Daily News Digest Featured News

Friday September 14 2018, Daily News Digest

bitcoin
This graph shows what happens when there is a cut in supply. If the demand for Bitcoins is the same, but the supply is reduced (the supply goes from O1 to O2), then the standard equilibrium price “P1” moves up to “P2” (Bitcoin gets more expensive) Source: Ethereum World News

News Comments

United States

International

European Union

Asia

Other

News Summary

United States

Bitcoin Should Trend Higher For The Rest Of The Year, But Don’t Expect It To Exceed $ 8,500 (Forbes), Rated: AAA

While Bitcoin is no stranger to extreme volatility, the latest sell-off seems to have been overdone. We believe that Goldman’s decision is just a hiccup in cryptocurrencies’ path to mainstream adoption; ongoing efforts by a wide range of big and small companies across industries to incorporate blockchain technology should inevitably boost the adoption of prominent cryptocurrencies and tokens in the long run. As we detail in our interactive Bitcoin Price Estimatorthere should be a steady recovery in the number of unique users as well as transaction volumes on the Bitcoin network over coming months – helping Bitcoin prices reach around $8,500 by the end of the year.

Bitcoin
Source: TREFIS and Forbes

Bitcoin Boss Mike Novogratz Calls BTC Bottom using BGCI Chart and Crypto Rally/Bubble Data (Bitcoin Exchange Guide), Rated: A

According to Novogratz on Twitter, the crypto markets just touched the bottom yesterday and now they have nowhere to go but up:

“I think we put in a low yesterday. retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble…markets like to retrace to the breakout…we retraced the whole of the bubble. #callingabottom”

John McAfee: Bitcoin [BTC] Is “The Number One Coin For Processing Payments” (Ethereum World News), Rated: AAA

John McAfee commented that from a mathematical point of view, the value of Bitcoin should be close to a million dollars by 2020. The relationship between the number of bitcoins mined and the mining difficulty allows this conclusion to be reached, especially when the next block halving is approaching. This means that in a short time the amount of bitcoins that are put into circulation for each new block mined will be reduced by half, going from 12.5 BTC per block to 6.25:

bitcoin
This graph shows what happens when there is a cut in supply. If the demand for Bitcoins is the same, but the supply is reduced (the supply goes from O1 to O2), then the standard equilibrium price “P1” moves up to “P2” (Bitcoin gets more expensive)
Source: Ethereum World News

Morgan Stanley gearing up for bitcoin derivative trading, Bloomberg reports (CNBC), Rated: A

Morgan Stanley is reportedly preparing to offer bitcoin swap trading for clients, joining other top banks in a sectorwide effort to explore digital currencies.

The bank will provide derivatives that grant investors exposure to the performance of the world’s largest cryptocurrency, Bloomberg News reported, citing sources familiar with the matter.

Crypto Wallet Hardware Company CoolBitX Partners with Litecoin Foundation, Receives $ 13 Million in Funding (Crowdfund Insider), Rated: AAA

Crypto wallet CoolBitX has announced a new partnership with the Litecoin Foundation. At the same time, CoolBitX is kicking off its global launch of its CoolWallet S hardware in the US. CoolBitX envisions a future where retail consumers use their crypto wallet hardware and the company has secured $13 million in funding to execute on this mission. Investors include SBI Holdings (think SoftBank).

CoolBitX is pitching a hardware wallet that looks like a credit card. Founded in 2014 by Michael Ou, the CoolWallet S expects to be available for $99.

Botched Trybe airdrop highlights a big difference between EOS and Ethereum blockchains (Crypto News Review), Rated: AAA

There has been a lot of talk, and a lot of hype, surrounding distributed applications and the platforms that allow them to be created. Earlier this year, EOS completed a humungous $4bn ICO, and has emerged as a serious competitor to Ethereum for development within the dApp market. Indeed, there are apparently around 200 different dApp offerings in development as we speak – many of which will airdrop their own tokens into the wallets of interested EOS holders.

According to a report from The Next Web, when EOS-based social media dApp Trybe attempted to roll out an airdrop for its accompanying token, things went wrong. What transpired, due to a problem in the contracts undertaking the ‘drop, were that too many tokens were sent to certain users.

In a move that has raised some eyebrows, the development team behind Trybe were able to reverse the transactions and take back tokens from user wallets without their permission. Thus, the situation not only pulled into focus ongoing concerns about problems that could be caused by errors in smart contracts, but also one controversial difference in the way that EOS works: its mutability.

XRP’s Recent Decline: Could It Be A Case Of Manipulation? (Ethereum World News), Rated: A

Less than 24 hours ago, Ethereum World News reported that XRP HODLers were getting frustrated due to their favorite digital asset declining in the crypto markets. XRP has declined by over 90% since its all time high value of $3.82 back in January. Such a decline has caused some XRP fans to wonder if they made the right decision investing in the remittance coin that is a favorite of many.

One theory has been postulated on twitter that XRP has been manipulated all along. The post highlighting this was by @GiponFand it included the following screenshot further explaining the theory:

XRP
Source: Twitter.com

Did Ripple Divorce XRP Just To Pass The Satoshi Test? (Crypto Briefing), Rated: A

The XRP token has been the subject of much debate in the cryptocurrency world as investors grapple with the question of whether it qualifies as a security under the existing Howey Test. While there is currently no definitive ruling on XRP, the actions of Ripple Labs point to a concerted effort to comply with a new definition of a digital security, the ‘Satoshi Test’.

Morgan Creek CEO: Ethereum will Create the ‘TrustNet’ (cryptovest), Rated: A

Morgan Creek CEO Mark W. Yusko voiced an optimistic opinion about the future of Ethereum. During a Yahoo Finance discussion panel on Wall Street’s cryptocurrency skepticism, Yusko debated the topic of Ethereum’s downward trend with panel hosts Dan Roberts, Dion Rabouin, and Rick Newman.

During the panel on September 8, the hosts discussed the belief that crypto coins’ downslope is due to ICO scams and project developers scrambling to cash out their Ethereum tokens. Speaking over Skype, Yusko agreed that some ICOs were fraudulent, but stated that bad actors would appear anywhere where there’s a capital. The executive conceded that digital asset prices had been ‘well above’ their value and called the bearish trend ‘a correction’.

Crypto Custody Service for Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin Wins Regulatory Approval in the US (The Daily HODL), Rated: A

BitGo, a pioneer of multi-signature technology, today announced that BitGo Trust Company gained US approval as a regulated, qualified custodian of cryptocurrencies for institutional investors.

Uber Co-Founder’s Cryptocurrency Trading Platform Launches Institutional Brokerage (CCN), Rated: A

Voyager, the cryptocurrency trading platform created by Uber’s first CTO and a former E*Trade executive, has launched a new brokerage division designed specifically for institutional investors.

A Crypto that Only Rises in Value? Untethered to Any Fiat Currency, Stablecoin ndau Launched by Oneiro (Crowdfund Insider), Rated: A

Oneiro has launched a cryptocurrency stablecoin that is not pegged to any fiat currency such as the dollar or euro. Stablecoin ndau is described as the “world’s first buoyant coin optimized for long term store of value.”  The stablecoin is said to include built in governance, dependability and growth incentives. Oneiro, backed by VC COSIMO Ventures, reports it has successfully sold $15 million of ndau in a private sale.

Can This New Cryptocurrency Really Stabilize A Volatile Market? (American Inno), Rated: A

The Bitcoin volatility index stands at 2.77% for a 30-day estimate.

From December 2017 to March 2018, crypto startups raised $434 million in VC funding, the most ever for a three-month period. To what end? According to Bitcoin News, 46 percent of the initial coin offerings launched in 2017 have already crashed and burned, despite raising a whopping $104 million. And an additional 113 projects are considered to have “semi-failed.”

Hacera creates directory to make blockchain projects more searchable (TechCrunch), Rated: A

In the 1990s when the web was young, companies like Yahoo, created directories of web pages to help make them more discoverable. Hacera wants to bring that same idea to blockchain, and today it announced the launch of the Hacera Network Registry.

IBM Joins Decentralized ‘Yellow Pages’ for Blockchain Projects (CoinTelegraph), Rated: B

IBM has joined a decentralized cross-blockchain registry initiative which it states is a Yellow Pages analogue for blockchain projects, according to an announcement September 13.

The initiative called Unbounded Registry will be led by blockchain startup HACERA, and is designed to provide “a decentralized means to register, look up, join and transact across a variety of blockchain solutions, built to interoperate with all of today’s distributed ledger technologies.”

Smart contracts in the construction industry (Lexology), Rated: A

In addition to a smart clause automatically triggering payment on delivery of materials mentioned above, another obvious example of a potential smart clause in a construction contract is in relation to contractual communications. In the smart contracting world we can imagine that notices are issued during a morning site walk by a project manager with her tablet.

However, smart contract clauses need not be limited to procedural matters. An EPC contract for the construction of a power station will typically include different liquidated damages regimes, both for delay to completion and also for meeting specified performance criteria.

Google Play Store Temporarily Removes Bitcoin.com Wallet, Crypto Community Freaks Out (Bitcoin Exchange Guide), Rated: A

Earlier today, the Google Play Store removed the Bitcoin.com wallet. The crypto community responded predictably, with “BCash” haters calling it a just response to a scam artist and Bitcoin Cash supporters claiming it will be back online shortly.

Vault Launches Crypto Collectibles Wallet on Apple’s App Store (CoinDesk), Rated: B

Crypto wallet startup Vault has announced that it’s launching a wallet that stores non-fungible tokens and other crypto collectibles on Apple’s App Store.

Veridium taps head of Binance Taiwan as CEO of its Natural Capital Exchange (Crypto-Reporter), Rated: B

Veridium Labs Ltd, the environmental blockchain technology company which is partnered with IBM to build tokenized carbon credit markets, announced today that William Wei, the current head of Binance Taiwan, has joined Veridium as its new CEO. 

Taekion to Build Its Transactive Cybersecurity Platform on Hedera Hashgraph Public Distributed Ledger (PR Newswire), Rated: B

Taekion, an AI and distributed ledger based cybersecurity platform, announced today that its transactive distributed ledger will use the Hedera hashgraph distributed ledger platform.

International

80% Of All Altcoins Share 90% Of The Code, Study Finds (Ethereum World News), Rated: AAA

The article comments that according to a report, about 80% of all cryptos are suspected of plagiarizing code.

Likewise, the article not only talks about the total number of crypto coins that plagiarize code but also comments that in a good part of these, the newest cryptos share more than 90% of their source code with those that have the original code. Even some projects have over 95% similarities:

“The report selects 488 digital currencies that use open source code in the current digital currency market. The similarity of each digital currency code is compared in pairs. It is found that 405 similarities have reached more than 90%, accounting for 82.99 of the total %. 324 digital currency similarities above 95%.”

Ethereum Soars 18% Back over $ 200, Bitcoin Regains $ 6,500 Mark (CoinTelegraph), Rated: AAA

Thursday, September 13: total market cap has soared by almost $12 billion today, as a flush of green spreads across virtually all of the top 100 cryptoassets.

Several  top 20 cryptocurrencies are seeing double digit gains, with Ethereum (ETH) leading the pack, up over 18 percent on the day, as data from Coin360shows.

Ethereum has skyrocketed almost 20 percent on the day to trade at $207 at press time.

ethereum

Bitcoin (BTC) is trading just above $6,500 as of press time, up a solid 3.17 percent over the 24 hour period.

Monero

Other strong top ten contenders are Litecoin (LTC), up a bullish 8.24 percent at $54.90, EOS (EOS), up almost 12 percent at $5.46 and Cardano (ADA), up just 8.46 percent at $0.067.

Cryptos surge off lows, but don’t expect gains to last, says analyst (MarketWatch), Rated: A

Still, the change in fortunes for digital-asset owners could be short-lived, says Jani Ziedins of CrackedMarket. “Bitcoin keeps slipping and is barely holding $6k support. Last week’s rebound to $7.4k is dead and gave us another lower-high since we failed to match the previous $8.4k bounce. Lower-highs tells us the next lower-low is just around the corner,” he wrote in a recent blog post., noting that the limited magnitude of the bounces and suggesting that a breach of critical support prices could be imminent.

The second blockchain bubble is now complete; what’s next? (TechCrunch), Rated: A

The last few months haven’t been easy for crypto investors. Following the dizzying highs of crypto trading late last year, which saw Bitcoin  reach a peak of $19,276 and a market cap of $323 billion and Ether reach $1,152 with a market cap of more than $112 billion, prices have crashed. Today, Bitcoin trades at around $6,500, and Ether at $204. Their combined market caps have shed about $300 billion in value.

The question is: What’s next for blockchain?

Watching two bitcoin ‘celebs’ arguing poolside will scare you off crypto forever (Mashable), Rated: A

The CoinsBank Blockchain Cruise, chartered to take cryptocurrency die-hards from Barcelona, to Monaco, to Ibiza, and then back, was in its fourth day, and a highly billed event had managed to drag a few likely hung over attendees out from their below-deck cabins. Jimmy Song, a venture partner at Blockchain Capital LLC, was to argue the relative merits of Bitcoin (BTC). Early Bitcoin adoptee and Bitcoin Cash evangelist, Rover Ver, was to speak on behalf of Bitcoin Cash (BCH).

Song, cowboy hat atop his head and microphone in hand, attempted to introduce the format of the event — a “Lincoln-Douglas style debate” — but was soon interrupted by Ver.

Bickering over whether or not Ver would get a one minute introduction before the official start of the debate continued on, with Song addressing the crowd and Ver shouting at the top of his lungs.

Comprehensive Governance Is Required To Help Stabilize Cryptocurrencies (Crypto Disrupt), Rated: A

According to the authors of the Environment Systems and Decisions report, published in the Springer’s journal, participants in cryptocurrency networks such as Bitcoin, need to be better at forecasting software changes to help improve the privacy and security of cryptocurrency transactions.

More efficient governance, will result in cryptocurrencies maintaining their value, says Benjamin Trump, the lead author of the study.

Hard Forks Constitute Threat to Cryptocurrency Stability (CoinTelegraph), Rated: A

While the study says that digital currencies have the potential to significantly change commerce and information exchange on a global scale owing to the underlying blockchain technology, Trump argues that governance challenges threaten the stability of crypto. “Disruption of a cryptocurrency’s blockchain in this way might cause people to lose trust in it and its capacity to survive as a reliable vehicle of exchange,” Trump continues.

The analysis reportedly found that a fair amount of BTC forks and altcoins did not survive more than several months, though some of them have entrenched themselves and lasted for years. Per the researchers, hard forks will become more regular, with up to 50 possible in 2018 alone.

Top 10 Blockchain Companies to Watch in Q4 2018 (NewsBTC), Rated: AAA

recent study raised previous estimates of the total value of the blockchain industry from $16 billion to $60 billion.

  1. Buddy

Buddy wants to turn miners into mini data centers by creating a decentralized cloud-hosting platform.

  1. PLAYnetwork

PLAYnetwork is a new, future-focused blockchain protocol bridging the physical and digital worlds of play.

  1. Navibration

Navibration Experiences is the world’s first social network of audio-guided tours built on blockchain technology, where content is created by the users: experts in cities, writers, translators, speakers, reviewers, and travelers will have a place on the platform.

  1. ReChain

ReChain is a mobile platform that relies on the performance and security of blockchain technology to help secure their data and be rewarded for sharing it with brands and publishers within the first true loyalty ecosystem.

  1. DACONOMY

DACONOMY enables every company, organization, and individual to offer, buy and exchange data, and get insights and additional revenues.

  1. PATRON

PATRON initially made headlines as one of the largest Japanese ICOs of the year, with $40 million raised. Since completion of their ICO, PATRON has built an international team to develop and launch both in Asia and in Western markets.

Their influencer-marketing platform optimizes the way brands, fans and influencers connect.

See the rest right here.

The World Bank is a verified blockchain booster (MIT Technology Review), Rated: A

Satoshi Nakamoto invented the Bitcoin blockchain as a way for people to make financial transactions without the need for banks or governments. So it’s ironic that one of the world’s biggest boosters of blockchains—shared cryptographic ledgers inspired by the one that underlies Nakamoto’s invention—is the World Bank, which is owned by governments. It makes sense, though, argues Prema Shrikrishna, who works in the bank’s Technology Innovation Lab. That’s because her organization’s goal for its recently launched blockchain labis to “put power back in the hands of the people.”

It’s still very early in the process, but the lab’s experiments in education, financial services, and efforts to trace agricultural and pharmaceutical supply chains are already providing valuable lessons, Shrikrishna said today at MIT Technology Review’s EmTech conference today.

Blockchain Could Boost Trade Finance by $ 1 Trillion, WEF Research Says (CoinDesk), Rated: A

Blockchain is able to fill in much of the $1.5 trillion-dollar supply-demand gap in global trade finance by easing financing for small- and medium-sized enterprises (SMEs) in emerging markets, new research says.

Jointly conducted and released by the World Economic Forum and Bain & Company, the research indicates that, by deploying blockchain, global businesses can generate an extra $1 trillion in trade finance that would otherwise be missed out on.

According to an Asian Development Bank calculation, the global trade finance gap is currently at $1.5 trillion and is estimated to grow to $2.4 trillion by 2025. The research further explains that this issue largely arises from limited access to credit and loans for SMEs that are looking to expand their businesses.

How to Fix a Broken Proxy Voting System (Barron’s), Rated: A

Many agree that the U.S. proxy voting system is a mess. But no one is sure how to fix it.

The current system, in which shareholders cast votes through a host of intermediaries, came in for wide-ranging criticism at a meeting of the Investor Advisory Committee on Thursday. The IAC is group of private citizens charged with advising the Securities and Exchange Commission on regulatory priorities. The proxy voting system was the subject of a Barron’s cover story earlier this summer (“Proxy Voting Is Broken and Needs to Change,”…

Multi-Billion Dollar ICO Market Down to a Few Hundred Million (Coin Central), Rated: A

For cryptocurrency startups undertaking ICOs, August was by far the worst month this year, with only about $326 million being raised. This is a sharp drop as compared to January whose figures stood at just over $3 billion.

According to a recent study undertaken by GreySpark Partners, close to 50 percent of all ICOs launched in 2017 and 2018 failed to raise enough funds for the projects to take off, with only 40 percent of them raising over $1 million.

Five Most Common Cyber Attack Methods Crypto Investors Should Know About (Bitcoin Exchange Guide), Rated: A

Just in 2017, cyber attacks caused $275 million dollars in damages to businesses according to Equifax.

Ransomware is a new way of stealing private information that requires the attacker to introduce a file in the victim’s system.

Social Engineering And Phishing

This is one of the oldest methods for hackers to attack today. Attackers identify themselves as a company or a services provider that request information about the victims. Everything seems very legitimate, and it is very easy to provide the information that they request.

Cracking

In general, people use simple passwords to enter their platforms and services.

Man In The Middle

If there is a person using an unsecure network, there may be a hacker trying to spy on other people’s devices.

Team Behind Angry Birds Development Platform Raises $ 40 Million For Blockchain Gaming Network (Forbes), Rated: A

Beijing-based blockchain gaming platform Cocos-BCX has raised $40 million in new financing from global investors including Binance Labs, 500 Startups, BlockVC, and NEO Global Capital. The platform was created by the founding team of Cocos2d-x, the massive open-source game development platform that has spawned hit mobile games including Angry Birds, Clash of Kings, and Badlands.

The Cocos-BCX platform will consist of a blockchain-based game engine, a development environment, and a public blockchain called CocosChain. Ultimately, the company aims to become a one-stop-shop where game developers can build, release, and maintain games across multiple blockchain systems.

Chronobank Crypto Compensation Survey Research Reveals Digital Currency Salaries Preference (Bitcoin Exchange Guide), Rated: A

According to survey involving crypto hobbyists, 66% of the respondents showed preference to cryptocurrency salaries over the fiat money, which is the current norm.

Precisely, 66% of the respondents indicated that they would prefer to get paid in cryptocurrencies. 83% of the participants said that they would not mind getting their bonus payments and allowance in digital currencies. Also, 72% of the contributors stated that they would prefer an employer that offer a cryptocurrency remuneration option if they were to swap their workplace.

Concerning the readiness of markets to adopt cryptocurrency salaries, Japan emerged as the outright leader with 32% of respondents expressing the desire for such reimbursement methods. The Asian country is followed by the US and South Korea, both of which received 15%. Overall, more than a half of the participants believe that the adoption of such initiatives will spur the growth of their national economies. Remarkably, 655 of American respondents indicated that they would pay their taxes in crypto, while only 30% of Russians would welcome such an initiative.

Interstellar Prepares For Warp-Speed Transactions (Crypto Briefing), Rated: A

It may be only two days old, but Interstellar is ready to transcend time and space—at least when it comes to international payments. The company, which was only recently formed from the merger of Lightyear and Chain, announced its first partnership with ZED Network, a Canada-based startup for global payments. 

Reasons Why an Honest ICO Rating is Crucial in Fintech (Coin Idol), Rated: B

In the financial technology industry, honest rating websites for ICOs are important for the following reasons:

1. Preventing scam ICOs from flourishing

2. Helping investors make informed decisions

3. Ranking ICOs according to important standards set

European Union

Binance CEO Disagrees With Vitalik Buterin: “Crypto Will Absolutely Grow 1000x And More” (Oracle Times), Rated: AAA

Vitalik Buterin, the co-founder of Ethereum (ETH), posted on Twitter on September 11th that “there isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.” Vitalik’s statement went viral in the crypto community but also forced some other market’s figures to come out to comment. For example, the Binance CEO disagreed with Buterin and said that “crypto will absolutely grow 1000x and more.”

Constantinople Ahead: What You Need to Know About Ethereum’s Big Upgrade (CoinDesk), Rated: AAA

Finalized August 31, Constantinople includes five different ethereum improvement proposals (EIPs). Once released on ethereum, the proposals will permanently alter the blockchain with a host of new backwards-incompatible upgrades.

This means that nodes — the network of computers that run ethereum software — must either update together with the whole system or continue running as a separate blockchain entity.

The five EIPs set to be released in Constantinople are:

  • EIP 145: A technical upgrade written by two ethereum developers, Alex Beregszaszi and Pawel Bylica, EIP 145 details a more efficient method of information processing on ethereum known as bitwise shifting.
  • EIP 1052: Authored by core developer Nick Johnson and Bylica, EIP 1052 offers a means of optimizing large-scale code execution on ethereum.
  • EIP 1283: Based on EIP 1087, which was written by Johnson, this proposal mainly benefits smart contract developers by introducing a more equitable pricing method for changes made to data storage.
  • EIP 1014: Created by the founder of ethereum himself, Vitalik Buterin, the purpose of this upgrade is to better facilitate a certain type of scaling solution based upon state channels and “off-chain” transactions.
  • EIP 1234: Championed by Afri Schoedon, release manager for major ethereum client Parity, this upgrade is the most contentious of the batch, reducing block mining reward issuance from 3 ETH down to 2 ETH, as well as, delaying the difficulty bomb for a period of 12 months.

FOAM Is Live: Decentralized World Map Launches on Ethereum (CoinDesk), Rated: A

FOAM, which aims to build a reliable, resilient world map using smart contract technology, announced that the decentralized application (dapp) has launched on the ethereum blockchain and is already “seeing the first users populate the map.”

Ethereum’s Vlad Zamfir Claims Breakthrough In Blockchain Sharding (CoinDesk), Rated: B

Ethereum might just be one step closer to sharding its blockchain.

At least that’s according to long-time blockchain researcher Vlad Zamfir, who claims to have coded up a successful proof-of-concept of the idea at the ethereum hackathon EthBerlin this week. Built with the help of several other developers, including Tim Beiko and John Marlin, the code is said to demonstrate how different ethereum shards may be able to someday communicate on the blockchain.

United Kingdom

UK Land Registry selects Corda for blockchain (Ledger Insights), Rated: AAA

Today at Corda Con R3’s CEO David Rutter announced that Her Majesty’s Land Registry (HMLR) chose Corda for blockchain development. The project aims to explore how to make the house buying process in the UK faster, simpler and more transparent.

Brave Browser Files GDPR Complaint Against Google, Dumps Search Engine (CCN), Rated: A

Reuters reports that the company, whose browser blocks obtrusive and privacy-infringing advertisements by default, has filed formal complaints against its much larger rival in Britain and Ireland, hoping to trigger provisions in the recently-implemented European General Data Protection Regulation (GDPR) that would require an EU-wide investigation into the tech giant’s data policies.

In the complaints, Brave alleged that Google’s practice of using “real-time bidding” to allow companies to purchase personalized ads exposes more user data, including sensitive information such as sexuality, ethnicity, and political views, than is authorized under GDPR.

deVere Crypto Adds Two New Cryptocurrencies – In The Current Bear Market (Information Security Buzz), Rated: B

Ethereum Classic and ZCash have been added to deVere Crypto, one of the world’s leading cryptocurrency exchanges, due to strong client demand.

China

A New Line of Powerful ASIC Miners Is Coming to Ethereum (CoinDesk), Rated: AAA

Chen Min, the former chief chip maker at bitcoin mining chip developer Canaan Creative, launched a new venture to build cryptocurrency mining devices called Linzhi. The firm’s first project tackles the ethhash algorithm used by ethereum and ethereum classic, with a new line of application-specific integrated circuits (ASICs) miners set to be released sometime next year.

Dubbed Project Lavasnow, Linzhi’s new ethereum miner claims to use 1/8th the amount of electricity as Bitmain’s ethash miners, according to a presentation Chen developed for the Ethereum Classic Summit held this week. It also expects to run 1,400 million hashes per second, compared to 190 from one of Bitmain’s AntMiners.

The increased hashpower means one of Linzhi’s miners should generate roughly $20 per day, compared to a projected $3 from a Bitmain miner. As a result, the company expects customers to break even on the cost of a miner within four months of purchase.

AML BitCoin Announces Listing on HitBTC Exchange (Hastings Tribune), Rated: B

AML BitCoin (ABTC) continues its banner inaugural year by being listed on one of the world’s largest digital currency exchanges, HitBTC.

Asia

Huobi Acquires Licensed Cryptocurrency Exchange in Japan (CCN), Rated: AAA

Giant cryptocurrency exchange, Huobi has acquired a majority stake in Japan-based BitTrade in a move that is aimed at significantly scaling the trading platform and giving it greater global recognition.

Coinbase Sees Opportunity in Asia (CryptoDigest), Rated: AAA

Speaking at the Ethereum Classic (ETC) Summit, Coinbaseofficial Keyvon Pirastani has stated that although Coinbase has an almost exclusively US and Europe-based customer base, the company sees huge promise in the Asian region. He mentioned that Coinbase currently has offices in Tokyo and will be seeking to expand services to institutional investors in Asian markets.

Crypto investors face up to volatility as market crashes (AsianInvestor), Rated: A

The much-hyped cryptocurrency market has come crashing down and while institutional investors have escaped the carnage, there is concern that many high-net-worth Asian investors could take a hammerin…

SBI to Roll Out Ripple DLT-Based Payments App on iOS, Android (CoinDesk), Rated: B

Japanese financial giant SBI Holdings is soon to launch a payments application for iOS and Android devices powered by Ripple’s distributed ledger technology.

Takashi Okita, chief executive of SBI Ripple Asia – a joint venture between SBI Holdings and the San Francisco-based Ripple – revealed the website of the application, named MoneyTap, on Wednesday.

Russia

WAVES Up 20% After Partnership with Russian Conglomerate Rostec, Mainnet Smart Contract Launch (Crypto Globe), Rated: AAA

Waves (WAVES), a cryptocurrency platform that allows users to issue their own blockchain-based tokens, has surged over 20% in the past 24 hours according to data from CryptoCompare.

The significant increase in the Waves token’s price comes shortly after the announcement that Russia’s giant manufacturing firm, Rostec, will utilize the Waves platform to manage its data.

Russia and ICO ( Initial Coin Offering) Problem (The Oofy), Rated: A

This platfrom, which was established in Russia, is operated by Central Bank of Russia. An initial coin offering (ICO) pilot was released.

Ivan Semagin made an interview speech. The main subject in his speech was ‘Sandbox ICO’. He made another announcement in May. He announced that Sanbox ICO was successfully resumed. He made his speech in Vladivostok, a port city close to the Chinese border.

Canada

Jaxx wallet phishing campaign aimed to steal user cryptocurrency (ZDNet), Rated: A

The legitimate Jaxx Liberty domain is located at jaxx .io. Unfortunately, scam artists recently saw an opportunity for criminal gain due to the simple address and launched a website with a similar name, jaxx .ws.

According to Flashpoint researchers, the spoofed domain served a number of custom and commodity malware payloads with the end goal of stealing wallet credentials and emptying accounts of cryptocurrency.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *