Crypto News, May 28, 2018: Red Day
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First Cardano Smart Contract Testnet Launched
Source: Cardano
KEVM, the first testnet for Cardano smart contracts, has launched. According to the source, any application which works on the Ethereum Virtual Machine should also work on the testnet. Cardano states that while Solidity is still the recommended language for smart contract development on the platform, they hope to eventually have support for “high-level languages” like Java and Python.
Trading App Taylor Hacked for 2,500 ETH
Source: Crypto Slate
Cryptocurrency trading app Taylor was hacked last week, resulting in the loss of approximately 2,500 ETH ($1.5 million) and a percentage of their proprietary TAY coin. In a statement, the Taylor team said that the hack was not a result of a smart contract exploitation, but rather by compromising a password-management app being used by the team to manage investor funds. TAY has been de-listed from IDEX and the team plans to release a new coin to all those affected by the loss (excluding hacker addresses).
Russian Federation Receives Confession From BTC-E ‘Mastermind’
Source: Verified Topics
The Russian media is reporting that Alexander Vinnik of the cyptocurrency exchange BTC-e has confessed to money laundering and other fraudulent activities using the exchange during the period of 2011-2017. Both the Russian Federation and the United States have previously attempted to extradite Vinnik, who is being held in Greece.
ETC Forks to Diffuse "Difficulty Bomb"
Source: CoinDesk
Ethereum Classic (ETC) has a hard fork coming in the next several days in order to diffuse the “difficulty bomb” coded into the Ethereum network. The “bomb” is an adjustment scheme by which mining becomes increasingly difficult ahead of a protocol shift (such as a switch to Proof-of-Stake). Current users will need to update their software if they have not done so already.
Peercoin Gets Ledger Support
Soure: Twitter
Announced via the official Twitter page, hardware wallet Ledger Nano S will support Peercoin (PPC). A link to the full roadmap of future supported cryptocurriencies can be found in the Twitter announcement.
Poloniex Issues New KYC Policy for Legacy Account Holders
Source: Wallet Investor
Cryptocurrency exchange Poloniex issued a notice of policy change to its legacy account holders via email, giving them 14 days to comply with new verification standards. Among the verification requirements is a photo and form of government-issued ID. The notice prompted a backlash from some legacy account holders who alleged that Poloniex did not honor previous statements regarding timelines and availability of withdrawals for legacy accounts on the exchange.
Announcement: Huobi 10 Index
Source: PR Newswire
Huobi Group has officially launched the “Huobi 10 index,” which will select 10 large-scale digital assets and measure performance based on the USDT (Tether) pair. Another upcoming launch, HB10, will provide a weighted metric for the 10 digital assets. The Huobi Group also plans to develop new indices, giving investors a wide variety of performance metrics by which to evaluate their holdings.
New Listing: CIVIC (Binance)
Source: Binance
Binance will open trading for CIVIC (CVC) on May 28th, 2018 at 9:00am UTC.
Bithumb Bans Trading in 11 Countries
Source: CCN
Bithumb, South Korea’s biggest cryptocurrency exchange, announced today that it would ban trading in 11 countries, including North Korea. All 11 countries are listed on the Non-Cooperative Countries and Territories (NCCT) blacklist, which keeps an accounting of countries viewed as not aggressive enough in preventing money laundering and terrorist funding.
Cryptopia Announces Bulk Delisting
Source: Cryptopia
25 coins are set to be de-listed from the Cryptopia Exchange, following a determination by Cryptopia that these coins constitute “financial products” and are not permitted to be listed. A “financial product,” in legal terms, is analogous to a “security” under U.S. Law. The market for these coins closed today, with full de-listing scheduled for June 28, 2018. The list of coins can be found at the source link above.
Chinese Developer Announces Uber for Blockchain
Source: CoinDesk
Co-founder of the Chinese ride-sharing app Kuaidi Dache has announced plans to develop a ride-sharing platform on the blockchain. The specifics, including which blockchain will be used to develop and host the project, have not yet been announced.
Deloitte: Blockchain to “Revolutionize” Retail
Source: Deloitte
A report by UK-based firm Deloitte has detailed the ways in which retail and consumer-packaged goods (CPGs) are poised to be “revolutionized” by blockchain technology. The report details various use cases such as payments and contracts maintenance, and warns that “Businesses that do not consider how blockchain could help are at risk of falling behind competitors.”
Intel Patent for Partitioning Approved
Source: US Patents
A patent filed by Intel in November 2016 has received approval. The patent is related to the partitioning of information in a distributed ledger system, using a “trusted environment” to address scaling and performance concerns. The proposal is a bit dense, meaning… we don’t know exactly how they plan to apply this practically. However, it’s unlikely to be anything game-changing as news on the patent has been relatively scarce.
Announcement: Bitcoin Core
Source: Bitcoin Core
Bitcoin Core, or “Satoshi’s true vision,” as they are taglined, has launched. Core is a fork of Bitcoin and an “upgrade of Bitcoin Clashic.” The announcement used Bitcoin Cash supporters’ tendency to play with name ambiguity as leverage to promote an actual Bitcoin Core, citing Roger Ver as a testimonial. Well played.
Pied Piper Coin Publishes One-Pager (and our editor is thrilled)
Source: Steemit
The Pied Piper, or, you know, this guy, and his partner “The Stallion” continued on their quest for fame-by-memeability by publishing the one-pager linked above on the Pied Piper Coin (PPI). It begins with a Tolkien reference, ends with a '#HailSatan,' and has little to say in between. (Is this a good time to mention that PPI is down to $0.53 as of the time of this writing? Because PPI is down to $0.53 as of the time of this writing.) Basically, they’re going to be forking sometime. Using some blockchain platform. And memes. With the ratio of spectacle to substance, they probably could have just called their product BillyMaysCoin and cut out the copyright-infringing middleman.
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Announcement: Steem Monsters Alpha Release
Source: Steemit
Steem Monsters, an RPG-esque trading card game built on the Steem blockchain, announced its alpha release to the public yesterday. Users can trade cards, gain abilities, level up, and enter tournaments for prizes. The current starter pack is priced at $5. Full details can be found in the source post linked above.
Announcement: SRecipes
Source: SRecipes
SRecipes, a “decentralized cooking platform” to be available on Steemit, will offer users the opportunity to earn rewards from the community in exchange for their recipe contributions, similar to the way content creation currently works on the platform. Read the full whitepaper at the source link above.
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