Harry Potter author, J.K. Rowling, recently asked for an explanation of Bitcoin (BTC) on Twitter, bringing an onslaught of commentary from the crypto community. “This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin,” Rowling tweeted on May 15, adding: One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to understand.” Nearly the entire crypto…
Month: May 2020
Cryptocurrency News From Japan: May 10
This week’s headlines from Japan included SBI Holdings pairing up with Redstone Digital for a joint venture fund, LayerX teaming up with GMO Aozora for digitalization research, Decurret working to put aspects of the health system on the blockchain with Tokio Marine & Nichido Fire Insurance, BitFlyer exchange releasing a commercial, and a data company producing a report on crypto in Japan. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. SBI Holdings starts up joint venture fund with Redstone Tokyo-based SBI Holdings has paired…
Vitalik Says He Has ‘Some Respect’ for How EOS Handles Governance
In a recent series of tweets, Ethereum co-founder Vitalik Buterin gave a nod of approval to competing blockchain EOS with regard to the niche they are trying to carve out. “If I were designing a new chain to live alongside Bitcoin and Ethereum, I would take all the political tradeoffs that BTC and ETH aren’t willing to take,” Buterin said in a May 15 tweet referring to Bitcoin and Ethereum. Vitalik labeled EOS aspects of interest Listed by Cointelegraph as the fifth most influential person in crypto and blockchain, Buterin holds significant weight…
Dear JK Rowling: Bitcoin is Magic
As part of a recent tweet calling on all novelists to message her with their questions on Bitcoin, CoinDesk journalist Leigh Cuen publicized a tweeted response from none other than beloved Harry Potter author, J.K. Rowling. “I don’t understand Bitcoin,” Rowling said, adding, “Please explain it to me.” Dear JK Rowling: The first thing you need to understand is that Bitcoin is magic. It allows you to exchange money with anyone in the world instantly, cheaply and securely, without the need for any centralized, Goblin-based banking authority. Chapter 1:…
OKEx Exec Calls Binance’s CoinMarketCap Ranking ‘Shameless’
OkEx chief strategy officer, Alysa Xu, called out crypto data site CoinMarketCap, or CMC, for its recent exchange ranking rationale, proclaiming the platform dead. “Fairness and justice are the basis of all rankings,” Xu said in a May 15 post on Chinese microblogging site Weibo. “CMC is dead, and we mourn together tonight.” CoinMarketCap recently changed its ranking metrics Binance recently rose to the top of CMC’s crypto exchange rankings after the data site changed the rationale by which it composed its list. CMC now shows exchanges ranked in order…
Bitcoin Doubling Gold’s Yearly Gain So Far
Amid unstable global financial conditions, Bitcoin continues its path as a juicy-looking hedge asset, based on its gains comparative to gold. Sitting at a press time price of $1,717 per ounce, gold has risen approximately 12% from the start of 2020, TradingView data showed. In the same time frame, Bitcoin boasts a 30% gain, at a value of $9,290 at press time. Bitcoin shines against mainstream markets Coronavirus fears and prevention measures sent crypto and mainstream markets into a downward spiral. Bitcoin hit its most recent low on March 13,…
IOV Labs Explains New Off-Chain Bitcoin-Based Payment Channel
Bitcoin blockchain solution startup, IOV Labs, recently introduced the RIF Lumino Light Client. The new offering “will allow to any DApp or mobile application to take the great advantages of the RIF Lumino Network,” an IOV Labs representative told Cointelegraph in an email. But what is the RIF Lumino Network? A second layer payment network on Bitcoin’s blockchain IOV Labs manages Rootstock, or RSK, a sidechain on Bitcoin’s blockchain, which allows smart contract capabilities on the network. IOV Labs calls RSK a second layer solution on top of Bitcoin’s blockchain,…
IOV Labs Ushers in Bitcoin-Based Mobile DeFi
IOV Labs, a startup that constructs financial solutions based on Bitcoin’s blockchain, has introduced another layer of scaling. “IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution,” said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks.” Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution…
Privacy Indifference is Conditioned, Zcash Company Says
While thousands of companies and entities look to grab people’s data for various reasons, the commonly stated idea that folks don’t care about privacy is untrue, according to the Electric Coin Company, the entity behind privacy-focused crypto asset Zcash. Citing inconvenience and other excuses, some people claim they do not care about privacy, Electric Coin Company Product marketing staff Elena Giralt said in a presentation at CoinDesk’s digital Consensus 2020 conference. She added, however: If you take a step back, it’s helpful to understand that billions and billions of dollars…
Metal Pay’s New Blockchain Allows Bank and Payment Platform Integration
Proton, a new delegated proof-of-stake blockchain from crypto payment solution Metal Pay, allows digital asset and fund transfers across multiple channels. “It’s a Blockchain that’s integrated into your bank,” Metal Pay CEO Marshall Hayner told Cointelegraph. “It’s a universal network for payments.” As long as payment platforms integrate the Proton blockchain, customers can send payments across non-native platforms, according to Hayner. Proton allows compatibility across platforms At present, aside from Metal Pay, payment platforms often run as siloed entities, facing difficulties when users want to interact across services. If, for…