Just recently the web portal Karate.com owned and operated by a company called Karate Combat recently launched a professional combat league. The new league is meant to promote fighters from all around the world and showcase their fighting skills. One unique thing about the event, ‘Karate Combat: Inception’ is the fact there is a giant bitcoin symbol in the middle of the ring.
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The New Martial Arts League Karate Combat Features a bitcoin Symbol in the Center Ring
Martial arts (MA) and karate have become very popular sports these days, and mainstream audiences have been patronizing this activity for quite some time. One bitcoin-centric group called , a nonprofit that dedicates raised funds towards increasing bitcoin awareness, decided to spread the message to MA fans. Bitproj has sponsored the league Karate Combat, and for doing so the arena features a bitcoin symbol in the middle of the fighting ring.
Karate Combat’s launch has recently been in Sports Illustrated online publication which also shows a good crisp image of the bitcoin symbol inside the ring. Karate Combat CEO Michael DePietro explains that Karate is very popular in the U.S. and starting the first league is a milestone.
“Approximately 50 million Americans have participated in Karate at some point in their lives with an even greater worldwide following, yet no professional league exists,” DePietro explains.
To date nobody has harnessed the beauty of this ancient sport for 21st-century fans and mass media appeal.
bitcoin Featured in the Pre-Season Genesis Events
It seems Bitproj believes in the mass media appeal of the new Karate venture as well by providing sponsorship towards the fighting league. An innovative technological symbol may entice audiences to ask about bitcoin or talk about the subject during matches. Karate Combat’s league boasts 100 fighters from 30 different nation states, and the team will also appear in the Tokyo 2020 Olympic Games.
bitcoin proponents will be pleased to see the bright white symbol in the middle of the ring in these of the pre-season event titled ‘.’ Moreover, the bitcoin symbol can be seen over at the web portal Karate.com as well.
Images via Karate.com, Karate Combat, Bitproj.org, and Shutterstock.
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Verge, a ”privacy coin” famed for the zealotry of its community, has fallen prey to a 51% attack. A malevolent miner gained majority control of the network hashrate, a feat that makes it possible for the controlling entity to modify transactions, calling the integrity of the entire blockchain into question. Around 250,000 verge were stolen by the attacker, forcing the project team to prepare a hard fork.
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Accident-Prone Altcoin Has Another Bad Day
On Wednesday April 4, “ocminer”, a regular poster on the Bitcointalk forum, that verge (XVG) was experiencing a 51% attack. A bug in the altcoin’s code enabled the attacker to spoof timestamps and cause each new block to be produced using the same algorithm. Usually, a different algorithm must be used for each block to prevent any single miner or pool of miners from controlling the XVG hashrate. The verge community aren’t known for their tolerance of negative stories, and soon they’d piled into the Bitcointalk thread to dismiss the “fake news and FUD”. One fanboy mused:
The timing of this attack seems highly suspicious. Is it possible this was not an individual but an anti-crypto governmental organization that fears the huge deal that Verge is making? Way too much of a coincidence here. I’ve said for months that all it takes is one huge (legit) deal with an Amazon/Paypal class company and the market will quadruple overnight.
Using a number of exploits in the XVG code, the attacker was able to mine multiple blocks one second apart, all performed using the scrypt algorithm, a feat which ought to have been impossible. The attack relented after three hours, but by that time the attacker had confirmed hundreds of blocks, making a rollback of the blockchain necessary to undo the damage. Lead verge developer Justin posted an to temporarily fix the problem and was successful – but only at the second attempt. A hard fork will now be initiated to remedy the matter once and for all.
Verge’s problems may only just be beginning though. The attacker taunted the team in a forum post, “Hey Verge Team, get some real developers and fix your code.
We have found another 2 exploits which can make quick hashes as well.” To compound the misery, at least one verge holder was then fooled by a Twitter scam, explaining:
I visited some hours ago the official Verge Twitter profile to read the news about the hash hack. While reading the tweet i noticed several messages offering a compensation for the attack by Verge. Send x Eth and you get some bonus back. Sounded legit to me as it was affilated to the hash attack and i suffered from it as well having had some hours only orphaned blocks on all my baikals, hence i fall victim to this damn scam on the official twitter page.
The 51% attack used the scrypt algorithm for each block, which ought to have been impossible
51% Attacks Are Ultra Rare
While often theorized, 51% attacks are extremely rare. To control the majority of bitcoin’s hashrate, for example, an attacker would require over 14 exahashes of power, which would be all but impossible. Altcoins have a much lower hashrate, but even so, it is unusual to witness such an attack in the wild. Interestingly, another Proof of Work (PoW) coin, electroneum, is to have succumbed to a 51% attack just three days ago. Reports are surfacing that the electroneum 51% attack has since resumed, with the same entity behind the verge attack believed to be responsible.
Rowan Stone, founder of cryptocurrency mining firm explains: “PoW coins [such as verge] are secured via decentralized consensus. This attack is a great example of what is possible when a single entity has enough hashpower to create their own consensus. The fact that the XVG code base had a fairly significant bug just made it easier for the attacker to pull this off.”
Problem? What Problem?
In typical fashion, the verge team tried to play down the severity of the attack, tweeting:
On the Bitcointalk forum, the damage control exercise was cranked higher still, with a verge team member disingenuously writing “we’re kinda glad this happened and that it wasn’t as bad as it could have been.” Verge also tried to shut down discussion of the “minor” incident in its Telegram channel. The reality was nothing of the sort: all verge wallets are out of sync as the blockchain snapshot is stuck at block at 2007364 and a hard fork is imminent. Verge claim that around 250,000 XVG were stolen by the rogue miner, but dissenters have that as many as 3.9 million coins may have been taken.
One forum member : “Based on what I see from the dev postings here it’s apparent that if ocminer had never brought this to everyone’s attention, the XVG team would have never admitted to or disclosed what happened. Trying to downplay and being flippant about the severity here is just pissing on the XVG faithful.” A verge developer tried to shrug off the magnitude of the attack, protesting “how much eth has been stolen this year? this is insignificant in contrast”.
XVG is down 16% in the last 24 hours, Wednesday’s attack only tempered by anticipation of a “big announcement” on April 16 that has caused verge to double in price in the past week. In 2018 alone, verge has shrugged off privacy leaks, its Twitter being hacked, developer doxed, the embarrassment of having to for $3 million, and now a 51% attack. The rest of the cryptocurrency world may be laughing, but XVG’s true believers remain unfazed.
Do you think the Verge team is guilty of minimizing the seriousness of this attack? Let us know in the comments section below.
Images courtesy of Shutterstock, Bitcointalk, Coincodex, and Twitter.
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The mobile games market is phenomenal. One of the most technologically adaptive and high spending sectors, it is comprised of over two billion players.
By 2020, it will reach the threshold of $60 billion annual revenues. Yet, lack of recent innovation limits the earnings of its participants and threatens to decrease its astounding growth rates. Several critical inefficiencies hold back the full potential of this industry.
A special few major app markets share absolute control of the global distribution of games. They charge tremendously bold commissions, often reaching 30% of the revenues. In return, they give nothing more than basic functionality and access. No channels of monetization in line with modern technologies.
No exchange of in-app tokens for players to avoid them having tens of untradeable game tokens. No support for cryptocurrencies. Dreadfully low security, troublesome for most business participants of the ecosystem. As a result of high fees and unfulfilled needs, 80% of game studios go bankrupt.
Now – there is BGX. The fintech solution unparalleled in its capabilities.
consists of an immensely powerful suite of financial features and an app distribution network. The unique cross-chain processing algorithm allows BGX to support up to a million transactions per second. BGX brings speed, security, and interoperability. The platform’s inner stablecoin is non-volatile, while the investor’s ERC20 BGX Tokens have unlimited potential for growth. Moreover, 60% of the platform’s revenues are given to the holders of the BGX Tokens.
BGX developed a powerful artificial neural network in the top research institutions in the world. The fuzzy AI network provides unrivaled protection and cheating and fraud, beyond the capabilities of current markets. Meanwhile, it also helps developers target their potential players on an almost individual level.
The BGX Platform is positioned for rapid player adoption. Players earn from their gaming time. They have access to a virtual wallet, which supports in-game, crypto- and fiat currencies and makes them interchangeable. Game studios gain a powerful motivational tool in platform’s universal coin. They have access to many modern, platform-wide monetization channels – hosting tournaments, duels, streams.
Enough is enough. There have been many gaming ICOs. Yet, the industry needs a true fintech solution, providing players, studios, publishers, ad networks, and investors with the opportunity to earn more while paying less to inefficient intermediaries. The mobile game sector is ready for disruption.
The BGX whitelist is open for registration. The pre-sale will start on May 8th and go for just one week. The Crowdsale will start on May 22nd and continue for one month or until all funds are raised. Read the BGX Whitepaper on and if you are an investor, contact the BGX team directly at for details on the upcoming private sale.
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