MyEtherwallet Launches a New Type of a Crypto Wallet

MyEtherwallet, the popular Ethereum and ERC-20 token wallet often referred to as MEW, has recently launched a new mobile wallet application with functionality as a hardware wallet.

The ‘no hardware hardware wallet’, dubbed MEWconnect comes with an added 2-factor transaction verification for extra security, while retaining the familiar interface.
According to the company, the wallet stores your private keys in a local and isolated vault on your device. In other words, one can use a phone as a hardware wallet and sign everything from the phone and then broadcast it on the network instead of giving a private key to the browser.

“With this application, users can now easily interact directly with MEW via their mobile phones, while still remaining in full control of their private keys and funds,” MEW’s founder and CEO Kosala Hemachandra explained.
The company believes this app “fills an important role in the current marketplace” and “will play key role in wider cryptocurrency adoption”.

However, MEW stressed that real hardware wallets are still the safest, while the new app is a free alternative to keystore files and mnemonics.

Widely considered the safest choice for storing cryptocurrencies, hardware wallets are popular among people with large cryptocurrency holdings, or for those who just want the extra security it provides. Traditional hardware wallets such as Ledger and Trezor typically sell for somewhere between USD 90 and USD 200.

MEWconnect, is already available in the Apple AppStore, while a beta version of the app for Android users can be accessed through the Hockey app center for open source applications.
However, some are still cautious towards the new product. Replying to MEW on Twitter, its user @GpWTC said that “mobile phones are not secure at all, I guess that’s a good experiment, but unfortunately you will only back off when it’s too late, like al experiments.”

According to Segasec, a cybersecurity firm, since the beginning of its task of protecting the MEW platform, it has taken down 313 active attacks, with an average of 30 to 40 per week, and these numbers are growing daily, CCN reported in September.


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Author: Fredrik Vold
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Bitcoin and Altcoins Trade in Tight Range, Prepare for Next Move

  • Bitcoin price is consolidating in a tight range below the USD 6,500 – USD 6,600 resistance.
  • Ethereum and ripple are trading in a positive zone, but both are lacking momentum.
  • VERI, RDD, NAS and ONT gained more than 15% today.LIONBIT
    This past week, there was a decent recovery in bitcoin and altcoins. BTC/USD stayed above the USD 6,250 support and it attempted an upside break above USD 6,500 – USD 6,600 on a few occasions. However, there was a no convincing break and the price started trading in a range above the USD 6,250 support. Similarly, ethereum recovered above USD 300 before sellers appeared near USD 325. Ripple spiked above the USD 0.350 resistance and bitcoin cash settled above USD 540. At the outset, bitcoin and all major altcoins are trading in tight ranges and seems to be preparing for the next move.

    Bitcoin
    Bitcoin price settled above the USD 6,250 pivot level, but it struggled to clear a strong resistance zone near USD 6,500 – USD 6,600. There were 3-4 attempts to surpass the stated resistance, but BTC/USD buyers failed to gain momentum.

    As a result, the price started trading in a range with support at USD 6,250 and resistance at USD 6,600. The price is likely to make the next move either above USD 6,600 or below USD 6,250. To the topside, above USD 6,600, the price could test the USD 7,000 and USD 7,150 resistances. On the flip side, a break and close below USD 6,250 may perhaps put buyers under a lot of pressure with the next supports at USD 6,000 and USD 5,850.

    TIP

    Ethereum
    Ethereum breached the USD 300 resistance this past week, but it failed to stay above it. ETH/USD is currently trading in a tiny range with support at USD 282 and resistance near USD 305.

    Similar to bitcoin, ethereum will make the next move either above USD 305 or below USD 282. An upside break above USD 305 could push the price towards USD 325 and USD 340. Conversely, a break below USD 282 will most likely take ETH to USD 250.

    Bitcoin cash and ripple
    Bitcoin cash price gained traction this past week and settled above USD 500 and USD 540. However, BCH/USD is facing a lot of hurdles near the USD 580 and USD 600 levels. Only a close above USD 600 could open the doors for more gains.

    Ripple price performed well and broke the USD 0.350 resistance. XRP/USD is trading above the USD 0.320 (UTC 08:20 AM) support is looks set for more gains in the coming days.

    Other altcoins market today
    Today, many small cap altcoins registered more than 10% gains, including VERI, RDD, NAS, ontology, vechain, nano, RHOC, tezos, and XZC.

    Overall, bitcoin price is preparing for the next major break this week, which could be either above USD 6,600 or below USD 6,250. If BTC/USD settles above USD 6,600, there may possibly more upsides in BTC and altcoins in the near term.



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    Author: Aayush Jindal
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Ether Emerald is a scam!

Ethereum Classic [ETC] tweeted about a trick airdrop known as Ether Emerald or Ethereum Emerald [ETE]. The Twitter record of the scammer tricked readers as it said that it is a child platform of the smart contract advancement stage of Ethereum.



Ethereum Classic had a counter-reaction to the same, as they cautioned individuals stating that Ether Emerald is not part of their team.

On 1st July, Ethereum Classic tweeted:
“Scam Airdrop – ETE #EtherEmerald is *Not* affiliated with #EthereumClassic Using @etcdev’s “Emerald Project” as their project name to confuse users – No Team/Project info – No Code – No Communication – Follower bots – Plagiarized Roadmap Use common sense. #CryptoScams #Scams”

Izuchukwu Udeh, a Twitter user commented:
“Do you actually mean that there will be no ETC Hardfork on the 13th of July, no Ethereum Emerald to be forked from ETC? And no giving of ETE 1 – 1 ETC Holders?”

Scamming users with “Giving away ETH” is not a new scam racket in the crypto-world. But as for ETE airdrops and fraudulent usage of ‘Emerald Project’ is concerned, Ethereum played its duty as they warned the users about the fake networking.

Ethereum Classic has an advanced independent development group known as ETCDEV. This group discharged Emerald Wallet v1.0.0 to the network last month. The ETCDEV group is an autonomous gathering of programming specialists and experts who handle the central undertaking of Ethereum Classic’s projects. This independent group was mimicked by the Emerald Project scammers.

The Emerald Wallet is an Ethereum Classic Wallet part of a broader project known as the Emerald Platform. ETCDEV team released Emerald Wallet v1.0.0 to the ETC community. This time last year, ETCDEV Team had released the first alpha version of the Emerald Wallet. All releases of Emerald Wallet can be located on the Github of ETC.

As of now, Ethereum Classic has not taken a legal action on the scammers. The group asks users to send ETC to an address and offers ETE in return. One of the scam accounts of Ether Emerald tweeted:
“If you want to buy ETE now:
1.send ETC to our official ETC address: 0x2147d3a60aDA55d5DE3c2d3d5De377A344c5C3Ab we will get your sending address from http://gastracker.io
2.send ETH to our official ETH address: 0xDd43903CBd9d010A5d4411B7829384103cBa7c22 #Ethereum #Emerald”


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Stanford University Launches New Blockchain Research Center

A group of crypto startups and organizations are sponsoring a new blockchain research center headquartered at Stanford University.

The Center for Blockchain Research is being led by Dan Boneh and David Mazières, two professors who have specialties in blockchain and cryptocurrencies. The research outfit plans to “develop best practices” for blockchain by bringing the university scientists and the industry’s top leaders together, according to a press release released by Stanford Engineering on June 20.

The website for the center lists the initiative’s sponsors, such as the Ethereum Foundation, Protocol Labs and the Interchain Foundation. OmiseGO, DFINITY Stiftung and Polychain Capital are also backing the research center.

Ethereum creator Vitalik Buterin, who co-founded the Ethereum Foundation, tweeted about the project on June 20.


Boneh, who is also a professor in Stanford’s School of Engineering, said of the center’s launch:
“Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.”

The center will focus on designing a blockchain curriculum for both students and working professionals – a move that’s perhaps not surprising, given reports that such classes have seen major interest at some U.S. universities.



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Bitcoin Sell-Off Caused by Futures Expiring – Tom Lee

Some of the weakness seen in bitcoin over the past week was likely caused by futures contracts reaching their expiry date, according to Tom Lee, Head of Research at Fundstrat Global Advisors.


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In a report released on Thursday, Lee blames the sell-off on “significant volatility” around futures expiry dates on the CBOE and CME futures marketplaces. He further cites a theory by Justin Saslaw, cryptoasset investor at Raptor Capital Management, that says bitcoin seems to fall as the related futures are nearing their expiry date.

“Bitcoin sees dramatic price changes around CBOE futures expirations… We compiled some of the data and this indeed seems to be true,” Lee wrote in the report.


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Furthermore, Lee explained that the inflow of new capital to the crypto market this year has been insufficient to make up for the new supply coming from initial coin offerings (ICOs), mining rewards, and outflows due to capital gains taxes.

Increased volatility in the underlying markets when futures contracts expire is a well-known phenomenon from stocks and other traditional financial markets. There have been six expirations since CBOE launched their bitcoin futures, with the most recent expiry being on Wednesday June 13.

Bitcoin has taken a strong hit this past week, trading down from about USD 7,500 last Sunday to a low of USD 6,135. On Thursday, bitcoin saw a strong rebound and is trading at around USD 6,600 at press time.



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Fredrik Vold
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