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BITCFX last won the day on June 28

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  1. It’s common for longtime cryptocurrency investors to advise newcomers to invest heavily in bitcoin and — depending on their proclivity toward “Bitcoin maximalism — ethereum before investing in what many of them not-so-affectionately refer to as s–tcoins. What’s less common, though, is for an altcoin creator himself to give that same advice. Yet that’s exactly … Continued The post Buy a Whole Bitcoin Before Buying Any Altcoins, Says Litecoin Creator Charlie Lee appeared first on CCN View the full article
  2. Kik rolled out its much anticipated the standalone app, KinIt just a few months after it posted its product vision on Medium. The product is quite unique in that it has the potential to instantly become the largest consumer-facing cryptocurrency app. Kin’s vision is quite ambitious but with more than $100 million in the bank form The post Kik Beta App ‘Kinit’ Goes Live on Google Play after $100 Million ICO appeared first on CCN View the full article
  3. Kik rolled out its much anticipated the standalone app, KinIt just a few months after it posted its product vision on Medium. The product is quite unique in that it has the potential to instantly become the largest consumer-facing cryptocurrency app. Kin’s vision is quite ambitious but with more than $100 million in the bank form … Continued The post Kik Beta App ‘Kinit’ Goes Live on Google Play after $100 Million ICO appeared first on CCN View the full article
  4. Aerospace giant Boeing has announced its intention to tap blockchain technology to keep an eye on unmanned air vehicles used for cargo transport and urban air travel in the future. Boeing is partnering artificial intelligence (AI) firm SparkCognition to develop a decentralized platform capable of ‘tracking unmanned air vehicles in flight and allocate traffic corridors … Continued The post Future Flight: Boeing Will Use Blockchain Tech to Track Unmanned Air Vehicles appeared first on CCN View the full article
  5. According to a report on the social media platform Yours.org, software developers associated with the mining giant Bitmain plan on launching a smart contract protocol for the Bitcoin Cash (BCH) network. The project called ‘Wormhole’ will utilize the increased data-carrier-size and OP_Return transactions alongside a protocol based on the Omni Layer project. Also read: Group or Tokeda? A Look at the BCH Color Coin Debate Bitmain Developers Debut the Omni Layer-Forked Wormhole Protocol for Bitcoin Cash On July 16 a report written on the platform Yours.org detailed that Bitmain developers are in the midst of creating a smart contract system for the Bitcoin Cash (BCH) network. The article written by the China-based, Cindy Daily, explained that Bitmain programmers introduced a token proposal called “Wormhole” in Chinese Wechat groups on Monday. The reporter explained that her news was roughly translated and said that Bitmain would officially reveal the concept in the coming days. Within the Chinese Wechat conversations, the developers state that innovation requires a “permissionless community” and they have been studying ways to implement smart contract solutions on the BCH chain without utilizing a consensus upgrade. “After tremendous research effort, we have paid attention to the Omni Layer protocol, a scheme to realize token issuance through the OP_Return opcode — It is the technical basis for daily distribution and circulation of USDT (Tether),” explains the report. Two-Layer Security Approach The reporter’s account also explains that Wormhole will utilize Bitcoind nodes and consensus will not need to be changed. Wormhole Cash (WHC) will use a two-layer security approach and the first layer will be BCH transaction security. The second layer run on Bitcoind will consist of nodes that won’t process data that doesn’t meet the Wormhole protocol requirements. Another tokenization project news.Bitcoin.com reported on this past February is Counterparty Cash which is different from Omni layer but has similarities. It will be interesting to see an attempt to deploy a token creation mechanism for BCH alongside smart contract capabilities. A few members of the BCH community has been asking developers to create a fork of Omni Layer for quite some time now. Reportedly the Chinese-based mining firm will reveal the full details of this project soon. What do you think about an Omni Layer-like idea for the Bitcoin Cash network and the Wormhole Cash currency? Let us know your thoughts on the Bitmain developer’s new idea in the comment section below. Images via Shutterstock, and Cindy Daily. Want to get a few bits of BCH to test out this awesome technology check out our Bitcoin Cash Faucet today! The post Omni Layer Fork Called ‘Wormhole’ Debuts for Bitcoin Cash appeared first on Bitcoin News. View the full article
  6. The blockchain subsidiary of the Russian e-payments firm Qiwi plans to incentivize staff by giving them tokens tied to the firm's net profits. View the full article
  7. The developer behind the purported and much-publicized Kodak-branded bitcoin mining equipment has officially halted operations and has denied ties to Kodak. As CCN reported, KashMiner, a bitcoin mining equipment, was showcased at CES 2018 back in January by the company Spotlite USA, which claimed to be a licensee of the Kodak brand. Spotlite stated that The post SEC Shutters Kodak-Branded Bitcoin Mining Rig ‘KashMiner’ appeared first on CCN View the full article
  8. After being denied a post-conviction relief extension in February 2018, Ross Ulbricht’s family and legal team filed a Petition of Certiorari with the U.S. Supreme Court based on constitutional violations in the investigation and at sentencing. The petition was supported by 21 organizations, however, the Court denied Ulbricht’s petition on June 28. The fight to free Ross Ulbricht, 33, is now reinforced with a new petition created on Change.org, 3 days ago by FreeRoss.org. There are currently 6,242+ signatures and the petition aims at reaching 7,500. Also read: Ross Ulbricht Continues to Fight for Freedom With Supreme Court Petition “It’s Not the End,” Mother Cried at Her Son When Taken Back to Prison Cell “It’s not the end.” Lyn Ulbricht had cried at her son in the courtroom when a marshal set his hand on his back to signal it was time to return to the cell after hearing the sentence. That was in Manhattan’s U.S. district court in May 2015. That day, Lyn had declared she would never turn away from her son, whom she considers innocent. The fight to seek justice for their son is not over for this family. “My son, Ross Ulbricht, is serving a double life sentence plus 40 years, without the possibility of parole, for a website he made when he was 26 years old and passionate about free markets and privacy. Ross, an Eagle Scout, scientist and peaceful entrepreneur, had all non-violent charges and no criminal history.” The petition says. “A Sentence That Shocks the Conscience.” Ulbricht was accused of being the creator of Silk Road, the infamous international dark site and drug bazaar created in 2011, under the pseudonym “Dread Pirate Roberts,” aka “DPR” and was arrested in 2013. The physics graduate and alleged mastermind behind Silk Road, described in the petition as “an e-commerce platform similar to eBay, where individual users chose what to list for sale,” was convicted in February 2015 after a four-week trial on all seven counts, from drug trafficking and money laundering to maintaining an “ongoing criminal enterprise.” All to be served concurrently with no chance of parole. A sentence usually reserved to drug kingpins. Judge Katherine Forrest said she would give Ross “the severest sentence possible.” Restrained by law from issuing the death penalty, she gave him a walking death sentence instead. “Ross’s appeal points out “grotesque disparity” between Ross’s life sentence—which is unheard of for a young man with no criminal history and all non-violent charges, and the sentences of other Silk Road defendants.” FreeRoss.org writes. Ulbricht’s new legal team, Williams & Connolly, also argue that there have been discrepancies in the investigation, namely with the participation of two rogue agents leading the federal investigation into Silk Road. “Ross is condemned to die in prison, not for dealing drugs himself but for a website where others did. This is far harsher than the punishment for many murderers, pedophiles, rapists and other violent people.” The petition says. Ulbricht has been relocated from New York to a maximum-security penitentiary called USP Florence. The family says this prison is meant for some of the country’s most violent offenders and they don’t understand why Ross is being kept there for his life sentence. Do you think the sentence faced by Ross Ulbricht was fair and do you think the Change.org petition will be heard? Let us know in the comments section below. Images courtesy of Freeross.org and Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Change.org Petition Attempts to Fight for Ross Ulbricht’s Freedom appeared first on Bitcoin News. View the full article
  9. Bitmain, the cryptocurrency industry’s most valuable company, has just opened an office in Silicon Valley ahead of its planned initial public offering (IPO) later this year. The Silicon Valley Business Journal reports that the China-based cryptocurrency mining hardware manufacturer has just moved into 20,000 square feet of office space in downtown San Jose, CA, filling … Continued The post Bitcoin Mining Giant Bitmain Opens 20,000 Sq. Foot Office in Silicon Valley appeared first on CCN View the full article
  10. The US remains a leading destination for ICO projects according to a new study that also ranks Switzerland and Singapore in the top three. The report notes that authorities in other jurisdictions, like Russia and Estonia, are working to adopt favorable regulations in order to attract more crypto startups. The findings coincide with another study identifying 78% of all ICOs as scams. Also read: Less Than Half of ICOs Survive Four Months After Sale, Study Finds A Third of the Largest ICOs Held in the US Despite regulatory uncertainty, the United States has established itself as the leading destination for companies conducting Initial Coin Offerings (ICOs), a new study confirms. According to the recently published report, 30 of the 100 largest token sales were held by companies based in the US. The data compiled by the team of the Crypto Finance Conference places Switzerland second with 15 ICOs, and Singapore third with 11 of the biggest coin offerings. “ICOs continue to gain momentum. They raised $6.3 billion in the first quarter of 2018 — more than was raised in all of 2017,” said the chief executive of CFC, Andrea-Franco Stöhr, quoted by Venture Beat. In a released statement, he also commented that the research provides an opportunity to understand which countries are embracing blockchain and crypto projects and how they do it. The authors of the study also note that a number of countries are making efforts to adopt and implement regulations that would attract and encourage more initial coin offerings. The Russian Federation, which hosted six of the top 100 projects, is one of them. Another report published earlier this year claimed that startups with Russian participation raised $310 million. That study covered a total of 370 token sales. The other nation that has been mentioned in the study as a crypto-friendly jurisdiction is Estonia, with four of the largest ICOs. According to some reports, the tiny Baltic country accounts for up to 10% of all funds raised through initial coin offerings last year. 78% of ICO Projects Identified as Scams Despite two recent studies suggesting investors are still bullish on ICOs, a research conducted by the Boston College revealed that less than half of ICOs survive four months after sale. Now, another study, authored by the research company Satis Group, tells us that a staggering 78% of all coin offerings conducted last year have turned out to be scams. These ICOs promised big profits but shared very little information about the project and the team behind it or didn’t even publish a white paper. Most of them disappeared right after the token sale. The updated data in the “Cryptoasset Market Coverage Initiation: Network Creation” report, released last week, also shows that 4% of the ICO projects have failed to meet their fundraising targets and have returned the capital to the investors. Another 3% were never listed on a trading platform. Only 15% of the coins sold through ICOs continued to be listed and traded on exchanges. Of those currently trading, 7% are deemed ‘successful’, 3% are said to be ‘promising’, and 4% are tagged ‘dwindling’. It’s been estimated that of the $12 billion raised by ICOs, $1.3 billion (11%) was lost to scams, $1.7 billion (14%) disappeared in failed projects, and $624 million (5%) went to those that had gone dead. However, more than 70%, or $8 billion USD, went to ICOs that eventually reached exchanges. According to the study, most of the funds appropriated by scams were invested in three projects. These are Pincoin ($660 million), Arisebank ($600 million) and Savedroid ($50 million). Do you think the regulatory efforts in many jurisdictions will decrease the number of fraudulent ICOs? Share your expectations in the comments section below. Images courtesy of Shutterstock, Satis Group. Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. The post US Ranked Top Destination for Coin Offerings, Majority of ICOs Identified as Scams appeared first on Bitcoin News. View the full article
  11. Japanese digital services firm GMO Internet has just launched a new web bank that it says will soon use blockchain to facilitate payments. View the full article
  12. A director at ‘big four’ accounting giant PricewaterhouseCoopers (PWC) in Australia has quit the firm to join crypto exchange bitcoin.com.au as its newest CEO. Ben Ingram left PwC Australia back in March, where he was responsible for digital strategy, accounting and consulting, as its director before taking over the exchange as its chief executive, Business The post ‘Big Four’ Giant PwC Director Quits, Joins Cryptocurrency Exchange as CEO in Australia appeared first on CCN View the full article
  13. Nearly two years after its initial announcement and months of delays this year, the world’s first bank-owned cryptocurrency exchange finally sees its public launch in Japan. With an announcement on Tuesday, Japanese financial giant SBI Holdings has formally launched its cryptocurrency exchange platform, dubbed ‘VCTRADE’. As reported by CCN in early June, SBI first announced The post World’s First Bank-Owned Cryptocurrency Exchange Launches Publicly in Japan appeared first on CCN View the full article
  14. Tech giant IBM is seeking to its widen blockchain research, development and education efforts through a partnership with Columbia University. View the full article
  15. The latest attempt to create a crypto pegged to the U.S. dollar, or stablecoin, combines 21st-century technology with an invention from the 1930s. View the full article