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In today’s news video we discuss green returning to the markets, I closed my Facebook page, the BitFi wallet is hacked but funds aren’t taken, Elix app debuts, OmiseGo gets 10k transactions per second, & the Microsoft project using the Ethereum blockchain will not use Proof of Work.

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Links
BitFi Wallet: https://www.bitguru.co.uk/crypto-news/15-year-old-kid-hacks-john-mcafees-unhackable-cryptocurrency-hardware-wallet/
Doom Tweet: https://twitter.com/AbeSnowman?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1027377982497861632&ref_url=https%3A%2F%2Fwww.bitguru.co.uk%2Fcrypto-news%2F15-year-old-kid-hacks-john-mcafees-unhackable-cryptocurrency-hardware-wallet%2F
Elix: https://medium.com/@elixirtoken/the-elix-app-is-available-on-the-apple-and-google-play-stores-b272f7f9d2c1
OMG: https://omisegọ.com/blog/
Microsoft/ETH: https://www.ccn.com/microsofts-new-ethereum-blockchain-product-gets-rid-of-mining/

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Created by Ben Armstrong & Justin Williams.

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40 COMMENTS

  1. Not a miner but I read somewhere 51% hashrate isn't that much profitable for the attacker unless he just wants to mess with the coin, then he can make a mess of the network. The pool that had 51% h probably didn't want to mess with the network and that's why it wasn't a big deal. You can't create coins out of thin air or receive others transactions even if you have 51%h, so not that profitable financially.

  2. The OMG network is a scaling solution for finance on Ethereum, enabling transparent, peer-to-peer transactions in real-time. The decentralized network facilitates self-sovereign financial services across geographies, asset classes and applications. From conception OmiseGO has been committed to delivering scalable, highly performant tools for disintermediated finance.

  3. Crowdfunding using Elix or EtherSupport for continuous products using Elix or EtherRequesting, paying back, and canceling loans using ELIXAdding and transacting with saved contacts or a one-time addressWallet and portfolio functionality for tracking Elix and EtherChat for interacting with the communityAn Activity page for viewing recent in-app activity

  4. It’s hard to imagine how a company would ask security researchers to attempt to hack the wallet, offering a $250,000 reward for anyone who can successfully pull it off, only to then threaten them with ‘consequences’ for doing so

  5. If Bitfi device is seized, lost, or stolen the funds are completely safe. User can just order a new device and continue to use their original secret phrase or use Bitfi open source resources to retrieve their private keys and access funds.

  6. The Bitfi wallet does not store the private keys to the wallet on the device itself, no and therefore cannot be hacked. Traditional cold storage methods such as paper wallets or offline computers are vulnerable to the risk of seizure or thefts. Since these methods directly store the private keys, the cryptocurrency is very vulnerable in the event of a theft.

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