With the Ethereum Merge event now successfully completed, new Proof of Work (PoW) forks have emerged to compete for miner acceptance. This, as the United States government, has warned that the post-quantum world is getting closer and vulnerable crypto will need to be protected. Amid searing US inflation, President Joe Biden notes gas prices have plummeted, but fails to mention the 190 million barrels that have been drawn from the US Strategic Petroleum Reserve to solve the problem. Although US inflation is high, the greenback is gaining strength against other global currencies, and Chinese state-backed media say this “could be the start of another nightmare” for “many countries. in the world”. All that and more in this week’s Bitcoin.com News Week in Review.
Ethereum Merger Spawned 2 Forks – Newly Launched Ethereumfair Brings USD Value and Hash Power Together
Following the Ethereum merger, a number of members of the cryptocurrency community discussed the proof-of-work (PoW) fork called ETHW, as its value recently dropped significantly. However, many people are unaware that there is another Ethereum-based PoW fork called ethereumfair (ETF), and ETF has gathered a small amount of hashrate and fiat value since the token’s mainnet launch.
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Bitcoin vs. Quantum Computers: US Government Says Post-Quantum World Is Getting Closer, CISA Warns Contemporary Crypto Could Collapse
According to the United States Cybersecurity and Infrastructure Security Agency (CISA), while quantum computers are unable to crack public-key encryption algorithms, public and private entities must prepare for future threats to cryptography that is not not quantum resistant.
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As Biden drains SPR to 1984 levels, Chinese state media says US dollar ‘is the world’s problem again’
US President Joe Biden has recently come under fire for claiming that inflation in America has not increased over the past few months, while the US Dollar Index (DXY) climbed to the region of 110.776. Meanwhile, a recent report by the CCP-backed Global Times urges de-dollarization as the rising US dollar “could be the start of another nightmare” for “many countries around the world. “.
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DOJ launches network of over 150 federal prosecutors to combat criminal uses of crypto
The US Department of Justice (DOJ) has established the National Digital Asset Coordinators Network made up of over 150 federal prosecutors. The authority explained that the new network will continue its “efforts to combat the growing threat posed by the illicit use of digital assets to the American public.”
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What do you think of this week’s stories? Is the US dollar a threat to the global economy? Let us know in the comments section below.
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