Scaling Ethereum Before Sharding, Casper

The Ethereum (ETH) team is actively looking for solutions that may help scale the blockchain network, as reported by Cointelegraph on July 15. Co-founder of Ethereum Vitalik Buterin is now considering third-party blockchains that have lower commission rates for transferring information. According to him, the Bitcoin Cash (BCH) blockchain could cope well with this task. The fact is that BCH has a high data throughput — 53 kilobytes per second (KPS) compared to Ethereum’s eight KPS, which are actively used by applications, Buterin revealed. Scalability issues force the hand Over…

Bitcoin Approaches $11,000 With All Top 20 in Green

Saturday, July 20 — crypto markets have seen another upward move, with all top 20 coins by market cap seeing major gains, while Bitcoin (BTC) has approached $11,000 mark again. Market visualization from Coin360 After dipping below the $11,000 threshold on July 14, Bitcoin has approached the price point today, with its intraday high of $10,944, according to data from CoinMarketCap. The biggest cryptocurrency added 3.7% to its price to trade at $10,922 at press time. As Bitcoin has seen significant volatility this week, with its price having dipped below…

Bitcoin Retakes $11,000 Following Turbulent Week in Crypto

July 20 — Bitcoin (BTC) has retaken the $11,000 price point on the heels of a turbulent week. Charts Courtesy of Coin360.com Charts Courtesy of Coin360.com After a bull market at the end of June brought the price of BTC to almost $14,000, the coin had largely been maintaining between $10,000 and $13,000 for most of the past month, briefly cracking $11,000 on July 15 before slipping below the $10,000 price point on July 16. For the past three days, BTC has been in the $10,000 range, but had faltered…

BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst

Bitcoin (BTC) outflows on major crypto exchange BitMEX have notably exceeded the inflows after the firm was reported to be a subject in a regulatory investigation. Bitcoin outflows on BitMEX exceeded inflows by $73 million Over the past 24 hours, BitMEX saw an outflow of $83 million worth of Bitcoin, while only $12 million came in, London-based blockchain data provider TokenAnalyst reported in a tweet on July 19. 24-hour on-chain Bitcoin flows on major exchanges. Courtesy of: TokenAnalyst Twitter While such a discrepancy appears to be abnormal in comparison with…

Lawmakers Finding It Hard to Trust Facebook

The United States’ Senate Banking Committee raised a wave of skepticism over Facebook’s crypto project Libra during the first day of testimony on July 16. The new hearing, called “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System” is scheduled for 10:00 AM ET, July 17. As day two is coming in the next few hours, Cointelegraph posts a short recap of yesterday’s hearings. The first day saw Senate Banking Committee attacked David Marcus, head of Facebook’s crypto wallet Calibra, raising major concerns over…

This Year BlockShow Is Gearing Up

I first dove heavily into blockchain in 2014 when I joined Cointelegraph. To set the stage, this was right around the time of shadow projects, bitcoin casinos, and the infamous Mt. Gox crash. Almost everyone with a media badge was negative about the budding industry, and those who weren’t were typically working anonymously. At that time, there were probably fewer than 1,000 people in the core community, and those were the people I was interested in. They were building projects, and truly believed in the concept behind crypto and blockchain…

Top-5 Crypto Tokens Pronounced ‘Dead’ — NEM and BCC Head the List: Report

Update, July 20: This article was updated to clarify the fact that the performance of particular cryptocurrency tokens is under evaluation and not the projects backing them. In 2017, the cost of Bitcoin (BTC) reached almost $20,000, and in December 2018, its rate fell to $3,187 per token. Nevertheless, it is a solid price movement for a currency, which was created from nothing about 10 years ago. Bitcoin still dominates the portfolios of most crypto investors and is by far the most popular cryptocurrency, meaning its price is less prone…

Alleged Silk Road Drug Dealer Arrested in the United States

United States Attorney for the Southern District of New York Geoffrey S. Berman announced the arrest of alleged dark web drug dealer Hugh Brian Haney in a press release published on July 18. Per the release, Haney has been charged with money laundering. He allegedly used cryptocurrency to launder more than $19 million of profits earned selling illegal drugs on the now-defunct darknet market Silk Road. Berman commented to the development: “Today’s arrest should be a warning to dealers peddling their drugs on the dark web that they cannot remain…

Could Donald Trump Ban Bitcoin?

Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in crypto assets. Sign up here. Bitcoin yet again graced global headlines last week, after the President of the United States, Donald Trump, took to Twitter to declare himself “not a fan” of cryptocurrencies, “whose value is highly volatile and based on thin air.” The ensuing discussion largely celebrated the global attention…

KPMG to Work With Microsoft, Tomia and R3 on Blockchain Telecom Solutions

Business advisory firm KPMG has partnered with tech companies Tomia, Microsoft and R3 to create a blockchain-based settlements solution for the telecom industry, in anticipation of 5G network services. KPMG announced the partnership and product plans in an official blog post on July 16. As per the report, the planned blockchain solution intends to make use of smart contracts in order to reduce disputes between carriers and mobile operators. Such smart contracts would reportedly include critical information for this purpose, by providing details such as correct rates, destination and bilateral deal…