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A successful hardfork went through the Monero network, and Samsung Pay may receive cryptocurrency wallets. SEC member Hester Pierce again protects cryptocurrencies.
At block 1788000, the cryptocurrency team Monero conducted a successful hardfork. It passed without any complications, and allowed to make four critical changes to the system. One of the most important is to protect against the mass influence of professional miners. However, the result was a significant decrease in the network hashrate.
With a decrease in decentralization, the risk of “Attack 51” increases, which may become critical for Monero. In addition, the blockchain introduced an innovation to increase the anonymity of transactions and the technology of a new recalculation of obligations under the amounts. However, not all experts are confident that the result will be affected for a long time. Last time, the miners took a week to find a workaround.
What problems were with Monero Coin
The popular payment application Samsung Pay can provide the ability to make purchases worldwide using cryptocurrency. The details of the new system are currently unknown. However, if it is implemented, Samsung’s phones will enable digital financial assets to be popularized.
Already, the number of Samsung Pay customers has exceeded 10 million people. And over the past year, their number increased by 58%, and continues to grow. Back in 2015, the corporation bought LoopPay, which allowed its customers to make payments through terminals in shopping centers. Then the purchase price was $ 250 million. Now the integration of cryptocurrency assets with Samsung devices will provide the maximum effect from this acquisition.
One of the members of the US Securities Commission once again expressed support for cryptocurrency. Hester Pierce said that only wealthy people should get access to this financial instrument. She voiced this opinion during a debate with CFTC head Gary Gensler.
Pierce called for more opportunities for cryptocurrency for self-regulation. She believes that the blockchain technology allows public control over the turnover of this asset. At the same time, she agrees that the authorities should develop a clear legislative framework. It will be the basis for the free circulation of tokens among ordinary citizens.