CRYPTO WEEKLY 12th June 2018 – Market News

 

THE MARKETS

  • BTC: $6,850.07 | -$553.34 (-7.47%) since last week
  • ETH: $531.79 | -$52.20 (-8.94%) since last week
  • LTC: $107.80 | -$9.59 (-8.17%) since last week

Korean exchange Coinrail has lost $40M in tokens following a significant hack
Despite being a relatively small exchange, Coinrail has been under siege by a massive hacking attempt in recent days, losing more than $40M in cryptocurrencies. The tokens stolen from the South Korean exchange were primarily from Pundi X’s ICO, as well as from Aston X, a document decentralization platform.

Ripple and Swift are in a battle for cross-border payments supremacy
For decades, the cross-border payments space has been held in a near-monopoly by interbank messaging service Swift – but that’s set to change with the arrival of Ripple, which has been rapidly forging partnerships with key international banks to advance the rollout of its blockchain-based payments service.

Here’s why its worth keeping in mind that Bitcoin and blockchain both have economic limits
For investors considering taking a larger position in Bitcoin, it’s worth keeping in mind that economic limits still prevail over the cryptocurrency. There are other vulnerabilities, too – if Bitcoin or another cryptocurrency became a internationally-recognized store of value, it will become exponentially more vulnerable to hacking attempts than it already is today.

This African startup is tackling some of Ethereum’s biggest scaling issues
South Africa-based Wala has found a way to turn Ethereum into a true payments system that works flawlessly, even in developing markets. The startup is already facilitating thousands of transactions daily for citizens across southern Africa, and leverages microraiden technology to circumvent Ethereum’s transaction fees.

Too much centralization just might be able to bring Bitcoin down
Despite being decentralized, too much Bitcoin mining has the potential to unleash “hidden centralization” that could enable entities with adequate hashing power to bring down (or take over) the entire Bitcoin network. In addition, many experts suspect Bitmain of being behind recent attacks on Bitcoin, on account of its outsized hashing power.

Here are all the secrets and Easter eggs from EOS’s mainnet release
EOS’s long-anticipated mainnet release has finally launched, and there are a number of secrets to be found in the platform’s code as well. In this piece, a member of the EOS development team also gives more insight into the mainnet boot process, and how the launch was finally executed as well.

Inside the current state of blockchain’s impact on the automotive industry
The use of blockchain technology in the automotive industry is an intriguing topic, precisely because it receives so little attention (and funding today). But several startups are working on a blockchain-based OS for automobiles, and still others are considering creating a crypto payments service for in-car purchases.

When thinking about investing in Bitcoin, these are the investment theses worth considering
In this first part of a multi-part series, crypto advisor Pierre Rochard unpacks each of the major investment theses for Bitcoin, and what the implications of each one are for investors. This part of the series focuses on the investment thesis supporting a short holding period (from an investment perspective) with wide adoption.

Art is becoming a financial product, and blockchain technology is making it happen
As art prices continue to soar (particularly on the higher end of the market, blockchain technology seems poised to take advantage of this boom while turning art into a truly financialized product. At least one startup (Maecenas) is already doing this, having recently turned an Andy Warhol painting into a tokenized asset that can be bought and sold on its trading platform.

Apple is moving to ban on-device crypto mining across all devices
In a move that significantly alters the crypto app landscape for Apple products, the consumer electronics giant has issues formal guidelines around the use of crypto apps on its devices. Of particular note, Apple is now banning all on-device crypto mining apps across iOS and macOS devices – but cloud-based mining software will still be allowed to run.

COMMUNITY NEWS

  • Meet TokenDemoDay –  A one-day virtual conference featuring some of the hottest token projects that will reshape our future. Link
  • 20 blockchain companies in Singapore you should get to know. Link
  • Binance is set to offer euro trading pairs later this year. Link
  • The island of Jersey has signed an MOU with Binance for further collaboration. Link
  • Hone your Bitcoin investing skills in this simple investing game. Link
  • One Swiss city is putting its entire voting system on the Ethereum blockchain. Link
  • Bitmain has raised $400M in a new funding round, now valued at $12B. Link
  • Coinbase will be adding support for Ethereum Classic to its crypto wallet. Link
  • IOHK is looking to hire a remote Senior Events Manager. Link
  • Malta is piloting a blockchain-based credentials program. Link
  • This mystery startup is aiming to raise $180M in its ICO. Link
Thanks to Chainfuel for sponsoring this newsletter edition.
Edited by Chris Osborne in Barcelona (in town? reach out to get a coffee). Check out CryptoList if you haven’t already. More info on sponsoring a future edition of CryptoWeekly can be found here. Reply to this email if you have any feedback and/or suggestions. Thanks for reading.

Nothing shared or published by CryptoWeekly constitutes an investment recommendation, nor should any data or content published by CryptoWeekly be relied upon for any investment activities. CryptoWeekly strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

Copyright © 2018 CryptoWeekly. All rights reserved.

 


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