Monthly Archives

January 2020

Bitcoin’s Taproot Upgrade Won’t Help Privacy Where It Matters

By | blog

The activation of Bitcoin’s (BTC) Taproot upgrade is moving forward as official Bitcoin Improvement Proposals (BIP) were submitted for review on Jan. 24. Even though Taproot is often hyped up for its privacy improvements, its true impact is likely to be very minor. What is Taproot? Taproot is the name given to a proposal coined by former Blockstream CTO Gregory Maxwell in January 2018. The actual implementation was later developed by a team of Bitcoin contributors led by Pieter Wuille. Taproot is a proposal that enhances Bitcoin’s scripts, a set of instructions attached to each transaction that explains how the funds can be used.

Read More

‘I Think XRP Is a Scam’ Says Former UFC Star and BTC Bull Ben Askren

By | blog

As regulatory concerns over XRP — the world’s third-biggest crypto asset — have intensified, some celebrities are stepping in to voice more FUD about the coin. Ben Askren, former UFC fighter and known Bitcoin (BTC) bull, has driven more scepticism toward XRP with a short tweet on Jan. 28: “I think XRP is a scam.” Askren loves Bitcoin and Litecoin, not XRP Askren’s latest cryptocurrency verdict builds on a background of previous endorsements of other cryptocurrencies. The famous former Olympic wrestler is not only bullish on Bitcoin, but also supports Charlie Lee-founded Litecoin (LTC), the seventh biggest cryptocurrency by market cap as of press time. In January 2019, Askren was purportedly sponsored by the Litecoin Foundation

Read More

Bitcoin Cash Sees no Blocks for 5 Hours, No Significant Backlog Due to Low Usage

By | blog

The Bitcoin Cash (BCH) blockchain has seen no new block for five hours earlier today. However, due to low usage, the transaction backlog was cleared without difficulty and normal activity resumed. Data available on advanced blockchain explorer Blockchair show that BCH block number 620025 was mined at 2:14 on Jan. 30. The next block, number 620026, was found at 7:33 of the same day with 6,950 transactions in 2.33 megabytes, an unusually high number. The following block carried 1,590 transactions in 0.56 megabytes, after which another block has seen a standard amount of about 100 transactions, with regular activity resuming. For comparison, according

Read More

Mercedes Will Use Blockchain to Track Carbon Emissions in Cobalt Supply Chain

By | blog

Major car manufacturer Mercedes Benz and blockchain startup Circulor are jointly rolling out a pilot aimed at the tracing carbon emissions in the cobalt supply chain. According to a Jan. 30 press release, the project by Mercedes and Circulor comes as part of the Startup Autobahn initiative, aimed at identifying next-generation automobiles. The companies will deploy blockchain to trace the emissions of climate-relevant gases and the amount of recycled materials along the complex supply chains of battery cell manufacturers. Mercedes eventually intends to use data collected during this pilot to develop its new carbon-neutral passenger car fleet. But first is cobalt The project

Read More

Coinbase Custody and Bison Trails to Lobby Staking Adoption

By | blog

Coinbase Custody and Bison Trails have joined the ranks of the Proof of Stake Alliance (POSA), a Jan. 30 press release announced. Together with the alliance, they will advocate for the adoption of clear regulations on staking proceeds, as well as other development initiatives. The Proof of Stake Alliance is an advocacy group founded in 2019 and featuring more than 18 members. It engages in regulatory and congressional discussions to promote staking-friendly regulation, as well as organizing events and educational initiatives. As COO at Polychain Capital and POSA board member Matt Perona explained to Cointelegraph, the organization’s primary goal is

Read More

Former Coinbase COO Joins Figure, Creator of the Provenance Blockchain Platform

By | blog

Asiff Hirji has joined Figure, a U.S. lending company utilizing blockchain to process the loans, a Jan. 30 press release revealed. Hirji will be company’s new president, having previously served as president and COO of Coinbase and other financial services companies. During Hirji’s two year tenure at Coinbase, he is credited with growing the company to over $1 billion in revenue and overseeing the expansion of its business and management team. Previously, Hirji occupied leadership roles at Andreesen Horowitz, TD Ameritrade, TPG Capital, Saxo Bank and others. At Figure, he will lead key business divisions while working to establish the

Read More

Bank of Japan Must Be Ready to Issue Digital Currency, Says Exec

By | blog

The deputy governor of the Bank of Japan has said the institution must be ready to issue a central bank digital currency (CBDC) should public demand surge in response to technical developments. In a strong statement of a future-oriented vision for the bank, Masayoshi Amamiya told attendees at a seminar — as per a Reuters report on Jan. 30 —  that: “The speed of technical innovation is very fast. Depending on how things unfold in the world of settlement systems, public demand for CBDCs could soar in Japan. We must be prepared to respond if that happens.” BOJ: no imminent CBDC plans

Read More

Coinbase Launches International Cryptocurrency Custody Arm

By | blog

Major United States-based cryptocurrency exchange Coinbase has established an entity in Ireland to expand its crypto custody services to European institutions. According to a Coinbase announcement published on Jan. 30, the new entity is called Coinbase Custody International and is based out of Dublin. The firm’s services will be the same as those provided by Coinbase Custody in addition to taking over all the staking activities performed by the exchange. Coinbase Custody initially began offering staking for select cryptocurrencies in March 2019, and expanded that service to international the following November. The advantages of a local operation While Coinbase Custody has been serving European clients in

Read More

US Presidential Candidate Andrew Yang Talks Crypto Ahead of Iowa Caucuses

By | blog

United States Democratic presidential candidate Andrew Yang talked about cryptocurrency regulations ahead of the upcoming caucuses in the state of Iowa. During an interview with Bloomberg Politics on Jan. 29, Yang said that there needs to be a uniform set of rules and guidelines when it comes to the use of crypto assets: “Right now we’re stuck with this hodgepodge of state-by-state treatments and it’s bad for everybody: it’s bad for innovators who want to invest in this space. So that would be my priority is clear and transparent rules so that everyone knows where they can head in the future and

Read More

Binance Poaches Huobi’s European and Latin American Business Lead

By | blog

Binance, the second-largest cryptocurrency exchange by 24-hour volume, has hired an exec from one of its foremost competitor exchanges, Huobi. According to an announcement shared with Cointelegraph on Jan. 30, Binance has hired Josh Goodbody as its new director of European and Latin American growth and institutional business. Prior to joining Binance, Goodbody worked as head of Europe and Americas at Huobi, where in November 2019 he formed the Global Institutional Business department — a team and line of products specifically targeting institutional products, under which the exchange recently launched its Huobi Brokerage platform. Before Huobi, Goodbody worked as a financial lawyer,

Read More