Firefox Quantum Browser Offers Anti-Cryptojacking Feature

Firefox Quantum Browser Offers Anti-Cryptojacking Feature
May 23, 2019


The cryptocurrency market remains range bound with a slight bearish bias. Bitcoin (BTC) failed for the third time yesterday to cross the 8,000 barrier. The cryptocurrency currently hovers around 7,600 levels, with a 6.4% decline in the past week and a 3.6% loss in the past 24 hours. Ethereum (ETH), however, seems to be doing better as it has lost only 1.8% in the past week to trade at $244 levels. Ironically, most of the losses have come in the past 24 hours. Likewise, all the major altcoins have lost between 2% and 9% in the past 24 hours. This includes Ripple (XRP-$0.3747, -6%), EOS (EOS-$5.93, -6.0%), Stellar (XLM-$0.1224, -9.8%), TRON (TRX-$0.02725, -5.4%), Cardano (ADA-$0.0781, -7.7%), Bitcoin Cash ($391.56, -6.5%), Litecoin (LTC-$87.84, -3.9%) and IOTA (MIOTA-$0.3812, -8.5%).


Government level initiatives

Japan brings new crypto regulations in to effect

A new crypto law has been put in place by the Japanese House of Representatives in the upper house of National Diet. The lower house moved crypto related changes to the prevailing financial law during the latest plenary meeting.  The revisions to two of Japan’s financial rules – the Financial Instruments and Exchange Act and Payment Services Act – aim to improve domestic cryptocurrency trading laws. The changes allegedly widen the regulation by incorporating laws for leveraged (margin) trading in cryptocurrencies.

The current legislation also involves a modification to crypto-related terminology, changing the phrase “virtual currencies” to “crypto assets.” In March, Japanese lawmakers implemented rules related to crypto-currency margin trading. The executive branch of the Japanese government, Cabinet of Japan, authorized draft changes to the financial tools and payment services rules of Japan, restricting the leverage for cryptocurrency margin trading at two to four times the original deposit.


Israeli court rules Bitcoin an asset and not a currency

A judge in Israel has passed a decree giving Bitcoin (BTC) the status of an asset and not a currency. The judgment is perceived to be an important one because it implies profits generated from cryptocurrency selling will now be subjected to capital gains tax. Noam Copel, who established the blockchain startup DAV, had purchased BTC in 2011 and diluted in 2013, thereby generating a profit of $2.90 million based on current market prices.

The defendant argued that Bitcoin should be considered an overseas currency, as gains from exchange rate volatility are not taxed. However, the Israel Tax Authority (ITA) argued that fiat currencies must be physically available under the laws of any nation. Judge Shmuel Bornstein upheld the argument of ITA and ruled that Bitcoin fails to meet the criteria. Notably, the judge indicated that the court might change its perception in the future, and the ruling is purely based on the present situation.


Private sector initiatives

Firefox Quantum is released, offering protection against cryptojacking

Mozilla has announced that its latest version of the browser, dubbed Firefox Quantum, offers protection against cryptojacking, a process involving the installation of mining software in a system without permission from the user. The mining software gets downloaded automatically when a surfer visits suspicious websites. The cryptojacking protection facility can be activated on the open source browser as and when the user deems it necessary.

Mozilla had earlier cautioned through its blog post about cryptojacking scripts embedded on websites. To fight such manipulative tricks, Mozilla collaborated with the online privacy-focused firm Disconnect to develop a tool that prevents a crypto miner from downloading through their browser. Using the toggle feature, users can activate the facility that supposedly prevents crypto jackers from exploiting the surplus computing power to mine cryptos.

In August of 2018, Mozilla announced that it would ensure prevention of cryptojacking in the upcoming browser versions. Last month, Firefox introduced browsers versions Nightly 68 and Beta 67, which included cryptojacking protection facility.

Firefox Quantum intends to terminate the method of fingerprinting, which creates a digital fingerprint of a user to track their surfing habits. applies for more than 200 blockchain patents, a popular Chinese e-commerce firm, has applied for more than 200 blockchain patents. Notably, its competitor, Alibaba, has applied for 262 blockchain related patents, while Chinese internet giant Tencent and Baidu have applied for 80 and 50 blockchain patents, respectively. The details were based on information provided by the Intellectual Property Center of China Information and Communication. The particulars indicate that tops the list with regard to blockchain patents, with Alibaba, Tencent, and Baidu taking up the second, seventh, and fifteenth place, respectively.

China leads the world when it comes to blockchain patents. Between 2013 and 2018, China filed 4,435 blockchain patent applications, representing 48% of global blockchain patent filings according to the “Blockchain Patent Situation White Paper (Version 1.0)” posted on the website of China Telecom. The US stands next to China with 1,833 blockchain patents, representing a share of 21%.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world

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