With the Ethereum merger event now successfully completed, new proof-of-work (PoW) forks have emerged to compete for mining acceptance. This as the United States government has warned that the post-quantum world is approaching, and vulnerable cryptography needs protection. Amid red-hot inflation in the United States, President Joe Biden pointed to falling gas prices, but made no mention of the 190 million barrels withdrawn from the US Strategic Petroleum Reserve to address the issue. Despite high US inflation, the greenback is gaining strength against other world currencies, and Chinese state-backed media said this “could be the start of another nightmare for many countries around the world”. All this and more in this week’s Bitcoin.com News Week Review.
Ethereum Merger Spawns 2 Forks – Newly Launched Ethereumfair Collects USD Value and Hashpower
Following the Ethereum merger, many members of the cryptocurrency community have been discussing a proof-of-work (PoW) fork called ETHW as its price has recently dropped significantly. However, many people don’t know that there is another Pow fork based on Ethereum called EthereumFire (ETF) and the ETF has gathered quite a bit of hashrate and fiat value since the token was launched.
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Bitcoin vs. Quantum Computers: US Government Post-Quantum World Approaching, CISA Warns Modern Cryptography May Be Breakable
According to the US Cybersecurity and Infrastructure Security Agency (CISA), quantum computers cannot break public key encryption algorithms, and public and private entities must prepare for future threats to quantum-resistant cryptographic images.
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As Biden lowered the SPR to 1984 levels, Chinese state media said the US dollar was ‘the world’s problem again’.
US President Joe Biden recently criticized US inflation for not picking up in the past few months, while the US Dollar Index (DXY) entered the 110.776 range. Meanwhile, a recent report by the CCP-backed Global Times said that the rise of the US dollar “could be the beginning of another nightmare” for “many countries around the world” pushing for a de-dollarization.
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The DOJ launched a network of over 150 federal prosecutors to fight the criminal use of Crypto.
The US Department of Justice (DOJ) has established a Digital Asset Coordination Network of more than 150 federal prosecutors nationwide. The official explained that the new network “will further our efforts to combat the threat that the illegal use of digital assets poses to the American people.”
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What do you think of this week’s stories? Does the US dollar pose a threat to the world economy? Let us know in the comments section below.
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