Ethereum Watch

Cryptocurrency gains popularity in Iceland, Finance Minister Considers Impact on Economy

Bjarni Benediktsson, Finance Minister of Iceland, considers potential devastation of the country’s economy, as cryptocurrencies like bitcoin and Ethereum gain popularity. As reported by Wired, due to Iceland’s hydro and geothermal power and favorable temperatures for hosted equipment, Cryptocurrency miners consider the location a data centre heaven therefore bolstering the rise of cryptocurrencies like Bitcoin and Ethereum.

Cryptocurrency expands beyond traditional finance

Top schools and computer science graduates are continually working to improve and increase the codebase of cryptocurrency further distancing it from the traditional finance model. As stated on Bloomberg.com, economists differ in their viewpoints on the future of cryptocurrency technology. However, some see the solution as a an opportunity for thoughtful investors to find attractive investments outside of the traditional financial structure.

Ransomware Connected to Cryptocurrency Miners

As reported by Investopedia, ransomware, which has been targeting mature cryptocurrencies for hacking since 2010, is transitioning to mining activity. Mining software is advancing technologically — it’s lightweight, easily deployable, and potentially very profitable amongst varying cryptocurrencies. Utilizing these advances, recent ransomware attacks have been designed to install well-hidden cryptocurrency mining programs on unprotected PCs.