Day: September 13, 2018

Vault Launches Crypto Collectibles Wallet on Apple’s App Store

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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. Co-founder John Egan told CoinDesk that the company is looking to make it easier for new users unfamiliar with blockchain to purchase these collectibles and hold them. An issue with many current wallets and other tools, he said, is that they are focused on developers, rather than casual users. Decentralized apps (dapps) are one area he sees drawing potential new users into the space. “The motivation here is no…

A New Line of Powerful ASIC Miners Is Coming to Ethereum

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A chip designer with extensive experience in developing bitcoin mining devices is turning her sights on the ethereum protocol. 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…

Landmark Crypto Crime Case Ends With Jail Sentence for GAW CEO

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Josh Garza, the CEO of the now-defunct cryptocurrency mining company GAW Miners, has been sentenced to 21 months in prison after pleading guilty to a wire fraud charge. As part of the sentence, Garza was given 6 months home confinement and three years of supervised release overall. The court proceedings, which took place on a cloudy day in Hartford, Connecticut, saw several customers of the disgraced company read statements about their experiences with GAW. Garza himself gave a courtroom statement prior to the sentencing and expressed remorse about his actions.…

ConsenSys Exec. Predicted Ethereum Price Would Hit $2,000 in 2018

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The unfortunate side effect of making specific predictions about future events is that you eventually have to measure your claims against reality. For cryptocurrency bulls who made 2018 price targets in December and early January, that reckoning is rapidly approaching, and one such price prediction has been making the rounds on social media this week. Revisiting One Ethereum Bull’s ‘Flippening’ Call On Jan. 2, ConsenSys Capital co-founder Andrew Keys rang in the new year with an article titled “18 Blockchain Predictions for 2018.” Like many cryptocurrency analysts at the time,…

Blockchain Could Bring $1.1 Trillion in New Global Trade, Says WEF

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A new report from the World Economic Forum has high hopes for blockchain with revenue growth predicted to be over $1 trillion in world trade. The white paper published in June examines supply chain management and the enormous role that blockchain will play in the near future, particularly with SMEs (small or medium-sized businesses). The Asian Development Bank estimates that there is a $1.5 trillion trade gap/trade deficit which is projected to increase to $2.4 trillion by 2025. The gap is largely due to smaller businesses having insufficient access to…

Ethereum Soars 18% Back over $200, Bitcoin Regains $6,500 Mark

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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 Coin360 shows. Market visualization by Coin360 Ethereum has skyrocketed almost 20 percent on the day to trade at $207 at press time. After accelerated losses yesterday, September 12, saw the top alt sink below the $170 mark to…

Back Over $200 Billion: 3 Reasons Crypto Prices Are Heading Higher

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The cryptocurrency market has been making history for all the wrong reasons as of late, most notably by recently surpassing the plunge of the infamous Dot-Com bubble in the early 2000’s. With that said, cryptocurrencies tend to make recoveries when all hope is seemingly lost, and today’s price action of the world’s second largest cryptocurrency, ether and many others is no exception. At press time, several of the top 10 cryptocurrencies by market capitalization are reporting 24-hour gains above 10 percent, including monero (XMR), litecoin (LTC), and EOS. Ether (ETH)…

How licensing affects the adoption curve of a blockchain project

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Each blockchain has its own rules of how the code can be distributed, shared, or how developers can interact with it. These rules are defined in open source licenses (OSS). In what so many blockchain projects take for granted, licensing affects the adoption curve of a blockchain project for enterprise users. Bitcoin and ethereum blockchains utilize open source licenses although not of the same type. Other major blockchain projects such as Hyperledger have a set of these OSSs in place. Categories of Open Source Licenses There are only two types…

A Brief Review of Consensus Protocols

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Although the blockchain and crypto communities remain united around the ideology of blockchain and its world-changing potential, there is still one issue which proves to be as divisive as a hard fork — consensus protocols. Although proof-of-work (PoW) is still the protocol of choice for Bitcoin and many others, the debate rages over proof-of-stake (PoS), along with other emerging consensus protocols. Proof-of-work (PoW) The granddaddy of consensus protocols and the brainchild of Satoshi, the proof-of-work protocol involves block miners solving complex cryptographic puzzles, for which they receive rewards in the form…

Blockchain Security Co. BitGo Gets Regulator’s Green Light to Become Crypto Custodian

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American crypto wallet and blockchain security firm BitGo has received a state trust company charter from the South Dakota Division of Banking, making it a qualified custodian for crypto, CNBC reports September 13. By creating its trust company, California-based BitGo will now be subject to regulatory scrutiny that encompasses know-your-customer (KYC) and anti-money-laundering (AML) checks and the filing of financial audits and monthly disclosures. As it launches its regulated crypto custody offering, BitGo co-founder and CEO Mike Belshe told CNBC that: “This is the missing piece for infrastructure — it’s…