Day: September 26, 2018

Tierion Brings a New Proposal to Make Bitcoin a Multi-Network Cryptocurrency

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Director of research at startup Tierion -Paul Sztorc – has recently arrived with a new code called Drivechain that could drastically expand the capabilities of Bitcoin. The proposal that Bitcoin can add a vast number of features to the limited supply of cryptocurrency, has finally landed on the testnet. Note that the idea was initially conceived three years back in November 2015. Since then the proposal has gained a lot of traction and is currently considered as the best way to implement sidechains on the Bitcoin network. The sidechain concept talks about…

US SEC Seeks Sanctions Against Individuals Behind Alleged Crypto Scam PlexCoin

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The U.S. Securities and Exchange Commission (SEC) is seeking sanctions against the individuals behind the allegedly fraudulent Initial Coin Offering (ICO) known as PlexCoin, Finance Feeds reports September 26. The SEC has been involved in ongoing court proceedings against the owners of the associated firm PlexCorps — Dominic Lacroix and Sabrina Paradis-Royer — at the New York Eastern District Court since December 2017. The SEC’s initial complaint had charged the pair with violating securities law in respect to PlexCorps’ PlexCoin ICO in August 2017. The complaint had accused Lacroix —…

Circle Internet Financial Launches Stablecoin ‘USD Coin’

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Circle Internet Financial Ltd. is launching a USD-backed digital token dubbed the “USD Coin,” Bloomberg reports Wednesday, September 26. A consortium called Centre — which includes Bitmain Technologies Ltd. among its members — will act as a platform for deposits and fiat conversions for the stablecoin. Bloomberg notes that although Centre is a “wholly owned subsidiary of Circle,” there are plans in plan to turn it into an independent organization. The USD Coin will reportedly be available on Circle’s Poloniex exchange, as well as Huobi, OKCoin, KuCoin, and digital wallet…

UK-Based Crypto Platform Launches $1.45 Million Crowdfund Campaign to Bank the Unbanked

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Nebeus, the London-based crypto platform, has launched a 1.1 million pound ($1.45 million) crowdfunding campaign as they set out their ambitious goal of bringing financial services to people around the world. According to the World Bank, there are 1.7 billion adults globally who remain unbanked, yet two-thirds of them own a mobile phone that they could use for online banking. The Nebeus’ campaign went live on Sept. 24, 2018 and has already attracted more than 400,000 pounds ($527,490). The goals of the campaign Backed by industry expert Brett King, the…

Ripple Briefly Overtakes Ethereum Again to Become Largest Altcoin By Market Cap

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Ripple (XRP) has briefly surpassed the market cap of Ethereum (ETH) for the second time in a week Wednesday, September 26, once again temporarily becoming the second largest cryptocurrency by market cap. Data from CoinMarketCap shows that XRP is now again ranked third with gains of 22 percent over a 24 hour period, with ETH in the second highest spot for market cap with gains around 3 percent by press time. XRP last outperformed ETH on September 21, only to lose its number two spot shortly afterwards as both assets…

French Stock Market Watchdog Blacklists 21 Cryptocurrency and Crypto-Asset Websites

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French stock market regulator, the Autorite des Marches Financiers (AMF), announced it is blacklisting 21 new investment websites, including multiple crypto-related sites, September 26. The AMF characterizes the new additions as “unauthorized websites” that offer “atypical investments,” and directs users to its existing blacklist, which it notes is “not comprehensive.” In March, the AMF had added 15 websites — including those related to crypto and crypto-assets — to its blacklist, reminding consumers that “no advertising materials should make you overlook the fact that high returns always involve high risk.” Cointelegraph…

JPMorgan’s Ethereum-Based Blockchain Payments Trial Adds 75 Banks

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A blockchain payments trial jointly launched by a trio of banks led by JPMorgan has roped in 75 new banks globally for seamless and faster interbank settlements. First deployed by JPMorgan in October 2017, the Interbank Information Network began as a blockchain experiment to minimize the participants and friction typically involved in a global payments transaction. The blockchain is developed using Quorum, an Ethereum-based private blockchain developed by JPMorgan in partnership with development studio EthLab. As CCN reported at the time, JPMorgan’s blockchain foray took shape nearly to the day…

Crypto Startup LedgerX Eyes Ethereum Options, Awaiting CFTC Approval

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In spite of the ever-tumultuous market, crypto investment services providers have continued to eye the expansion of their product lineup in a bid to entice prospective investors to allocate capital to this space. LedgerX Ethereum Options Are On Their Way Frank Chaparro, who has gained recognition for his crypto-focused Business Insider pieces, recently revealed that LedgerX, a leading New York-based cryptocurrency infrastructure firm, intends to introduce an Ethereum investment vehicle in the near future. Citing sources familiar with the firm’s business, Chaparro explained that the startup, which currently offers mostly Bitcoin-focused products…

Australian Blockchain Test on Amazon Cloud Reaches 30,000 Transactions per Second

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A blockchain system developed by Australia’s national science agency (CSIRO) and Sydney University claims to have set a benchmark of 30,000 transactions per second during a test on Amazon Cloud, according to CSIRO’s Tuesday, September 25 press release. The technology arm of CSIRO, Data61, and the Concurrent Systems Research Group at the University of Sydney created Red Belly Blockchain as a “graduate” from CSIRO’s Pre-accelerator program ON prime. CSIRO and the Concurrent Systems Research Group announced the first outcome of its experiment held on Amazon Web Services (AWS) cloud infrastructure.…

Monero Patches Vulnerability Bug | CCG

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After a vulnerability has been spotted in Monero’s ecosystem, users reported it to the company. As a response to the situation, Monero developing team patched the bug that reportedly allowed hackers to “burn” the funds of the company’s cryptocurrency wallet.  The developers of an open-source cryptocurrency Monero (XMR) reportedly fixed a bug that could allow an attacker to “burn” the funds of the company’s wallet while only losing network transaction fees.  What is the “Burning Bug”? According to the statement from the cryptocurrency company, the bug has been reportedly discovered after a community…