A Short brief of the main cryptocurrency industry news from 22.03-23.03

A Short brief of the main cryptocurrency industry news from 22.03-23.03

1. The platform «Caspian», which provides services for trading and managing digital assets to institutional clients, plans to launch trading in cryptocurrency derivatives. Moreover, the platform won`t charge any commission for deposit replenishment and funds withdrawal, as well as provide hundredfold leverage.

«We are working in direction that our clients can receive the same tools that they are used to in traditional financial markets» Robert Dykes, the head of Caspian said.

 

2. Payment startup «Square», which was created by Jack Dorsey, Twitter founder, is looking for blockchain experts to work on cryptocurrency initiatives for developing industry. On his page, he said that he wants to hire three or four engineers and one designer who would be ready to receive a salary in bitcoins.

«These people will work on areas that stimulate the development of products that are useful for the crypto community» he says.

 

3. Ram Emanuel, Chicago Mayor believes that the adoption of Bitcoin and other cryptocurrencies is inevitable, because there is increased instability in the financial and political systems of the world. For example, Emanuel cited Venezuela, where the cryptocurrency is already connected with oil.

«National states are falling apart, they suffer crises and the cities are constantly growing. The political system is constantly changing: the old paradigms are no longer relevant. One day, people will realize that cryptocurrency is an excellent alternative for surviving in a financial crisis» he said.

 

4. Vitalik Buterin, co-founder of Ethereum, said in an interview with Bill Barhydt, chief of Abra, that the second most popular blockchain faces three problems now: scalability, privacy and ease of use.

«Ethereum blockchain processes up to 15 transactions per second and we need a rate of 100,000 transfers. At the moment, we can see the main solution for the problem is sharding – the distribution of transactions across different groups of computers. Due to the implementation of such system, we will be able to increase the blockchain’s scalability by a factor of 1000 and maybe even more» Buterin says.

The creator of Ethereum noted that Bitcoin is currently with good means of preserving capital, but if it wants to succeed as a currency, then a transition to the Proof-of-Stake algorithm is necessary.

 

5. The popular social network Facebook is looking for a senior lawyer with experience in the blockchain industry. Recently, a corresponding vacancy was posted on the company’s website.

 

6. The startup «Concordium» has hired Fogh Rasmussen, ex-Prime Minister of Denmark and NATO Secretary General Anders as a strategic advisor.

« People`s knowledge who have deep strategic experience is important to us» Lars Seier Christensen, Concordium chairman says. «Anders will be a key figure in our global expansion plans and he will helps to liaise with government departments».

 

7. A message by the user singlefin12222 appeared on Reddit, in which he talks about the vulnerabilities found in the mechanism of the popular Augur prediction platform.

The scammer creates a bet with an unlikely outcome and subtle errors in the name. Other users accept the transaction, after which the attacker reports a found error and the bet is recognized as invalid in connection with that. However, each of the participants receives back not that the amount of funds, which they contributed, but half of the contract total balance.

For example, Bob put on a positive outcome 70 ETH and Alice on a negative 30 ETH. If Bob wins, he will receive 100 ETH and if Alice wins, she will also receive 100 ETH. However, if the bet is declared invalid, then both parties will receive a return of 50 ETH.

Errors are quite difficult to notice and inattentive users of the platform are always found. For example, once a bet was created, the terms of this state that the price of Ethereum will not surpass the mark of $ 500 by the end of September 2018, but at the same time, the contract expires on September 3.

At the moment, developers are not able to fix this error. They have to create a new version of the contract for fixing this and it will be available only in summer.

 

8. Nobuaki Kobayashi, MtGox Trustee announced on Tuesday in a Tokyo court that he had considered all of the creditors’ applications. In the coming days, he will notify users of the stock exchange hacked several years ago about whether they will receive compensation. It is noted that not all of applications were approved, some rejected without reasons notification.

 

9. The Binance Exchange research division released a report stating that the Bitcoin correlation with the main cryptocurrency is falling, although it is still at a high level. There has also been an increased interest in stablecoins recently.

 

10. Prices for electricity, which is produced at hydroelectric power stations, are significantly reduced in the summer in the southeastern provinces of China. The reason is the rainy season, which begins in late May. Because of this, Bitmain, the giant in the mining industry, is planning to place about 200,000 pieces of cryptocurrency equipment in this area. This information was shared by operators of mining farms.

There is also information, that Bitmain will use mainly ASICs from the new line: Antminer S11, S15 and only the S17, which is planned to be launched into production, although the option of using older models, for example, AntMiner S9i / j, is being considered.

 

11. China`s Center for Information and Industry Development (CCID) has published the eleventh rating of cryptocurrencies, which is based on three components: «basic technology» (64% of the total index), «applicability» (20%) and «creativity»(16%). The study assessed 35 projects. This time, Tron took second place, EOS was again the leader and Ethereum closed the top three. Bitcoin is steadily declining and is currently in 15th place on the list.

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1. The platform «Caspian», which provides services for trading and managing digital assets to institutional clients, plans to launch trading in cryptocurrency derivatives. Moreover, the platform won`t charge any commission for deposit replenishment and funds withdrawal, as well as provide hundredfold leverage.

«We are working in direction that our clients can receive the same tools that they are used to in traditional financial markets» Robert Dykes, the head of Caspian said.

 

2. Payment startup «Square», which was created by Jack Dorsey, Twitter founder, is looking for blockchain experts to work on cryptocurrency initiatives for developing industry. On his page, he said that he wants to hire three or four engineers and one designer who would be ready to receive a salary in bitcoins.

«These people will work on areas that stimulate the development of products that are useful for the crypto community» he says.

 

3. Ram Emanuel, Chicago Mayor believes that the adoption of Bitcoin and other cryptocurrencies is inevitable, because there is increased instability in the financial and political systems of the world. For example, Emanuel cited Venezuela, where the cryptocurrency is already connected with oil.

«National states are falling apart, they suffer crises and the cities are constantly growing. The political system is constantly changing: the old paradigms are no longer relevant. One day, people will realize that cryptocurrency is an excellent alternative for surviving in a financial crisis» he said.

 

4. Vitalik Buterin, co-founder of Ethereum, said in an interview with Bill Barhydt, chief of Abra, that the second most popular blockchain faces three problems now: scalability, privacy and ease of use.

«Ethereum blockchain processes up to 15 transactions per second and we need a rate of 100,000 transfers. At the moment, we can see the main solution for the problem is sharding – the distribution of transactions across different groups of computers. Due to the implementation of such system, we will be able to increase the blockchain’s scalability by a factor of 1000 and maybe even more» Buterin says.

The creator of Ethereum noted that Bitcoin is currently with good means of preserving capital, but if it wants to succeed as a currency, then a transition to the Proof-of-Stake algorithm is necessary.

 

5. The popular social network Facebook is looking for a senior lawyer with experience in the blockchain industry. Recently, a corresponding vacancy was posted on the company’s website.

 

6. The startup «Concordium» has hired Fogh Rasmussen, ex-Prime Minister of Denmark and NATO Secretary General Anders as a strategic advisor.

« People`s knowledge who have deep strategic experience is important to us» Lars Seier Christensen, Concordium chairman says. «Anders will be a key figure in our global expansion plans and he will helps to liaise with government departments».

 

7. A message by the user singlefin12222 appeared on Reddit, in which he talks about the vulnerabilities found in the mechanism of the popular Augur prediction platform.

The scammer creates a bet with an unlikely outcome and subtle errors in the name. Other users accept the transaction, after which the attacker reports a found error and the bet is recognized as invalid in connection with that. However, each of the participants receives back not that the amount of funds, which they contributed, but half of the contract total balance.

For example, Bob put on a positive outcome 70 ETH and Alice on a negative 30 ETH. If Bob wins, he will receive 100 ETH and if Alice wins, she will also receive 100 ETH. However, if the bet is declared invalid, then both parties will receive a return of 50 ETH.

Errors are quite difficult to notice and inattentive users of the platform are always found. For example, once a bet was created, the terms of this state that the price of Ethereum will not surpass the mark of $ 500 by the end of September 2018, but at the same time, the contract expires on September 3.

At the moment, developers are not able to fix this error. They have to create a new version of the contract for fixing this and it will be available only in summer.

 

8. Nobuaki Kobayashi, MtGox Trustee announced on Tuesday in a Tokyo court that he had considered all of the creditors’ applications. In the coming days, he will notify users of the stock exchange hacked several years ago about whether they will receive compensation. It is noted that not all of applications were approved, some rejected without reasons notification.

 

9. The Binance Exchange research division released a report stating that the Bitcoin correlation with the main cryptocurrency is falling, although it is still at a high level. There has also been an increased interest in stablecoins recently.

 

10. Prices for electricity, which is produced at hydroelectric power stations, are significantly reduced in the summer in the southeastern provinces of China. The reason is the rainy season, which begins in late May. Because of this, Bitmain, the giant in the mining industry, is planning to place about 200,000 pieces of cryptocurrency equipment in this area. This information was shared by operators of mining farms.

There is also information, that Bitmain will use mainly ASICs from the new line: Antminer S11, S15 and only the S17, which is planned to be launched into production, although the option of using older models, for example, AntMiner S9i / j, is being considered.

 

11. China`s Center for Information and Industry Development (CCID) has published the eleventh rating of cryptocurrencies, which is based on three components: «basic technology» (64% of the total index), «applicability» (20%) and «creativity»(16%). The study assessed 35 projects. This time, Tron took second place, EOS was again the leader and Ethereum closed the top three. Bitcoin is steadily declining and is currently in 15th place on the list.

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