Tag Archives: Blockchain News

While major economies across the globe are pushing for blockchain adoption, Asia’s third-largest economy India is having similar plans. As per the latest report from India Times, the government of India is working on a national blockchain strategy.On Wednesday, November 27, the publication reported that India’s Ministry of Electronics and Information Technology (MeitY) is considering the application of blockchain technology across multiple sectors like banking, governance, finance,...

Now it what may be a breakthrough for the Ethereum blockchain a blockchain advisory and product development firm Akomba Labs has offered a solution that allows the creation of blocks on the Ethereum blockchain twice as fast as before. Sources indicate that Akomba Labs in collaboration with BloXroute ran “BloXroute’s” Blockchain Distribution Network” on a Singaporean-based Ethereum node between November 11th and November 27th. The results showed that the blockchain propagation time dropped...

Popular stock-trading startup Robinhood has decided that it is no longer interested in becoming a federally insured bank. Months ago, the company applied for a bank charter with the Office of the Comptroller of the Currency (OCC), in an effort to become a fully-fledged bank but has now decided to shelve said plans.According to the statement, the company has taken this step to shift its attention away from banking to its own core business directed at improving the efficiency of the financial...

Banking app Revolut has introduced a new feature that will allow many users to use the app just like any other bank account. The introduction of the direct debit feature for the UK pound has enabled users to be able to pay for goods and services with direct debit as it is becoming the norm for many businesses at the moment. Already Euro direct debit services were started last year. Many businesses prefer direct debits as card transaction fees and chargebacks are usually more problems than...

With the current expansion of and new entrants into the crypto space, ex-UBS employee Claude Waelchli has decided of a lifetime: to pitch his tent (and his life as well) with cryptocurrencies. After leading the Global team for the management of portfolios for ultra-high net worth individuals and institutions, Waelchi has decided to settle for nothing less than the best as he studied digital assets and to launch his own startup Tokenyz. The new cryptocurrency startup’s name is a play on the...

The recent Upbit hack crashed all the cryptos down and again reminded crypto investors how vulnerable this sector is. However, this was the last among seven majors hacks that happened this year. So, let’s mention some of them:CryptopiaAround January 15, New Zealand-based cryptocurrency exchange Cryptopia said there was $3.2 million in tokens stolen and the company went into the liquidation. However, on Jan. 20, it was reported that as much as $16 million worth of Ethereum (ETH) and ERC20...

Matic Network, the platform working on solutions to the scalability issues of the Ethereum blockchain and using Plasma side chains and a Proof-of-Stake network, has announced its public incentivized staking testnet event Counter Stake is finally live.Counter Stake has arrived!Matic’s public incentivized staking testnet event is now officially live.We have released a detailed step-by-step guide on setting up your node. Over 3 million $MATIC tokens are to be shared among participants ?Read...

Various factors are known to limit the public adoption of cryptocurrency especially Bitcoin. For now, one cannot spend Bitcoin the same way they would spend fiat currencies. Sometimes converting crypto into fiat can be quite a challenge. Custodianship of crypto assets and wallet security are the other concerns for the average investors.Also, wallet and key security together with the undeveloped crypto ecosystem and economic precedent discourage institutional investors from joining the nascent...

Earlier today, news of a possible hack on one of South Korea’s biggest cryptocurrency exchange platforms Upbit made the rounds. Reports had it that the exchange’s customers were confused because they noticed quite a few irregularities with their accounts including the inability to transfer funds. In a recent publication, Upbit has now confirmed that a large and unauthorized amount of funds was moved to an unknown wallet.It’s also worth mentioning that this news has negatively influenced the...

Ripple Labs’ XRP token seems to have again come under scrutiny as popular crypto influencer and crypto investor BitLord went after the cryptocurrency token in a tweet describing it as a security. That’s an allegation which Ripple Labs has gone to great lengths to deny and also to put at bay due to the serious nature of the repercussions of such. This comes after sources indicated that Ripple completed its investment commitment in Moneygram as it now holds about 10% of the common stock of the...