I am not saying it is impossible that eth will become king but mostly not. Yes, it is potential but how about bitcoin porks or else bitcoin? Anyway, it is too early to say and predict what we imagine will happen. You are right it takes time to undergo a kingship.

Even it's too early to say any thing but bitcoin is too big to overcome. I have a feeling that no coin would ever take bitcoin's place. If there's one day bitcoin died, cryptocurrency world would collapsed.

in my opinion about this theme, altcoin can be very famous because many new altcoins have emerged using new techniques, such as miwblewimble, etc. this could trigger a big growth in the future.

I doubt that. Such coins with innovation like Grin and Beam are really rare. This even holds true with real usage coins. Aside from that, most of altcoins are created with money making purposes.

We need a reset before alts season. Bitcoin dominance's increase will make alts become dusts then we'll see another pump season like in the late 2017.

In this content we are talking only about quantitative spam. Beginners usually do not check whether such news was published or not.

Deleting off topic/duplicate posts should be a moderator's duties and obviously it's not my case.

Communication on the forum is only welcome. At the same time, you will learn a lot of new things for yourself and share your information received. And at the same time, as a result, the rank grows much faster.

I'd rather be silent than shitposting all around forum with over 9000 one-line posts/year. Even in the forum X, I couldn't find anyone has such same posting production.

It's weird enough. I've been publishing a lot of news with full details during my early posts and received a warning from a moderator.

Hi!

Forum is intended for communication. If you continue to publish only news from other sites, get a strike.

BR,

[name hidden]

Moderation Team

The warning made me think that news related sections are restricted. Should admin have some guidelines on this?

One ethereum community member is about to begin what one might call a “friendly fork” of the ethereum blockchain.

Called “Alternateth,” James Hancock, project team lead at ethereum startup ETHSignals, told CoinDesk in interview that he hopes the network will act as “a sister chain” to ethereum validating ideas and proof-of-concepts before adoption on the main chain. The goal is to initiate the split in two months’ time.

“For ethereum to be sound money, it needs to be very conservative in making changes,” said Hancock. “For ethereum to keep pace with competition it needs to keep making changes. These two ideas are in tension as it is difficult to do both well.”

Ethereum is the world’s second largest blockchain network by market capitalization. Since launch in 2015, ethereum has witnessed the rise of several other competing smart contract platforms include EOS, Tron, IOST and others. While none come close to matching ethereum’s near $30 billion valuation, the proliferation of new technology iterating on ethereum’s architecture and structure have fueled further pressure on developers to maintain the network’s competitive edge.

As such, Hancock sees Alternateth as a test network of sorts for speeding up development on ethereum mainnet. For example, one of the first features he intends to execute on Alternateth is mining algorithm switch, “Progressive Proof-of-Work” (ProgPoW), which has yet to see mainnet activation on ethereum despite being approved by core developers since early January.

But outside of testing purposes, Hancock also sees Alternateth as a blockchain to support ethereum developers.

Leveraging a block rewards mechanism similar to what is seen on the zcash blockchain, Hancock tells CoinDesk that a portion of mining rewards on Alternateth will be collected into a multi-signature address “comprised of multiple trusted community members.”

At present, Hancock is rallying support for this new ethereum blockchain from other developers. In terms of miner support, Hancock purports that some general purpose miners on ethereum are already “ready to mine” the ProgPoW algorithm, which Alternateth will leverage from the outset.

In terms of project fundraising, Hancock emphasized that there is presently no intentions to launch an initial coin offering or pursue alternative avenues for funding.

Rather, Hancock affirmed the project is an entirely volunteer-driven effort that has yet to fully work through all of the nitty gritty details of blockchain code protocol and monetary policy.

The overall vision, however, is clear. Hancock affirmed:

“It will be a test-bed for some of these upcoming features [for ethereum] and will support funding development for the main chain…Similar to the relationship between litecoin and bitcoin.”

Early stages

For now, the Alternateth initiative is still in very early stages of development, though Hancock asserts he’s receiving support privately for now from other unnamed ethereum developers and miners.

“I am getting support on how to execute the fork,” said Hancock. “I wouldn’t say they are ‘working on the project,’ at least not for now…I’ll let the [developers] announce their own involvement.”

To this, ethereum developers and other community stakeholders have been rallying support for various sustainable funding initiatives on the ethereum blockchain.

In fact, the proposal of introducing block rewards on the platform most recently stirred a flurry of controversy in the ethereum community back in April when a working group was created by the founder of crypto bounties platform Gitcoin, Kevin Owocki.

Owocki told CoinDesk in a past interview:

“I do think that there’s a limit to the amount of throughput that can go through Consensys grants and the [Ethereum Foundation] grants system…Also, in the spirit of decentralization, we basically can’t rely on Consensys grants and [Ethereum Foundation] grants to be around forever.”

Past conflicts

Agreeing with this sentiment, ethereum core developer Lane Rettig created a GitHub proposal in response for “a better, more explicit governance structure” on ethereum which could take on the task of managing block reward funds.

However, the conversation came to a head when discussions got heated between members of the block rewards working group in April.

Arguing that “public salary discussions” would be one of the many political issues caused by reallocating Ethereum Foundation funds into a new structure of fund management, Spankchain CEO Ameen Soleimani called out Rettig for allegedly requesting a $200,000 salary from the Ethereum Foundation and pushing discussions on block rewards forward for his own personal financial gain.

Rettig rebutted this accusation by stating that he did not request such a salary and that the Ethereum Foundation as a whole “does not give salaries.” Hourly pay by the Ethereum Foundation according to Rettig, on the other hand, is “as little as $25 per hour” for senior developers.

Rettig wrote in the working group Telegram group chat:

“My motivations for these governance/funding discussions is that I worked unpaid for about six months and there are other developers on the Ethereum Foundation teams that have been unpaid for ten months or more, many working without valid contracts. Does that sound fair?”

While Rettig and Soleimani have since returned to amicable relations on social media, the block reward working group – now renamed to “ETH Commons Funding Models” on Telegram – has since quieted down considerably.

At the same time, Hancock, who remains one of the working group members on Telegram, hopes to revive this idea of block rewards, only by applying it to a separate blockchain platform.

Alternateth, Hancock concludes, will be “a friendly fork of ethereum” designed to support and complement the ethereum blockchain, not compete with it.

Ethereum image via Shutterstock

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Ripple CEO Brad Garlinghouse says he owes a debt of gratitude to Facebook’s head of blockchain, David Marcus.

At Fortune’s Brainstorm Finance conference in New York, Garlinghouse said the San Francisco startup is on pace for a record week after the announcement of Facebook’s digital asset Libra.

“I’m going to send a case of champagne to David Marcus, the guy who runs Libra. The reason is, this week will probably be the best week of signed contracts at Ripple ever. It has been a massive call to action because Facebook kind of came out and said we don’t need Western Union anymore…

And I think the banks realize that if Facebook is going to be a competitor in this space, they can’t depend upon a technology like Swift to compete in the marketplace.”

As for Ripple’s new partnership with money transfer giant MoneyGram, Garlinghouse says it’s an example of a need for solutions like the XRP-based cross-border payment product xRapid which MoneyGram CEO calls “dynamic”.

“What xRapid allows is for me to shuttle value in real time from, say, British pound to Philippine peso, and I don’t have to pre-fund into the Philippine peso…

The xRapid product we’ve now had in market for about eight months. We’ve announced about 10 to 15 production customers taking advantage of that product. For a Silicon Valley to be able to go from launch of a new product to 10 to 15 customers, I’m pretty thrilled. I think for a lot of banks that have a lot of liquidity parked around the world, they’re evaluating what that means.

I was talking to the CEO of one of the largest banks in Canada, and they were exiting their correspondent relationship in Brazil. It’s expensive for them to hold Brazilian reals. And they’re like, look, we don’t have enough demand, so now we’re going to use a correspondent bank. Now if they could use xRapid into Brazil, they don’t have to have the pre-funded money. They don’t have the expense and they can still solve their customer’s problem that needs to do business in Brazil.”

When it comes to the crypto and blockchain space as a whole, Garlinghouse says he thinks multiple coins and blockchain companies will thrive in the long run, and he remains long on Bitcoin.

“I don’t think there’s going to be one crypto to rule them all. I own Bitcoin. I’m long Bitcoin. I think Bitcoin is a store of value and people hold it. And so I don’t think there’s going to be just one use case. We think about XRP as an incredibly efficient shuttler, a bridge currency if you will, because it’s extremely fast. In contrast to even Bitcoin, for example, we can do a transaction for about six ten-thousandths of a cent. A Bitcoin transaction today costs about $2.30 per transaction.

That doesn’t mean Bitcoin is going to fail or something. I think Bitcoin and XRP – I don’t view them as competitive. XRP is extremely efficient for that payments problem we’re solving. And Bitcoin as a store of value, digital gold, as you heard from Barry Silbert up here yesterday. Today gold is worth many trillions of dollars and Bitcoin is worth around $200 billion.”

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There are numerous ways for cryptocurrency enthusiasts and speculators to lose their funds. In a lot of cases, this is due to an error on their part. However, there are external circumstances which often go beyond the user’s control. Especially when it comes to SIM swap fraud and similar criminal business models, things get out of hand fairly quickly.

Verizon Users Loses Thousands of Dollars

Cryptocurrency users have fallen victim to mobile phone hijacking over the past few years. This particular method is used by criminals as a way to gain full control over one’s mobile number. In most cases, the end goal is to take over the number in order to bypass any two-factor authentication security associated with online accounts. Especially when it comes to cryptocurrency exchanges, SMS authentication is very commonly used in this day and age.

For one Verizon user, things spiraled out of control in rather quick succession. The user received a text which seemingly indicated he was on the phone with Verizon and authenticated his account through an “alternative method”. Users often give their customer number, an address, ID card number, or something similar to prove they are the genuine account owner. In this case, the hacker just provided correct billing information, which should never be sufficient to take over a phone number.

In the text message, a phone number is depicted where potential victims of mobile phone hijacking can get in touch with Verizon’s customer support. The number in question worked fine, but getting a hold of an operator is a different matter altogether. Even on Twitter, the response from their customer support is abysmal, but that is par for the course these days. A lot of mobile operators struggle to provide sufficient and adequate support when incidents like these take place.

Because the user could not get the support he needed, the hacker simply began taking over all of his accounts. This includes the Gmail and Coinbase account both of which are authenticated through the mobile number in question. Within a few minutes, the hacker cleaned out the Coinbase account and stole 1.18 Bitcoin without raising any alarms.  Shortly after, the Litecoin and Ethereum balances were sent to brand new addresses as well.

While there are a lot of questions regarding Verizon’s role in all of this, it is rather evident this can happen to anyone. It is not just native to US providers either, as any criminal can obtain billing information and other personal details on most cryptocurrency users. All they need is social media – where a lot of information is shared publicly – or purchase the information cheaply from other sources. Once a hacker gains control over one’s exchange account, things will go from bad to worse in the blink of an eye.

All of this further shows cryptocurrency users need to be very careful regarding the information they share on social media. It is no secret Facebook, Twitter, and Instagram a real monitored closely by criminals looking for new targets to exploit. Even just saying how one uses platform X, Y, or Z can be sufficient to attract the wrong crowd. Incidents like these will continue to occur for the foreseeable future, until more and more users begin moving money off exchanges the instant they receive it.

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