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The biggest cryptocurrency hack in the history of blockchain

Cryptocurrency, what do you imagine? Pile of paper currency? You imagined right and wrong. While there are individuals whove made millions and companies whove made billions. Also, there are people who lost millions and companies gone bankrupt.

Reason?

A couple of reasons. The price fluctuations, poor infrastructures and investing skills, and hack attacks. That being said, in this post, you will learn everything if you dont want to lose your money to some cyber criminal.

They say more than success stories, it is the failure stories that teach a lot. If you are aiming to become an investor or have your own company you should know about these hacks. As part of this guide, we will share the biggest hack attacks that changed the course of this industry and the problem that caused it. You can mitigate the problems and avoid the loss.

Lets get started.

The year 2013, Mt. Gox is the biggest bitcoin exchange platform in the world with a 70% market share. Max Karpeles, the founder of Mt Gox was on top of the world back then.

Fast forward to 2018.

The rate at which Mt Gox was growing, Mt Gox has captured more than 95% of the bitcoin exchange market by now. Max is sitting on a pile of 100-dollar bills, just like Joker did in the Dark Knight Rises.

Amazing isnt it?

Nope. Mt. Gox is nowhere in the market. Its disappeared in thin air. No ones talking about it. No newcomers know that it even existed.

The castle Max built was so mightly that he didnt notice small cracks in the foundation of the castle. Just a year later when Mt. Gox was at top of the world, in 2014, it got hacked. 70% of the bitcoin exchange market share, and the funds, all gone in a snap.

What went wrong? Lets peep into it.

Mt. Gox was a clear winner before it went extinct. But there were some foundational problems in Mt. Gox since the beginning.

Mt Gox has been busy developing a lot of features and that led to a lot of versions of the core platform. Keeping a record of the changes made became a tedious task. Therefore, tracing back at the time of bug fixes was a next-to-impossible task.

This exactly led to affect Mt.Goxs core software to exist with bugs and not perform as expected. This problem couldve been solved with the help of VCS (version control software), but there wasnt any back in those days. Heres why a VCSs are important for any product-based company:

With a lot of code changes in the core, software led to disfunctioning of the software. Mt.Gox did not have a testing policy that could do the needful. A leader in Bitcoin exchange simply throws away code that hasnt been tested, sounds pathetic? Yes, it does.

A lot of changes in code, without testing, comes to the CEO for approval. Only Max had the right to approve any code change. This did not go well with the number of changes that were made in the codebase. Max is a great programmer, but approving these many changes that too without testing was not good. Soon, he choked up and ended up being over-occupied. Considering his designation, it was not good for the company and himself.

A lot of code changes, lack of testing, code change approvals, led to a poor management. How do you expect a human being to outperform so much work without mistake? Max is a great programmer, no second thoughts about that. But when it comes to the role of a businessperson or decision maker, Max was not up to the mark. Max as a CEO went full-length busy and failed to foresee a disaster nearing.

It was 19th June when Bitcoin price fell down to one cent, and it was a sign to incoming disaster.

Source: Wikipedia

This was not a complete system failure. Instead, there was an attack that led to a price crash. The hackers got access to auditors computer and transferred a huge number of Bitcoins to their addresses. Furthermore, they used the same exchange platform to sell all the Bitcoins, so that they can disappear with the fiat money.

This led to the price drop, only within the system. But till then, it was too late for the company to withstand the blow. By this time, the companys spine was severely damaged to survive. Way over $8.7 million was stolen and by the time the company could adjust the propellers, the ship was already directing towards another disaster.

Fast forward 2014

In 2014, Mt. Gox system went slow and so slow that US banking authorities froze Mt Gox for violating the norms. On 7th Feb 2014, the company halted all the Bitcoin transactions to crawl back to the problem.

Upon a deep investigation, MtGox team found out that the core software was under a transaction malleability attack.

What is this now, youd ask.

As you must already know that blockchain has a tremendous ability to encrypt the data that cannot tamper by anyone, not even the owner of the blockchain. The blockchain encrypts the data using the cryptographic hash function.

But theres a loophole here.

If someone hacks into the blockchains core software and tamper the transaction just before it enters the blockchain, it can create a disaster. The hacker can alter the transaction and let it enter the blockchain. Once it enters the blockchain, it has no threat of being caught. Anyway, theres no way to trace back to the source of the transaction.

The hackers can flea with the money they stole from the transaction and no one will be able to anything for this. The send wouldnt even know that their money was stolen unless the company declares it upfront.

If you look at the code of a particular transaction, youd see signature data of a transaction that goes along with the input data in the blockchain. Guess what?

This signature data can be manipulated, which further can change the transaction ID. Furthermore, changing the transaction ID will technically eliminate the original transaction from existence and make it look as if it didnt even happen.

Picture this:

Tony owes 5BTC to Mark and Mark requests 5BTC from Tony. Tony initiates the transaction by sending 5BTC to him and the transaction waits in the queue for approval. Amidst this waiting period, Mark can alter the signature and hence the transaction ID and steal 5BTC from that transaction.

After this, Mark would tell Tony that he has not received the payment. Tony would confirm it by looking at the transaction. From his end, the transaction would be shown as pending. To this, Tony would reinitiate the transaction and this time Mark wouldnt do any tampering. This way, Mark would get 10 instead of 5 BTC.

Theres another catch here. Since Mark is aware of Tonys sending address, he could easily figure out the transaction and tamper data of only that. This was not the case with data tampering happened in MtGox. Hackers tampered data of all the transactions they can roll their eyes on.

This is exactly what happened behind the scenes in the MtGox hack attack in 2014. Hackers took advantage of the mismanagement and were able to bag $473 million worth BTC for free. Furthermore, this was almost 7% of the worlds supply of Bitcoin at that time, that was stolen from MtGox.

After the attack, the graph showing the price crash is terrible to look at. By the time Bitcoin started becoming a mainstream, Mt Gox underwent this attack. Everyone thought after this attack, Bitcoin would not survive for long. Sure, immediate effects werent good enough and the price went down like a steep valley.

Mt Gox declared bankruptcy after this attack and price crash. However, later it was discovered that the Bitcoin that were stolen were being laundered through another exchange, BTC-e. Alexander Vinnik, the owner of BTC-e has been accused of laundering the stolen Bitcoins. The Greek court has moved this case from their national jurisdiction to the US regulatories. If the accusation is right, he will be sentenced to 55 years of prison.

Bitcoin, as a network of the blockchain, was powerful enough to withstand the attack.

Another hack attack that happened recently ripped the industry one more time. This time it was $80 million or 4700 BTC. On Dec 6th, 2017, around 00:18 GMT, Solvenian exchange platform was hacked.

Announcing about the attack, CEO of NiceHash, Marko Kobal appeared on Facebook live. He addressed the followers and announced about the attack. As you would expect, he refrained from revealing much about the attack. The only thing he said was that an employees computer was compromised that led to the heist.

NiceHash suspended all the transactions for next 24 hours to reverse analyze what went wrong and know what exactly couldve saved the platform from attack. In a press release, this is what Marko said,

Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.

Sure, there have been many cryptocurrency hacks. But in our opinion, there hasnt been any attack as Mt Gox. It tore apart the industry and faith of investors that their money is safe in this decentralized platform.

The key thing here to note is that all these attacks were on exchange platforms. It is nearly impossible to attack a blockchain and steal funds from there. Like Mt Gox, if someone tries to alter transaction ID and steal money from the transaction before it gets confirmed. Its impossible without an exchange platform. Because thats the only medium where hackers can get hold of a transaction. If there werent exchange platforms, there would be a 100 percent safe fund transfer experience. There is no room for a hacker to phish and steal anything from the network.

Furthermore, there have been attacks like the DAO on Ethereum (detailed analysis-based guide coming up), that led to the birth of whole new blockchain, Ethereum, and Ethereum classic. The original blockchain had to fork out (hard fork) and form a whole new blockchain platform.

That being said, you are now well-informed to take an educated decision and invest in cryptocurrency or create a cryptocurrency exchange platform or create a cryptocurrency. There has been enough attack on this amazing new space where everything is possible.

That being said, we made it to the end of this guide. We are sure that we helped you understand the reasons why a platform gets attacked and how you can avoid it. Share this post on your social media platforms to help more people understand about this.

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Download Bitdefender Internet Security 2019 23.0.8.17

IMPORTANT NOTICE

BitDefender Internet Security is a complete protection suite designed to provide your computer with the latest technologies against viruses, phishing, hackers and other virtual threats that may come your way. Besides the antivirus engine, the suite also bundles antispam, parental control and social network protection.

The interface is very user-friendly and attractive. It enables you to view the current protection status for the antivirus, firewall, and antispam modules, while updates are automatically applied on a regular basis (there's also a manual option to check for new updates and install them on the spot).

The parental module (a highly intuitive function that also comes with predefined profiles) can be extensively configured to filter online websites for children, while scanning options include quick, full system, custom, vulnerability scan and a rescue mode.

BitDefender Internet Security provides a strong wall of protection against e-threats and phishing attempts. A special feature of the suite is Bitdefender Safepay, a unique capability designed to secure your banking operations and prevent your financial data from being hacked.

BitDefender Internet Security comes with a lot of other valuable features, including an adjustable scanning mode, instant messaging control, Facebook control, a BitDefender toolbar (monitors online traffic and other activity). Switching to auto pilot mode will disable BitDefender from displaying any notifications.

Our tests ran smoothly as it seems that, once again, BitDefender manages to keep up with modern standards. Memory is moderately used during an active scan and the application didn't present any bugs or crashes whatsoever.

Thanks to the very strong feature pack and to the impenetrable defense it offers for online and offline activities, you should give this Internet Security suite a try as your main antivirus as it will surely not let you down.

Virus scanner Virus remover Spyware blocker Antivirus Antispyware Firewall Antispam

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What Is Quantum Computing? The Complete WIRED Guide | WIRED

Big things happen when computers get smaller. Or faster. And quantum computing is about chasing perhaps the biggest performance boost in the history of technology. The basic idea is to smash some barriers that limit the speed of existing computers by harnessing the counterintuitive physics of subatomic scales.

If the tech industry pulls off that, ahem, quantum leap, you wont be getting a quantum computer for your pocket. Dont start saving for an iPhone Q. We could, however, see significant improvements in many areas of science and technology, such as longer-lasting batteries for electric cars or advances in chemistry that reshape industries or enable new medical treatments. Quantum computers wont be able to do everything faster than conventional computers, but on some tricky problems they have advantages that would enable astounding progress.

Its not productive (or polite) to ask people working on quantum computing when exactly those dreamy applications will become real. The only thing for sure is that they are still many years away. Prototype quantum computing hardware is still embryonic. But powerfuland, for tech companies, profit-increasingcomputers powered by quantum physics have recently started to feel less hypothetical.

The cooling and support structure for one of IBM's quantum computing chips (the tiny black square at the bottom of the image).

Amy Lombard

Thats because Google, IBM, and others have decided its time to invest heavily in the technology, which, in turn, has helped quantum computing earn a bullet point on the corporate strategy PowerPoint slides of big companies in areas such as finance, like JPMorgan, and aerospace, like Airbus. In 2017, venture investors plowed $241 million into startups working on quantum computing hardware or software worldwide, according to CB Insights. Thats triple the amount in the previous year.

Like the befuddling math underpinning quantum computing, some of the expectations building around this still-impractical technology can make you lightheaded. If you squint out the window of a flight into SFO right now, you can see a haze of quantum hype drifting over Silicon Valley. But the enormous potential of quantum computing is undeniable, and the hardware needed to harness it is advancing fast. If there were ever a perfect time to bend your brain around quantum computing, its now. Say Schrodingers superposition three times fast, and we can dive in.

The prehistory of quantum computing begins early in the 20th century, when physicists began to sense they had lost their grip on reality.

First, accepted explanations of the subatomic world turned out to be incomplete. Electrons and other particles didnt just neatly carom around like Newtonian billiard balls, for example. Sometimes they acted like waves instead. Quantum mechanics emerged to explain such quirks, but introduced troubling questions of its own. To take just one brow-wrinkling example, this new math implied that physical properties of the subatomic world, like the position of an electron, didnt really exist until they were observed.

Physicist Paul Benioff suggests quantum mechanics could be used for computation.

Nobel-winning physicist Richard Feynman, at Caltech, coins the term quantum computer.

Physicist David Deutsch, at Oxford, maps out how a quantum computer would operate, a blueprint that underpins the nascent industry of today.

Mathematician Peter Shor, at Bell Labs, writes an algorithm that could tap a quantum computers power to break widely used forms of encryption.

D-Wave, a Canadian startup, announces a quantum computing chip it says can solve Sudoku puzzles, triggering years of debate over whether the companys technology really works.

Google teams up with NASA to fund a lab to try out D-Waves hardware.

Google hires the professor behind some of the best quantum computer hardware yet to lead its new quantum hardware lab.

IBM puts some of its prototype quantum processors on the internet for anyone to experiment with, saying programmers need to get ready to write quantum code.

Startup Rigetti opens its own quantum computer fabrication facility to build prototype hardware and compete with Google and IBM.

If you find that baffling, youre in good company. A year before winning a Nobel for his contributions to quantum theory, Caltechs Richard Feynman remarked that nobody understands quantum mechanics. The way we experience the world just isnt compatible. But some people grasped it well enough to redefine our understanding of the universe. And in the 1980s a few of themincluding Feynmanbegan to wonder if quantum phenomena like subatomic particles' dont look and I dont exist trick could be used to process information. The basic theory or blueprint for quantum computers that took shape in the 80s and 90s still guides Google and others working on the technology.

Before we belly flop into the murky shallows of quantum computing 0.101, we should refresh our understanding of regular old computers. As you know, smartwatches, iPhones, and the worlds fastest supercomputer all basically do the same thing: they perform calculations by encoding information as digital bits, aka 0s and 1s. A computer might flip the voltage in a circuit on and off to represent 1s and 0s for example.

Quantum computers do calculations using bits, too. After all, we want them to plug into our existing data and computers. But quantum bits, or qubits, have unique and powerful properties that allow a group of them to do much more than an equivalent number of conventional bits.

Qubits can be built in various ways, but they all represent digital 0s and 1s using the quantum properties of something that can be controlled electronically. Popular examplesat least among a very select slice of humanityinclude superconducting circuits, or individual atoms levitated inside electromagnetic fields. The magic power of quantum computing is that this arrangement lets qubits do more than just flip between 0 and 1. Treat them right and they can flip into a mysterious extra mode called a superposition.

The looped cables connect the chip at the bottom of the structure to its control system.

Amy Lombard

You may have heard that a qubit in superposition is both 0 and 1 at the same time. Thats not quite true and also not quite falsetheres just no equivalent in Homo sapiens humdrum classical reality. If you have a yearning to truly grok it, you must make a mathematical odyssey WIRED cannot equip you for. But in the simplified and dare we say perfect world of this explainer, the important thing to know is that the math of a superposition describes the probability of discovering either a 0 or 1 when a qubit is read outan operation that crashes it out of a quantum superposition into classical reality. A quantum computer can use a collection of qubits in superpositions to play with different possible paths through a calculation. If done correctly, the pointers to incorrect paths cancel out, leaving the correct answer when the qubits are read out as 0s and 1s.

A device that uses quantum mechanical effects to represent 0s and 1s of digital data, similar to the bits in a conventional computer.

It's the trick that makes quantum computers tick, and makes qubits more powerful than ordinary bits. A superposition is in an intuition-defying mathematical combination of both 0 and 1. Quantum algorithms can use a group of qubits in a superposition to shortcut through calculations.

A quantum effect so unintuitive that Einstein dubbed it spooky action at a distance. When two qubits in a superposition are entangled, certain operations on one have instant effects on the other, a process that helps quantum algorithms be more powerful than conventional ones.

The holy grail of quantum computinga measure of how much faster a quantum computer could crack a problem than a conventional computer could. Quantum computers arent well-suited to all kinds of problems, but for some they offer an exponential speedup, meaning their advantage over a conventional computer grows explosively with the size of the input problem.

For some problems that are very time consuming for conventional computers, this allows a quantum computer to find a solution in far fewer steps than a conventional computer would need. Grovers algorithm, a famous quantum search algorithm, could find you in a phone book with 100 million names with just 10,000 operations. A classical search algorithm would require 50 million operations, on average, to spool through all the listings and find you. For Grovers and some other quantum algorithms, the bigger the initial problemor phonebookthe further behind a conventional computer is left in the digital dust.

The reason we dont have useful quantum computers today is that qubits are extremely finicky. The quantum effects they must control are very delicate, and stray heat or noise can flip 0s and 1s, or wipe out a crucial superposition. Qubits have to be carefully shielded, and operated at very cold temperatures, sometimes only fractions of a degree above absolute zero. Most plans for quantum computing depend on using a sizable chunk of a quantum processors power to correct its own errors, caused by misfiring qubits.

Recent excitement about quantum computing stems from progress in making qubits less flaky. Thats giving researchers the confidence to start bundling the devices into larger groups. Startup Rigetti Computing recently announced it has built a processor with 128 qubits made with aluminum circuits that are super-cooled to make them superconducting. Google and IBM have announced their own chips with 72 and 50 qubits, respectively. Thats still far fewer than would be needed to do useful work with a quantum computerit would probably require at least thousandsbut as recently as 2016 those companies best chips had qubits only in the single digits. After tantalizing computer scientists for 30 years, practical quantum computing may not exactly be close, but it has begun to feel a lot closer.

Some large companies and governments have started treating quantum computing research like a raceperhaps fittingly its one where both the distance to the finish line and the prize for getting there are unknown.

Google, IBM, Intel, and Microsoft have all expanded their teams working on the technology, with a growing swarm of startups such as Rigetti in hot pursuit. China and the European Union have each launched new programs measured in the billions of dollars to stimulate quantum R&D. And in the US, the Trump White House has created a new committee to coordinate government work on quantum information science. Several bills were introduced to Congress in 2018 proposing new funding for quantum research, totalling upwards of $1.3 billion. Its not quite clear what the first killer apps of quantum computing will be, or when they will appear. But theres a sense that whoever is first make these machines useful will gain big economic and national security advantages.

Copper structures conduct heat well and connect the apparatus to its cooling system.

Amy Lombard

Back in the world of right now, though, quantum processors are too simple to do practical work. Google is working to stage a demonstration known as quantum supremacy, in which a quantum processor would solve a carefully designed math problem beyond existing supercomputers. But that would be an historic scientific milestone, not proof quantum computing is ready to do real work.

As quantum computer prototypes get larger, the first practical use for them will probably be for chemistry simulations. Computer models of molecules and atoms are vital to the hunt for new drugs or materials. Yet conventional computers cant accurately simulate the behavior of atoms and electrons during chemical reactions. Why? Because that behavior is driven by quantum mechanics, the full complexity of which is too great for conventional machines. Daimler and Volkswagen have both started investigating quantum computing as a way to improve battery chemistry for electric vehicles. Microsoft says other uses could include designing new catalysts to make industrial processes less energy intensive, or even to pull carbon dioxide out of the atmosphere to mitigate climate change.

Quantum computers would also be a natural fit for code-breaking. Weve known since the 90s that they could zip through the math underpinning the encryption that secures online banking, flirting, and shopping. Quantum processors would need to be much more advanced to do this, but governments and companies are taking the threat seriously. The National Institute of Standards and Technology is in the process of evaluating new encryption systems that could be rolled out to quantum-proof the internet.

When cooled to operating temperature, the whole assembly is hidden inside this white insulated casing.

Amy Lombard

Tech companies such as Google are also betting that quantum computers can make artificial intelligence more powerful. Thats further in the future and less well mapped out than chemistry or code-breaking applications, but researchers argue they can figure out the details down the line as they play around with larger and larger quantum processors. One hope is that quantum computers could help machine-learning algorithms pick up complex tasks using many fewer than the millions of examples typically used to train AI systems today.

Despite all the superposition-like uncertainty about when the quantum computing era will really begin, big tech companies argue that programmers need to get ready now. Google, IBM, and Microsoft have all released open source tools to help coders familiarize themselves with writing programs for quantum hardware. IBM has even begun to offer online access to some of its quantum processors, so anyone can experiment with them. Long term, the big computing companies see themselves making money by charging corporations to access data centers packed with supercooled quantum processors.

Whats in it for the rest of us? Despite some definite drawbacks, the age of conventional computers has helped make life safer, richer, and more convenientmany of us are never more than five seconds away from a kitten video. The era of quantum computers should have similarly broad reaching, beneficial, and impossible to predict consequences. Bring on the qubits.

The Quantum Computing Factory Thats Taking on Google and IBMPeek inside the ultra-clean workshop of Rigetti Computing, a startup packed with PhDs wearing what look like space suits and gleaming steampunk-style machines studded with bolts. In a facility across the San Francisco Bay from Silicon Valley, Rigetti is building its own quantum processors, using similar technology to that used by IBM and Google.

Why JP Morgan, Daimler Are Testing Quantum Computers That Arent Useful YetWall Street has plenty of quantsmath wizards who hunt profits using equations. Now JP Morgan has quantum quants, a small team collaborating with IBM to figure out how to use the power of quantum algorithms to more accurately model financial risk. Useful quantum computers are still years away, but the bank and other big corporations say that the potential payoffs are so large that they need to seriously investigate quantum computing today.

The Era of Quantum Computing is Here. Outlook: CloudyCompanies working on quantum computer hardware like to say that the field has transitioned from the exploration and uncertainty of science into the more predictable realm of engineering. Yet while hardware has improved markedly in recent years, and investment is surging, there are still open scientific questions about the physics underlying quantum computing.

Quantum Computing Will Create Jobs. But Which Ones?You cant create a new industry without people to staff the jobs it creates. A Congressional bill called the National Quantum Initiative seeks to have the US government invest in training the next generation of quantum computer technicians, designers, and entrepreneurs.

Job One For Quantum Computers: Boost Artificial IntelligenceArtificial intelligence and quantum computing are two of Silicon Valleys favorite buzzwords. If they can be successfully combined, machines will get a lot smarter.

Loopholes and the Anti-Realism Of the Quantum WorldEven people who can follow the math of quantum mechanics find its implications for reality perplexing. This book excerpt explains why quantum physics undermines our understanding of reality with nary an equation in sight.

Quantum Computing is the Next Security Big Security RiskIn 1994, mathematician Peter Shor wrote an algorithm that would allow a quantum computer to pierce the encryption that today underpins online shopping and other digital. As quantum computers get closer to reality, congressman Will Hurd (R-Texas) argues the US needs to lead a global effort to deploy new forms of quantum-resistant encryption.

This guide was last updated on August 21, 2018.

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7 Altcoin Exchanges Without KYC & AML – CoinSutra

If you are, you have come to the right place.

I am going to tell you about a few altcoin exchanges that allow you to trade without going through the KYC and AML check. Not only this, there are no withdrawal or deposit limits to stop you from buying/selling bags of altcoins.

Needless to say, this will be the norm once the decentralized exchanges increase their market share, which I think is going to take a while.

Until then, we can use these services, some of which are centralized and some of which are decentralized, to avoid KYC and AML to protect your privacy.

1. Changelly

Changelly,a centralized cryptocurrency swapping service, which does not push you to complete the KYC or AML in order to use its services.

There is no ID verification registration that you need to do for using their services. For enhanced security, you can even use this service with a VPN.

This method, however, requires you to have supporting altcoins like LTC/ETH/DASHetc to exchange for BTC or any other supporting currency. If you have altcoins, you can buy Bitcoins in seconds with no verification using Changelly.

Use ShapeShift Now

2. BitShares

BitShares is decentralized exchange based on graphene blockchain technology.

As it is a decentralized exchange, there is no need for any verification, KYC or AML, before using this service.

Opening an account on BitShares is quite easy as it doesnt require any registration or KYC to start with. The only thing that you need to take care is your login password and username because that is what will help you in case something goes wrong.

Your password will look something like: P5KSgr3tMUE4vLo9uwWJScsD5sQYg6BLa7QCT3e9XTe6C

Thevolumeat the time of writing on this exchange is 1900 BTC which is fairly decent for a decentralized exchange with no AML or KYC.

Use OpenLedger Dex Now

3.CryptoBridge Dex

CryptoBrige is another decentralized exchange which has come up only recently.

Being a decentralized exchange means this too doesnt require any AML or KYC. They also have their native token called BCO which you can hold and stake to receive bonus rewards from the CryptoBridge exchange. If you want to deep dive into BCO and CryptoBridge, read this detailed guide on CryptoBridge DEX.

The login process is quite simple where you simply need to select a unique username post which a cryptographic password will be generated automatically which you need to note down and keep safely.

The password will look something like:P5K19WQQp1WWtWQjXwDA2cmPpoyqJhcCfhqYQt5TFC4tW

Thevolume at the time of writingon this exchange is 201 BTC which is not a bad number for a decentralized exchange with 56 cryptocurrencies/crypto assets pairs listed on it.

Use Crypto Bridge Dex Now

Also see:

How to Stake BCO on CryptoBridge Decentralised Exchange [Tutorial]

4. BitMEX

Bitmex is another centralized exchange which doesnt require you to undergo AML and KYC for deposit and withdrawals.

Despite it being a predominantly BTC exchange, you will also find some altcoins like DASH, Cardano, Bitcoin Cash, Ethereum, Ethereum Classic etc.

When you use the Bitmex exchange, you need not worry about liquidity because it has a humongous volume of over 126,000 BTC with a ranking in top 10 on CMC.

Join Bitmex

5.Bisq (aka BitSquare)

BitSquare is a peer-to-peer marketplace forcryptocurrencieslikeBTC, ETH etc. It is a fully decentralized exchange which requires no name, email ID or verification so there is no question of KYC or AML.

Also, your privacy is secured because it uses Tor and doesnt hold fiat or bitcoins on their serversor in their account. Currently, itsupports 126 cryptocurrencies(including BTC) and is available on Windows, Mac and Linux platforms. The trade volumes, however, are low.

Thevolume at the time of writingon this exchange is 4 BTC with 11 cryptocurrencies/crypto assets pairs listed on it.

Here is an introductory video on Bitsquare:

6. EtherDelta

EtherDelta is an altcoin exchange only for Ethereum based tokens also know as ERC 20 tokens.

It is also a decentralized exchange so there are no deposit or withdrawal limits or any requirement of AML or KYC.

The only drawback of this exchange is the speed as everything you do on this exchange is smart contract-powered and requires you to pay GAS price.

Thevolume at the time of writingon this exchange is 1308 BTC with 335+ cryptocurrencies/crypto assets pairs listed on it.

Note: Do not leave your cryptos on EtherDeltas contracts. Instead you can use this exchange safely without worrying about hacks via Ledger Nano S (Link Ledger Nano S & EtherDelta Article)

Join EtherDelta

7. IDEX

IDEX is the most advanced decentralized exchange for Ethereum-based tokens.

It has gas-free cancels and limit orders which you will not find in EtherDelta. Being a decentralized exchange means that one doesnt need to go through AML or KYC verification for trading on it.

To get started on IDEX, you can simply create a new account and save your private keys offline and also use this exchange in tandem with Ledger Nano S without the fear of getting hacked.

Thevolume at the time of writingon this exchange is 590 BTC with +100 cryptocurrencies/crypto assets pairs listed on it.

Join IDEX

Conclusion

I think not requiring AML and KYC will become more mainstream this year because a lot of decentralized exchanges are in the pipeline which may put the centralized exchanges under pressure to get rid of the KYC requirements.

Also, having AML and KYC goes against the basic tenant of decentralized currencies which is why we are witnessing the unprecedented development of decentralized infrastructure which is putting privacy at the forefront.

Well, that is all from my side.

Now it is time to hear from you: If you know more altcoin and cryptocurrency services that dont require AML & KYC, share it with us in the comment section below.

Some hand-picked articles for further reading onCoinSutra:

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7 Altcoin Exchanges Without KYC & AML - CoinSutra

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New EBS Encryption for Additional Data Protection | AWS …

We take data protection very seriously! Over the years we have added a number of security and encryption features to various parts of AWS. We protect data at rest with Server Side Encryption for Amazon S3 and Amazon Glacier, multiple tiers of encryption for Amazon Redshift, and Transparent Data Encryption for Oracle and SQL Server databases via Amazon RDS. We protect data in motion with extensive support for SSL/TLS in CloudFront, Amazon RDS, and Elastic Load Balancing.

Today we are giving you yet another option, with support for encryption of EBS data volumes and the associated snapshots. You can now encrypt data stored on an EBS volume at rest and in motion by setting a single option. When you create an encrypted EBS volume and attach it to a supported instance type, data on the volume, disk I/O, and snapshots created from the volume are all encrypted. The encryption occurs on the servers that host the EC2 instances, providing encryption of data as it moves between EC2 instances and EBS storage.

Enabling EncryptionYou can enable EBS encryption when you create a new volume:

You can see the encryption state of each of your volumes from the console:

Important DetailsAdding encryption to a provisioned IOPS (PIOPS) volume will not affect the provisioned performance. Encryption has a minimal effect on I/O latency.

The snapshots that you take of an encrypted EBS volume are also encrypted and can be moved between AWS Regions as needed. You cannot share encrypted snapshots with other AWS accounts and you cannot make them public.

As I mentioned earlier, your data is encrypted before it leaves the EC2 instance. In order to be able to do this efficiently and with low latency, the EBS encryption feature is only available on EC2s M3, C3, R3, CR1, G2, and I2 instances. You cannot attach an encrypted EBS volume to other instance types.

Also, you cannot enable encryption for an existing EBS volume. Instead, you must create a new, encrypted volume and copy the data from the old one to the new one using the file manipulation tool of your choice. Rsync (Linux) and Robocopy (Windows) are two good options, but there are many others.

Each newly created volume gets a unique 256-bit AES key; volumes created from encrypted snapshots share the key. You do not need to manage the encryption keys because they are protected by our own key management infrastructure, which implements strong logical and physical security controls to prevent unauthorized access. Your data and associated keys are encrypted using the industry-standard AES-256 algorithm.

Encrypt NowEBS encryption is available now in all eight of the commercial AWS Regions and you can start using it today! There is no charge for encryption and it does not affect the published EBS Service Level Agreement (SLA) for availability.

Jeff;

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After the Bitcoin Boom: Hard Lessons for Cryptocurrency …

SAN FRANCISCO Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

I got too caught up in the fear of missing out and trying to make a quick buck, he said last week. The losses have pretty much left me financially ruined.

Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, according to data from the website coinmarketcap.com.

The virtual currency markets have been through booms and busts before and recovered to boom again. But this bust could have a more lasting impact on the technologys adoption because of the sheer number of ordinary people who invested in digital tokens over the last year, and who are likely to associate cryptocurrencies with financial ruin for a very long time.

What the average Joe hears is how friends lost fortunes, said Alex Kruger, a former banker who has been trading in the cryptocurrency markets for some time. Irrational exuberance leads to financial overhang and slows progress.

It is hard to know how many cryptocurrency investors are now in the red, with holdings worth less than the money they put in. Many who have lost money in recent months had gotten into the markets before the big run-up last year, and their holdings are still worth more than their initial investments.

But by many metrics, more people put money into virtual currencies last fall and winter than in all of the preceding nine or so years. Coinbase, the largest cryptocurrency brokerage in the United States, doubled its number of customers between October and March. The start-up Square began allowing the users of its mobile app, Square Cash, to buy Bitcoin last November.

Almost all of the new customers on Coinbase and Square would be in the red if they bought cryptocurrencies at almost any point over the last nine months and held on to them.

The damage is likely to be particularly bad in places like South Korea and Japan, where there was minimal cryptocurrency activity before last year, and where ordinary investors with little expertise jumped in with abandon.

In South Korea, the biggest exchanges opened storefronts to make investment easier for people who didnt feel comfortable doing it online. The offices of one big exchange, Coinone, had just one customer walk in during a two-hour period in the middle of the day last week. An employee, Yu Ji-Hoon, said, The prices of the digital tokens have fallen so much that people seem to feel upset.

Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

I thought that cryptocurrencies would be the one and only breakthrough for ordinary hardworking people like us, she said. I thought my family and I could escape hardship and live more comfortably, but it turned out to be the other way around.

In the United States, Charles Herman, a 29-year-old small-business owner in Charleston, S.C., became obsessed with virtual currencies in September. He said he now felt that he had wasted 10 months of his life trying to play the markets.

While he is essentially back to the $4,000 he put in, he has soured on the revolutionary promises that virtual currency fanatics made for the technology last year and has resumed investing his money in real estate.

I guess I thought we were sticking it to the man when I got on board, Mr. Herman said. But I think the man had already caught on, and had an exit strategy.

Much of the anger that investors feel is toward the smaller virtual currencies, or alt coins, that entrepreneurs sold in so-called initial coin offerings. These coins were supposed to serve as payment mechanisms for new software the entrepreneurs were building.

But almost none of these companies have delivered the software they promised, leaving the tokens useless, except as speculative assets. Several coins have been exposed as outright scams.

I think Id like to see most alts go to zero before I feel like the whole space isnt overpriced, Mr. Herman said.

Bitcoin has generally held on better with investors. It is down about 70 percent from all-time highs, rather than the 90-percent losses that lesser-known digital tokens have suffered. But it, too, has struggled to win much use beyond speculative investments.

We also saw that Bitcoin isnt ready for mass adoption and day-to-day use, Mr. Herman said.

Despite this pessimism, the social networks where cryptocurrency fanatics gather to trade information are full of people talking about their intention to hold on to their coins, in the hope that they will recover once the technology has time to catch up with the hype.

Tony Yoo, 26, a financial analyst in Los Angeles, invested more than $100,000 of his savings last fall. At their lowest point, his holdings dropped almost 70 percent in value.

But Mr. Yoo is still a big believer in the idea that these tokens can provide a new way to transact online, without the big corporate middlemen we rely on today. Many of the groups that raised money last year are still working on the products they promised, with lots of serious engineers drawn to the projects.

Theres just so much more behind this new wave of technology and innovation that Im sure will take over our society in due time, Mr. Yoo said.

With prices down so much, he said he was actually looking to put more money into the markets.

That thinking has been encouraged by the people who invested in Bitcoin in 2013, when it first topped $1,000. That bull market was followed by a crash in which the price of Bitcoin dropped more than 80 percent. But after a long fallow period, the price recovered. Even with recent losses, the value of one Bitcoin was hovering around $6,300 on Monday up more than 500 percent from the peak of 2013.

Five years ago, I was broke, unemployed, and ashamed to use my real name, Ryan Selkis, a popular virtual currency personality, wrote on Twitter last week. For the new fanatics, stick around for your own 14 month, 85% downdraft and youll not regret it.

Twitter is also filled with complaints, like the one from a user named @Notsofrugaljoey, who wrote: Its really hard to stomach losing all my hard earned money. Just broke down and cried.

On Reddit, a user in the United Arab Emirates posted a picture of the $100,000 loan that he had taken out in December to buy cryptocurrencies and that he will now be paying back out of his salary for the next three years.

Mr. Roberts, the British investor who has seen most of his $23,000 vanish, is holding on to his coins in case they turn around. But for now he has stopped trading and is looking for another job.

Im living off the little savings I have left still in my bank account, Mr. Roberts said. Ive made a mistake, and now Im going to have to unfortunately pay the cost for the next few years.

Follow Nathaniel Popper and Su-Hyun Lee on Twitter: @nathanielpopper and @esuhyuni.

Nathaniel Popper reported from San Francisco, and Su-Hyun Lee reported from Seoul, South Korea.

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10 Best Cloud Server Hosting Providers (2018): Top Cloud …

Few things are better than the confidence you feel when slipping on a perfectly tailored outfit. A knowledgeable seamstress can take wholly adequate dresses, shirts, or pants and make them feel custom-made, just for you.

Cloud servers are the hosting equivalent of discovering a new tailor. The best provide top-notch, reliable service at an affordable rate, delivering a product that excels for your specific needs.

While shared, VPS, and dedicated server hosting packages rely on one physical server at a time, cloud hosting technology enables an unlimited number of servers to act as one unified system. With so much storage space and computing power at your disposal, cloud hosting introduces a greater level of scalability, availability, and performance. The added flexibility of adding or removing memory, storage, or processors, means that many hosting providers bill customers monthly for exactly the resources used.

The scalability, security, and affordability of cloud hosting makes the platform an increasingly popular option.

Weve reviewed the internets best cloud hosting providers and share our results below. Whether you prioritize your budget, operating system, performance, or support, were confident that we can recommend the best fit.

Best Overall (4) | Cheap | Linux | Windows | SSD | Managed | WordPress

The rapidly expanding cloud hosting industry is expected to grow nearly 20% this year to almost $250 billion in worldwide revenue, fueled largely by the proliferation of data in Internet-of-Things devices, artificial intelligence, and Software-as-a-Service business applications. Nearly 40% of small and medium businesses utilize some form of cloud hosting, which provides operational agility in the forms of improved collaboration, the ability to work remotely, better control of documents, and a reduced carbon footprint.

Given the massive demand for cloud storage and computing, hosting providers are clamoring to offer the best services for the best prices. Competition is fierce, which bodes well for those shopping around for the best solution. The top providers, including our four most recommended options below, shine at offering seven key attributes: reliability, availability, scalability, security, quality, strong service-level agreements, and responsive support.

1.

Monthly Starting Price$19.99

4.9

2.

Monthly Starting Price$19.98

4.9

3.

Monthly Starting Price$6.95

4.8

4.

Monthly Starting Price$29.50

4.8

See all the top cloud server hosts

Cloud hosting sometimes gets confused with a virtual private server, or VPS. Both configurations rely on the virtualization of physical server resources. Although a cloud server can be called a VPS, a VPS is not a cloud server. One of the key differences, aside from the infrastructure configurations, is the payment model the automation and vast network associated with cloud hosting enables providers to offer cheaper, pay-as-you-go solutions that can be scaled up or down at a moments notice.

Some of the best VPS hosts, like the one below, power their plans with cloud networks to take advantage of server clusters boasting high levels of redundancy and availability. The optimized architecture streamlines operations for the hosting provider, who in turn can choose to pass the savings onto customers. Take a look at our recommendation for affordable cloud-powered VPS:

5.

Monthly Starting Price$19.99

4.9

See more cheap cloud server hosts

Because cloud hosting relies on a multitude of virtualized servers, the service allows for more flexibility when selecting the operating system or other software to install and configure. Pervasive Unix-based operating systems, including the CentOS, Debian, and Fedora Linux distributions, are twice as popular as servers configured with Windows. With so many options to choose from, heres our top pick for hosting Linux in the cloud:

6.

Monthly Starting Price$19.99

4.9

See more Linux VPS hosts

Microsofts popularity in the desktop operating system space hasnt quite equated to server installations, but the subset of users are no less passionate. The Windows operating system enables site owners the flexibility of hosting ASP.NET or PHP websites, in addition to deploying either MySQL or Microsoft SQL databases.

Because Windows licenses are more expensive than frequently open-source Linux distributions, Windows cloud hosting can be more expensive. Nevertheless, hosts like the one below offer premium services tailored to the strengths of the operating system:

7.

Monthly Starting Price$29.50

4.9

See more Windows VPS hosts

It only takes three letters to pique our interest in a particular hosting plan. SSD, which stands for solid-state drive, gives servers a performance and reliability boost that cant be ignored. Yes, the upgraded option typically comes with a slightly higher price tag, but up to 20-times faster page loads make SSDs seem more than worthwhile. By including SSDs in their cloud network, hosting providers are showing a dedication to customer success and service that matters. Take a look at our top pick for SSD cloud hosting:

8.

Monthly Starting Price$19.99

4.9

See more SSD VPS hosts

Setting up your systems on a new cloud hosting plan isnt for faint-hearted beginners. Many choose to avoid the virtualization complexities by opting for managed hosting services, which often include assistance for software installations and updates, security tools, and performance optimizations. Hosting specialists perform both the complicated and the mundane tasks required to maintain healthy infrastructure and application stacks.

A premium host across the board, Liquid Web particularly excels with premium managed services and support. The companys platform features built-in redundancy that is primed to automatically scale to handle spikes in traffic. Add in Liquid Webs expert management of firewalls, storage capacities, databases, and DNS settings, and we have zero qualms about recommending the companys superior managed hosting plans:

9.

Monthly Starting Price$29.50

4.8

See more managed server hosts

Powering 28% of the internet, WordPress provides the backend interface for more than 60 million bloggers, entrepreneurs, developers, and enterprise businesses. Given the platforms wide applications, cloud hosting is a perfect fit for highly trafficked, in-demand websites and online stores. InMotion Hosting, our favorite option for all things WordPress, understandably outperforms competitors in terms of optimized infrastructure, superior management, and ultimate usability:

10.

Monthly Starting Price$19.99

4.9

See more VPS hosts for WordPress

Now that youve seen our reviews of the top cloud hosting configurations and services, its time to find that one tailor who understands and appreciates how your clothes need to fit.

Massive networks of virtualized servers will ensure your website has plenty of resources.

Look for companies that offer a range of scalable services and the support teams that will tell you how great you look. To sew things up (hey oh), our favorite cloud hosting providers help your sites look and function at their best.

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Best Encryption Software 2018 – Encrypt Files on Windows PCs

How much does encryption software cost?

Most encryption software costs about $40 and can be used on multiple devices. If it only comes with one user license, look to see if it includes self-extracting files. This allows you to send encrypted files to another user or to yourself through email and open it on another device that doesnt have the same program installed on it. Usually this is done by providing the receiver with a password that unlocks and decrypts the file.

Key Features of Encryption Software

Version CompatibilityIf your computer runs an older version of Windows, such as Vista or XP, make sure the encryption program supports your operating system. On the flip side, you need to make sure you choose software that has changed with the times and supports the latest versions of Windows, including 8 and 10.

While all the programs we tested are compatible with every version of Windows, we feel thatSensiGuardis a good choice for older computers because it only has the most essential tools and wont bog down your old PC. Plus, it is easy to move to a new computer if you choose to upgrade. However, it takes a while to encrypt and decrypt files.

If you have a Mac computer, you need a program that is designed specifically for that operating system none of the programs we tested are compatible with both Windows and Mac machines. We believe Concealer is the best option for Macs, but Espionage 3 is also a good choice.

Mac encryption software doesnt have as many extra security features as Windows programs. They typically lack virtual keyboards, self-extracting file creators and password recovery tools. Mac programs also take a lot more time to secure files compared to Windows software.

SecurityEncryption software uses different types of ciphers to scramble your data, and each has its own benefits. Advanced Encryption Standard, or 256-bit key AES, is used by the U.S. government, including the National Security Agency (NSA), and is one of the strongest ciphers available. It scrambles each bit of information. Blowfish and its newer version, Twofish, are encryption algorithms that use block ciphers they scramble blocks of text or several bits of information at once rather than one bit at a time.

The main differences between these algorithms are performance and speed, and the average user wont notice the difference. Blowfish and Twofish cant encrypt large files, so if you need to secure gigabytes of data, use AES encryption. Blowfish and Twofish algorithms are considered practically unbreakable, though given enough time and computing power, both could theoretically be broken.

AES has long been recognized as the superior algorithm and is required for financial institutions, schools, government agencies and healthcare facilities that deal with sensitive personal information. Because of this we preferred programs that use it and ensured these were included in our final choice of the best encryption software.

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Best (and Worst) Internet Security Software of 2018 for Windows

What to Look for in Internet Security

Security and Privacy ToolsInternet security programs should include a personal firewall, instant messaging protection and a secure browser. Designated social media monitoring is also a good tool to have. These tools give you added protection against hackers and identity thieves that use social media sites to post malicious links and phishing schemes.

Parental controls are also good to have. These limit the time your child is online and block them from seeing inappropriate content. They are also good for blocking cyberbullies and predators from reaching your children.

The best internet security software comes with multiple licenses, or a single license that can be used to protect multiple computers, or even mobile devices, at once. Sometimes the only difference between a top-rated security program and the best premium security suite is the number of licenses you get.

We spoke with Mitch Stephens, a security consultant with Emagined Security. He suggests that keeping your system and program patches up to date is a good way to stay secure from online threats. One way to do this is to choose a security program that includes a vulnerability scan. Programs, such as ESET and Avast, use vulnerability detection scans to make sure the most recent software versions are installed on your computer, and if not, they provide you with a legitimate link to where you can download the latest updates. Without these patches, hackers and ransomware can take advantage of these weak points and use them to attack your computer.

How mush does internet security software cost?Internet security software costs about $80 for a year subscription and should include a minimum of three user licenses.Internet security programs are a step up from basic antivirus that cost less but typically dont include advanced safety tools, like a firewall, safe banking features or password managers.Premium-grade software typically goes one step further to include all the security related tools a developer has to offer. For example, Trend Micro Internet Securitydoesnt include a password manager, but Trend Micro Maximum Security, does.Becausepremium securitysolutions have more tools than internet security software and include additional user licenses, it typically costs $20 more than internet security programs.

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Cloud Storage | Team Knowhow

If your phone, tablet or laptop is lost, stolen or damaged, its not just the hardware you stand to lose its your most important files, photos and memories. But with Cloud Storage, youre protected.

Our range of storage options offers protection for up to 4TB of files working out at 2m documents, 800,000 photos or 1,600 HD videos. But whichever option you choose, your most important files will be safely backed up and stored in our data centres, protected from loss, theft or damage to your kit.

Using Cloud Storage couldnt be simpler: just download the app for your iOS, Android, Windows, Mac or Amazon Fire device, and your files will be automatically backed up. No stress, no hassle, just straightforward protection for the things that matter most.

Once youre backed up, its easy to stay connected with your friends and family by sharing your photos and videos in a matter of seconds and your data is encrypted to keep your files safe from prying eyes.

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