Sunday, August 30, 2020

Lamden Mainnet is Coming. Lamden Mainnet will be launching on…16 september 2020

 


The Moment of Truth
The wait is almost over; Lamden's mainnet launch is fast approaching. September 16th, 2020 will be an inflection point, marking the transition from a technology promised to a technology delivered.

We at Lamden have been working nonstop to deliver on the unfulfilled promises of blockchain. Instead of modifying an existing technology, we decided to design and build a novel blockchain architecture from scratch. As a result, our Python-native modular blockchain delivers a revolutionary leap in performance, efficiency, and usability.

The moment of truth and the reveal is drawing near. Blockchain of today is one of complexity, high congestion, and outrageous fees. Lamden's mission is to unleash a disruptive solution upon these challenges and make blockchain fast, user-friendly, and cost-effective. One day, we will look back and remember September 16th, 2020 as a pivotal moment for blockchain and its revival.

The Road Traveled
We at Lamden took the road less traveled and it made all the difference. The imminent release of Lamden blockchain is the culmination of two and a half years of nonstop development and testing, and pushing the limits of what blockchain can do. We have worked hard to make life easier for developers by creating a Python-native platform that simplifies development and testing, and accelerates product deployment and monetization.

We have set our goals sky-high and refused to take a shortcut or compromise, and achieved results beyond our wildest expectations. We are deeply grateful to our amazing community for their unfailingly generous and enthusiastic support over the years. The mainnet would not have been possible without our team of developers and their unwavering commitment to deliver something extraordinary.

The Road Ahead
In the coming weeks, we will share more details on mainnet and exciting new plans with our community members. Our roadmap includes a developer on-boarding campaign, exciting new DeFi products, and a specification for Lamden version 2.0.

Lamden mainnet is just around the corner, but community members can start developing their ideas now using Lamden's Python-based smart contracting system. For an introductory period, developers will earn 90% of all TAU used to transact against their smart contract.

To our existing community members and those new to Lamden, we extend our warmest welcome to the Lamden Legion.

For more information, please visit:
https://lamden.io/  

Friday, August 28, 2020

TECH 26 AUGUST 2020 Patrick Thompson Mitiga, an incident readiness and response company, has discovered that a product available on Amazon Web Services Marketplace contained Monero mining malware. Mitiga published their findings, noting that they discovered the malware when conducting a security audit for a financial services company. “Mitiga’s security research team has identified an AWS Community AMI containing malicious code running an unidentified Monero crypto miner,” according to the Mitiga’s blog post. “We have concerns this may be a phenomenon, rather than an isolated occurrence.” Malware on AWS Marketplace Unfortunately, the AWS marketplace allows anyone to sell virtual services on its marketplace. Although the marketplace is full of verified vendors, it also contains offerings from unverified community members. Mitiga discovered that one community member was selling a Windows 2008 virtual server that secretly used the computing power of anyone who downloa

 


Mitiga, an incident readiness and response company, has discovered that a product available on Amazon Web Services Marketplace contained Monero mining malware. Mitiga published their findings, noting that they discovered the malware when conducting a security audit for a financial services company.

"Mitiga's security research team has identified an AWS Community AMI containing malicious code running an unidentified Monero crypto miner," according to the Mitiga's blog post. "We have concerns this may be a phenomenon, rather than an isolated occurrence."

Malware on AWS Marketplace
Unfortunately, the AWS marketplace allows anyone to sell virtual services on its marketplace. Although the marketplace is full of verified vendors, it also contains offerings from unverified community members.

Mitiga discovered that one community member was selling a Windows 2008 virtual server that secretly used the computing power of anyone who downloaded it to mine Monero in the background. Although it may come as a surprise that Monero mining malware was present on Amazon's AWS Marketplace, Amazon's policy clearly states that:

"Amazon can't vouch for the integrity or security of AMIs shared by other Amazon EC2 users. Therefore, you should treat shared AMIs as you would any foreign code that you might consider deploying in your own data center and perform the appropriate due diligence. We recommend that you get an AMI from a trusted source."

Reducing the attack vector
To avoid falling victim to malware that might live within community offerings on the AWS marketplace, Mitiga recommends "verifying or terminating these instances [unverified offerings], and seeking AMIs from trusted sources"

"As AWS customer usage is obfuscated, we can't know how far and wide this phenomenon stretches without AWS's own investigation," said Mitiga. "We do however believe that the potential risk is high enough to issue a security advisory to all AWS customers using Community AMIs."

IRS sends new batch of ‘crypto letters’ to taxpayers

 



The Internal Revenue Service (IRS) has sent another batch of its infamous "crypto letter" to individuals suspected of owning digital currency, urging them to correctly report the details of their transactions.

The news emerged after users of digital currency tax service CoinTracker.io reported receiving letters from the IRS, one of which was subsequently published on the CoinTracker blog. In a blog post CoinTracker said "[i]t has come to our attention from CoinTracker users that the IRS has started sending out another wave of cryptocurrency tax warning letters to U.S. crypto users."

The mailout was also reported in Bloomberg, which confirmed with the IRS that the letters had indeed been sent to more suspected digital currency holders.

As first emerged in 2019 when the tax service began issuing digital currency letters, there are three different types of letters being published—each indicative of the degree to which the IRS thinks individuals are underreporting digital currency transactions.

One of the letters in particular, Letter 6173, is issued to those that could foreseeably be subject to a taxpayer audit, representing the highest degree of confidence of underreporting from the tax agency.

The IRS is known to be extending its focus on digital currency, and in particular on tax evasion around trading and speculation. A tax summit held back in March outlined much of the agency's thinking on digital currency, where it was suggested that the agency wanted to do more to tackle those currently underreporting their digital currency dealings.

The news will come as a concern to those trading in digital currency, indicating a heightened level of IRS oversight over individual actions in and around digital tokens.

It comes at a time of increasing efforts globally to bring more transparency to digital currency transactions, and to ensure those engaging in trading are discharging their tax liabilities honestly.

Friday, August 7, 2020

Story from News Goldman Sachs Eyes Own Token as Bank Appoints New Head of Digital Assets

 


Goldman Sachs is seriously considering its own cryptocurrency, possibly a stablecoin, as it significantly expands its digital assets team and appoints a new head to spearhead efforts.
  1. Matthew McDermott, Goldman's new digital asset global head, confirmed the U.S. investment bank was exploring whether to launch its own digital asset, CNBC reported Thursday.
  2. "We are exploring the commercial viability of creating our own fiat digital token, but it's early days as we continue to work through the potential use cases," he said.
  3. Last month McDermott hired Oli Harris as head of strategy. Harris was instrumental in JPMorgan's blockchain, Quroum, as well as its settlement coin, JPMCoin.
  4. McDermott said he is already looking at how blockchain can make savings in the inefficient repurchase, or "repo", market used by banks to lend money to one another, as well as credit and mortgage markets.
  5. He also said Goldman might consider collaborating with its rival, JPM, as well as Facebook on future digital asset initiatives.
  6. McDermott said he plans to significantly expand Goldman's digital asset team, including doubling headcount in both Asia and Europe.

Previously on Goldman Sachs
Goldman Sachs held an investor call Wednesday to discuss current policies for bitcoin, gold and inflation in the context of the COVID-19 crisis. The big takeaway? The stalwart investment bank is still no fan of bitcoin or other cryptocurrencies.

A slideshow released before the call cited hacks and other losses related to cryptocurrencies as well as their use to "abet illicit activities" as some potential liabilities.  

Seven of Goldman's 35 slides mention bitcoin, but the people on the call only discussed bitcoin for roughly five minutes at the end, with no questions taken after.

In the call materials, Goldman notes that while cryptocurrencies like bitcoin "have received enormous attention," they "are not an asset class."

Why? The reasons include bitcoin's inherent lack of cash flow, unlike bonds, and its inability to generate earnings through exposure to global economic growth, according to the presentation. Goldman also notes bitcoin's volatility, citing the recent drop to 12-month lows in early March. The price spiked nearly 5% to $9,200 a few hours before the call.

Some professional cryptocurrency analysts were less than impressed by Goldman's analysis. "The criticisms were very cookie cutter, the type you'd expect if someone just read mainstream headlines," said Ryan Watkins, bitcoin analyst at Messari and former investment banking analyst at Moelis & Company. "It's like they didn't fully diligence the asset."

Goldman's cash flow argument was particularly odd to Tom Masojada, co-founder of OVEX Digital Asset Exchange.

"Many investments that Goldman labels as 'suitable for clients' do not generate cash flows and are primarily dependent on whether someone is willing to pay a higher price at a later date," he said on Twitter.

"One could argue bitcoin isn't backed by anything, but to liken it to a game of hot potato ignores the subjective value such a novel asset provides," said Kevin Kelly, former equity analyst at Bloomberg and co-founder of Delphi Digital, a cryptocurrency research firm that recently published a comprehensive report on bitcoin.

Bitcoin's current value, according to Kelly, is backed by "the demand for an apolitical speculative asset that may or may not turn out to be one of the world's most valuable safe havens."

The two Goldman speakers on the call, its head of research and a Harvard economics professor, said several bitcoin forks, which they refer to as "nearly identical clones," occupy three of the six largest cryptocurrencies by market value. With this, Goldman inferred that cryptocurrencies as a whole "are not a scarce resource," according to the presentation.




Antminer shipping faces delay as Bitmain founders’ row continues

 

SIC hardware manufacturer Bitmain has delayed the shipping of its block reward miners. An announcement posted on WeChat by the Antminer Sales Team—allegedly under the control of Jihan Wu—confirmed that the Chinese company has delayed all shipments by roughly three months due to "external interference over the company's management."

To compensate for the shipping delays, Bitmain is offering its customers one of two compensation packages. Customers can send Bitmain a written request to expedite the delivery of their digital currency mining hardware. If the customer does not hear back within 60 days of submitting their written request, then they will be eligible to receive a refund on their purchase from Bitmain.

Alternatively, they can also wait for their mining equipment to be delivered to them, however long that may take. In addition, the customer will receive a 'coupon equivalent' that is equal to the amount of revenue that they theoretically would have received if their mining hardware shipment was not delayed and they had been mining all along. The Antminer Sales Team says that this coupon could then be used on the customer's future purchases with Bitmain.

Are lawyers involved?

The Antminer Sales Team's recent announcement indicates that the battle between Jihan Wu and Micree Zhan for control of Bitmain might be being resolved by lawyers. When it was rumored that Micree Zhan was blocking Antminer shipments to Bitmain customers, Jihan Wu's immediate response was that he would be solving the problems created by Zhan through "legal channels." With the Antminer team saying that there is currently external interference over the company's management, it may very well be the case that the battle for control is now being settled in court.

The confirmation of the delayed shipping is the latest development to take place in the on-going feud between Zhan and Wu.