Day: June 4, 2019

Litecoin Hashrate Skyrockets amid Rumors of Next-Gen Miner Availability

boss

By CCN: Litecoin may not be immune to today’s crypto market sell-off, but the No. 5 cryptocurrency has been one of the leaders of 2019. In addition to the crypto market’s expanding value, the hashrate – which is a reflection of computing power dedicated to the network – has also been on the rise. Source: BitInfoCharts.com Litecoin’s Hashrate Reaches an All-Time High Once again, Litecoin has been a standout, with its hashrate achieving a new all-time high, according to Litecoin Foundation Director Franklyn Richards in a recent blog post. While…

Polish Exchange Shuts Down and Disappears With Customers Funds

boss

Polish cryptocurrency exchange Coinroom has reportedly shut down its operations and disappeared with customer funds, local business news outlet money.pl reported on May 31. Money.pl received an email from one of its readers, who stated that Coinroom —  which was registered in 2016 — ceased operations overnight and disappeared with customers’ money in April. Some users say they had up to 60,000 zloty (around $15,790) in their accounts. Before ceasing its operations, Coinroom reportedly sent emails to its customers, containing information about contract terminations. Coiroom customers had only one day…

Malaysian Securities Regulator Registers Three Cryptocurrency Exchanges

boss

The Securities Commission Malaysia (SC) has registered cryptocurrency exchanges Luno Malaysia, Sinegy Technologies and Tokenize Technology, according to a press release on June 4. Crypto exchanges are reportedly required by law to register with the SC, and the recently-approved exchanges will have up to nine months to achieve compliance with the SC’s regulation standards. In a statement shared with Cointelegraph, Luno stated that the aforementioned three exchanges are the only registered digital asset exchanges to operate in Malaysia. Luno General Manager of Southeast Asia David Low said: “We’ve been working…

Neo Announces New Consensus Mechanism For Its New Mainnet

boss

Chinese-based blockchain platform Neo has implemented a new iteration of its consensus algorithm, the Byzantine Fault Tolerance mechanism (dBFT 2.0), on its mainnet, according to a press release on June 4. The new algorithm purportedly provides immediate transaction finality. dBFT 2.0 includes a new procedure for reintegrating failed nodes back into the network, and also adds a “commit phase” of consensus, which alleviates forking issues by including a step that forces node assignment to new blocks. The consensus mechanism dBFT reportedly differs from the ones for top cryptocurrency blockchains Bitcoin…

BCH Businesses Launch Development Fund for Bitcoin Cash

boss

On May 30, the FVNI Development Society in collaboration with Bitcoin.com, Bitcoincash.org, Electron Cash, Bitcoincash.com and a multitude of individuals and businesses in China launched a new fundraiser to support the software engineers who maintain the technical development of the Bitcoin Cash network. The goal for Phase One is to raise 800 BCH by August 1, 2019, and BCH supporters can help fund development by visiting Bitcoin.com/fundraise, the front page of Bitcoincash.org and a number of other websites. Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading…

Ethereum’s Vitalik Buterin Slams Bitcoin SV: ‘Obviously a Complete Scam’

boss

By CCN: Ethereum wunderkind Vitalik Buterin maintained his hardline stance on Bitcoin SV in a recent interview, calling Craig Wright’s cryptocurrency a “complete scam.” Speaking with YouTuber Hardcore Crypto, Buterin left little room for interpretation regarding his thoughts on BSV. The Ethereum co-founder also gave his thoughts on decentralized exchanges and the worryingly centralized accumulation of power by Binance. Ethereum Co-Founder: Bitcoin SV is a ‘Complete Scam’ Ethereum creator Vitalik Buterin ripped Bitcoin SV a new one. | Source: TechCrunch/Flickr (i), CoinGeek/YouTube (ii). Image Edited by CCN. Just in case…

Bitcoin (BTC) Price Falls Below $8,000 On Panic Selling

boss

Bitcoin (BTC) is pulling lower after doubling in value following a massive surge from 2018 lows. The flagship cryptocurrency remains under immense bearish pressure after a 130% plus rally since the start of the year. Bitcoin Price Analysis A rally past the $8,000 mark had for the first time, in months, reinvigorated investor interest on cryptocurrencies, as it came after a harrowing plunge in 2018. A 14% plus drop has since taken the cryptocurrency back to the $7,700 level, waiting to see if short sellers have what it takes to…

China Leads World in Tether Trading Volumes in 2019

boss

Chinese cryptocurrency exchanges facilitate 60% of all stablecoin tether (USDT) trading globally, according to an analysis by Diar on June 3. According to the report, Chinese exchanges in 2019 thus far account for over $10 billion in USDT trading. The United States, in contrast, is said to account for only $450 million of USDT traded. Global exchange giants Binance and Bitfinex reportedly account for close to the remaining amount of Tether traded, accounting for 31% of USDT activity. Additionally, the analysis concludes that the trading numbers are not misleading. According…

Marshall Islands Form Dedicated Fund to Support Implementation of Its National Crypto

boss

The Republic of the Marshall Islands (RMI) has formed a non-profit organization to support the government in the implementation of the country’s national digital currency. The development was announced in a press release on June 4. The RMI has established the SOV Development Fund to support the government’s plan in the development and implementation of the country’s national digital currency, the Sovereign (SOV). The fund will be fully independent, with a board of seven directors, of whom two will be appointed by the government, and two nominated by SFB Technologies…

Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

boss

A blockchain-based alternative investment provider that tokenizes commercial debt is being listed on the Bloomberg Terminal, according to a news release published on June 4. Cadence is believed to be the first digital asset to obtain a Financial Instrument Global Identifier (FIGI), enabling professionals who use the Bloomberg Terminal to research its offering and execute trades. The company connects investors with businesses that need to borrow money in order to plug temporary gaps in their cash flow. On its website, Cadence says the minimum investment amount is $500, giving consumers…