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US Stock Brokerage E*Trade Prepares Crypto Trading with Bitcoin and Ether

US Stock Brokerage E*Trade Prepares Crypto Trading with Bitcoin and Ether

US Stock Brokerage E*Trade Strokes Excitement with Rumored Ether, Bitcoin TradingMajor US online stock broker E*Trade is set to foray into cryptocurrencies with bitcoin and ether trading. | Source: ShutterstockBy CCN.com: E*Trade Financial Corp. is waking when it comes to the importance of allowing its customers the ability to trade cryptos. It’s readying to allow them to trade Bitcoin and Ethereum, Bloomberg reports.While banks and others have shunned cryptos, E*Trade’s willingness to allow customers to trade them is significant. It’s another step in the mass adoption of cryptos, which have been plagued by criticism.Entrance Would Do Wonders For CryptosBloomberg spoke to anonymous sources about E*Trade’s plans. Allowing crypto trading would make E*Trade one of the largest securities brokerages to provide the service, according to Bloomberg.E*Trade would join the well-established exchange Coinbase. There is also Robinhood. Robinhood is a commission-free stock trading app that began allowing for crypto trading last year.Details about when E*Trade’s service would launch, or the fee structure, were not noted.No matter, news of the plans was naturally greeted positively by crypto enthusiasts. Richard Dennis, the founder and senior cryptography advisor of temtum, weighed in about mass adoption.“Seeing E*Trade introduce cryptocurrency trading would bring some much needed trust at what could be perceived as a time of volatile sentiment towards crypto exchanges.Exchange adoption will offer alternative on ramps, widen audiences and diversify investor demographics, while hopefully increasing money flow into the market, but they won’t solve what consumers need to use crypto.”Crypto players also took to Twitter to voice their happiness about the possible launch.This is a huge deal. Arguably bigger than Bakkt, ETF, Fidelity.Etrade is the BEST way to introduce crypto to the retail masses https://t.co/ryQXKF9D8g— Crypto Quantamental (@CryptoQF) April 27, 2019Financial giant eTrade now entering the crypto market, looking to offer Bitcoin and Ethereum pairs.They join the long and growing list of huge financial institutions and companies getting into cryptocurrency.$BTC $ETHhttps://t.co/HA3fQ4me4G— Moon Overlord (@MoonOverlord) April 27, 2019Crytpo enthusiast with the handle ‘Digital Asset Investor’ was extremely excited, saying he’d nailed E*Trade’s entry for a long time.E*Trade’s plans prompted Digital Asset Investor teased Charles Schwab.Hi @CharlesSchwab I just read that @etrade is going to offer digital asset trading to their 5 million customers and I previously read that @TDANetwork was going to do the same with their 11 million customers. Will you be offering digital asset trading to your customers?— Digital Asset Investor (@digitalassetbuy) April 29, 2019Perfect TimingCryptos received somewhat of a blow last week over Bitfinex and Tether. On Thursday, New York Attorney General Letitia James obtained a court order to shut down the pair.The New York attorney general alleges that Bitfinex – historically one of the largest Bitcoin exchanges – doesn’t have access to some $850 million Tether tokens and that it’s probably guilty of fraud as a result, CCN reported.In a move that seems to be going further than any purported fraud, the AG has also demanded that Tether turn over documents that some traders may be uncomfortable with her having in possession. This includes complete records on people who hold Tether and are believed to reside in New York.To have this positive news about E*Trade follow is welcomed. Dennis said:“Last weeks’ news involving Bitfinex and Tether for example has increased fear within even hardened crypto investors and potentially affected market sentiment once more as the industry seemed to be moving forward with new hope.”Ameritrade & eTrade entering crypto would likely be much bigger than any Tether bearish developments. https://t.co/SXws7vY7CK— Alex Krüger (@krugermacro) April 27, 2019Still More Work To DoAdoption of cryptocurrencies and what’s required for ‘mass adoption’ is expansive, Dennis points out. It goes much further than even the most trusted exchange platforms, like Coinbase and Robinhood, who have both “done extremely well and defining who they are and who they want to trade.”Unfortunately E*Trade crypto trading will not equate to, and will not lead to, the common goal of greater adoption of cryptocurrencies.Issues related to speed, security, scalability, and resource consumption must still be addressed. Then we’ll see the market shift to crypto being used rather than traded or stored – as long as they combined with defined, achievable routes to market, Dennis said. About The AuthorTedra DeSueIf you can buy it, trade it, invest in it, or sell it, I write about it. For more than 20 years, I’ve covered all things finance. I threw myself into covering the crypto space with the keen understanding that it would be an industry disruptor. I’m in constant search for the real Satoshi Nakamoto!
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Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines. Here’s what happened. 1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin. 2. The…

Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines.

Here’s what happened.

1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin.

2. The figureheads of the fake cryptocurrency scheme, OneCoin, are being sued. Brother and sister duo, Konstantin Ignatov and Ruja Ignatova are facing a class action law suit for their involvement in the scam which was “based completely on lies and deceit,” ZDNet reports.

3. A Bitcoin BTC fueled ransomware attack hit the Baltimore City government last week. Despite being cleaned of the ransomware, hackers are allegedly still accessing the infected computers, ZeroHedge reports. The Federal Bureau of Investigation is now investigating the attack.

4. The creator of the Bitcoin treasure hunt Satoshi’s Treasure is claiming nearly 60,000 people are following the global challenge, CoinDesk reports. One player has already claimed the first prize, and didn’t even have to go anywhere to claim it.

And finally.

5. William Shatner is putting William Shatners on the blockchain. The former Star Trek actor is joining Mattereum, a legaltech firm, to document the authenticity of science collectibles and memorabilia from a range of franchises on the blockchain.

That’s another weekend’s headlines for you. Live long and prosper.

Published May 13, 2019 — 07:58 UTC

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Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments. Despite first being filed in December 2016, Amazon’s patent application was granted earlier this…

Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments.

Despite first being filed in December 2016, Amazon’s patent application was granted earlier this week and appears to outline a system that uses Proof-of-Work to prevent distributed denial-of-service (DDoS) attacks.

“One way to mitigate against such attacks is to configure a service such that requests to the service incur some sort of expense, thereby providing a disincentive to participating in the attack,” the application reads.

Planting a Merkle Tree

Amazon proposes to use Merkle Trees to present a Proof-of-Work challenge and make it too costly for a series of computers to perform a DDoS attack.

But what’s a Merkle Tree? In short, Merkle Trees are cryptographic tools where blocks of data are manipulated to give them a unique identifier also known as a hash.

These hashes are then manipulated again to create a parent hash. Parent hashes are always a combination of two or more child hashes. It’s layers on layers of hashed data.

Since computing power is required to build a Merkle Tree, performing such hashes could get very costly in terms of time, electricity, and resources. In turn, this makes DDoS attacks economically unfeasible.

In the case of Amazon’s patent, imagine having to construct a Merkle Tree before you’re allowed to access a website hosted on one of its servers. To an individual the cost might be insignificant, but to an organization trying to carry out a DDoS attack – which might involve many hundreds of computers – it could become prohibitively expensive.

Amazon’s Merkle Tree

Merkle Trees are also used in Proof-of-Work blockchains like Bitcoin as part of its consensus mechanism. But for now that’s as close as Amazon will get to Bitcoin.

Indeed, with this news it seems Amazon is still of the “blockchain, not Bitcoin” mantra. Earlier this month, the web giant said that AT&T, Accenture, and Nestlé are all using its cloud-based blockchain tools.

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South African voters fear mobile political campaigns will steal their personal info

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