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Privitar Announces New Native Integration With Google Cloud Platform – Business Wire

LONDON & BOSTON--(BUSINESS WIRE)--Privitar, the leading data privacy platform provider, today announced that the Privitar Data Privacy Platform now natively integrates with the Google Cloud Platform. The new integration adds to Privitars native support of public cloud services, including AWS and Azure, and enables customers to seamlessly protect and extract the maximum value from the sensitive data they collect, manage and use.

Traditional security measures such as encryption and attribute based access control are not sufficient as we increase the exposure to sensitive data assets in the cloud. Complimentary privacy controls are essential, particularly for analytics applications that need to optimise data utility, said Jason du Preez, CEO of Privitar. Privitars native integration with Google Cloud Platform makes it easy for customers to leverage their data to gain valuable insights and to support data-driven decisions, without jeopardizing its safety.

The Privitar Data Privacy Platform provides a unique combination of privacy techniques, governance and management features that are essential to any organization embracing data-driven insight. The native integration with Google Cloud Platform enables customers to:

Privitar is a GCP Partner Advantage partner. For more information about Privitars new integration with Google Cloud Platform, visit: http://www.privitar.com/partners/google-cloud-partner

About PrivitarOrganizations worldwide rely on Privitar to protect their customers sensitive personal data and to deliver comprehensive data privacy that frees them to extract maximum value from the data they collect, manage and use.

Founded in 2014, Privitar is headquartered in London, with regional headquarters in Boston and Singapore, a development center in Warsaw, and sales and services locations throughout the US and Europe. For more information, please visit http://www.privitar.com.

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Neutrino Energy Will Power The Future’s Internet Consumption – Forbes India

As an increasing number of students and employees accomplish daily tasks from home, this additional internet usage has combined with gaming and streaming needs to bring about the most significant IT energy crisis of modern times. While it's easy to forget, keeping websites like Google, Facebook, and Netflix online requires an incredible amount of electrical energy, and the Neutrino Energy Group proposes that neutrino-derived electricity could be used to push server technology away from fossil fuels and toward true sustainability.Does IT Electrical Demand Damn Sustainable Energy to Fringe Applications?According to IT writer Mark Mills, the recent global lockdown clearly illustrates how our digital energy use is directly tied to future economic health. While gasoline consumption went down nearly 30 percent during the first week of lockdown in the United States, for instance, overall electrical consumption only decreased by seven percent. These figures actually indicate increased overall energy use across all sources, demonstrating how our ability to fuel online interactions will determine the viability of global technological society over the next few decades.At present, fossil fuels are the only energy technology capable of sustaining our combined internet needs. While existing renewable energy technologies can take some of the burden away from oil and coal, making a complete switch to renewables at this stage would cause the internet to collapse around the world.According to Mills, it is still "prohibitively expensive" to produce reliable energy from solar and wind farms since these energy technologies depend on specific environmental conditions to operate. What this seasoned tech author fails to point out, however, is the significant decrease in voltage that occurs when electricity is transported from sustainable energy farms to the server banks that operate the global cloud.On-Site Renewable Energy Generation Is RequiredIn 2015, two of the world's most prominent energy physics researchers independently discovered that neutrinos have mass, making these ethereal particles serious targets of sustainable energy research. Unlike wind or solar farms, neutrino-based energy technologies can operate anywhere, anytime regardless of environmental conditions.The neutrinovoltaic technology developed by the Neutrino Energy Group derives electrical energy from neutrinos, which are invisible and bombard the Earth in roughly equal numbers every moment of every day, instead of drawing energy from the visible spectrum of light.The revolutionary technology developed by the Neutrino Energy Group harvests a small amount of the kinetic energy of neutrinos as they pass through everything we see, and this kinetic-energy is then transformed into electricity.Solar cells can not be stacked on top of each other since they can only operate when they are unblocked from the suns rays. This design flaw ist not suffered by Neutrinvoltaic cells which means they can be stacked on top of each other with the bottom cells generating just as much electrical power as the cells on top.Neutrino Inside devices could operate mere centimeters away from server banks, eliminating voltage-over-distance energy decreases. In fact, Holger Thorsten Schubart,founder of the Neutrino Energy Group, even proposes that Neutrino Energy could be modified to fit inside existing technologies like cloud servers.Support the Neutrino Energy Group to Keep the Internet RunningWhile the present crisis spared the internet, we can't say the same for future economic catastrophes. The best way to preserve our ability to go online is to invest in renewable energy technologies, and neutrino energy is the only electricity-generating technology that can operate close to or inside of server banks. Support the Neutrino Energy Group to defend our IT infrastructure from any crisis the future may bring.For more information click here : https://neutrino-energy.comDisclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. NoForbes Indiajournalist was involved in the writing and production of this article.

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Norton 360 Deluxe review: Comprehensive security solution with built-in VPN – Business Standard

The latest offering of Norton, the security solution provider best known for its antivirus and internet security solutions, the Norton 360, doubles up as a service to safeguard privacy on the internet and also neutralise viruses and protect data.

The Norton 360 suite includes device protection from viruses and internet security, access to secure virtual private network (VPN), cloud storage for backup, password manager and parental controls. Moreover, it is a single-security solution that covers computers (Windows and Mac) and mobile devices (iOS and Android).

Being a subscription-based offering, the product comes in three yearly plans Standard, Deluxe 3 Devices and Deluxe. In the standard plan it offers a single-device support, in Deluxe 3 three devices, and in Deluxe five devices. We used the Deluxe subscription and tested the product on Android smartphone and Windows-based notebook.

Device protection

The device protection tools are available in all subscription plans. They include antivirus, anti-spyware and anti-malware protection. Besides, there are internet security tools, too. The device protection tools get regular updates over the internet for protection against newly found threats, therefore you need internet connectivity to keep the threats database up to date.

The device protection feature works in the background and does not impact the overall system performance. Moreover, it has a built-in feature to improve system performance. The feature works only when the system is idle. One might notice a slight lag in system when the performance improvement tasks are running in the background. However, the lag is temporary and the system comes back to normal operating conditions quickly.

As for protection, the Norton 360 provides comprehensive coverage against most threats. In fact, some independent benchmark portals state that it has 100 per cent protection rate against web threats. For optimal performance, however, you might need to install and set up all the add-ons that it offers, especially for internet security. These add-ons are available for most popular browsers, including Chrome, Edge and Firefox.

Data security

The Norton 360 has a built-in backup service for data security. The Norton 360 Deluxe subscription comes with 100GB cloud storage, which is good enough to store important files and documents on an encrypted online server. It is easy to set up and offers flexibility to choose what to back up and how frequently to run the backup to keep files updated on the cloud storage. Unfortunately, the cloud storage service is available for backups only. There is no provision to store anything else on the cloud server using browser or any other means. The backup and restoration is done exclusively through My Norton application.

Privacy

Virtual private network (VPN) is one of the easiest ways to protect ones privacy online, and it comes bundled with Norton 360. On desktop, the service is integrated within My Norton application. On smartphones, it requires an additional Norton VPN app. Setting it up is easy. Enable it, and the application automatically selects best server to provide safe internet experience. There is a fair list of global servers available, too, if you want to go beyond geography virtually.

A caveat: Some websites and services do not work when VPN is enabled.

Parental controls

The Norton 360 also lets parent you set up controls to monitor and manage the online activities of your children. Once set up, the Norton Parental Control lets parents see what videos their kids are watching, websites they visit, terms they search for, and apps they download. Besides, it also provides GPS location service for Android and iOS devices, content filtering for PCs and more.

Verdict

At Rs 3,999 for the yearly Deluxe subscription, the Norton 360 is a comprehensive solution that goes beyond safeguarding from conventional threats. It is a complete package that protects your devices, including smartphone, while also providing additional tools to make your work smooth. Moreover, the addition of VPN and cloud storage for backups makes it particularly useful for someone looking for a security solution.

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Microsoft Announces the General Availability of Windows Server Containers, and More for AKS – InfoQ.com

Almost a year ago, Microsoft launched a preview of Windows Server Containers in Azure Kubernetes Service (AKS). Now the company announced the general availability of Windows Server containers in AKS, including the support of private clusters and managed identities.

With the GA of Windows Server containers, enterprises can now lift-and-shift their Windows applications to run on managed kubernetes services in Azure. Moreover, developers in these enterprises can create, upgrade, and scale Windows node pools in AKS through the standard tools such as the Azure Portal or Command Line Interface (CLI) - Azure will help manage the health of the cluster automatically.

Furthermore, Windows and Linux applications can run in parallel on a single AKS cluster which makes it easier for enterprises to bundle their applications for business processes. Microsoft corporate vice president, Azure Compute Brendan Burns wrote in his blog post on the GA release:

Running both Windows and Linux applications side by side in a single AKS cluster, you can modernize your operations processes for a broader set of applications while increasing the density (and thus lowering the costs) of your application environment.

And Elton Stoneman, Microsoft Azure MVP and Docker Captain, told InfoQ:

It's fantastic to see Windows nodes reach General Availability in AKS - it's a real milestone in the journey towards moving all your apps into containers and onto the cloud. Kubernetes uses the same application manifest language for Windows and Linux apps, so you get a layer of consistency across all your applications. Older .NET Framework apps and new apps written in .NET Core or Go or Node.js all have the same artifacts to build and run them: Dockerfiles and Kubernetes manifests. You can develop and deploy all your apps using GitHub actions, publishing your images to the Azure Container Registry and deploying to AKS with the same simple workflows.

Microsoft is not the only public cloud vendor with Kubernetes services and support for Windows Containers. For instance, Amazon announced the general availability of Windows Container on Elastic Kubernetes Service (EKS)in October last year; however, it has some limitations. Also, Google brought the support of Windows Containers to its Google Kubernetes Engine (GKE)in preview at the beginning of this year and recently became ga.

Stoneman also told InfoQ:

I have been working with clients using Windows nodes in AKS under the preview release for several months now, and it has been very solid and easy to use. Lots of organizations have a roadmap for their Windows apps which starts by moving them to containers as-is with no code changes and then gradually breaking them up into distributed applications. Now with Windows nodes GA in AKS, that is a fully supported path in Azure. You can start by shifting .NET Framework monoliths into Windows pods, and incrementally split features out into .NET Core apps running in Linux pods, all on the same AKS cluster.

Besides the support for Windows Containers in AKS, Microsoft also announced support for private clusters and managed identities which are intended to provide developers with greater security capabilities and to easier meet compliance requirements. Private clusters allow the use of managed Kubernetes within a closed network - without connection to the internet. And, with private clusters, the security measures of highly regulated industries such as finance or healthcare can be met.

Next to the support for private clusters, AKS supports managed identities, which enables secure interaction with other Azure services such as Azure Monitor for Containers or Azure Policy. Furthermore, developers do not have to manage their service principals or rotate credentials often.

Lastly, Burns wrote in his blog post about the continuous development of more integrations between AKS and Azure Advisor and bringing industry best practices right into the AKS experience. Moreover, Microsoft is committed to bringing customer learning into the VS Code extension for Kubernetes to provide developers with advice and integrate security advice into the Azure Security Center. Developers, operator, and architects can, according to Burns, be successful with Kubernetes on Azure through the available learning, frameworks, and tools.

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Protecting the Cloud: Securing access to public cloud accounts – Naked Security

With hackers busy exploiting topical events to steal access credentials, properly maintaining the access roles and privileges for your AWS, Azure and Google Cloud Platform (GCP) accounts is an essential step in safeguarding the data and workloads you store with these cloud providers.

In this article Ill walk through how Sophos Cloud Optix, our cloud security posture management tool, helps you secure access to your public cloud accounts.

Multi-factor authentication (MFA) adds an extra layer of protection on top of a username and password, protecting against password compromise. All user accounts should have MFA enabled. Cloud Optix ensures MFA is enabled for AWS accounts, and the Cloud Optix service itself.

Identity and Access Management (IAM) is the AWS tool that controls access to services within your Amazon cloud account. You should ensure MFA is enabled for all IAM users that have AWS console access.

The Cloud Optix inventory view allows you to identify any IAM users without MFA enabled. This information is provided by an AWS Credentials report, which is updated by AWS every four hours.

To view this information in the Cloud Optix console, select Inventory in the left-hand navigation > Select IAM > Select MFA Disabled. Access to you AWS account is required to enable MFA for the users identified.

You can also use MFA to improve the security of your Cloud Optix console. This means you must use another form of authentication, as well as username and password, when you sign into Cloud Optix. Learn how to enable MFA for Cloud Optix.

The services within your Amazon cloud account will include server instances, databases, storage literally anything you run in Amazon. As best practice you should give users, groups and services only those privileges which are essential to perform their role. This minimizes risk and exposure.

However, keeping track of the actual use of the privileges assigned in IAM for all accounts, groups and roles can be a nearly impossible task without a lot of manual labor.

Cloud Optix IAM Visualization helps by visualizing these relationships, equipping your teams with a practical view to manage IAM and over-privileged access to cloud accounts and resources.

Accidental or malicious changes to the cloud resource configurations in AWS, Azure or GCP, such as S3 buckets, RDS, and EBS leave your organization exposed to automated hacker searches looking to exploit sensitive data.

Cloud Optix quickly identifies any publicly accessible data or website files, and provides guided or automated remediation pathways to make them private (and secure). Cloud Optix can also add an additional level of security to these critical services with Guardrails, ensuring no configuration changes are made without permission.

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Cloud Act is not a sovereign aggressive overreach by the US – News24

A few months ago, I was on yet another panel with yet another foreign academic who described the Clarifying Lawful Overseas Use of Data Act (Cloud Act) as an aggressive overreach by the US what he called expansive sovereignty.

I hadnt heard that particular term before. But I have heard the same basic epithet from numerous foreign governmental officials, many of whom worry that US will use the Cloud Act to scoop up foreigners data.

The world, understandably, has questions about the Cloud Act. The problem is, the rhetoric does not match the reality.

In contrast to the oft-heard assertions, the Cloud Act is a narrowly tailored act of limited application. It specifies that the US law enforcement officials can, in connection with a criminal investigation and according to detailed and specific standards and procedures, request emails and other data held by those companies subject to US jurisdiction.

The obligation to produce the sought-after data applies regardless of where the underlying 0s and 1s are stored.

Importantly, the Cloud Act is not an intelligence gathering tool. It is not an economic espionage tool. Law enforcement officials can only demand access to the data if it supports a criminal investigation over which the US has jurisdiction to prosecute.

READ:Should we be worried that the state will use mobile phones to trace us during the Covid-19 pandemic?

In order to get access to the data, law enforcement must meet specified standards and follow specified procedures. These standards and procedures apply across the board, whether the US is seeking the data of an American citizen, resident or foreigner.

For content, law enforcement needs a warrant issued by an independent judge based on a finding of probable cause. This is a relatively high bar for law enforcement to meet. In fact it is a more robust and more privacy protective standard than applies in just about any other country in the world.

Moreover, the reach is limited. US law enforcement cannot issue demands for emails and other communications content, from foreign companies that operate wholly outside the US.

That would be an extraterritorial assertion of authority and US law does not provide any mechanism for issuing warrants extraterritorially.

Contrast that with the draft EU E-evidence Directive, which requires any company that offers any services to the EU residents to install an EU-based representative, thereby ensuring EU jurisdiction over otherwise extraterritorially-located companies.

There is no equivalent requirement in US law.

Contrary to the rhetoric, the Cloud Act also adopts new provisions specifically designed to take into account foreign sovereign interests. It explicitly provides for a new statutory motion to quash a conflict with foreign law and if certain conditions are met.

It also expressly preserves the right of service providers to raise court challenges based on conflicting foreign law, even in situations where the statutory motion to quash is not available. This helps ensure that foreign government interests are taken into account.

We have not seen any such challenges litigated to date, in part because the conflicts have, at least until now, been more theoretical than real.

Consider the run-of-the mill US investigation of an American citizen with respect to a local murder or fraud investigation. Imagine that the US law enforcement officials served a warrant on Google or Facebook for relevant data, but, for whatever reason, the data is stored outside the US. Few, if any, foreign governments would claim a sovereignty invasion if the companies turned over that data.

Notably, despite the claims of some, Ireland never asserted a sovereignty violation in the long-standing litigation over whether US law enforcement officials could compel Microsoft to disclose emails held on a server in Dublin.

In court filings, Ireland emphasised that it would, in response to a diplomatic request, work with US government officials to access the data. But it never claimed that the US was required to make such a request. Or that the alternative approach taken violated its sovereignty.

That said, there are times when a conflict would arise if, say, the US is compelling the production of foreigners data protected by foreign law. Here, there is a legitimate foreign government interest at stake, that of protecting ones own citizens and residents.

If and when such a conflict arises, providers can and should bring a motion to quash, as the Cloud Act clearly allows. (US officials also should take steps to avoid such conflicts.)

This kind of approach makes sense. What matters is the protection of ones citizens and residents, not the location of bits and bytes that happen to flow through ones borders.

Meanwhile, the second part of the Cloud Act was, as many seem to forget, enacted at the behest of foreign governments, particularly the UK. Specifically, it was adopted in response to foreign governments frustrations about the difficulties in accessing their own nationals and residents communication content from US-based providers.

It puts in place a mechanism by which foreign governments can, subject to numerous safeguards and pre-conditions, request certain communications content from US-based service providers. This enables foreign governments to access certain data more expeditiously, without having to go through the laborious mutual legal assistance process to do so.

Of particular concern, the Cloud Act scapegoat is being pointed to by countries around the world to set limits on the transfer of data outside ones borders. The ironic result the US, through the Cloud Act, has taken steps to reduce restrictions on data transfers at the same time that other countries are pointing to the same act in support of their own data localisation mandates.

The Cloud Act is not perfect, but it is not the evil or expansive assertion of US snooping power that some claim it to be. To the contrary, it is a modest criminal law provision that largely codifies the status quo and adopts new provisions explicitly designed to accommodate foreign interest in US-held data.

Jennifer Daskal is a professor at the American University Washington College of Law

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What public clouds are coronavirus-themed threats hiding in? – ARNnet

Over 1,700 malicious coronavirus-themed domains are created every day, new research has found,and while the vast minority are being hosted in public clouds, theyre more likely to slip by some of the less-complex firewalls.

This is according to research conducted by PaloAlto Networks' threat intelligence team Unit 42, which analysed 1.2 million newly registered domain (NRD) names with keywords relating to the coronavirus pandemic, from 9 March to 26 April.

Of these, over 86,600 domains were categorised as risky or malicious according to Palo Alto Networks URL filtering efforts and augmented by its AutoFocus product, the WHOIS domain database and IP geolocation.

Most of the malicious domains were hosted in the US with 29,007 domains, followed by Italy with 2,877, Germany with 2,564 and Russia with 2,456, according to a blog post by Jay Chen, senior cloud vulnerability and exploit researcher at Unit 42. In comparison, Australia held only 534 malicious domains.

The vast majority of the malicious domains contained malware, at 79.8 per cent. Phishing attempts were next at 20 per cent, and then command and control (C2) malware made up the last 0.2 per cent.

The vast minority of the malicious domains were also found to be hosted in public clouds, at 2,829. Of these, most were hosted by Amazon Web Services (AWS) at 79.2 per cent. Google Cloud Platform (GCP) had 14.6 per cent, Microsoft Azure had 5.9 per cent and Alibaba had just 0.3 per cent.

Chen hypothesised that higher prices and stringent screening and monitoring processes were likely the reasons so few malicious domains were being hosted in public clouds.

However, the threat from domains in public clouds shouldn't be underestimated.

"Threats originating from the cloud can be more difficult to defend because malicious actors leverage the cloud resources to evade detection and amplify the attack, Chen said.

The analysis conducted by Unit 42 found in some cases that multiple domains could resolve to a single IP address and a single domain could be associated with multiple IP addresses.

As both scenarios involve multiple connections, malicious actors can skirt IP blacklisting from layer-3 firewalls and could render safe domains unreachable in the process, while stronger layer-7 firewalls may be able to separate the bad domains from the good ones, Chen said.

He explained that the first scenario typically occurs when domains are hosted in a content delivery network (CDN), like Amazon Cloudfront or Cloudflare.

In a CDN, hundreds or thousands of domains in the nearby geographical location may resolve to the same IP of an edge server, Chen said.

CDNs reduce network latency and improve service availability by caching the static web content on edge servers.

However, because a malicious domain shares the same IPs as other benign domains in the same CDN, it also acts as a cover for malicious domains.

In our analysis, a Cloudflare IP 23.227.38[.]64 is associated with more than 150 risky or malicious domains. E.g., covid-safe[.]shop, cubrebocascovid[.]com, http://www.covidkaukes[.]lt, protection-contre-le- coronavirus[.]com. In the same dataset, more than 2,000 other benign domains also resolve to the same IP.

Meanwhile, the second scenario may be the domain having a set of redundant hosts which all serve the same content, or it may also be in a CDN, Chen said.

If a domain has multiple redundant hosts, a DNS will hold multiple A records for this domain, he said.

If a domain is hosted in a CDN, the domain can resolve to different IP addresses based on the client's location. The IP of the closest edge server is always returned when a client queries DNS servers for this domain.

In our analysis, the domain covid19-fr.johanrin[.]com resolves to 28 different IPs where each IP belongs to an Amazon CloudFront edge server. E.g., 52.85.151[.]68, 99.84.191[.]82, 13.249.44[.]82, 54.192.30[.]118.

This research is the latest in a series of coronavirus-themed cybersecurity alerts.

Previous cybersecurity warnings preying on the fears of COVID-19 include scammers hijacking the Microsoft Office 365 and Adobe brands, text message scams, impersonation scams of local companies and international organisations, and fake antivirus software claiming to protect users from the biological virus.

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How to Set Up pCloud Drive in 2020 – Cloudwards

pCloud is a Swiss-based online file storage provider that was founded in 2013 and now has more than 10 million users. Its popularity has only continued to grow, and pCloud has consistently performed well in our rankings of the best cloud storage providers.

To learn more about why were such big fans, head over to our pCloud review. In this piece, well be talking about one specific aspect of the service: setting up pCloud Drive. This tutorial will show you how to download and set it up on a Windows computer, but the process is similar if youre setting it up on Mac or Linux.

pCloud Drive is a cross-platform desktop application used to sync files between a device and its secure servers. It also allows you to work with files that are stored on the pCloud servers without taking up space on your computer.

You can register with pCloud using just an email address and a password to get 2GB of free storage. Alternatively, you can log in through your Apple, Facebook or Google account.

Once youve got your pCloud account login details, you need to download pCloud Drive.

After you download pCloud Drive, you need to install it. By default, it will be installed on your C:/, but you can change the installation location by selecting options. Select install to proceed.

The installation will be completed a few moments later. Select launch to start configuring it.

It will ask you for your account login details. Enter the email and password you used earlier to create a pCloud account.

If you open File Explorer, youll now see the pCloud virtual drive in the left-hand pane. A menu icon will also be added to the taskbar (in the bottom right of the screen), which allows you to easily access and manage pClouds settings.

This program will automatically start when you log in to your computer. You can change that by opening up the application and selecting the settings tab. There are other settings you can change here, but we would recommend you leave them alone.

Heres where it can get a bit confusing. By default, this virtual folder is not synced to your local computer. This means that if you drag and drop files into it, they wont be available to use if youre not connected to the internet. Theyll be delivered straight to the cloud.

If you want to change this, then you need to open up the application, select the sync tab and then add new sync.

Choose a specific folder in your pCloud that you want to keep synced with somewhere on your computer.

You then need to choose where you want these synced files to be stored on your device. Select choose local folder and pick the folder that should be synced.

All thats left to do is confirm this by selecting add sync.

Now that these two folders are synced, any changes made within one of these folders will be mirrored in the other. This means that if you delete files in a local folder that is synced with pCloud, then it will also be deleted from the cloud.

Starts from $ 399 per month for 500 GBFree plan available Save 20 % All Plans

pCloud Drive is an excellent desktop client. It automatically sets up a virtual drive on your computer accessible like an old-fashioned mapped drive and allows you to sync areas of this virtual drive to your computer, too.

Signing up for a pCloud free plan gives you 2GB of free space and requires only an email address and a password. You can easily extend this to 10GB by verifying that your email address is real and sending out email invitations to your friends.

Sign up for our newsletterto get the latest on new releases and more.

If you need more space than this, pClouds paid plans are affordable. A lifetime plan is available, too, which isnt something youll find from alternatives like Amazon Drive or Google Drive (check out our pCloud vs Google Drive piece). This pCloud Lifetime plan represents excellent value for money.

It is disappointing that client-side encryption isnt included in pClouds paid plans, though. pCloud alternatives like Sync.com are cheaper and also have zero-knowledge encryption included. If thats something youre after, then check out our Sync.com review to learn more.

If you have any questions or problems about setting up pCloud Drive, you can get support in pClouds help center. Alternatively, let us know in the comment section below. Thanks for reading.

Starts from $ 500 per month for 1000 GBFree plan available All Plans

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Coronavirus & Altcoins: Why are Some Crypto Assets Beating Bitcoin? – Finance Magnates

Much of the discussion on the economic fallout that the coronavirus has caused in the cryptosphere has been focused around Bitcoinperhaps rightfully so. After all, as the largest cryptocurrency by market cap and the coin with the largest share of institutional cash, BTC is arguably the most visible crypto asset.

The Most Diverse Audience to Date at FMLS 2020 Where Finance Meets Innovation

However, the rise of the coronavirus has also had a number of striking effects on other cryptocurrency assets, and unlike Bitcoin, not all of them have been negative.

For example, in the stablecoin sphere, the market cap of Binance USD (BUSD) has more than doubled, rising from $68 million to roughly $190 million at press time. Similarly, Circles USD stablecoin jumped from roughly $440 million to $727 million over the same time period; Paxos Standard (PAX) grew from $200 million to $246 million.

Additionally, David Waslen, chief executive of HedgeTrade, pointed out to Tether (USDT), a stablecoin that some consider the next generation on-ramp for cryptocurrencies, namely bitcoin.

Currently, Tethers 24-hour trading volume is close to $80 billion; on March 13th, while stocks were plummeting, Tether reached an all-time high for trading volume at $94 billion, he said. Tether reserves are also sitting at ATHs.

However, beyond stablecoins, the coronavirus has also had varied and unique effects on the altcoin sphere.

What, exactly, have these effects been?

In the past, youve seen altcoins follow along pretty closely with bitcoins ebbs and flows, with certain decoupling here and there, said David Waslen, chief executive of HedgeTrade, to Finance Magnates. Leading up to 2020 and continuing today, there have been some altcoins that have taken a more divergent path.

However, the economic fallout of the coronavirus seems to have had an effect on the relationship between Bitcoin and altcoins: Waslen explained that since early March, they have correlated somewhat.

Indeed, Bitcoin took a 50% plunge but has steadily come backwithout massive cash infusions, I might add, Waslen said, while altcoins, for the most part, fell at the same time; everything was down.

Bitcoins market movements were also correlated with movements outside of the cryptosphere: Bitcoin fell almost in tandem with the DOW and other traditional indices (although it has since picked up the pace against most stocks), Waslen said.

Then, when the stimulus packages rolled out, stocks came back a little, as did virtual assets, he continued. But its in the recovery where both bitcoin and altcoins have shown promise over traditional stocks, which are still struggling (down 14% YTD) despite heavy corporate welfare.

Throughout this period, most altcoins fell at the same time, Waslen explained, but there were definitely some that had a quicker comeback than bitcoin during a time when stocks were bottoming.

When considering the reaction that altcoins have had to the coronavirus fallout, however, Waslen said that its important to consider the direction the space was headed before the pandemic began: theres a pretty big difference between altcoins in 2016-2017 and today, where you now have an immense blockchain infrastructure that is in a constant state of improvement, he said.

Between ample on and off ramps and a steady flux of new investors, many altcoins were already showing strength going into the start of COVID-19. Many have rallied back faster and more strongly than bitcoin, and, of course, stocks.

Waslen specifically pointed to Chainlink (LINK), which began a steep price climb on April 5th, one that diverged from most other coins at the time. Indeed, since Black Thursday, LINK has more than doubled its price.

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Waslen also mentioned Ethereum, which he said: is getting ever closer to a staking method conversion that is designed to help the Network scale.

Many of todays most promising crypto projects are built on Ethereum, and the upcoming ETH 2.0 upgrade could be an impetus for mass adoption of cryptocurrencies, he said, adding that on the year, ETH is up 39%, as opposed to BTCs rise of 17%.

Two additional assets that have warranted attention are Monero and Zcash, which Waslen said: have taken on an outlier status.

Both of these assets, which are two of the crypto industrys most popular privacy-focused coins, have seen substantial increases in price since the beginning of the year: Monero is up 30% YTD with Zcash up 40%, he said. With regulations on crypto tightening and people feeling financial privacy (and security) is a right, we see a corresponding interest in privacy coins, even more so since Black Thursday.

Additionally, you have cryptocurrencies like Binance (BNB) and HedgeTrade (HEDG), both of which are up over 22 % YTD, and Stellar (XLM) reaching over 37% on the year, Waslen said.

Indeed, all of these altcoins have outperformed bitcoin since the pandemic took hold, he continued. They also will likely ride on the laurels of a potential bull market triggered by bitcoins stock to flow and scarcity levels after the halving.

But why exactly are certain altcoins doing so well?

David Zeiler, cryptocurrency expert and associate editor of Money Morning,explained to Finance Magnatesthat while its true most cryptocurrencies sold off during the initial shock to the global markets, it wasnt necessarily because of any design flaw or lack of faith in crypto: [the sell-off] was due to a scramble for cash as investors got hit by margin calls in their leveraged stock holdings, Zeiler said.

People werent selling BTC or altcoins because of any direct link to the coronavirus.

Zeiler explained that indeed, the fact is that crypto is too young to be deeply integrated into the economy.

Most projects are still in various stages of development, he said. While they have the potential to be disruptive in the future, for now, no industries depend on crypto for anything critical.

In his view, this is precisely what has allowed many altcoins to have fared so well: thats what has allowed the altcoins to bounce back as quickly as they have, he explained. Once the initial shock passed, people saw the bargain prices and started buying crypto again.

Of course, this isnt to say the coronavirus has had no impact on the altcoins. The biggest issue is the shortage of venture capital (VC), which many young crypto projects need to maintain development.

Indeed, while altcoin prices may not be hurting as badly as other financial markets in the short-term, lost opportunities for connections to funding may hurt altcoin firmsand innovation more generallyin the longer-term.

For example, coronavirus has caused delays and cancellations in the many crypto conferences held throughout the world: one of the largest conferences, Consensus New York scheduled for mid-May, will take place entirely online.

Therefore, attendees will be able to watch the session, but will miss out on the opportunities for networking that are the life-blood of such conferences. Several of Finance Magnates events have also been postponed or moved online.

At the same time, however, the widespread lockdowns havent had much effect on the developers working on the altcoin code because theyre often spread out across the globe and are used to collaborating online.

As such, it could very well be that overall, crypto is getting off easy in this crisis.

What are your thoughts? Let us know in the comments below.

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Coronavirus & Altcoins: Why are Some Crypto Assets Beating Bitcoin? - Finance Magnates

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Binance Widget Incorporated on Brave Browser – Altcoin Buzz

Brave Browser has unveiled the integration of leading cryptocurrency exchange Binance widget across all desktop devices. This will enable Brave users from seamlessly accessing the exchange tobuy, trade, and receive crypto assets directly on the new tab page.

According to the announcement, the newest update (version 1.8) comes with these new features on Braves general desktop browser. Incidentally, the Nightly desktop had been offering a preview version along with a beta version for testing since March.

Notably, Brave users can now easily exchange Bitcoin, Ethereum, Ripple, and other cryptocurrencies supported by Binance.Additionally, users get the option to trade on both the Binance.com and Binance.US platforms. Also, they can view their balances, obtain deposit addresses, etc. from the comfort of their browser.

Binance has described the new integration as a step forward for cryptocurrency adoption globally. The exchange also noted that the widget would become available on Braves mobile platforms later in the year.

Changpeng Zhao, the CEO of Binance, described the widget as safe and easy to use. We are looking forward to our long-term partnership with Brave to make it easier to interact with crypto and encourage more utility soon, he added.

According to the announcement, the cooperation between Binance and Brave would greatly facilitate crypto access for its more than 13 million users.

Notably, the widget is built directly into the Browser, which automatically guarantees user privacy. It also ensures optimal security, as the only channel of communication with the Binance API is through authenticated user interaction.

Another key feature of the widget integration is that users can opt to disconnect the browser from their account without any fear of it impacting their Binance holdings.

Its important to note that Brave Browser has committed a lot of resources into creating access for users to crypto-related activities.Apart from its partnership with Binance, cryptocurrency exchange Gemini has said it would add support for Brave Browsers BAT token.

Although Google Chrome boasts billions of users around the world, Brave is closing the gap daily.

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Binance Widget Incorporated on Brave Browser - Altcoin Buzz

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