Category: Crypto News

Bitcoin is often criticized for being slow and lethargic. These days it takes upwards of 4 hours to receive funds, especially if you go for lower transaction fees, which too are in range of $5 or more. If you choose to deliver funds faster, which is still around 30 minutes or so, you will have to pay hefty $10 or higher. This is because of tough competition from Bitcoin Cash which sometimes becomes more profitable to mine than Bitcoin. BTC Lite, unlike bitcoin, runs on Ethereum blockchain which is much more efficient.

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Bittex is the most popular cryptocurrency exchange out there. The exchange is now pushing some updates regarding placing orders. They justify the changes for showing their ‘commitment’ to providing fair and efficient price discovery. They feel that these changes will improve overall trading experience on their markets. Effective today, Bittex will remove orders that are older than 28 days. Many orders have no reasonable expectation of being filled and clog the order books. So this is a good idea.

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Monero team has released 0.11.1.0 and is a part of their mandatory 0.11 update. This major release increased minimum ring signature size to 5 across network and banned duplicate ring members in ring signature. Monero team has been hyper-active over the past few weeks in tweaking the most of it. These updates bring strength and confidence in the entire community. This new release brings myriad enhancements to Monero. Complete changelog is given below. Download links are given at bottom of this post.

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The names of Bitfinex and Tether founders, Giancarlo Devasini and Philip Potter in Paradise papers may come as surprise to many. This massive leak has list of 120,000 companies and people who have taken services of offshore service providers operating in tax havens. These Paradise papers say that Appleby helped Philip Potter and Giancarlo Devasini in setting up Tether in British Virgin Island back in 2014. This leak is the world’s second bigger data leak which is shadowed only by Panama Papers leak that happened in 2016.

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Looks like India is brimming with fake / scam projects and ICOs. Meet the Obizcoin, which is currently doing a pre-ICO to scam and take money of innocent people. This cryptocurrency scam is being carried out by an Indian duo who live in Pune, a city in India. Rupal Agarwal, listed as the founder has never done a single blockchain related work in her life and same can be said about the second founder, Varun Shah, who completed his education in 2010. He has no experience in computers.

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A specific node that was used by CoinPouch wallet was hacked and due to that, millions of Verge (XVG) coins were stolen. Hacker routed the coins through affected node and stole the coins. The Verge was added back in August 2017 when Coinpouch asked its users what crypto they would like to add next. It is very important to note that it was most likely a node that was setup to process Verge as connected to Coinpouch that was hacked. This does not mean Verge was hacked nor does it mean Coinpouch was hacked. At this moment neither Coinpouch nor Justin, the founder and lead developer of Verge, are clear how the hack occurred.

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Verge team has launched Pandoon which is a coin tracker that lets you synchronize trades on supported exchanges and checks how you are performing. Pandoon give you complete overview of your trades and calculates your profits and losses. Pandoon records many different transactions types in order to keep an accurate portfolio balance for accounting and tax purposes. So gone are the times where one had to keep an excel sheet or a mobile application like blockfolio to manage your portfolio. With Pandoon, all of your trades are synchronized automatically and displayed accurately in real time. So it is like blockfolio but you do not have to manually enter or edit data yourself. All that is done automatically whenever you buy or sell anything.

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NEO and Microsoft will be holding a DAPPS (decentralized applications) contest where more than 40 teams will be participating and showing their projects. This was earlier a rumor but now it has been confirmed on Neo’s slack that NEO and Microsoft, together are hosting this competition. Some of the projects that have been submitted and already running on NEO’s testnet include NEP-5 trading contracts (for a DEX); Insurance contracts; SC based marketplace for digital goods; SC based savings account; Crowdfunding on SCs; Authentication via SCs and And many more.

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It seems that NEM has joined hands with a project called LoyalCoin which is based in Philippines. LoyalCoin is a project that will be replacing existing loyalty program, point service in Japan with blockchain technology. This type of project is definitely not the first but such kind of project is first one to get into partnership with NEM. A lot of NEM people are mentioned as advisors in the LoyalCoin project which includes President, Regional Head of South East Asia, Global Director for Partnerships and Council Member of NEM foundation.

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China has made Bitcoin mining illegal and is sending notices to Bitcoin mining farms. The notice says Sichuan Electric power company will soon stop supplying power to the Bitcoin mining farms. In the notice, they say that a lot of power is consumed by the mining machines. The report comes from caijing, a Chinese portal to which one Bitcoin miner commented that the bitcoin mining was being done using discarded water that is let go without producing electricity. This is the chief reason why the price of electricity is so low.

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