Nasdaq is looking to patent a way in which a blockchain can be used to record exchange transaction records.

On 6th October, the US Patent and Trademark Office (USTPO) released an application for "systems and methods of blockchain transaction recordation", originally submitted by Nasdaq on 31st March. It is attributed to Tom Fay, Nasdaq's senior vice president of enterprise architecture, and Dominick Paniscotti, associate vice president for enterprise architecture.

Essentially, the application details an exchange system comprising digital wallets, an order book and matching engine, with a "closed blockchain" utilized as a record of transactions that is updated in real-time as participants act.

As the application details:

"A match is identified between data transaction requests and hashes associated with the digital wallets associated with the respective data transaction requests are generated. The counterparties receive the hashes of the other party along with information on the match and each party causes blockchain transactions to be added to the blockchain of the blockchain computing system."

From there, the exchange checks the contents of the blockchain, looking for the data associated with those digital wallets. An additional backup of that information is also kept in a separate database.

It's perhaps unsurprising that Nasdaq would move to file applications related to the technology. Last year, the exchange operator unveiled Linq, a blockchain project focused on private markets, and in May, it launched new blockchain services for its global client base.

The application's contents reveal that the company is largely looking to apply claims to the method of using a blockchain in an exchange environment, rather than the system itself. USTPO records show that Nasdaq originally sought a number of claims related to the tech, but that these were cancelled after the application was first filed in March.

You might not have noticed, but ethereum is under attack.

What began over two weeks ago with spam attacks that led to large-scale ethereum node outages has escalated into a battle that has pitted the platform's developers against unknown antagonists. This might sound like an exciting Hollywood movie, but it's mostly been carried out on message boards and with code.

Shots were first fired at ethereum's big developer conference, Devcon2, with a mysterious message written in German and delivered via transaction method payload. The message said "Go home", but to those who have been following the network's contentious changes this summer, the full meaning was clear.

Since then, block creation and transactions have continued to be impacted, with nodes syncing up to the network more slowly. But while various fixes have since been implemented, the attacker continues to find vulnerabilities to exploit and, in turn, create new ways to launch denial-of-service (DoS) attacks.

The result: the network is being flooded with transaction spam.

Blockstack co-founder Muneeb Ali called it a "cat-and-mouse game" that could potentially continue to slow down transactions on the network, the second most popular by market cap.

Most of the attacks have thus far affected nodes running the Go-version ethereum client (Geth), the most popular implementation of ethereum, though Parity, an alternative client released at the conference, has been impacted in some instances.

The latest release, called "Dear Diary", aims to stop the "root cause" of many of the attacks with a technique called "journalling."

Anatomy of an attack

One problem that has emerged for client developers is that those behind the attack are constantly switching their tactics.

The attacker or attackers are deploying smart contracts to the ethereum blockchain, and then committing transactions that impact how clients handle data, slowing them down to the point that blocks and transactions become delayed.

(For a peek into what's going on, see the barrage of small transactions sent by the attacker to overwhelm the network).

The first line of attack targeted an out-of-memory bug, which the Geth team moved to fix in a subsequent software update.

"In ethereum one of the challenges is that we have this huge database that grows much faster for example than bitcoin," said ethereum developer Péter Szilágyi, who works on Geth, adding that the attackers have taken advantage of this issue.

"We never thought about this attack vector," he added.

The focus on Geth has prompted some users to spin up nodes using Parity. In the wake of the first attacks, most miners made the switch.

However, Geth is still by far the most popular client, numbering nearly 7,000 nodes compared to Parity's 900, although the numbers are constantly fluctuating.

Meanwhile, Ethereum Foundation IT consultant Hudson Jameson chose to emphasize that the Geth team has been able to fix every issue that's been thrown at it so far. This argument was also stressed by ethereum miner Jonathan Toomim, who called the fixes, deployed within days, "impressive".

"The network will go on, and these nuisance attacks will stop eventually," he reasoned.

Yet for how long remains unclear. Each time Geth or Parity releases an update, the attacker finds a new vulnerability.

Those behind the attacks don't seem to mind the cost of doing so, having spent thousands of dollars worth of ether – the cryptocurrency of the ethereum network – to fuel the attacks.

"To date, the attacker has spent over $3,000 worth of ether, solely in gas-costs," Jameson estimated.

Impact on users

Many argue that the attacks are an inevitable result of the way ethereum is designed, and that it has a  "large attack surface."

More on-platform capabilities means that there are more opportunities for trouble, at least compared to other blockchain networks, which are less ambitious..

"The larger problem is that the way ethereum is designed. There's too much exposure so the attacker can trigger certain things or send certain types of transactions," Ali said. "Think of it this way: ethereum allows people too much freedom over what they can do to someone else's computer."

Even if Geth nodes are no longer crashing completely, however, it has resulted in an overall slower network, making ethereum less available to anyone who want to spin up a smart contract or send a transaction.

Since the attacks, some users have reported having problems accessing their funds with Mist, the popular ethereum wallet.

One user even observed when switching pools that mining profitability has decreased for smaller pools, which is potentially a concern for an ecosystem that doesn't want bigger miners to have more control.

The network is also more vulnerable overall if all of its nodes are not functioning properly.

"Causing large portions of the nodes or miners to drop off the network, or fall behind, is naturally rather severe, since such attacks can be a prequel to a double spending-attack," Jameson said.

However, some users seem unfazed, with many developers continuing to work on other projects. Two ethereum projects, FirstBlood and SingularDTV, held crowdsales to raise project funds amid the attack.

Finding a fix

As far as reducing the impact, developers have come up with ideas for how to fix the problem with medium- to long-term changes, in what Jameson calls an "ecosystem-wide effort."

"One of the solutions is to make it more expensive to perform these kinds of attacks," Szilágyi said.

He explained that raising the prices for certain ethereum commands might mean protocol-level changes to Metropolis, ethereum's next big software release that is intended to be more developer-friendly.

Jameson also mentioned rebooting the bounty program, through which developers can earn bitcoin for detecting and reporting bugs. "That way people can submit their flaws legitimately instead of attacking the network," he said.

However, his hope is that the detection of these bugs will make ethereum stronger in the end.

"In the long-term, these attacks increase the resiliency of the Ethereum network," Jameson added said, arguing that the diversity of clients handicaps an attack from impacting all nodes.

Role of the foundation

Others seem to think that it's unclear how quickly that ethereum will recover.

"The Ethereum Foundation is trying to downplay them and spin the situation in a good way, saying that attacks will help to harden the network," ethereum classic lead developer, Arvicco, argued.

While the comments are not surprising given that he leads an alternative project, they point to the overall sentiment of those who have been critical of the organization that funds protocol development and its handling of the situation.

Others remain uncertain what to take away just yet.

Ali said he thinks ethereum team has done a good job thus far in addressing the vulnerabilities.

Still, he suggested there might be no end in sight should ideological motivations to disrupt the network continue unabridged, but that this ultimately might be the best outcome.

"[By then,] most of the practical issues with the software are fixed so that it becomes hard enough and it's no longer a problem," he said, adding: 

"I think it's hard to predict."

San Francisco, California (October 4, 2016) – Bitaccess is excited to announce the expansion of bitcoin sales to hundred of storefronts in select states across the US. Bitaccess customers can now buy bitcoin with cash by sending a bill payment directly to Bitaccess. This is now available at nearly 1,000 retail locations in California, Texas, Florida, New Jersey, and Georgia.

Buying bitcoin instantly with the Bitaccess bill payment option is like paying any other bill. After creating an order online directly at the Bitaccess.co website, users are provided an invoice ID to present at the nearest bill pay location. Once payment is made, bitcoin will be sent directly to your personal wallet within 60 seconds.

In just 3 steps, anyone can buy bitcoin instantly:

1. Create an order online to buy bitcoin at https://bitaccess.co/

2. Choose a BTM, bill pay, or voucher location to make payment.

3. Ask the merchant to make a cash bill payment directly to Bitaccess. Bitcoin is deposited in seconds.

This service allows users to buy up to $2,000 worth of bitcoin in a single day. This makes Bitaccess one of the most accessible bitcoin sellers in the world, opening up cash payments through its trademark BTM, top up vouchers, and bill payments to over 100 million people worldwide.

ABOUT BITACCESS
Bitaccess's mission is to provide people and businesses around the world with access to the future digital money technology. The company has installed Bitcoin ATMs (BTMs) in half a dozen countries. Bitaccess is developing digital currency technologies that are secure, accessible and easy-to-use.







Utocat announces its first fundraising of 500.000€ from Business Angels, BPIFrance and the investment fund Leap Ventures. The objective is to strengthen the API Blockchainiz and to accelerate its commercialization.

Utocat in a few words
Utocat was created in October 2014 by Clément Francomme to help merchants accepting bitcoin payments and converting it directly in euros. In 2015, Utocat joined the EuraTechnologies acceleration program and pivoted to propose Blockchainiz : the dedicated access platform for Banks and Insurance companies. Laurent Koszyczek and Alexis Mévellec partnered with Clément Francomme to improve the technical and commercial aspects.

Blockchainiz API
The platform has been quickly adopted by major Banks and Insurance companies. Blockchainiz simplifies the use of the blockchain : Workflow for non­public shares, interbanking flows, lifecycle for a life insurance or identity verification. Hence, the API enables clients to save costs, reduce delays and increase security especially for their long processes. The customer experience is naturally improved.

After the fundraising
This fundraising will consolidate the platform as Utocat expands its technical team. The commercial team will also be strengthened to accelerate the adoption of the product. The fundraising confirms the position of Utocat as a major actor in blockchain technology for the bank and insurance sector in Europe.

Clément Francomme, CEO: "The Blockchain technology is now a topic seriously taken by banks and insurance companies : it is going forward. Our clients appreciate the fact that our product focus on their activities".


Edward Majerczyk, 28, of Chicago plead guilty to hacking and illegally gaining access to over a hundred people’s private emails and iCloud accounts. Reports say that over 30 celebrities were hacked as well.


Majerczyk’s official charge was computer fraud, and was issued in an Illinois Federal Court. Between November 2013 and August 2014,  Majerczyk operated a phishing scheme by sending fraud emails that appeared to be from the victims’ Internet Service Providers. By doing so, he obtained over 300 username and password combinations for Gmail and Apple iCloud accounts. Over 30 of those accounts were reportedly private celebrity accounts. Personal data along with photos and videos were all stolen from the accounts.

Majercyk’s sentencing has been scheduled for January 10, 2017. He faces up to five years behind bars. Court documents suggest he will likely serve under the maximum time.

A Spokeswoman for the FBI commented:
“The defendant’s acceptance of responsibility for his role in the intrusion of his victims’ accounts and their personal lives is a welcome development in this continuing investigation. All of us who use personal phones or devices must protect our data with strong passwords and two-factor authentication, as well as to be cautious of solicitations that can compromise our private information.



UnoCoin Continues To Attract Attention
It is good to see the UnoCoin exchange raise a lot of funding to improve their services. Bitcoin exchanges have somewhat of a negative reputation, particularly due to a fair few of them getting hacked. The recent Bitfinex incidents go to show that there is no ultimate security when dealing with other people’s money.

Despite that potential drawback, investors see the benefits offered by UnoCoin. With over 100,000 users in India so far, it is clear UnoCoin is driving Bitcoin adoption in the country. Together with ZebPay they are one of the two most popular Bitcoin companies in the region, and both hold an international level of recognition.

UnoCoin has always wanted to become the Coinbase of India, although that is no easy feat. Then again, they have become India’s largest Bitcoin exchange since launching in December of 2013. With this new round of funding the company and its staff can continue to move forward and improve upon existing services.

What is rather interesting are the investors themselves. Digital Currency Group is no surprise to anyone, nor is Boost VC. At the same time, several Indian investors, such as Mumbai Angles and ah! Ventures took part in this fund raising round. This seems to indicate Indian enterprises are slowly warming up to Bitcoin for its innovative purposes.

The story of UnoCoin is quite an interesting one. Back in 2013, there was no option to buy bitcoin locally in a convenient manner, so the team created their own platform. Three years later they have already seen significant successes. Every country could do with one or multiple local exchange platforms, as it can pay dividends very quickly.






Silk Road On The TV Screen With American Greed
Several TV shows have paid attention to Bitcoin and the darknet throughout the years. Nearly none of these spotlights on cryptocurrency has proven to be even somewhat positive, though. The only exception is “Mr. Robot” season two, which seems to paint a very different picture about Bitcoin than most people have been told by the media.

American Greed is a very different creature in this regard, as it is not a Hollywood-scripted TV show. Instead, it puts the spotlight on famous events and collects witness testimonies, as well as the opinions of security experts. This could be a great way to tell the real story about Silk Road and what the FBI and corporate media want one to believe.

At the same time, American Greed may not be the best stage for a Silk Road discussion, either. While the TV show should be on everybody’s watch list– there are plenty of scams out there, trust us–their “angle” to every story is how people steal money. Silk Road, and more importantly Ross Ulbricht, never stole money from their users, so that doesn’t seem to fit the narrative all too well.

That being said, there were multiple thefts related to the Silk Road case. Law enforcement officials stole Bitcoins belonging to Silk Road not once, but twice. It is doubtful that American Greed would pay attention to this aspect, though, as they may get an unwanted visit from the FBI if they tried to do so.

For many of the International Bitcoin users, American Greed has yet to be made available. So far no one has voiced any comments regarding this episode, although it will be a topic of some debate in the next few days.  For American residents who missed the airing, it will be re-airing this Saturday at 9 PM EST on CNBC.