Blockchain Daily News – Edition 11, 18.07.2017
July 18, 2017
Blockchain Daily News – Edition 13, 20.07.2017
July 20, 2017

Blockchain Daily News – Edition 12, 19.07.2017

Blockchain Daily News

by Florin Oprea

Edition 12, 19.07.2017

Breaking News!

Hackers Just Stole $7 Million in a Brazen Ethereum Cryptocurrency Heist

Jen Wieczner –  Fortune

Hackers hijacked cryptocurrency trading platform CoinDash on Monday just as it was in the middle of its initial coin offering, or ICO. It’s the first known breach of an ICO, this season’s hottest fundraising method.

PHILIPP SANDNER, Frankfurt School Blockchain Center: It is sad to see how a long planned ICO can go bust in a few days. These security issues is the reason, why regulation is needed. Not the ICO per se. Same with all the crypto exchanges.

FAO: Frequency of attacks increases. Only two weeks ago we reported about another attack…

Deals, Investments & M&As

Tech Start-Ups Raise $1.3bn This Year From Initial Coin Offerings

Financial Times (subscription)

Almost $1.3bn has been raised so far this year by start-up technology companies via “initial coin offerings”, the blockchain community’s version of crowdfunding, according to a new report from Autonomous, the financial research provider.

FAO: Quite a number. 3 companies raised almost half of that: Bancor $150m (reported here), Block.one $185m (reported here) and Tezos’ $232 mln (reported here).

Ethereum Co-Founder Says Crypto Coin Market Is A Time-Bomb

Camila Russo – Bloomberg

Initial coin offerings have caught so much attention that even one co-founder of the ethereum network, Charles Hoskinson, says it’s time for things to cool down in a big way.

DNT: A quite unexpected statement, but all investors in digital coins ought to take risk into consideration.

This Hot Digital Currency Trend Is Minting Millions, But US Investors Aren’t Allowed To Play

Evelyn Cheng – CNBC

For all the hype in the digital currency world about so-called ICOs, U.S. investors often can’t officially participate.

Cryptocurrencies

Bitcoin Soars As Miners Finally Move To Solve The Digital Currency’s Scaling Problem

Luke Graham – CNBC

Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.

FAO: Uncertainty about BTC brought volatility in crypto markets in the last weeks.

Ripple’s Network Passes 50-Validator Milestone

Michael del Castillo – CoinDesk

Since May, the inter-bank payments startup has grown its validator network by 140% to include 55 participants, all of whom are now maintaining the integrity of the XRP Ledger (formerly the Ripple Consensus Ledger), running software that helps it agree on the order in which transactions are settled.

Newly revealed validators include WorldLink, Telindus-Proximus Group, Swedish ISP, Bahnhof and AT TOKYO Corporation, a data center and systems integration service provider.

FAO: Whooa.

Exchanges & Trading Venues

Suddenly, Bitcoin Hard Fork Looks Unlikely As Chinese Exchange Readies For SegWit

William Suberg – Cointelegraph

Chinese exchange OKCoin has confirmed it will halt trading over the SegWit lock-in period as a hard fork appears less likely.

Vendors

SatoshiPay To Stop Using Bitcoin Blockchain For Micropayments

Chuan Tian –  CoinDesk

Micropayments startup SatoshiPay has announced it intends to phase out its use of the bitcoin blockchain as the underlying technology that enables its transactions.

FAO: SatoshiPay was backed by Blue Star Capital in January 2017.

BitPeople

Former Morgan Stanley CEO Eyes Cryptocurrency Investment Vehicle

Alexander Geralis – Cointelegraph

As the market matures and lures more traditional finance professionals, investors like John Mack see a gap in accessibility. Mack is putting money down in what he believes to be the right places – expect ICO later this year.

FAO: List of finance professionals now focusing on crypto markets is steadily growing.

Analysis

Recent Cointelegraph Survey Regarding Ethereum Price Collapse

Jon Buck – Cointelegraph

Any time there’s a major correction or major upsurge in values for any market, opinions and tempers flare about what could have caused it? When prices plummet, people tend to get especially upset.

PHILIPP SANDNER, Frankfurt School Blockchain Center: Excess volatility is caused mainly by (1) masses of naive market participants and (2) margin traders (a.k.a. speculators) – it is like roller coaster.

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News