Block Network

October 5, 2020

No single blockchain can carry all of DeFi right now, MyEtherWallet founder says

Scaling solutions sometimes come at the cost of decentralization. Most of decentralized finance’s potential scaling options come at the cost of decentralization, according to Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet. “From a perspective of fully decentralized blockchains, there’s no blockchain that has a good enough scaling solution to support this many transactions,” Hemachandra told […]

Many yield farmers lost more than they bargained for when they trusted this DeFi dev

Some UniCats users saw their entire token balances drained due to a malicious contract. Yield farmers looking for a quick profit were recently taken in by a dubious DeFi protocol called UniCats — a yield farming scheme reminiscent of other, more famous protocols like SushiSwap or Yam Finance.According to ZenGo researcher Alex Manuskin, at least […]

Bank of Canada calls central bank digital currencies risky, especially storage

Is risk in the eye of the beholder? Canada’s central bank, the Bank of Canada, recently put out a report on the risks and benefits of a central bank digital currency. “An anonymous token-based central bank digital currency (CBDC) would pose particular security risks,” the Bank of Canada wrote in its Oct. 5 report. “These risks arise from how […]

Price analysis 10/5: BTC, ETH, XRP, BNB, BCH, DOT, LINK, CRO, LTC, ADA

Traders are attempting to kickstart a new trending move in Bitcoin and altcoins by attacking overhead resistance levels. A recent report by ARK Investment Management LLC presents a strongly bullish case for Bitcoin’s (BTC) future value. The group projects that Bitcoin’s network capitalization will rise to $1-$5 trillion over the next five to ten years. […]

Long and short positions, explained

Discover the intricacies of short and long positions in crypto trading. These principles can be applied by both new and experienced traders. How can margin trading amplify the targets of long and short positions?Margin trading can magnify the potential results of long and short positions thanks to leverage — i.e., borrowed funds.Going long or short […]

This country accepts more retail crypto transactions than anywhere else in Latin America

Venezuela may have the most crypto volume, but this country bests all of Latin America when it comes to retail crypto transactions. A recent study showed that Latin America represents 7% of the entire global cryptocurrency economy. Out of that segment, Mexico has captured almost 11% of all retail crypto payments since July 2019.El Economista cited research […]

Bloomberg: Bitcoin ‘has had a tendency of adding zeroes to its price’

Bitcoin may take twice as long to get to $100,000 than previously surmised. In its latest crypto newsletter, Bloomberg observes that Bitcoin (BTC) “has had a tendency of adding zeroes to its price,” noting that the asset previously went from $1,000 to $10,000 in less than four years. Maturation may have slowed this trend somewhat, […]

These China-based notaries are using the Blockchain to manage their client’s cases

They’ve been quietly handling thousands of cases for months now. 40 firms have used Shanghai’s blockchain-powered notary platform to handle over 3,000 cases since its launch in January.According to Jiemian, the “Hui Cun” platform (which is managed by Shanghai Xuhui Notary Public) is a blockchain-based electronic data storage protocol that exercises notarization functions. It stores […]

Fraudsters are switching from credit cards to Bitcoin, says consumer protection company

Scammers are taking advantage of one of Bitcoin’s strengths, as once lauded by Satoshi Nakamoto. Fraudsters are taking advantage of the irreversible nature of crypto transactions, says MyChargeBack’s vice president of global operations, Michael Cohen. When Bitcoin (BTC) was first envisioned, one of its selling points was the fact that it was offering better protection […]

SEC bring John McAfee to court over ICO promotion

The cybersecurity millionaire and former presidential candidate sees new additions to his legal woes. On Monday, the U.S. Securities and Exchange Commission filed suit against John McAfee for allegedly promoting initial coin offerings (ICOs) without disclosing that the ICO issuers were paying him, a violation of U.S. securities law.Per the complaint: “From at least November […]