Here steemians!!..
Another Bad News Recorded on Almighty Ethereum Network...
This getting worse everyday.. First was Russian Attack.. Now it's Ethereum. Am really scared this time!!
Bad news for ETHEREUM
Chinese cybersecurity company Qihoo 360 reported an attack on the Ethereum network. The attack resulted in $20 million stolen from misconfigured Ethereum clients. Hackers have been using a vulnerability with exposed Remote Procedure Call (RPC) interface on port 8545. The news of the hack potentially served as a secondary factor contributing to the recent negative market trend of the Ethereum price.
CRYPTO TRENDS:
Crime in the Cryptocurrency World:
Who to Protect Your Wallets From?
The total amount of stolen cryptocurrency in just the first six months of 2018 was $1.1 billion. What next?
Read More >
CRYPTO EDUCATION:
How Much Electricity Does the Bitcoin Blockchain Consume?
As of this writing, the BTC network consumes 2.55 GW, but in the future, this figure may increase up to 7.67 GW. For comparison, Ireland consumes 3.1 GW, and Austria—8.2 GW.
But what about traditional payment methods?
Electricity costs needed to process a Bitcoin transaction are 20,000 times higher than those for a Visa transaction. The latter requires .01 kW (10 W). For example, to process one Bitcoin transaction that may cost you nothing at all, 200 kW of power is needed. The same amount of electricity is enough to run 200 washing machine cycles.
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