides the following security services:[2]

Because CCMP is a block cipher mode using a 128-bit key, it is secure against attacks to the 264 steps of operation. Generic meet-in-the-middle attacks do exist and can be used to limit the theoretical strength of the key to 2n2 (where n is the number of bits in the key) operations needed.[3]

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CCMP (cryptography) - Wikipedia

Cryptography Hints – University of Notre Dame

Cryptography Hints

Cryptanalysis Hints

Use these hints that the experts use along with the "Frequency Counter Software" to decipher ciphertext.

As well as the analysis of letter frequencies, other patterns can also be detected that may help to decipher a piece of ciphertext.

The following text explains some of the clues that can be used to deduce a word or a letter in a piece of ciphertext. If you scroll further down the page, you will see a list of tables that explain letter frequencies and patterns in the English language.

Identify Common Pairs Of Letters: If the ciphertext appears to encode a message in English, but the plaintext does not reveal itself immediately, which is often the case, then focus on pairs of repeated letters. In English the most common repeated letters are ss, ee, tt, ff, ll, mm and oo. If the ciphertext contains any repeated characters, you can assume that they represent one of these.

Identify The Smallest Words First: If the ciphertext contains spaces between words, then try to identify words containing just one, two or three letters. The only one-letter words in English are a and I. The most common two-letter words are of, to, in, it, is, be, as, at, so, we, he, by, or, on, do, if, me, my, up, an, go, no, us, am. The most common three-letter words are the and and.

Tailor Made Frequency Tables: If possible, tailor the table of frequencies to the message you are trying to decipher. E.g., military messages tend to omit pronouns and articles, and the loss of words such as I, he, a and they will reduce the frequency of some of the commonest letters. If you know you are tackling a military message, you should use a frequency table generated from other military messages.

Play The Guessing Game: This can be one of the most useful skills for a cryptanalyst to employ - the ability to identify words, or even entire phrases, based on experience or sheer guesswork. Al-Khalil, an early Arabian cryptanalyst, demonstrated this talent when he cracked a Greek ciphertext. He guessed that the ciphertext began with the greeting 'In the name of God'. Having established that these letters corresponded to a specific section of ciphertext, he could use them as a crowbar to prise open the rest of the ciphertext. This is known as a crib.

Letter and word frequencies have been analysed in a number of different languages. A few of the most commonly used ones are listed below, and may help you to decipher your secret messages

ENGLISH

Order Of Frequency Of Single Letters

E T A O I N S H R D L U

Order Of Frequency Of Digraphs

th er on an re he in ed nd ha at en es of or nt ea ti to it st io le is ou ar as de rt ve

Order Of Frequency Of Trigraphs

the and tha ent ion tio for nde has nce edt tis oft sth men

Order Of Frequency Of Most Common Doubles

ss ee tt ff ll mm oo

Order Of Frequency Of Initial Letters

T O A W B C D S F M R H I Y E G L N P U J K

Order Of Frequency Of Final Letters

E S T D N R Y F L O G H A K M P U W

One-Letter Words

a, I.

Most Frequent Two-Letter Words

of, to, in, it, is, be, as, at, so, we, he, by, or, on, do, if, me, my, up, an, go, no, us, am

Most Frequent Three-Letter Words

the, and, for, are, but, not, you, all, any, can, had, her, was, one, our, out, day, get, has, him, his, how, man, new, now, old, see, two, way, who, boy, did, its, let, put, say, she, too, use

Most Frequent Four-Letter Words

that, with, have, this, will, your, from, they, know, want, been, good, much, some, time

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Cryptography Hints - University of Notre Dame

All you have to know more about Cryptography and Bitcoin – Pulse Nigeria

What exactly is a cryptocurrency, how does it function, and how does it work?

Cryptocurrency is a virtual currency that operates in a decentralized ecosystem, which also means that it is not regulated by any government and issued by private enterprises. Lack of third-party intervention makes cross-border transaction easier and faster.

One can invest in different types of cryptos currently available in the market. Bitcoin, Dogecoin, Litecoin, Ripple, and NEO are the most popular. You do not need bank permission to transfer crypto between two accounts. This model has become attractive to a growing number of people willing to try crypto regardless of the outcome. Trust the official and authentic apps like Bitcoin Era for bitcoin investment and information; you will be mesmerized by the trading app features the bitcoin era.

Let us know the working of Cryptocurrency

The blockchain, the foundation of cryptocurrency, is a decentralized system. This technology involves multiple computers that handle the entire transaction in a single ledger. These transactions are impossible to change or delete, making them attractive because of security. It also uses two-factor authentication, which is always a

preferred method of conducting virtual transactions, regardless of the system.

So, if you are keen on investing in Bitcoin, or any other cryptocurrency, it is important to know about the various attributes of cryptocurrencies. These are enlisted below:

The crypto market is primarily based on speculation. As a result, any pro-crypto news can raise its value. Whereas there has been incidences that have brought down the cryptocurrency price drastically down. Crypto enthusiasts have recently noticed the negative aspects of investing in digital currencies. In the past, the crypto market has experienced declines due to the following factors:

New countries accept cryptocurrencies like bitcoin. However, such events have the power to increase or decrease the value of crypto. For example, on the first day of bitcoin's legal tender status in El Salvador, its value fell by 10%, raising concerns about how bitcoin would act as legal tender. At the same time, countries like China are taking strict measures against cryptocurrency exchanges to discourage people from investing in digital currency.

This is another factor that has influenced the value of the cryptocurrency market. Even though crypto is a secure network, hackers were able to steal $600 million in cryptocurrency last month due to a defect in the blockchain website Poly Networks. This resulted in a 2% drop in the value of bitcoin.

Cryptocurrencies are not regulated, so they are so attractive to investors. However, we have recently heard reports that various countries attempt to regulate cryptocurrency exchanges. The news of Binance being banned in the UK recently shook the market. The investigation did not yield any good results. On the similar front, since the crypto market is not under the control of any authority, in case of a fraud it would be difficult to trace the party, as they remain anonymous.

Cryptocurrency is one of the most trending and growing investment ways. But if you don't have any experience and want to know some basic and Advanced knowledge of cryptocurrency, you can trust this article.

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What is the Environmental Impact of Cryptocurrency? : – The Tico Times

Cryptocurrency is a popular phenomenon in the 21st century. Since its inception into the world as an established idea in 2009, it has become a household name in every segment of society. As we all know, the growth of Bitcoin, a type of cryptocurrency, and the rise of other competitive coins called Altcoin, have placed cryptocurrency on a pedestal where it commands more attraction.

The result of this attraction that it commands is that a troupe of people invest so much into cryptocurrency day in, day out.

Either as an investor or a trader, cryptocurrency keeps getting larger and bigger due to loads of investment each year. According to Investopedia, cryptocurrencies have become extremely popular due to the ideals of decentralization they convey, along with potentially outsized gains.

Still, their volatility remains high, and these assets carry a greater risk of losses than many traditional assets. For instance, in 2017, Bitcoin prices rose from $1000 to a high of more than $19,000 before dropping to around $3000. Then, Bitcoin again rose through the end of 2020, reaching new highs of around $60,000 before dropping again to $30,000 in the summer of 2021.

Cryptocurrencys structural decentralization is a major reason why many find it worthy of their investment, commitment, and time. What do we intend to say when we say the cryptocurrency has a decentralized structure?

We intend to say that an authority regulates it. For instance, the government does not serve as lord over transactions on the Blockchain network. In essence, cryptocurrency is a virtually established currency created to act as a means of exchange.

It uses cryptography to ensure the verification, authentication, and privacy of transactions. Because of cryptography, it is less cumbersome to encode something simple to find out with just a key. The cryptocurrency blockchain is a public ledger that has verifications from different nodes. Thus, it is uncomplicated to trace the origin of any transaction between two unknown individual accounts.

Specifically, in this article, we will be looking into the environmental impact that cryptocurrency may have or not. Undoubtedly, cryptocurrency commands a spiraling influence across diverse parts of the globe. It has hugely affected human societys technological, financial, and economic segments.

Early in the year 2011, Bitcoins value was $1. This year, it peaked at an all-time highest of an estimated $48,000. As long as this keeps on happening within the cryptocurrency orbit, there is huge potentiality that the number of investors, and traders would increase significantly in the next few years.

Nonetheless, the intimidating popularity of cryptocurrency has its boomerang or effect on climate change. Many are oblivious of the enormity of energy consumed by cryptocurrency. Advertently, it is right to say that only a few of the worlds populace know about the disastrous implication of this energy consumption on the worlds environment at large.

Cryptocurrencies are the end product of rigorous mining. What is cryptocurrency mining?

Arguably, crypto enthusiasts propose that a little above 50% of persons are aware that cryptocurrencies are generated from mining. But a good number know what crypto mining means. Nonetheless, these lots know what crypto mining means, but may not be aware that crypto mining is not just about creating new coins.

Cryptocurrency mining is the process where particularized nodes or computers verify blockchain proceedings for a peculiar cryptocoin. It also involves adjoining them to a ledger. One major functionality of crypto mining is that it helps to avoid double-spending of virtual currency on a distributed network.

As a result of the rigor of crypto mining, there is an amount of energy consumed by crypto mining. However, the high intake of energy has an awful effect on the human environment. Cryptocurrency mining requires intense energy. Most times, compared to mining for physical gold, the designed platform for cryptocurrency proof of work (PoW) requires a huge load of energy. It requires a huge amount of electricity to power hardware, which is equally expensive.

There is advocacy from cryptocurrency that showcases its advantage as a decentralized system over centralized currency systems. The blockchain web is functional regardless of the input or influence of any trusted intermediary such as the central bank. Thus, because of this decentralized systematic functionality, it utilizes a huge load of computational power to sustain and control the security of the cryptocurrency network.

According to Digiconomist, Bitcoin mining generates about 96 million tons of carbon dioxide emissions each year- equal to the amounts generated by some smaller countries. Mining for Ethereum produces more than 47 million tons of carbon dioxide emissions annually.

The excessive presence of carbon dioxide endangers the planet and other living creatures. Although it is a natural end product of life; also, it plays an important role in the growth cycle of vegetables and plants. Nonetheless, too much carbon dioxide in the atmosphere traps the heat from the sun, leading to an increase in temperatures on Earth.

Scientists claim that if humanity does not find a way to reduce its carbon dioxide output, the plant will remain endangered, with a looming uncertainty hovering over its head. If there is a charge against the excess release of carbon dioxide, then cryptocurrency faces huge problems as it is one of the worlds biggest purveyors of carbon dioxide.

A University of Cambridge analysis estimated that bitcoin mining consumes 121.36 terawatt-hours a year. It is more than the cumulative consumption of the following companies: Facebook, Microsoft, Apple, and Google. And due to the computational process behind the smooth operation of the blockchain, this energy consumption is not nosediving any time soon.

According to Cambridge University, only 39 percent of this energy comes from renewable sources, mostly from hydropower, which can have harmful impacts on ecosystems and biodiversity.

The energy required to process the decentralized system of the blockchain network is much, however it is the most secure method of preventing and type of breach or hack. Its seeming disadvantage is that if it is over utilized, it has the possibility of pushing not only Costa Rica but the world towards the brink of extinction.

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What is the Environmental Impact of Cryptocurrency? : - The Tico Times

What Is Algorand And Why Is It Known As The Ethereum Killer? – Outlook India

Last week, Algorand, a little-known cryptocurrency compared with the big names like Bitcoin and Ethereum, rose 20.76 per cent and has piqued investors interest.In the past quarter, Algorand moved up by 35.44 per cent, and in the past year 357.57 per cent, according to data fromcoinmarketcap.com on 26 December.

Most cryptocurrencies claim to have a goal and solve a problem. Algorand, too, has a goalto solve the blockchain trilemmascalability, decentralization and security.

What sets Algorand apart is its speed and advanced capabilities. Algorand is fast, low cost, decentralized, carbon negative, and has advanced smart contract capabilities. Algorand can process thousands of transactions per second with instant finality and with transaction fees of fractions of a penny. Other blockchains can be much more expensive, says Kristin Boggiano, Member of Blockchain and Crypto Assets Council (BACC) and Co-Founder and President of CrossTower, a global crypto trading platform.

Let us find out what Algorand is all about, how it is dealing with the blockchain trilemma and why its known as the Ethereum killer.

What Is Algorand?

Massachusetts Institute of Technology professor Silvio Micali, who is also a Turing award-winning computer scientist made the Algorand blockchain accessible to the general public in 2019 with a maximum supply of 10,000,000,000 Algo (its native token). Algorand Foundation is the umbrella organization, housing the core blockchain research team for cryptography and computer science led by cryptographer Tal Rabin.

Algorand serves as the infrastructure layer on which we can build crypto networks, decentralized apps (dapps) and crypto tokens. It is one of the most prominent layer 1 blockchains available in the ecosystem said Santosh Yellajosula, Member of Blockchain and Crypto Assets Council (BACC) and CEO, Xfinite, a decentralized entertainment ecosystem built on the Algorand Blockchain.

What Is Algorand Trying To Solve?

Three problems are plaguing the cryptocurrency industryscalability of the network, speed of transactions and security of the network.

Major cryptocurrencies like Bitcoin and Ethereum have been trying to solve the speed and security issue to some extent but the one thing that is still left to be addressed is the scalability of the network which is measured by transactions per second or TPS.

Algorand is a smart contract platform trying to solve the blockchain trilemma (scalability, decentralization, security) and help democratize finance, says Boggiano.

Bitcoin is the slowest in this department at just 5 TPS. The Ethereum network can do up to 13 TPS. Algorand can currently process up to 1,300 TPS and aims to process up to 3,000 TPS sometime in the future. Algorand is about to add instant finality to the blockchain, which means transactions can never be contradicted, modified, or reversed. This feature will significantly improve the scalability of the network.

Bitcoin, Ethereum and other traditional cryptocurrency networks are typically very congested. Transactions are processed slowly and are expensive to make. The Algorand network aims to solve this problem by reducing gas fees and making transactions faster, saysSharan Nair,Member of Blockchain and Crypto Assets Council (BACC) andChief Business Officer, CoinSwitch Kuber.

How Does It Work?

All cryptocurrencies work on a consensus mechanism to approve or disapprove every user-initiated transaction on its network. Legacy crypto(s) like Bitcoin and Ethereum work on a PoW (proof of work) mechanism which requires huge computing power and, hence, consumes more electricity. There is another consensus mechanism called the PoS (proof of stake), which is less power-intensive.

Ethereum is trying to move to the more energy-efficient PoS mechanism but that is not yet fully operational but Algorand and some other alternative crypto coins like Polkadot and Solana are sometimes dubbed as the Ethereum killer as they are being more cost-effective and energy-efficient than Ethereum.

Algorand works on the pure PoS mechanism. The pure PoS system which Algorand employs, randomly selects committees from the participating ALGO holders to validate and approve the next block in the chain. This randomisation is a result of a unique cryptographic tool called the VRF (Verifiable Random function) invented by Algorands founder, that seeks to solve the blockchain trilemma, says Gaurav Dahake, CEO and co-founder, Bitbns.

In Algorands blockchain network, only a select set of miners will be given a reward block of its token ALGO after they have successfully lent their computers processing power to the network. The users are picked randomly, irrespective of the size of the assets they have pledged to the blockchain, thereby maintaining a fair chance for everyone. This tweaked mechanism is what allows Algorand its incredible transaction processing speed feature.

It is a mechanism to achieve distributed consensus. Pure refers to users not having to lock up or bond their algos to participate in this process, which differs from other PoS blockchains that require stakers/validators to lock up tokens to be able to participate in validating transactions. In pure PoS, users' power is proportional to their stake and participating users are randomly selected to propose/validate blocks, says Boggiano.

How Has The Year 2021 Been For Algorand?

Algorand was selected as a strategic partner for providing network and technological ecosystem infrastructure for a $1.5 billion fund which is run by Hivemind Capital Partners. This was a significant milestone for Algorand which is trying to get more use cases of its native token ALGO.

Algorand has also launched its crypto decentralized ecosystem app protocol called Algofi, which has two main functionality services included in its ecosystemTinyman, an Algorand-based decentralized exchange (DEX), and Algomint, a digital assets minter that provides a bridge between Algorand and other blockchain networks. Algofi will also start mining its own stable coin called AlgoStable (STBL).

Our goal with Algofi is to develop projects that support real-world financial activity at scaleprojects that institutions can ultimately use, said Algofi co-founders John Clarke and Owen Colegrove, as reported by various media organisations.

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What Is Algorand And Why Is It Known As The Ethereum Killer? - Outlook India

Private lives are exposed as WikiLeaks spills its secrets …

CAIRO (AP) WikiLeaks giant data dumps have rattled the National Security Agency, the U.S. Democratic Party, and the Saudi foreign ministry. But its spectacular mass-disclosures have also included the personal information of hundreds of people including sick children, rape victims and mental health patients, The Associated Press has found.

In the past year alone, the radical transparency group has published medical files belonging to scores of ordinary citizens while many hundreds more have had sensitive family, financial or identity records posted to the web. In two particularly egregious cases, WikiLeaks named teenage rape victims. In a third case, the site published the name of a Saudi citizen arrested for being gay, an extraordinary move given that homosexuality can lead to social ostracism, a prison sentence or even death in the ultraconservative Muslim kingdom.

They published everything: my phone, address, name, details, said a Saudi man who told AP he was bewildered that WikiLeaks had revealed the details of a paternity dispute with a former partner. If the family of my wife saw this ... Publishing personal stuff like that could destroy people.

WikiLeaks mass publication of personal data is at odds with the sites claim to have championed privacy even as it laid bare the workings of international statecraft, drawing criticism from longtime allies.

Attempts to reach WikiLeaks founder Julian Assange for an interview over the past month have been unsuccessful and the ex-hacker did not reply to written questions. In a series of tweets following the publication of the APs story, WikiLeaks dismissed the privacy concerns as recycled news and said they were not even worth a headline.

Assange has been holed up for the past four years in Ecuadors embassy in London, where he sought refuge when Swedish prosecutors sought to question him over sexual assault allegations. He gave no indication Tuesday that the offending material would be taken down.

WikiLeaks purported mission is to bring censored or restricted material involving war, spying and corruption into the public eye, describing the trove amassed thus far as a giant library of the worlds most persecuted documents.

The library is growing quickly, with half a million files from the U.S. Democratic National Committee, Turkeys governing party and the Saudi Foreign Ministry added in the last year or so. But the library is also filling with rogue data, including computer viruses, spam, and a compendium of personal records.

The Saudi diplomatic cables alone hold at least 124 medical files, according to a sample analyzed by AP. Some described patients with psychiatric conditions, seriously ill children or refugees.

This has nothing to do with politics or corruption, said Dr. Nayef al-Fayez, a consultant in the Jordanian capital of Amman who confirmed that a brain cancer patient of his was among those whose details were published to the web. Dr. Adnan Salhab, a retired practitioner in Jordan who also had a patient named in the files, expressed anger when shown the document.

This is illegal what has happened, he said in a telephone interview. It is illegal!

The AP, which is withholding identifying details of most of those affected, reached 23 people most in Saudi Arabia whose personal information was exposed. Some were unaware their data had been published; WikiLeaks is censored in the country. Others shrugged at the news. Several were horrified.

One, a partially disabled Saudi woman whod secretly gone into debt to support a sick relative, said she was devastated. Shed kept her plight from members of her own family.

This is a disaster, she said in a phone call. What if my brothers, neighbors, people I know or even dont know have seen it? What is the use of publishing my story?

Medical records are widely counted among a persons most private information. But the AP found that WikiLeaks also routinely publishes identity records, phone numbers and other information easily exploited by criminals.

The DNC files published last month carried more than two dozen Social Security and credit card numbers, according to an AP analysis assisted by New Hampshire-based compliance firm DataGravity. Two of the people named in the files told AP they were targeted by identity thieves following the leak, including a retired U.S. diplomat who said he had to change his number after being bombarded by threatening messages.

The number of people affected easily reaches into the hundreds. Paul Dietrich, a transparency activist, said a partial scan of the Saudi cables alone turned up more than 500 passport, identity, academic or employment files.

The AP independently found three dozen records pertaining to family issues in the cables including messages about marriages, divorces, missing children, elopements and custody battles. Many are very personal, like the marital certificates that reveal whether the bride was a virgin. Others deal with Saudis who are deeply in debt, including one man who says his wife stole his money. One divorce document details a male partners infertility. Others identify the partners of women suffering from sexually transmitted diseases including HIV and Hepatitis C.

Lisa Lynch, who teaches media and communications at Drew University and has followed WikiLeaks for years, said Assange may not have had the staff or the resources to properly vet what he published. Or maybe he felt that the urgency of his mission trumped privacy concerns.

For him the ends justify the means, she said.

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Initially conceived as a Wikipedia-style platform for leakers, WikiLeaks initial plan was for a worldwide community of informed users to curate the material it released wholesale, according to the sites now defunct question-and-answer page. Prominent transparency advocate Steven Aftergood privately warned Assange a few days before the sites debut that the publish-everything approach was problematic.

Publication of information is not always an act of freedom, Aftergood said in an email sent in late 2006. It can also be an act of aggression or oppression.

Those concerns were heightened after WikiLeaks published a series of documents leaked by U.S. Army intelligence analyst Bradley Manning, now known as Chelsea, in 2010. The publication provided explosive evidence of human rights abuses in Iraq and Pakistani cooperation with the Taliban in Afghanistan among many other revelations but it also led to allegations that civilians in war zones had been endangered.

Assange insisted WikiLeaks had a system to keep ordinary peoples information safe.

We have a harm minimization policy, the Australian told an audience in Oxford, England in July of 2010. There are legitimate secrets. Your records with your doctor, thats a legitimate secret.

Assange initially leaned on cooperating journalists, who flagged sensitive material to WikiLeaks which then held them back for closer scrutiny. But Assange was impatient with the process, describing it as time-consuming and expensive.

We cant sit on material like this for three years with one person to go through the whole lot, line-by-line, to redact, he told Londons Frontline Club the month after his talk in Oxford. We have to take the best road that we can.

Assanges attitude has hardened since. A brief experiment with automatic redactions was aborted. The journalist-led redactions were abandoned too after Assanges relationship with the London press corps turned toxic. By 2013 WikiLeaks had written off the redaction efforts as a wrong move.

Withholding any data at all legitimizes the false propaganda of information is dangerous, the group argued on Twitter.

But some private information genuinely is dangerous, courting serious consequences for the people involved.

Three Saudi cables published by WikiLeaks identified domestic workers whod been tortured or sexually abused by their employers, giving the womens full names and passport numbers. One cable named a male teenager who was raped by a man while abroad; a second identified another male teenager who was so violently raped his legs were broken; a third outlined the details of a Saudi man detained for sexual deviation a derogatory term for homosexuality.

Scott Long, an LGBT rights activist who has worked in the Middle East, said the names of rape victims were off-limits. And he worried that releasing the names of people persecuted for their sexuality only risked magnifying the harm caused by oppressive officials.

Youre legitimizing their surveillance, not combating it, Long said.

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WikiLeaks was criticized last month after it released what it described as AKP emails, a reference to Turkeys governing Justice and Development Party, known by its Turkish acronym AKP. But dissidents excitement turned to scorn when they realized the 300,000 documents were little more than a vast collection of junk mail and petitions.

Vural Eroz, 66, was one of many people whod written to the AKP, complaining in 2013 that his car had been towed from his lawn by authorities in Istanbul. He was startled to find that WikiLeaks had published the message along with his personal number.

I would like to know for what purpose they exposed me, he said in a phone interview.

Prominent anti-censorship campaigner Yaman Akdeniz, who reviewed hundreds of messages like Erozs, said there was nothing newsworthy in any of them.

Eroz said he admired WikiLeaks for exposing wrongdoing but said, they should try to protect innocent civilians. They should screen what they leak.

Experts say WikiLeaks apparent refusal to do the most minimal screening is putting even its own readers at risk.

Vesselin Bontchev, a researcher at the Bulgarian Academy of Sciences National Laboratory of Computer Virology, said he was startled to find hundreds of pieces of malicious software in WikiLeaks dumps suggesting the site doesnt take basic steps to sanitize its publications.

Their understanding of journalism is finding an interesting document in a trash can and then dumping the can on your front door, he said.

Even Assanges biggest backers are getting uncomfortable. Journalist Glenn Greenwald, one of the sites leading allies in the media world, has distanced himself from WikiLeaks over its publication strategy. National Security Agency leaker Edward Snowden, whose asylum in Russia WikiLeaks helped broker, recently suggested the site should take more care to curate its work.

Others are disillusioned.

Dietrich, the transparency activist, said he still supported WikiLeaks in principle but had been souring on Assange and his colleagues for a while.

One of the labels that they really dont like is being called anti-privacy activists, Dietrich said in a phone interview. But if you want to live down that label, dont do stuff like this!

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Satter reported from Paris and London. Cinar Keper in Istanbul contributed to this report.

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Online:

Raphael Satter can be reached at: http://raphaelsatter.com

Maggie Michael can be reached at: https://twitter.com/mokhbersahafi

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Clinton Emails – WikiLeaks

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