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Nano Launches a New Wallet: User Safety Compromised - Global Coin Report
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Nano Launches a New Wallet: User Safety Compromised

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Nano
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Ever since the developers of Nano announced that the new wallet is soon to be released to the public, the community has been eagerly waiting for the new digital wallets to arrive.

The wallets were announced for release at the latest by June 24th, however, the team has been working hard on the new developments regarding the latest Android wallet, while also waiting for Apple to approve their application and allow iOS users to use the newly released wallet.

The team has gone forward with releasing the wallet a couple of days earlier around June 20th, however, problems with the new wallet appeared shortly after the wallet was released into the public.

Security Issues Strike: New Nano Wallet Not Safe

The team announced on June 18th with the release update on Medium that they will be releasing g their new Nano Android wallet during the following week, which happened only two days after the original update on Medium.

The team stated on this occasion that the wallet is to be open-source once released, also stating that they are waiting for Apple to review their app, adding that this is a common protocol of all crypto related applications, adding that they are hoping to have the wallet ready for iOS users as well.

Further, in their weekly update, the team has also stated that they have received numerous designs for the wallet interface as submitted by some community members, adding that once the wallet is released, the team Nano will work with the community to bring the smoothest and the sleekest, user-friendly interface.

However, the team now seems to have bigger problems than choosing a wallet design, since not long after the wallet was released and gone live, the team has reported serious security issues regarding their new digital wallet.

Upon the release of the new wallet into the public, Nano tweeted from their official Twitter account addressing their holders by stating that “anyone who generated a seed using the Android wallets immediately move your funds to another wallet, derived from another seed”.

The tweet began with capitalized “attention” at the beginning and at the end of the post, so Nano holders probably took it more than seriously as it was the case.

Although, the new NANO wallet should have bought some momentum to Nano coin, lifting up the spirits within the community and acquiring g the possibility to make safe and fast, while cheap peer-to-peer NANO payments with this wallet, it seems that the security issue found in the Android version of the wallet has burst that bubble.

Nano has already gone through a phase with security issues not that long ago when there was a hack attack targeting NANO coins on the exchange BitGrail, and now we have another case where this asset is showing signs of compromised security of its users and holders, which probably sank NANO for additional round of drops alongside with the newly established market trend of having the majority of assets trading in the red for the past couple of days.

Although the security of the newly arrived Android wallets was compromised, the community can still give kudos to Nano community as they have reacted in a proper manner while immediately announcing the flaw in the seed that has been discovered shortly after the live release of the wallet.

To confirm the assertiveness of the team NANO, the team has released an update regarding the security issues with the wallet seed, deeming the problem solved.

Nano Team Announces Fixed Wallet Security Bug

Around June 22nd, the team behind Nano has released an official update stating that the problem they have had with the security seed is now marked as fixed and solved.

The new Android version of the wallet is dubbed 1.0.2, and to reflect on the previously discovered problem with the seed, the tea has stated that the new wallet now uses Secure Random protocol in order to securely generate the wallet seed.

The team has shared a link to the pull request and the related code for Nano users, which means that there shouldn’t be any security-related issues with the wallet.

Nano (NANO) Performance

Not being able to bounce off outside the current market trend, Nano is seen dropping by -4.64% against the dollar, which means that NANO can now be traded at the price of 2.56$ per one unit.

Ranked as the 36th best currency, NANO had its record price of around 34$ set at the beginning of January, however, the crypto only went down in its price from that point on.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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