Although Alberto is the first hurricane or tropical cyclone of the year, it has been raining cryptocurrency constantly. Is cryptocurrency making it rain for thousands of eager beavers? The latest cryptocurrency trading application (App) attack had not warded off faithful followers. On Tuesday, May 22, 2018, hackers stole $1.35 million dollars worth of Ether (ETH) and Taylor (TAY) tokens from the developers of Taylor’s Cryptocurrency Trading Application. Like a fish out of water, ETH and TAY tokens are unfamiliar terms to many curious spectators who are cautious of the new digital currency. What is cryptocurrency? According to Investopedia’s definition of Ether, Ether is related to fuel than currency. A car needs fuel to run. To trade digital currency on the Internet, a crypto trader shall need a communication conduit (Ethereum networks as dApps) and tokens (i.e., Ether as fuel) that serve as cryptocurrency. There are different networks that trade Ether as there are different banks. Like banks that charge fees for services, Ethereum networks charge for faster CPUs with extraordinary computational abilities. Ether is limited to 18 million per year. This amount was predetermined by the Ethereum Foundation and others. How to apply Hasbro’s Monopoly Board Game to Ether, Ethereum and cybersecurity? Unlike bankruptcy in monopoly, a successful cyberattack the goal of a cryptocurrency board game. The players of the cryptocurrency board game are eager beavers, cautious hawks and hackers. Ether is significant to hackers than eager beavers, hawks and developers. Ether is not traceable. Regrettably, Ether is not regulated. Cryptocurrency networks are accounting mechanisms according to Davies. If you remember any version of monopoly, tokens were representatives of players to traverse around the board. In the cryptocurrency board game, tokens are tokens (digital currencies) that can not be recovered, negotiated or guaranteed. Finally, there could be only one winner with all the tokens. Honestly, in many cases, hackers are winning. If you are reading what’s trending, Block.one is gaining steam to raise 4.1B for its new blockchain software. Unfortunately, Block.one lost millions of investor’s EOS and ETH tokens due to phishing emails. On June 19 2018, Bithumb- one the largest crypto exchanges in South Korea- lost $30M dollars of cryptocurrencies.
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