Day: September 16, 2018

DBA Project: A user-driven accelerator for global blockchain startups

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At the Wanxiang Global Blockchain Summit 2018 in Shanghai on Sep 11th, Vitalik Buterin, co-founder of Ethereum, presented his view of the relationship between mechanism credibility and blockchain.  Unlike his usual keynotes which mainly focused on the underlying technology behind public blockchains, he focuses on practicality of the even more complex socio-economic functions of blockchain and the corresponding challenges. Vitalik states the best mechanism “tries to allocate best resources for those with the most need, whether it is projects, governments, or companies.” Some examples of mechanisms are voting, auctions, markets, and exchanges (including decentralized…

Crypto Markets See Mixed Signals as Total Market Cap Holds Position

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Sunday, September 16: crypto markets have seen a mix of red and green today, with some small fluctuations and total market cap holding position. Market visualization from Coin360 Bitcoin (BTC) is negligibly up on the day, and trading at around $6,504 at press time. The major cryptocurrency is holding weekly gains, up about 5.1 percent over the past 7 days. Bitcoin weekly price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is seeing small gains, up around 1 percent over the past 24 hours. The top altcoin is trading at…

Ethereum Wallet Targeted by More Hackers than Fortune 500 Banks

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Popular Ethereum wallet MyEtherWallet (MEW) has recorded more attempted attacks by hackers than Fortune 500 banks, according to reports from leading cybersecurity firm Segasec. Segasec has been responsible for defending MEW from malicious attacks. Such attempted attacks don’t come as a surprise, knowing the amount of valuable Ethereum tokens accessed through the MEW platform. As a matter of fact, users are always confronted with a conspicuous message on the platform’s homepage advising them on how to keep their wallets safe. An Exceptional Scenario Beyond the basic security measures that are…

Binance to Start Closed Beta Testing of New Crypto-Fiat Exchange in Singapore

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Binance, the largest global crypto exchange, will soon start private beta testing a crypto-fiat exchange in Singapore, as Binance co-founder and CEO Changpeng Zhao (CZ) tweeted on September 15. As Changpeng Zhao revealed, the testing will be launched on September 18: “I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!” According to Finance Magnates, prior to posting the news on Twitter, CZ first revealed the plans to launch the fiat exchange while speaking…

Ethereum co-founder Invested in Bitcoin at $1 in 2011, What’s Changed?

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Charles Hoskinson, the co-founder of Ethereum and Cardano, entered the cryptocurrency sector when Bitcoin was valued at just over $1. Since then, the infrastructure supporting the market and blockchain systems has changed drastically, at an exponential rate. Bitcoin price in 2011, chart provided by 99Bitcoins In an interview with Mpho Dagada, Hoskinson, the CEO of IOHK, a technology company that leads the development of Cardano (ADA) and Ethereum Classic (ETC), said that he first engaged in the cryptocurrency sector by mining Bitcoin in 2011, when the dominant cryptocurrency was worth…

Moscow seeks to provide special status to cryptocurrencies as secret crypto exchanges flourish

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With the special features manifested in digital currencies, they need to be regulated differently. This is the view that the RUIE has and is seeking to provide special status to cryptocurrencies. The Russian Union of Industrialists and Entrepreneurs (RUIE) has taken a step further towards the realization of this dream and has drafted new rules meant to “afford special legal status to cryptocurrencies,” as reported by Chepicap. More than just giving special status to virtual currencies, the draft rules are likely to shift the whole view of how an Initial…

Gemini Custodian is Able to Alter or Reverse Gemini Dollar Transactions

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The implementation of the recently launched Gemini dollar (GUSD) stablecoin can be completely changed by a Gemini custodian every 48 hours, according to a study authored by blockchain researcher Alex Lebed and crypto consultant Alexey Akhunov, published on Medium on September 11. In the research, the authors review the code of the GUSD’s smart contract in order to demonstrate that the implementation of the Gemini USD can become non-transferrable or frozen at any moment, which is noted in the Gemini dollar’s white paper. The option of pausing, blocking, or reversing…

Bitcoin Magazine’s Week in Review: Making Strides Across Industries

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Industry buzz surrounded Ethereum this week as community members await the next stage of the coin’s development. The protocol also served as the jumping-off point for a new fully regulated stablecoin. Also in regulation, a New York judge issued a ruling this week that, if held up by a jury in court, could set a legal precedent for ICOs as securities; in other courtroom drama, the space’s longest running suit — between two of its biggest players — draws to an undisclosed close. All the while, institutional-grade products and services…

State of the cryptocurrency market and what to expect in the near future

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The current state of the cryptocurrency market is quite unpredictable with a number of coins in the green, but most have lost significantly in the past 3 days.  On Thursday, the market saw a strong rebound off its weekly lows, with many cryptocurrencies posting a gain of 5% at the very least. However, bears took over the market and we can only expect the best in the near future. There was a minor pullback last week in crypto markets. However, things have not been that good over the weekend and…

Return of the Chaum: Examining the Digital Cash OG’s MixxChain

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Return of the Chaum: Examining the Digital Cash OG’s MixxChain September 16, 2018 by William Peaster Inventor. Godfather. OG. However you put it, David Chaum was a vanguard pioneer in digital cash. Interestingly, then, Chaum’s making a re-entrance in the arena as his MixxLabs team has developed a new privacy play, MixxChain. Some have already cast skepticism toward the project, but the verdict’s still out for now. Also see: CTOR, Huh? Yeah! What Is It Good For? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts From DigiCash…