About Author:
1 Confirmation with Jeff and Dave
Aisshwarya is currently working as SAP finance consultant for an IT consultancy. He likes to read about tech (fintech in particular) and history during his free time. He also likes to make 8-bit music.
According to a patent filing published November 13, 2018, by the U.S. Patent and Trademark Office (USPTO), American print and digital documents solutions company Xerox has won a patent for a DLT-based auditing system that tracks revisions to electronic documents. Increased Authenticity of Electronic Documents Per the filing, the patent...
According to 1ML.com, a search engine dedicated solely to Lightning Network metrics, the second layer, off-chain scaling solution for bitcoin has reached a new milestone, as it passed 4000 nodes for the first time at press time, November 14, 2018. Lightning Network Takes a Charge Bitcoin’s second layer solution created...
Mining the cryptocurrency ether (ETH) using high-powered computer systems is no longer profitable, stated a CNBC report on November 13, 2018. Individual Mining no Longer Profitable If a recent report by CNBC is to be believed, cryptocurrency’s gold mining days might be a story of the past, as the activity is no...
According to a report by Bloomberg, published November 13, 2018, U.S. resident named Joseph Kim has been fined $1.1 million and sentenced to 15 months in prison for orchestrating fraudulent schemes related to bitcoin (BTC), and litecoin (LTC), thus duping his employer and several other customers of their money. Illegal...
According to the U.S. Patent and Trademark Office, the Jeff Bezos-led Amazon has won two patents related to cryptography and leveraging the DLT storage functionality. The two patents were published online, November 13, 2018. First Patent Suggests Own Tweaks to Merkle Tree Structure The first patent document, filed on April...
Kaspersky Lab’s cyber threat and research arm Securelist published a report on November 13, 2018, which provides details on the rising trend of cyber attacks on cryptocurrency exchanges in Q3 2018. The report also mentions prominent cyber attack groups including Lazarus as well as observing massive growth in crypto mining...
Ahead of Bitcoin Cash’s (BCH) impending fork on November 15, 2018, miners maintaining the network may be taking two different paths for the protocol if data from Coin Dance is considered. Competition in Decentralization The two teams, Bitcoin ABC and Bitcoin SV, led by Bitcoin Cash proponent Roger Ver and...
The Isle of Man’s financial watchdog the Isle of Man Financial Services Authority (IOMFSA) has revised its registration policy with regard to businesses operating in the cryptocurrency industry, reports Mondaq, November 13, 2018. Increased Supervision over Crypto Businesses According to the updated registration policy, with effect from October 5, 2018,...
A blockchain technology-based platform backed by global oil and energy giants BP, Shell, and Equinor is poised to go live by the end of the year, reports S&P Global, November 12, 2018. Aim to Modernize Physical Energy Post-trade Processes In the 21st-century trade world, the global energy and oil industry...
Hong Kong-based cryptocurrency exchange platform Bitfinex announced its updated fee structure for high frequency/size fiat withdrawals, through a blog post published November 11, 2018. Notably, regular withdrawals are unaffected by this change. A Step Backward? One of the characteristics that make cryptocurrencies tower over the conventional medium of exchanges is...
Memes have steadily found their way from 4chan boards and reddit subs into the mainstream culture. Nobody expected a picture with text on it to be the preferred means of breaking the ice or communicating with someone else on the other side of the world. On closer inspection, it’s not...
X8 AG, a Swiss financial technology firm has successfully obtained Islamic scholars certification for its fiat and gold-backed cryptocurrency from Shariyah Review Bureau (SRB), an Islamic advisory firm licensed by the central bank of Bahrain, Reuters reports, November 12, 2018. Plans to Expand into the Middle East Seeing the burgeoning...
Japan’s IT behemoth GMO published its Q3 2018 financial report on November 12, 2018, which reveals the company’s “historical performance” in its cryptocurrency business line. According to the report, the firm’s crypto segment earned revenue more than JPY 2.6 billion ($22.8 million) “despite the harsh external environment.” Crunching the Numbers...
Gold-backed AurumCoin is the latest cryptocurrency project to fall victim to 51 percent attack, resulting in the loss of AUD$ 15752.26, per a report by Finder on November 12, 2018. Hack Attack Results in Blame Game Shortly after the hack attack, AurumCoin’s twitter handle subtly sparked the blame game stating...
According to an article by Venture Beat, published November 11, 2018, cryptocurrency traders in the U.S. have found a lending loophole to avoid taxation on their digital currency transactions. Evade Taxes by Loaning out Equivalent Amount Taxation has been one larger problems facing the cryptocurrency industry since it came into...
