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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

Blockchain

ETC Cooperative, IOHK publish analysis on preventing 51% attacks

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Blockchain research and development startup IOHK, and Ethereum Classic Cooperative today announced a collaboration to provide ETC community with solutions that aimed to improve security of the network, especially after ETC had been 51% attacked three times already. In a release shared with AMBCrypto on Tuesday, the two entities analyzed the vulnerability of the ETC network to 51% attacks, and found that the Checkpointing and Timestamping solutions would provide “proven” security against such attacks.

While the Checkpointing service ensures that the protocol remains unaltered with regards to mining, Timestamping further decentralizes the process by relying on Bitcoin. ETC miners would have to run a full Bitcoin node to retrieve and verify timestamps, as well as own some BTC to create timestamping transactions.

In a report, the analysis revealed flaws in the ETC Labs-proposed ‘MESS’ solution. After suffering three 51% attacks in August, ETC had implemented the Modified Exponential Subjective Scoring (MESS) system to mitigate 51% attacks that were taking place on the network:

Charles Hoskinson, CEO of IOHK, stated:

We believe that challenging times call for collaboration, not competition, which is why this paper isn’t just for the ETC community, but is designed to educate the wider crypto community on how to mitigate against future attacks on other proof of work chains. The blockchain space is not only large enough to sustain collaboration, but actually needsincreasing levels of collaboration in order to reach its goals of widening and democratising global access to financial services.”

Bob Summerwill, Executive Director of the Ethereum Cooperative, said:

We hope this analysis, along with the proposed decentralized treasury, is the first step in a move away from centralised leadership and decision-making, to a model which uses the multitude of talented brains in the ETC ecosystem, allowing technical and other ecosystem proposals to be essentially peer reviewed, improving them and ensuring they are sound.

Source: https://eng.ambcrypto.com/etc-cooperative-iohk-publish-analysis-on-preventing-51-attacks

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Blockchain

Chainlink, Cosmos, VeChain Price Analysis: 20 October

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Despite an uptrend witnessed during the morning session and gains recorded by Bitcoin, the cryptocurrency market sustained heavy losses as most of the digital assets were painted in red towards the day’s end.

Chainlink was down by almost 4.5% at press time with the digital asset seen hovering just above its immediate support level.

The bearishness in Cosmos and VeChain however was even more prominent, with both recording a loss of over 6% over the last 24 hours, with some scope of bearish weakness for Cosmos visible on its chart.

Chainlink [LINK]

Source: LINK/USD on TradingView

Over the last 24-hours, Chainlink fell by 4.55% driving its price to $10.464. At the time of writing, the digital asset registered a market cap of $4 billion and ranked 7th according to messari.io.

The bearish scenario was also visible through its Chaikin Money Flow Indicator. CMF failed to retain its position above the zero-line and dived below it, indicating pressure on buy liquidities, as the capital quickly flowed out of the LINK market.

The Relative Strength Index too continued to tread well into the oversold territory, depicting extremely low buying pressure in the LINK market.

Given the strong selling pressures, a scenario of price stability above the $10.256 support level will be required to stall the bearishness over the next few days.

Cosmos [ATOM]

Source: ATOM/USD on TradingView

Bears appeared to have gained an upper hand in the Cosmos market as well, with the digital asset recording 6% in losses since yesterday.

The MACD histogram closing with red bars and both the MACD and signal lines below the zero line depicted the presence of strong negative momentum in Cosmos.

In fact, in a bearish move, prices had quickly dropped down to the 78.6% retracement region or the $5.2 support level marked by the Fibonacci retracement tool

If the bears gain strength and manage to breach below the 78.6% retracement level, it could push down the prices further, although a bounce above this level seems more likely.

VeChain [VET]

Source: VET/USD on TradingView

The VeChain market was down by almost 6% since yesterday, witnessing a drop below two of its resistance turned support levels.

The bearishness was further visible from its 20 and 50 period simple moving averages. The 20 SMA in a bearish crossover dived below the 50 SMA, with the bears further not respecting either of the short- or longer-term price trends.

Aroon indicator also clearly confirmed the extremely bearish scenario with the Aroon Up (orange) lying beneath the Aroon down (blue)

If the negative trend continues, VeChain bears could further target its immediate support level at $0.0105.

Source: https://eng.ambcrypto.com/chainlink-cosmos-vechain-price-analysis-20-october

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Bitcoin Price Will Skyrocket as Markets Riddled by Election Uncertainty, Analyst Says

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Octavio Marenzi, founder and CEO of capital markets consultancy firm Opimas LLC, recently predicted that the current economic situation will shoot Bitcoin’s price “through the roof.”

Simultaneously, he suggested that the traditional financial markets will suffer as the COVID-19 fears grow.

Opimas CEO: Bitcoin Will Shoot Through The Roof

Appearing on RT’s Boom Bust, Marenzi was asked about the current state of the financial world and his prediction by the end of the year. He seemed somewhat cautious in providing precise numbers. Nevertheless, the CEO of Opimas outlined four factors that he believes drive the markets now.

According to Marenzi, those are the growing spread of the coronavirus, the stimulus deal proposed by the US government, the Federal Reserve’s policy, and the 2020 US presidential elections. He emphasized the importance of the upcoming vote as “people are starting to get nervous about that.”

The elections’ unknown developments could lead to a “messy” outcome, resulting in even more concerns among investors. Such circumstances could prompt severe price drops within traditional financial assets. However, Bitcoin might emerge as the winner.

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“There’s a substantial chance that it’s going to be a contested election and will be very, very messy indeed. We will see the markets overall trending down, while things like Bitcoin shooting through the roof.”

Opimas CEO Octavio Marenzi
Opimas CEO Octavio Marenzi. Source: CNBC

COVID-19 Second Wave To Damage The Markets?

Once reports started emerging in early 2020 that a new virus coming from China was infecting people, the financial world took a beating. The worst came in mid-March during the so-called liquidity crisis, which saw massive price slumps among all assets.

The markets have mostly recovered since then, but the COVID-19 pandemic hasn’t disappeared. In fact, it seems that the dreaded second wave has just begun to develop. The number of confirmed cases grew above 40 million on Monday.

Several countries, mostly in Western Europe, have brought back some of the strict restrictions. Those include even full lockdowns.

Apart from health concerns, this also raises worries among investors. Bitcoin was not exempt from the first price drops, as it plummeted by over 50% in a day.

However, BTC is among the best-performing assets on a yearly-scale, with its 65% increase. Should Marenzi’s words materialize, the primary cryptocurrency could see even further long-term price appreciation.

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Source: https://cryptopotato.com/bitcoin-price-will-skyrocket-as-markets-riddled-by-election-uncertainty-analyst-says/

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