🌐 US Department of Energy has developed an algorithm for detecting cryptojacking attacks
US Department of Energy scientists have turned to the private sector for help in commercializing a "super-powerful" cryptojacking detection algorithm for data centers.
The technology disclosed in a possible contract can identify with maximum accuracy illegal mining software that uses free computing power of hosts to mine cryptocurrencies. The software is fighting the "growing threat" of cryptojacking attacks that threaten data centers around the world, according to DOE scientists.
Department of Energy scientists at Idaho National Laboratory want to stop the spread of hidden mining software by offering their detection technology to private sector partners. The algorithm scans data processing applications for hidden cryptocurrency miners. It uncovers hidden mining software using deep learning technology, which researchers believe is more accurate than binary classification.
“This invention is a rapid test based on machine translation. It allows you to ensure that the binary file submitted for execution on the data center system does not contain cryptocurrency mining malware. It uses the attention engine in deep learning to accurately and reliably detect mining malware that is secretly deployed on high performance computing systems. This approach is based on machine translation, not binary classification. "
The details of how the algorithm works are only available to potential partners, whom the ministry hopes to involve in the development and eventually commercialization of an early-stage cryptojacking detection algorithm.
In the summer of 2019, the US Department of Energy issued a $ 1.05 million grant to organizations working to commercialize a blockchain platform for power distribution management. According to a recent report from Microsoft, hackers are increasingly using cryptojacking attacks as a distraction for more serious security incursions.
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🌐 Vice President of Nigeria: "cryptocurrencies and blockchain will change the financial system"
Nigeria's Vice President Yemi Osinbajo highlighted the positive impact of cryptocurrencies and blockchain, as well as the DeFi industry, on the financial system.
“There is no doubt that blockchain in general and cryptocurrencies in particular will change traditional banking in the coming years, including central banks. And they will change it in the most unpredictable way. We need to prepare for this systemic shift, it will happen sooner or later, ”the vice president said during a speech at the summit of the Central Bank of Nigeria.
Osinbajo stressed that the DeFi industry will use smart contracts to create new financial instruments that will eliminate intermediaries such as brokers or banks. These tools can completely transform the traditional financial system. The Vice President of Nigeria said:
“There is great development going on right now, but it requires discretion and care in implementation. They need to be well developed by our regulators. We need to act from a position of knowledge, not fear. We must choose such a position to get all the possible benefits, but prevent any adverse side effects, including criminal ones, that may arise from the introduction of new tools. "
Recall that in early February, the Central Bank of Nigeria issued a ban on servicing cryptocurrency firms by commercial banks. However, a little later, the country's legislators opposed this ban and called for high-quality regulation of the industry.
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🌐 Clem Chambers: there are too many gamblers in the cryptocurrency market
ADVFN analyst and CEO Clem Chambers believes that the short-term prospects for bitcoin are very vague and the BTC rate is unlikely to reach $ 100,000 in the coming years.
According to the analyst, the “bulls” are exhausted and in the coming months Bitcoin will consolidate and decline. There are too many "gamblers" on the market, and this is a negative signal for the first cryptocurrency. BTC is unlikely to hit $ 100,000 until the next miner reward halves in 2024.
“Insane volatility speaks of market uncertainty, which is bad,” Chambers said.
The analyst also spoke about institutional investors. In the cryptocurrency market, there is an opinion that the interest of large financial organizations leads to the growth of bitcoin. And this is largely true, but Chambers recalled that Wall Street sharks love money and do not care about other market participants:
“Remember that institutional money is not being invested for your benefit. The Wall Street guys aren't your friends. They live off the fact that they rob you, take the slightest profit and do it at any opportunity. They are not here to send bitcoin to "aboriginal".
Earlier, analysts of the platform for institutional investors CrossTower said that the interest of large organizations in bitcoin will continue to support the BTC rate above $ 50,000. Now the first cryptocurrency is trading at $ 46,500.
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🌐 Bridgewater analyst: "clear regulation of bitcoin will make it more stable"
Bridgewater Investment Director Rebecca Patterson believes that clear regulation of cryptocurrencies will make Bitcoin more stable and increase its liquidity.
Patterson said that if international regulators develop specific regulatory requirements for digital assets, this will solve the problem of high volatility in Bitcoin. As a result, more institutional investors will pay attention to it. According to the analyst, it is the unstable rate of the first cryptocurrency and its low liquidity that are the main obstacles to Bridgewater's transition to Bitcoin.
Patterson explained that tweets about bitcoin alone can greatly affect its value, so many large organizations are afraid to invest in this crypto asset. For example, at the end of January, Tesla CEO Elon Musk wrote one word in his profile description: bitcoin, after which the BTC rate increased by 20%. Bridgewater's head of investment said:
“The volatility of bitcoin is ten times that of the US dollar. This issue will be addressed if Bitcoin becomes more stringently regulated. This will increase people's confidence in bitcoin, so all types of investors will be comfortable working with it. But I'm not sure that the US is ready to deal with this issue now. "
A Bridgewater analyst also said she sees bitcoin not as an alternative currency, but as "digital gold." Many investors are starting to invest in bitcoin due to concerns about global inflation, which is caused by the printing of money by central banks of different countries. However, bitcoin must prove its status as "digital gold", and this will take a long time. Therefore, Bridgewater cannot yet accept Bitcoin with certainty.
Earlier, Bridgewater Associates founder Ray Dalio said that Bitcoin is unlikely to be accepted as a currency. Dalio believes that only precious metals can become an alternative to cash.
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🌐 1inch Decentralized Exchange Aggregator To Launch On Binance Smart Chain
Binance Smart Chain continues to attract decentralized projects - the popular decentralized exchange aggregator 1inch announced the launch of its smart contract on this blockchain.
Running Binance Smart Chain (BSC) held in September 2020. Unlike the Binance Chain blockchain, BSC allows smart contracts to be deployed. At the same time, the network has a large bandwidth, and transaction fees remain low. Sergey Kuntz, CEO and co-founder of 1inch, stressed:
“We see a great opportunity - the 1inch Liquidity Protocol could become the largest liquidity protocol on the Binance Smart Chain, especially since it is already the most efficient automated market maker on the market.”
The DEX aggregator has already launched its 1INCH token on BSC, so users of this blockchain can apply the liquidity protocol. The 1INCH token can also be used as a gateway for interaction between BSC and Ethereum. That is, the user can “send” 1INCH tokens from the Ethereum network to the BSC.
At the same time, they will be blocked in the Ethereum network, and a similar number of tokens will be unlocked in the BSC. This allows 1inch users to enjoy popular DEXs on the Binance Smart Chain - PancakeSwap, BurgerSwap, Venus, StableSwap, and more.
To attract users, the 1inch aggregator launched a “profitable mining” program in the BNB / 1INCH pair. From February 26, users will be able to block BNB coins and 1INCH tokens and receive rewards. The program will last four weeks.
Recall that the launch of the 1INCH token took place quite recently - at the end of December 2020. At the moment, the capitalization of the token is $ 650 million.