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Cryptocurrency Platform Ethereum Raided by Hacker, $50 Million Stolen

A hacker removed $50 million in Ether through the Decentralized Autonomous Organization, plunging investors as a panic, many argue that no theft has occurred.

Ether, the currency that is digital has been billed as the ‘next’ bitcoin, plunged in value on Friday whenever a hacker exploited a software flaw in the Decentralized Autonomous Organization (DAO), giving the equivalent of $50 million Ether into the ether and the cryptocurrency investment community into a panic.

If this appears bewildering, we are going to try to explain.

Ether could be the currency supported by the Ethereum blockchain, a platform designed to supply greater flexibility for decentralized peer-to-peer-traded currencies than tasks developed on top of the bitcoin protocol. Ethereum permits the creation of ‘smart agreements,’ which enables all kinds of business deals and perhaps not just currency transfers.

The DAO is an organization that is completely leaderless on the Ethereum platform and run entirely on computer rule. It uses these smart agreements to develop a venture money fund devoted to sponsoring cryptocurrency that is new. All DAO decisions are taken with a vote of its members who use electronic tokens, purchased with Ether, to register their vote. In this manner, DAO had raised $162 million to assist fund fledgling jobs.

Remain Calm

But DAO members watched in horror, in real-time, on Friday, as a hacker exposed a computer so Read more

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Crown Resorts $1.1 Billion Sydney Casino Venture Cleared for Take-Off

An music artists’ rendering of Crown’s towering Crown Sydney resort Resort, which ended up being green-lit this week

James Packer’s Crown Resorts has received approval to transform the skyline of Sydney, Australia, because of the creation of a skyscraping $1.1 billion casino resort.

The 72-story Crown Sydney Hotel Resort project has cleared the hurdle that is final signed off on Monday by the brand New South Wales Planning Assessment Commission, and today awaits the formality of the green light through the state government for construction to start out. Crown had been also awarded a 99-year gambling license.

The casino resort complex, that may be Sydney’s 2nd, after Star Casino, will tower above Barangaroo on the northwestern side of Sydney’s central business district and will aim to attract high-rolling gamblers from Asia.

Crown Resorts recently announced it would sell $800 million of its shares in Macau-based Melco-Crown, reducing its stake from 34 percent to 27 %, reigning in its expansion in Asia in order to focus on projects closer to house.

Like the Sydney casino, Crown has expensive new developments earmarked for Melbourne and Perth and, as Macau’s fortunes tumble, they evidently decided it’s safer to lure Asian high-rollers to Australia.

Changes Ordered

The Crown Sydney will boast a hotel that is 300-room apartments, restaurants, bars, stores, conference facilities and VIP video gaming rooms. Crown Read more

Pokémon Go Investors Betting on Nintendo, Gamblers Betting on Lines

Pokémon Go has taken the global world by storm, and casinos are prepared to profit from the Nintendo software’s runaway success. On the basis of the popular franchise that debuted in 1996, Pokémon Go features augmented reality (AR) gameplay that challenges users to re capture Pokémon and train them for battle.

The Pokémon Go Nintendo app has inundated Las Vegas, as well as the World Series of Poker at the Rio and at least one other casino are already catering to the popular trend that is new. (Image: Pokemon Go Las Vegas/twitter.com)

Pokémon appear through the global world, and players chase the characters through GPS-enabled location technology. First released on July 6, Pokémon Go has been downloaded more than 15 million times in its first week alone.

The gaming that is new has quickly attracted the interest of America’s gaming epicenter: Las Vegas. An official Pokémon stop where supplies can be purchased at least one casino is rushing to make its resort.

And overseas, sports publications are looking to money in while the trend is red-hot.

Irish bookmaker PaddyPower ran a line asking if the game would fall from being the most app that is downloaded. Meanwhile, down under in Australia, Sportsbet has a variety of bets. including which politician will first play the overall game, and whether Pokémon Go will overtake Twitter for most users that are Read more