Crypto

Global tech giant Intel, familiar for its widely-used pc processors, has won a patent connected to its work in the area of cryptocurrency mining. On Tuesday, the U.S. Patent and Trademark office awarded the company a patent outlining a processor that claims to be ready to conduct �energy-efficient high performance bitcoin mining,� specifically naming the SHA-256 algorithmic program used by the world�s largest cryptocurrency by market cap. As reported, Intel has antecedently sought patents related to its work in the area of crypto mining. And it had been Intel�s foundry that produced the chips for the mining operation run by 21 inc, which later rebranded as Earn.com and was ultimately acquired by Coinbase. Per the patent, bitcoin miners could also be rewarded for their efforts by receiving a block reward and transaction fees. However, mining machines for the bitcoin network usually need hardware accelerators, like application-specific integrated circuits (ASICs), and thus need a large q...

Following an announcement from Bitfinex yesterday relating to their newfound �neutrality� to tether (USDT) and intent to use different stablecoins in addition to USDT, crypto firm Tether has revived its former business model of enabling 1:1 redemption of USDT for USD on its own platform. �Now, thanks to stronger banking as a result of our new relationship with Deltec, Tether is able to return to its original vision of getting a wallet for making and redeeming directly on its own platform without having to depend on a third party. This update allows the immediate withdrawal of Tether to fiat (1:1), with the ability to acquire coming soon.� Users who wish to cash out USDT at Bitfinex will do thus at market rates, instead of 1-for-1, all along with the other stablecoins that are being offered. As we�ve reported in the past, tether occasionally divorces from its dollar peg because of market pressures, typically by as much or over 5 cents. Tether also published a rate card relating to the d...

Major U.S. stock exchange Nasdaq still intends to launch Bitcoin futures and could do so as soon as Q1 2019. Quoting �two individuals conversant in the matter,� the publication said momentum was building towards a possible launch early next year. The move comes despite the worsening in Bitcoin (BTC) prices to 13-month lows, marking the tail end of a testing year for existing Bitcoin futures products. According to the two unnamed sources, nasdaq �has been working to satisfy the concerns of the U.S.�s main swaps regulator, the commodity Futures trading Commission [CFTC], before launching the contracts.� Just over a year ago, the exchange first recommended it would launch futures by mid-2018, creating the announcement shortly once CBOE and CME group set the launch date for the industry�s first such futures at the end of November 2017. The plans didn't go ahead, and Nasdaq�s providing will likely currently come to promote later than multiple major competitors in traditional finance, in...

Exiled American whistle blower Edward Snowden has weighed in on the conversation surrounding bitcoin, stating that whereas the market lodestar will be eventually dissolve, the utilization of cryptocurrencies won't finish with bitcoin. Speaking in an interview with Ben Wizner, Director of the ACLU Speech, Privacy and Technology project, Snowden mentioned that the belief that supports bitcoin acting as a worldwide currency can merely transfer itself to different cryptocurrencies instead of dissipating. Scarcity and Belief Responding  to an issue from Wizner regarding whether he believes bitcoin has long-run intrinsic value, Snowden compared bitcoin to paper fiat money and pointed out that the only difference between fiat and monopoly money is the belief generated by state backing, which essentially boils down to �men with guns.� In his view, whereas bitcoin and different blockchain-based crypto assets have a severely restricted quantity of fundamental worth, two things, specifically,...

In the last twenty four hours, the valuation of the crypto market increased from $137 billion to $140 billion after a minor recovery of around two percent. Both major cryptocurrencies and little market cap tokens have ended the day with relatively minor losses within the range of one to three percent. Is Bottom near For Bitcoin? The volume of Bitcoin (BTC) has dropped from $5.5 billion back to $4 billion over the past many days, by over 27 %. given that the worth of BTC has not fallen substantially throughout the time wherein its volume fell, a case will be created that the sell-pressure on the dominant cryptocurrency has subsided. A cryptocurrency trader and economist Alex Kr�ger explained: �Yesterday, BTC triggered my main oversold signal on the daily. This signal printed only once before: Jan/17/2015. Very close to a bottom that held for eight months, and was broken only once ever after, briefly, throughout the Aug/18/2015 flash crash.� Generally, after a 30 to 40 % drop, major cryp...

Adrian Barwicki, the creator of the Panda Suite software development kit for Bitcoin cash (BCH), disclosed on November. 18 that he has been performing on a �Medium-like� social media platform built around the BCH network. On Nov. 22, Barwicki declared the activation of his project, Honest cash, that permits 100 accounts the ability to experiment with the beta platform.  BCH Platform Honest Cash Aims to Fill a Void In October, news.Bitcoin.com reported  on Barwicki winning the first BCH Devcon grand prize in Amsterdam with the Panda Suite SDK. now Barwicki is deep within the midst of making a social media project that's just like popular blogging platform Medium. The Honest cash platform allows users to make a profile and so post written content. The application also offers users the ability to earn bitcoin cash if individuals appreciate the shared content and tip the user/writer. The Honest cash manifesto states that the application are going to be uncensorable, community-driv...

SWIFT India has announced a collaboration with financial technology supplier MonetaGo to launch a distributed ledger pilot program which will aid the operation of Indian banks. Using infrastructure provided by MonetaGo and SWIFT�s standardised financial messages, the planned blockchain platform will enable banks in the country to boost the protection and potency of their financial products and processes. MonetaGo�s expanding Footprint in india It will be recalled that in January 2017, CCN reported that New York-based MonetaGo was tapped by a consortium of 15 Indian banks to produce blockchain infrastructure for a pioneering interbank blockchain platform pilot. At the time, it was reported that the banks, cumulatively responsible for over 80 % of India�s transaction total, put together a pilot program that might see a blockchain platform integrated with their existing infrastructure and technologies, in an effort to ease adoption. Leveraging its previous experience in the Indian financi...

DAREX�s hybrid model allows users to trade utilities and securities � and the revenue generated from these transactions is subsequently shared with token holders. In time, the exchange hopes to become a �truly helpful and democratic exchange platform for all.� The startup is set to be �the first exchange of its kind� thanks to how it blends the advantages of centralized exchanges with a decentralized ownership structure. The platform is going to be �100 percent owned� by the Darico community through the distribution of Darico Exchange Community Shares � called DECS for short. As well as paving the way for profit distribution, these security tokens would enable holders to have voting rights � giving them a say on how the exchange develops within the future. The startup hopes that individuals, institutions, professional traders and investors can all stand to benefit from what the exchange has to offer � enabling them to trade, deposit and withdraw �a sort of top-ranked cryptocurrencies.�...

The market cap of the world�s leading cryptocurrency has established its new yearly bottom. Bitcoin on Monday continued  its downtrend, and its valuation dropped to a new bearish low at $92.53 billion. At the same time, the value of the digital currency fell to an average of $5,322, according to aggregate information available at CoinMarketCap.com. Overall, the bearish action intense the chance of Bitcoin establishing a double bottom anytime this year. As reported  on CCN last week, the forking of Bitcoin cash has turned out to be the main catalyst behind the market-wide downtrend. Bitcoin is an asset that's more stuck inside unwelcomed negativity, particularly when the chief of a giant mining company determined to reallocate their Bitcoin hash power to support Bitcoin abc, one of the Bitcoin cash blockchain splits. Whereas the trend should live for short, it has left a giant dent on the face of the whole crypto market, that currently seems more unstable to potential investors...

The SIX Swiss Exchange has given the go-ahead to an exchange-traded product tracking multiple cryptocurrencies, in keeping with a financial Times report. The Swiss regulators have raced before the U.S., by agreeing to greenlight the Amun Crypto Exchange Traded Product (ETP). Based on the reports, the Amun Crypto ETP,, can have half of its assets invested with in Bitcoin (BTC), whereas the other half are going to be shared between Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). ETPs are derivative investments that are traded on securities exchanges, valued on the basis of a commodity or within the case of the Amun Crypto ETP, the benchmark would be cryptos. The approval from the SIX Swiss Exchange could be a landmark event as no exchange-traded product exist anyplace, not even in the U.S., wherever the Securities and Exchange Commission has kept everyone guessing on when it might approve the first Bitcoin Exchange Traded Fund (ETF). Amu chief executive officer and c...

Global charity organization Oxfam has launched a blockchain technology platform aimed toward enhancing the transparency and traceability of the rice provide chain in Cambodia. Known as BlocRice, the app uses distributed ledger technology to implement sensible contracts wherever details such as the farm gate price of organic rice, trade volume and methodology of transportation are recorded, according to the Khmer Times. The project which will initially work with 50 rice farmers in Cambodia�s Preah Vihear province throughout the first year is anticipated to boost the bargaining power of the participants in negotiations with the buyers of their produce potentially netting them higher costs. �The application of blockchain technology is anticipated to enhance the negotiation power of small-scale farmers in their rice value chains, who are sometimes poor primary producers,� the country director of Oxfam in Cambodia, Solinn Lim, said. Additionally, the BlocRice app can connect all the various...

Scotcoin will donate �5 off each �20 it earns from its token sale to homeless individuals, disclosed a local source. The cryptocurrency project, that aims to tackle poverty and fund charity ventures, declared that it might join hands with Social Bite, a Scotland-based nonprofit venture looking to finish homelessness. Together, the organizations would generate funds to create houses available to the homeless population in Scotland. they'd pay for the tenancies and would also assist these individuals obtaining back into the society. The announcement comes prior to winters, a time of the year that sees the temperature falling to as low as minus 17-degree Fahrenheit. The Social Bite fundraiser sets its initial goals to assist the homeless survive through the wintery chills while eyeing permanent homes through the Housing first model. �This is an inspiring initiative,� said Temple Melville, Scotcoin�s leading stakeholder. �One of our expressed objectives is to assist eradicate homelessn...

Despite their harsh exterior, banks have been quietly getting ready for a world that involves cryptocurrencies. Bank of America has most recently secured a patent for a cryptocurrency aggregation system, one in which massive companies store customers� crypto deposits in an enterprise account involving vaults and offline storage instead of taking on the risk themselves. For instance, �deposit accounts at an enterprise, like a financial institution, are utilized by customers of the financial institution to deposit funds for safekeeping,� consistent with the patent. While several of the dozens of patents filed by banks so far have centered on blockchain technology, this technique, that received the green light on November. 13 by the U.S. Patent and Trademark office, is clearly a competitive move in crypto. Bank of America�s system is comprised of a memory to store client and enterprise accounts also as a processor to handle cryptocurrency deposits across coins like �Bitcoin, Litecoin, [XR...

Co-founder of Australian based cryptocurrency exchange CoinJar has expressed that stablecoin is a game changer for the business and that the potential use cases are rather more than we know, The Australian financial Review reports. Stablecoins are cryptocurrencies created to combat the volatility of the market by making a token that may be converted into different tokens but with a set rate. The most popular stablecoin is Tether, the tenth most traded cryptocurrency within the world by market volume, according to CoinMarketcap. However, Tether has had its fair share of troubles starting from transparency and manipulation allegations. Other stablecoins that have popped up to replace Tether includes Gemini USD, owned by the Winklevoss twins, Paxos standard and True USD. Tan, who isn't actively running Melbourne based CoinJar, said stablecoins, which helps you �transfer money around the crypto ecosystem at a stable rate� is �on everyone�s lips,� adding that �there�s an entire lot of a...

Bitmain has released (and already oversubscribed out of) its Antminer S15 model traditional ASIC Bitcoin miner. At a value of $1,475 per unit and a per-customer limit of 2, it's comparably one of the better bargains as mining hardware goes. It clocks up to 23 terahash per second, meaning that 3-4 units would be needed to match the performance of Bitfury�s Tardis, which goes up to 80TH/s. The Tardis, however, is much costlier on a per unit basis, with resellers obtaining almost $7,000 per unit. BitFury themselves don't publish the value of a single unit. presumably their valuation varies based on the buyer�s needs in terms of quantity. However, for simply $50 over the Antminer S15, miners will shortly be able to acquire Ebang�s Ebit 11+, which touts 37TH/s, for $1517 � far and away the most effective deal of the major mining hardware suppliers mentioned here. At the identical time, one cannot simply purchase a single E11+ � you must shop at least 50, for a minimum investment of ...

Two European and one Japanese bank one have completed the first blockchain-based syndicated loan. Together with France�s BNP Paribas and Japan�s Mitsubishi UFJ financial group, Spain�s banking behemoth BBVA used a personal blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the financial Times, legal advisers were also granted access to the private blockchain network permitting instant exchange of data among all the parties to the deal. According to BBVA, the blockchain pilot is proof that distributed ledger technology might transform the syndicated loan business by simplifying and shortening the waiting period from around two weeks to between 24 and 48 hours. The time taken to method documentation and sign the syndicated loans, for example, may be reduced to a few minutes from many hours. In addition, clients can scale back their operating prices since by having the system recording everything automatical...

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The chairman of Russia�s State Duma Committee on financial Markets has said that a state-backed stablecoin would be an entire like the Russian fiat ruble in a digital area, state-operated Russian press agency RIA novosti reported Nov. 7. Chairman Anatoly Aksakov said that the �crypto ruble,� which can seem once the adoption of laws regulation the cryptocurrency industry in Russia, would be �the same ruble, simply in encrypted form.� The State Duma chairman explained that it'd be possible to alter the Russian stablecoin for the equivalent in fiat money: "For example, you bring 100 thousand rubles to a bank and get 100 thousand crypto rubles, one to one for fiat money. You use these funds to buy goods fixed in the blockchain.� Aksakov also underlined that the crypto ruble � �the ruble in blockchain� � would replace the fiat ruble �as soon as the blockchain begins to occupy a major place in our economy.� The chairman noted that this method should be regulated by the Russian centr...

BitFury, a crypto mining company, has declared the closing of a private placement investment of $80 million, bringing the entire funds raised by the firm to $170 million since its Series A round in 2014. The round, according to an official release, was led by a Paris-based venture capital firm Korelya Capital. Mike Novogratz�s Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat group and others also participated in the Series C funding round for the San Francisco crypto company. Greg Revenu, Managing Partner of Bryan, Garnier & Co, a Europe-based investment bank, that is also the sole financial adviser and Placement Agent for the BitFury�s funding, stressed that the most recent investment marks the �global institutionalization� of the blockchain industry. �As the market is maturing, we are witnessing an acceleration in the adoption of blockchain technologies throughout the globe, in all domains, at each corporate and governmental level,� he explained. �This transaction also d...

An 18-year old Indian teenaged has threatened to blow up Miami International Airport (MIA) as a retaliatory move for the U.S. Federal Bureau of Investigation FBI�s uncooperative stance to assist him track down an american fraudster who duped him of $1,000 value of bitcoin on a preferred online forum. Based on reports on local news outlet Hindustan Times, the unidentified 18-year old boy from Northern state Uttar Pradesh had created many calls to the FBI to lodge a complaint about a bitcoin deal that went awry. Once he felt he wasn�t going to get the assistance he required, he known as up Miami airport and threatened to blow it up. He had reportedly handed over his investment to an unidentified individual he met on an online forum, who had assured the teenager he may help him create profits through a bitcoin deal, the report had expressed. The news outlet quoted Uttar Pradesh director general of police (DGP) OP Singh who said there were no immediate plans to arrest or reveal the culprit...

USD Coin has been in the spotlight lately and the reasons shouldn't be far-fetched for anyone who has been following proceedings in the crypto ecosystem lately. In less than a month, the company rose in value and notched the 58th position of prime cryptocurrencies, according to information on CoinMarketCap. More overwhelming is the circulating offer of the coin which surpassed 125 million with a 24-hour trading volume of concerning $2 million. Not less than 12 exchanges, according to an official blog post from Circle, have expressed their plans of joining the ecosystem for the incorporation of the USD coin. The exchanges are BitMart, Fcoin, Gatecoin, Hanbitco, Hotbit, SWIFT, OCP Capital, DDEX and Bit-Z. The world�s 1st instant crypto-backed loan provider; Nexo conjointly disclosed the ongoing method of adding the stablecoin. Users of Shenzhen-based cryptocurrency startup Bitkan and wallet provider Tokenary can also store and use USDC to hold out various services. The last two weeks...

Authorities in Bulgaria have clamped down on the shady sale of international passports to foreigners from some elements of eastern Europe in exchange for bitcoin. Erring citizens of Bulgaria, Ukraine, Moldova, and Macedonia have been allegedly involved in the perpetration of such illegal  activities. Officials arrested The citizenship issuance that was approved by Bulgarian officials has landed suspected officials in the police net. Among those who were apprehended by the Prosecutor�s General office are Bulgarian State Agency for Bulgarians� matters abroad Peter Haralampiev, General Secretary Krasimir Tomov and the member of the agency Mark Stoyov. Corroborating the apprehension of these officials, the Chief prosecutor of the State Ivan Geshev stated: �Peter Haralampiev, Krasimir Tomov, and Mark Stoyov have been arrested for fraud with the issuance of Bulgarian passports to Ukrainian, Moldovan and Macedonian citizens.� While the legal counsels of the accused officials have denied t...