No Result
View All Result
No Result
View All Result
No Result
View All Result
\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3460,"post_author":"1","post_date":"2022-02-14 20:37:17","post_date_gmt":"2022-02-14 09:37:17","post_content":"\n

Hashrate<\/a> is the computational power that is needed to verify transactions within a proof-of-work blockchain.<\/p>\n\n\n\n

The Bitcoin hash rate surged over 31% to a new all-time high of 248.11 terahashes (248,110,000,000,000) per second in raw values according to data<\/a> from Blockchain.com.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After a steep decline in July of 2021 due to the banning of cryptocurrencies in China, numbers have steadily recovered and seem to be on an upwards trajectory.<\/p>\n\n\n\n

After a majority of the miners shifted from China to Khazakstan after the ban, political chaos and power shortages are causing miners to pack up and move once again out of Khazakstan, which became the second-largest Bitcoin mining country only behind the United States.((https:\/\/globelynews.com\/world\/world-top-bitcoin-crypto-mining-countries\/))<\/p>\n\n\n\n

Are we going to see another collapse of the hash rates just after it reached an ATH, or will the miners recover quickly to keep the hash rate at its peak?<\/p>\n","post_title":"New ATH For Bitcoin Hashrate","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-ath-for-bitcoin-hashrate","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/","post_modified":"2023-04-11 12:55:12","post_modified_gmt":"2023-04-11 02:55:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3433,"post_author":"1","post_date":"2022-02-11 18:09:03","post_date_gmt":"2022-02-11 07:09:03","post_content":"\n

A Brute-Force attack, also known as exhaustive key search, is a hack using complex algorithms attempting to crack a password or key by trial and error to find the correct plaintext or password. As the password's length increases, the amount of time needed to find the correct password increases exponentially.<\/p>\n\n\n\n

Brute-Force Attacks are often made less effective by the use of obfuscating or complicating the data to be encoded. This makes it harder for an attacker to recognize when they've cracked the key, in turn making it more work and extending the computational power needed.<\/p>\n\n\n\n

The amount of time needed to crack the key depends on the size of the key. The theorized time it will take for any algorithm to crack the key is used as a metric to test the strength of the system, a larger key system in turn exponentially increases the resources required for an attack. The maximum number of attempts to crack the key is equal to 2^key size, key size representing bits.<\/p>\n\n\n\n

As bigger key sizes mean better security, cryptographic keys have increased in size. Currently, most cryptographic algorithms like Bitcoin use SHA-256<\/a> as it is a system using 256 bit-keys.<\/p>\n","post_title":"Brute-Force Attack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"brute-force-attack","to_ping":"","pinged":"","post_modified":"2022-06-12 00:49:01","post_modified_gmt":"2022-06-11 14:49:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3433","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3428,"post_author":"1","post_date":"2022-02-09 18:32:27","post_date_gmt":"2022-02-09 07:32:27","post_content":"\n

A couple has just been arrested and $3.6 billion in stolen cryptocurrencies seized, directly linked to the 2016 hack of exchange BitFinex. The report<\/a> comes directly from the United States Department of Justice, stating that 119,754 Bitcoin has been recovered.<\/p>\n\n\n\n

The suspects identified as Ilya Lichtenstein (34) and his wife Heather Morgan (31), were arrested in Manhattan, New York. Deputy Attorney General Lisa Monaco stated that the arrest was \"one of the largest in terms of financial seizure in history.\"<\/p>\n\n\n\n

Members of the crypto community added how \u201ceasy\u201d it is to track funds moved around certain blockchains, calling digital assets a safer alternative to cash as public ledgers discourage criminals from operating on-chain.<\/p>\n\n\n\n

Authorities have acknowledged that the suspects were allegedly able to break the BTC transaction flows, but they still were able to track the funds as the individuals were in the U.S. and used several Know Your Customer platforms with traceable IPs.<\/p>\n\n\n\n

\u201cCriminals always leave tracks, and today\u2019s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,\u201d<\/em><\/strong><\/p>Paul M. Abbate, FBI Deputy Director<\/cite><\/blockquote>\n\n\n\n

Creating A Safer Cryptocurrency Ecosystem<\/h2>\n\n\n\n

This is one step closer to making a safer environment for the vast public to join the cryptocurrency ecosystem with the confidence of knowing that illegal activities aren't as anonymous as people make it out to seem.<\/p>\n\n\n\n

\u201cCryptocurrency and the virtual currency exchanges trading in it comprise an expanding part of the U.S. financial system, but digital currency heists executed through complex money laundering schemes could undermine confidence in cryptocurrency...The Department of Justice and our office stand ready to confront these threats by using 21st century investigative techniques to recover the stolen funds and to hold the perpetrators accountable.\u201d<\/em><\/strong><\/p>Matthew M. Graves, US Attorney For The District Of Columbia<\/cite><\/blockquote>\n","post_title":"119k Bitcoin Seized In Relation To 2016 BitFinex Hack","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"119k-bitcoin-seized-in-relation-to-2016-bitfinex-hack","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:29","post_modified_gmt":"2023-04-11 02:55:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3428","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3413,"post_author":"1","post_date":"2022-02-08 21:35:14","post_date_gmt":"2022-02-08 10:35:14","post_content":"\n

The Recording Industry Association of America (RIAA) calls for an end to \"bogus\" NFT site HitPiece<\/a>'s infringement of artists' rights. The cease and desist was forwarded<\/a> to the attorneys of HitPiece on February 4th, 2022.<\/p>\n\n\n\n

The RIAA insists HitPiece stop infringing on the intellectual rights of the musicians for selling NFTs of their music without the consent of the original artists. This is nothing new, HitPiece has been criticized in the past by both artists and fans for the same reason. After an apology<\/a> from the company on February 2nd, this wasn't enough.<\/p>\n\n\n\n

The line was crossed and the FIAA decided to step in to take legal action and show that there is no playing around in this industry.<\/p>\n\n\n\n

\u201cHitPiece appears to be little more than a scam operation designed to trade on fans\u2019 love of music and desire to connect more closely with artists, using buzzwords and jargon to gloss over their complete failure to obtain necessary rights. Fans were led to believe they were purchasing an NFT genuinely associated with an artist and their work when that was not at all the case. While the operators appear to have taken the main HitPiece site offline for now, this move was necessary to ensure a fair accounting for the harm HitPiece and its operators have already done and to ensure that this site or copycats don\u2019t simply resume their scams under another name.\u201d<\/strong><\/em><\/p>Ken Doroshow, RIAA Chief Legal Officer<\/cite><\/blockquote>\n","post_title":"NFT Platform HitPiece Receives Cease And Desist Letter From Recording Industry Association","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"nft-platform-hitpiece-receives-cease-and-desist-letter-from-recording-industry-association","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:43","post_modified_gmt":"2023-04-11 02:55:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3413","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3401,"post_author":"1","post_date":"2022-02-07 19:10:06","post_date_gmt":"2022-02-07 08:10:06","post_content":"\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT

The Distributed Team

1 … 36 37 38 39 40 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.