EOS: Lack of Decentralization Exposed with Reversed Transaction

Blockchain protocol EOS, run by Block.one, has just become the subject of a new crypto scandal. It all began on November 9th, when a picture emerged on Reddit of a moderator on EOS reversing a transaction that had already been confirmed. Decentralized? According to the Reddit user u/auti9003, a reverse transaction occurred without the owner’s permission. The arbitrator, Ben Gates, referred to the blockchain project’s constitution as a basis for his decision. Gates wrote: “Under the powers afforded to me as arbitrator under article 6 of the Rules of Dispute Resolution, I,…

Coinbase CTO Believes Home Cryptocurrency Mining is the Future with Coinmine

Coinbase’s CTO, Balaji Srinivasan, has just announced his thoughts of the future of home cryptocurrency mining. Bitcoin mining and crypto mining in general are a huge industry, which exploded last year when digital currency interest hit mainstream. A new startup is trying to take another stab at popularizing at-home cryptocurrency mining, a business model that has not been successful in the past. Home Cryptocurrency Mining: Coinmine Srinivasan told CoinDesk that he is placing his bets on this new at-home crypto mining startup, Coinmine. Srinivasan said: “The big difference with decentralized…

Japenese Crypto Exchange Coincheck Resumes NEM (XEM) Trade Ten Months Later

After ten months of stagnancy, the newly re-opened Japenese cryptocurrency exchange Coincheck has resumed its NEM (XEM) trading. According to a South Korean news source FNNews, Coincheck has restricted its platform by external ‘security experts.’ 一部仮想通貨の入金・購入再開のお知らせ(ETH・XEM・LSK)https://t.co/g3Hc9rzxZ1 — Coincheck(コインチェック) (@coincheckjp) November 12, 2018 NEM (XEM) Trading Resumes on Coincheck Back in January, Coincheck suffered the largest cryptocurrency exchange hack in history. $530 million USD worth of XEM was stolen from the Japanese exchange. After the investigation, the company announced it would repay the 260,000 investors affected by the hack. At the time of…

EtherDelta Founder Charged by SEC as an Unregistered Exchange

Zachary Coburn, the founder of EtherDelta, has just been charged by the US Securities and Exchange Commission (SEC) with operating an unregistered securities exchange. The SEC released the news via a press release yesterday. EtherDelta Charged According to the report by the SEC, over the course of 18 months, EtherDelta users placed over 3.6 million orders for digital currencies. Among those ordered were coins considered securities by US federal laws. Under the current law, EtherDelta was supposed to register in the US or apply for an exemption. However, the cryptocurrency exchange…

Two Teachers Mine for Ethereum Using School’s Power

Teachers Mine for Ethereum: Mining for cryptocurrency comes with its controversy. Energy consumption is already the most eyebrow-raising aspect. So what about using the local school’s computers to mine for Ethereum… during school time? Oh, and you’re the principal of the school. This is exactly what happened in Hunan Province, China. Teachers Mine for Ethereum: What Happened? According to Hong Kong news outlet HK01, two Puman Middle School principals were caught using the school’s power to mine Ethereum. The school’s general manager noticed the computers’ fans were louder than normal and…

A Guide to Understanding Cryptocurrency White Papers

Anyone looking to invest in bitcoin or any other form of cryptocurrency has surely spent some time researching and reading about it. Entering the crypto world without any knowledge would be a crazy and reckless thing to do, especially if you are planning to invest money into it. While blogs, forums, and the many available cryptocurrency websites put no limit to the amount of information available for anyone looking for help, there is no denying that the best way to understand a cryptocurrency would be to read its white paper.…

Winklevoss Lawsuit Continues; Lawyer States Defendant Committed ‘No Misconduct’

Earlier this month, the NY Times reported that the crypto-famous Winklevoss twins have accused Bitcoin Foundation founder Charlie Shrem of Bitcoin fraud. The Winklevoss lawsuit has now turned into a heated battle between both parties. Winklevoss Lawsuit According to the report by the NT Times, Shrem made several lavish purchases in 2018, that caught the attention of the Olympian twins. The pair filed a civil lawsuit against Shrem accusing him of stealing thousands of Bitcoin from them in 2012. “Either Shrem has been incredibly lucky and successful since leaving prison, or—more likely—he…

Startups Urgently Need to Adapt to a Changing Market as Token Sales Drop 90 Percent

With a bear market and a change in sentiment around ICOs, the risk of using such a fundraising mechanism now constitutes a cheaper, more reliable way of hosting a crowdsale. A staggering collapse this year in ICO funding – from $2.5 billion in February to $181 million by September – means that it has become vital for startups to actively reduce their risk and costs. This means trimming the fat where possible. An equitable way of achieving this is through one of the emerging ICO platforms wherein a token sale…

Crypto Airdrops are Now Illegal in China

China does not like cryptocurrency. The country has repeatedly imposed strict sanctions against its use and relative businesses. Now the central bank of China is adding to its list by banning crypto airdrops. China Bans Crypto Airdrops After ICO Abhorrence The People’s Bank of China, or PBoC, has classed token airdrops as “disguised” Initial Coin Offerings (ICOs). It detailed its new scrutiny in a financial stability report, published on Friday, November 2nd. The bank’s regard for crypto airdrops echoes its abhorrence of ICOs, describing them as “illegal” fundraisers that lead…

Ethereum (ETH) and EOS Cross Chain Token Trading Success by Bancor

Bancor, a decentralized liquidity network, has just announced it has completed its partnership with Block.one to provide cross-blockchain token swaps with EOS and Ethereum (ETH). We are thrilled to announce that our Cross-Blockchain Decentralized Liquidity Network, #BancorX, has officially been pushed live — enabling automated token conversions between 110+ ERC20 and EOS-based tokens. https://t.co/E54nlUElmG pic.twitter.com/NSocQZr11A — Bancor (@Bancor) November 5, 2018 EOS and Ethereum (ETH) Automated Token Conversion The company originally announced its partnership and venture in September. The announcement just published a few hours ago reads: “BancorX enables automated conversions…