Crypto News, June 26 2018: Red Day

Highlights: Zcash update is live, the TRON mainnet launches, and EOS drama reaches near-Kardashian levels.

Zcash Overwinter Upgrade Live

Source: Zcash

The Overwinter upgrade for the Zcash network has been activated. It includes a number of improvements to the upgrade protocol, including versioning support and a transaction expiry feature. As we reported yesterday, this means that transactions with the Ledger Nano S wallet will not be available for Zcash until support is implemented. Full details can be found at the source link above.

TRON Mainnet Launch

Source: Medium

The TRON mainnet has launched as of today, according to their Medium page. In an Independence Day-themed kickoff, the event was livestreamed for a marathon 12 hours and included plenty of merchandise promos. The network will now begin the process of replacing the 27 “Genesis Representatives” currently responsible for network initiation with “Super Representatives." The updated TRON Virtual Machine is expected to launch on July 30th, 2018.

Komodo Outperforms Visa in TPS

Source: Medium

The Komodo platform is processing 10,000 TPS on its testnet, surpassing the capacity of all other blockchains and even Visa. Komodo is leveraging the bitcoin protocol on 64 independent blockchains. Of course, since this is testnet, numbers should be taken with a grain of salt, but a promising development nonetheless.

Cordite: Tokens for Enterprise

Source: CoinDesk

An independent community is on the verge of announcing Cordite, a standard built on the R3 Corda platform which would enable enterprise industries to tokenize assets. Cordite markets itself as a solution for banking and corporate organizations, with the Royal Bank of Scotland serving as its primary contributor. The Cordite community is not affiliated with R3, who has been at the center of bankruptcy rumors for weeks, but has leveraged their technology.

Announcement: Cardano Announcement

Source: Twitter

Cardano announced today via Twitter that it will be announcing an announcement at the end of the month. Also, something about Cardano development being in the quality assurance phase.

EOS Stolen Funds Hint At Poor Communication Protocol

Source: Steemit

3,750 EOS were stolen from the network following a failure of a block producer to implement a blacklist upgrade. According to the statement published on Steemit, the ECAF released two blacklists to its block producers, the second of which was not released on any official communication channel - in fact, the post concludes by saying that ECAF “has no official channel to publish its announcement currently,” and then invites block producers to develop their own publishing platform.

EOS Proof

Source: EOS Proof

EOS Proof is one possible solution for the network’s communication issues. Users upload .txt files, displayed next to their public key address. As long as the network trusts that those with the authority to communicate messages are a) not malevolent, and b) maintaining adequate security measures for their public keys, this could be a way to verify the authenticity of correspondence.

Consumers Could Lose $3 Billion This Year to Crypto Scams

Source: CoinDesk

The director of the Bureau for Consumer Protection, a division of the U.S. Federal Trade Commission, said in an address Monday that consumers could be set to lost over $3 billion to cryptocurrency fraud by the end of the year. The prediction was based on figures of money lost to scams in the first two months of 2018 - $532 million, by their estimate. He ended with a call for increased regulation and investor due diligence.

a16z Launches $300 Million Crypto Fund

Source: a16zCrypto

a16z will launch a $300 million crypto fund to support blockchain startups and protocols. Citing the benefits of distributed ledger technology and a growing need for improved infrastructure, the team aims to invest in long-term solutions over time. They are inviting interested parties to reach out to them through contact info found at the source link above.

Like what you're reading? Stop by Twitch to contribute to the daily news curation. Or, check us out on Twitter and YouTube to keep up-to-date.

Written content adapted by @thepinkfreudian.