Weekend Roundup: The BlockNet, Funding Continues for Payment Processors, and Chinese Miners Are About to Eat Everyone’s Lunch
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....
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Yesterday, Caixin reported that the PBOC, led by the Payment and Clearing Organization of China, has been having meetings and interviews with commercial banks, third party payment processors, and Bitcoin exchanges within China. PBOC officials made it very clear that they wished to completely cut off the funding line of Chinese RMB into Bitcoin trading platforms around the country. The renewed interest in Bitcoin by the PBOC has led to funding shuffles from every Chinese Bitcoin exchange. Cryptocurrency exchange rates across the board have suffered since the first rumors of renewed the....
Caixin is a respected Chinese financial news source. Bitcoin prices have dropped nearly 10% across all Bitcoin exchanges, with the bulk of the action understandably located on Chinese Bitcoin Exchanges. A few hours ago, Caixin published a Chinese article claiming that the PBOC has met with commercial banks and third party payment processors, in particular those that do, or have done, business with Chinese Bitcoin Exchanges to remind them of the PBOC's stance. This Caixin article is written by a different author than the last Caixin article that was commented on in Western media (which....
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....
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.....