Month: July 2018

Online Monero Wallet to Mitigate Security Risks by Fixing Flaws Uncovered in Audit

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The Monero web wallet says it has undergone a successful security review by an independent provider, with analysts concluding “a number of potential vulnerabilities” have now been fixed, with their risks mitigated. XMRWallet’s infrastructure was audited by New Alchemy, a blockchain strategy and technology advisory group. During its tests in June 2018, the application’s web traffic and user interface were inspected, all with the aim of uncovering security flaws that could affect trustworthiness. In its report, New Alchemy concluded: “The XMRWallet application exhibits a high-quality user experience, a modern development…

Prominent Investors Bullish on Bitcoin Reaching $8,100 With Strong Volume

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Large-scale hedge fund operators, cryptocurrency traders, experts, and exchange operators have expressed their enthusiasm towards the short-term rally of bitcoin. Experts React On July 24, the price of BTC surpassed a major resistance level at $8,000, reaching $8,300 within a matter of hours. The daily peak of bitcoin was established at $8,363, but the dominant cryptocurrency has fallen to $8,160 since then. The sudden surge in the price of BTC was triggered by a massive increase in its daily trading volume, which has increased from $3 billion to $6.8 billion…

US SEC Delays Decision on Direxion Bitcoin ETF Until September

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Investment firm Direxion has had the review of its Bitcoin exchange-traded fund (ETF) application postponed until September 21. The news about the delay comes from an official document released by the U.S. Government Publishing Office July 24. An announcement from the U.S. Securities and Exchange Commission (SEC) said it was “appropriate” to delay its decision, which only affects Direxion’s offering. “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to…

Bitcoin’s Price Is Nearing $10K On a Single, Troubled Exchange

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Cryptocurrency exchange WEX continues to see prices well out of step with the broader market amid a near-total freeze on customer withdrawals. As CoinDesk reported, customers of WEX – a kind of successor to the now-defunct cryptocurrency exchange BTC-e – have been on tenterhooks since July 12, as they’ve largely been unable to get outbound payments processed. The only exceptions have been for the crypto assets tether and zcash (along with lower-volume, lesser-known alternatives like namecoin and novacoin) and the price disparities suggest that some WEX users are utilizing these…

Singapore Airlines Launches Blockchain-Based Loyalty Wallet, Co-Developed by Microsoft

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Singapore Airlines (SIA) has launched its own airline loyalty digital wallet that uses blockchain technology, it announced July 24. The software has been co-developed by Microsoft and KPMG Digital Village, according to the press release. The new wallet — dubbed ‘KrisPay’ after SIA’s ‘KrisFlyer’ loyalty programme — converts frequent flyer miles into digitized ‘KrisPay miles’ that can be used to pay for retail purchases via a mobile app. As minimum expenditure, users of the wallet can spend 15 KrisPay miles (equivalent to about  S$0.10, or US$0.73) to make or offset…

Gibraltar Stock Exchange’s Blockchain Platform Opens to Public Trading

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The UK Overseas Territory of Gibraltar launched its Gibraltar Blockchain Exchange (GBX) July 23, a press release confirmed, opening up cryptocurrency trading. The GBX was first announced by the Gibraltar Stock Exchange at BlockShow Asia conference in November 2017 GBX, which will ultimately function as a multifaceted ICO and trading ecosystem, currently offers three crypto-to-fiat pairs: Bitcoin (BTC), Ethereum (ETH) and its own Rock (RKT) token to USD. CEO Nick Cowan commented in the release: “The launch comes at a time when the cryptocurrency and token markets are reaching a…

ConsenSys Signs MoU With China’s ‘Smart City’ of Xiongan for Blockchain Consulting

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China’s Xiongan New Area government has signed a Memorandum of Understanding (MoU) with ConsenSys to bring blockchain technology to the “smart city,” the South China Morning Post reported July 23. ConsenSys, a blockchain software technology company focusing on Ethereum (ETH) development, has confirmed they will advise the Xiongan government on blockchain and software solutions in order to establish it as a “next generation smart city [and] leading blockchain innovation hub,”according to the (MoU) signed in Beijing. In April 2017, Chinese president Xi Jinping announced plans to build Xiongan as a…

South Korean Mobile Telecom Giant Launches 2,500 Txns/s Commercial Blockchain

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KT Corp may only be the second-biggest mobile carrier in South Korea, but the telecommunications firm is reportedly the first in the world to launch a blockchain-based commercial network. According to The Korea Herald, KT Corp’s blockchain network will initially have the capacity to handle 2,500 transactions per second. Before the end of 2018, however, the capacity will have been quadrupled. By the end of next year, KT Corp intends to have increased the number of transactions per second to 100,000, according to the head of Blockchain Center at the…

TRON Acquires Major P2P Platform Operator BitTorrent

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TRON’s long-rumoured acquisition of BitTorrent Inc., the operator of popular torrent client uTorrent, has been confirmed by TRON founder Justin Sun in a community letter published July 24. The BitTorrent protocol launched in 2001 and relies on distributed “seeding’” by users who upload shareable content. In his letter, Sun celebrates the software as “the genesis of the decentralization movement,” a legacy protocol for the blockchain revolution, noting “Bittorrent is […] the first decentralized Internet protocol with large-scale global application, [which] even today [… ] retains its status as the world’s…

China Now Downplaying Blockchain Could Be Social Construct to Build It Up

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China has led the way in terms of harsh regulations to quash cryptocurrencies like Bitcoin. They were the first country to institute blanket bans on ICOs and exchanges, and have never taken to the decentralized and liberal freedoms that comes from cryptocurrencies. However, that does not mean that China is opposed to the potential revolutionary technology that comes from cryptocurrencies and their underlying base — blockchain. In fact, China is building toward being a nation that separates the decentralized cryptocurrencies from the underlying blockchain. But, in the latest calls from…