Top 5 Crypto Performers Overview: Tron, Litecoin, Binance Coin, Dash, Monero

Jeff Schumacher, founder of BCG Digital Ventures, told CNBC during a panel discussion in Davos, Switzerland that Bitcoin will go to zero. In another interview with Fox Business, Fundstrat Global Managing Partner Thomas Lee said that Bitcoin can still go to $25,000, which he calls its fair value.

Analysts at JPMorgan Chase have predicted that Bitcoin is likely to plunge to $2,400 and eventually further to $1,260. Such differing opinions can confuse new investors who are looking to enter the crypto markets.

We believe that traders should focus on the fundamental developments in the crypto space, as well as on the price action on the charts. Cryptocurrencies as an asset class are here to stay.

Numerous blockchain projects are securing funding from traditional investors every month, which confirms that those investors are confident in the long-term promise of crypto. Crypto companies are introducing new products to attract institutional investors.

Moreover, efforts are in progress to integrate cryptocurrencies into the mainstream economy. It is only a matter of time before the bear market ends and a new bull phase begins.

However, this time, we don’t expect a vertical rise as seen in 2017. It will likely be a more gradual movement higher. A few of the top cryptocurrencies are showing signs of bottoming out. Let’s see if any of the top performers of this week qualify as a buy.

TRX/USD

Tron (TRX) was the best performing cryptocurrency among the largest coins by market cap over the past week. In its weekly report, Tron said that it has over “150 DApps and more than 300 smart contracts.”

At the recent niTron Summit, Tron founder and CEO Justin Sun said that he expects the number of decentralized applications (DApps) on the network to surge to 2,000 by the year-end.

TRX/USD

The TRX/USD pair is showing strength as the bulls are attempting to sustain above the overhead resistance at $0.02815521. As the cryptocurrency has been stuck in this range since mid-August, we believe that a breakout will result in a new uptrend.

The immediate target objective is $0.4, but we expect this to be crossed and the rally to extend to $0.05218328. Therefore, we suggest long positions on a close (UTC time frame) above $0.02815521, with a stop loss just below $0.021.

Conversely, if the cryptocurrency fails to sustain the breakout and drops below $0.02815521 once again, it will remain range bound between $0.0183 and $0.02815521. The sentiment will weaken if the bears push the price below the support of $0.0183.

LTC/USD

Litecoin (LTC) has come up with a new tagline “Take control of your money and pay with Litecoin” and a new logo. The logo was first showcased during a UFC event sponsored by the company and was widely appreciated. Will the new vision help change the fortunes for the struggling cryptocurrency? Let’s find out.

LTC/USD

The LTC/USD pair is attempting to put a bottom in place. After the initial pullback from the low of $23.090, the bulls have held the support at $29.349 for the past five weeks. This increases the probability of this level being a higher low. We will get a confirmation if the price breaks out of the downtrend line and the previous swing high of $40.784.

Long-term investors can expect the cryptocurrency to start a new uptrend if the price sustains above $40.784. There is a minor resistance at $47.246, above which the move can extend to $65.561.

Our bullish view will be invalidated if the bears defend the overhead resistance of the downtrend line, or the $40.784 mark. In such a case, the price will remain range bound between $29.349 and $40.784 for a few more weeks, before breaking out or breaking down from it.

BNB/USD

Binance Coin (BNB) has made giant strides in the past few weeks and is now ranking 12th largest coin by market capitalization. Binance has become the latest exchange to offer a crypto-to-crypto over-the-counter (OTC) trading desk to benefit from the surge in OTC trading.

The company has rebranded its Trust Wallet as a multi cryptocurrency wallet, adding support to a larger number of blockchains and has improved its various features. Binance Charity has announced a Lunch for Children program that will help provide lunch to disadvantaged children in developing countries in Africa and elsewhere. Can BNB’s recovery continue or will it falter? Let’s see.

BNB/USD

The BNB/USD pair has reached the resistance line of the descending channel. The 20-week EMA is also placed just above the channel. Therefore, we anticipate a strong resistance in the zone of $7.17–$7.7.

A breakout and close (UTC time frame) above this zone is likely to signal a trend reversal. The upside target is $12 and if that is crossed, the move can extend to $15. We retain the buy proposed in the previous weekly analysis.

If the position gets filled, we suggest traders book partial profits at resistance levels and raise the stops on the remaining amount. After all, the sentiment of the broader crypto market is still negative, so it is better to pocket small profits while one can, instead of waiting for a home run.

Our bullish assumption will be invalidated if the price reverses direction from the current levels. The downtrend will resume if the bears sink the coin below $4.1723848.

DASH/USD

Dash recently released version 0.13 of its build, and 47 percent of masternodes have already transitioned to it. The cryptocurrency is already quite popular in Venezuela with over 2,600 merchants accepting it.

We expect the latest political crisis in Venezuela to attract more people to Dash, and this will highlight the importance of cryptocurrencies during times of unrest and crisis. Anypay and eGifter have partnered with coin, allowing customers to turn their DASH into eGift cards without converting to fiat. Can these fundamental factors propel the price? Let’s find out.

DASH/USD

The long-term trend in the DASH/USD pair is still down. The bulls are attempting to form a higher low around $67. However, both moving averages are trending down, and the RSI is also close to the oversold levels. This shows that the sellers currently have the upper hand. If the bears sink the cryptocurrency below $56.214, the downtrend will resume.

The pair will show signs of strength if it breaks out of the overhead resistance zone of $103–$123. If that happens, a rally to $175 and above it to $224 will be probable. Another possibility is that the bears defend the immediate resistance at $103.261, resulting in a consolidation.

XMR/USD

Monero (XMR) managed to end the week with minor gains even though it was in the news for the wrong reasons. A study published by academics from Spain and the UK has highlighted that about 4.3 percent of Monero’s total supply was mined illegally.

The crypto exchange Gemini chose to list Dash instead of Monero because its founders, the Winklevoss Twins believe that the regulators would be more favorable to Dash. When the price doesn’t fall even amidst adverse news, it is usually a positive sign. So, is it a good time to buy? Let’s find out.

XMR/USD

The XMR/USD pair has been consolidating in a tight range of $38.5–$60.147 for the past eight weeks. A breakdown of the range will resume the downtrend and can push it towards the next support at $28.

On the other hand, a break out of the range can propel the cryptocurrency to the overhead resistance at $81. The downsloping 20-week EMA is located just below this level. Hence, we anticipate a strong resistance at $75–$81.

As the price is currently trading close to the yearly low, we are not suggesting any trades. We might suggest long positions if the pair sustains above $81.


Source
Author: Rakesh Upadhyay
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Can Homeland Security See Your Fiat Transfers? Probably.

Is it really a surprise that America’s security detail can see your crypto-fiat transfers?

An official from U.S. Homeland Security has claimed that the authorities can trace every crypto to fiat currency conversion. Is that really a surprise in the modern age of surveillance?

He was talking about international drug dealers bringing vast quantities of Fentanyl into the US to sell on the Dark Web, but the inference is clear: Big Brother is watching the crypto market and the days of anonymity and free money are coming to an end.

Matthew Allen, Assistant Director of Domestic Operations with Homeland Security Investigations, appeared before the US Senate on October 3rd to discuss cryptocurrencies and how they are being used and abused by drug traffickers.

He said: “On dark net marketplaces and other ‘unindexed’ websites, purchases are often paid for with cryptocurrencies such as Bitcoin and Monero, among many others.”

Monero and Litecoin are both big players on the Dark Web and some criminals actively avoid Bitcoin due to personal security concerns. At some point, though, the money has to come out of the crypto sphere and into the real world.

Allen claimed that the on- and off-ramps to the cryptocurrency world are the best spots to apprehend wrongdoers. “Whenever monetary exchanges are made, a vulnerability is created,” he went on to say. “This is the time when criminals are most susceptible to identification by law enforcement.”

Allen continued with “Utilizing traditional investigative methods such as surveillance, undercover operations, and confidential informants, coupled with financial and block-chain analysis, ICEHSI is able to disrupt the criminals and dismantle the TCOs, [transnational criminal organizations] as well as the cryptocurrency exchangers who typically launder proceeds for criminal networks engaged in or supporting dark net marketplaces.”

After localbitcoins was mentioned by name:

“Targeting these illicit P2P exchangers helps to pull back the veil of pseudo-anonymity provided by virtual currencies. Through interviews and suspect cooperation, along with forensic analysis of computers, mobile phones, and other seized electronics, as well as the use of advanced blockchain tracing tools, ICE-HSI can identify other criminals using virtual currency to fund and further their illicit activities.”

The IRS is Coming

The main takeaway is that there is a way for the government’s prying eyes to get into your crypto trades. The IRS has already sued Coinbase for full details of its users and it’s clear that cryptocurrency taxes are a fact of life already.

Allen was speaking of more nefarious users, but blockchain analysis, powered by AI, could turn the IRS into a bloodhound for every stray dollar. If that happens, it will be easier to report our income in real time, on an IRS-linked blockchain system.

The window of opportunity for under-the-counter earnings in cryptocurrency is closing fast, and the very tools that helped people get rich anonymously will eventually shut tax evasion down.

Blockchain is in Government’s Future

Blockchain technology is finding a foothold in government departments all around the world and income tax is basically tailor-made for the blockchain. It’s a vast number of numbers and files that can be broken down into individual digital ledgers. AI can calculate everybody’s taxes as they go, identify issues ahead of time and give you a simple roadmap for your finances.

When technology gets to that stage, it will likely be plugged into your bank account and cryptocurrency exchanges. It will do the math for you, but it won’t miss a single cent. It will be a simpler system, and could make it more difficult for criminals, secret crypto traders and tax evaders alike.


Source
Author: Nick Hall
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Privacy Coins Surge Again, a Possible Leading Indicator for the Crypto Market

Privacy cryptocurrencies are up big over the last 24 hours, led by Monero and Komodo.

Privacy cryptocurrencies have been on a tear over the past week, with the AltDex Privacy Coin Index (ALTPRV) up over 20%.

Things seem to be heating up once again, as the index is up nearly 10% in a matter of hours. This bullish price action is being led by several coins, including Komodo (KMD), Monero (XMR) and Verge (XVG).

The recent uptick is significant, as the broader market has yet to fully join the digital asset class in another major bullish move. The AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is currently up only 0.18% as Bitcoin tries to break through $7,250.

Given the current price action, a surge of buying when the U.S. market returns from the long weekend holiday could help push Bitcoin to new monthly highs and the recent price action with privacy coins could be a leading indicator of investor sentiment.

A similar situation happened on August 26 when the AltDex Masternode Index (ALTMSN), which tracks major masternode cryptocurrencies, jumped nearly 30% prior to a broader market run-up that saw Bitcoin move from $6,700 to nearly $7,100.

Source
Author CRAIG RUSSO 
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Monero Headed to $18k, Ripple Price Primed for 97% Crash: Research

Anonymity-centric cryptocurrency monero may be the best buy in crypto right now, and bitcoin’s not far behind. The ripple price (XRP), on the other hand, could be primed for a historic crash.

LIONBIT

Bitcoin, Monero Have Bright Futures

That’s according to a new report from initial coin offering advisory and research firm Satis Group, which attempts to forecast what shape the cryptocurrency market will take over the next decade.

The real winner from the analysis is monero, currently the 11th-largest cryptocurrency, which Satis predicts could be worth $18,000 within the next five years. That represents a more than 18,200 percent increase from its present value, which stands at just over $98.

That bullish XMR forecast largely stems from the firm’s expectation that 90 percent or more of cryptoasset valuations over the next decade will be linked, not to decentralized applications (dApps) or other exciting use cases, but to penetration into the offshore deposits market. As a cryptocurrency that is not only uncensorable but also helps users obfuscate transaction data, monero stands to be one of the decade’s top gainers.

Source: Satis Group

Unsurprisingly, then, bitcoin also ranks among Satis’ highest-upside cryptoassets, with the firm predicting that the “digital gold” will eclipse the $96,000 mark in five years. This would give the flagship cryptocurrency a market cap well north of $1.5 trillion, enabling it to cement its dominant market position.

From the report:

“Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”

TIP

Other large-cap cryptocurrencies that are expected to appreciate against the dollar over the next decade include ethereum, litecoin, and dash, though all of these coins will see their market share crater compared to BTC and XMR.

Ripple Price Eyes Crash Toward $0.01

Even so, Satis believes they will fare far better than their other large-cap peers, who, aside from bitcoin and monero, will outright implode.

The analysts predict that XRP, which once traded as high as $3.84 and is now valued at $0.33, will crash another 97 percent over the next five years, ultimately declining to penny parity. Cardano will face a similar fate, plunging by 99 percent to just $0.001, as will stellar, which has a 91 percent drop-off on the horizon. Bitcoin cash and EOS also have bearish forecasts, and while their declines will not be quite so severe, it’s unlikely that at these valuations they will be used for anything beyond day trading and speculation.

Commenting on this controversial outlook, the report concludes:

“Within the currency networks, we continue to see…meaningful downside from networks that have inherited brand recognition and potentially short-lived adoption during hiccups from their fork-parent (such as BCH), and very little value in networks that are misleadingly marketed and not even required for use within their own network (such as XRP).”


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: Josiah Wilmoth
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Peoples Token

Monero (XMR) Exhibits Bullish Pressure Mid-Term

Monero [XMR] is still in the range of the mid-term outlook. The formation of bullish candles and dojis are indicating signs that the bullish momentum within the range may be seen in the mid-term. The digital currency traded as high as $102 in the demand zone and lost traction.

LIONBITThe bears later returned and pushed the value of the con down to $96 in the demand zone. The stochastic is presently in the oversold territory at 24 percent and its signal points are heading north, and this indicates an upside trend in the value of the coin as the bullish traction increases in the range. The digital currency is trading between $92 on the lower demand zone and $104 in the upper supply zone.

Monero (XMR) Price Today – XMR / USD

Name Price 24H (%)
Bitcoin (BTC)
$6,116.92
-5.53%
Monero (XMR)
$89.38
-9.34%

 

At the time of writing, Monero [XMR] is trading at $96.6 after a decrease of about 1 percent over the past twenty-four hours. The digital currency currently boasts of a market cap of $1.60 billion and a trading volume of $22.63 million over the past twenty-four hours.

TIPMonero [XMR] Short-Term Trend

The digital currency is still in consolidation in the near-term outlook. The bullish momentum was sustained and the coin traded as high as $103 in the supply zone. The digital currency made an attempt to surge higher, but it was caped on the upside at the 50-day exponential moving average.

The bears later took over the market and the value of the digital currency declined to the $96 mark in the demand zone below the 10-Day exponential moving average irrespective of a one-hour bullish opening candle.

In the short-term, the digital currency is still trading between $93 in the lower demand zone and $102 in the upper supply zone of the range. The digital currency is currently trading below its previous support zone at $100 mark, and it needs enough bullish momentum to surpass that level.


WMPROHere 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 Uma Johnson
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DD Telegram

 

Monero [XMR] mining malware hijacks Brazil: Claims 200,000 victims

On the 3rd of August, a group of Brazilian systems were infected by a malicious software that targets a specific brand of routers for its activities. This was discovered by, Simon Kenin, a TrustWave researcher who said that the router MicroTik is being targeted and over 200,000 routers were secretly programmed for mining Monero [XMR] across the country.

LIONBIT

The cybercriminals were able to hack their way into the system using a malevolent code that covertly runs coinhive in the backend. In the case of Monero, it uses CPUs and coinhive, a very well-known Monero mining script, it is globally utilized to mine coins. This also makes it easier to hack systems.

Sources from Forbes state that this was possible due to a small microchip located inside the router that is similar to that of any hand-held device. This Microchip is not very strong but is still capable of doing more than just connecting a user to the web or enabling WiFi services.

Furthermore, although mining activities do not pose a threat to crypto-users or their accounts, it can seriously degrade a computer and significantly reduce the speed at which a system works. In addition, the risk is greater for handheld devices as it can cause the device to overheat up to a point where it can melt.

Although a patch for this threat was provided by the manufacturer in April, many routers were not updated.
In his analysis, he said:
“Let me emphasize how bad this attack is, there are hundreds of thousands of these devices around the globe, in use by ISPs and different organizations and businesses, each device serves at least tens if not hundreds of users daily.”

Simon states that mining has become a trend in the crypto world and now it appears that using scripts like coinhive have become the latest trend.

He further adds:
“Miners, on the other hand, can be a lot more stealthy, so while a single computer would yield more money from ransomware if the user ends up paying, an attacker would prefer to run a stealthy miner for a longer period of time. The plan being that at some point the mining would be as profitable as, if not more than, the one-time ransom payout.”


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: Gautham Kadri
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Monero (XMR) Poised For A Big Run Up By End Of The Year

Monero (XMR) was once one of the few cryptocurrencies in existence but with the inception of lucrative altcoins, Monero (XMR) quickly became a forgotten coin to many. That is not to say that Monero (XMR) lost its purpose but other shinier projects like Verge (XVG) pulled in privacy enthusiasts from Monero (XMR)’s league. The chart above for XMR/USD shows that Monero (XMR) has performed well against USD for the most part, even after the correction.

LIONBIT

The reason for that is, that unlike coins like Ripple (XRP) or Cardano (ADA), people don’t buy Monero (XMR) just to make a quick buck.

Monero (XMR) has served an important function as a premier privacy coin and continues to attract privacy enthusiasts as being one of the best privacy projects out there. This is also why Monero (XMR) has performed in a very stable pattern over the past year and a half.

Currently, Monero (XMR) has reached oversold levels on RSI whereas MACD conditions show that Monero (XMR) is unlikely to go down for long. Technical conditions for Monero (XMR) indicate that the price is likely to reverse in the month of August. It is also expected that the reversal will be an aggressive one and there is a high probability that Monero (XMR) will mark a new high for the year. RSI conditions for Monero (XMR) show that the price has reached a critical point where it is expected to do one of two things: it must either break below the RSI triangle and enter into a long term bear market, or break above the triangle and begin a rally towards new highs.

AVINOC

Monero (XMR) has also reached the end of its correction against Bitcoin (BTC) as can be seen on the XMR/BTC chart above. RSI and MACD condition for the chart above point to a rally by mid August. That rally will reverse this trend and begin a new cycle, as Monero (XMR) continues to trend in an ascending channel against Bitcoin (BTC). The future prospects of Monero (XMR) seem brighter than ever as people across the globe seem to be more concerned about the privacy of their financial transactions than before. People are starting to realize that they now have options to protect their identity and privacy whenever they want to.

If someone does not want their credit card company knowing about their visits to a doctor or what they are buying online, they can use Monero (XMR) to protect their privacy and identity. Monero (XMR) has been criticized in the past for being the gateway cryptocurrency that people use to buy drugs and other illegal items on the dark web. However, most of those dark web sites have now been taken down by law enforcement agencies. Monero (XMR) will continue to have its significance as long as it is the only secure and trusted privacy coin in the market as most large corporations would not be comfortable with having their transactional data printed on a blockchain that everyone can see.


WMPRO

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 Fakhan
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Monero-Style Privacy Is Ready for Ethereum – Who Will Implement It?

What if ethereum looked more like monero?

Fusing the privacy features of the latter into ethereum would make many of the platform’s stakeholders, including developers who have been working on privacy-enhancing features for some time, excited. But privacy techniques are rarely utilized because of the serious trade-offs presented – such as larger storage requirements and more expensive transactions.

However, during the Privacy Enhancing Technologies Symposium (PETS) in Barcelona this week, two researchers presented their findings on a technique called Mobius that uses mixing solutions to obscure the payment information of ether transactions.

Detailed by the authors of the white paper, Rebekah Mercer and Sarah Meiklejohn, during the conference, Mobius isn’t bogged down by the weight of typical privacy tech – indeed, using cryptographic primitives that were added to ethereum in October, transactions that use Mobius cost only a little more than a standard ethereum transaction (according to a simulation, around $0.06) and takes mere milliseconds to execute.

And by implementing monero-style tooling into an ethereum smart contract, Mobius promises to not only conceal sender and receiver addresses but do so in a way that is cryptographically trustless as well.

While it’s not yet available for ethereum users, an open source implementation has been published by UK-based distributed ledger startup Clearmatics, and according to Mercer, deploying it to the public ethereum chain wouldn’t be too labor-intensive.

“Clearmatics have all the code so you could literally just push it to the ethereum blockchain. They actually have tutorials as well, so it’s pretty well developed,” she told CoinDesk.

Building the technology into ethereum would have the advantage of functioning not just for ether transactions, also allow projects that built tokens with the ERC-20 standard, or even crypto-collectibles, to take advantage of the tech as well.

“Ethereum already has a huge network of people who hold ETH, and the thing is it’s ERC-20 compatible, so if you have tokens you can use them in this way,” she said, adding:

“The whole idea is reducing friction from what people are already doing into what they ideally would like [to do], which is exactly what they’re doing, but with privacy.”

You don’t have to compromise

According to Mercer, the innovation of Mobius is how it navigates trade-offs between decentralization and efficiency.

While centralized solutions often have the advantage of being more efficient, they come with limitations, such as single points of failure as it relates to hacks and thefts or services going offline. Decentralized mixing services – such as CoinJoin, TumbleBit and XIM – deploy trustless cryptographic solutions, but often require either large amounts of coordination off-chain or many steps taken on the blockchain itself, which can be slow and expensive to orchestrate.

“[There’s a] contrast between the more centralized solutions sitting between participants that risk availability and the more decentralized solutions which compromise in communication to make up for these properties,” Mercer summarized.

As such, the goal of Mobius was to question whether such a trade-off is always necessary.

She told the audience:

“So what we thought: is this a inherent thing, if you do a decentralized procedure do you need to pay for it in terms of communication? And what we found was that using ethereum you don’t actually have to make this compromise at all.”

To work around those trade-offs, Mercer and Meiklejohn built a cryptographic device named a ring signature into an ethereum smart contract, that obscures payment information by mixing it up with the other participants in the Mobius contract. Stealth keys, a type of obfuscated but verifiable address, are also deployed to allow Mobius contracts to securely communicate.

Originally built for Clearmatics to disguise payments in blockchain banking solutions, Mercer said that on top of its affordability, it’s easy to send recurring payments between participants who have already sent money across the device.

But for security purposes, the Mobius smart contracts are one-time use and will need to be regenerated when it comes to sending a new payment, Mercer said.

Still, it’s a notably cheap operation, she continued, telling the audience:

“Mobius achieves great things in terms of availability and theft prevention but without compromising on communication, which hopefully will encourage people to mix more often.”

Hurdles to implementation?

Still, while the tech is technically viable, Mercer said she is unaware of any attempts to implement it on public ethereum itself.

According to Mercer, that’s a surprising metric considering that on bitcoin, the demand for payment mixers is quite high.

“I actually have no idea why [it’s not implemented], because like if you look at CoinJoin and CoinMarketCap the order book always has people broadcasting their intention to mix bitcoin anonymously,” she told CoinDesk.

As detailed by CoinDesk, several ethereum businesses are seeking solutions to conceal sensitive information on decentralized applications, as well as providing tooling to anonymize the data in smart contracts. And while this contrasts with a low interest in Mobius, according to Mercer, it’s perhaps indicative of ethereum’s broader-than-payments scope.

“I think it’s just like how ethereum is used these days. It’s not what people expect, people don’t expect to use ethereum for privacy-sensitive transactions. It’s just not its selling point, it’s for decentralized apps, companies, traders and CryptoKitties,” she told CoinDesk.

And there’s other hurdles as well- while pushing Mobius onto public ethereum wouldn’t be too complex, there’s plenty of work to be done to make the technology more accessible to users, as currently, participating in a Mobius contract would be a prohibitively complex task.

“For mass adoption I guess you’d need some sort of user interface that’d literally just pick an anonymity set, and the back-end would just check if you were doing anything weird, and then you could just click through and make the transaction,” she told CoinDesk.

According to Mercer, there’s also work to be done in educating users on the benefits of mixing technologies, as well as continued research into the possible limitations of such techniques as well.

“I think the thing is, people really need to better understand what anonymity guarantees mixing is going to give them, and this is a problem on the research end. We need to make better definitions and have a better understanding, and better inform people,” Mercer said, adding:

“It’s not like people are stupid users who don’t know anything.”


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: Rachel Rose O’Leary 
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Monero (XMR) Price Rise is Disrupted By Bearish Pressure

The price of Monero is facing bearish pressure against the USD. The cryptocurrency is trading in range against the USD. The selling pressure pushed the price down to $135.58 which is a demand area. The price was below the two broken EMAs. This means that the bears are in control of the market. The stochastic oscillator is at 9% in the oversold region and the signal is pointing down. This means that the price movement is downward.

The Price Of Monero (XMR) Against The USD

The price of Monero entered into consolidation and started trading between $142.63 which was in the supply area and $132.35 which was in the demand area. While $142.63 was in the upper level, $132.35 was in the lower level. You have to be cautious during this consolidation period because it’s difficult to determine if a breakout of the upper price range will occur instead of a breakdown if the lower price range. The only thing that is certain is that one of them will happen soon.

Monero is still trading in range short-term as the bears successfully pushed the price down to the $139.94 demand area toward the close of yesterday’s market. There was a daily opening candle around $140.10 with bearish signs. As the bearish momentum increased, the price set a lower range at $136.69. This range was eventually broken and a new lower range was formed at $135.39 in the demand area.

There has been the formation of a bullish hammer which pushed the price to the $137.75 supply area. At the time of writing, however, the price of Monero was consolidating. It was trading between $145.47 and $136.69 according to the price analysis of Azeez M from Bitcoin Exchange Guide. Wait patiently for a breakdown or a breakout that has a candlestick confirmation to take any long positions in the market.

Name Price 24H (%)
Bitcoin (BTC)
$8,185.64
3.2%
Monero (XMR)
$140.02
1.84%

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Privacy Coin Monero Successfully Completes First “Bulletproofs” Audit

Privacy Coin Monero (XMR) successfully completes the first audit for its new “bulletproofs” protocol



In an official blog post back in December 2017, Monero announced its intentions to pursue including the bulletproofs mechanism into its protocol. They stated that bulletproofs would lead to “massive space savings, better verification times, and lower fees.”. The deployment was supposed to happen in two stages and be available for the test network before being deployed onto the main network.

Bulletproofs were proposed by Stanford’s Applied Cryptography Group (ACG) with contributions from the members of University College London and Blockstream.

Bulletproofs are an advancement to range proofs of zero-knowledge proofs mechanism, utilized by ZCash and some other cryptocurrencies.

In privacy coins such as Monero zero-knowledge proofs allow users to conceal their transaction amount from the public ledger while being a trust less network. In order to make sure the transaction is valid Range proofs are utilized. However, Range proofs consume a lot of space by the virtue of their design. Bulletproofs enables us to do the same task without consuming as much space.

In the blog post, Monero stated that the implementation resulted in an 80% reduction of transaction size, and subsequently would lead to 80% reduction in transaction fees. There have been several discussions in the Ethereum and Bitcoin community over the possible integration of this mechanism.

In a tweet yesterday, Monero team confirmed that the first independent audit, performed by Kudelski Security, has been successfully completed.

The report stated that they found four potential security issues of low or undetermined severity and eight observations related to general code safety of the implementation. The bulletproofs mechanism is now live on the Monero test network.

Two more audits by Benedikt Bünz, the co-author of the bulletproofs paper, and Quarkslab and are forthcoming and should be completed soon. The implementation is going to be integrated into the main network during the scheduled protocol upgrade of September/October.

In a tweet back in April, Charlie Lee, founder and developer of Litecoin, stated that “bulletproof is still a working progress”. Bulletproofs is definitely a promising breakthrough and we can expect more cryptocurrencies adopting this mechanism. Bulletproofs is one of the many proposed solutions –such as lightning network, Schnorr signatures, and sharding– to tackle the scalability issue faced by all blockchains.


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 Andy Peterson
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