Bitcoin mining takes more electricity a year than Ireland

It’s known that Bitcoin system consumes more electrical power than Ireland in a year, the statistics showed it last time when token rose beyond 9 000 $
02 December 2017   597

Financial and economic news Digiconomist says the most part of energy is spent on checking cryptocurrency transactions is equal to 30, 14 TWh per year.

During the constant power consumption of 3,4 GW, Bitcoin mining uses fivefold more energy than the London Array produces.

We can compare this phenomenon with the fact that with such an abundant consumption of electricity, about 36,000 kettles with water can be heated. It can also be compared to the fact that one of the largest US data processing centers consumes only 2% of power that bitcoin network requires. At the same time, this organization conducts about 100 million transactions, but the network of bitcoins as a whole processes 350,000.

The astronomical energy thread is the edge of how the bitcoin network protects itself from cracks. Without centralized credentials to confirm transactions, bitcoin instead of the backup copies of the miners who provide this system with computers to work, rises with the help of unprecedented energy-intensive computing operations. Bitcoin network always rewards its users at the rate of about 11 000 $.

The more bitcoin price is increased, the more new users with their computers to run bitcoin network are appeared.

Everyone observed the third growth of bitcoin in history which took place on the 27th of November. Financial freedom has its price, and in this case this price has the form of electricity – a resource that can be generated in a variety of ways.

In fact, it is for this reason that many large mining operators are now moving to countries where it is possible to obtain abundant energy from natural sources. Currently, one of the startups is experimenting with "smart meters", managed by digital currencies, and this may well become a harbinger of the coming changes.

Crypto-mining malware has infected 23% of global organizations

An increasing threat gets challenging as the malware is put hidden in websites
19 February 2018   62

Check Point alarms the world of a steadily growing threat of crypto-mining malware. A leading provider of cyber security globally has compiled a list of top 10 prevalent threats. The first is Coinhive that during January 2018 has affected approximately 23 percent of organizations worldwide. Using Javascript the malware is implanted into website and with each user browsing the dangerous code drains users’ CPU and GPU resources to mine Monero cryptocurrency with their approval.

Over the past three months crypto-mining malware has steadily become an increasing threat to organizations, as criminals have found it to be a lucrative revenue stream

 

Maya Horowitz

Threat Intelligence Group Manager, Check Point

Ranked second is a malware Fireball. it is reported that as much as 21% of those organizations infected by the malware are yet to deal with the issue. The most serious point about Fireball is that the malware has a real potential to be transformed into a fully-fledged malware downloader capable of executing any code on the victim’s machine. The third rank was given to Rig Exploit Kit with 17% affected organizations globally.

As the popularity of the virtual currencies grows, so does the distribution was and methods of the associated malware. Usually, the exploit is injected in popular media websites, as reported by Cyberscoop of media outlet Salon using its own ad-blocker as a hidden tool for mining Monero. On top of that, last week Kaspersky Lab. reported of a zero-day vulnerability of Telegram desktop client. The vulnerability makes users to download a hidden malware, that potentially can be a mining code. This threat is reported to be active since March, 2017.

Another notable instance of an infection was reported by UK about a plugin for blind people Browsealoud.