Microsoft to Use the Ethereum Blockchain to Prevent Piracy

Tech giant Microsoft in a recent announcement has stated that it is planning to use the Ethereum blockchain to combat digital piracy by relying on the network's transparent and decentralized nature. The Redmond-based company is now concentrating on new concrete system named Argus, which Microsoft dubbed as the "first public anti-piracy system."

Microsoft along with other researchers from Chinese e-commerce behemoth Alibaba and Carnegie Mellon University has recently laid out the design, implementation, and evaluation of the new system. Microsoft has said that Argus will be running on a public blockchain to allow digital piracy informers to remain anonymous while maintaining a great level of transparency for the wider public at the same time.

Argus will be protecting the identity of the informers and it will also allow the firm to backtrack the source of the pirated content. Furthermore, by optimizing various cryptographic operations, the cost for piracy reporting will be "reduced to an equivalent cost of sending about 14 ETH-transfer transactions," the company added, contrary to the typically transaction fees for which Ethereum is known for.

 

 

Dogecoin Gains 8 Percent Profit after Elon Musk’s Tweet in Support of the Cryptocurrency

Elon Musk has thrown his weight behind Dogecoinmany times and it is not a secret now that he wants to take it to the next level. His tweets about the ShibaInu face-themed currency, now has a staggering market cap of Rs. 2.1 trillion. The Tesla CEO warned that Bitcoin and Ethereum — the world's two biggest cryptocurrencies — were pursuing a multi-layer transaction system, but their transaction rate was slow and the cost was really high.

Musk’s comment came as a response to a tweet by Dogecoin investor Matt Wallace. "Reminder: The Dogecoin update is coming soon. It will position Doge perfectly to become one of the most used currencies in the world," tweeted Wallace. Replying to the tweet, Musk wrote, "BTC [Bitcoin] and ETH [Ethereum] are pursuing a multilayer transaction system, but base layer transaction rate is slow and transaction cost is high."

In recent times, Doge is maximizing base layer transaction rate and minimizing transaction cost with exchanges. Following an active presence and explanation of various aspects of Dogecoin by Musk, the Cryptocurrency token which was dipped nearly 10 percent has gained eight percent gain.