Majority of Voters Support ASIC-Resistant ETH Algorithm Implementation, Online Vote Shows

An online vote over the implementation of ProgPoW in the Ethereum (ETH) proof-of-work (PoW) algorithm shows a majority in favor of the change, according to the results updated today, Feb. 15, on the dedicated voting portal. ProgPoW is an application-specific integrated circuit (ASIC)-resistant PoW algorithm meant to replace ETHhash, Ethereum’s current PoW algorithm. By defining the algorithm as ASIC-resistant, ETH developers mean that the algorithm would decrease — but not eliminate — the efficiency advantage of mining using ASICs over using generic hardware such as graphics processing units (GPUs). At…

Bitcoin Use Increased by 571% in the Past 5 Years and 13% of Online Buyers Have Used Cryptocurrencies, Coinmap and Kaspersky Reveal

The use of cryptos and blockchain technologies has proved to be an unstoppable phenomenon, and despite the bearish streak, adoption is growing steadily under the gaze of critics and proponents. A study by the Russian cybersecurity company Kaspersky Labs has found that more than 13% of consumers have used crypto to make some kind of online purchase. The Kaspersky Lab Global IT Security Risks Survey 2018 is based on the results of 12448 surveys conducted with consumers from 22 countries in an attempt to determine changes in preferences and behavior…

Regulator Warns of Online Scam Claiming Gov’t Adoption of Crypto

The Monetary Authority of Singapore (MAS) has warned the public against an alleged scam claiming that a cryptocurrency is officially adopted by the government, according to an official statement on Jan. 29. MAS, which is both Singapore’s central bank and the country’s financial regulator, writes that the fraudulent scheme is being spread through websites that offer crypto investment using false data attributed to the government. The fraudulent websites reportedly claim that Singapore is adopting a cryptocurrency as its official coin, and ask users to provide personal and financial data to…

Bitstamp Partners With Leading Swiss Online Bank to Enable Bitcoin (BTC) Funding and Withdrawals

The cryptocurrency exchange of Bitstamp has partnered with Dukascopy Bank to enable crypto funding for the clients of the bank. The bank is a leading Swiss online bank and its clients can now send Bitcoin (BTC) to their accounts and the crypto will be converted to US Dollars which they can use to trade on the Swiss FX Marketplace. The clients of Dukascopy can also withdrawn their funds back to the their crypto wallets in the form of BTC. Bitstamp will facilitate the conversion of fiat to Bitcoins and vis…

Crypto Exchange Bitstamp Announces Partnership with Major Swiss Online Bank

European cryptocurrency exchange Bitstamp has announced a partnership with major Swiss online bank Dukascopy, according to an announcement published on Friday, Jan. 25. Bitstamp will support Bitcoin (BTC) transactions on behalf of Dukascopy Bank. Clients will be able to send BTC to their accounts, convert them to U.S. dollars and trade on the Swiss FX Marketplace. In addition to that, customers can transfer their funds back to the wallet in form of BTC. Bitstamp believes the new partnership will contribute to bridging the gap between crypto and traditional finance. In…

Leading Asian Online Retailer Qoo10 to Launch Merchant Fee-free Blockchain-Powered Ecommerce Platform

qoo10.sg A blockchain-based online marketplace built on the Ethereum protocol is set to be launched by ecommerce firm Qoo10 on January 1, 2019, Tech in Asia reports. Known as QuuBe, the blockchain-based marketplace comes with a cryptocurrency of its own dubbed the Q*coin. Currently, Q*coins, which are the only accepted means of payment on QuuBe for shoppers, can be purchased in 7-Eleven stores. Qoo10 does not expect to allow other cryptocurrencies to be used on QuuBe due to their volatility. Per the CEO of Qoo10, Ku Young Bae, the platform…

Chinese Internet Court Uses Blockchain To Combat Online Plagiarism

An Internet Court launched in Eastern Chinese City Hangzhou will now use blockchain to fight plagiarism for online writers, local Chinese news outlet China.org.cn reported. China launched its first internet court in the city of Hangzhou to deal with internet related cases, save time and reduce overhead costs of getting justice out of the system. At the time of the launch, the court was expected to accept court filings and cases electronically and given the mandate to rule online cases via live stream. Plaintiffs may verify their identity with a government-issued…

Chinese Internet Court Uses Blockchain to Protect Online Writer’s Intellectual Property

An Internet Court in Hangzhou, Eastern China, has turned to blockchain to fight piracy at the expense of online writers, English-language media outlet China.org.cn reports Dec. 8. China has reportedly “set up three Internet courts in Hangzhou, Beijing and Guangzhou.” Internet Courts are courts expressly intended to manage internet-related cases and allow plaintiffs to file their complaints online. The official website of Hangzhou Internet Court reads that it “behave[s] as an ‘incubator’ for Internet space governance, a ‘test field’ for Internet judicial rules, a ‘leader’ for diversified Internet disputes, and…

South Korea to Test Blockchain-based Voting Prior to Integration with Online Voting

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Blockchain voting could soon be a reality in South Korea if the trial on a system based on distributed ledger technology turns out successfully. According to The Korea Times, the development of the blockchain-based voting system will be completed in December. The system which is the brainchild of South Korea’s National Election Commission and the Ministry of Science and ICT is aimed at enhancing the security…

Online Bank Swissquote Enters ICO Market With Purchase and Custody Option for Clients

Swiss online financial services provider Swissquote announced it had become “the first bank worldwide” to offer purchase and custodial services of (Initial Coin Offering) ICO tokens for clients in a press release Monday, Oct. 22. Swissquote, which has offered various cryptocurrency-related services to account holders since 2016, began its latest service by allowing them to purchase ICO tokens from industrial diamond manufacturer LakeDiamond. Explaining the move, the bank said it was now no longer necessary for ICO consumers to “understand blockchain.” “Combining crowdfunding with the blockchain creates a new form…