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China has released its latest government-sponsored rankings of major cryptocurrencies. China has released its latest government-sponsored rankings of major cryptocurrencies on March 22, placing Bitcoin (BTC) in 15th, while EOS keeps its top spot. Tron (TRX) came in second, after overtaking Ethereum (ETH) in February. The crypto rankings by China’s Center for Information and Industry Development (CCID) were first announced in May last year. In this eleventh edition of the index, EOS has remained as the top-ranked blockchain, a place occupied by the platform since June 2018. The eleventh CCID Global Public Chain Technology Evaluation Index puts Tron on the second spot, as did the tenth edition. The ninth edition had previously placed Ethereum in the second spot, while Tron wasn’t present at all on the list. In the tenth edition, Bitcoin had moved from number 15 to number 13, now falling back down two spots to occupy 15th place again. As Cointelegraph recently reported in a dedicated ana..
The major Japanese investment bank has published the results of a pilot project, aimed at implementing blockchain tech for securities post-trade processing. Daiwa Securities Group, Japan’s second largest securities brokerage, has announced the completion of a blockchain proof-of-concept (PoC) in a press release shared with Cointelegraph on Feb. 19. The PoC implemented blockchain in the trade matching of post-trade processing. The blockchain pilot project, dubbed “JPX Proof-of-Concept Testing for Utilization of Blockchain / DLT in Capital Market Infrastructure,” involved 26 companies, including financial institutions, system providers and institutional investors. The reported goal of the pilot — which just completed the second of two phases — was to increase the efficiency of blockchain tech in the post-trade process. According to the results of the pilot, the implementation of standardized specifications and workflow processes for the blockchain system is expected to reduce operationa..
With a few notable exceptions, most of the top 20 cryptocurrencies by market cap are fluctuating 2 percent in either direction on the day. Wednesday, Feb. 13: Cryptocurrencies are seeing tempered price action overall. With a few notable exceptions, most of the top 20 coins by market cap are fluctuating 2 percent in either direction on the day, as data from Coin360 shows. Market visualization by Coin360 Top cryptocurrency Bitcoin (BTC) has seen virtually no price change on the day and is trading at $3,628 to press time, according to CoinMarketCap data. On its 7-day chart, the coin is up 6.5 percent after a spike on Friday, Feb. 8, when Bitcoin soared by almost $300 in value. On the month, the coin has come almost full circle to trade down by a mild 1 percent. Bitcoin 7-day price chart. Source: CoinMarketCap Mike Novogratz, a former Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital, has today argued that Bitcoin occupies a unique place in the crypto landscape an..
South Korea’s Busan has signed an MoU with blockchain firm Hyundai Pay to revitalize the blockchain industry. The South Korean city of Busan has signed a Memorandum of Understanding (MoU) with blockchain company Hyundai Pay, according to a press release published on Feb. 12. According to the announcement, South Korea’s second most populous city after Seoul and Hyundai Pay, a company that developed a blockchain platform and a cryptocurrency wallet, will cooperate in order to promote the growth of startups and jobs in Busan. The MoU specifies plans to relocate the Hyundai Pay headquarters to Busan and to create needed fintech infrastructure. The MoU also aims to revitalize the blockchain industry through “contribution to the development of local ICT [Information and communications technology] industry through mutual growth with related start-up businesses,” states the press release. An official of Busan City underlined: “We are planning to expedite blockchain-based platforms and service..
The head of VTB compares crypto mining with printing fake money, says crypto will have a very small market niche in the future. Andrey Kostin — the head of VTB, Russia’s second-largest bank — has compared cryptocurrency mining with counterfeiting, major Russian news agency TASS reports Monday, Feb. 4. While speaking to students who participated in an educational contest organized by major Russian tech corporation Yandex, Kostin said: “I am not a big fan of the crypto ruble. To me, this is a kind of counterfeiting. A person who is mining [cryptocurrencies] is similar to someone who is printing money. During the initial euphoria, everyone thought that everything can be paid in crypto starting tomorrow, but it hasn’t happened so far.” Kostin believes there will be a relatively small market niche for cryptocurrencies in the foreseeable future, for as the global financial industry is getting more and more transparent, offshore holdings are gradually disappearing. Moreover, the banker belie..
A South Korean conservative party has declared that the implementation of blockchain tech will “improve the way the party operates.” South Korea’s conservative political party, the Liberty Korea Party (LKP), has declared their aim to use blockchain technology in four major areas, according to an official announcement published on Jan. 31 . The LKP, previously known as the Saenuri Party, is currently the second-largest party within the South Korean national legislature, occupying more than one third of the 20th National Assembly seats. As of 2015, the LKP includes more than 3 million members. The party intends to enter a new era of open digital democracy by implementing blockchain technology, according to their press release. The initiative aims to make information more transparent and build “a new system in which citizens and members of the party can participate in a revolutionary way.” The release adds: “The blockchain, which is regarded as one of the key technologies of the 4th indu..
Enterprise blockchain platform Insolar has launched its testnet, recording over 10,000 transactions per second. Enterprise blockchain platform Insolar (INS) has successfully launched its testnet on Jan. 22, recording over 10,000 transactions per second (TPS), according to data from its block explorer Insolar Explorer. As the company announced on Sunday, Insolar set up its private testnet launch in order to prove its scalability and speed, with the goal to reach at least 10,000 TPS. The original Bitcoin (BTC) blockchain is able to process about 7 TPS, while the network of another major coin Ethereum (ETH) can process 20 TPS, as recently reported by Cointelegraph. Ripple (XRP), the second biggest crypto by market cap, “consistently handles” 1,500 TPS, but can purportedly scale up to 50,000 TPS. In the recent testnet announcement, Insolar has also set the release date for its technical white paper for Jan. 30. Insolar notes that its node operating system differs significantly from other ..
QtumX protocol can reportedly handle more than 10,000 transaction per second. What about others? Open-source project Qtum representatives claim that their enterprise blockchain dubbed ‘QtumX’ can accommodate “more than 10,000” transactions per second (TPS), according to a press release recently shared with Cointelegraph. With yet another player being added to the scalability race, it makes sense to look back and see how the main blockchains and cryptocurrencies stand in regard to TPS — and whether their numbers are actually authentic. Transaction speed: How important is it?Scalability is one of cryptocurrencies’ main issues, especially when it comes to the older coins. In fact, one of the first public comments on Bitcoin’s (BTC) white paper opened with the following line: “We very, very much need such a system, but the way I understand your proposal, it does not seem to scale to the required size.” Ten years on, the problem still persists — the original blockchain can reportedly proce..
Switzerland-based crypto exchange ShapeShift reports seeing a 175 percent increase in law enforcement agency requests in the second half of 2018. Law enforcement requests sent to Switzerland-based cryptocurrency exchange ShapeShift rose 175 percent in the second half of 2018, according to a new Compliance Transparency report published by the exchange Jan. 18. In a blog post accompanying the report, Shapeshift outlines that it typically receives requests from law enforcement agencies for data including crypto addresses (in or out of the Shapeshift system), transaction IDs, identity information (names, emails, IP addresses), cryptocurrency or crypto asset information and more. ShapeShift emphasizes that in most cases it is not informed of the details of the investigation or probe for which the data is being gathered. The report reveals that Shapeshift received a total of 44 subpoena requests in Q3 and Q4 2018 — a 175 percent increase as compared with a combined total of 16 in the preced..
Major cryptocurrency exchange OKEx has launched a new crypto derivative product called “Perpetual Swap.” Malta-based major cryptocurrency exchange OKEx has launched a new crypto derivative product, according to a press release shared with Cointelegraph, Dec.19. As Cointelegraph reported at the beginning of the month, the new product, dubbed Perpetual Swap, is a virtual derivative that lets users speculate on the future value of BTC/USD, according to OKEx’s index. Per the release, currently each swap contract has a notional value of $100 equivalent in Bitcoin (BTC) and features leverage ranging from 1x to 100x. Moreover, perpetual swaps reportedly have no expiration, meaning “positions can be held indefinitely.” OKEx is currently the world’s second largest exchange by adjusted daily trade volume, seeing over $1 billion in trades on the day to press time. New cryptocurrency derivative products are also in the works from traditional financial firms. As per a Cointelegraph report, the wor..
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