EP.21 - 8-8-18 From Crypto the WonderDog This is Dean Kirkland with BlockBytes! The Top Headlines in Crypto and Blockchain News! Presented by DASH. Made for payments, DASH is the ultimate digital currency for both brick-and-mortar and online merchants.
Here are the TOP Headlines in Crypto and Blockchain News on Wednesday the 8th of August 2018
-Police in South Korea raided the office of an organization who promised investors a stake in valuables supposedly stored on a sunken Russian warship. 27 investigators from the Seoul Metropolitan Police Agency made a surprise visit to the Shinil Group in Yeouido and seven related locations this Tuesday. The firm had showed investors footage of what was marketed as wreckage of the Dmitrii Donskoi and a business partner of Shinil convinced investors to buy into the firms native coin called Shinil Gold Coin. Investors were told that the ship sank with 200 tons of gold worth roughly $134 billion and the value of Shinil Gold Coin was hinged to this value. Investors had been promised that the value of Shinil Gold Coin would go from $0.18 to $9 once the wreck and it’s treasure were reclaimed.
Hong Kong-based OKEx, the No. 2 cryptocurrency exchange based on trading volume, has announced a partner blockchain-fueled gaming exchange is now live. OKGaEx.com went live today. According to a statement: “OKGaEx provides gaming digital asset and derivatives trading services to over 220 million gamers around the world, building an eco-system for all blockchain gaming projects.” Bit.Game Co-Founder He Wei Feng was named as the chief executive officer of the new gaming platform. OKGaEx is currently running a fee rebate special.
According to a recent blog post, tech giant Microsoft recently integrated a proof-of-authority (PoA) algorithm on its Ethereum (ETH) blockchain product on its cloud platform Azure. The new algorithm will supposedly facilitate “more efficient” decentralized application (dApp) development where “all consensus participants are known and reputable.” The new PoA algorithm, which will supplant the current proof-of-work (PoW) consensus mechanism, does not require competition in completing the transactions, and - unlike its predecessor - is based on the principle of approved identities or validators on a blockchain. The new product on Azure features a number of security-focused development tools like an identity leasing system, Parity’s web-assembly support, Azure Monitor, and a Governance dApp.
Yesterday's unexpected correction has brought the cryptocurrency market capitalization to its lowest valuation for 2018. The US Securities and Exchange Commission (SEC) decision to postpone their decision on bitcoin ETF applications could have possibly been the catalyst that set off the most recent pullback. Currently, the total market capitalization of the cryptocurrency market is at $228.6 billion which is the lowest level seen since November 2017. Postponement of the BTC-ETF decision is thought to be the main catalyst behind the bitcoin correction, but the majority of altcoins are also touching new yearly lows and the increase in the bitcoin dominance rate it interpreted as being indicative of investors transition into bitcoin and possibly fiat currencies.
Lightning network, which started out small this year has picked up steam over the last couple of months. The total number of nodes has gone above 3,000, and along with it, the capacity has now reached 97 BTC (approx. $600,000). The total capacity shot up by 400% in July from 24 BTC to 97 BTC. However, the lightning network is still a long way away from mainstream adoption.
At 10 AM Pacific Time the Top 5 Cryptocurrencies By Market Capitalization
Price Graph (7d)
39,299,874,590 XRP *
906,245,118 EOS *
5 Biggest Gainers
Thank you for listening, From Crypto the WonderDog This is Dean Kirkland with BlockBytes. BlockBytes is presented by DASH. DASH digital currency continues to innovate cryptocurrency acceptance both online and at local retailers. DASH makes payments easy… have you DASH’ed lately?