Bitcoinist News round up -

Bitcoinist News round up


Fidor Bank

This is not the first time Fidor has delved into the world of cryptocurrency. In fact, last October they partnered with a cryptocurrency exchange Kraken. Fidor becomes first bank to use Ripple, a payment protocol. Fidor, a Munich-based bank. Fidor states that they are implementing Ripple as a way that will benefit the consumers, with faster and more affordable means of transferring money, not just inside Fidors banks, but also across other banks and other financial companies. This benefits both supplier and consumer, as Fidor will have to spend less on fees, transaction costs, etc. Consumer will benefit from cheaper costs and faster transaction times. It’s no wonder that International Financial Magazine awarded them “Most Innovative Bank 2013”.


Whitecoin recently got hit by a double spend attack and a time-warp attack. According to official statement from Whitecoins developer Mogonzo. First what occurred was a DDOS (dedicated denial of service) attack on the mining pool “Chunkypools”, as it maintained majority of hash rate. Once they assume control of the network throught this mining pool, they were able to gain access of the blockchain. A time warp attack then initiated, which in essence lowers difficulty dramatically allowing the attackers to quickly mine Whitecoins, and then sell to several exchange sites to make quick buck. The affected exchange sites included Cryptsy, MintPal, and Bittrex.

Dark Wallet

A new software for Bitcoin, called Dark Wallet may be the governments worse nightmare, as any attempts to prevent money laundering would be rendered useless. Produced by unSystem, it gives Bitcoin users even more privacy and anonymity than Bitcoin offers by encrypting and mixing user transactions to thwart anyone trying to track specific transactions. With community support, as displayed by the amount of money, fiat and Bitcoin wise, given to the indiegogo campaign started to support funding of Dark Wallet. This is centralized solution however, unlike Darkcoins Darksend which may turn off some people looking for the most privacy and anonymity possible. Time will tell which will prevail.

written by: Written By: Nigel Dollentas A.K.A. Precrime3 is the ultimate news and review site for the crypto currency community!