Day: October 27, 2020

Blockchain Bites: JPM Coin Goes Live, Bitcoin Rallies, Stocks Falter

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JPM Coin will see its first commercial use, banking executives said. Southeast Asia’s largest bank by assets, DBS, is eyeing a digital assets exchange. And bitcoin’s recent rise shows a decoupling from traditional markets, like the S&P 500. Top shelf JPM CoinJPM Coin, the enterprise-minded digital asset stewarded by the titular global bank, will see its first transaction this week, a JPMorgan executive said. Designed for wholesale payments and faster transactions, the system is predicted to save the banking industry hundreds of millions of dollars a year. First revealed in February 2019,…

Diego Gutiérrez Zaldívar: How a Decentralized Internet Can Power Latin America

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It’s no secret Latin America’s economy is not in great shape compared to other regions. There isn’t any single reason for this. You could point to a dependence on commodity exports and its booms and bust cycles, government corruption, income inequality or a combination of them all.  Diego Gutiérrez Zaldívar is the CEO and co-founder of IOVLabs, the blockchain development company responsible for Bitcoin’s smart contract network RSK and its infrastructure layer RIF. In 2019, he oversaw the acquisition of Taringa!, Latin America’s largest Spanish-speaking social network. This post is…

Smart Contract 101: MetaMask | Blockchain News

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In this lesson, we will talk about MetaMask, a popular and easy to use cryptocurrency wallet. To execute any transaction on the blockchain, we will need to be able to pay in cryptocurrency and for this, we will need to have our own crypto wallet. The first step is to install MetaMask on your chrome browser. (Download Link) Click Get Started after installing MetaMask on your chrome browser. Create a Wallet if you are new to cryptos. Set up your password for MetaMask on your computer—Please note this will be a different password than…

Bitcoin Explodes to $13,600 as Buyers Continue to Rush In

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Bitcoin is once again surging higher despite fears the coin was reaching a trend peak. Two hours ago, the cryptocurrency began its latest leg higher, pushing as high as $13,650 on leading digital asset exchanges. In the past 24 hours, BTC is up 5%, having found a short-term bottom in the $12,800 range after yesterday’s stock market retracement. Analysts are mixed about what comes next for the leading cryptocurrency. While many are certain that Bitcoin remains in a long-term bull trend, there are signs indicating a short-term retracement is possible.…

Crypterium to Migrate CRPT Tokens to New Smart Contract after KuCoin Breach

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Among the affected tokens there were 10 million CRPT tokens, used to power the Crypterium payment system and even pay network fees. Crypterium, a crypto card processing fintech company, has announced its plans to conduct a 1:1 swap, which will see its unaffected CRPT tokens transferred to a new smart contract for security purposes. This is according to a press release seen on October 21. The migration will boost security and prevent bad actors from using the stolen funds after KuCoin, one of the leading crypto exchanges in Asia, was…

It’s “Do or Die” for Altcoins as Bitcoin Continues Capturing Dominance

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It could be “do or die” for altcoins as Bitcoin continue capturing serious dominance over the aggregated crypto market Bulls have been focusing their attention fully on BTC, which has caused many altcoins to plunge throughout the past few days and weeks Ethereum has been a leading indicator of the state of the altcoin market, and the fact that it is still trading down 20% from its yearly highs despite Bitcoin setting fresh 2020 today is a grim sign That being said, if Ethereum can rebound in the near-term, it…

China’s Coronavirus Outbreak Prompts Charity Blockchain Use

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Tens of millions of dollars have been reportedly raised to help Wuhan, a city in central China with 11 million people, to recover from its coronavirus outbreak earlier this year. However, charities in China are not widely trusted.  Now, China’s digital payment and banking giants have been building blockchain-based platforms to tackle miscommunication between charities and the affected communities, as well as a lack of transparency in the current donation distribution system, CoinDesk Japan reported Monday.  Alibaba, parent of AliPay, released the technical framework and industry standards for blockchain platforms…

6 Bitcoin Lightning Network Vulnerabilities

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This is the first article in our two-part series on existing vulnerabilities in Bitcoin’s Lightning Network. Part one details the outstanding vulnerabilities and their risk factors. Part two will examine why these weak spots have never been exploited, what changes may be made to fix them and the developing trade-offs that come from balancing user-friendly applications and air-tight security. A running joke (or perhaps, an admission) in Bitcoin circles asserts that Bitcoin’s most steadfast proponents are also its most trenchant critics, particularly those in its developer circle. They know how…

Number of Ethereum Addresses Holding 32+ ETH at All-Time High

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Data from analysts Glassnode shows the number of Ethereum addresses holding 32+ tokens is at an all-time high. Since 2016, the number of addresses with 32 or more tokens has grown in line with Ethereum’s rising price. But this began to plateau during the start of the bear market in January 2018. Sudden interest at the end of June 2020 saw a steep vertical jump, when this figure spiked 5%, from 116k to 123k accounts, in less than a week. Some four months later, the current number of accounts holding…

Southeast Asia’s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange

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The Singaporean multinational banking and financial services corporation DBS published an announcement revealing it was launching a cryptocurrency exchange. The announcement was later removed by the company but crypto proponents have learned about the upcoming support for assets like bitcoin, ethereum, and bitcoin cash. DBS Bank Ltd is Southeast Asia’s largest bank in terms of assets under management (AUM), as the corporation’s 100+ branches hold more than $600 billion today. The bank published information on the subject and then swiftly removed the announcement. However, a number of cryptocurrency proponents caught…