Privacy-Focused Coin Zcash Forks Into New Blockchain Network Ycash

Ycash - YEC

Privacy-focused digital currency Zcash (ZEC) has forked into a new blockchain network dubbed Ycash, whose total supply amounts to 21 million coins. According to a tweet by the Ycash Foundation, the first block of Ycash was mined today, July 19, at 7:36:51 PM PDT. Ycash forked off Zcash blockchain at block height 570,000 and is independent from both the Electric Coin Company, the firm behind Zcash, and the Zcash Foundation. The Ycash project was initially announced in April, when the Ycash team member Howard Loo revealed in a forum post…

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BitTorrent, Tron Launch Crypto-Powered ‘Speed’ Downloading Software

BitTorrent BTT crypto world

Peer-to-peer torrent client BitTorrent has launched its downloads optimization software, BitTorrent Speed, with native token functionality. The news was revealed in an official press release. As reported, Bittorrent launched a native Tron blockchain-based token, BitTorrent (BTT), at the start of this year, having revealed plans to evolve a tokenized content platform that would enable users to optimize their network speed and attain faster downloads. As per the press release, the Bittorrent Speed software will now be integrated into all new downloads of the company’s µTorrent Classic Windows client. The BitTorrent…

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Bitfinex to Use 27% of Tokinex Revenue to Burn LEO Tokens

LEO token burn

Bitfinex cryptocurrency exchange announced that it will spend 27% of past and future Tokinex revenue on burning LEO tokens, according to an official blog post on July 8. Bitfinex unveiled LEO in May as the native utility token for its initial exchange offering (IEO) platform Tokinex. Parent company iFinex committed to burning LEO tokens, until commercial circulation runs dry, in the LEO token whitepaper: “On a monthly basis, iFinex and its affiliates will buy back LEO from the market equal to a minimum of 27% of the consolidated gross revenues…

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China’s Central Bank Developing Own Digital Currency in Response to Libra

cryptocurrency

China’s central bank is reportedly developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system, the South China Morning Post reported on July 8. Wang Xin, director of the People’s Bank of China (PBoC) research bureau, argued that “if [Libra] is widely used for payments, cross-border payments in particular, would it be able to function like money and accordingly have a large influence on monetary policy, financial stability and the international monetary system?” Wang said that the…

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Bing ban for 500,000 cryptocurrency ads

Bing ads ban

Microsoft’s internet browser Bing blocked more than 5 million cryptocurrency ads last year. The data was revealed in Microsoft’s annual review of advertising quality. Microsoft explained that digital advertising is a powerful and open channel. “it is also prone to abuse by bad actors trying to defraud and deceive users by delivering harmful and misleading ads, with persuasive content and innocent looking links that lead to phishing, malware attacks and other types of fraud,” said the report. In 2018, Microsoft suspended nearly 200,000 accounts and removed 900 million bad ads…

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Facebook’s cryptocurrency partners revealed

Facebook crypto coin blockchain

Facebook has been quietly building out its cryptocurrency for over a year, and it looks like that time has been well spent, enlisting the support of some of the most prominent companies across payments, retail, and technology. As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Foundation, which includes the likes of Visa, Mastercard, and PayPal. But The Block has gotten its hands on consortium marketing materials and can now report dozens of firms not previously known…

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Crypto exchange Bittrex to block US users from trading in 32 cryptos

Bittrex to block US users

Cryptocurrency exchange Bittrex announced that it will block its United States-based users from trading in 32 cryptocurrencies. The exchange revealed the news in a post on its blog on June 7. Per the announcement, after June 21, U.S. traders won’t be able to access a slew of coins listed on the exchange, including QTUM and STORJ. The exchange noted that U.S. users will receive an email with explanations concerning what they are and are not allowed to do with the aforementioned assets. The options cited by the exchange include selling…

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Russia may build offshore destination for cryptocurrencies, exchanges and forex

Russia may build offshore destination

Russia may build a large financial center on the island of Bolshoy Ussuriysky, according to a report by the state-run TASS news agency on June 8. Leonid Petukhov, who heads the Far Eastern Agency for Attracting Investments and Supporting Exports, said the island could become an offshore destination for cryptocurrencies, crypto exchanges and forex markets. Bolshoy Ussuriysky lies on the border between Russia and China, with western parts of the long-disputed territory transferred to Beijing following a 2004 agreement. Petukhov made his statements while speaking to TASS at the St.…

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Using Bitcoins may earn you a 10-year jail sentence

Bitcoin jail

In a move that’s likely to cause huge disappointment, the government has proposed a 10-year prison sentence for persons who ‘mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies. In a move that’s likely to cause huge disappointment, the government has proposed a 10-year prison sentence for persons who ‘mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies. A new draft bill The Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 has proposed a 10-year prison sentence for anyone dealing with cryptocurrencies. The…

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Yahoo Japan-Backed Crypto Exchange Taotao Launches This Week

#TAOTAO

A new crypto exchange platform in which Yahoo Japan owns a major stake is about to launch after over a year in development. The new platform, called Taotao, announced on Twitter Sunday that it will go live on Thursday, May 30, at midday local time. According to the Taotao website, the exchange will be offering a mobile app alongside its online platform, and will offer trading in bitcoin (BTC) and ether (ETH) at launch. The firm will also be making leverage available for interested traders, with three more cryptos added…

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Cryptocurrency Transactions Now Available On WhatsApp

Whatsapp crypto

You will probably have heard of WhatsApp. It’s one of the most popular apps out there today that is free to use, cross-platform and used by millions worldwide. Well, we say millions but in fact, more than one billion people across 180 countries use the app. Users the messaging app will now be able to both send and receive cryptocurrencies thanks to the Lite.Im bot. There will only be two cryptocurrencies available for the time being but ass the system starts to gain traction, other digital tokens are anticipated to…

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Just 732,000 addresses own at least 1 BTC

Bitcoin owners

There are currently 732,982 Bitcoin addresses that hold more than 1 BTC. Compared to the over 20 million known addresses, this figure represents a small amount of “whole bitcoin” owners. The basic definition of money covers a unit of account, medium of exchange, and a store of value. There is hardly any doubt as to whether BTC satisfies the first two even if the mechanics behind its operation might not be efficient at times. Bitcoin’s final hurdle is in being a store of value (SoV) putting it in the company…

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Poloniex Now Offers Bitcoin Margin Trading for 14 Altcoins

Poloniex new pairs

Last week, Circle’s cryptocurrency exchange subsidiary, Poloniex, added Bitcoin-based margin trading for Bitcoin Cash (BCH) and Bitcoin SV, bringing the total altcoins available for with leverage to 14. According to the announcement, the following altcoins are now available: Bitcoin Cash, Bitcoin SV, Ethereum Classic (ETC), XRP (XRP), Ethereum (ETH), Monero (XMR), Factom (FCT), Litecoin (LTC), Bitshares (BTS), Dogecoin (DOGE), Dash (DASH), MaidSafeCoin (MAID), STR and Clams (CLAM). “Bitcoin Cash and Bitcoin SV won’t be the last, either, because we are working on adding other tokens and base pairs for margin,”…

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ING Bank Releases Blockchain Privacy Tool Bulletproofs

ING Bank lion

Dutch global banking and financial services corporation ING introduced its new cryptographic blockchain development called Bulletproofs. Bulletproofs represents an extended technology for ING’s previous blockchain privacy-focused developments such as zero-knowledge range proof (ZKRP) and zero-knowledge set membership (ZKSM). ING bank first launched ZKRP in November 2017, enabling market participants to maintain anonymity in a transaction while still confirming its accuracy. For instance, the tool allowed a mortgage applicant to prove their salary within a certain range without revealing the exact figure. As an improved version of ZKRP, ZKSM was released…

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Coinbase Crypto Exchange Debuts Visa Card for UK Customers

Coinbase Card

Major American cryptocurrency exchange Coinbase has launched Coinbase Card, that enables its United Kingdom-based customers to pay in-store and online with cryptocurrency. The development was announced in a blog post published on April 10. The Coinbase Card is a Visa debit card powered by customers’ Coinbase account crypto balances, which allows them to make purchases with digital currencies worldwide. Coinbase instantly converts customers’ cryptocurrency funds into fiat currency in order to complete the purchase. Coinbase also released the Coinbase Card app for iOS and Android, which links customers’ Coinbase accounts…

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