August 11, 2019

Bitcoin Trades Sideways as Major Altcoins Enjoy Sizeable Gains

August 11, 2019 boss

Sunday, Aug. 11 — It is a largely green picture across the top-20 cryptocurrencies. While Bitcoin (BTC) has remained flat overall, altcoins have enjoyed some sizeable gains, with some rising over 9% on the day Market visualization courtesy of Coin360 Bitcoin’s price was down a fraction at press time, losing 0.61% to trade at $11,352, according to Coin360. BTC’s value has tumbled by more than $500 in the past 24 hours — struggling to recover from a sudden $400 drop in the space of just five minutes on Saturday. Prices have remained…

Bitcoin Mining Industry’s Exponential Growth Just Won’t Stop

August 11, 2019 boss

A decade ago when Satoshi Nakamoto unleashed the Bitcoin network, the security behind the protocol was guarded by only a few miners. These days, mining the SHA-256 algorithm has become a thriving industry that hasn’t stopped growing. Also Read: Exploring the SLP Token Universe Built on the Bitcoin Cash Chain Bitcoin Mining Pools and ASICs Change the Game Every waking second of the day, bitcoin miners are crunching numbers, humming away in facilities that few people who use the network have ever seen. Miners from large facilities who form giant…

Bitcoin Mining Industry’s Exponential Growth Just Won’t Stop

August 11, 2019 boss

What Are Crypto Banks and How Do They Work?

August 11, 2019 boss

Bitcoin once promised that it would help realize the lofty goal of making individuals “their own bank.” To understand the many services that banks truly provide is also to realize how preposterous this claim was in 2008, when Bitcoin’s white paper made it. More than a decade later, the grandfather cryptocurrency is still on the peripheries of traditional finance, yet the decentralized industry that it has spawned can indeed replicate many financial services on the blockchain, all of which were formerly exclusively in the realm of banks. Is DeFi banking?…

Tech Behemoth IBM Files for a Blockchain-Enabled Web Browser Patent

August 11, 2019 boss

American technology behemoth IBM has filed with the United States Patent and Trademark Office for a blockchain-enabled web browser patent. According to a patent application published on Aug. 6, IBM has filed a patent application for a system that stores web browser events on a blockchain. The browser described in the filing collects information during web browsing sessions and transfers it to peers in a peer-to-peer network for on-chain storage of the in-browser events. Examples of data that could be stored on chain include: visited websites, bookmarks, search terms, cookies,…

Litecoin Founder Charlie Lee Addresses Project Abandonment Allegations

August 11, 2019 boss

Litecoin (LTC) founder Charlie Lee has addressed recent project abandonment allegations. In a series of tweets published on Aug. 10, Litecoin founder Charlie Lee addressed allegations that Litecoin did not have further plans for the coming year: “Recently there’s been a lot of FUD about Litecoin having no code commits in 2019. When you look at Litecoin GitHub, it would seem like we did no work in 2019. There are actually 2 reasons why this is the case even though we have been developing.” The first reason Lee provided for…

Analysts: Global Instability to Drive Investors to Bitcoin and Crypto Investments

August 11, 2019 boss

Amid the US-China trade war and the prospect of a no-deal Brexit, many investors and financial experts believe that Bitcoin(BTC)trade and other cryptocurrencies could be an ideal vehicle in which to park their money. Bitcoin too has witnessed unprecedented growth since the beginning of the year and some crypto analysts believe that Bitcoin could go all out and hit record highs in upcoming months. According to prominent analysts, if Britain leaves the EU without a trade deal, it could drive Bitcoin and other cryptocurrencies significantly higher. Possibilities of a no-deal…

What Do Companies’ 10-K Reports Say About DLT?

August 11, 2019 boss

How seriously are American corporations committed to blockchain technologies? Are blockchain technologies materially significant yet? One place to find the answers to these questions is Form 10-K, a report the United States Securities and Exchange Commission (SEC) requires corporations to file annually. Some of the information a company is required to disclose in the 10-K includes details on the nature of its business, risk factors, financial data, organizational structure, subsidiaries, and management’s discussion and analysis about the financial and operational results. Because it is regulated by the SEC, audited by…

New Jersey Bill Commissions Blockchain Task Force to Study the Technology

August 11, 2019 boss

Governor Phil Murphy of New Jersey has signed bill S2297, the Blockchain Initiative Task Force, into law this Friday. This new legislation puts New Jersey on the clear path to more blockchain adoption and innovation. The bill commissions the Blockchain Initiative Task Force to study the potential use-cases of the technology on local and state level. The bill specifically points out medical records, land records, banking, and property auctions as potential applications. Furthermore, the Task Force will be responsible for reporting on the risks and rewards of distributed ledger technology…

IDC Report: Blockchain Solutions to Become $16 Billion Industry by 2023

August 11, 2019 boss

A new report published on Aug. 8 by United States-based market research firm International Data Corporation (IDC) claims that based on its research, spending on blockchain solutions will increase to $15.9 billion by 2023. This projection puts blockchain’s five-year compound annual growth rate (CAGR) at 60.2% between 2018-2023. IDC Worldwide Blockchain Strategies Research Director James Wester has said that even though there’s still a lot of uncertainty regarding blockchain regulation, the enterprise adoption of blockchain has continued to grow. Wester stated: “The adoption of blockchain for financial services, identity, trade,…