Day: July 29, 2020

Bitcoin Scaling Tech Could Have Saved Companies and Users $500M in Fees: Report

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A new study from Bitcoin startup Veriphi finds companies and users sending bitcoin transactions could have saved more than half a billion dollars in fees if all companies, including wallets and exchanges, had used the most up-to-date technology. Each bitcoin transaction has an optional fee tacked on. Users have the ability to choose the amount of this fee. If the Bitcoin blockchain is particularly busy, seeing too many transactions at once, a higher fee will ensure a transaction gets picked up by miners and goes through faster. Read more: How…

Trezor Takes a Shot at Ledger After the Hack

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Following Ledger’s confirmed data breach on June 17, competing hardware wallet manufacturer Trezor cheekily made their followers aware that they frequently purge their systems of all customer order data, including email addresses — apparently every 90 days. Ledger too published a tweet on the data breach incident: “This data breach has no link and no impact whatsoever with our hardware wallets nor Ledger Live security and your crypto assets, which are safe and have never been in peril.” This is a developing story and will be updated. Original

Dollars on Blockchain ‘Better Than Central Bank Monopoly on the Payments System’

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Brian Brooks, the Acting Comptroller of the Currency and former head of Coinbase’s legal department, put forward blockchain as better than the United States’ current bank-dependent payments system. Decentralization for future payments On July 29, Brooks spoke with Aaron Klein of the Brookings Institution, a major U.S. think tank. In answer to hypothetical platforms for a future five-year term as Comptroller — Brooks is, at this point, in a liminal state as acting comptroller — Brooks emphasized decentralization: “I’m a believer in decentralization. At the end of the day, I…

Crypto Scammers Turn Toward Terrorism With A Japanese Bomb Threat

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Crypto terrorists threatened to bomb a government office on the Japanese island of Hokkaido. They told authorities that they would only disable the alleged explosive device if their crypto ransom was paid. According to FNN, the terrorists sent the Numata Town Hall an email stating they had installed a bomb in a women’s second-floor toilet. They claimed that as long as officials met their payment demands before 03:00 UTC on June 29, the bomb would not be detonated.  However, this appears to have been a fake threat. The deadline set…

Price Analysis 7/29: BTC, ETH, XRP, BCH, BSV, ADA, LTC, CRO, BNB, EOS

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Bitcoin and most altcoins could consolidate for a couple of days before resuming their uptrend. Bitcoin (BTC) trading volumes in spot and derivatives markets have been surging since the digital asset rallied above the $10,000 level earlier this week. Bakkt reported record Bitcoin futures volume on July 28 and 29, which indicates that the traders who had been waiting for a trending move to start have established fresh positions. A similar volume increase was seen in the Chicago Mercantile Exchange (CME) and the other crypto exchanges that offer futures trading. A…

“Utreexo” Launch Is Making Running Bitcoin Nodes Easier

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A new Bitcoin Full Node implementation might help the network become more accessible for anyone to set up and run courtesy the launch of Utreexo last week, reported CoinDesk on Wednesday. Bitcoin Nodes Made Lighter  Developed as part of MIT Digital Currency Initiative (DCI), Utreexo puts the idea of lighter nodes into working code for Bitcoin. The design was first described by Lightning creator Tadge Dryja in 2019 and saw the release of its first version last week. Full Bitcoin nodes act like financial security systems, said Dryja, validating Bitcoin…

Crypto Price Analysis July 29: Bitcoin Rose Above $11,000

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This past week, Bitcoin added more than 23% and managed to break one of this year’s high at $10,500 per coin. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. The cryptocurrency market capitalization reached $320 billion. Altcoins are trying to keep pace with the “captain” of the industry but their dynamics are quite different. The Chicago Mercantile Exchange announced a record rally in trading volumes of BTC futures. The daily…

Bearish Bitcoin Signal That Preceded 220% Explosion in 2017 Just Flashed

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Bitcoin price this week broke up from consolidation and surged over 15% to $11,400 at the high. On one specific timeframe, the recent push through resistance has triggered a signal that the uptrend may be exhausted and therefore coming to an end. However, in the past, the cryptocurrency kept on climbing by as much as 220% before the bullish momentum came to a halt. With this supposedly bearish signal triggering yet again, will it lead to a pullback or continued pump? Bear Signal Triggered On Bitcoin 3D Charts, Uptrend Nears…

DeFi Users Are ‘Underestimating Risk’

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Ethereum went live five years ago changing the entire blockchain and crypto sector with developers envisioning a new form of money and social interactions and it has so far revolutionized the nascent industry. Five years ago, an ambitious project went live. The ETH network changed the landscape of the crypto and blockchain sector. The developers envisioned a world computer era that would change money and social interactions significantly. It was designed to push boundaries of what might be done using cryptography and distributed consensus. Ethereum had finally arrived. Ethereum is…

Blockchain Bites: Ledger’s Breach, Celsius’ Contradictions and DeFi’s Next Frontier

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Ledger suffered a data breach, crypto mining in India comes with questions and a new decentralized finance (DeFi) looks to offer lending and saving opportunities for PoS token holders. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Anchor AweighLiquidity mining is coming to proof-of-stake (PoS) blockchains. Anchor, the new DeFi platform from Terra, Cosmos, Web3 Foundation and Solana, is designed to launch with a governance-token reward. Version 1…