Day: November 4, 2018

Op-Ed: November Is Here – Will Bitcoin Repeat Its 2015 Behavior?

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With the end of 2018 right around the corner, many enthusiasts and traders alike are probably asking themselves a lot of questions, the biggest one likely being, “What will happen to bitcoin within the next 60 days?” Out with the Old, In with the New Since 2015, we’ve witnessed several price explosions for bitcoin during the final months of each year. In 2017, for example, December marked a time when bitcoin reached an all-time high of nearly $20,000. In 2016, bitcoin shot up to nearly $1,000, which was considered a…

Bank of America Has the Most Blockchain Patents, But Is It Actually Going to Use Them?

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On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field. The second-largest bank in the US has been leading in the informal blockchain patent race, sidestepping such players as IBM and Alibaba. However, that does not mean that BofA is being bullish — the company has been publicly criticizing cryptocurrencies, relying on patents mostly to appear progressive in the fintech community. Brief history of BofA’s filing crypto-related patents The bank filed its first blockchain-related patent…

Expert Says EOS isn’t a Blockchain — Just a Distributed Database

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Twitter Facebook LinkedIn Blockchain testing and research company Whiteblock Inc. has released a damning verdict on EOS, describing it as a “distributed homogeneous database” masquerading as a blockchain. In a report titled “EOS: An Architectural, Performance and Economic Analysis,” the company dissects several aspects of the EOS protocol and comes to the conclusion that it suffers from a serious security deficiency as well as network performance that is significantly lower than what was claimed. Extraordinary Findings According to the report compiled by Whiteblock’s research team made up of Brent Xu,…

Expert Says EOS isn’t a Blockchain — Just a Distributed Database

boss

Twitter Facebook LinkedIn Blockchain testing and research company Whiteblock Inc. has released a damning verdict on EOS, describing it as a “distributed homogeneous database” masquerading as a blockchain. In a report titled “EOS: An Architectural, Performance and Economic Analysis,” the company dissects several aspects of the EOS protocol and comes to the conclusion that it suffers from a serious security deficiency as well as network performance that is significantly lower than what was claimed. Extraordinary Findings According to the report compiled by Whiteblock’s research team made up of Brent Xu,…

Stablecoin? USD-Backed Crypto Token Tether Falls 5% [Again]

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Twitter Facebook LinkedIn Tether, or USDT, is supposed to remain “tethered” to the US Dollar, as its name implies. That’s its whole purpose as a token: it exists on exchanges as a way for traders get their profits to safety, in a sense, so they have some idea of the real fiat value of their portfolio. It was originally created by Brock Pierce, former actor and current crypto entrepreneur, and some other venture capitalists and first launched on major fiat-crypto exchange Bitfinex. At present, it is used on nearly every…

IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations

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Major global tech giant IBM has applied for another blockchain patent, this time aiming to deter augmented reality (AR) game players from intruding on undesirable locations. The tech firm’s latest patent document was released by the U.S. Patent and Trademark Office (USPTO) on Thursday, Nov. 1. In the patent, IBM, also known as Big Blue, describes a blockchain-based method and system of interactions between a AR-running mobile device and locational database in order to set and maintain safe boundaries between AR objects and real-world physical locations. According to the document,…

Why Blockchains Struggle to Gain Traction in Enterprises

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Paul Brody is EY’s global innovation leader for blockchain. The views expressed are his own. The Y2K program (does anyone remember that?) came about because software developers assumed, in the early days of computing, that newer, better enterprise systems would come along very soon and that their efficient two-digit date systems would be replaced long before the year 2000 came along. There were very few CIOs in those days, and many of them would have carefully explained to those efficient software developers that if something isn’t broken, don’t fix it,…

Builders on Wall Street: Bitcoin Devs Host Lightning Hack Day

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It was described as “not a normal conference.” Sure, speakers took to the podium to present their futuristic ideas – a staple at the cryptocurrency space’s many, many conferences. But the Lightning Hackday, which took place in the heart of Wall Street on October 27th and 28th, was all-in-all more of a community-led endeavor with a heavy coding twist. Throughout the two-day event, a hackathon whirred in the background. Tiny computers called Raspberry Pis dotted the tables and developers murmured amongst themselves about how to tweak the rules of the…

Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

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Twitter Facebook LinkedIn Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time of this writing — has persuaded a successful breakout action, breaking the cap mentioned above and forming new intraday highs towards 6464-fiat. At the same time, CoinMarketCap.com is showing a massive drop…

Milestones of ConsenSys-Led Ethereum Tools: Truffle, Infura, MetaMask

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Twitter Facebook LinkedIn Ethereum co-creator Joseph Lubin-led ConsenSys, the largest blockchain software development firm in the world based in New York, has created three of the most widely utilized Ethereum products over the last several years. To many new cryptocurrency users and investors, ConsenSys, which houses nearly 1,000 developers, is unrecognized. But, day-to-day users of various blockchain projects are well versed in the work ConsenSys has done to improve the infrastructure of the blockchain ecosystem. At DevCon hosted in Prague, Czech Republic, ConsenSys founder Joseph Lubin presented the world’s most…