Day: October 26, 2019

60% Tell Vitalik Buterin ‘No’ to Ethereum Reversing Transactions

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Ethereum co-founder Vitalik Buterin has sparked controversy among cryptocurrency users after suggesting developers could reverse transactions.  Buterin’s community feedback falls flat In a Twitter survey on Oct. 26, Buterin quizzed followers about their opinion of reversing chain activity in the event of a major hack of an exchange or similar entity.  “Suppose a popular smart contract wallet that a large portion of the ETH community uses gets hacked. This could be reverted by reverting all chain activity since the hack and doing a DAO-style HF to recover the funds,” he…

How Blockchain Can Help Doctors Take Better Care of You

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The current health care system — from its arduous processes to its lack of coherency — prevents doctors from providing patients with the best care and negatively impacts the care they already deliver. Medical professionals are burdened with attempting to coordinate health care in a system that simply isn’t designed for it. Around the world, physicians and their staff struggle to coordinate care through antiquated methods — frequently by face-to-face, fax, phone or courier — that may lead to dangerous miscommunication.  The situation in the United States serves as an…

China’s Tech Giant Tencent: Facebook Libra Threatens Digital Payment Systems Too

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The renowned Chinese internet-based technology conglomerate, Tencent Holding, joined the queue earlier in the week when it released its blockchain whitepaper for 2019 that suggests Facebook’s cryptocurrency Libra poses as much threat to the current digital payment systems as much as it does to the traditional financial world. Before now, Facebook’s forthcoming crypto coin Libra was grossly criticized for poor regulation and governance as well as its supposed pull on the traditional financial world. There are concerns that a social media platform as big as Facebook would be unstoppable with…

Bitcoin Price Hits Five-Week High Above $10,000

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Bitcoin’s price was quoted in five digits across cryptocurrency exchanges earlier today, but the breakout into $10,000 was short-lived. The number one cryptocurrency by market value jumped to $10,350 at 01:45 UTC – the highest level since Sept. 24 – according to Bitstamp data. Meanwhile, the global average price, as calculated by CoinDesk’s Bitcoin Price Index, clocked a high of $10,332. Just 24 hours ago, the cryptocurrency was reeling under bearish pressures below $7,500 and prominent chart analysts were calling a deeper drop, courtesy of the so-called “death cross” –…

China Passes First-Ever ‘Crypto Law’ Going Into Effect January 2020

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The Standing Committee of the 13th National People’s Congress in China has passed a new law regulating cryptography on Oct. 26 that will take effect on Jan. 1, 2020, reports local news outlet CCTV.  Per the report, the new regulatory framework aims to set standards for the application of cryptography and the management of passwords. The new regulatory framework establishes the role of a central cryptographic agency meant to lead public cryptographic work, creating guidelines and policies for the industry.  Implicit cryptocurrency regulation The draft of the law was published…

Wrapped Crypto Tokens, Explained | Cointelegraph

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5. Because Ethereum is the biggest DeFi ecosystem, wrapped tokens are often those hosted on other blockchains but are also stablecoins that are pegged to the dollar. Many of the first wrapped assets were, in fact, fiat-backed stablecoins, such as tokens with prices pegged to the dollar — Tether, Coinbase’s USDC or TrueUSD. There are also euro, yen, yuan and countless other fiat stablecoins that are mostly based on the Ethereum blockchain.  These are backed accordingly via the reserves, with coins fed in according to the demand of online crypto exchanges and…

Bitcoin Price Soars 42% to $10,500 — Biggest Daily Gain Since 2011

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The last 24-hours have been an absolute roller coaster for Bitcoin price (BTC). Earlier in the week, BTC swiftly dropped by 10% after failing to hold above the $8,400 support. Crypto market data daily view. Source: Coin360 By Thursday, BTC/USD was sitting on the bottom trendline of a descending wedge pattern and many investors and analysts were calling for a drop to $7,000.  A few even predicted that a revisit to the long-term support at $6,500 was on the cards. Despite the bearish bias, traders like Scott Melker and Michaël…

Bitcoin Price Back Over $10K Following 36% Gains on the Day

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  Disclaimer: This news is breaking and will be subject to updates. Oct. 26 — Bitcoin (BTC) is back above $10,000 for the first time since Sept. 22 after seeing massive gains of 36% on the day as of press time. Images courtesy of Coin 360 Currently at $10,146, Bitcoin has seen an amazing 24 hours. It had been lingering in the $7,000s range since Oct. 23.  Only 9 hours ago, Cointelegraph reported on a sudden BTC surge to $8,500. It consolidated at that point until roughly two hours ago,…

Bahamas to Release Fiat Digital Currency to Counter Cash Dependence

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The Central Bank of the Bahamas (CBOB) is planning to release its own fiat digital currency in order to ensure economies’ resilience in the event of a natural disaster. CBOB governor John Rolle made the statement during his speech at the Counsellors Limited’s Exuma Business Outlook at Sandals Emerald Bay, local news publication the Nassau Guardian reported on Oct. 25. According to Rolle, digital currency has the ability to free the country from dependency on cash — particularly useful after a natural disaster. The Project Sand Dollar The digital currency…