Dr. Ingo Fiedler: IOTA could rise to 3rd place

In an interview with Bundesdruckerei, Dr. Ingo Fiedler was bullish about IOTA. In his opinion, the chances are good that a crypto currency based on a direct acyclic graph (DAG) like IOTA could prevail. Plans for an ID card based on the tangle became known.

IOTA and its tangle are still controversial in the Bitcoin evolution

While some are celebrating the ability to innovate and above all the idea behind the currency for the Internet of Things, there are always critics who criticize the centrality of the Bitcoin evolution system. The current status of the tangles ultimately still makes it necessary for there to be a „coordinator“ to stabilize the tangle behind, under and around IOTA. (More about IOTA here and the Tangle here).

Nevertheless, numerous companies are convinced of the future potential of the technology around the initiators Dominik Schiener and David Sønstebø. In addition to partnerships with industrial giants such as Bosch, Microsoft and Volkswagen, the team recently announced a cooperation with Taipei, the capital of Taiwan. Together with the Information Technology Department and Startup BiiLabs, the Foundation is now working on a way to manage identity on the Tangle. This should make it possible to handle identity data more confidently. In addition, the city hopes to achieve a more transparent and secure administration of data.

To achieve this, they are relying above all on the Tangle, the technology behind IOTA. Instead of a blockchain, this is an acyclic graph in which transactions can be processed synchronously. In this way, the technology promises better scalability and the possibility of making microtransactions in the area of things possible.

Bitcoin evolution Research Commentary

It is precisely these advantages that convince Dr. Ingo Fiedler of the University of Hamburg: https://www.geldplus.net/en/bitcoin-evolution-review/. In an interview with bundesdruckerei.de he says that IOTA has the potential to become one of the top 3 Bitcoin evolution crypto currencies behind Bitcoin and Ethereums Ether. On the question, which in his opinion the most important crypto currencies are, he therefore gives the following answer:

„[…] of the currently available crypto currencies, I think only three will develop. These are Bitcoins, which are technically clearly inferior, but have the greatest network effect, and Ethereum, which will play a role in company financing and offers „smart contracting“ opportunities.

When asked which is the third important crypto currency in the alliance, Dr. Ingo Fiedler talks about the technology behind IOTA:

„This is a currency that is based on a Directed Acyclic Graph (DAG) – quasi a multidimensional blockchain – and is highly scalable. The first DAG-based currency to be mentioned here is IOTA, which, in contrast to the „normal“ blockchain, functions all the better the more transactions are made.“

The IOTA price is currently on a similar downward slide to Bitcoin and Ethereum. With an IOTA rate of 0.99 euros, the crypto currency is currently at a 24-hour loss of 4.81 percent. In addition, the figures are also red in the weekly review – here you can see a loss of just under 16 percent. In the monthly process this makes a loss of 33 percent. (As of 18.06.2018 12 o’clock).

European Blockchain Platform Stratumn receives 600.000 Euro

Stratumn is the first French company in the blockchain industry to receive a hefty financial injection of 600,000 euros. The money will be used to further develop and promote the platform.

The financing round was led by the French venture capitalist Otium Capital. Among others, Ledger CEO Eric Larchevêque was also involved. The cash injection allows the platform to grow from 5 to 12 employees and to further expand its position as a leading company for blockchain solutions in France and Europe.

Stratumn was founded in Paris by the Californian software engineer Richard Caetano and Stephan Florquin – both have been working with Bitcoin and Blockchain technology since 2011. Previously, Caetano developed the well-known Bitcointicker App btcReport and wrote the book „Learning Bitcoin“. Floriquin was previously Chief Developer at Paymium, one of the leading French Bitcoin exchanges.

Stratumn CEO Caetano explains what led him to establish his Bitcoin evolution company in Paris

The fertility of the French startup scene, the quality of the engineers and the support of the public institutions have made France an ideal place for my startup: https://www.onlinebetrug.net/en/bitcoin-evolution/

The Blockchain protocol first appeared in the course of the Bitcoin evolution publication of the digital currency Bitcoin in 2009. The technology allows decentralised databases that are infallible and transparent. With the latest computer technology, the blockchain has the potential to turn entire sectors such as the financial sector, the public sector, the health sector or the art industry upside down.

Stratumn gives companies simplified access to the technology and helps developers integrate Bitcoin and Blockchain solutions into their own businesses. The platform offers its own API interface and a variety of tools, including:

the irrefutable proof of the existence of documents
the safeguarding of business processes
as well as the output of digital valuables
The startup has also developed its own standard called Chainscript. This is used to record data and workflows and at the same time uses the ability of the blockchain to generate digital fingerprints to create unchangeable evidence for the existence of documents.

The Platform As a Service (PaaS) provides flexible pricing for individual developers or large enterprises

„Stratumn is the first French company to offer a solid blockchain developer product. The PaaS platform offers many opportunities for business process management,“ says ledger CEO Éric Larchevêque.

„The ability to build trust without an intermediary central authority has the potential to influence entire industries. Many will wonder what raison d’être some companies have, whose only task so far has been to provide the necessary trust as a third party,“ said Bruno Raillard, Partner at Otium Venture.

Developers interested in the Stratumn API can submit a request for an invitation to the platform on Stratumn.com. So far, an invitation only works with Invite-Only.

Crypto-Hacks: Lazarus Group alleged to have captured 571 million US dollars

According to the Russian IT security company Group-IB, hackers of the Lazarus Group have managed to steal assets from crypto exchanges with a total value of 571 million US dollars since the beginning of 2017. The attacks are attributed to the North Korean government.

According to the annual report „Hi-Tech Crime Trends 2018“ of the Moscow IT security company Group-IB, Lazarus is apparently the most successful hacker group when it comes to attacking crypto exchanges around the world to tap their digital assets. Since the beginning of last year, the hackers controlled by the North Korean government have allegedly stolen wallets of various crypto currencies worth a total of 571 million US dollars. That is the equivalent of around 495.43 million euros. The cyber criminals have their sights set on the online trading centres in South Korea and Japan. The report is not yet publicly available. However, the news portal TNW already reported in advance that in 2017 and 2018 together, asset shares worth 882 million US dollars were stolen. The Lazarus Group is said to be responsible for the lion’s share of these virtual thefts.

Phishers stole 56 percent of all captured ICO wallets

Hackers in this sector mostly use traditional methods such as spear phishing, social engineering and malware. With Spear Phishing, the targets are emails. They look as if they came from a trusted source. In reality, the e-mails are used to lure the victims to fake (counterfeit) websites. There the target computers are infiltrated with the help of the malware implemented in the pages and then completely taken over. To achieve this, the cybercriminals send infected PDF documents by e-mail as an alternative, Group-IB reports.

After taking over the PCs, the hackers try to search the entire network of a company. The computers and servers containing the data of the crypto currency wallets are located. The perpetrators using phishing are said to be responsible for 56 percent of the stolen ICO assets. The report states that in the last year and a half about ten percent of all ICO wallets have been stolen. The phishing hackers should be able to collect about one million US dollars a month. The aim, however, is not only to attract the operators of crypto trading centres, but also an increasing number of people and companies that are involved in crypto mining. There is also a lot of money to be raised there.

Particularly perfidious: social engineering

In so-called social engineering, the private and professional environment of an employee is researched in order to later mislead him. The messages of the perpetrator, who pretends to be the contact person, are intended to create trust. The person (often a colleague or superior) then asks the victim to disclose passwords or other sensitive information. The hacker can maintain his deception until the person concerned has the idea of contacting the contact person elsewhere (e.g. by telephone). In this case, the fraud is discovered immediately. Of course, social engineering is much more successful with trusting or authority-hungry target persons than with skeptical people who are not afraid to make themselves unpopular with their superiors, e.g. through their control call.