Billions of dollars in losses. All about cryptocurrency pyramids.

Cryptocurrency NewsBy 03/08/2020

The biggest damage in the blockchain industry comes from Ponzi schemes. They are especially popular with scammers who deceive hundreds of thousands of people every year. 1. How do financial pyramids work? The organizer of the pyramid scheme invites investors, promising them high profits in the future. There are two conditions: the victims must contribute money and invite new members. Those are given a similar task and so on along the chain. All the profits…

Bank of England Updates RTGS Payment Network to Support Government Cryptocurrency

Cryptocurrency NewsBy 03/08/2020

The UK central bank is updating the RTGS payment and settlement system so that it can support the operation of the government cryptocurrency in the future if it is released. The Bank of England wants the updated Real Time Gross Settlement System (RTGS) – the payment network used by UK financial institutions – to be directly compatible with the government’s cryptocurrency. The new settlement system is being developed so that the Central Bank can use…

Glassnode: 93% of all BTC addresses contain “profitable” bitcoins

Cryptocurrency NewsBy 31/07/2020

According to analyst firm Glassnode, about 93% of all BTC addresses contain “profitable” bitcoins after the price of the cryptocurrency exceeded $ 11,000. According to Glassnode, these addresses contain bitcoins, which have increased in value since they were transferred to the wallet. Now the number of such addresses has exceeded 93% of all BTC addresses. Moreover, on July 20, there were no more than 72% of such addresses. The last time over 90% of addresses…

Iran allows bitcoin mining at local power plants

Cryptocurrency NewsBy 31/07/2020

Iran has allowed large-scale BTC mining operations at power plants. Interested businesses will have to follow certain rules, some of them have already applied for mining. According to local Irna News, Iran has allowed the country’s largest power plant operators to deploy and operate Bitcoin mining farms subject to certain rules. Mostafa Rajabi Mashhadi, deputy head of Iran’s national electricity council, Tavanir, said power plants can mine BTC if they comply with regulatory requirements, obtain…

Tether releases USDT for another $ 540 million amid bitcoin growth

Cryptocurrency NewsBy 30/07/2020

Over the past three days, Tether has issued USDT stablecoins totaling $ 540 million on the Tron and Ethereum blockchains, according to Whale Alert. According to the analytical service Whale Alert, on July 29, USDT worth $ 300 million was issued on the Tron blockchain. In addition, on July 22 and 23, the service recorded two more operations to issue USDT stablecoins on the Ethereum blockchain. Each of them was the equivalent of $ 120…

Chinese Community Launches TON Community Testnet

Cryptocurrency NewsBy 29/07/2020

The Chinese TON community announced the launch of the TON Community blockchain test network, created on the basis of Telegram developments, and the distribution of 10 million TONcoins. Chinese TON Community project founder Tooz Wu said the testnet is called “testnet3” and is based on the official Telegram Open Network (TON) test network, often called “testnet2”. Since the developer of TON said that the platform’s testnet would be closed by August 1, 2020, the Chinese…

Chainalysis: 892,000 BTC linked to illegal activities

Cryptocurrency NewsBy 29/07/2020

According to analysts, 892,000 BTC are associated with illegal activities and are in the darknet markets, in the hands of scammers or hackers. That being said, most of these BTC end up on cryptocurrency exchanges. According to the analytical company Chainalysis, there are about 585,000 BTC on the darknet markets, cryptocurrency scammers control about 99,000 BTC, and 205,000 BTC were stolen by cybercriminals. Another 3,000 BTC is controlled by other users associated with criminal activity.…

R3 Corda Platform will implement DAML Smart Contract Language

Cryptocurrency NewsBy 29/07/2020

R3’s Corda Enterprise platform integrates the Digital Asset Modeling Language (DAML) smart contract language developed by American startup Digital Asset. Currently, Corda developers can only create applications using the Kotlin language created by JetBrains. The code of this programming language is executed in Javascript and the Java virtual machine. DAML was created in 2016. It is intended for financial institutions, and is used to draw up and execute agreements using distributed ledger technology. Digital Asset…

Dash Developers have released an update for Dash Platform v0.14

Cryptocurrency NewsBy 28/07/2020

The Dash Core Group recently released Dash Platform v0.14, and are planning to roll out another update to the platform towards the end of August. The Dash Core Group announced Dash Platform v0.14 on their blog last week. This release was the third in the updated regulated development process, and the fifth overall. According to the developers, new functionality will be added approximately every six weeks, and the next update will be released between August…

Free TON project: how to purchase Crystal tokens and become a validator?

Cryptocurrency NewsBy 28/07/2020

The Free TON blockchain with the native TON Crystal token is ready to continue the story of Pavel Durov’s failed project. At the end of May, it became known that Telegram was stopping work on the TON project and the GRAM cryptocurrency due to pressure from the SEC, the US stock market regulator. Developers from TON Labs, together with other companies, decided to continue working on the launch of the network, but under a different…

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