Substratum SUB

$0.1138
Market Cap $ 43.591 MM (#124)
24h Volume $ 643.019 K
Chg. 24h: 0.93%
Algo. score 3.7/5  (#102)
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Substratum News

Ethereum Testnet Issues Now Fixed

Within hours of a bug that split Ethereum’s testnet being found, the problem was fixed and as was predicted, the glitch was related with the new Ethereum Improvement Proposal (EIP) which adds efficiency gains to calculations with only Parity to apparently be affected. A Rust developer called, Wei Tang said: “The bug has been fixed. It affects parity and aleth, which we had the same bug,” with aleth being a C++ eth client. He continued to say, “I fixed the SSTORE refund saturating sub bug and confirmed that it indeed computed the same state root as geth. I guess when Afri wakes up, we’ll try to get a patch release really soon which should fix the current consensus issue on Ropsten.” An Ethereum developer called Martin Holst Swende tested the fix with it showing that the two main clients of Ethereum, Geth and Parity, can now be in sync. An independent research and software dev, Alexey Akhunov spoke on the matter and said: “I suppose Parity just uses a different way of accounting the refunds. Instead of having global counter + changes in the journal, it has substrates with their own counters, which could be applied or not applied (if reverted) during the finalisation. I remember that geth had a similar approach before Shanghai DoS and then changed it to the journal. But I suppose Parity is much more sparing with allocations, so it can afford that.” According to TRUSTNODES, this essentially means they take an alternate approach to calculating gas which is all well and good if they reach the same result. Tang says: “It is related to a gas refund for SSTORE gas reduction. Our code failed to account for the case that a substate refund can go negative. “The general idea to hard fork Ropsten is so that we can have real-world data to test the Constantinople hard fork so that bugs like this can be spotted. We had some expectations that Ropsten might be down for a few days (but we didn’t expect it to be a Saturday!). Of course, any consensus bugs on mainnet would be really serious.” Since the bug has now been found and fixed, Parity needs to release a new client of sorts, after a new testnet block will be set and thus beginning the testing process once more. What are your thoughts? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Ethereum Testnet Issues Now Fixed appeared first on Crypto Daily™.

11 hours ago

Africa’s economies are still too far off fulfilling the “Africa rising” narrative

African economies will require significant work to compete at on global scale. In the latest Global Competitiveness Index—a report compiled by the World Economic Forum—African countries make up 17 of the bottom 20 nations. While the global median score is 60, the median in sub Saharan Africa (45.2) is the lowest for all the regions analyzed. The annual index ranks countries based on 12 pillars based broadly on these factors: an enabling environment, markets, human capital and an innovation ecosystem. Each of the 140 countries are ranked based on their scores out of 100. Mauritius and South Africa are among the few bright spots with both being the only two African nations in the top half of the index. Mauritius’ top ranking is hinged on scoring high on pillars, especially strong institutions. Its 62.9 score on institutions is particularly considered a “considerable competitive advantage” in sub Saharan Africa as 65% of economies in the region score below 50. Top ten ranked African countries Rank Score Mauritius 49 63.7 South Africa 67 60.8 Seychelles 74 58.5 Morocco 75 55.6 Tunisia 87 54.5 Botswana 90 55.6 Algeria 92 54.5 Kenya 93 53.8 Egypt 94 53.8 Namibia 100 52.7 Across the board, sub Saharan Africa posts the weakest average regional performance on 10 out of the 12 pillars analyzed, including information communications technology adoption and the human capital pillars of health and skills. As Quartz has previously reported, internet costs are higher in Africa than everywhere else while internet speeds across Africa are still far below the global minimum standard. The scale of human capital spending is also reflected the World Bank’s first ever Human Capital Index released this month. Nigeria—Africa’s largest economy—ranks 152nd of 157 countries analyzed and Africa accounts for the entire bottom 10. Boosting scores on future indexes and creating more competitive economies, the report says, will depend on how “old developmental issues”—mainly weak institutions, poor infrastructure and skills deficit—are resolved. “The much-vaunted economic leapfrogging will not happen unless these issues are addressed decisively,” the report adds. Sign up to the Quartz Africa Weekly Brief here for news and analysis on African business, tech and innovation in your inbox Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox.

a day ago

Cryptocurrency exchanges should work together to deter hacking attacks, says CEO of Hosho Group

In order to deter the ever-increasing hacking attacks on their systems, cryptocurrency exchange platforms should deploy security protocols in coordination, opined Yo Sub Kwon, the CEO of Hosho Group, a smart contract auditing, and security firm. Speaking at Bloomberg’s Sooner Than You Think event, Kwon said that most fraudsters, more often than not, funnel the funds stolen to other exchanges as a security measure. As the security measures and protocols of exchanges are different and exclusive, they essentially ‘help’ the hackers, he said. Kwon further explained: “The only way to counter this is to ensure that they work together and are aware of the security protocols. They should come up with a system that alerts any sudden huge deposits so that in case of a hack, the transaction can be tracked back.” The CEO added that most attacks are fairly simple and do not involve any major technological element. Therefore, it is easy to secure the transactions if the exchanges work in tandem. Reciprocating Kwon’s view, Stacy Scott, managing director of cyber security and investigations at Kroll, said that it is an ideal solution to the problem. According to her, most hacking attacks are untraceable because of the technology involved. She said: “Most hackers communicate through channels facilitated by exchanges or through social media. To track the perpetuators, the investigation team has to search through the trails left behind by the communication channels.” Apart from working together, exchanges should educate users about the dangers involved, Scott said. Kara Coppa, BLAKFX co-founder and COO, said that security in itself revolves around integrity, cooperation, and authentication. These parameters can be further strengthened if the exchanges work together and users will have a much secure environment, she added. The post Cryptocurrency exchanges should work together to deter hacking attacks, says CEO of Hosho Group appeared first on AMBCrypto.

3 days ago

Bitcoin Price Analysis: Bulls Defend Yearly Support Amidst Wall Street Slump

As Bitcoin price moves towards the second weekly close of October, we recap what happened during the week and look at the bullish versus bearish case for the number one cryptocurrency. 1 Day chart Bitcoin price 00 has spent most of October in a tight range oscillating between lows of $6400 and highs of $6,650 as it continued a slow grind towards the horizontal resistance, which has capped the cryptocurrency’s price since January 2018. Price action continued to respect this range until Wednesday the 10th where Bitcoin began a sharp decline of around 8% from $6,600 which lasted two days, testing yearly support at lows of $6,051. This decline coincided with a large sell-off in stock markets across the world, which was largely sparked by a recent spike above 3.25% in the yield on 10-year US Treasury note for the first time since 2011. The significance meaning that the cost of borrowing would increase and negatively impact consumer spending and corporate investment, which would ultimately reduce the output of the listed companies. This is the second wobble in the stock market during 2018, the first of which came at the end of January, which also seemingly sparked a large decline for Bitcoin, although back in January the decline represented a 40% reduction from around $11,000. When the S&P fell 7% at the end of Jan 2018 $btc lost 40% of its value. SPX -7% this week btc is c.-6%. Losers this week: Netflix -12%Tesla -5%Apple -4%Twitter -5% There could be some more to come for $SPX but you need to pay attention to these things. pic.twitter.com/hJU3P2p08r — fil₿fil₿ (@filbfilb) October 12, 2018 One important thing to note here is that Bitcoin behaved in a similar risk off way as other equities. Bitcoin, while aspiring to be a safe haven asset, actually behaved as a speculative asset and did not receive the appreciation seen in traditional flight-to-safety commodities Gold and Silver. While some significant ground was lost, Bitcoin did not slide into the $5,000s or lower, which certainly would have occurred earlier in the year. This may be indicative that Bitcoin is relatively close to the bottom, but its future price action will be at the mercy of the wider economic environment. Therefore the first couple of days trading on Wall Street is likely to influence the directional bias for Bitcoin price. Weekend Appreciation Bitcoin found temporary support at $6,051 on Thursday and the bears have failed to push lower, with price looking to be ranging within the 23.6% retracement of decline at around $6,200. Over Saturday night, the bulls broke out of what looked like a bear flag and pushed up to the 50% retracement at $6,355, before being sharply rejected. The bears will be looking to capitalize on the rejection and look to realize the AB=CD or bear flag target which would see prices reaching for the lowest range of yearly support at $5,800 Weekly Chart The weekly chart shows that the Bulls really have one objective for the final day of this week. Price must remain above $6150 to avoid the lowest weekly close of 201,8 which has held since June. This would only provide temporary relief for the bulls who then need to push price over $6400 to avoid the same on the monthly chart. With this in mind and with the bears continuing to push Bitcoin back to its support we can take a look at other sentiment indicators to see if there are any clues about underlying strength or weakness for the bulls and bears. There is generally a growing fear endemic in the Bitcoin community, with unclear market events such as USD tether trading at a discount and weakening buyer action at support. An attempt to measure this is made by the Crypto Fear and Greed index, which uses various weighted inputs to deliver an index which shows sentient. Last week, this reached out to yearly lows and it was quite prevalent on Twitter, with many believing $6,000 would not hold. Looking at this as a chart, it would indicate that if past history were an indicator, that many contrarians may view this fear as a buying opportunity. Mounting Shorts Margin Short positions margin shared by Bitfinex are over 35k, reaching for all-time highs and suggest that traders are confident betting on betting on lower prices. Historically there has been an inverse relationship between mounting short positions and future price action. We can see where the short positions were built and are therefore exposed, but a high number of short positions does not necessarily imply higher prices. Almost half of all short positions are built from a base of $8,500 with the rest being deep in profit from around $14k. Clearly, these positions will need to be closed at some point, but with a short squeeze being some 30% above current price action, it feels a long way off and it may be that the closing will occur if sub $6,000 prices are realized by the bears. Around 75% of the remaining Long positions are from lower prices. It is likely that a break below $5,800 will trigger the sto

7 days ago

Dogecoin Price Rebounds Slightly as Traders Diversify Holdings

Today is shaping up to be a very intriguing day for all cryptocurrencies. The overwhelming bearish pressure is still in full effect, albeit some currencies are showing some positive signs. Dogecoin, for example, is doing a lot of things right, as the currency is finally noting some gains once again. Dogecoin Price is on the Mend, for Now It has been a very peculiar trend throughout 2018. More often than not, a declining Bitcoin value tends to have a positive impact on the Dogecoin price. That in itself is always a bit controversial, even though there is no reason to think altcoins will continue to rely on Bitcoin’s momentum for the foreseeable future. Over the past 24 hours, the value of Dogecoin has noted a near 5% increase. This is in line with the gains in the DOGE/BTC ratio, as that has also shifted by roughly 5%. Because of these gains, the Dogecoin market cap has risen above $600m once again. A positive trend, especially when considering how things looked a lot bleaker just a few days ago. No one will deny Dogecoin has one of the biggest cryptocurrency communities to date. A new poll organized by AltcoinShops seeks to prove this sentiment once again, as they are having a “final tournament” to determine the strongest community. DOGE is fighting XRP, TRON, and Substratum in this rather unusual mix. FINALS! Which #crypto community is the absolute STRONGEST? The winner of this #poll will win a FREE article in Altcoin Magazine so make your vote, comment, like and retweet! In this final round we have @Ripple $XRP, @Tronfoundation $TRX, @SubstratumNet $SUB, and @dogecoin $DOGE! — Altcoin Magazine (@Alt__Magazine) October 11, 2018 Despite the current gains being noted, not everyone is confident things will continue to head in the right direction moving forward. Linus Harbington, for example, is confident there will still be a pullback to $0.0044. Afterward, a strong surge to $0.02 might occur. Interesting ideas, although the future can look very different. $DOGE #dogecoin in the process of completing its pullback, targeting $0.0044. After that, it's looking very bullish. Conservative target of $0.020 (ATH), but we may see it go as high as $0.033. I anticipate this to move in lock-step with $ETH #ethereum, pending any catalysts. pic.twitter.com/PFOL28kLK4 — Linus Harbington (@harbington) October 12, 2018 As is usually the case, there are also those who convey the message of holding one’s coins at all times. ReZource Guy is confident now is the time to hold Dogecoin and Litecoin, even though the momentum earlier today looked anything but promising. So far, the advice is paying off, as the trend has effectively reversed for one of the two coins. Just keep HODLing. #LTC #DOGE #HODL — ReZource Guy (@ReZourceGuy) October 12, 2018 For the time being, traders still need to tread carefully where Dogecoin is concerned. It is a pretty solid market right now, yet the trading volume is anything but convincing. Additionally, there is a chance these small gains will trigger some profit-taking in quick succession, which can shake things up quite significantly. The post Dogecoin Price Rebounds Slightly as Traders Diversify Holdings appeared first on NullTX.

8 days ago

Reddit thread engagement!! Let's make it happen guys.

I know a lot of the ETC hodlers frequent this sub but may do so more in a lurking fashion than in a daily post or comment manner. I just want us as a whole (~1000 showing to be here at time of this post) to start spending more time just communicating with each other on this sub. It can be to discuss future projects, adoption, who is using ETC as a platform, etc or it can just be to talk about your life in general (got a girlfriend, broke up with a SO, new dog, new job, etc). I know that there are more people around these parts that are both passionate about ETC and crypto overall so I want to encourage everyone to take more to discuss that interest here as well as just their day to day interests outside of crypto. My hope is that more people will start to interact and engage with eachother and we can build up more support within the walls of this sub not just for ETC but for each others lives. If you have hopes, dreams, obstacles, frustrations, etc I think this could be a great place to discuss those things to become more connected as an ETC hodler community. Hopefully everyone is having a great year outside of the crypto bear market. There is so much development happening in crypto as a whole and ETC but life does exist outside of crypto. I think when people are down in their portfolio and holdings, its a great time to connect as people and try to remember that despite price action, there is a solid foundation and community behind this project! ...

16 days ago

Time to vote for DASH in BattleBracketz. Round 1 ends on Saturday and we need to make sure we win this.

Not sure who all in this sub have built a bracket for BattleBracketz, but there are only a few days left to vote for Dash to advance to round 2... Lets get the community to make sure we don't lose to Basic Attention in Round 1. Link: http://battlebracketz.com Showtime. ...

23 days ago

Bitcoin [BTC] Price Continues Bearish Movements- Is Sub $6k in Sight?

Bitcoin is undergoing its fourth consecutive drop today. The depreciation was small over the weekend but have been considerably larger these past two days. The key pattern which is still in play is the descending triangle which has been forming since January. The descending triangle would indicate that price is set to continue its decline Bitcoin [BTC] Price Continues Bearish Movements- Is Sub $6k in Sight? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News....

a month ago

New Features to be Excited About In The Substratum Ecosystem...

New Features to be Excited About In The Substratum Ecosystem: SubstratumNode, CryptoPay, & Amplify... https://t.co/Bl4JQc4Dd7...

a month ago

The next leap forward for #cryptocurrency - CryptoPay & ...

The next leap forward for #cryptocurrency - CryptoPay & Amplify by Substratum Full video: https://t.co/2ypOBfLkzh... https://t.co/3Z93s88cDS...

a month ago

A Bitcoin Whale, Silk Road Rumoured to be Dumping Bitcoin Worth $1 Billion

It has been rumored that someone wants to dump $1 billion bitcoins in the market. Silk Road, the darknet website has been speculated by the internet to be this whale looking into dumping these bitcoins. It is believed that this enormous amount was facilitated from illegal bitcoin transactions on the darknet. In the last three days, the entity controlling the wallet has been moving BTC funds, and through the sub wallets, breaking them into 100-coin blocks. In the information posted on Reddit, so far 60,000 BTC has been transferred the same way. (KE)

2 months ago

Japan's Largest Bank Is Bullish On Ripple

At a recent conference, Steven Diep, a representative of Japan's largest bank, Mitsubishi UFJ Financial Group, Inc. praised Ripple for offering a better alternative to SWIFT. He said SWIFT takes long hours, and high fee to transfer money from one part of the world to another. Ripple can get the same transaction done under 30 seconds for a fraction of the fee. He also added that they're looking to integrate Ripple in any way they can. XRP is currently priced at $0.3359, losing 0.48% in the last 24 hours. (VS)

2 months ago

Regulatory Barriers to Bar Japanese and US Customers From Using LINE’s New Crypto

Line Corp. recently made headlines following its plans to launch their cryptocurrency, LINK in September. Line is a subsidiary of Naver Corporation, the leading internet firm, in South Korea. Line will not issue an ICO; rather it will reward its users based on certain features on its messaging app. However, their customers in the US and Japan will not use LINK due to licensing requirements in the countries. (VK)

2 months ago

Australia's Biggest Stock Exchange Is Moving Its Blockchain Plans To 2021

The Australian Securities Exchange (ASX), which announced its plans to use blockchain for post-trade settlements system has pushed the date from 2020 to Q1 2021. The current system, House Electronic Subregister System (CHESS) has not been upgraded for nearly 25 years. ASX revealed that its stakeholders felt they were very aggressive with their timelines. The current target is March-April 2021. (VS)

2 months ago

Coinbase Is Planning To Expand In Dublin

American cryptocurrency exchange Coinbase is currently testing out Dublin as a location for its next office, with the help of support of State development agency IDA Ireland. Coinbase has already begun hiring customer support analysts, a compliance officer, and an office manager. Coinbase's current expansion is a part of its global expansion drive. It incorporated a local subsidiary, Coinbase Ireland Limited, in July. Dublin is the exchange's third office outside US, after UK and Tokyo. (VS)

2 months ago

South Korea Is Doubling Down On Its Blockchain Efforts Next Year

In an effort to modernize the country, The Korea Internet & Security Agency (KISA), a sub-organization of the Ministry of ICT has announced that the number of blockchain pilot projects in the public sector will be increased from six this year to 12 in 2019. Also, the government is increasing the budget by 10 billion Korean won (approx. $9 Million) on top of the already existing 10 billion Korean won fund. The results of the current pilot projects will be announced in November, after which KISA will host a blockchain hackthon competition in December. (VS)

2 months ago

VeChainThor Mainnet Version 1.0.2. Launched

VeChain Foundation has announced the release of the VeChainThor Mainnet v1.0.2. In a Twitter post, VeChain said the new release had enhanced performance, bug fixes, and other new features. The team said the update also supports subscription for new blocks. The software’s error-handling capability is also improved. The new update can be downloaded from the company’s GitHub page. VeChainThor Mainnet was launched in June and had a range of inbuilt features such as KYC tool. (VK)

2 months ago

Australia's ASX Delays Blockchain Transition by 6 Months

According to Reuters, Australian markets operator ASX Ltd said on Tuesday it has delayed its switchover to blockchain technology by six months to devote more time for user development and testing. Last year, ASX said it would replace its registry, settlement and clearing system with blockchain technology to cut costs for customers. The decision to replace the Clearing House Electronic Subregister System (CHESS) on Australia’s main bourse follows two years of testing of distributed ledger technology, also known as blockchain. It is said that the move will l make the Australian Securities Exchange one of the biggest mainstream financial markets to use the relatively new ledger system.(RL)

2 months ago

Craig Wright Supports Are Manipulating Reddit Comments Using Bots

The fight for Bitcoin Cash's future is getting ugly, with an upcoming fork. The side led by Craig Wright has been caught red-handed while planning to manipulate r/btc subreddit which is dedicated to Bitcoin Cash. Though vote manipulation is against Reddit's rules, the side led by Wright claims it is needed to 'educate people.' Some posts on the subreddit have already been subject to bot attacks to push them above other posts. (VS)

2 months ago

Japan's Largest Bank Is testing Its Own Cryptocurrency

Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank, is currently testing its own cryptocurrency “MUFG Coin" for employees to pay in convenience stores. MUFG Bank has assets worth roughly over $2.76 Trillion. MUFG is hoping to analyze the issues and possible improvements of using its digital currency in the real world. MUFG Coil will eventually be rolled out for wider adoption in both financial industry and retail businesses. (VS)

2 months ago

Japan's FSA Adds 400 More Questions to Cryptocurrency Exchange New Applicants

A local report has indicated that Japan's Financial Services Agency (FSA) has increased questions asked to applicants when registering for cryptocurrencies exchanges by 400 items. The applicants will now have to submit a report on a formal board meeting to ascertain if the applicants' covered security measures for the safety of their customers together with their financial health. After the submission, the FSA would do an on-site inspection to make sure whats in the report is accurate. Previously all they needed was information on the financial backing of the applicant together with the system safety security, but now they have jumped into looking at the board meeting records together with "the composition of an applicant company's shareholders. (VK)

2 months ago

CoinEx to List BSV

Coinex has announced that it will be one of the first exchanges to list Craig Wright’s Bitcoin-SV (BSV) if Bitcoin Cash gets forked in November. Bitcoin-SV has not been tested yet and can be subject to 51% attacks. Also, it is not clear if BSV will come with replay protection. Bitcoin cash has also been gaining recently on a successful stress test. Bitcoin Cash (BCH) is currently priced at $627.60, gaining 11.74% in the last 24 hours. (VS)

2 months ago

Quantstamp Releases Blockchain Security Protocol On The Ethereum Network

Quantstamp (QSP), a project focused on providing smart contract auditing services, recently announced that the Quantstamp betanet protocol is now live on the Ethereum mainnet. Users can now submit audit requests directly to the betanet version through a portal on the Quantstamp website. Once completed, the protocol will generate a publicly viewable audit report that can be publicly verified via its unique hash. This makes it so that users can verify that a smart contract has been audited to ensure necessary security precautions have been put in place. (JF)

2 months ago

Japan’s Largest Bank Experiments Using Own Crypto at Convenience Store

Japan’s Mitsubishi UFJ Financial Group (Mufg) has recently been experimenting with its own digital currency, the Mufg coin in an effort to explore how “blockchain technology could be applied for a variety of everyday financial needs, such as withdrawals and deposits to transactions and payments.” They have currently been testing the Mufg coins at a convenience store that is solely for employees and is located at the group’s headquarters in Tokyo, along with being able to use the money to do things like split bills when colleagues eat out. The price of one Mufg is pegged and equal to one Yen. (JF)

2 months ago

Hard Fork Holders to be Given Tax Guidance by IRS

IRS has been hesitating to issue official taxation guidance to crypto events, such as hard forks. Questions have risen on whether hard forks are taxable events that need immediate tax payment. It is for this reason that the IRS has been told to clear the air on their position regarding the subject. The American Bar Association, together with the American Institute of CPAs, has formed a lobby group that will work with the IRS to provide a framework that will enable issuance of guidance regarding proceeds from future hard forks. CPAs have adviced that long-term hodlers of coins that are forked be treated according to the rules that govern capital gains taxation. (KE)

2 months ago

Former Ripple CTO's 'Project, Coil' Blockchain Initiative, Enters Closed Beta

Ripple's former CTO, Stefan Thomas, founded a new company called Coil when he left Ripple in May. Coil has now entered a closed beta stage of release. The blockchain project aims to help content creators to monetize their work. It seeks to take the middleman's role out of the equation. Stefan said that companies like Netflix and Spotify have subscription services, while behemoths like Facebook and Google collect data from people and use the same to serve ads and make money. Small players go through a hard time trying to enter the market, and have to rely on the big players. For this reason, Coil is aiming to level the playing field. (KE)

2 months ago

Walmart Wants to Build an Army of Autonomous Robots Controlled by Blockchain

According to documents released by the US Patent & Trademark Office (USPTO), Walmart has plans to build a squad of autonomous robots that will be controlled and authenticated through a blockchain network. The patent Walmart submitted entails a system that oversees the “in-field authenticating of autonomous robots.” According to Walmart, the robots will be used to make deliveries, in a move that may help the firm compete with Amazon in the retail field that has seen many casualties in the last few years. (JF)

2 months ago

California Passes Blockchain Technology Bill

The state of California has successfully passed Bill AB2658. Also known as the blockchain bill, it has been approved by both the houses of the Legislature. California now joins Ohio, Delaware, Tennessee, Wyoming, and Colorado to pass a blockchain bill successfully. Through the bill, a workgroup will be created to analyze the use of blockchain by the state government. The group will have 17 members, from both the public and private sectors, who are required to complete and submit a report by July 2020. (VS)

2 months ago

Russia: Transparent Market Based in Ethereum for Farmers

Moscow government is looking forward to coming up with an intelligent system dedicated to support farmers trading activities in the market. This is set to use ETH blockchain for transparency purposes. Farmers in Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia will be able to access the services from the system till 25th November. This came about after farmers showed interest in trading spots. It has been recorded that 20,000 applications are submitted every year which poses a challenge when it comes to their control and review. It's for this reason that Ethereum blockchain was selected to provide a solution for transparency and immutability while increasing efficiency. (VK)

2 months ago

Moscow: The Government will be Using Ethereum Blockchain to Better Transparency in Commerce

The government of Moscow plans to use the Ethereum blockchain to allot to farmers trading spots. The system will be recording farmers applications and be updating previous applications which were accepted or rejected. 15000 trading spots are to be bid for during the April-November market season. 20,000 applications are expected to be submitted this year from farmers based in among others Belarus, Russia, Armenia, and Kazakhstan. (KE)

2 months ago

Russia to Consider Reversing its Ban on Telegram if the Latter Shares Its Encryption Keys

According to CCN, "Russia's telecommunications watchdog said that it will consider reversing the ban on messaging service Telegram if the company submits to a court order requiring it to share its encryption keys with federal law enforcement."The company is now banned in the country as it refuses to do so. Russia slaps the ban on the company on the prerequisite that they need the encryption keys to decrypt messages to fight terrorism. And Telegram currently refused to comply, claiming that "a balance must be found between national security and privacy." (RL)

2 months ago

Poll: 8% Of Americans Invest In Cryptocurrency

Harris Insights, the well known analytics firm, recently release a poll that showed that 8% of American adults are invested in cryptocurrency. While it doesn’t compare to the 52% that invest in stocks, it shows that the pool of investors is substantial and continues to grow. One key takeaway from the poll is that younger investors with less overall capital were more likely to participate in the risky cryptocurrency market, and there was a general reluctance for adults at any age that earned over $100,000 annually to invest in cryptocurrency. (JF)

2 months ago

New York: Super Crypto Mining Turns to Hydroelectricity to Power Mining Rigs

Super Crypto Mining, a bitcoin mining firm based in New York, has turned to hydroelectricity to power its mining equipment. The company, which is a subsidiary of DPW Holdings, has announced that it will set up a mining site near Ney York’s Valatie falls. The new site is set to begin operating in the final quarter of 2018. The company’s CEO said the dam would provide clean, renewable and low-cost electricity to the farm. (VK)

2 months ago

Valatie Falls to Generate Power for DPW to Start Bitcoin Mining

Valatie Falls, a hydroelectric dam based in New York will generate power for DPW Holdings Inc. for a mining farm of Bitcoin. The mining is expected to begin its operations in this year's last quarter. The subsidiary of DPW will create the farm with the use of AntEater miner. The miner was established through collaboration with Samsung semiconductors. (KE)

2 months ago

Samsung Aims to Use Blockchain for Streamlining Banking

Samsung SDS is a subsidiary of South Korean Samsung Group. It has partnered up with the Korean Federation of Banks to develop a blockchain-based certification platform that will streamline banking. The platform, dubbed 'BankSign' is aimed at making the interactions between different banks' mobile banking solutions seamless. According to News Agency Yonhap, the users of the different banks will access their respective banking solution apps, but would use one form of verification for accessing these solutions - BankSign. The certification system will use blockchain to store passwords, patterns and fingerprints. According to a Samsung SDS statement, the security of this new system will be bolstered by the immutability of the blockchain. (KE)

2 months ago

Beijing-Based Baidu Curbs Crypto Content on Its Platforms

China-based Baidu is cracking down on crypto-related content on its platforms. According to CCN citing local reports, China’s leading internet search company is curbing discussions surrounding cryptocurrencies on its Baidu Tieba platform. Baidu is targeting sub-forums dedicated to digital- or virtual currency topics as well as search activity related to the threads. Baidu has yet to remove discussions that are specifically about leading cryptos like bitcoin and Ethereum. Baidu is the latest in a string of China-based companies to disassociate crypto from their brands, a list that extends to WeChat and Alibaba’s Alipay. (GT)

2 months ago

Tether's Influence over Bitcoin's Price Theory Debunked, Bloomberg Reports

More than $500 million in Tether (USDT) has been added to the market this month, but the bitcoin price has posted declines in the same period. As a result, Bloomberg reports that the once influential USDT coin is no longer the driver of the bitcoin price. Previously the publication pointed to USDT as an “artificial” driver of the bitcoin price, but since last year the trend has subsided. USDT’s influence over the altcoin market has similarly faded. Tether’s lack of influence could be a function of the persistent downtrend in the broader crypto market this year or a shift toward fundamentals actually fueling prices. (GT)

2 months ago

Russia Plans for Cryptocurrency Investments with Foreign Trade and Offshore Business

Russian high-ranking officials have gone creative on how to harness cryptocurrencies if and when they are finally legalized. For starters, there is a prospect of injecting capital into the newly-annexed Crimea, without the fear of being blacklisted and subjected to foreign sanctions. Secondly, businesspeople are lobbying for the creation of offshore crypto zones. One of the zones is in Kaliningrad in the western part of Russia, while the other is in Primorsky, which is the eastern part. (KE)

2 months ago

Baidu Bans Crypto Discussions on Baidu Tieba

Baidu, a Chinese search giant, has been reported to block its online forums contents related to cryptocurrencies. According to China Times, Baidu will Ban topics discussing crypto on Baidu Tieba platform. The move they said would be in compliance with the Chinese rules and regulations against cryptos and also because it was suspected that cryptos subforums distributed information on ICOs and speculations on cryptocurrencies. Reportedly, any searches on digital currency and virtual currency on the platform are unavailable and give a statement saying the forum is temporarily closed as a result of relevant laws, policies, and regulations. (VK)

2 months ago

ICO Projects Holding More Ethereum in Reserve Than Their Actual Market Valuation

A recent study has revealed that the development teams of most ICO blockchain projects are holding more Ethereum than their true market valuation. The revelation comes at a time when the price of Ethereum has been dropping substantially. Gnosis, an Ethereum-based market prediction platform, is reported to be holding about 200,000 Ether valued at $55 million in its reserve. The same trend is demonstrated by Aragon, Bancor and Tezos. Analysts have linked the trend with the weak momentum of small market cap altcoins against major cryptocurrencies. (VK)

2 months ago

Baidu, China's Search Engine Giant, to Censor Cryptocurrency Discussions on its Online Forum

Baidu, China's search giant, has joined Tencent and Alibaba in banning cryptocurrency discussions in their channels. According to China Times, a business media based in Beijing, Baidu will censure forum topics that discuss cryptocurrencies. At the moment of writing, sub-forums under 'digital currencies' and 'virtual currency' banner have disappeared from the online discussions. The move follows a high-level directive from regulatory agencies that banned international cryptocurrency purveyors from selling to the Chinese market. (KE)

2 months ago

China Gradually Suppressing the Use of Cryptos in the Country

China has in recent times seen growth in crypto interest by the citizens. It, however, is suppressing its growth, and it recently closed over 120 foreign cryptos. Websites that promote ICOs are the next government target together with crypto payment services sites. China has been reported to make clear its intention of slowing down the growth of bitcoin and other altcoins. They've gone far as banning hotels from hosting crypto conferences while discouraging the people from investing in ICOs terming them a poor investment subjected to harsh conditions like frauds. (VK)

2 months ago

Bitcoin Dominance Increases to 53.6%, with Altcoins as Top Performers

Currently, the market cap stands at $215 B with most of the coins showing recoveries. Bitcoin, on the day, has gained by 2.7% to trade at above $6700. Ethereum is just below $280. The top performers are altcoins such as Qash, Wanchain, and Substratum which have gained by over 30%, 21%, and 19% respectively. Yesterday's biggest gainer Bitcoin Diamond has declined by 13% while other top performers like CyberMiles, Cortex and Theta Token have dropped by 8%. Bitcoin dominance is increasing and currently stands at 53.6%. (VK)

2 months ago

An Online Submission Process For Creditors To Claim Their Funds Released By Mt. Gox

Mt. Gox creditors who claimed to have lost funds four years ago have recently started filing claims as they seek to recover their lost funds. For this reason, Nobuaki Kobayashi, a trustee at Mt Gox on 23rd of August, rolled out an online submission process where creditors could prove these claims for a refund. They, however, have been given a deadline (22nd October) after which they will possess no further rights to claiming the funds. This follows after being instructed by the court to do so. It has to repay the funds using the assets it possesses of BTC (166,000) and BCH(168,000) while those who deposited other cryptocurrencies besides BCH and BTC get reimbursed using cash. (VK)

2 months ago

Crypto Update: QASH, the Top Gainer - 32.21%

As of 4:41 AM UTC, about 90% of the top hundred coins were in the green. QASH was the biggest gainer after surging by 32.21% to trade at $0.231404. The other best performers were Dentacoin, Aion and Substratum which were up by 25.3%, 22.73% and 20.29% respectively. Emercoin and Bitcoin Diamond which were the best performers yesterday are worst performers having lost by 12.77% and 12.10% respectively, in a 24-hour span. (KE)

2 months ago

Blockchain Shipment Tracking System Set to be Tested by the US CBP

Yesterday, GSN reported that Customs and Border Protection is set to roll out a live test of a system for tracking shipments based on the blockchain tech. The agency will reportedly bring together separate systems; legacy application from CBP and CPB's parent body platform which is powered by blockchain in collaboration with DHS. The results of the test will be the determinant of DLT which will enhance certificates of origin verification process of Central America Free Trade Agreement and North American Free Trade Agreement while reducing the time taken for shipping data resubmission procedure. Additionally, CBP, during testing is set to come up with standards for interaction between various blockchains to ensure firms and software connect easily to customs. (KE)

2 months ago

Mt.Gox Cryptocurrency Exchanges is Accepting Creditors Claims for Lost Funds

Yesterday, numerous creditors of the long defunct Mt. Gox cryptocurrency exchange have begun filing claims for funds lost during the epic hack of what was once one of the world’s largest cryptocurrency exchanges. Mt.Gox trustee, Nobuaki Kobayashi provided a detailed online claims form that explains the process and prerequisites for creditors who must submit their claims by October 22. Kobayashi cautioned that “If proof of a claim is not filed by the deadline, then disenfranchisement might apply, so please be careful.” (RS)

2 months ago

Bitcoin Mining Company Bitmain Introduces Mandatory KYC

Bitmain, the world's largest mining company and largest chip producer based in China has introduced a mandatory KYC policy stating the reason as regulatory compliance. The new policy is said to be effective on 24th August 2018 at 00:00 UTC. Customers have to submit their personal information for buying a specific equipment, including name, address, identification type and identification number. This has triggered cryptocurrency community to speculate whether the move is related to the company’s upcoming IPO, or is related to China’s tougher stance against cryptocurrency firms. (RL)

2 months ago

PumaPay Collaborates with Pornhub to allow Crypto Payments

As per yesterday's tweet, Pornhub, based in Canada, which streams adult entertainment has joined forces with PumaPay to allow users to pay in crypto. This partnership has followed one with Verge to enable payments of Pornhub premium and its all other products with Verge. The beginning of this month saw Tube8, Pornhub subsidiary state its plans of developing a blockchain based platform which incentivizes users with crypto to watch and interact with Tube8 video. (KE)

2 months ago

ICON Foundation Partners with Certik

The ICON Foundation recently announced a strategic partnership with Certik, a smart contract auditing firm with an automated formal verification system for smart contracts. The goal of the partnership is to increase the overall security of the ICON ecosystem by allowing projects built on the platform, from token sale contracts to more complex smart contracts, to submit their SCOREs to CertiK for an automated smart contract audit. ICX is currently trading at $0.647. (JF)

2 months ago


News courtesy of berminal.com
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