These are the top Bitcoin, Ethereum, and cryptocurrency news stories for July 12, 2017.

According to Bitcoin Magazine, Bitcoin Core contributor Luke Dashjr has created a polling mechanism that is resistant to Sybil attacks. The poll, which is focused on various Bitcoin scaling proposals, requires Coinbase identity verification for participation.

Over at Deep Dot Web, an interview with a hacker who focuses on phishing account credentials from Alphabay users has been published. The hacker claims to have made over $1 million in the past year from phishing Alphabay accounts.

Over at Bitcoin Magazine, Kyle Torpey has written an opinion piece about the ability of drivechains, which are a type of sidechain, to kill off the altcoin market. Sidechains allow users to effective transfer their bitcoin to a completely separate blockchain with different features.

According to Bitcoin Magazine, the privacy-focused Bitcoin project TumbleBit has inched closer to release with the integration of Tor. One developer working on TumbleBit has estimated that TumbleBit may be ready for use by the general public within a month or two.

According to Bitcoin Magazine, the notorious GainBitcoin Ponzi scheme operating in India appears to have new legs. The people behind the fraudulent scheme have launched an Ethereum ICO, and the tokens created in that ICO are now used for payouts to investors in the scheme.

Featured image via Florian Plag.

Verified on Po.et

July 12th 2017, 18:05

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Kyle Torpey

Kyle Torpey

Kyle first used Bitcoin in 2011. By early 2014, researching and writing about Bitcoin had become his full-time occupation. Currently, he contributes regularly to Forbes and CoinJournal. His work has also appeared in Business Insider, VICE Motherboard, Nasdaq, and many other media outlets. Additionally, he provides a daily Bitcoin news recap via a newsletter and YouTube show (audio only version available via SoundCloud), which can be found at kyletorpey.com.

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