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The Role of Containerization Technology in Cloud Computing – CityLife

June 11, 2023 | Author: admin

Exploring the Role of Containerization Technology in Cloud Computing

In recent years, cloud computing has emerged as a transformative force in the world of technology, revolutionizing the way businesses and individuals access and utilize computing resources. One of the key factors driving this rapid adoption of cloud computing is the advent of containerization technology, which has fundamentally changed the way applications are developed, deployed, and managed in the cloud. As organizations increasingly turn to cloud-based solutions to streamline their operations and enhance their capabilities, it is essential to understand the role of containerization technology in shaping the future of cloud computing.

Containerization technology refers to the process of encapsulating an application and its dependencies into a single, portable unit called a container. Containers provide a consistent and reproducible environment for applications to run, regardless of the underlying infrastructure. This enables developers to focus on writing code and building features, without worrying about the intricacies of the deployment environment. Furthermore, containers allow applications to be easily scaled, updated, and migrated across different platforms and environments, thereby simplifying the management of complex, distributed systems.

One of the primary benefits of containerization technology is its ability to improve the efficiency and utilization of computing resources. Traditional virtualization techniques, such as virtual machines (VMs), require each instance to run a separate operating system, which can lead to significant overhead and underutilization of resources. Containers, on the other hand, share the host operating system and isolate only the application and its dependencies, resulting in a lightweight and efficient solution. This not only reduces the resource footprint but also enables faster startup times and improved performance, making it an ideal choice for cloud-based deployments.

Another key advantage of containerization technology is its ability to facilitate seamless application portability across different platforms and environments. Containers encapsulate the application and its dependencies in a consistent runtime environment, which can be easily moved from one system to another without any modifications. This ensures that the application behaves consistently and predictably, regardless of the underlying infrastructure. This portability is particularly beneficial in the context of cloud computing, as it enables organizations to easily migrate their applications between on-premises data centers and public cloud platforms, or even across different cloud providers, without any disruption or downtime.

In addition to these benefits, containerization technology also plays a crucial role in enabling modern software development practices, such as DevOps and continuous integration/continuous deployment (CI/CD). By providing a consistent and reproducible environment for applications, containers make it easier for developers and operations teams to collaborate and iterate on software releases more rapidly. This not only accelerates the development and deployment process but also helps organizations to quickly respond to changing market conditions and customer demands.

Moreover, the growing popularity of containerization technology has given rise to a vibrant ecosystem of tools and platforms that further enhance its capabilities and streamline the management of containerized applications. Platforms such as Kubernetes, Docker, and OpenShift have emerged as industry-standard solutions for orchestrating, scaling, and managing containerized applications in the cloud. These platforms provide a comprehensive set of features and integrations that enable organizations to build, deploy, and manage complex, distributed systems with ease and confidence.

In conclusion, containerization technology has emerged as a critical enabler of cloud computing, offering a range of benefits that include improved resource efficiency, application portability, and support for modern software development practices. As organizations continue to embrace cloud-based solutions to drive their digital transformation initiatives, containerization technology will play an increasingly important role in shaping the future of cloud computing. By leveraging the power of containers and the surrounding ecosystem of tools and platforms, businesses can unlock new levels of agility, scalability, and innovation, positioning themselves for success in the rapidly evolving digital landscape.

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The Relationship Between DevOps and Cloud Computing: A … – CityLife

June 11, 2023 | Author: admin

The Relationship Between DevOps and Cloud Computing: A Synergistic Approach

In recent years, the world of software development and deployment has undergone a significant transformation. This change has been driven by two key factors: the rise of DevOps as a methodology for managing the software development lifecycle, and the increasing adoption of cloud computing as a platform for deploying and managing applications. In this article, we will explore the relationship between DevOps and cloud computing, and how these two trends are working together to create a more efficient, agile, and cost-effective approach to software development and deployment.

DevOps, a portmanteau of development and operations, is a set of practices that aims to bridge the gap between software developers and IT operations teams. This is achieved by fostering a culture of collaboration, communication, and shared responsibility for the entire software development lifecycle. By breaking down the traditional silos between development and operations, DevOps enables organizations to deliver software more quickly, with fewer errors, and with greater adaptability to changing business requirements.

Cloud computing, on the other hand, is a model for delivering computing resources such as servers, storage, and networking over the internet, on an on-demand basis. This allows organizations to avoid the upfront costs and complexity of owning and maintaining their own physical infrastructure, and instead, pay for the resources they need when they need them. Cloud computing offers a number of benefits, including increased scalability, flexibility, and cost-efficiency.

The relationship between DevOps and cloud computing is a synergistic one, with each trend reinforcing and amplifying the benefits of the other. This synergy can be seen in several key areas:

1. Infrastructure as Code: One of the core principles of DevOps is the idea of treating infrastructure as code. This means that the configuration and management of servers, networks, and other infrastructure components are defined in code, just like application software. This allows for version control, automated testing, and repeatable deployment processes. Cloud computing platforms, with their API-driven approach to provisioning and managing resources, are a natural fit for this model, enabling organizations to automate the creation and management of their infrastructure with ease.

2. Continuous Integration and Continuous Deployment (CI/CD): Another key aspect of DevOps is the practice of continuously integrating and deploying code changes. This involves automatically building, testing, and deploying new code as it is committed, ensuring that errors are caught and fixed quickly, and that new features can be rolled out to users with minimal delay. Cloud computing platforms provide the tools and services needed to support CI/CD workflows, such as automated build and deployment pipelines, container orchestration, and serverless computing.

3. Scalability and Elasticity: DevOps emphasizes the need for applications to be scalable and elastic, able to handle fluctuations in demand without manual intervention. Cloud computing platforms are designed with these principles in mind, offering features such as auto-scaling, load balancing, and on-demand resource provisioning. This makes it easier for DevOps teams to build and deploy applications that can scale up or down as needed, without the need for costly and time-consuming infrastructure changes.

4. Monitoring and Analytics: A key aspect of the DevOps approach is the use of monitoring and analytics tools to gain insights into application performance and user behavior. Cloud computing platforms offer a wealth of built-in monitoring and analytics services, making it easier for DevOps teams to collect, analyze, and act on the data they need to optimize their applications and infrastructure.

In conclusion, the relationship between DevOps and cloud computing is a powerful one, with each trend complementing and enhancing the other. By embracing both DevOps practices and cloud computing platforms, organizations can achieve greater agility, efficiency, and cost-effectiveness in their software development and deployment efforts. As these trends continue to evolve and mature, it is likely that we will see even more innovation and collaboration between the worlds of DevOps and cloud computing, leading to new and exciting possibilities for the future of software development.

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Global Server Virtualization Software Strategic Business Report 2023: Proliferation of Cloud and OS Technologies Drive Server Virtualization – Yahoo…

June 11, 2023 | Author: admin

DUBLIN, June 8, 2023 /PRNewswire/ -- The "Server Virtualization Software: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

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The global market for Server Virtualization Software estimated at US$8.3 Billion in the year 2022, is projected to reach a revised size of US$13.8 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.

Para Virtualization, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach US$4.4 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Full Virtualization segment is readjusted to a revised 5.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 7.6% CAGR

The Server Virtualization Software market in the U.S. is estimated at US$2.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 6.4% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 6.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2030.

Select Competitors (Total 48 Featured) -

What`s New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

Global competitiveness and key competitor percentage market shares

Market presence across multiple geographies - Strong/Active/Niche/Trivial

Online interactive peer-to-peer collaborative bespoke updates

Access to digital archives and Research Platform

Complimentary updates for one year

Story continues

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Impact of Covid-19 and a Looming Global Recession

Virtualization and Virtualization Software: A Review

World Virtualization Software Market by Technology (2020 & 2027): Percentage Breakdown of Revenues for Network Function Virtualization, Desktop Virtualization, Software-defined Storage and Server Virtualization

Server Virtualization

Development of the Server Virtualization Market

Rising Uptake and Software Maintenance Revenues Help Server Virtualization Software Market Post Decent Growth

Market Drivers & Restraints

North America to Retain Commanding Position in Server Virtualization Software Market

World Server Virtualization Software Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions

World Server Virtualization Software Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027

Competitive Scenario

Vendor Focus on Sophisticated Features Catalyzes Server Virtualization Software Market

Recent Market Activity

Server Virtualization Software - Global Key Competitors Percentage Market Share in 2022 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Server Virtualization: An Important Cog in the IT Wheel

Cost Benefits from Server Consolidation Drive the Business Case for Server Virtualization

Server Virtualization: Enabling Green IT Strategy

Energy Consumption in Server Rooms: Comparison of Power Consumption (in %) for IT Equipment, Air Conditioning and Distribution Losses

Changing ICT Landscape to Influence Server Virtualization Software Market

Global Shipments of Smartphones (in Million Units) for the Years 2011 through 2019

Proliferation of Cloud and OS Technologies Drive Server Virtualization

Global Public Cloud Computing Market (in US$ Billion) by Segment for the Years 2019 and 2022

Status of Serverless Computing, Containers, and Modern Applications

Data Center Virtualization Trends

Select Innovations in Server Virtualization Space

Challenges Facing the Server Virtualization Software Market

Server Virtualization: Technology Overview

Virtualization Technology: A Background Study

An Introduction to Server Virtualization Software

Future of Server Virtualization Software

Server Virtualization Approaches

Virtual Server

Key Steps in Implementation of Server Virtualization

Key Benefits Package

Disadvantages of Virtualization

Backup Issues

Data Recovery

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/vvsf3m

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.comFor E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716

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Fog Computing: The Backbone of Future Smart Transportation … – CityLife

June 11, 2023 | Author: admin

Fog Computing: The Backbone of Future Smart Transportation Systems

Fog computing, a decentralized computing infrastructure, is rapidly emerging as the backbone of future smart transportation systems. As urban populations continue to grow, cities worldwide are turning to innovative technologies to improve the efficiency, safety, and sustainability of their transportation networks. One such technology is fog computing, which extends cloud computing capabilities to the edge of the network, enabling real-time data processing and decision-making at the source of data generation.

The concept of fog computing was introduced by Cisco in 2014 as a means to address the limitations of traditional cloud computing in the context of the Internet of Things (IoT). In cloud computing, data generated by IoT devices is sent to remote data centers for processing and storage. However, this centralized approach can result in high latency, bandwidth consumption, and security risks, particularly when dealing with the massive amounts of data generated by smart transportation systems.

Fog computing addresses these challenges by distributing computing resources across the network, allowing data to be processed closer to where it is generated. This decentralized approach significantly reduces latency and bandwidth consumption, enabling real-time data processing and decision-making that is critical for the efficient operation of smart transportation systems.

One of the key applications of fog computing in smart transportation is traffic management. By processing data from traffic sensors, cameras, and connected vehicles in real-time, fog computing can help traffic management systems to optimize traffic flow, reduce congestion, and improve overall transportation efficiency. For example, fog computing can enable dynamic traffic light control, adjusting signal timings based on real-time traffic conditions to minimize delays and improve traffic flow.

Fog computing can also play a crucial role in enhancing the safety of smart transportation systems. By processing data from various sources such as connected vehicles, roadside sensors, and cameras, fog computing can enable real-time detection of potential hazards and accidents. This information can then be used to alert drivers, emergency services, and traffic management centers, enabling a rapid response to incidents and reducing the risk of secondary accidents.

In addition to traffic management and safety, fog computing can also support the growing adoption of electric vehicles (EVs) and the development of smart charging infrastructure. By processing data from EVs and charging stations in real-time, fog computing can help to optimize energy consumption, reduce peak demand on the power grid, and enable dynamic pricing based on real-time energy market conditions.

Furthermore, fog computing can support the deployment of autonomous vehicles, which rely on real-time data processing and decision-making to navigate complex urban environments safely. By enabling low-latency communication between vehicles, infrastructure, and traffic management systems, fog computing can help to ensure the safe and efficient operation of autonomous vehicles in smart transportation systems.

In conclusion, fog computing is poised to play a critical role in the development of future smart transportation systems. By enabling real-time data processing and decision-making at the edge of the network, fog computing can help to improve the efficiency, safety, and sustainability of urban transportation networks. As cities around the world continue to invest in smart transportation infrastructure, fog computing will undoubtedly become an essential component of the technology ecosystem that underpins these systems.

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AMD Stock: Bear vs. Bull – The Motley Fool

June 11, 2023 | Author: admin

Companies joining the artificial intelligence (AI) market have experienced a bull run in 2023, with companies like Nvidia and Microsoft enjoying stock rises of 165% and 39% since Jan. 1. As a leading chipmaker with much to gain from the sector's development, Advanced Micro Devices (AMD 3.20%) also benefited from the rally as its shares have soared 92% in the same period.

AMD's prospects in AI seem to grow by the day as its expansion in the industry develops. However, some analysts have voiced concerns that the company's price may be overinflated after its latest rally and might not be able to live up to the hype.

Here is the bear versus bull review for AMD stock.

While AMD's stock skyrocketed this year on the prospects of AI, its value has fallen. The company's price-to-earnings ratio (P/E) is up more than 1,000% year to date, hitting 540. The figure is far higher than the preferred 20 or below, which often indicates a good-valued stock.

As a result, if you're considering buying AMD stock, it's crucial to keep a long-term mindset. The company's shares could take a temporary dive if AMD can't immediately deliver on its AI potential. However, that is unlikely to affect its growth over the next decade and beyond.

AMD shares have risen about 695% in the last five years and more than 3,000% in the last decade. The company has a solid outlook thanks to its ability to supply chips to a variety of industries. Yet, with such a rapid stock rise this year based on the prospects of a largely untested market, the company's short-term stock performance could be volatile.

The good news is, despite the uncertainty, AMD's forward price/earnings-to-growth ratio (PEG), which takes into account expected earnings growth, is at an attractive 0.2. The metric suggests AMD has not veered from its growth path and remains an attractive investment for patient investors.

Amid the buzz concerning AI, AMD has garnered a lot of attention from tech enthusiasts and Wall Street. However, the complexity of the technology might leave you wondering how exactly the company will profit from the industry's growth. So, let's take a closer look.

AMD is home to a variety of powerful chips with its line of central processing units (CPUs), graphics processing units (GPUs), and data processing units (DPUs). These chips are required to run a wide range of tasks from gaming to video editing, cloud computing, and of course, running and developing AI programs.

For reference, OpenAI's ChatGPT utilized about 20,000 GPUs in 2020 and is expected to increase that number to 30,000 as it readies for commercialization.

Nvidia gained a slight edge over AMD by becoming the primary supplier of GPUs to ChatGPT. However, the fight isn't over yet. AMD's prospects in AI have strengthened thanks to a recent partnership with OpenAI's biggest investor, Microsoft.

According to a Bloomberg report from May 4, Microsoft is supporting AMD's AI chip expansion by providing financial and engineering resources.The Windows company's aim is to help AMD become an equal alternative to Nvidia.

Moreover, data from Grand View Research states the AI market is projected to expand at a compound annual growth rate (CAGR) of 37% through 2030 after hitting $137 billion in 2022. The monster CAGR indicates it's still early days for the industry, with plenty of market share still up for grabs.

Nvidia may have had a head start, but it's not too late for AMD to capture a substantial part of the sector in the coming years.

AMD shares might be pricey right now, suggesting it's wise to exercise caution. However, if you're willing to hold for the long term, the company's prospects in AI are worth an investment.

Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

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IDMining offers the best way to Make Money with Cloud Mining – Analytics Insight

June 11, 2023 | Author: admin

Cloud mining has revolutionized the world of cryptocurrency mining, providing individuals with an opportunity to participate in the lucrative crypto market without the need for extensive technical knowledge or expensive hardware. Among the various cloud mining providers, IDMining has emerged as a leading platform, offering an exceptional solution for individuals looking to make money through cloud mining. In this article, we will explore why IDMining stands out as the best way to generate income through cloud mining.

One of the key factors that sets IDMining apart is its reputation for reliability and security. With a strong track record and positive user testimonials, IDMining has established itself as a trustworthy platform in the cloud mining industry. The platform employs state-of-the-art security measures to protect users investments and personal information, giving investors peace of mind while mining cryptocurrencies.

IDMining offers a diverse range of mining contracts, catering to the needs and preferences of different investors. Whether you are a beginner looking to start small or an experienced miner seeking higher returns, IDMining has a contract suitable for you. The platform provides flexibility in terms of contract duration, mining algorithms, and cryptocurrencies, allowing users to choose the option that aligns with their investment goals.

To maximize mining efficiency and profitability, IDMining utilizes cutting-edge technology. The platform is equipped with high-performance mining hardware and advanced algorithms that optimize the mining process. By leveraging the power of cloud computing, IDMining ensures users can mine cryptocurrencies at a faster rate and with increased profitability compared to traditional mining methods.

IDMining believes in fostering transparency and providing users with a seamless mining experience. The platform offers a user-friendly interface that makes it easy for investors to navigate and monitor their mining activities. Users can access real-time data on their mining performance, earnings, and withdrawal options.

Recognizing the importance of customer satisfaction, IDMining offers dedicated customer support to assist users throughout their cloud mining journey. The support team is available to address queries, provide guidance, and resolve any issues that users may encounter. This commitment to customer service enhances the overall user experience and sets IDMining apart from its competitors.

Contract Price

Contract Terms

Fixed Return

$200

1 Day

$200+$5

$350

3 Days

$350+$29.4

$860

7 Days

$860+$174.58

$1,600

15 Days

$1,600+$720

$6,400

30 Days

$6,400+$5,952

$9,600

40 Days

$9,600+$13,056

Minimum investment amount: $200

For additional information on IDMining, please visit their website at https://idmining.com/.

When it comes to making money with cloud mining, IDMining is undoubtedly the best choice. With its reliable and secure platform, diverse range of mining contracts, cutting-edge technology, transparent interface, and dedicated customer support, IDMining offers a comprehensive solution for individuals seeking to enter the world of cryptocurrency mining. By partnering with IDMining, investors can tap into the immense potential of cloud mining and generate a sustainable income stream in the ever-evolving crypto market.

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Fisher Funds: AI is changing the world but big winners could be the … – New Zealand Herald

June 11, 2023 | Author: admin

The first California gold rush started in 1848 - but now another is underway. Photo / Getty Images

OPINION

ChatGPT is changing the world as we know it, leaving some companies in its wake but whats the best investment option to capitalise on this new wave of technology-led disruption?

Dan Rosenweig, CEO of online education company Chegg, recently painted an alarming picture for investors.

Chegg provides homework help, digital and physical textbook rental, online tutoring and other student services.

Speaking to analysts on the latest earnings call, he said the significant spike in student interest from ChatGPT is impacting Cheggs ability to get new customers, as students opt to use the AI tool for assistance with homework instead.

The statement sent the stock tumbling, closing down 48 per cent in a single day and casting a shadow over the future of the company.

AI is in its infancy, but is already causing reverberations across many industries, capturing the minds and imaginations of scientists, politicians, and corporations, and bringing terms like ChatGPT to the forefront of public consciousness.

While it may be a blessing for many companies, potentially enabling significant productivity boosts, some may face existential risks to their business models.

New gold rush

Investors hoping to capitalise on the AI boom need to look no further than the gold rushes of the 19th century to figure out the best investment strategy.

Just as it was on the riverbeds of California, Victoria, and Otago in the 1800s, the best business was not in panning and digging for gold but rather in selling the miners the picks and shovels to do so.

Back then it was Levi Strauss and Jacob Davis who were in the box seat, but today with AI its the companies selling the tools and services that support the growing AI industry. With an early lead, Amazon, Google and Microsoft are well placed to play the enablers and backbones of the AI revolution.

Many companies have already been using AI for computational and quantitative tasks.

JPMorgan Chase bank and Mastercard are using AI to automate tasks like fraud detection and risk assessment, freeing up employees to focus on other things, and Netflix is constantly developing new AI-powered features to improve its recommendation engine.

The big recent innovation has been the wave of releases of Large Language Models (LLMs) such as ChatGPT. LLMs have moved AI beyond just numbers and quantitative tasks into language, creative content creation, and replicating human interactions.

Productivity software stands to benefit substantially.

For example, GitHub, Microsofts coding platform, rolled out its AI feature named Copilot, which aids developers code writing by offering autocomplete-style suggestions as they code.

There has often been a talk of 10x super developers who are 10 times more productive than the average developer.

GitHub CEO Thomas Dohmke strongly believes 10x developers can become widespread, saying: With AI at every step, we will realise the 10x developer.

Some business models could be upended by the technology

Chegg is one example of an early company impacted by AI, and companies with a large component of repetitive and manual tasks are also likely to be impacted.

Industries previously requiring people with specialist skills, such as copywriting and website design, can now use AI to help complete these tasks in minutes, rather than days or weeks.

Instead of using a copywriter, simple prompts can be fed into Word Copilot to generate full articles and content for publishing and advertising. Websites can be built simply by taking a photo of a hand-drawn website design and feeding this into an AI model.

This isnt necessarily a negative for these industries if they can use the productivity gains on more mundane tasks, and spend more time on value-add activities.

Satya Nadella, CEO of Microsoft, believes AI could enable every developer to focus all their creativity on the big picture: building the innovation of tomorrow and accelerating human progress, today.

The largest beneficiary from AI will be the cloud computing companies.

AI is computationally intensive. One conversation on ChatGPT costs only a few cents but when used by billions of people many times over, this cost escalates exponentially, and estimates put the daily cost at over NZD$1 million per day.

The lure of Azure

Amazon AWS, Microsoft Azure and Google Cloud Platform dominate the cloud computing market and AI has expanded their horizons significantly.

Only a handful of companies ultimately have the scale and ability to provide the computing infrastructure to host AI applications. Both Amazon and Azure have made large investments in building their own AI specific chips for training and running AI models more efficiently something smaller competitors are unlikely able to replicate.

These three providers are best positioned to capture the lions share of AI workloads, either through licensing their own AI models or providing the computing musclepower to host AI models from others.

Right now, AI is like the internet in the 90s, before smartphones, app stores, streaming and social media were on the radar of most people.

Current commercial adoption remains relatively low but there are unlimited use cases. Being invested in the picks and shovels like AWS, Azure and Google Cloud Platform could offer the greatest likelihood for success regardless of which platform or AI model dominates.

Like in the infancy of the internet, we can only guess what AIs ultimate size, impact and application will be, but what we do know is companies will have to adapt to harness the power of AI or risk being left behind.

- Daniel Moser is an investment analyst at Fisher Funds

Disclaimer: The information and opinions provided here are of a general nature, and not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.

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Why Bitcoin, Ethereum, and Dogecoin Are Heading Lower This Weekend – The Motley Fool

June 11, 2023 | Author: admin

What happened

In the world of cryptocurrencies, which happens to be a 24/7 market, weekend price action can be rather enthralling to watch. With most markets off-limits to investors, traders who require action can find it in the crypto market.

Thus far, this weekend has kicked off with an unfortunate thud for investors, with most major tokens losing steam. Over the past 24 hours,Bitcoin(BTC -0.55%), Ethereum(ETH -0.11%), and Dogecoin(DOGE 0.02%) have sunk 3.3%, 5.7% and 12.4%, respectively.

This past week provided investors with more headwinds than we've seen in some time. The Securities and Exchange Commission (SEC) launched two lawsuitsagainst Binance and Coinbase, two of the largest centralized crypto exchanges.

The allegations varied across these two enforcement actions, with market manipulation the key focus of the Binance lawsuit and alleged unauthorized securities sales the key focus of the Coinbase suit.

While Bitcoin and Ethereum appear to be in the clear, with most regulators appearing to lean toward these digital assets being classified as commodities rather than securities, it's clear that regulatory oversight for the crypto sector is likely to pick up substantially. With the largest crypto exchanges in the cross-hairs of regulators, investors have reason to be concerned about how regulation may affect capital flows into this sector, and overall innovation, over time.

For meme tokens like Dogecoin, regulatory headwinds are certainly a bigger deal. It's much more likely we'll see regulators focus their enforcement action efforts on projects with little utility or value for users and generate impressive profits for insiders, like Dogecoin and many of its peers. Thus, it's unsurprising to see this token drop much more precipitously than its mega-cap peers today.

This past week, I read an interesting perspective on why equity markets aren't open on weekends. Thin liquidity can result in outsized moves (to the upside or downside), often seen in after-hours trading volatility around key events such as earnings. In the case of crypto, a 24/7 market, weekends can prove to be much more volatile, which can incite traders to take on leveraged positions and ride momentum one way or another.

Perhaps today's price action is simply the result of a combination of thin liquidity, liquidations activity, leverage, and momentum. That's almost certainly the case with most major rallies in this sector.

However, there's also the reality that the crypto market effectively didn't blink when these SEC lawsuits were announced. Bitcoin and Ethereum saw an initial dip but held relatively steady. Today, investors appear to be seizing the opportunity to price in this real risk.

Chris MacDonald has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, and Ethereum. The Motley Fool has a disclosure policy.

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BA, BBC and Boots hit by cyber security breach with contact and bank details exposed – Sky News

June 11, 2023 | Author: admin

By James Sillars, Business reporter @SkyNewsBiz

Monday 5 June 2023 22:01, UK

The BBC, British Airways , Boots and Aer Lingus have been caught up in a cyber incident that has exposed employee personal data, including bank and contact details, to hackers.

A ransomware group named Clop has claimed responsibility for the breaches centred around the MOVEit file transfer software.

In an email to Reuters on Monday, the hackers said "it was our attack" and that victims who refused to pay a ransom would be named and shamed on the group's website.

Work by Microsoft had earlier suggested that the Russian-speaking ransomware gang was behind the attack.

It emerged last week that a so-called zero-day vulnerability - a flaw - in the file transfer system MOVEit, produced by Progress Software, had been exploited by cyber criminals.

It had allowed the hackers to access information on a range of global companies using MOVEit Transfer.

Thousands of firms are understood to be affected.

UK-based payroll provider Zellis confirmed on Monday that eight of its clients were among them.

It did not name the organisations.

BA, however, confirmed it had been caught up in the affair.

The airline employs 34,000 people in the UK.

The BBC and Boots, which has 50,000 staff, said they had been affected too.

The broadcaster did not believe its employees' bank details had been exposed though company ID and national insurance numbers were compromised.

Current and former staff at Aer Lingus have also been affected, the airline said, but no financial or bank details nor phone numbers were compromised in the incident.

Analysis: Origins 'appear to have Russian links'

Experts said corporate victims could expect the group responsible to make contact with a list of demands within weeks.

In this instance, the compromised information included contact details, national insurance numbers and bank details.

BA told Sky News: "We have been informed that we are one of the companies impacted by Zellis's cybersecurity incident which occurred via one of their third-party suppliers called MOVEit.

"Zellis provides payroll support services to hundreds of companies in the UK, of which we are one.

"This incident happened because of a new and previously unknown vulnerability in a widely used MOVEit file transfer tool. We have notified those colleagues whose personal information has been compromised to provide support and advice."

A Boots spokesperson said: "A global data vulnerability, which affected a third-party software used by one of our payroll providers, included some of our team members' personal details.

"Our provider assured us that immediate steps were taken to disable the server, and as a priority we have made our team members aware."

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Zellis said in its own statement: "A large number of companies around the world have been affected by a zero-day vulnerability in Progress Software's MOVEit Transfer product.

"We can confirm that a small number of our customers have been impacted by this global issue and we are actively working to support them.

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"All Zellis-owned software is unaffected and there are no associated incidents or compromises to any other part of our IT estate.

"Once we became aware of this incident we took immediate action, disconnecting the server that utilises MOVEit software and engaging an expert external security incident response team to assist with forensic analysis and ongoing monitoring."

Charles Carmakal, chief technology officer at Google cyber security specialist Mandiant Consulting, said: "At this stage it is critical for victim organisations to prepare for potential extortion, publication of stolen data, and victim shaming.

"It is likely that the threat actor will soon begin to make contact with extortion demands and begin to work through their list of victims.

"Mandiant's investigations into prior campaigns from the suspected threat actor show that extortion demands are usually in the 7- or 8-figure range, including a few demands for more than $35m.

"Any organisation that had the MOVEit web interface exposed to the internet should perform a forensic analysis of the system, irrespective of when the software was patched," he warned.

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"Watch out for scammers too. Some of our clients impacted by the MOVEit exploitation received extortion emails over the weekend.

"The extortion emails were unrelated to the MOVEit exploitation and were just scams, but organisations could easily confuse them as being authentic."

A MOVEit spokesperson said: "Our customers have been, and will always be, our top priority. When we discovered the vulnerability, we promptly launched an investigation, alerted MOVEit customers about the issue and provided immediate mitigation steps."

"We disabled web access to MOVEit Cloud to protect our cloud customers, developed a security patch to address the vulnerability, made it available to our MOVEit Transfer customers, and patched and re-enabled MOVEit cloud, all within 48 hours. We have also implemented a series of third-party validations to ensure the patch has corrected the exploit."

"We are continuing to work with industry-leading cybersecurity experts to investigate the issue and ensure we take all appropriate response measures. We have engaged with federal law enforcement and other agencies with respect to the vulnerability."

"We are also committed to playing a leading and collaborative role in the industry-wide effort to combat increasingly sophisticated and persistent cybercriminals intent on maliciously exploiting vulnerabilities in widely used software products."

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BA, BBC and Boots hit by cyber security breach with contact and bank details exposed - Sky News

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