Ethereum Scaling and Gas-Free Transactions Arrive

Ethereum 2.0 is expected to launch within months, but new scaling solutions and gas-free transactions are already here. The network is also growing more popular, with the number of active wallets more than doubling since January to around half a million. Synthetix scales up optimistically The developers behind the second-largest DeFi protocol, Synthetix, have partnered with Ethereum layer-2 research team Optimism to launch a demo deployment of Synthetix Exchange on the Optimistic Virtual Machine (OVM). Optimism’s OVM is a layer-2 scaling solution designed to allow DeFi financial platforms to operate…

Despite Lacking Momentum Above $9k, Bitcoin Holders Are Safe: Here’s Why

Bitcoin is struggling to gain bullish momentum above $9,000 against the US Dollar. BTC must climb above $9,200 to set the stage for a rally towards $10,000 in the near term. Bitcoin is trading in a broad range below the key $9,200 resistance zone. The price is consolidating above $8,800 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either surge above $9,200 or it might…

Craig Wright Accused of Plagiarism Again

The man who claims to have written the Bitcoin whitepaper has been accused of committing plagiarism again, this time in his doctoral thesis. PaintedFrog, the pseudonymous writer who previously accused Dr. Craig Wright of plagiarizing his 2008 law degree dissertation for Northumbria University, has posted his analysis of Wright’s 2017 PhD thesis from Charles Sturt University (CSU). The blogger posted purported screenshots of Wright’s thesis, “The Quantification of Information Systems Risk: A Look at Quantitative Responses to Information Security Issues,” alongside several other publicly available sources. Cointelegraph contacted Dr. Wright…

Blockstream’s Satellite Network Now 25X Faster

Blockstream has just upgraded their satellite network that carries the Bitcoin blockchain for the first time in almost two years. The data rate is now 25 times faster and users can sync an entire node without connecting to the web. The Blockstream satellite service provides internet-free Bitcoin (BTC) transactions and information sharing to crypto users in nearly every corner of the world. The company has leased six geostationary satellites which are used to broadcast the blockchain to Africa, Europe, South and North America, and the Asia Pacific region. According to…

Former Bank of China President Says Digital Yuan Can Replace Cash

Former Bank of China President, Li Lihui, has revealed the launch of the digital yuan is imminent, and that the currency can replace cash if four key conditions are met.  The central bank digital yuan is currently in the test phrase and is generating excitement among Chinese internet users. Searches on the impact of the digital yuan and cryptocurrency in general has skyrocketed in recent times.   Lihui gave a live streaming talk on People’s News on May 5 and explained that unlike WeChat Pay and Alipay, the digital yuan is…

Key Signs Show There’s a “Good Chance” Bitcoin Is Fully Bullish

Since hitting $9,500 last week, Bitcoin has entered a consolidation pattern around $9,000. The cryptocurrency has traded between $8,700 and $9,200 for days, failing to decisively break out of this range. Some say this is indicative of a market top. Yet others believe Bitcoin is poised to rally even higher, citing technical signals. One analyst even said that considering a specific indicator, there’s a “good chance” BTC is fully bullish. Bitcoin Could Be Fully Bullish: Top Analyst Since the lows in March, Bitcoin has entered a very steep recovery. Just…

New Breed of Ransomware Threatens to Expose Victoria’s Secrets

A series of ransomware attacks over the past week affected medical care, hundreds of thousands of parcel deliveries during the pandemic — and even a lingerie manufacturer. Attackers are threatening to leak sensitive data if companies fail to make the required payments. ITNews reported that the Australian logistics giant Toll Group suffered its second ransomware attack so far this year, with a type of ransomware known as “Nefilim.” Toll Group had shut down its IT system after detecting “unusual activities.” The company — responsible for delivering many hundreds of thousands…

Here’s Why Oil Prices Will Never Recover

This rally can only go so far as supply concerns threaten to sink oil prices once again. Even as economies reopen, demand for oil will remain depressed. The OPEC+ cuts weren’t enough to offset weak demand. Last month when oil prices fell to the horrifying low of -$42 per barrel, investors started to worry about looming oversupply issues. Simply put, the world is running out of places to store the stuff as coronavirus lockdowns weigh on demand. But this week we saw prices start to rise, and Donald Trump was…

A Quarter Million Deaths Later, Dutch Team Finds Coronavirus Blocker

A Dutch team may be on to a cure for the SARS coronavirus. In a report published Monday, researchers say they’ve stopped the virus from spreading in cell cultures with a potent antibody. Many lives and an economic recovery hang in the balance as scientists race for a safe, effective coronavirus treatment. Since spreading from an animal “reservoir” within the ecosystem to humans, the coronavirus or SARS‑CoV has caused over 250,000 deaths. Biotech companies and university labs have been racing to find a vaccine or antiviral treatment. Now a team…

Severe Disney Earnings Miss Is About To Ruin The Dow’s Week

Disney just posted a harrowing earnings miss for quarter one. Its stock fell in after hours trading, along with Dow futures and ETFs. The stunning report could shell shock the Dow the rest of this week. Disney badly missed Wall Street expectations in its first quarter earnings report. That is likely to drag down Disney stock (NYSE:DIS) and the Dow Jones after the benchmark rallied Monday and Tuesday. Disney shares didn’t share in the rally. Even on Star Wars Day (May the Fourth be with you!), DIS took a 2.08%…