Weekend Roundup: Singapore to Become Asia's Blockchain Hub, Blocknet Launches Think Tank
Thai police have arrested four executives of UFun Store Co. Ltd., a business that operates a massive pyramid scheme. The company has reportedly made some 14,700 victims from Thailand, Malaysia and Indonesia, with an estimate of 10 billion baht (US$307 million) in possible damages. Members of the scheme were asked to persuade others to join by buying UToken, a virtual currency issued by the company and used to buy products on UFun Store. "Yes, absolutely. This is a little technical, but the bottom line is that the processor which Ethereum runs on, the Ethereum Virtual Machine [EVM] has a....
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The Blocknet, which touts itself as an advancement in cryptographic technology, has begun offering peer-to-peer (p2p), cross-chain communication, marking the first stage of a new era in p2p protocol between nodes on different blockchains. The Blocknet describes itself as the "internet of blockchains," enabling open-ended communication and delivery of services between users of different cryptocurrencies, and vastly increasing the user base (and profit potential) of any given coin. In addition to announcing the availability of its first stage services, Blocknet invites any interested party....
This article was updated at 11:20am EST to include a quote from Ethereum's Business and Partnerships Director, George Hallam and was updated at 11:54am to indicate that Blocknet's decentralized exchange is planning to launch in alpha form, not its full release. In a surprise announcement and CoinTelegraph exclusive, the Blocknet will be adding Ethereum onto its inter-blockchain network. Ethereum will be bringing its powerful decentralized apps and smart contract features to the inter-blockchain network, along with Ethereum's cryptocurrency, Ether, once the genesis block launches.....
A few projects are working to get the various blockchains out there to talk among one another, and XCurrency unveiled the details of its own project Monday, Ian DeMartino reported. On Monday, Diana Ngo reported on some big developments from China’s cryptocurrency mining industry. We are combining these two stories because they are examples of a larger trend: Capital is pouring into payment platforms right now. “Every time a coin joins BlockNet, every other coin in the network can use its features. Ideally, this means that the isolated laboratories that altcoins currently serve as can now....
As security of cryptocurrency exchanges is being increasingly questioned in the wake of the recent Bitfinex hack, the developers at Blocknet are calling for an exodus to leave centralized exchanges behind. ‘It’s Time to Remedy the Problem’ – Blocknet. This year there has been quite a few breaches of cryptocurrency exchanges. Platforms such as Gatecoin,....
Grayscale Investment’s Bitcoin Investment Trust (BIT) began trading in May with the ticker GBTC. Over the last few days, the price of BIT surged, and at one point traded at US$133.70 per share. SpectroCoin has integrated with mobile payment network Worapay, to allow users in Latvia, Lithuania and Estonia to pay with bitcoins at Lukoil gas stations. Blocknet will be adding Ethereum onto its inter-blockchain network. Ethereum will bring its decentralized apps and smart contract features to the inter-blockchain network, along with its cryptocurrency, Ether. "A share of GBTC is equivalent to....