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Mining Digital Gold — These Are the Most Profitable Proof-of-Work Algorithms in 2024
In September 2022, Bitcoin’s SHA256 algorithm ranked as the seventh most lucrative proof-of-work (PoW) network for mining. Fast-forward a year and four months, and this algorithm has ascended to become the third most profitable crypto network for mining operations.
2022 to 2024 Sees Significant Shifts in Crypto Mining Profitability:
As of January 2024, the ranking of the most profitable crypto networks for mining has evolved from what it was in 2022. Back in September 2022, Kadena stood at the forefront as the leading mineable proof-of-work (PoW) algorithm, enabling miners to extract kadena (KDA). However, today, the top spot for the most lucrative PoW network for mining is held by kaspa (KAS), which utilizes the Kheavyhash algorithm.
On Sunday, Jan. 21, mining with 9.2 terahash per second (TH/s) of Kheavyhash hashpower is reported to yield roughly $69 per day, based on current data from asicminervalue.com. Read More
New malware uses pirated apps on MacOS to highjack crypto wallets
Basic honesty and caution could foil an “ingenious” malware campaign being launched with pirated apps, Kaspersky Labs says.
Kaspersky Labs has found previously unknown malware that enters macOS users’ computers through pirated software and replaces their hot Bitcoin and Exodus wallets with infected versions. According to the researchers, the hackers are still developing the malware in preparation for a new campaign.
Researchers uncovered a “family” of new trojan proxies in December. Hackers were compromising, or “cracking,” legitimate apps that users downloaded from unauthorized sources:
“Cybercriminals […] realize that an individual looking for a cracked app will be willing to download an installer from a questionable website and disable security on their machine, and so they will be fairly easy to trick into installing malware as well.”
The malware targets macOS versions 13.6 and above. The hackers gain access to a user’s computer security password when the user enters it into an activator box, and to the private keys to crypto wallets when the user tries to open crypto wallets compromised by the malware. Read More
Web3-powered communication platform aims to put users back in control
Blockchain can reshape digital communication, and a Web3 communication platform details how to achieve that in its newly released white paper.
Blockchain revolutionizes digital communication by addressing key issues like interoperability, data ownership and privacy. User-centric Web3 platforms such as SendingNetwork play a critical role in this transformation, empowering users with ownership of their data.
Modern communication protocols and technologies offer vast opportunities to the quest for an interconnected world. However, fundamental issues and limitations keep the digital era from reaching its full potential.
The interoperability stands out as a challenge, hindering seamless interaction across diverse digital platforms. Another critical concern is data ownership. By engaging with various online services, users often surrender control over their data through the acceptance of terms of service. Moreover, the issue of privacy remains contentious as social media platforms’ assurances are at odds with their ability to access and monitor user conversations. Read More
Invesco and WisdomTree cut fees on European ETPs as price war reaches Europe
U.S. investors often turned to European and Canadian-based ETPs for investment, but now the tables have turned as U.S.-based spot BTC ETFs are more easily accessible and more liquid, attracting European investors as well.
The spot Bitcoin exchange-traded fund (ETF) fee war has now reached Europe, just weeks after the United States Securities and Exchange Commission (SEC) approved the BTC ETFs in the country.
Before the approval on Jan. 10, several applicants updated their S-1 filings multiple times to lower their ETF fees. Now, a similar trend is being observed among European listed exchange-traded products (ETPs).
Two leading asset managers, Invesco and WisdomTree, slashed fees on their European-listed ETPs by more than 60%. The $137 million Invesco Physical Bitcoin ETP will see a charge reduction from 0.99% to 0.39%, while the $325 million WisdomTree Physical Bitcoin ETP will see a cost reduction from 0.95% to 0.35%. Read More
As the crypto industry gears up for the next bull run, Markethive isn't just sitting on the sidelines – it's rolling up its sleeves and diving into the action, poised to shine on the high-performance stage of the Solana blockchain. At the heart of this venture is Markethive's native cryptocurrency, Hivecoin (HVC), a key player ready to unlock the industry's full potential. Solana's reputation for speed and scalability provides the perfect playground for Markethive's ambitious goals.
Cryptocurrency and blockchain have shaken the business world, creating a new era of possibilities. And Markethive? Well, it's not trailing behind; in fact, it's leading the charge. This unique platform, grounded in blockchain technology, caters to entrepreneurs, marketers, and business owners, offering them a suite of tools and services to navigate this brave new world.
Now, to make things even more exciting, Markethive has introduced the HVC into the mix. This token isn't just any token; it's intricately woven into the fabric of Markethive's ecosystem. And guess what? It's riding the Solana blockchain wave. Why does that matter? Buckle up because we're about to dive into the juicy details of why this move is a game-changer.
Ready to uncover the magic behind Markethive's strategic choice? Let's jump into the discussion and explore the manifold benefits of having the HVC token on the Solana blockchain. Read More
Coinbase addresses Geth dominance concerns with client diversity
Coinbase is conducting updated technical assessments on alternative Ethereum execution clients as the ecosystem’s Go.Ethereum client reliance attracts community concerns.
Cryptocurrency exchange Coinbase is working to add another Ethereum execution client to its infrastructure as critics continue to sound the alarm over Geth dominance across the ecosystem.
A post on X (formerly Twitter) published on Jan. 22 drew attention to the exchange’s renewed efforts to move away from its total dependence on go-ethereum, or Geth. As the thread details, Coinbase Cloud found that Geth was the only Ethereum execution client that met its technical requirements when it launched Ethereum staking.
“Although we’ve evaluated execution clients since 2020, none have met Coinbase Cloud’s requirements to date. Many other operators on the network have reached the same conclusion, which is part of the reason why 84% of Ethereum validators run Geth. However, the tide is turning,” the thread reads. Read More
Trezor Issues Security Alert Following Phishing Attack and Data Breach
In a recent security alert, Trezor announced a breach in its support ticketing system, potentially exposing the personal contact information of over 66,000 customers and raising the alarm for possible phishing attacks.
Trezor Alerts Users to Phishing Risk After Security Breach:
Satoshilabs, the company behind the popular cryptocurrency hardware wallet Trezor, has issued a critical security alert. On January 17th, 2024, Trezor identified unauthorized access to a third-party support ticketing portal, potentially compromising the contact details of up to 66,000 customers.
The breach was first detected at 20:20 CET, and Satoshilabs immediately took measures to prevent further unauthorized access. While the security of users’ digital assets remains intact, the incident has raised concerns over the potential exposure of customers’ names and email addresses since December 2021. Read More
Hackers Target Crypto Email Lists, Send Phishing Attacks Netting Over $700,000
The MailerLite email marketing service says an employee was phished and allowed internal access to its systems.
Email service provider MailerLite was the victim of a phishing attack, and the target was the crypto market, the company notified Decrypt on Tuesday.
According to an email alert from the company, the attack happened after a support team member clicked a deceptive link, entered their Google credentials, and confirmed the second-factor challenge—giving hackers access to Mailerlite’s internal system.
“Upon gaining access, the perpetrators executed a password reset for a specific user on the admin panel, further consolidating their unauthorized control,” Mailerlite said. “With this level of access, they were able to impersonate user accounts. The focus was exclusively on cryptocurrency-related accounts.” Read More
Is a Crypto Token Itself a Security? SEC Can't Make Up Its Mind
Apparent contradictions in the SEC’s arguments in the Coinbase and Binance lawsuits expose mounting legal troubles for the regulator, experts say.
After years of legal prologue, the United States Securities and Exchange Commission’s (SEC) battle against large swathes of the crypto industry appears to finally be coming to a head.
In a federal court hearing last week regarding the merits of the agency’s lawsuit against Coinbase, and during one yesterday concerning its case against Binance, attorneys for the SEC attempted to explain why many tokens on both crypto exchanges should be considered illegally unregistered securities offerings. At multiple points in both hearings, presiding federal judges appeared unconvinced.
One emerging, particularly sticky point for jurists is how the SEC has defined crypto tokens in the context of securities law. Historically, the agency has gone after securities schemes, not individual products; for example, the agency has successfully sued entities that enriched passive shareholders by investing in whiskey and orange groves. The agency has never, though, sought to ban whiskey or oranges in their own right. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
