Author: Brandon Moss

You may have seen Bitcoin in the news more often lately

The value of bitcoin has risen sharply and the price regularly reaches new record prices, but that does not only apply to Bitcoin. Ethereum’s brother has also grown rapidly lately, as can be seen from the Ethereum price, but what is Ethereum actually?

What is Ethereum?

Bitcoin is a so-called cryptocurrency, or a type of encrypted digital currency. Transactions with bitcoin are stored on a network of thousands of computers without the involvement of third parties. This network is called a blockchain and is a kind of decentralized ledger. All computers run the same version of this ledger, which means that data cannot be changed and the network is insensitive to censorship.

Numerous cryptos have been created since the inception of bitcoin, and while bitcoin is still the largest, interesting developments may be found on Ethereum. Renovato.io has enough information. Ethereum has smart contracts, which are special digital contracts that are automatically executed if certain agreements are met in advance. This ensures that a transaction is executed anyway and these contracts open the doors for all kinds of decentralized applications, or dApps.

The unfolding of Ethereum

Ethereum has grown rapidly in recent months, partly due to some major developments taking place on the decentralized network. Some of the most important are described below.

Decentralized Finance (DeFi)

One of the biggest developments is the rise of decentralized finance, or DeFi. DeFi is a collective term for a series of new financial applications. It is a transparent decentralized financial ecosystem that makes financial services, such as taking out loans, accessible to everyone without the involvement of an intermediary, such as a bank.

This new market allows people to lend crypto to each other by securing it as collateral in smart contracts. They can then earn high percentage returns on this locked crypto. This new market exploded in the summer of 2020 and is growing so fast that 100 billion euros is now tied up as collateral in DeFi products.

Non-fungible token (NFT)

This year we see a new market emerging quickly with Ethereum, namely that of non-fungible tokens, or NFTs. Unlike other digital currencies, an NFT cannot be exchanged. This means that each token is unique and that provides all kinds of new possibilities.

For example, it is now possible to sell works of art as NFT. The NFT is then linked to a unique code on the Ethereum platform and serves as a kind of proof of authenticity that can be verified by anyone via the blockchain. Several celebrities have already sold NFTs worth millions. The digital artist Beeple sold an NFT artwork for no less than 58 million euros!

Institutional Adoption

In recent months, we have seen the professional investment world increasingly embrace Bitcoin and gradually the same is happening with Ethereum. In February 2021, the Chicago Mercantile Exchange (CME), the largest derivatives exchange in the world, launched Ethereum futures contracts. In April, the first-ever publicly traded Ethereum funds, or ETFs, were approved. In addition, we see more and more large companies investing in Ethereum and we even see payment companies such as PayPal and Visa using this crypto.

Ethereum 2.0

Perhaps one of the biggest developments on Ethereum in the past year was the launch of Ethereum 2.0. Ethereum is becoming so popular that the network is struggling with the huge crowds and transaction costs regularly skyrocket as a result.

Ethereum wants to solve this problem by switching to a new blockchain network, but it could take several years before this switch is complete. Visit moveco.io has enough information. Nevertheless, the first steps have already been taken successfully and there is already more than $10 billion worth of ETH in the contract for Ethereum 2.0, indicating that there is a lot of confidence.

Ethereum price

Then of course we are talking about one of the most popular topics in the crypto world: the price. One could buy one ethereum last year for about 85 euros. A year later, the ethereum price has broken through 2,000, which is an increase of no less than 2,250% in one year. Who knows how high the price could be in a few years!

Bitcoin price corrects, pulls altcoins like XRP, cardano and dogecoin down, but are we already seeing a recovery?

After a week of price increases, we now see a small correction. A dip causes most cryptocurrency prices, with a few exceptions, to turn red today. The market seems wary of a bill in the United States that uses a very broad definition of “broker”. Attorney Jake Chervinsky explained the situation on Twitter last weekend.

The total market cap of crypto fell from $1.72 trillion to $1.64 trillion last night. Still, several prices are starting to rise again this morning and the market capitalization is at $1.68 trillion, but will this recovery continue right away?

Bitcoin (BTC)

Bitcoin (BTC) peaked at around USD 42,630 on Sunday morning, but then fell back to USD 41,500 and then slowly sank towards USD 41,000. Shortly after midnight, however, the price suddenly plunged sharply from $41,100 to $39,500, a drop of nearly 4%. XRP Ripple is well known in crypto.

Bitcoin was then able to hold out at around $39,800 overnight, which could mean a higher low. This morning the price rose briefly to $ 40,600 but immediately ran into resistance. At the time of writing, bitcoin is falling back to $40,000. The question now is whether this $40,000 can be a new bottom so that we can see a resumption of the bull run soon with a retest of $42,000. However, after turning green for 10 days in a row, a further downward correction should come as no surprise.

altcoins

Ethereum (ETH) price decoupled from bitcoin over the weekend, but the correlation is now starting to pick up again. Initially, the ether price shot up quite a bit last night and briefly touched $2,700, but was rejected there. Shortly after midnight, ether also plunged hard, falling 5.6% from $2,675 to $2,525. Ether then rebounded to USD 2,550 and this morning the price shot up again to USD 2,630, but has fallen back to USD 2,600 at the time of writing. Nevertheless, ether is one of the only prices in the plus compared to 24 hours ago.

Further in the top 10, polkadot is the only one besides ether that turns green today. The DOT price rose to $19.7 last night, but fell sharply last night to reach $17.65 this morning. This morning DOT makes another jump up to $18.5, which means that the price is still slightly in the plus compared to 24 hours ago. UNI Uniswap is well known in crypto.

However, the rest of the top 10 turns red. Ripple (XRP) fell hard last night, made a big jump this morning, but is now falling again and is therefore 2% in the red compared to yesterday. Binance coin (BNB) and cardano (ADA) are 2.5% in the red today. Dogecoin (DOGE) saw no recovery at all this morning and is therefore 6% in the red this morning.

Outside the top 10, we see siacoin (SC) correcting sharply downwards. Siacoin shot up sharply on Sunday and this correction does not necessarily mean the end of its rally. Some crypto rates are also turning green today. For example, digibyte (DGB) is 7% in the plus, terra (LUNA) 8%, bitcoin gold (BTG) 8.5% and bitcoin cash abc (BCHA) is experiencing a significant rally. The BCHA rate is 30% in the plus today and even 120% compared to a week ago.

Hacker group Avaddon quits and releases decryptor, how do you protect against these hacker groups?

Hacker collective Avaddon is throwing in the towel. Its Tor page’s are no longer accessible, signaling that its members are no longer conducting ransomware attacks. Also, the group has released nearly 3,000 decryption keys. Victims can use these to unlock encrypted data. This writes BleepingComputer. The cybersecurity site has tested a decryptor on a virtual machine and confirms that the keys are authentic. Security experts from Emisoft and Coveware also confirm that the keys are legitimate for the ExpressVPN avis.

A decryption key for all

BleepingComputer says it received an anonymous tip from someone who claimed to work for the FBI. The message contained a password and a link to ZIP file that was password protected. According to the description, the file contained decryption keys for the Avaddon ransomware. To make sure it was not a scam or hoax, the editors tested a key. And indeed, encrypted files became accessible again. In total, the ZIP file contained 2,934 decryption keys, a decryptor for all of Avaddon’s victims. Cybersecurity company Emisoft has released a decryptor that all victims can use to recover their data for beste VPN for tilgang til Netflix.

This is what you need to know about Avaddon

Avaddon has been operating since June 2020. It all started on a small scale with phishing messages. These emails contained only an emoji of a puppet that winked and included a malicious attachment. In the months that followed, Avaddon grew into one of the larger hacker groups that carried out ransomware attacks but you could have used Express VPN Recenzja.

One of Avaddon’s most recent victims, is AXA. In mid-May, hackers managed to penetrate the insurance company’s IT systems with hostage software and steal three terabytes of data. This included copies of passports and ID cards, contracts, customer claims, hospital files on fraud investigations, medical reports with sensitive information about patients, bank account information, payments to customers and other financial data.

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