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Parity Technologies Awarded $5 Million Grant from Ethereum Foundation

London-based Parity Technologies has won a $5 million grant from the Ethereum Foundation to fund its work on improving the Ethereum blockchain, such as developments in Casper, sharding, light clients, developer tools, audits, and general infrastructure. Parity to Receive Funding in Tranches The foundation announced the grant via a blog post on Jan. 7th, explaining the funding will be supplied in “several tranches” to Parity. The first tranch is supposed to cover costs incurred while developing protocols that have been completed, while the remaining tranches are each scheduled for delivery upon completion of a main net light wallet, compatibility work on assembly standard eWasm, and Phase 0 and Phase 1 of sharding. Supplying funding in a tranch-based structure is an absent feature of the crypto-markets, losing favor to lump sum capital generated via ICOs. However, awarding grants on the completion of each individual project is a forward-thinking move on the foundation’s part, ensuring rewards are evenly distributed while the team does not fall into the trap of a financial “comfort zone.” Parity’s products are a significant part of the blockchain ecosystem. The firm boasts of developing ‘Parity Ethereum,’ a client for running protocol nodes and full-nodes. Substrate, a tool for creating customizable blockchains, and Polkadot, an inter-blockchain messaging and data transfer protocol. In a publicity move for Substrate last year, Parity founder Gavin Wood demonstrated the creation of a blockchain in 15 minutes flat, even tearing off a brand new laptop’s bubble wrapping in the process to prove the protocol’s speed. Meanwhile, Parity has not been shy of controversy. In November 2017, a Parity wallet user locked away over $280 million worth of ETH after exploiting a vulnerability in the product’s underlying smart contracts. The issue was visited again in April last year, when tokens were worth nearly $360 million, in a week-long voting process that aimed to reverse the incident based on majority consensus. 55 percent of participants voted against a reversal, leaving the funds locked inside the wallet. The post Parity Technologies Awarded $5 Million Grant from Ethereum Foundation appeared first on CryptoSlate.
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Parity Technologies Gets a $5 Million Grant from the Ethereum Foundation

Parity Technologies, the company behind one of the fastest Ethereum clients on the market, has secured a $5 million grant from the Ethereum Foundation to increase scalability, usability, and security of their product, the foundation announced on its website on January 7, 2019. A New Ethereum Foundation Grant Goes to Parity The Ethereum Foundation has announced a $5 million grant...Read More. The post by Priyeshu Garg appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Ethereum Foundation announces $5 million grant to Parity Technologies

Ethereum Foundation, the key player behind the development of Ethereum, announced a grant of $5 million to Parity Technologies. The grant is regarding the company’s work pertaining to the scalability, usability and security of Ethereum network, the main aspects of Ethereum 2.0. Parity has been one of the notable teams working towards the betterment of the Ethereum ecosystem. The team is also responsible for Parity Ethereum, the fastest and most advanced Ethereum client. The Foundation stated that this grant is for the team’s work on Casper, Sharding, light clients, QA, audits, infrastructure improvements, and developer tools. On their official Medium blog, the Foundation said: “By all metrics, Parity is a major technical contributor to the Ethereum project, and they’ve notably done so as a self-financed and open-sourced effort since their founding.” The Foundation stated that the grant program focuses on funding teams and individuals working on scalability, usability and security. The Foundation went on to state this as the reason they “couldn’t think of a more applicable fir for a grant.” This is taking Parity’s work towards hitting new technological advancement and their focus on proof-of-stake, sharding, and WebAssembly, into consideration. Additionally, the Foundation will not be granting the $5 million to Parity in one go. The Foundation will be awarding grants in four different stages, with the first grant already awarded to Parity. The foundation will be awarding the next grant only after the company marks a new milestone, the completion of eWasm compatibility work. The other two milestones laid down by the Foundation include shipping a light wallet for mainnet and the successful completion of Phase 0 and Phase 1 of sharding. Dinuxen Sha, a Twitterati said: “Any advantages to the #ethereum network from this grant ?” To this, Vitalik Buterin, the creator of Ethereum replied: “No. The grant will of course only cover development of Parity Bitcoin.” Eric, another Twitterati said: “Errrr . So ETH foundation Giving money to founders of Parity Tech whom also worked at ETH Foundation. #cronycapitalism . Just proves how ridiculous, BSing, and greedy ETH types are” The post Ethereum Foundation announces $5 million grant to Parity Technologies appeared first on AMBCrypto.
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BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of Descryptive.com via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
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Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
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Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on Bitcoinist.com.
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