Category Archives: Cryptocurrency News

First BTC transaction with automated reporting conducted in Switzerland

Three Swiss cryptocurrency firms successfully completed the first BTC transaction with automated reporting. The transaction complies with anti-money laundering (AML) regulations. The participants in the deal were Crypto Finance AG and 21 Analytics from Zug, as well as Mt Pelerin from Geneva. 21 Analytics CEO Lucas Betschart reported that the Bitcoin transaction between Crypto Finance and Mt Pelerin was the equivalent of $ 23. To carry out the transfer, the Travel Rule Protocol (TRP) solution…

Ontology, Neo and Switcheo Launch Poly Network Interconnection Platform

Ontology, Neo and Switcheo have announced the launch of the Poly Network, which will provide inter-network interoperability and hosting of multi-blockchain compatible dApps. According to the developers, Poly Network will provide transparent and efficient interaction between blockchains. Businesses using different systems will be able to connect to the Poly Network and collaborate and interact with each other through an open and transparent access mechanism. Ontology co-founder Andy Ji said the Poly Network will provide unprecedented…

China tests digital yuan payments for large commercial transactions

The China Digital Currency Electronic Payment System (DCEP) has entered the testing phase of large commercial transactions and is close to its official launch. Following the first large-scale testing of China’s Digital Currency Electronic Payment System (DCEP) in Shenzhen, China’s Ministry of Commerce announced that it is expanding DCEP testing to more cities. The system will also be tested in the processing of large commercial transactions, including payments in the hospitality industry and e-commerce. The…

ASIC miner makers return to developing chips for AI

The largest manufacturers of ASIC miners have returned to the idea of ​​producing chips for artificial intelligence (AI) due to the decline in mining profits. According to a report by analyst firm TokenInsight, the change in market dynamics has forced the three largest manufacturers of mining devices – Bitmain, Ebang and Canaan – to shift the focus from ASIC miners to chips for AI in the long term. Research and development of microcircuits is the…

Tether to Launch USDT Stablecoin on OMG Network

Tether has announced the launch of USDT stablecoin on the OMG Network, a tier 2 scaling solution for the Ethereum blockchain. As reported by Tether, thanks to the OMG Network, USDT holders will pay fewer fees, and the time to confirm token transactions will be reduced without compromising security. Tether CTO Paolo Ardoino said that making USDT transactions on the OMG Network will reduce costs, improve network performance and reduce the load on the underlying…

SpaceChain made a “space” transaction in BTC with a multisignature via the ISS

SpaceChain made a “space” transaction in BTC with a multisignature via the ISS The SpaceChain project successfully sent 0.01 BTC with multisignatures using dedicated hardware on the International Space Station (ISS). The developers of the blockchain-based satellite project SpaceChain reported that they sent 0.01 BTC to two Bitcoin addresses. They used special equipment to transmit encrypted data through a ground station to the ISS. It was created by GomSpace, a satellite manufacturer using nanotechnology, and…

Coinbase Engineer Names Technical Requirements For Listing ERC-20 Tokens

Coinbase security engineer Nadir Akhtar spoke about the technical factors that ERC20 tokens must meet to be placed on the platform. Nadir Akhtar named four characteristics that issuers’ tokens should have when they want to list their assets on Coinbase. This is the presence of verified source code using libraries that comply with industry standards limited options for privileged members and simple and modular design. Akhtar explained that the source code of the token contract…

Bitcoin hashrate declines amid storms in Sichuan

In the past week, the Chinese province of Sichuan, whose miners generate more than 50% of the hashrate of the Bitcoin network, was hit by storms. As a result, part of the cryptocurrency mining capacity was shut down. Storms in Sichuan are leading to power outages in some areas of the province, and some hydroelectric power plants are turning off generation to contain floods. It is equally important to disconnect communications in certain regions. According…

Prysmatic Labs Developed Solution to Resolve Sync Bug on Medalla Testnet

On August 14th, unplanned forks occurred on the Ethereum 2.0 testnet – Medalla. The Prysmatic Labs development team has found a solution to fix a bug that disrupted Medalla. Medalla’s testnet was launched on August 4th. Its goal is to enable the transition to a Proof-of-Stake (PoS) algorithm. About 26,000 validators joined the testnet, and users transferred over 830,000 ETH to the testnet. According to TrustNodes, on August 14, Medalla experienced unscheduled forks – the…

SEC fined startup Boontech $ 150,000 for fraud and illegal ICO

The US Securities and Exchange Commission (SEC) fined cryptocurrency startup Boontech $ 150,000 for providing false information to investors and conducting an unregistered ICO. According to the SEC, between November 2017 and January 2018, Boontech sold $ 5 million worth of Boon Coins. More than 1,500 American investors took part in the token sale. The Commission accused Boontech co-founder Rajesh Pavithran of selling unregistered securities and defrauding investors. According to the SEC, Pavitran provided false…