Blockchain Bites: ETH Pumps, Coins Leave Exchanges – CoinDesk

by crypto journalist

Ethereum’s and Chainklink’s native cryptocurrencies, ether and link, have set new record highs while bitcoin is in motion to recover losses from its worst week in at least five months. Meanwhile, an early blockchain-based digital collectible sold for $762,000 … what!?

New normal. With rising cryptocurrency prices comes an increase in cybercrime and crypto ransoms, said the U.K.’s former cybersecurity chief. To buck the trend, Ciaran Martin said new laws may be necessary. As reported by The Guardian, a growing number of insurance firms are footing the bill for clients targeted by ransomware attacks, which has set the tone that it’s “OK to pay out to criminals.” Industry publication Decrypt has reported two recent cases of crypto-related hacks.

Centralized core? Once Bitcoin Core’s most active maintainer, Wladimir van der Laan has decided to step back. In a blog post last week, the Bitcoin lead called for the project to further decentralize away from community leaders. Calling himself a “centralized bottleneck,” van der Laan also said the community should spin up alternatives to bitcoincore.org, a private website that hosts Bitcoin’s underlying code. “One thing is clear: This is a serious project now, and we need to start taking decentralization seriously,” he wrote.

“ETH leaving exchanges is bullish as diminished supply makes it easier for the price to squeeze higher, generating a supply crisis,” trader and analyst Alex Kruger told Godbole. “It’s clear to me large parties are accumulating.”

Still, the future for both blockchain-based systems is unknown. While Quorum has reportedly attracted enterprise clients, according to d’Haussy, ConsenSys’ director of strategic initiatives, no specifics have been given. Similar doubts could be raised about BSN – if China builds it, will people come?

This content was originally published here.

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