Monat: November 2020

On November 13, in an interview for the „Good Morning America“ television program on ABC News, Cynthia Lummis said she hopes to bring Bitcoin into the U.S. national debate.

Specifically, because she believes that it is an efficient mechanism for safeguarding value, which will play an important role in the future.

„I hope to bring Bitcoin into the national debate. I am a former state treasurer. So, I was always looking for a good value reserve, and Bitcoin fits that bill.

Watch US Senator Cynthia Lummis extol the virtues of Bitcoin Rejoin as a store of value! https://t.co/sLKY8moYtG
Bitcoin fell back this Saturday after reaching USD 16,400

Let’s get to know Cynthia Lummis

The 66-year-old biologist, who holds a doctorate in jurisprudence, served as a member of the U.S. House of Representatives from January 3, 2009 to January 3, 2017. And before that, for eight years, she was Wyoming’s 27th Treasurer.

In fact, Cynthia Lummis, on November 3 won the race for the U.S. Senate in Wyoming. And she will be sworn in on January 3, 2021.

Interestingly, one of Wyoming’s nicknames is „the State of Equality. Because, according to Lummis, it was the first state to continually grant women the right to vote.

CNBC forecasts five more months of growth for Bitcoin, why would that be a sales signal?

How did Lummis first get into Bitcoin?

Indeed, Lummis‘ entry into the crypto market came about seven years ago. Basically, thanks to his son-in-law, Will Core, who’s been running Unchained Capital, a Blockchain financial services company, since late last year.

„I bought my first Bitcoin in 2013. Because I believe in the economic power of scarcity and the potential of Bitcoin to address some of the manipulations in our financial system.
In addition, Lummis revealed on September 27th during the Wyoming Blockchain Stampede 2020 that it is a Bitcoin hodler:

„It was during my time in Congress that I first learned about Bitcoin. So I was surprised at how innovative Bitcoin is.

Indeed, she described the limited supply of Bitcoin as her most distinguished merit: „Knowing that there will only be 21 million Bitcoins, it makes it an attractive store of value.

She also added, „I’ve long been concerned about the Federal Reserve’s quantitative easing program. And the amount of debt on which the future of our nation’s economy rests.

Recently, on Nov. 10, Lummis explained in a tweet why she is excited about Bitcoin: „I want solid money that protects the value of the time, sweat and effort of every American worker. That’s why I’m excited about Bitcoin.

They don’t call it a ‚hard-earned dollar‘ for nothing. I want sound money that protects the value of every working American’s time, sweat and effort.

Considering the above, Cynthia Lummis, could you be at least partially right about Bitcoin? Leave us your opinion in the comment box.

I leave with this sentence from Winston Churchill: „The politician must be able to predict what will happen tomorrow, next month and next year. And then explain why it hasn’t happened.

The TRON network suffered a hack attempt during a routine software update on the morning of Monday, November 2.

TRON founder Justin Sun took to the incident on The News Spy and reassured users the funds were safe and the service had resumed.

Sun also used the failed hack as proof of TRON’s resilience and defense capabilities

The Trust Project is an international consortium of news organizations based on transparency standards.

Controversial TRON founder Justin Sun made a statement about a malicious attack on the network during a software update on Monday, November 2.

Founded in 2017, TRON is a popular decentralized blockchain platform with ambitions quite similar to Ethereum .

According to a Twitter thread posted by Sun, the network was undergoing a routine update to version 4.1 of the mainnet when it was attacked by an unknown malicious actor on Monday morning.

Justin Sun:

(1/5) Regarding the situation of the #TRON network on November 2:

During the version 4.1 upgrade period, the #TRON mainnet was attacked by a malicious contract on 11/02/2020 at 06:14 (HKT).

Justin Sun:

(2/5) This attack uses the authority granted to the contract developer. The attacker initiated malicious transactions and forced the super representative to suspend block production.

Details of the attack

The attacker allegedly exploited the authority given to the contract developers and attempted several malicious transactions. These transactions were noticed and caused the “Super Representative to suspend production of blocks.”

So-called TRON Super Representatives play a vital role in the network by providing functions such as block generation and accounting.

According to Sun, the attack was motivated by greed, and the attackers hoped to take advantage of the „busiest blockchain network in the industry to profit from the suspension of block production.“

However, the TRON community responded quickly, identifying the issue and resolving it quickly. This was praised by Sun, who noted that there was also some collaboration with “super reps” to upgrade the nodes after the attack.

The Twitter thread also presented the clear signal,

The main grid gradually resumed block production, and finally the entire grid returned to normal at 9.40 a.m. Channel data remains intact and user assets are absolutely safe. #SAFU.

Never a quiet day

Known for attracting attention, Sun took the opportunity to present the failed hack as a sign of the strength of the network, “The TRON network is the decentralized network with the most resilience and defense capabilities against attacks from the network. sector!“

The attack is the latest development of a project that is frequently in the news. A few days ago, the TRON Foundation announced that they will permanently honor all cryptocurrencies linked to Tron blocked on the OKEx trading platform.

The exchange recently suspended withdrawals after discovering that its founder, Mingxing „Star“ Xu, had been arrested by police.