Blockchain Market Update – January 14, 2019

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January 14, 2019 by
Blockchain Market Update – January 14, 2019

ETC MiningETC block rewards seeing large volatility, with miners receiving as much as 424 ETC per block, rather than the usual 4 ETC. According to security firm PeckShield, volatility caused by transactions with large transaction fees, with actual block rewards staying at 4 ETC. On Jan. 13, several transactions with ultra-high fees were made, although reasons for these transactions are still unclear—Mining

Euro Exim BankTo start using XRP and Ripple’s xRapid in weeks, before end of Q1 this year.  Plan to use platform to facilitate bank transfers in more than 80 countries and made it clear that this is not proof-of-concept nor a test; this is an official implementation—Project Development

WyomingPassed 2 new house bills that aim to develop regulatory environment conducive for cryptocurrency and blockchain innovation. One bill lets blockchain startups operate within regulatory sandbox and other clarifies asset class of open blockchain tokens—Regulation

Kotak Mahindra BankIndia’s second largest bank is allegedly requiring account holders to refrain from engaging with cryptos under threat of account closures—Financial Institution

Dash: Dash Core Group addresses community concerns over wallet addresses controlling 51% of all Dash mining hashrates. Core Group is aware of situation and believes addresses in question neither plans nor wants to attack because their mining activities beginning 4 months ago is publicly published. Additionally, technologies set in place mean miners need to reorganize more than 24 blocks deep to do a double-spend. With more developments on their ChainLock technology, they aim to make it even more difficult to perform 51% attacks on their chain—Other

BitmainShelving plans to create mega BTC mining facility in Rockdale, Texas. They had hoped to build one of largest BTC mining centers in North America and planned to open by 2019—Project Development

EthereumAccording to Vitalik Buterin, Casper may launch its testnet this year if developer team operates well. Additionally, because of Beacon chain, Ethereum 2.0 will be able to manage Casper’s PoS protocol and all sharding chains—Project Development

Genesis TradingOTC digital asset platform reported a 50% year-over-year increase in its trading volume, especially despite the continual bearish trend on the markets that started 2018—Other

Chinese Mining Farms: Viruses targeting mining farms continue to proliferate across China. One notable virus is dubbed “hAnt,” which specifically targets Antminers. Virus overrides management dashboard of mining rigs and directs farm owner to transmit virus to another 1,000 mining rigs or pay a ransom of 10 BTC under threat of burning down entire mining farm by switching off overheat protection function. Although fix is a simple OS reinstall, doing so costs time and money for miner—Mining

tZERO:’s blockchain subsidiary completes issuance of tZERO security tokens, issued to investors who fully executed Simple Agreements for Future Equity. STO was done from Dec. 2017 to Aug. 2018, raising $132M from 1,000 global investors—Project Development

Tron: Simon Morris, formerly BitTorrent’s chief strategy officer, expresses doubt over Tron’s capability to process vast number of transactions BitTorrent will demand. Believes there is more marketing than technology behind launch of BitTorrent token—Other

FarmEOSNotable dApp game was attacked via smart contract hack. Attack lasted only 7 minutes, but yielded more than 5,000 EOS and was promptly moved to exchange for laundering. Security firm SlowMist has reached out to exchange in question. FarmEOS has automatically suspended its services when alarm was triggered by attack—Other

AtomicPay: Thai startup launches non-custodial crypto payment terminal for merchants worldwide, supporting BTC, BCH, LTC and other cryptos. Founder and developer Benz Rif says platform does not work as financial custodian like Paypal or BitPay. From start to end of payment, no funds go through Atomicpay and neither do they hold any funds belonging to retailers—Project Development

MalaysiaGov’t is reportedly still undecided on whether to legalize cryptocurrencies. When answering a query about whether digital currencies are currently legal or illegal, Khalid Abdul Samad, Minister of Federal Territories, said: “At the moment, the answer is neither legal nor illegal as the situation is still unclear”—Regulation

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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