Craig Wright lies about Dave Kleiman’s death

According to an excerpt from an upcoming documentary, Craig Wright claimed that his former partner Dave Kleiman overdosed on drugs he had bought on the Silk Road. However, Kleiman’s publicly accessible death certificate shows that he died from coronary artery disease.

Wright claims former partner Dave Kleiman overdosed

Craig Wright, the chief scientist at nChain and the self-proclaimed creator of Bitcoin, has been caught red-handed lying about the death of his former partner and associate. In an excerpt from an upcoming documentary called “Cryptonaires,” Wright is seen discussing potential use cases for blockchain.

Plantholt’s interview with Wright is set to be featured in the upcoming “Cryptonaires” documentary, which contains interviews with leading industry figures such as Charles Hoskinson, Justin Sun, Jed McCaleb, and others. The interview was recorded earlier this month in London during the CoinGeek London conference.

According to Wright, one of the many uses for the technology underlying Bitcoin is keeping an immutable ledger of patient records, which could be used to curb the growing number of people addicted to prescription drugs such as oxycontin.

The issue, Wright said, was close to his heart as his former partner Dave Kleiman died of a drug overdose. Wright and Kleiman were involved in a number of companies together and have reportedly mined over 1 million Bitcoins until Kleiman’s death in 2013.

Wright told host Dustin Plantholt:

“The way he died, not much is talked about, but he actually died from a drug overdose from drugs he bought on Silk Road.”

https://twitter.com/LifesToughMedi1/status/1231392769056350209

Death certificate shows Kleiman died from heart disease

Dave Kleiman’s death, while untimely, hasn’t been caused by a drug overdose. The confusion surrounding the circumstances of Kleiman’s death was a fertile ground for Wright’s lies—back in 2015, Kleiman’s partner Carter Conrad told Gizmodo that he remembers hearing Kleiman had died from an MRSA infection. Gizmodo’s investigation also showed other mysterious circumstances surrounding Kleiman’s death, as he was reportedly found next to a loaded gun that had been fired into a mattress.

However, Kleiman’s official death certificate debunks all of these theories. The publicly accessible obituary states the cause of death as coronary artery disease. In the report, medical examiner Reinhard Motte said that a branch of Kleiman’s left coronary artery was critically narrowed, reducing the flow of blood to his heart and ultimately causing his death. The report also noted that the wheelchair-bound Kleiman suffered from obesity.

The toxicology report found minor amounts of ethanol and nordiazepam, a drug used to treat anxiety, in his blood.

While elaborate deceits and complex schemes have been synonymous with Wright, his latest lie is by far his most troubling one. It shows Wright is capable of exploiting the death of his former associate to push his agenda by getting sympathy points.

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Cardano-parent IOHK says the Ouroboros BFT is ready to be deployed

IOHK, the company behind Cardano, announced that it will be updating its Ouroboros, its proof-of-stake (PoS) protocol, from the Byron mainnet to the Ouroboros BFT. The update has been successfully tested and will be deployed on Feb. 20. ADA holders and users of the Shelley Incentivized Testnet will experience no changes during the update, the company said.

Ouroboros ready to be deployed on the Byron mainnet

In a culmination of more than a year of work, IOHK has announced that its advanced proof-of-stake (PoS) protocol Ouroboros is ready to be deployed. The protocol, which will act as a bridge between Cardano’s Byron and Shelley eras, is set to be updated to Ouroboros BFT.

According to a video update from Tim Harrison, the director of communications at IOHK, the company has successfully tested Ouroboros on the Byron testnet. It will be deployed on Feb. 20, on epoch 176, Harrison said. Epochs are periods of time in the Cardano blockchain in which the network knows in advance who will have the right to generate a new block. Epochs are divided into multiple slots, each one about 20 seconds long.

He noted that those holding ADA will not have to do anything to prepare for the update, as it will happen behind the scenes. Users currently participating in the Shelley Incentivized Testnet, as well as users holding their funds on the Yoroi and Daedalus wallets also won’t be affected by the update.

“So this is a really positive next step in the development of the Cardano platform, but it’s also something that’s happening very much behind the scenes,” Harrison said in a YouTube video.

Bridging the gap between Byron and Shelley eras

The Ouroboros Byzantine Fault Tolerance (BFT) protocol update is an important step both for IOHK and the Cardano network. The update will help the company transition the Cardano blockchain from the Ouroboros Classic consensus protocol, which is currently being used on the Byron mainnet, to the Ouroboros Genesis—a protocol that will power the Shelley mainnet once it’s launched.

Harrison called Ouroboros BFT a “stepping stone in compatibility” that will enable the evolution of Cardano. It will transition the blockchain from it’s federated Byron era to the decentralized, proof-of-stake network that Shelley will bring.

While the company refers to the update as a “hard fork,” it’s actually a protocol update that has been planned and managed all the way back in Cardano’s whitepaper.

Harrison’s video update is also worth mentioning in itself, as it shows that IOHK has kept its promise when it comes to improving communication with its community. The company is currently putting a lot of effort into both marketing and PR in order to promote the massive developments happening on the Cardano network.

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Korean crypto company Contents Protocol to shut down and refund 27000 ETH

Contents Protocol, a Korean crypto startup focused on content exchange, announced that it will shut down due to a lack of business prospects and regulatory uncertainties. In a rare bout of professionalism and solidarity, the company will be refunding their investors, distributing just under 27,000 ETH on a pro-rata basis.

Korean content exchange protocol shutting down after 14 months

A Korean company behind the premium decentralized content exchange Contents Protocol has announced that it will be shutting down. The young startup, which raised $10 million in ETH in its December 2018 token sale, has been around less than 14 months.

The project was created to collect consumer data from Korean content platforms such as WATCHA and WATCHA PLAY in order to create a better content production ecosystem. The company rewarded the platforms and their users for the collected data with its native cryptocurrency, the Contents Protocol token (CPT), which would later be processed to be sold to other content providers.

However, the company’s ambitious idea hit a brick wall shortly after its ICO ended as it became increasingly hard to encourage participation from content consumers. Contents Protocol said that the negative perception toward cryptocurrency, price volatility, and complicated user experience were the biggest problems it faced.

“In order to overcome these limitations, the team went through numerous trials and errors, but after serious deliberation, we decided that it would be best to put a stop to this business and return our remaining assets to CPT holders,” the company said in the announcement.

Rarely a crypto company willingly refunds investors

After advising with law firms from both Korea and Singapore, the company decided that all of its

remaining assets will be distributed to its users. The company raised a total of 29,333.77 ETH through the ICO and currently has 26,877.68 ETH available for distribution. As the current circulating supply of CPT is just under 3.2 billion tokens, investors will get around 0.84 ETH for 100,000 CPT.

Table showing the asset distribution ratio for Contents Protocol's funds
Table showing the asset distribution ratio for Contents Protocol’s funds. (Source: Contents Protocol)

“We will convert our remaining assets to ETH and distribute it on a pro-rata basis to CPT holders who have requested ETH compensation until a specified date.”

The company is set to go through a liquidation process and all the CPT it currently owns and collects through the process will be destroyed.

And while Contents Protocol isn’t the first, nor will it be the last company to shut down after the ICO book, the startup made the news due to its decision to refund investors—willingly.

The U.S. Securities and Exchange Commission (SEC) has so far ordered multiple companies to refund investors for selling unregulated cryptocurrencies via ICOs. Back in 2018, Pantera Capital Management estimated that a quarter of the ICOs it invested in could be forced to refund their backers.

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Cardano (ADA) sees huge YTD network activity growth

The Cardano (ADA) network has seen its network activity steadily rise this year, with metrics such as the number of daily active addresses, the total number of addresses, and the number of transactions all going up. According to data from IntoTheBlock, the network reached its ATH with almost 10,000 active addresses on Feb 12, which is a 319 percent increase since Jan. 1, 2020.

The Cardano network is thriving with a huge increase in activity

After years of research and slow development, the Cardano network is now closer than ever to being open for business. The launch of the incentivized testnet for the Shelley era of the Cardano blockchain incited a lot of the Cardano community to take action and participate in the network, leading to its immense success.

As time goes by, more and more users seem to be flocking to Cardano—2020 looks like it’s going to be a breakthrough year for the promising blockchain project.

According to data from IntoTheBlock, the blockchain has been thriving this year, seeing almost every network-related metric go up since the beginning of the year. In a Feb. 17 tweet, the company showed that the number of daily active addresses on Cardano reached their all-time-high on Feb. 12 with 9,760 addresses. This, the company said, represents a 319 percent increase from the 2,330 addresses that were active on Jan. 1.

Graph showing the number of daily active addresses for the Cardano network since Jan. 1, 2020
Graph showing the number of daily active addresses for the Cardano network since Jan. 1, 2020

Active address ratio went up

The active address ratio on the Cardano network has seen a 231 percent rise from the beginning of the year.

The network’s Jan. 1 active address ratio was 0.58 percent. On Feb. 17, the network saw an active address ratio of 1.93 percent. That means that 1.93 percent of the addresses on the network have made at least one transaction on Feb. 17.

Graph showing the active address ratio on the Cardano network from Jan. 1 to Feb. 17
Graph showing the active address ratio on the Cardano network from Jan. 1 to Feb. 17. (Source: IntoTheBlock)

The overall number of transactions on the network has also been on the rise, seeing an average of 3,610 transactions daily in the past week. The network’s 4,230 transactions recorded earlier this month represent a huge increase from the beginning of the year when the network dipped with around 1000 transactions.

Graph showing the total number of transactions on the Cardano network since Oct. 2017
Graph showing the total number of transactions on the Cardano network since Oct. 2017. (Source: IntoTheBlock)

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Craig Wright now claims Bitcoin is his intellectual property

Craig Wright claimed that Bitcoin is his intellectual property and that all of those that infringed on it (i.e. Bitcoin Core developers) are about to be legally prosecuted. The self-proclaimed Satoshi Nakamoto outlined other equally ridiculous ideas in his blog post, including that all nodes and miners in the Bitcoin network are his personal agents.

Wright puts Bitcoin Core and Bitcoin Cash developers on notice

Craig Wright is back in the news again, but this time it isn’t connected to his ongoing trial with Ira Kleiman. Instead, the self-proclaimed Satoshi Nakamoto is making headlines for his blog post, in which he threatened to sue the developers of Bitcoin Core and Bitcoin Cash.

In a Feb. 13 post on his website, Wright discussed, in length, his “original vision” for Bitcoin and how its forks have strayed from it. According to the post, as the “sole creator” of Bitcoin, he owns the full rights to the Bitcoin registry. That means that the software can be forked and alternative versions of it created as long as the underlying database is left intact, he explained.

Wright then went on to say that both Bitcoin and Bitcoin Cash, which he called Bitcoin Core (Core) and Bitcoin ABC (ABC), have sought to use his database without permission.

This, he said, is about to come to an end.

“Those involved with the copied systems that are passing themselves off as Bitcoin, namely BTC or CoreCoin and BCH or BCash, are hereby put on notice,” he said in the post. “Please trust me when I say that I’m far nicer before the lawyers get involved.”

Bitcoin’s decentralization claim is “cherry-picked out of context”

In a bid to provide backing to his ridiculous claim over the ownership of Bitcoin, Wright said that Bitcoin’s centralization is oversold. According to him, the abstract of the Bitcoin whitepaper, the one he claims to have written, is “cherry-picked out of context” and often leads to a false view—one that Bitcoin is a completely decentralized system with no point of ownership.

What Bitcoin is, he alleges, is a distributed registry whose property rights belong solely to him. Code, if you were to believe Wright, isn’t the law after all.

Screengrab showing the abstract of the Bitcoin whitepaper
Screengrab showing the abstract of the Bitcoin whitepaper

Throughout the blog post, Wright kept implying that the only ownership over the network was his. The nChain scientist quoted section 15 of the U.K. Databases Regulations of 1997, which said that the maker of a database is the first owner of a database, not its subsequent members. As such, he explained, miners and nodes have no rights.

“Nodes and miners are thus subcontracting in accordance with the initially constructed set of rules that I created. That is, they are following a set of rules and acting as my agents,” he wrote.

We are yet to see whether Wright goes ahead with the lawsuits against Bitcoin Core and Bitcoin

Cash developers. Having previously seen several of his lawsuits dismissed due to lack of jurisdiction, Wright seemed to have explored this issue in depth. He noted in the blog post that as senior partners in the Bitcoin Core and Bitcoin Cash “partnerships” reside within Europe and the U.K., which presents the opportunity to incorporate them in the lawsuit without any “jurisdictional challenges.

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Former eToro analyst Mati Greenspan announces launch of Quantum Economics

Quantum Economics, a money management and advisory company founded by former eToro senior analyst Mati Greenspan, has officially launched. In an exclusive press release shared with CryptoSlate, Greenspan said that Quantum Economics will feature a new service called “Analysis on Demand.”

Quantum Economics will incorporate advanced features and services ‘in their brand new website.’

Mati Greenspan
Mati Greenspan, Founder & CEO

In addition to previously-announced services like the Crypto Trading Masterclass, Quantum Economics users will now be able to copy Greenspan’s trades on eToro.

The analyst also revealed that the website will feature a new service called “Analysis on Demand.” The service is aimed at brokers and exchanges looking to increase customer engagement and will provide custom market analysis.

Quantum Economics clients will be able to request custom market-related content, including blog posts, newsletters, and research papers, specifically tailored to increase customer engagement.

Charles Bovaird, VP of Content
Charles Bovaird, VP of Content

To handle the increased workload, Greenspan has also expanded the Quantum Economics team, saying that four new members have already joined the project.

One of those members is Charles Bovaird, who will be Quantum Economics’ VP of content.

Bovaird, a senior contributor at Forbes, an independent advisor at Moody’s Analytics, and the Founder & President of the Financial Writer’s Society, will manage the company’s new “Analysis on Demand” service.

For more information:

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More Bakkt futures contracts are settled in Bitcoin than in cash

According to the latest data from Skew, the volume of Bakkt’s physically-settled futures exceed the volume of its cash-settled product. With an average daily volume of $14 million in the past month, more traders seem to be attracted to futures contracts that are settled in Bitcoin.

Physically-settled futures present a bullish case for Bitcoin

Bitcoin’s strong start to 2020 has pushed more institutional traders to position themselves awaiting for the coin’s rise. Bitcoin closed out its best January in the past seven years in 2020, pushing its institutional volumes up with it.

Earlier this month, the Bakkt physically-settled contract saw a new record of $11.6 million in open interest—up 114 percent in a week. The increase was believed to reflect an influx of new buyers coming into the market, which was expected to extend Bitcoin’s uptrend.

And now, the latest data showed that the rise Bakkt’s volume has seen in January 2020  has been modest by this month’s standards. According to BakktBot, the total open interest on Bakkt’s Bitcoin futures now stands at around $17.8 million.

Graph showing the daily volume and open interest on Bakkt's Bitcoin monthly futures
Graph showing the daily volume and open interest on Bakkt’s Bitcoin monthly futures. (Source: BakktBot)

Data shows more traders looking to settle their futures in Bitcoin than in cash

The growing open interest on Bakkt’s Bitcoin futures is mirrored in the growth in its volumes. Data from Skew has shown that more Bakkt contracts are being settled with physical Bitcoin than in cash.

According to Skew, Bakkt’s cash-settled Bitcoin futures saw an average volume of around $11 million last month, while the physically-settled contract recorded an average volume of $14 million at the same time.

Chart showing the total open interest and volumes fo Bakkt's Bitcoin futures
Chart showing the total open interest and volumes fo Bakkt’s Bitcoin futures. (Source: Skew)

The growing number of institutional traders choosing to settle their contracts in Bitcoin presents a bullish case for the cryptocurrency. Arcane Research’s January report noted that its data has shown there is a growing appetite among institutional investors for Bitcoin.

Arcane Research reported that the 230 Bakkt Bitcoin futures contracts that went into delivery on Jan. 17 represented over $2 million in notional value. The company only delivered 15, 17, and 8 contracts in October, November, and December of last year.

That means that the physical delivery of Bitcoin futures contracts increased by 1,625 percent from their 2019 average of 13.3 BTC, Arcane Research published in the report.

Chart showing the number of Bakkt's physically-delivered Bitcoin futures contracts from October 2019 to January 2020
Chart showing the number of Bakkt’s physically-delivered Bitcoin futures contracts from October 2019 to January 2020. (Source: Arcane Research)

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Cardano’s-Parent IOHK donates $500,000 to the University of Wyoming

IOHK, the company behind the Cardano project, has donated $500,000 to the University of Wyoming. In a press release shared with CryptoSlate, the company said that the donation is aimed at supporting blockchain development and growing its application in supply chain management, cryptography, and smart contracts.

Blockchain development in Wyoming gets a boost from an IOHK donation

Blockchain development in the U.S. state of Wyoming has just got a major boost, thanks to a donation from IOHK. The company, founded by Ethereum co-founder Charles Hoskinson, has donated $500,000 in ADA, the native cryptocurrency of Cardano, to the University of Wyoming’s (UW) Blockchain Research and Development Lab.

In a press release shared with CryptoSlate, IOHK said that the work of the Wyoming Blockchain Taskforce has made Wyoming one of the world’s leading destinations when it comes to legislatively-enabled blockchain innovation. Wyoming is one of the few U.S. states with a comprehensive, blockchain-friendly legal framework, so far enacting 13 blockchain-enabling laws.

Caitlin Long, a former member of the Wyoming Blockchain taskforce, said that the work they’ve done has made the state of Wyoming an attractive destination for blockchain development.

She said:

“The Wyoming Legislature has already achieved several world firsts in passing an extensive series of laws supporting blockchain innovation and the use of cryptocurrencies, and we’re pleased to be able to continue that record”

Supporting Wyoming’s burgeoning blockchain revolution

The donation will enable graduate students and faculty at the University of Wyoming to develop practical applications for blockchain in real-world use cases, the company said. These include cryptography, authentication, supply chain management, and proving the provenance of goods and automated or ‘smart’ contracts.

Charles Hoskinson, the CEO of IOHK, said that the company was happy to play a part in putting Wyoming on the map when it comes to blockchain. The research being done at the university and the country supportive environment was what led IOHK to invest in Wyoming.

The acting president of the University of Wyoming, Neal Theobald, thanked IOHK for the donation, saying it was a significant financial contribution. He explained that the funds will help both the faculty and the students continue their research into real-world uses of blockchain technology.

Long also noted that the $500,000 worth of ADA from IOHK will affect more than just the University of Wyoming. The donation will also help put Wyoming on the map and establish the country as a talent hub for software development.

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Ethereum Classic (ETC) outperformed ETH with a 160% YTD return in 2020

Ethereum Classic (ETC) is up 160 percent YTD. Ethereum Classic has had a fantastic year so far, with metrics such as active addresses and transaction volume going up.

Ethereum classic is up 160 percent since the beginning of the year

The new year seems to have brought new strength into the crypto industry, as the entire market has seen decent growth in the past two months.

And while a strong start to 2020 was something many analysts predicted, the biggest growth was expected to come from Bitcoin and other large-cap altcoins such as Ethereum and Bitcoin Cash. Almost all of the top-ranking cryptocurrencies experienced significant growth since Jan. 1 but were dwarfed by the price spikes some of the smaller cryptocurrencies have seen.

Ethereum Classic, an Ethereum fork and continuation of its original blockchain, saw a huge rise this year, beating Ethereum with its year-to-date (YTD) return.

Graph showing Ethereum Classic's price from Jan. 1, 2020 to Feb. 13, 2020
Graph showing Ethereum Classic’s price from Jan. 1, 2020 to Feb. 13, 2020. (Source: CryptoSlate ETC)

If you had invested in Ethereum (ETH) instead, you would only be up around 100 percent YTD.

Graph showing Ethereum's price from Jan. 1, 2020 to Feb. 13, 2020
Graph showing Ethereum’s price from Jan. 1, 2020 to Feb. 13, 2020. (Source: CryptoSlate ETH)

ETC sees major growth in active users and transaction volume

However, price isn’t the only Ethereum Classic metric that has been on the rise. Data from IntoTheBlock showed that the entire ETC network has been thriving.

According to the company’s tweet, there are currently 2.17 million addresses holding a balance in Ethereum Classic. While the number is significantly smaller than the 48.3 million addresses holding a balance in Ethereum, ETC recorded a higher active addresses ratio.

IntoTheBlock data showed that Ethereum Classic had a 30-day average active address ratio of 2.76 percent. That means that 2.76 percent of the addresses on the network have made at least one transaction in the past month. Ethereum, on the other hand, has an average active ratio of 0.57.

Ethereum Classic’s 7-day average transaction volume was around 3.03 million ETC while the 7-day average transaction volume on Ethereum was 2.33 million ETH.

Screengrab showing on-chain signals for Ethereum Classic
Screengrab showing on-chain signals for Ethereum Classic. (Source: IntoTheBlock)

According to the company’s in/out of the money analysis, 47.49 percent of all addresses holding an ETC balance is currently in the money. That means that 873,890 addresses would make a profit if they were to sell their Ethereum Classic position today.

Around 74.6 million ETC, which is 64 percent of its total circulating supply, is held in all of those addresses, the company said, giving them a total value of over $877 million at current prices.

Screengrab showing IntoTheBlock’s in/out of the money analysis for Ethereum Classic
Screengrab showing IntoTheBlock’s in/out of the money analysis for Ethereum Classic. (Source: IntoTheBlock)

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Charles Hoskinson thinks a Cardano-powered stablecoin will “blow everyone out of the water

The possibility of launching a stablecoin on the Cardano network has gone from rumor to major news, as Charles Hoskinson said that it would increase demand for ADA. The CEO of IOHK said that the company has been “thinking about stablecoins” for the past seven years and seems to be seriously considering it.

Charles Hoskinson expresses interest in launching a stablecoin on Cardano

A new stablecoin could be introduced to the crypto market, and it might just be launched on the Cardano network. Charles Hoskinson, the CEO of IOHK, the company behind Cardano, expressed interest in hosting a stablecoin on Cardano’s blockchain in a recent tweet, saying that both he and the company have been considering the idea for years. Hoskinson said:

“If we do this, then it will blow everyone out of the water. I started in this space with stablecoins and we’ve been thinking about them for seven years.”

The talk about a Cardano-based stablecoin began with a tweet from Weiss Crypto Ratings, a ratings and analytics company focused on cryptocurrencies. On Feb. 11, the company said that there were rumors that Hoskinson was looking to build a version of DAI stablecoin on Cardano.

The company noted that there is a need for more trustless stablecoins in the crypto market, as coins like DAI have no trusted point of failure. This, the tweet said, gives it a huge advantage over other stablecoins such as USDT and USDC.

Having a stablecoin on Cardano would increase demand for ADA

Launching a version of DAI on Cardano spread like wildfire on Twitter, with the news making headlines on most crypto media. The hype surrounding stablecoins and Cardano had an even harder time calming down when Hoskinson addressed the issue again, explaining that such a project could have huge benefits both for Cardano as a network and for ADA holders.

The Cardano Report, a Cardano-focused news outlet, asked Hoskinson how such a project would benefit ADA holders, as it was unclear whether the project would be separate from Cardano.

Hoskinson said that the prospective stablecoin that gets launched on Cardano could use its native cryptocurrency, ADA, as part of its Central Bank mechanism. This, he explained, would create more demand for the underlying asset, increasing both ADA’s price and its use-cases.

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Data shows Bitcoin was the worst-performing major crypto last week

The latest data from Coin Metrics has shown that among the top 12 cryptocurrencies by market cap, Bitcoin was one of the worst-performing major cryptos last week. The bullish case for the world’s largest cryptocurrency is becoming harder and harder to justify, especially when compared to coins such as Tezos and Binance Coin, which saw their prices rise 41 and 31 percent last week.

A strong bullish trend sweeps over altcoins, leaving Bitcoin behind

The crypto industry has seen unparalleled growth in 2020. Aside from a few isolated consolidations, almost every coin on the market has seen its price skyrocket and its trading volume soar since the new year began.

And while many expected this to be the year when Bitcoin finally enters a bull rally that will put its 2017 boom to shame, the world’s largest cryptocurrency still has a long way to go. While the market did come out of the crypto winter, it seems to have entered the alt season instead of the much-awaited Bitcoin spring.

According to the latest State of the Network report from Coin Metrics, most cryptocurrencies have continued their hot start to 2020 into last week. But, while Bitcoin led the way in 2019, we have now seen many smaller-cap altcoins outperform it. The report said:

“Market breadth is quite positive with nearly all assets in our coverage universe holding onto strong weekly gains.”

Ethereum outpaced Bitcoin both in returns and in user growth. The world’s second-largest cryptocurrency posted five days of consecutive positive returns from Feb. 5 to Feb. 9, a pattern that has happened only 21 times in its history. Its active addresses grew by 21.5 percent, while its transaction count grew by more than 12 percent last week, Coin Metrics reported.

Altcoins and stablecoins lead the way in the first week of February

It’s not only the altcoins that have seen major growth this year. Coin Metrics noted that the Velocity of one-year active supply (i.e. the supply that has been transacted at least once within the last year) of stablecoins is currently near their all-time highs.

According to the report, the increasing velocity suggests that stablecoins are being used as a medium of exchange more often.

Graph showing the adjusted velocity for stablecoins from 2016 to 2020
Graph showing the adjusted velocity for stablecoins from 2016 to 2020. (Source: CoinMetrics)

Tezos (XTZ) has been one of the best-performing assets in 2020 in terms of price and realized market cap. The metric can serve as a proxy for investor cost basis, Coin Metrics explained, noting that XTZ’s currently stands at around 60 percent.

Graph showing the realized cap growth for BTC, ETH, and XTZ from January 2019 to January 2020
Graph showing the realized cap growth for BTC, ETH, and XTZ from January 2019 to January 2020. (Source: Coin Metrics)

The stablecoin saw its price rise by 41 percent in the past week, outperforming every other cryptocurrency on the market, including Bitcoin and Ethereum, which saw their prices rise by 9 and 21 percent, respectively.

Binance Coin (BNB) followed closely with a 31 percent growth in the past week, while EOS and Bitcoin Cash (BCH) saw a 19 percent price spike.

Graphs showing percent change in price over the past week for the top 12 cryptocurrencies by market cap
Graphs showing percent change in price over the past week for the top 12 cryptocurrencies by market cap

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Cardano (ADA) update: Yoroi mobile staking, ADA/USD trading on Binance.US

Cardano’s native cryptocurrency ADA has just gotten new use cases. Yoroi, the official Cardano wallet, has announced that its Android mobile app now supports staking on the Shelley testnet, while ADA/USD trading has just been enabled on the Binance.US exchange.

Android users can now stake ADA from their Yoroi Wallets

In line with its ambitious expansion plans, Cardano has announced new use cases for its native cryptocurrency, ADA. According to an update from Yoroi, the official Cardano wallet, users will now be able to stake ADA on the Shelley Incentivized Testnet directly from their mobile wallets.

This feature is only available on the Android Yoroi mobile app, the company said, adding that the iOS app is currently being reviewed by Apple and should be released shortly.

While enabling staking on mobile will certainly make it convenient for more users, Yoroi noted that only those that held ADA during the Shelley testnet snapshot on Nov. 29, 2019, will be able to stake their funds.

Binance.US introduces ADA/USD trading could further Cardano’s latest rally

While staking is still at its earliest stages, ADA trading is becoming increasingly popular. The latest major exchange to list the coin was Binance.US, the U.S.-only arm of Binance, one of the largest cryptocurrency exchanges in the world.

The exchange announced the listing last week, saying that ADA/USD and other trading pairs have become available on the Binance.US app. The listing is in line with Cardano’s expansion plans—earlier this month, Charles Hoskinson, the CEO of IOHK, announced that the company was negotiating with several big players in the industry to list ADA.

Introducing ADA/USD pairs to U.S. traders could further fuel the coin’s massive rally. ADA has seen an incredible 103 percent YTD growth following a rather stagnant Q4 2020.

Graph showing ADA's price from Jan. 01, 2020 to Feb. 12, 2020
Graph showing ADA’s price from Jan. 01, 2020 to Feb. 12, 2020. (Source: CryptoSlate ADA)

The coin has seen it’s price spike more than 11 percent in the past 24 hours, jumping from $0.062 to $0.069 in a matter of hours. There doesn’t seem to be a significant consolidation any time soon and the coin is expected to continue its upward trajectory in the following days.

Graph showing ADA's price on Feb. 12, 2020
Graph showing ADA’s price on Feb. 12, 2020. (Source: CryptoSlate ADA)

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Censorship surrounding Coronavirus outbreak in China shows the need for secure blockchain messaging apps

The news about the Coronavirus could have been broadcast much faster and the outbreak handled much more effectively if the doctors working on the cases had access to censorship-resistant messaging platforms.

According to cryptographer David Chaum, the founder of xx network, could help overcome societal barriers such as censorship, which are prevalent in countries such as China.

Could the massive Coronavirus outbreak have been suppressed if the doctors working on it weren’t censored?

One cryptographer seems to believe so.

According to David Chaum, the founder of metadata shredding quantum-resistant blockchain platform xx network, if it wasn’t for the persistent censorship efforts from the Chinese government, the Coronavirus outbreak could have been handled much better.

The death of Dr. Le Wenliang, one of the seven doctors whose attempts to warn against the spread of the virus in its early days were suppressed by the authorities, has sparked a nation-wide conversation about the effects of censorship in China.

In a rare show of resistance and solidarity, people across China took to Weibo to speak about the injustice against Dr. Wenliang, creating a movement around the hashtag #IwantFreedomofSpeech. However, local reports have shown that the hashtag and the posts containing it have been removed within hours.

By silencing the doctors who were warning about the early cases of Coronavirus, the Chinese authorities effectively created a monster of a virus that thrived thanks to the lack of information about it. All of this, Chaum believes, could have been avoided with blockchain.

Solving censorship, one blockchain message at a time

Chaum told CryptoSlate that he believes blockchain can help overcome many societal barriers set up by governments, the most important one being censorship, as it’s immutability and security makes it a perfect tool for protecting people’s privacy.

xx messenger, the blockchain-based messaging app Chaum’s US team Elixxir is developing, could become a tool that enables that, he explained. The censorship-resistant blockchain app has been many years in the making but is set to see the light of day very soon. Currently, it is available for testing by downloading the xx messenger app.

He said:

“We’ve worked hard over many years to build the infrastructure of the xx network and lay the groundwork for privacy-protecting tools like xx messenger”

What Chaum seems particularly proud of is the app’s unique architecture, which makes even its metadata hidden. David said that Elixxir, which is the c-mix platform, “shreds” metadata that is generated by users, while also providing end-to-end encryption of message content.

However, rivalry in the blockchain messaging app industry is becoming increasingly tough. With dozens of similar apps on the market, Elixxir will be up against a tough crowd. The messenger’s ability to handle cryptocurrency payments without sacrificing privacy could be what sets it apart from the competition.

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Acting legend William Shatner is crypto’s latest ally

Actor William Shatner, best known for his portrayal of Captain Kirk in the Star Trek franchise, is the latest celebrity to join the crypto bandwagon. Currently considering creating his own crypto-focused podcast, Shatner doesn’t shy away from sharing his thoughts on the industry—including labeling Craig Wright as a fraud.

Captain Kirk considering hosting his own crypto podcast

While there’s no lack of crypto-focused podcasts and shows on the internet today, the community seems to value anything that puts the word about the industry out there—especially if it might come from Captain Kirk himself.

William Shatner, the legendary Canadian-born actor best known for his decades-long portrayal of Star Trek’s Captain Kirk, is considering creating and hosting his own podcast.

According to his Twitter account, the renowned actor wants to use his platform to spread the word about cryptocurrencies and blockchain technology.

The news about Shatner’s podcast plans spread like wildfire on Twitter. The crypto community first became infatuated with the actor after he announced that he participated in the Satoshi Roundtable conference earlier in February.

If Shatner does decide to launch his own crypto podcast, the topic of cryptocurrencies could get invaluable exposure. Shatner told his 2.5 million Twitter followers that he doesn’t plan on shilling particular coins or products, but that he’d love to discuss the potential of blockchain technology and the industry in general.

Denouncing Craig Wright as Satoshi Nakamoto sparks massive Twitter fight

Shatner’s recent popularity among the crypto community was bound to hit a roadblock, this time in the form of Craig Wright. The topic of Wright came about in one of Shatner’s discussions on Twitter when he was asked whether “Faketoshi” attended the Roundtable conference.

To the dismay of the BSV community, Shatner used the opportunity to denounce Wright and question the validity of many of his claims.

“Why can’t he prove it? From what I’ve read is that some mysterious bonded courier would deliver the keys (which honestly is a scene right out of Back to the Future.) If he is, he should be able to prove it. This is like the modern-day search for Anastasia,” he said about the nChain scientist.

Calvin Ayre, the CEO of Ayre Group and founder of pro-BSV news outlet CoinGeek, also gave his two cents on the matter, telling Shatner that Wright “can prove everything” and has “all the evidence.”

“He owes us all nothing in this and having keys is not proof like what he is doing in court,” he wrote on Twitter.

The discussion quickly turned into a bitter fight between those supporting Wright and those that believe he is a fraud. Shatner, who was at the receiving end of a lot of criticism from the BSV community, made sure his opinion on the matter was crystal clear—there’s little to no chance Wright is actually Satoshi.

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Davos opens new doors for Cardano (ADA), several partnerships in the works

This year’s World Economic Forum in Davos has opened many new doors for Cardano. The Cardano delegation, which included the Cardano Foundation, IOHK, and Emurgo, said that several partnerships and collaborations are currently in the works, with many more letters of intent and contacts made along the way.

The Cardano delegation reaps huge success at the World Economic Forum

As part of its effort to commercialize Cardano, the Cardano Foundation has been knee-deep in promoting the ambitious blockchain project at its biggest stage yet—the World Economic Forum at Davos.

This year saw the largest Cardano delegation ever—IOHK, Emurgo, and the Cardano Foundation all participated in the forum. According to Bakyt Azimkanov, the director of PR and communication at the Cardano Foundation, the visit was extremely successful.

In a video update posted on the foundation’s YouTube channel, Azimkanov said that the 10- strong delegation had the opportunity to exchange ideas and share insights at one of the most important gatherings on the planet.

Cardano in Davos
Cardano in Davos. Source: Screengrab from video-update

The delegation met with leading academics, top executives, and politicians from all around the world, participating in multiple roundtables. Both Nathan Kaiser, a chairman at the Cardano Foundation, and Charles Hoskinson, the CEO of IOHK, spoke of the evolution and future of fintech, discussing everything from financial markets to concrete solutions for security token exchanges.

Significant partnerships in the works for Cardano

However, the Cardano delegation wasn’t all talk. Significant and meaningful results were seen even before the forum officially ended, Azimkanov said. The meetings the delegation held throughout the duration of the event resulted in letters of intent, collaborations, and agreements.

The project’s strong science background and research-first approach made the delegation an important contributor to academic roundtables. At one of those roundtables, which were attended by the Massachusetts Institute of Technology and Harvard University, the meeting resulted in the approval of a research grant request from Harvard’s Berkman Klein Center to study blockchain governance.

While Azimkanov didn’t reveal details about all the letters of intent the delegation received, he announced several new partnerships with concrete goals. A collaboration has been established with DUST Identity, a tech company focused on developing diamond dust identification technology, which will lead to greater transparency and accountability for global organizations, he said.

The delegation also established a relationship with Finka, a Swiss-based non-profit organization, to apply blockchain technology to cattle farming and make cattle a viable asset class.

LO3 Energy, a US-based provider of local energy solutions platform, could be one of Cardano’s launch partners for Goguen, the smart-contract era of the blockchain. The following months could also see Cardano Connector being developed. According to a blog post from Cardano, the blockchain-enabled product and authenticity tool will be an integration of ScanTrust’s Proof-of-Concept.

When it comes to ADA issuance, Cardano is set to work alongside GenTwo to bring ADA-denominated structured finance products to the market.

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Three non-custodial crypto wallets to try in 2020

Putting money into cryptocurrencies has never been easier than today, but keeping your crypto funds safe is getting harder. To prevent your coins from being lost, stolen, or hacked, it’s important to choose a cryptocurrency wallet that will not only fit your needs in terms of features but also keep your funds safe.

Wallets play a vital role in the crypto industry no matter the size of the funds they keep. However, as all cryptocurrencies need to be kept somewhere, they have also become a hotspot for hacks and thefts, as well as questionable business practices.

However, it’s worth noting that while some wallets are better than others, there’s no such thing as a one-size-fits-all solution when it comes to storing your cryptocurrencies. Some users seek the simplicity and straightforwardness that just doesn’t cut it for traders looking for more advanced options. Many want a wallet that can be a one-stop-shop for all their crypto needs, while some want to limit its features to keep their funds as secure as possible.

Nonetheless, there are products currently on the market that are worth taking a look at. Here’s our pick for the crypto wallets you need to try in 2020.

1. COINS by CoinPaprika

COINS app by coinpaprika
COINS app

Marketed as an all-in-one app for all of your cryptocurrency needs, COINS was created by research company coinpaprika. A direct competitor to CoinMarketCap, the company wanted to create a platform that not only allows users to store funds but also track and exchange them.

COINS is a non-custodial multi-wallet that supports over 2000 different cryptocurrencies. Users can benefit from coinpaprika’s on-board engine and access information such as whitepapers, employees, and the company’s progress about every listed coin.

The wallet’s built-in non-custodial exchange allows users to exchange crypto-to-crypto directly in the app. Fiat onboarding is also enabled, with the process of buying any of the supported coins made as quick and easy as possible. According to the company, COINS allows users to send and receive cryptocurrencies from anyone in their contact list.

The company first started working on the app in December 2018 and finished it almost a year later, in November 2019. It’s currently available only for iOS devices on the Apple AppStore, while the Android version is set to be released sometime in Q1 2020.

The thing that might put off some users from using COINS is the fact that the app is still relatively young. Officially launched in November 2019, the wallet is yet to see its Android release.

Download COINS for iOS

2. Exodus

Exodus mobile app
Exodus mobile app

For users that want to be able to access their cryptocurrency wallets on their desktop, there’s Exodus. The wallet, created in 2015, focuses on a sleek design and a streamlined user interface. Exodus is also available both for iOS and Android, allowing users to pair their wallets on different devices and gain full control over their funds.

While it’s not as packed with features as some more experienced traders would like, it still offers everything beginner and mid-tier crypto users would want from a wallet. If offers a portfolio app to keep track of your funds, a wallet to store them, and an exchange that allows coins to be traded without the need to leave the app. The company prides itself on its 24/7 live support.

However, despite solid features and a robust system, the wallet’s main value proposition is its compatibility with Trezor hardware wallets. Both Trezor One and Model T work with Exodus through the Trezor Bridge app, and allow users to safely and quickly exchange assets between Trezor and Exodus.

A solid wallet that could be the most attractive to crypto newbies, Exodus does come with a few drawbacks. It currently supports only about 100 cryptocurrencies, which might not be enough for users with diverse portfolios. Apart from that, one of the biggest drawbacks of the wallet is that it lacks the option to set a custom network fee. For users that frequently send crypto payments, having automatic transaction fees could prove to be costly and inefficient.

3. BRD

BRD
BRD

Formerly known as Bread Wallet or Bread, BRD is also an excellent choice for those that are just getting started with cryptocurrencies. Like the previous two mentions, BRD is also a non-custodial wallet, making the users the sole owners of their private keys.

Apart from security, BRD users can also enjoy a rather quick and efficient onboarding process. The wallet is fully decentralized and requires no accounts or passwords to set up, enabling users to get the app up and running in seconds.

While the wallet is aimed at beginners, more experienced traders and holders can benefit from its features. Those looking for an efficient fiat onboarding process will find BRD’s options extremely useful—the wallet currently enables users to buy BTC, ETH, and DAI with the U.S. Dollar (USD), the Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), and Danish Krona (DKK). The wallet’s in-built exchange allows users to convert their BTC into other cryptocurrencies, including Bitcoin Cash (BCH), Ethereum (ETH), and various other ERC20 tokens.

Some of the drawbacks of BRD are the inevitable credit card fees. While the 7.5 percent fee isn’t as high as that seen on other wallets and exchanges, it might not be the most cost-efficient fiat onramp. Apart from that, live customer support via is only available to users that hold more than 2500 of its native BRD tokens.

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Blockchain.com Ventures leads seed funding for Wintermute Trading

Wintermute Trading, a global algorithmic market maker for digital assets, announced that it has completed the seed funding round led by Blockchain.com Ventures. In a press release shared with CryptoSlate, the company said it will use the funding to improve its liquidity and enhance its technology.

New capital poured into crypto market maker Wintermute

Partners of Wintermute trading
Partners of Wintermute trading

Wintermute Trading is a proprietary trading company and crypto market maker. The round was led by Blockchain.com Ventures, while FBG and other angel investors participated in raising capital for the company.

Following its investment, Samuel Harrison, the managing partner at Blockchain.com Ventures, will be joining Wintermute’s board of directors. In a joint statement, Blockchain.com said that its investment in Wintermute aims to contribute to the creation of an open, fair, and accessible financial system. The funding is also set to promote blockchain use-cases that go beyond finance.

Peter Smith, the co-founder, and CEO of Blockchain.com, said that Wintermute has been one of the earliest partners to the Blockchain.com Exchange, which allowed the company to get to know the Wintermute team intimately.

He said:

“We were impressed with their execution capabilities, which we view as best in class, and developed the conviction that they will become a leading market-making force.”

Funding to help Wintermute capture a bigger market share

Wintermute said that the funding raised in the seed round will be used to further enhance its technology to create a more liquid, efficient, and professional cryptocurrency market. Apart from that, the company is also looking to expand their team to deal with the increasing workload.

While still relatively small, Wintermute already has a huge dominance on the market. Founded in 2017, the company employs a group of high-frequency trading veterans hailing from Optiver. The experience of the team, combined with innovative and reliable technology, established Wintermute as a preferred partner to institutional investors.

The company also works with some of the leading cryptocurrency exchanges on the market, including the Blockchain.com exchange, Binance, Kraken, and Coinbase.

Evgeny Gaevoy, the CEO of Wintermute Trading, said that the company was excited to be working with such a wide variety of clients. The growing roster of its clients will enable it to create a robust market for all traders and market participants.

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Temporal and ENS now make launching a decentralized website easier than ever

Temporal has partnered with the Ethereum Name Service (ENS) to integrate its Web 3.0 infrastructure and IPFS APIs into the ENS Manager app. According to the companies’ press release, another great use-case for both platforms has been created, as it will enable creating a decentralized website in no more than three steps.

Temporal announces partnership with the Ethereum Name Service

Web 3.0 infrastructure has just become more accessible to developers thanks to a new collaboration between Temporal and ENS. Temporal, the company behind one of the largest IPFS infrastructures, announced a partnership with the Ethereum Name Service (ENS), a growing decentralized naming service built on Ethereum.

In a press release shared with CryptoSlate, Temporal said that partnering directly with ENS will create another great use-case for both platforms and help the IPFS and blockchain communities grow.

The partnership will allow Temporal to integrate its interplanetary file system (IPFS) application programming interfaces (APIs) into the official ENS Manager app. According to the company’s announcement, this will enable users to upload directly to IPFS and put the IPFS hash into their ENS name’s records in just a few clicks.

After logging into their ENS Manager, users only need to upload their files and save the hash to ENS.

The feature is set to launch in the following weeks, but a video showing the demo version is available on YouTube.

Widening the use-cases for IPFS with a partnership with ENS

Integrating its IPFS APIs into ENS came naturally to the company. Derrick Foote, the founder and CEO of Temporal, said that both companies shared the same vision of a safer, faster, and more open internet where users can have complete control over their data.

According to him, this represents a huge step forward when it comes to building and growing Web 3.0:

“It’s amazing to see all the traction in the Web 3.0 space lately thanks to its great community and talented builders. ENS is and will continue to play a major role in this ecosystem, we look forward to working together further with this great team to not only innovate but create opportunities for developers and users of Web 3.0.”

ENS’s director of operations, Brantly Millegan, also celebrated the two companies’ partnership. Teaming up with Temporal has made creating and launching a decentralized website easier than ever, he said in the joint press release. This, according to Millegan, is the beginning of whole new web.

Both companies will continue to contribute to the infrastructure, applications, and tools that can be used to create secure decentralized solutions. The company’s products aren’t only aimed at developers—they were created to suit the needs of both single users and enterprises.

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Wikipedia Founder: Zero chance we would ever use Bitcoin SV

Wikipedia founder Jimmy Wales has shut down rumors about his endorsement of BSV after CoinGeek published an article celebrating him as a keynote speaker at the CoinGeek London conference. Wales noted that he will be attending the conference as a critic, not a supporter, adding that BSV has nothing to offer Wikipedia.

CoinGeek insinuates that BSV is the perfect blockchain solution for Wikipedia

The idea of putting a system as huge and data-intensive as Wikipedia on a blockchain isn’t anything new. The website’s open-source design makes it increasingly hard to collect and secure payments, leading many to believe that putting it on a blockchain could solve most of its problems.

However, few believe that it could be Bitcoin SV, Bitcoin’s most controversial offshoot.

Nonetheless, CoinGeek, a pro-BSV news outlet, indicated that it might be the perfect fit for Wikipedia. In an article announcing Wikipedia founder Jimmy Wales as one of the keynote speakers at the CoinGeek London conference, the outlet insinuated that the two might coin a partnership. It said in the article:

“Until the emergence of Bitcoin SV (BSV) to reclaim Bitcoin’s original design, no blockchain had the scalability to power micropayments to efficiently reward better user information and handle the staggering amount of data Wikipedia carries.”

Jimmy Nguyen, the CEO of nChain and a known associate of both CoinGeek’s Calvin Ayre and Craig Wright, said that he believes BSV has solutions for Wikipedia to offer.

Jimmy Wales shuts down rumors about the possibility of Wikipedia endorsing BSV

Wales, however, didn’t seem too fond of the attention he got from CoinGeek and Nguyen. He took to Twitter to settle rumors about his endorsement of BSV, saying that he wasn’t coming to the conference as a supporter, but as a staunch critic. The Wikipedia founder seemed annoyed at the tone of the conference’s promotion efforts, accusing them of sending the wrong picture about his involvement.

Wales wrote on Twitter:

“Your marketing materials need to be updated immediately – as people seem to be reading this as some kind of endorsement from me.”

Wales also shut down rumors about the possibility of putting Wikipedia on the BSV blockchain, revealing his thoughts about the controversial Bitcoin offshoot:

“I’m coming to speak my mind, which includes that BSV offers nothing for Wikipedia and that there is zero chance we would ever use it.”

While him denouncing BSV brought on a positive reaction from the crypto community, Calvin Ayre, the founder of CoinGeek and organizer of the conference, didn’t seem too bothered. Ayre told Wales on Twitter that he didn’t see any of the false marketing he was referring to and offered to make any changes to accommodate him.

The unreasonably optimistic Ayre also noted that the fact that Wales was a skeptic was “good,” as attending the conference would show just how wrong he was.

We are yet to see whether the Feb. 20 conference manages to sway the Wikipedia founder’s mind, but it’s safe to say that the chances of that are very, very slim.

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Justin Sun’s $4.5M dinner with Warren Buffett had a 4000% ROI

The price of TRON‘s native cryptocurrency TRX surged over 10 percent in less than hour following the news about Justin Sun’s long-awaited dinner with Warren Buffett. The lunch, which Sun famously paid $4.5 million, has added more than $185 million to Tron’s market cap.

TRX sees its price surge by 10 percent in half an hour

Out of all the cryptocurrencies in the market today, few are as sensitive to media hype as Tron (TRX) is. The 12th largest coin by market capitalization, TRX has gathered a community that follows every rumor and hearsay with either a massive dump or a turbo-charged buying spree.

The latter seemed to be the case earlier this week when the coin saw its price skyrocket after a month of slow and lagging growth.

After struggling to break above $0.021 for over a week, Tron jumped to $0.023 in the early afternoon hours of Jan. 6. The coin managed to increase in value by 10 percent in half an hour, making it the single highest jump in the past six months.

Graph showing the price of TRX on Feb. 6 and Feb. 7, 2020

TRX price chart.
TRX Price chart. (Source: CryptoSlate TRX)

The pump Tron has seen was fueled by news about Justin Sun‘s much-awaited lunch with Warren Buffet. Sun met with the legendary Berkshire Hathaway investor on Jan. 23 but shared information about the dinner they had on Feb. 6. According to Sun, Buffett is still skeptical about cryptocurrencies in general but saw great potential in blockchain technology.

Sun’s $4.5 million-dinner was an incredible investment for Tron

During the dinner, Buffett became the owner of one Bitcoin and around $100,000 worth of TRX, which were gifted to him by Sun. The investor was reportedly impressed with the transaction speed on Tron but is yet to see real-life use cases for the new asset class.

While Sun’s dinner with Buffett has been surrounded by controversy since last year, the outspoken entrepreneur certainly managed to make the most of it. The $4.5 million Sun paid to charity in order to meet with Buffett has had one of the largest ROIs out of all of his marketing endeavors.

According to data from CoinMarketCap, Tron’s market capitalization hovered between $1.2 and $1.3 billion in February and reached $1.372 billion on Feb. 6. When news about Sun’s meeting with Warren broke, both Tron’s price and its market cap saw a significant vertical spike. Tron’s market cap is $1.51 billion at the time of publishing.

Graph showing the market capitalization for Tron from Feb.1 to Feb. 7

Graph showing the market capitalization for Tron from Feb.1 to Feb. 7
Graph showing the market capitalization for Tron from Feb.1 to Feb. 7. (Source: CoinGecko)

The news about the meeting added a staggering $185 million to its market cap in a matter of hours, giving Sun’s $4.5 million bid an incredible return.

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Lightning Labs closes $10M investment round to release first merchant product

Lightning Labs has announced they have raised a $10M Series A, saying that the funds will be used to further develop Lightning and scale the developer system. According to Elizabeth Stark, the CEO and co-founder of Lightning Labs, the closing of the funding round was followed by the launch of Lightning Loop, a paid product focused on merchants.

Work on the Lightning Network boosted with a $10 million investment

The second-layer scaling solution to Bitcoin seems to be getting closer with each day. Lightning Labs, the company working on the development of the high-speed transaction protocol Lightning Network, has just closed off another massive investment round and is ready to pour the capital into growing LN.

According to an official announcement from the company, Lightning Labs raised a $10M Series A this month. The investment came a year after a seed round from Jack Dorsey, the CEO of Twitter and founder of Square, Vlad Tenev, the co-founder of Robinhood, and Charlie Lee, the creator of Litecoin.

Lightning Lab’s latest round is being led by Craft Ventures, as well as Ribbit Capital, RRE, M12, and Slow. Big names both from traditional finance and the crypto industry have also participated, including Ross Stevens, the CEO, and Founder of Stone Ridge, John Pfeffer from Pfeffer Capital, David B. Heller, the former co-Head of Securities at Goldman Sachs, and others.

Elizabeth Stark wrote on Medium:

“We at Lightning Labs see this as not an accomplishment in and of itself, but a means to achieving our goal of bringing instant bitcoin transactions to millions of people”

Lightning Labs launches beta version of its first-ever paid merchant product

At the same time, the Series A round was closed, Lightning Labs announced another major milestone for the company. Speaking to Yahoo Finance, Stark said that the company also launched the beta version of Lightning Loop, Lightning Lab’s first-ever paid product.

According to the company, the product is aimed at merchants, namely startups and node operators. Loop will add “inbound liquidity” to receive payments and reduce transaction fees by recycling and reusing Lightning channels, the company explained.

The product’s Loop Out feature will allow funds to be sent out of the Lightning Network to “on-chain” destinations like exchange accounts or cold storage systems, with fees ranging from 0.05 to 0.5 percent. Loop In, on the other hand, will enable typical users to refill their Lightning wallets when funds are depleted by “looping” them from “on-chain” sources such as exchanges or cold storage. The fees for the Loop In feature will be a bit higher, and range from 0.1 to 1 percent.

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Yahoo Finance and Investing.com post a news article claiming Bitcoin was 50% down in past day

Earlier this week, Yahoo Finance and Investing.com both posted and shared an article that falsely claimed Bitcoin’s price plunged almost 56 percent in a single day. The article has most likely been written by a bot in a bit to drive ad revenue to the website due to the popularity of the topic.

Well-known financial news outlets publish fake Bitcoin article

While the crypto industry never lacks outrageous predictions and untrustworthy sources, the article that surfaced earlier this week put all previous clickbait titles to shame. On Feb. 4, Yahoo Finance and Investing.com, both well-known and trusted financial media outlets, published an article that claimed Bitcoin lost more than half of its value in a single day.

The article, titled “Bitcoin Plunges 56% in Rout,” quickly began making rounds in the crypto space on Twitter and Reddit, much to the disbelief of the community. The outrage with which the articles were met didn’t last long, though—both were quickly removed from the platforms.

Screengrab of the deleted article on Investing.com
Screengrab of the deleted article on Investing.com. (Source: Googleusercontent)

Around 300-words long, both articles claimed that the downward move that Bitcoin saw pushed its market cap down to $165.9 billion, but failed to add any sources or more detailed information.

The articles were most likely written and published by a bot, with one of them even being timestamped to Dec. 31, 1969.

Screengrab showing the title and date of the Investing.com article
Screengrab showing the title and date of the Investing.com article. (Source: Twitter)

Outrage over bot-generated articles reveal deeper problems with crypto media

While the two articles managed to be shut down rather quickly after being published, the damage has already been done. Many argued that the incident caused the loss of any credibility Yahoo Finance and Investing.com had.

Mike Dudas, the CEO of The Block, shared his disbelief on Twitter over the incident.

“Two large, well-known financial media brands unrepentantly sharing 100% misinformation with the masses.”

Mati Greenspan, the founder of Quantum Economics and a former senior market analyst at eToro, criticized the publishing process on Investing.com, saying “anyone with an opinion” can write on the platform.

The problem with misleading and fake news has been rampant in the crypto industry since its very beginning. However, these types of articles, written by bots, can wreak more havoc than anything man-made. As many cryptocurrency trading bots open and close trades based on aggregated news titles, articles like the ones published by Yahoo Finance could easily affect hundreds of day trades.

As of now, there’s no evidence that said article affected any trades, but the incident shed a light on the practice, showing that there’s still a long way to go before automated news bots can become a trusted source of news.

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Mining company suing Bitmain, Kraken, Roger Ver for the Bitcoin hash wars sees case dismissed

After a year of appeals, a U.S. Court has dismissed a lawsuit against several Bitcoin Cash proponents, including Bitmain, Kraken, Bitcoin.com, and their respective owners and founders. The lawsuit, filed by Florida-based mining company UnitedCorp, alleged that the defendants colluded during the Bitcoin hash wars, which crashed BCH prices and decimated the company’s mining rewards.

U.S. Court says there’s no case against Bitmain, Kraken, Bitcoin.com, and Roger Ver

Florida courts seem to be a hotspot for crypto-related lawsuits, as the Southern District Court of Florida resolved yet another case vital for the crypto industry. Court documents have shown U.S. Magistrate Judge Chris McAliley dismissed the lawsuit filed by crypto mining company UnitedCorp for lack of jurisdiction and a failure to state a claim.

According to an update shared by law firm O’Melveny, which represented Roger Ver and other individuals named in the lawsuit, the dismissal came after nearly four hours of oral arguments the week before.

The lawsuit marks an important milestone for the crypto industry, as it is the first antitrust case filed in the U.S. that involves cryptocurrency companies. O’Melveny called the trial “the first-of-its-kind.”

No evidence of collusion, but it’s not over yet

UnitedCorp accused nine defendants, including mining hardware manufacturer Bitmain, cryptocurrency exchange Kraken, Bitcoin.com, and their respective founders, of collusion during the Bitcoin hash wars. The lawsuit claims that they had broken several antitrust laws, including the Sherman Act and the Clayton Act, as well as exhibited negligence, negligent misrepresentation, unjust enrichment, and conversion.

The actions of the nine defendants have allegedly hurt both the investments and daily operations of the Florida-based company. According to official court documents, the collusion happened towards the end of the Bitcoin hash wars, where two Bitcoin offshoots, Bitcoin Cash and Bitcoin SV, competed to produce a longer chain.

The competition, which lasted over 11 days, ended when Kraken awarded the BCH ticker to the Bitcoin ABC chain. As Bitmain, Kraken, and Bitcoin.com have all actively supported Bitcoin ABC, the price estimation that followed the fork wiped out 50 percent of BCH’s price.

UnitedCorp claims this had caused “irreparable damage” to the company and its stakeholders. And while this marks the end of a year-long appeal process, the trial is not officially over yet. The company has until the end of February to submit an amended complaint.

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At Cardano (ADA), a lot is happening underneath the surface

The effort to improve communication with the Cardano (ADA) community has revealed the scope of work and research that has gone into the platform. According to Charles Hoskinson, the CEO of IOHK, the fruits of almost five years of labor will see the light of day in the next few months, marking the beginning of the end of IOHK’s involvement with the project.

Hoskinson highlights the importance of third-party validation

Despite the tough competition, there are few projects as unique as Cardano. The research-based blockchain project is one of the most ambitious ones on the market, as it aims not to disrupt, but to revolutionize.

What makes Cardano unique is its use of peer review and formal methods. Charles Hoskinson, the CEO of IOHK, the company building the blockchain, said that the project was started to see whether it was possible to “write code differently.” As opposed to writing a whitepaper and making that the basis for the code, IOHK decided to go back to basics and start with good, old-fashioned math.

By using formal methods, a process of performing advanced mathematical analysis to software design, the company wanted to ensure that their final product will be as reliable and as robust as possible. However, the labor-intensive process came with a price.

Hoskinson explained in his latest YouTube video :

“When you write software like this it adds years to your roadmap”

Five years, to be exact, as the project began all the way back in 2015. While major developments have been made towards the end of last year, it wasn’t until 2020 that the project really started taking off.

The launch of the incentivized testnet for the Shelley era of Cardano was the most important milestone for the company in the past year or so, as it meant that most of the heavy lifting when it comes to infrastructure was almost done.

However, the speed Cardano has picked up is a two-sided blade. Hoskinson said that once the Shelley Incentivized Testnet was released, people started to see Cardano only through its output and completely ignore the amount of work that has been going on beneath the surface.

Five years of effort the teams behind Cardano have put in wouldn’t mean a thing if their product wasn’t good. While community participation is a good sign, third-party validation is the true measure of a product’s value. According to Hoskinson, the first security report for Cardano has just been released, and while it contains both the good and the bad parts of the code, it shows that everything was done correctly and with the product’s longevity in mind.

Once all of the issues raised in the report have been resolved, a detailed report will be published, Hoskinson said.

None of the scientific research that has gone into Cardano can substitute community engagement

Hoskinson said that he was extremely proud of what they achieved so far, saying that it was among the first, if not the first, company to build a pipeline that connected formal methods, peer-reviewed research, and practical testing. The years of research and development put in by the teams behind Cardano all led to the release of the incentivized testnet for Shelley.

The outspoken CEO went on to explain why the testnet was so important for the development of Cardano. Hoskinson said that the point of introducing incentives into the testnet was to facilitate a broad discussion with the Cardano community about the experience of staking. By hearing the thoughts and concerns of the community, Cardano wanted to be able to better understand Ourbouros, its native staking protocol, and create the tools users and developers need.

Hoskinson said that using Rust’s rapid prototyping approach enabled the company to accommodate the “experimental edge” of the newly created staking ecosystem.

And the painstakingly thought-out approach has worked out. With more than 1000 registered staking pools and new ones being created almost every day, the incentivized testnet has exceeded all expectations. Hoskinson noted that while the company believed the testnet would be a success with a hundred stake pools, they doubted more than 50 would ever be created. The overwhelming participation and interest in the incentivized testnet showed that the company was on the right track, Hoskinson said.

Investing in the community is a smart move for Cardano. The ultimate goal of IOHK is to relinquish all control over the project and leave it in the hands of its users, who will use its advanced governance system with improvement proposals and enhancement processes to run Cardano. This is the only way Cardano can be a truly decentralized blockchain and cryptocurrency, Hoskinson explained.

Now that the science is almost done, Cardano is moving to the explanation phase

After the Shelley mainnet is released, the Cardano teams will push on right ahead with Goguen, the blockchain’s next iteration. While Shelley will decentralize the core of the blockchain by introducing staking, Goguen will enable users to create decentralized applications (dApps) on Cardano.

Efforts to create and improve multi-asset management, identity, oracles, channels handling metadata that flows through transactions, development experiences, and ethereum interoperability are all currently underway, Hoskinson said. He noted that all of the work that has been put into Shelley in the past few months has been going on in parallel to the work being done on Goguen.

The company’s upcoming updates and releases show sudden pace Cardano has picked up didn’t come out of the blue.

“These are the fruits of years of efforts,” Hoskinson said, adding that the sole focus for the next few months will be to deliver the products and updates they’ve been working on in the past year.

One of the most important efforts the company has taken on was to improve its communication. Hoskinson admitted that neither IOHK nor its partners the Cardano Foundation and Emurgo have done that great of a job when it comes to community engagement. This, however, is no longer an issue.

Hoskinson was very open about the company’s plans in the next few months. This month, the company will launch a Byron reboot code and begin the process of transitioning users from the Rust incentivized testnet to its Haskell version. The process, Hoskinson noted, will take between 3 and 4 weeks. February 20 will bring about the much-awaited Ouroboros BFT (Ouroboros Byzantine Fault Tolerance) hard fork, while a major upgrade of Cardano Docs should also be completed by the end of the month.

Once all of the Incentivized Testnet users have been transitioned to the Haskell product, the company will begin releasing updates related to its consumer side, which will, among other things, enable users to verify the balances they made in the testnet.

Much of March and April will be spent on transitioning the Incentivized Testnet to work on Basho, the era of Cardano that will focus on scalability and interoperability of the network. New, original contributions to the Haskell code will be made in the meantime. Hoskinson explained that adding original code will help Cardano create the basis for securing “new partnerships,” but didn’t reveal whether or not the company had any concrete plans.

He did say, however, that they were having “aggressive” conversations with partners and commercial organizations to create use cases and commercialize Cardano.

“We really do have a shot at replacing the global payment and settlement systems with what we’ve accomplished with Cardano.”

When it comes to plans for IOHK, Hoskinson stated that the latest developments with Cardano were bittersweet. The more Cardano looks like a finished product, the less stake IOHK will have in it.

“This book is slowly coming to an end.”

While there is still a long way to go and a lot of work to be done before IOHK can pack up their bags and leave, Hoskinson said that he hopes they have already laid the foundations for a system that will be sustainable and scalable even when left to its own devices.

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Data showing Coinbase, Kraken, Bitfinex trading volumes surging in 2020

The market seems to be coming to life after almost a year of crypto winter, as volumes on most major exchanges have seen significant increases in the past month. Data from CryptoCompare showed that Liquid, Bitfinex, Bitstamp, and bitFlyer have all seen their volumes rise by at least 50 percent, while volumes on Kraken and Coinbase increased by 120 and 80 percent since last month.

The crypto market comes alive after a slow December

December has not been a good month for cryptocurrency exchanges. Both top-tier and low-rated exchanges have seen their trading volumes stagnate as the year was coming to an end, with little to no indication that there will be an upturn in the market anytime soon.

However, the latest data has shown that not only has the market turned but that it also seems to be riding an unstoppable wave going upwards. This is seen best when analyzing the growth crypto exchanges have seen this month.

First pointed out by The Block’s director of research Larry Cermak, everything seems to show that the crypto winter is coming to an end. According to his data, the daily average volume on Coinbase increased by more than 81 percent in January, which is the first monthly increase it has seen since June 2019. The exchange recorded an average volume of around $205 million every day in January, which is the highest it has been in the past five months.

Chart showing the daily average volume on Coinbase from Jan. 2019 to Jan. 2020
Chart showing the daily average volume on Coinbase from Jan. 2019 to Jan. 2020. (Source: Larry Cermak Twitter)

Most exchanges have seen their volumes go up in the past month

Coinbase isn’t the only crypto exchange that was affected by this January awakening. According to crypto analytics company CryptoCompare, traders have been pumping up volumes on other exchanges as well.

“Not only is monthly volume up on Coinbase but across many of the top exchanges,” the company said on Twitter.

Data taken from CryptoCompare’s upcoming January Exchange Review showed that December has been incredibly slow when it comes to trading volume. Coinbase, Liquid, Kraken, BitFinex, Bitstamp, and bitFlyer have all seen their volumes drop significantly.

January, however, has brought an incredible boost when it comes to volume.

Chart showing the total monthly volumes in the past three months for Coinbase, Liquid, Kraken, Bitfinex, Bitstamp, and bitFlyer
Chart showing the total monthly volumes in the past three months for Coinbase, Liquid, Kraken, Bitfinex, Bitstamp, and bitFlyer. (Source: CryptoCompare)

Liquid and bitFlyer saw their January trading volume increase by 50 percent since December 2019, while Bitstamp saw a 70 percent increase. Bitfinex and Coinbase saw their volumes rise by 90 percent and 80 percent respectively, CryptoCompare data has shown.

Kraken was the biggest gainer last month with a 120 percent rise—the exchange saw its total monthly trading volume increase from $2.5 billion in December to $5.5 billion in January.

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Cardano (ADA) is up 70% YTD but still isn’t the best performing coin 

Major developments within the company and an array of new projects and partnerships have put Cardano (ADA) among the top 10 coins by market cap. However, even with a 70 percent YTD rise and a 62 percent 30-day growth, the coin’s growth pales in comparison with the pumps both BSV and BCH have seen.

ADA sees major price surges in 2020

After almost two years of price stagnation, ADA seems to have caught a very bullish wave. Cardano’s native cryptocurrency has seen its value surge in the new year, recording a year-to-date increase of more than 70 percent.

Graph showing YTD price chart for Cardano (ADA)
Graph showing YTD price chart for Cardano (ADA). (Source: CoinMarketCap)

Apart from a few minor consolidations, ADA’s price has been almost consistently up in 2020. While the first few days of January showed the most forceful growth, the price for Cardano’s native cryptocurrency grew by 62.4 percent in the past 30 days alone.

Graph showing a 30-day price chart for Cardano (ADA)
Graph showing a 30-day price chart for Cardano (ADA). (Source: CryptoSlate ADA)

Cardano’s new partnerships boost its weekly growth

Cardano’s partnership with consulting and auditing giant PwC has been in the works for a long time, but it wasn’t until it was officially announced that the coin saw a major spike in price. The consulting company is set to hold a workshop this month where they will present a strategy that will consolidate the works of Cardano, the Cardano Foundation, and Cardano’s venture arm Emurgo.

The company’s ambitious plans for the coming months have created an incredibly strong bullish momentum for the Cardano community.

The news about the partnership was enough to push the stagnating coin’s price by more than 15 percent in minutes and the buying pressure hasn’t eased one bit since then. Last week has been one of the more turbulent ones in the past month, but even the coin’s slowest growth increased its price by 14 percent.

Graph showing a 7-day price chart for Cardano (ADA) (Source: Cryptoslate ADA)
Graph showing a 7-day price chart for Cardano (ADA)

However,  Cardano’s organic rise pales in comparison with the incredible pumps Bitcoin Cash (BCH) and Bitcoin SV (BSV) have seen this year.

The more controversial of the two, BSV has seen its price rise by almost 180 percent since Jan. 1, 2020 due to controversy surrounding the Wright v. Kleiman trial.

Graph showing YTD price chart for BSV
Graph showing YTD price chart for BSV. (Source: CryptoSlate BSV)

The major pump BSV has seen this year overshadows the rise of Bitcoin Cash, which saw its price increase by over 86 percent in the past 35 days.

Graph showing YTD price chart for Bitcoin Cash
Graph showing YTD price chart for Bitcoin Cash. (Source: CryptoSlate BCH)

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Wright won’t share information about the bonded courier claiming he’s bound by the attorney-client privilege

The plaintiffs in the Kleiman v. Wright lawsuit claim that Wright unlawfully asserted attorney-client and various other defense privileges over 11,000 documents. The most dramatic attempt to avoid discovery was made when Wright claimed that the bonded courier that delivered the controversial private keys is an “attorney,” making his communications “privileged.”

Wright uses non-existent companies to assert privilege over 11,000 documents

While the Kleiman v Wright trial certainly didn’t lack any dramatic turns, the latest court filing in the case might be the most ridiculous yet. Craig Wright‘s attempts to stall the trial seem to have been the last straw for Kleiman, whose legal representatives said that Wright has made any meaningful progress impossible.

“To say that discovery in this case has been challenging would be a dramatic understatement,” Velvel Freedman and Kyle Roche wrote in the filing.

Wright’s pattern of obfuscation is nothing new—he offered perjurious testimony under oath and submitted false documents to the court on several occasions. However, his latest attempts to assert privilege were so far-fetched it’s hard to believe they’re actually true.

The plaintiffs said that Wright has so far refused to disclose more than 11,000 documents by asserting attorney-client, work-product, and joint defense privileges.

According to the filing, almost all of the companies Wright is using as a tool to assert “privileges,” no longer exist. An investigation showed that out of the 17 companies linked to Craig in the documents he provided, all but nChain have either ceased to exist or are in the process of being liquidated.

Screengrab showing the current status of companies associated with Wright 
Screengrab showing the current status of companies associated with Wright. (Source: CourtListener)

Wright’s latest lie is by far the most ridiculous one seen in the entire Kleiman trial

The filing has also shown that Wright has asserted attorney-client privilege over at least 800 emails where he was not mentioned, as well as hundreds of more documents where no attorney was identified at all.

However, the most ridiculous claim that has come out of the latest filing is about the controversial “bonded courier.” The mysterious courier was set to deliver the “key slices” to unlock the encrypted file that will enable access to his alleged Bitcoin holdings on Jan. 9, 2020.

While BSV‘s price surged in anticipation of the event, the Kleiman legal team said that the “slices” they received contained only a list of 16,404 addresses.No information on the bonded courier that delivered them, the company the courier worked for, or when the message was delivered was provided, the plaintiffs said.

Wright, who was ordered to reveal information about the courier by the court, also asserted privilege on their communication. According to the filing, Wright claimed that the bonded courier himself is a lawyer, which is why their communication is protected by the attorney-client privilege.

The plaintiffs have their hands full with challenging other, more pressing claims Wright made in his filings but noted that this was a perfect example of the unacceptable behavior that has plagued the trial since the beginning.

“Plaintiffs will challenge this shortly, but in the interim, it continues to demonstrate a pattern of Craig’s abuse of privilege claims.”

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Crypto exchange Bitspark to close down despite major growth last year

Cash-to-crypto exchange platform Bitspark will be closing its doors in March this year, the company announced this week. The closure, caused by “internal restructuring,” came as a surprise to many, especially considering the fact that the company saw a 400 percent month-over-month growth in the past year.

One of the first cash-to-crypto exchanges closing its doors after six years

Bitspark, the platform in the world to send cash in, cash out Bitcoin transfer, announced that it will be closing its doors in exactly one month. The company’s blog post didn’t indicate that the decision has been a long time in the making, as the company pointed out the announcement “was not taken lightly.”

The news came as a surprise to many, as the company’s latest Cash Point product was immensely popular among its users. The demand for the product was so large, the company said, that customers have been running dry on cash for the past month. That the platform recorded a 400 percent month-on-month growth in 2019.

Maxine Ryan, the co-founder of Bitspark, shed some light on the issue in a Twitter thread, saying that the company decided to shut down after recent internal restructuring and despite the growth it has seen. The turmoil within Bitspark started after Ryan stepped down from her position as its COO.

She further said:

“This naturally caused a need to restructure the company which unfortunately landed this result. While I hoped the company would continue especially due to the MOM growth, it was determined that due to its inconstancy it wasn’t predictable enough to continue.”

Ending Bitspark on a high note

Ryan noted that while the landscape of the recent protests that have plagued Hong Kong and the spread of the coronavirus in the region haven’t directly affected the company, they certainly didn’t help.

Because the company couldn’t guarantee consistent results in the foreseeable future, its shareholders decided to end everything on a high note. Ryan said that both the Bitspark team and its shareholders decided that the best way forward was the one that will prevent the integrity decay of the company. The possibility of seeing major profits just wasn’t enough, she explained.

“No one should hold a stake in anything just for vanity of riches ahead. That’s a straight road to make bad decisions. It was do it now or later and faced with this.”

When it comes to Bitspark users, the company made the closing process as smooth as possible. According to the official announcement, customers will be able to withdraw their holdings as usual until Mar. 4. After that, account logins will be disabled for 90 days, the company said.

Liquidity will remain on the Bitspark markets until 4 March and the final ZEPH buyback will be an order on the order books as of Fe

‘Internal restructuring’ forces Bitspark to close down despite major growth last year

b. 3. Users that were unable to empty their Bitspark accounts of DEX wallets can contact customer service to request a withdrawal manually.

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ETH has been outperforming BTC this year in terms of growth

Ethereum has been outperforming Bitcoin this year in multiple metrics, as the world’s largest cryptocurrency has been sluggish ahead of the May 2020 halvening. According to data from Skew, Ethereum has shown a 47 percent YTD price growth, outpacing Bitcoin’s 29 percent. Ethereum futures and options have also seen a significant rise in volume.

The world’s second-largest cryptocurrency sees major growth in 2020

If the first month of the year is any indicator of how the rest of 2020 will pan out, then Ethereum is up for quite a year. The world’s second-largest cryptocurrency spent most of 2019 struggling with controversies and poor performance, but the new year seems to have brought a new wave of optimism into space.

According to data from crypto analytics company Skew, ETH has been trading at $190, which is the highest price it has seen in the past four months. Another interesting thing to note is that almost half of its growth was achieved in 2020 alone—Skew reported that ETH has seen a 47 percent YTD increase. Bitcoin, on the other hand, has seen its price rise 29 percent since Jan. 1, 2020.

Graph showing Ethereum's price from February 2019 to February 2020
Graph showing Ethereum’s price from February 2019 to February 2020. (Source: Skew)

Price isn’t the only Ethereum metric that has seen major growth this year. Data from IntoTheBlock has shown that the average transaction size on the Ethereum network increased by more than 122 percent since the beginning of the year.

Graph showing the average transaction size on the Ethereum network from Jan. 1, 2020 to Feb. 2, 2020
Graph showing the average transaction size on the Ethereum network from Jan. 1, 2020 to Feb. 2, 2020.

Bitcoin lagging behind Ethereum

While Bitcoin has also seen its average transaction size grow, the 73 percent YTD increase fades when compared to Ethereum’s 122 percent.

Graph showing the average transaction size for Bitcoin from Jan. 1, 2020 to Feb. 2, 2020
Graph showing the average transaction size for Bitcoin from Jan. 1, 2020 to Feb. 2, 2020

The number of large transactions on the Ethereum network has also grown from 130 on Jan. 1, to 350 on Feb. 2. The 169 percent increase is in line with the rise other metrics have seen so far.

Graph showing the number of large transactions on the Ethereum network from Jan.1, 2020 to Feb. 2, 2020
Graph showing the number of large transactions on the Ethereum network from Jan.1, 2020 to Feb. 2, 2020

The rise in metrics influenced by ETH spot trading comes as no surprise. Even the slightest rise in the coin’s price is set to push average transaction sizes, transaction numbers, and the number of active addresses up. However, what came as a surprise were the huge developments in Ethereum derivatives trading.

Data from Skew has shown that the aggregated daily volumes of Ethereum futures have seen a significant spike in mid-January.

Chart showing the aggregated daily volumes for ETH futures
Chart showing the aggregated daily volumes for ETH futures. (Source: Skew)

The aggregated open interest on ETH futures has also seen a slow, but steady rise since the beginning of the year, showing that ETH products shouldn’t be shrugged off.

Graph showing the aggregated open interest on ETH futures
Graph showing the aggregated open interest on ETH futures. (Source: Skew)

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Craig Wright plans on securing up to 6000 patents on blockchain technology in his war against BTC

Craig Wright has taken his war against Bitcoin quite seriously, as the controversial nChain scientist could have around 6000 patents on blockchain technology in the next few years. He claims he currently has already been granted between 100 and 200 patents, while nChain’s chairman Jimmy Nguyen said the company currently has around 800 pending applications.

Thousands of pending patents used as a weapon in Wright’s war against Bitcoin

Craig Wright, the self-proclaimed Satoshi Nakamoto, has taken his war against Bitcoin to the next level. Not only is the controversial nChain scientist claiming he created the world’s first cryptocurrency, but he is now also looking to monetize other key parts of blockchain technology.

In an interview with Micky, Wright revealed his outrageous patent strategy, saying that nChain aims to eventually hold around 6000 patents in blockchain technology. The BSV proponent claimed that he has already been granted between 100 and 200 patents by various institutions around the world.

His aggressive pursuit of more patents is part of his attempt to gain more control over future Bitcoin forks and other cryptocurrencies built on existing technology.

“Basically it came down to if I want to actually … try and stop all the splits, forks and altcoin scams that are popping up pretending to be blockchains, then the only way I could really think to do it was to start patenting,” he said in the interview.

Wright revealed that apart from preventing more Bitcoin ripoffs from being created, he also plans on monetizing certain patents.

Conflicting information about patents held by Wright and nChain

Not one to shy away from controversy, Wright shared a lot of conflicting information about his patents. He told Micky that he held patents on both electronic data interchange (EDI) in blockchain, as well as “all this other stuff.” 

Craig Wright’s bonded courier arrives, but Kleiman says it’s just a list of 16,000 addresses

Apart from the 100 to 200 patents he already has, he currently has 1450 papers lodged. It’s unclear whether or not any of those patents have been filed.

According to Jimmy Nguyen, the chairman of nChain and the company’s former intellectual property lawyer, the company currently has around 800 applications, some of which are pending. When it comes to patents being approved, he said that his “rough estimate” was that only about 50 percent of them have actually been granted.

Even though Nguyen no longer manages nChain’s portfolio, he confirmed that one of the patents is “related to the Lightning Network.” When asked whether or not nChain plans on taking any legal action against BTC or BCH, he was reluctant to give a straight answer. What he did say, though, shows that the crypto industry could see a very large and very confusing legal battle.

Nguyen said:

“I’m not going to comment on that now. But I would also say that as a former IP lawyer that copyright registrations give you certain rights and if and when the time is appropriate to exercise those rights, they will be exercised,”

Wright has also hinted at potential legal action. He told the publication that copyrighting and “publishing” the Bitcoin whitepaper last year has set “a clock ticking.” Now that the whitepaper has been published in his name and copyright on the document has been granted, Wright said he can take “enforcement action.”

When asked what the action will be and whether it will be against Bitcoin and its developers, he said we’ll have to wait and see. 

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