Bitcoin after breaking the $8,000 price resistance saw another price correction which brought down its prices by 4 percent, however, the price dip was short lived as the crypto market made another considerable gain over the weekend adding $25 billion to the overall market cap. The overall market cap also peaked to a new high of $272 billion.
Bitcoin which faced a mild resistance at $8,000 has broken past it and currently trading at around $8,700 seeing an 8.7 percent jump in prices on the 24-hour price chart.
Apart from Bitcoin, the major altcoin is in the green as well, where a few of them have also made double-digit gains with Litecoin being the flag-bearer seeing an 11% rise in prices over the past 24-hours. Litecoin was trading at $112.90 at the time of writing. Litecoin is extremely bullish with the impending halving of the block reward set to take place in August.
Bitcoin Cash, another altcoin which has seen a significant surge in prices throughout 2019 was right behind Litecoin with a 9 percent pump on the 24-hour price chart. It is currently trading at around $437 price bracket.
EOS also saw a price jump of around 9.34% taking its trading price to around $6.92 at the time of writing. Tron made a huge 17 percent jump on the 24-hour price chart, taking its trading price to $0.03. Bitcoin SV which has seen its price see a massive jump last week also made 17 percent gains on the day with the trading price of around $107.
Bitcoin Eyeing $9,000
The recent price rally was again spearheaded by Bitcoin, which saw its prices reach $8,850 and in case of few exchanges the prices were as high as $8,900. The new high that Bitcoin hit was also its highest price since May 2018. This has prompted many analysts to predict further gains for the Bitcoin and touching $9k does not look a big ask.
Josh Rager a crypto trader by profession is quite bullish on the prices and believes Bitcoin would make further gains. He said,
“Goodbye meme triangle, hello $9k+ targets. Some people were screaming triple top when the more obvious conclusion is retest after retest of resistance will finally lead to a break to the upside. Bitcoin could cool off, run sideways but IMO will continue to move up over $9k”
Indian Mobile Carrier service providers Vodafone-Idea and Jio have decided to deploy blockchain technology in partnership with Tanla Solutions and Tech Mahindra respectively. The step is set to impact almost a billion users of the two service providers and give a big respite to the consumers against spam calls and messages.
The deployment of the tech is in line with the Telecom Regulatory Authority of India’s (Trai) regulations, and the deployments would begin by this month end. Consumers can send their preferences against the spam calls and messages to their respective service providers, and unlike before where even hundreds of requests did not really fetch any fruitful result, the use of blockchain is set to change that.
Vodafone and Idea which has merged into one company boasts of a user base of around 395 million while Jio has around 307 million users. Another major carrier Bharti Airtel with 325 million userbases has already applied for a similar tech deployment in association with IBM.
Vodafone-Idea has inked a multi-year deal with Tanla Solutions for the deployment of the technology who will also be responsible for the sandbox regulatory program along with the production platform. A company spokesperson said that the firm is focused on using the latest modern day technology to make lives easier for its users.
A Tania spokesperson commented on the recent partnership and the role of Tania solution. He said,
“Deployment is underway and will help in arresting spam and fraud-related commercial communications for Vodafone Idea subscribers “
Tania would also be helping Airtel in the deployment of the network, however, IBM would play the major role in the deployment process, being the primary vendor in the partnership.
Jio has partnered with Tech Mahindra for the deployment of the blockchain tech, however, neither firm confirmed or commented on the use of the tech.
Once the deployment is complete, it would become the largest use case of blockchain in the telecom sector with around a billion users. The next step for these telecom giants could be the use of tech for mobile number portability interconnect settlements, supply chain streamlining and content partner settlements among others.
A new crypto scam has been found offering free BTC. It is being advertised on scam websites offering Ethereum for free. The guy who found this crypto scam is an independent security researcher that goes with the name as Frost on Twitter.
According to the reports, the scam offers free BTC worth of $5 to 30 every day, only by running a so-called program known as Bitcoin Collector, but actually, when it’s clicked, it will install some ransomware or password-stealing Trojans to your device.
The Bitcoin Collector program can be seen being advertised on scam websites that offer 3 ETH to those who refer 1,000 new visitors successfully, like ethmoney.club.
Clicking on the above ‘Earn $15-$45/day in BTC for FREE and automatically’ ads will bring the visitors to the other page containing a link to download the Bitcoin Collector program, that also offers a VirusTotal link, perhaps to show the link’s security for enhancing its reliability to convince the prospect victims even more.
TL;DR, it will download a Trojan-containing file, that will infect your system upon instalment and automatically launch a malware payload.
The payload, in an earlier version, was, in reality, HiddenTear ransomware named “Marozka Tear Ransomware,” that showed the message when it runs.
As indicated by the BleepingComputer team, the latter version of the ransomware is more harmful as the Trojan contained inside is very much capable of stealing login details of the visited sites, retrieve browser history, take screenshots, steal files from the invected system, and even steal crypto wallets.
‘Mind What You Click’ is still and perhaps will always be the best advice to all the cryptocurrency investors out there, particularly, when the cryptocurrency market is pumping hard, as of now.
It’s been five months for us in 2019, but we can dependably see how blockchain patterns will impact the space throughout the following year.
Many individuals are resistant to an innovative change in both healthcare and banking in their daily life but in the workplace as well. Even so, what is yet to be seen is the vision of perceiving how the innovation which they are opposing will influence their lives for definite in the future.
As Hackernoon reported –
“Developing innovations are energising and bring development and new open doors over the globe. They transform ourselves by adjusting the manner in which we think and work regularly.”
The technological advancement can easily affect a lot more than our daily lives. Advancements in tech can have an impact on industries entirely and change how we work together.
The innovation of blockchain can knock on to a few of the issues facing the financial industry today with great potential.
Banks store cash for their clients’ welfare, and they additionally handle the entire exchange of that cash.
Blockchain has an intrinsically safe framework that would give permanent records of the significant number of exchanges that happen in the financial businesses every day. The record framework may limit the hazard by providing secure records.
Things in the healthcare industry have been quite hectic in regards to putting away and sharing the information and patient records.
There is a higher chance for mistakes to be made among human services suppliers and customers.
Blockchain innovation can patch up the trust by putting medical records away that can be correctly and privately ‘exchanged to and gotten to by the specialists and individuals who are approved.’
“Blockchain will help in the approval and recognisable proof of individuals. Truth be told, one startup called Ontology is as of now attempting to make positive, multi-source distinguishing proof a reality over all enterprises utilising the blockchain innovation.”
CEO Changpeng ‘CZ’ Zhao quickly took to Twitter post the event, claiming that things were under control. Despite such a major hack, he pacified customers by saying that all the BTC that had been lost would be replenished from their reserve of Bitcoin, which has been evaluated at $2 billion.
“Thanks for the support, really appreciate it. But currently no need. We will cover the loss from the #SAFU [safe asset funds] fund, there is enough. We are hurt, but not broke.”
The big news is that Binance is in a comfortable position to offer all their customers a full refund. The reserve account that they have for BTC, possesses more than enough to supplement the depleted resources.
Additionally, other crypto heavyweights have publicly offered to help out Binance. One such example is that of Tron’s Justin Sun, offering to store the comparable assets to cover the misfortunes.
Thus the exchange has assured that although a security breach did take place, no one is the worse for it.
A large section of the African adult population is still unbanked, and that continues to be a growing concern in the region. However, the future looks hopeful due to the existence of technology.
The CEO and founder of Imani-Heidi Metz, has committed to helping out the banking sector in Africa. She has offered to help out the population by creating a blockchain-dependent, low-cost mobile banking stage where consumers can store fiat as well as digital currency easily.
The issue of people without banking services exists on a large scale. According to Global Findex data, more than one point seven billion (1.7 B) people across the globe have no access to banks or mobile banking practices. A technology like this could really turn it around for Africa.
Heidi has mentioned that her agenda behind the creation of this technology is to introduce this disruptive technology in the West African states. With her firm’s blockchain-based mobile wallet and payment system, she could create an environment of that would be conducive to the growth of various digital currencies.
With the services that Heidi is looking to offer the people, they would essentially possess a safe storage and transfer mechanism for their fiat and cryptocurrencies. A technology like this greatly increases the safety of the money that these people are earning and storing.
The situation in Africa is dismal in terms of financial security for those, who do not have access to bank services. Paydays in African states can be risky for those who face the possibility of being mugged on their way home. A technology like this could thus ensure that people’s hard earned money is safe in a bank storage, rather than lying unprotected and vulnerable in their homes.
More such social impact projects could and should be undertaken by various companies, to contribute positively to the society.
According to Bobby Dresser, the product manager at MetaMask, it has reached 264,000 active monthly users. MetaMask is ethereum’s main way of connecting with dapps. Apparently close to 1.5 million transactions were conducted through Metamask last month, with one million transactions made on mainnet and the rest on testnet. It has been noticed that most of these transactions are for dapps, of which only 24% initiated by users themselves while 76% were initiated by dapps.
The top dApp when it comes to both on the Mainnet and the Test net is Remix, which as you may already be aware is a kind of a compiler which can connect to Metamask. Remix enables users to publish code on a blockchain, once the user is done writing it, and then subsequently performing a few final steps on Remix. Next on the list is the 0xUniverse which is neither an exchange or a protocol. Instead it’s a “next generation blockchain game where players can build spaceships, explore the galaxy, and colonize planets.”
Axie Infinity, which follows then oxUniverse on the list, is also a game about collecting and raising fantasy creatures called Axie and so is Cryptokitties. The only exchange that makes it to top five is Fork Delta. However, Dresser says
“on Mainnet alone, there are over 25 different dapps with over 5k transactions in April, and we see new applications appear in our weekly charts all the time.”
Reports say 90,000 are using Metamask every week, seeing 1.1% growth week on week, based on their definition of an active user as “someone who interacts with MetaMask in any way — by opening the extension to check their balance, by sharing their address with a dapp, by switching their active account, etc.”
The average active user interacts with Metamask five times per week, totalling 320,000 visits a week. But, just 30% of active users confirm an on-chain transaction. Most just used it as a way to connect with dapps, while some use it as a wallet.
Alibaba, the Chinese ecommerce giant, recently announced that they have plans to revise the security of their Intellectual Property Protection system for global enterprises and brands. According to reports published by local news outlet Sohu on May 23, 2019 the revision includes the integration of blockchain technology. Even though cryptocurrencies are still struggling to make it into the mainstream in China, the country and its innovators are eagerly exploring blockchain technology.
As has been reported earlier as well, Alibaba, which has already been involved in DLT innovations and they very recenlty announced this new venture. As per the report, Ali Xizhi. Alibaba’s Intellectual Property Protection director said that the company was also deliberating about the technology to upgrade the filing of intellectual property rights. If all things go as expected, implememntation of this new tech could be underway by September 2019, leading them to further integrate blockchain with digital copyright protection, too.
The Ali IPP Platform will be directly linked to electronic deposits from international brands to the Internet courts and will provide a basis for litigation rights protection. The platform is especially inclined to serve “tens of millions” of small and medium-sized enterprises and brands.
A report released in September 2018 cited that the e-commerce giant was behinf the most number of the total blockchain related patents filed. At press time, Alibaba had more than 90 patent applications on blockchain-based technologies. The company accounted for 47 such licenses in 2017, while other major Chinese companies filed approximately 56 percent of the total blockchain patents that year.
In March 2019, Alibaba’s financial arm Ant Financial Services also launched two of its blockchain subsidiaries dubbed Ant Blockchain Technology and Ant Double Chain Technology. Of the two, the first was reported to be focused on software development, whereas the latter aimed at innovating the supply chain management system and financial information services.
Alibaba also successfully piloted the tracking of rice produced in the Wuchang district of China with the use of blockchain to help the people and the government recognize counterfeit products.
Debates around the advantages of Bitcoin or cryptocurrency are heard everywhere, coupled with largely positive sentiment surrounding the underlying blockchain technology.
Heavyweights from various industries have given their public opinions about Bitcoin and it’s potential for mainstaem acceptance. Adding to the list is general manager of Bank for International Settlements, Agustin Cartens, who sees
e interesting… the main issue I take with cryptocurrencies is the term currencies. And i think they are not currencies, they are not good store of value, they are not good medium of exchange, they are not good unit of account.”
However, Cartens does concede that the attempt “to have them come into life as a way to substitute legal tenders and fiat currency is a failed attempt.” He additionally provides concrete evidence in the form of historical facts, supporting his argument in the context stated above. He states that there have been quite a few attempts to substitute fiat currencies, but all of them have failed. He further added:
“.. they have a role as crypto assets.. they have a room for financial assets in general but not cash”
On the other hand, he was all praises about the underlying technology behind crypto, blockchain technology. He claimed to be aware of the power and potential of blockchain technology and how it could very well be used in settlement systems.
He advocated extensive exploration of the technology and encouraged wider acceptance for it. He concluded his argument by stating:
“Blockchain by itself is not sufficient to think of a different monetary arrangement in a country.”
WeatherSV, which is an Australian experimental weather project designed to serve Queensland’s farming community, is helping farmers to access essential data through the Bitcoin BSV blockchain.
This has been created by IT professional Paul Chiari, a strong advocate of using agricultural technology in order to support his local community, in the case farmers. WeatherSV was the product of his experimentation with data distribution and storage on the blockchain.
Chiari has found BSV blockchain as an ideal medium for storing date fed back through IoT devices located on surrounding farms, enabling him to utilise this data along with weather information collected from 40,000 weather stations around the world.
Users, thus will now be able to add their nearest weather station to access the output of the network and stored data by paying an equivalent of AUD 5 in BSV, using Moneybutton. Various channels have now been opened and are growing all the time, recently including membership in Guinea and China.
Chairi was astounded at how quickly his project grew and now sees 50,000 transactions a day as quite possible with 12,000 at present:
“We just did this as a hobby project… We did it for a bit of a laugh. The heavy lifting is being done and doing this stuff and learning as you go and experiment with it, it’s fantastic… The heavy lifting is being done, and you’ve just got to jump on board and have a go.”
However, with Binance and Shapeshift dumping Bitcoin Satoshi Vision (Bitcoin SV) and then Kraken following suit, things don’t look too promising for the controversial crypto moving forward since Bitcoin SV forked from Bitcoin Cash in November of last year its been on a downward spiral. Although the network is operating, it is diminutive by comparison to Bitcoin, with 500 nodes compared to Bitcoin’s 9,000 plus. Its centralised hashpower is also of some concern as roughly 60% of BSV’s hash rate is by Craig Wright-supported CoinGeek and nChain.