Charles Hoskinson, co-founder and CEO of IOHK, the blockchain firm behind Cardano (ADA), said that he expects the coin to see a hard fork in mid-February. During a livestream on Jan. 17, Hoskinson noted that he expects Cardano’s consensus algorithm to be upgraded with a hard fork next month. He said that he has “pretty high certainty” that the Ouroboros Bizantine Fault-Tolerant Consensus Protocol (OBFT) will be implemented in mid-February: “Looks like February — at pretty high certainty — we’re going to have the OBFT hard fork occur. We’re still…
Month: January 2020
How the Crypto World Is Preparing for Quantum Computing, Explained
There are two main approaches to address the potential quantum threats: whether to create a quantum-resistant layer to an existing blockchain protocol to increase its security or create a quantum-resistant blockchain from scratch. There are projects that have already implemented the second approach. The best example is the Quantum Resistant Ledger (QRL), which is operated by the Swiss-based nonprofit QRL Foundation. With its suggestive name, QRL has created a blockchain protocol from zero. QRL is designed to resist any threats from quantum computers. The QRL blockchain, whose proof-of-work mainnet went live…
South Korea Considers 20% Crypto Income Tax
The South Korean government is said to be considering imposing a 20 percent tax on income generated from cryptocurrency transactions. South Korea’s Yonhap News Agency reported Monday that officials from the Ministry of Economy and Finance’s income tax office had been reviewing a new proposal that could see the country adopt a clearer regime for how it taxes cryptocurrencies. An anonymous official speaking to Yonhap suggested South Korea is considering re-classifying returns made on cryptocurrencies as a type of “other income,” placing it in the same category as money earned…
South Korea Considers 20% Crypto Tax
The South Korean government is said to be considering imposing a 20 percent tax on all cryptocurrency transactions. South Korea’s Yonhap News Agency reported Monday that officials from the Ministry of Economy and Finance’s income tax office had been reviewing a new proposal that could see the country adopt a clearer regime for how it taxes cryptocurrencies. An anonymous official speaking to Yonhap suggested South Korea is considering re-classifying returns made on cryptocurrencies as a type of “other income,” placing it in the same category as money earned from lotteries,…
Bitcoin is Still in Gloomy Bearish Territory Even After a 43% Upsurge, Here’s Why
Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year. The gains came as a part of a wider upside momentum that started lat last year. In total, the price rebounded by 43 percent after establishing $6,430 as its local bottom in December 2018. A strong uptrend leads…
Bitcoin is Still in Gloomy Bearish Territory Even After a 43% Upsurge, Here’s Why
Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year. The gains came as a part of a wider upside momentum that started lat last year. In total, the price rebounded by 43 percent after establishing $6,430 as its local bottom in December 2018. A strong uptrend leads…
Cardano’s Commercial Arm to Help Uzbekistan Form Blockchain Task Force
The Cardano blockchain’s commercial arm, Emurgo, has partnered with the government of Uzbekistan to form a blockchain task force to develop regulations for security token offerings (STOs) and exchanges (STXs). In a Jan. 20 press release, Emurgo revealed its new cooperation with the Uzbek government and Kobea Group & Infinity Blockchain Holdings — the official Technology Advisory Agency for Uzbekisitan’s Digital Economic Development Project — aimed at the development of a legal framework for STOs and STXs in Uzbekistan. As part of the initiative, Emurgo and Kobea will provide advisory…
Canadian Teen Charged for $50 Million Cryptocurrency Theft
An eighteen-year-old from Montreal is facing four criminal charges connected to a $50 million SIM-swapping scam targeting cryptocurrency holders, Infosecurity Magazine reported on Jan. 17. The hacker, Samy Bensaci, is accused by Canadian authorities of being part of a ring that stole millions of dollars in cryptocurrency from American and Canadian holders. The theft is said to have occurred in spring of 2018, with Québec police representative Hugo Fournier saying that the hackers were responsible for the theft of “$50 million from our neighbors to the south and $300,000 in…
CoinDesk at WEF 2020: Crypto Themes to Watch as Davos Gets Underway
CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Below is the first edition of our pop-up newsletter, CoinDesk Confidential: Davos. Subscribe below. Get your Fourth Industrial Revolution hardhats on – it’s time to ponder the slew of problems ailing today’s global economy! Hello, it’s Monday, Jan. 20, 2020, the preamble to the 50th Annual Meeting of the World Economic Forum begins today. I’m Zack Seward, managing editor of CoinDesk, and I’ll be your…
after Bull Run, Bitcoin Retreats in Tactical Maneuver
BTC/USD is as of now exchanging at $8,623. Over the most recent 24 hours, the coin was in a solid bearish disposition amid falling instability. Bitcoin drove the digital money market on Sunday with a sudden short consolidation that surpassed the desired $9,000 without precedent for 2020. The price came to $9,000, yet the highest price level came to $9,194.99. Consolidating trends between $8,500 and $8,750 level are probably going to come first for the time being. The weekend session was very noteworthy for significant digital forms of money. Every…