Day: August 9, 2018

Blockchain Startup Enables Litecoin Transactions via Telegram Messenger

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Litecoin (LTC) transactions are now available via encrypted messenger app Telegram, Litecoin founder Charlie Lee tweeted today, Aug. 9. A bear market is the best time for people to work on adoption. Check out https://t.co/Ua8LQz9f4h. Send and recieve LTC on telegram. Eventually, it will support SMS also. Great work @ztxrepublic team! ? We build it and they will come. Adoption is key! — Charlie Lee [LTC⚡] (@SatoshiLite) August 9, 2018 The new Litecoin feature Lite.im was developed by blockchain startup Zulu Republic. Based in Zug, Switzerland, the firm develops decentralized…

Can Crypto Exchanges Be Trusted With Hard Forks?

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On July 31, a Chinese Bitcoin investor sued local crypto exchange OKCoin for allegedly blocking him from getting his Bitcoin Cash (BCH) after the Bitcoin fork.   While the case is new for China, compilations regarding hard forks and exchanges have been amassing since perhaps as early as the DAO incident in 2016. So what happens when you have a coin that is about to be split into two, but you’re holding it on an exchange’s hot wallet? What’s a hard fork? Essentially, a hard fork is a change to the…

Binance Releases Demo of Decentralized Exchange

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The CEO of cryptocurrency trading platform Binance Changpeng Zhao announced a demo of the platform’s decentralized exchange in a tweet today, Aug. 9. In a six-minute video attached to the tweet, Zhao presented a “casual, early, pre-offer”  demo of the decentralized exchange. The CEO said not “to expect too much” for now, adding that it currently does not have a graphical user interface: A first (rough, pre-alpha) demo of the Binance Decentralized Exchange (DEX), showing issuing, listing and trading of tokens. All cli based, no GUI yet. A small step…

China’s IT Ministry Considering Strategy for Advancing Blockchain Development

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The Chinese Ministry of Industry and Information Technology (MIIT) is reportedly considering ways to accelerate blockchain adoption, local news agency Xinhua reports Aug. 9. According to the report, the MIIT has proposed a number of measures to speed up the promotion of blockchain applications in the country in a move to provide a “healthy and orderly development of the industry.” The ministry stated that the blockchain tech ecosystem is currently in its initial stage. The MIIT intends to provide a gradual extension of blockchain applications from the financial sector to…

Bank of China CIO Says Bank to Increase Investments in Blockchain, Fintech

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The commercial, state-run Bank of China, not to be confused with the People’s Bank of China, announced its plans to invest further in fintech innovation, according to local news outlet The Paper August 9. Citing comments at a press conference on the banking industry, The Paper reports that the Bank of China’s Chief Information Officer (CIO), Liu Qiuwan, has revealed plans to increase the company’s investments in research and development technologies such as blockchain, the Internet of Things (IoT), and fintech. Investment in the technologies will reportedly be more than…

Investors ‘Overreacting’ to ETF Delay, Should Focus on Bullish News

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Pantera Capital CEO Dan Morehead claimed that crypto markets are reflecting some overreaction from investors recently, in comments to CNBC August 8. Speaking in an interview on CNBC’s “Fast Money,” Morehead suggested that investors have exaggerated the importance of the U.S. Securities and Exchange Commission (SEC) recent delay on their decision regarding a Bitcoin (BTC) Exchange-Traded Fund (ETF). As per Morehead, crypto investors should instead focus on more bullish events in the market, such as the announcement of upcoming cryptocurrency project Bakkt by the Intercontinental Exchange (ICE). The ICE, which operates…

Bitcoin Price Intraday Analysis: BTCUSD Bull Pennant Formation

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The Bitcoin price regained some of its lost value on Thursday following a small but noteworthy correction. The BTC/USD pair yesterday established a new intraday low at 6131-fiat, a level that attracted buyers waiting to buy the dip, and has gained as much as 7% value ever since. The early Asian trading hours today witnessed a weak upside momentum, due to which price dropped towards 6181-fiat. However, in the mid-European session, the BTC/USD formed a bull flag following a sudden influx of buying orders. The pair gained 6 percent during…

After a Catastrophic Week, Crypto Markets Rally Forth Into the Green

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August 9: The summer crypto rollercoaster continues, as the market sees a healthy rebound into the green after sustaining major losses yesterday. On August 8  total market capitalization had shrunk to $219 billion –– its lowest level since mid-November 2017. In today’s upward bounce, virtually all of the major cryptocurrencies have posted gains, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading at a solid $6,500 at press time, up around 3.2 percent on the day. The leading cryptocurrency shot up around $300 within the space…

Binance Offers First Look At Planned Decentralized Crypto Exchange

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Cryptocurrency exchange Binance unveiled the platform’s first look at its upcoming decentralized exchange (DEX) on Thursday. Binance, one of the world’s largest cryptocurrency exchanges by trading volume, announced back in March that it plans to launch a new public blockchain for the purposes of developing the Binance Chain, a platform to transfer and trade different crypto assets without a centralized operator. This week, CEO Changpeng Zhao provided the first demonstration of the Binance Decentralized Exchange and the Binance Chain. “Today, I have something really exciting to share with you guys. This…

South Korea’s Science Ministry Announces Six-Month Blockchain Youth Training Initiative

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The South Korean government is set to launch a program dedicated to fostering young talent in emerging areas including blockchain on August 10, a press release confirmed today, August 9. The 2018 Innovative Growing Youth Talent Concentration Project is the second installment of the initiative following a successful inaugural round, which ran June 11 through July 10. It is hosted by the Korean Ministry of Science and ICT and the Institute for Information and Communications Technology Promotion. Participants will receive a six-month training course covering applications of blockchain and other…