StrongHands to Undergo Hard Fork

StrongHands hard fork will occur on Saturday, February 17, 2018 either at 12:00:00 AM GMT, or at block 589500, whichever comes first
17 February 2018   168

StrongHands is a cryptocurrency with proof-of-stake consensus as a security model, and a combined proof-of-stake/proof-of-work minting system. StrongHands is based on Bitcoin, and possesses a new security model, energy efficiency, better minting model and more adaptive response to rapid change in network computation power.

As it was announced on the official website of StrongHands, its hard fork will occur on Saturday, February 17, 2018 either at 12:00:00 AM GMT, or at block 589500. All the users are recommended to download the new StrongHands wallet before the hard fork.

StrongHands Announcement
StrongHands Announcement

The above mentioned hard fork addresses the issue of hyper inflation, as the extended time of 1200% can make even the smallest amount insanely large. The fork will reduce inflation, but will keep coin supply the same. PoS rewards will be reduced from 1200% to 250,000 coins/block, and PoW rewards will also be increased to match PoS, so as initially to 500,000 coins/block, then to 250,000 coins/block. This should help to increase network security by attracting miners.

At the moment of press, these are main parameters of StrongHands:

  • Average Price $0,000001
  • 24h Volume $83 026

Tesla's cloud account hacked to mine cryptocurrency

Independent security group discovered Tesla's cloud account being hacked and infected with a miner-virus
21 February 2018   23

Cryptocurrencies are on the rise and all sorts of shady characters are trying to get in with dubious methods. Recent string of hacking attacks is a perfect example. And now not only exchanges and users with their hard-earned coins are in danger, but also companies with large cloud infrastructure face the same threat.

RedLock, a security research firm, reports that electric car manufacturer Tesla's cloud account information has been leaked to the internet, which allowed hackers to access the company's cloud. It has been hacked and hardware infected with a miner virus called Stratum. The mining protocol masks itself with low CPU usage and obscuring the IP of the mining server.

Of course, RedLock immediately contacted Tesla with this information and the company quickly got to fixing the breach. Tesla's spokesperson assured us that customer personal information hasn't been compromised, and that the vulnerability was patched in a matter of hours. Only small test park of internally-used engineering sample cars has been impacted and no indication whatsoever discovered that actual customer cars have been compromised in any way.

It certanly looks possible, because according to the same RedLock Cloud Security Intelligence group mining profitability of Tesla's cloud is worth a lot more that all the customer data available could be sold for on the black market. This also isn't the first instance of such a hack with no data being stolen. In fact, hacks with intention of hijacking mining capacity has already targeted Gemalto, a world's largest SIM-card manufacturer, and Aviva, a British insurance company, just to name a few.