Day: January 2, 2020

Read.cash Platform Rewards Content Creators With Bitcoin Cash Incentives

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Since the platform’s launch, the Bitcoin Cash-centric blogging site read.cash has gathered a lot of traction. The website’s user base publishes interesting content and new material on a daily basis with the most popular authors gathering tips in bitcoin cash for their work. Also Read: These Are the Bitcoin Stories You Loved in 2019 Read.cash Blogging Platform Leverages Peer-to-Peer Electronic Cash About a month ago, news.Bitcoin.com reported on two blogging websites that reward users in crypto for producing content. One of the platforms featured was read.cash and ever since that…

South Korea Drafting Legislation To Tax Individual Crypto Profits

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Cryptocurrency and taxation laws are creating a great deal of confusion in South Korea. On Dec. 30, South Korea’s government stated that under current law, it cannot impose income taxes on individuals’ profits from transactions of cryptocurrency. This, however, contrasts with the National Tax Service’s recent imposition of an 80 billion won ($68.9 million) tax bill on local crypto exchange Bithumb Korea. On Dec. 29, The Korea Herald reported that South Korea’s local tax agency received 80 billion won ($68.9 million) in taxes from the exchange. The following day, Choi…

Ethereum Network Overcomes Malicious New Year’s Eve Attack

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The Ethereum Network was the target of a coordinated attack in recent days, affecting client platform Parity, which threatened to cause significant downtime. Malicious Attack to Undermine Ethereum Network The attack began on December 30 when invalid blocks were sent to the network, which caused node operators using the Parity client, which handles over $50 billion USD in assets and underpins some of the most ambitious projects on the Ethereum blockchain. The invalid blocks caused the node operators using the Parity client to lose sync with the network. Sergio Demian…

Another Year of Highs and Lows for Crypto

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2019 may not go down as a year of breathtaking highs for cryptocurrency markets, but major strides have been made for mass adoption of digital payments and blockchain technology. A quick look at major headlines over the past 12 months highlight the shortcomings of the sector as well as the potential for cryptocurrencies to completely shake up the global payment system. One need look no further than social media giant Facebook announcing plans to launch its cryptocurrency Libra and digital wallet Calibra. The move sent shockwaves around the world and…

Mining Giant Bitmain May Lay Off Another 50% of Staff Before BTC Halving

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Cryptocurrency mining giant Bitmain reportedly has plans to reduce its workforce by another fifty percent. On Dec. 2, Chinese news media outlet Wushuo Blockchain reported that Bitcoin (BTC) mining rig maker Bitmain has launched a “personnel optimization plan” that will layoff a significant portion of its employees before the next BTC halving, which is expected in May. The world’s largest producer of cryptocurrency mining machines will reportedly hold an annual meeting on January 17, and it is expected that the layoffs will have been completed before that date.  People familiar…

Bitcoin Price Falls Below $7K But Bears Yet to Break Key Support Level

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Today, Bitcoin (BTC) price abruptly dropped below the $7,100 support, declining 3.35% to rest near $6,900.  For the past few days, Bitcoin price traded between $7,300 and $7,100, testing the $7,100 and $7,050 support multiple times. Therefore, for many traders, it was no surprise when the price fell below $7,100 as frequent retests of support weaken it. BTC USD 6-hour chart. Source: TradingView It’s likely that traders anticipate a bounce at $6,800 and many will watch to see if the $7,100 support flips to a point of resistance. On the…

Senior Software Developer at Ripple Quits After 6.5 Years to Focus on Coil

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Evan Schwartz, senior software developer at major crypto firm Ripple announced that he is leaving the cryptocurrency company after six and a half years. On Jan 2, the software engineer took to Twitter to announce that after working 2,328 days at the blockchain giant, today will be his last. Schwartz tweeted: “After 2328 days, or just under 6.5 years, today is my last day at @Ripple. Thank you to everyone who helped make it such an exciting ride; I’ll be cheering the team on from the outside. Keep on building…

Guangdong Blockchain Financing Platform Aims to Help Small Business

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The Guangdong government launched a blockchain-based financing platform Thursday that will help small companies in the region receive loans faster from commercial banks.  The government-led project is supported by Alibaba’s fintech arm Ant Financial and OneConnect, a subsidiary of one of the largest Chinese insurers, Ping An Insurance, according to a media report from Sina Finance.  The platform aims to streamline the process for commercial banks to lend funds to small businesses with more detailed and reliable profiles, including credit ratings, provided by its blockchain network.  The new platform could…

Ubisoft Might Be The First Major Games Company To Geek Out Over Blockchain

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It’s already well-theorized that it’s not cryptocurrency or decentralized finance apps, but gaming that will actually drive blockchain use cases in the real world. While this has moved many smaller development companies and hobbyist programmers to release their own blockchain-driven games, distributed ledger technology’s reception among mainstay gaming companies has so far largely been neutral. A new partnership between old players But that’s about to change in the wake of Ubisoft’s partnership with Ultra, a DLT-driven gaming platform that might be fairly described as Steam on the blockchain. Users can…