OKEx exchange announced the launch of a new derivative

Exchange digital assets OKEx Monday announced that is launching a new derivative product – a perpetual swap which further brings it closer to providing a complete set of financial crypto-products.

According to a press release OKEx, perpetual swap is a virtual derivative intended for transactions between private individuals. The product was created to allow investors to speculate on the course of cryptocurrencies like bitcoin.

A perpetual swap works like a future, but it has no expiry date and the calculations on it happening every day, allowing traders to withdraw their profit on daily basis. In addition, the leverage ratio for the indefinite swaps OKEx is 1:100.

Each swap contract OKEx has a nominal value equivalent of $ 100 in BTC. Users can choose two strategies: to invest in a long position and capitalize on growth rate, digital currency, or to invest in short positions and to capitalize on the fall of its rate.

Thus, now users OKEx will have access to perpetual swaps, futures and spot trading with leverage. The new product, according to a press release, will be officially available on 11 December 2018.

«This is an important milestone for OKEx. The launch of the perpetual swap demonstrates our constant desire to create inclusive financial ecosystem for the blockchain and cryptocurrency. Thanks to this new financial instrument investors and traders will be able to choose the products that best fit their trading and hedging strategies. However, we would like to remind you that this product has a large leverage, so when it is used a very important strategy for risk management,» commented the news Director OKEx on the financial markets in Lennox Barking.



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The Vertcoin network was attacked by 51%

Safety engineer exchange Coinbase mark Nesbitt (Mark Nesbitt) said in a blog that the network Vertcoin was subjected to repeated attacks of 51%.

Four series of incidents (from 12 October) there have been 22 deep reorganization of the network, 15 of which have included double the expenditure of the VTC. The most ambitious reorganization had grubina 307 blocks and a length of 310. According to Nesbitt, this demonstrates the ineffectiveness of increasing the number of confirmations as a method of countering such attacks on the network.

According to experts, the damage from the attacks could reach up to $100 thousand. We conducted an investigation, and the data will be updated.

The mining algorithm, Vertcoin is intentionally oriented to make ASIC miners and similar devices maximally inefficient for the network. It is assumed that production units will be conducted solely on publicly available graphics cards (GPU mining).

According to supporters of such approach, it should prevent centralization of mining. However, Nesbitt believes that this greatly weakens the security of the network for attack 51% is also enough graphics cards, and no need for specialized devices.

Recall that in the current year were attacked 51% of the bitcoin and Monacoin (MONA), Verge (XVG), Bitcoin Gold (BTG) and, presumably, AurumCoin (AU). Moreover, the Verge was attacked three times. It is noteworthy that she, like Vertcoin, was hacked Twitter.

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The crypto MyEtherWallet underwent the fork

Co-founder of crypto MyEtherWallet (MEW) Taylor Monaghan (Monahan Taylor) left the project to pursue the development of crypto MyCrypto created on the same code based on Ethereum. The second MEW the Creator of Kosala Hemchandra (Kosala Hemachandra) confirmed the fork, but does not explain the reasons for the gap in detail.

It is expected that extended versions of mobile and desktop applications and new version of the site MyCrypto will appear in the coming months. However, the profile MEW on Twitter was just renamed MyCrypto as Monaghan considered him their personal.

Now you have the choice to use the MEW or https://mycrypto.com. The team I built will build and develop https://mycrypto.com and its infrastructure. We will try to do everything possible to support those who need help, no matter what product they use…

Monaghan explained that from a hobby-project that in 2015 did two people in their spare time, MEW was rapidly becoming a company of 20 people and the main place of work, and in the second half of 2017, she had to hire people to customer service and service not had to deal with, sacrificing his own sleep.

Monaghan is confident that the crypto sphere will change the world and get out of it now, they will regret it all my life. Therefore, in 2018, she set herself goals: to abandon the idea to combine the project with another job and create the Foundation for a new company and team for their development in the long term. She will continue to develop “best product for inspiring people to interact with Baccano” and hopes to find a balance between security, control, ease of use, privacy, decentralization, and truthfulness.

Recall that in December the fake version of crypto MyEtherWallet in just a week moved up to third place in the category “Finance” in the AppStore, with absolutely no relation to the storage and exchange of cryptocurrencies. Some time later, it was removed from the site. In January of this year, developers MEW had to refute spread in social networks rumors about his hacking spoofing DNS.

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