Now that the Ethereum Merge Event has successfully concluded, new Proof-of-Work (PoW) forks have emerged vying for miner acceptance. This as the United States government warned that the post-quantum world is approaching and vulnerable cryptography needs to be protected. Amid blistering US inflation, President Joe Biden notes that gas prices have fallen but fails to mention the 190 million barrels that have been siphoned from the US Strategic Petroleum Reserve to address the problem. Though US inflation is high, the greenback is gaining ground against other world currencies, and state-backed Chinese media say 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 in Review.
Ethereum merger spawned 2 forks – newly launched Ethereumfair collects USD value and hash power
After the Ethereum merger, a number of members of the cryptocurrency community have been discussing the Proof-of-Work (PoW) fork dubbed ETHW as it has recently lost significant value. However, many people are unaware that there is another Ethereum-based PoW fork called Ethereumfair (ETF), and ETF has accumulated a small amount of hashrate and fiat value since the token’s launch.
Bitcoin vs. Quantum Computer: US Govt Says Post-Quantum World Is Approaching, CISA Warns Contemporary Encryption Could Break
According to the US Cybersecurity and Infrastructure Security Agency (CISA), while public and private entities are unable to crack public key encryption algorithms, public and private entities must prepare for future threats from cryptography that is not quantum-resistant.
As Biden cuts the SPR to 1984 levels, Chinese state media claim the US dollar is “the world’s problem again.”
US President Joe Biden was recently criticized for claiming that inflation in America has not risen in recent months while the US Dollar Index (DXY) climbed into the 110.776 region. Meanwhile, a recent report by the CCP-backed Global Times urged de-dollarization as the US dollar’s appreciation could be “the beginning of another nightmare” for “many countries around the world.”
DOJ Launches Network of 150+ Federal Prosecutors to Combat Criminal Use of Crypto
The US Department of Justice (DOJ) established the nationwide Digital Asset Coordinator Network with over 150 federal prosecutors. The agency said the new network will increase its “efforts to combat the growing threat posed to the American public by the illegal use of digital assets.”
What do you think of this week’s stories? Is the US dollar a threat to the global economy? Let us know in the comment section below.
photo credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.