Block Network

September 1, 2020

Shanghai’s Jing’an District issues blockchain-based discount coupons

Jing’an Culture and Tourism Bureau is issuing blockchain-based discount coupons using its WeChat mini-program. The Jing’an District of Shanghai has started offering blockchain-based discount coupons. Local news outlet Shine reported that the district will issue the coupons using one of WeChat’s mini-programs operated by the Jing’an Culture and Tourism Bureau. WeChat mini-programs are smaller sub-applications built within […]

Using a DeFi protocol now costs more than $50 as Ethereum fees skyrocket

The situation is eerily reminiscent of December 2017. Gas prices on Ethereum posted fresh all-time highs on Tuesday as making a transaction now requires bidding more than 450 gwei, according to EthGasStation. Fees reach as low as 2 gwei in calm periods and were previously considered high at 30 gwei.The gas price is a generalized […]

Huge Ethereum buy wall sends ETH to a 19-month high against Bitcoin

The price of Ether hits a 19-month high against Bitcoin as user activity on Ethereum spikes to multi-year highs. As the price of Ethereum’s Ether (ETH) surpassed $450, a huge buy wall on the major cryptocurrency exchange Bitfinex emerged. Shortly thereafter, ETH achieved $270, a 19-month high against Bitcoin (BTC).The price of Ether against the […]

Binance launches Ethereum-compatible blockchain to pursue DeFi

Binance wants to stay ahead of the DeFi trend. After teasing the upcoming blockchain in April, Binance has launched the mainnet of its Smart Chain — a smart contract-enabled blockchain running in parallel to Binance Chain.Binance Smart Chain comes with an Ethereum Virtual Machine-compatible environment, which allows Solidity developers to move into the new chain […]

Bitcoin is targeting $288K Stock-to-Flow price ‘like clockwork’ — PlanB

Another monthly close is exactly in line with stock-to-flow predictions, as Europe sees a return to negative inflation and the dollar wanes. Bitcoin (BTC) is heading to $288,000 and higher “like clockwork” as fiat currency woes mount and European inflation goes negative.In a tweet on Sept. 1, PlanB, creator of the stock-to-flow (S2F) family of […]

OneCoin: A deep dive into crypto’s most notorious Ponzi scheme

Following the latest ruling on the OneCoin class-action lawsuit, we look into the biggest Ponzi scheme in crypto. The latest ruling in the class-action lawsuit against OneCoin has dismissed Konstantin Ignatov, co-founder of OneCoin, as a defendant after he agreed to testify against his sister. Ignatov is the brother of Ruja Ignatova, the infamous leader […]

Jerome Powell throws US dollar under a bus in Jackson Hole

Fed Chairman Jerome Powell threw the U.S. dollar under a bus last week at the central bank’s annual Jackson Hole, Wyoming, meeting. The Economic Policy Symposium hosted annually by the Federal Reserve Bank of Kansas City — an event attended by finance ministers, central bank managers and academics, among others — was held virtually due […]

Three of Australia’s “big four” banks bring bank guarantees on blockchain

Blockchain tech could purportedly reduce the timeline of bank guarantees processes by days. Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology. Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider that […]

Hacker behind 1,400 BTC Electrum wallet theft transacted on Binance

The hacker’s identity may not be a mystery for much longer. On Aug. 30, a Github user made a post about losing 1,400 Bitcoin (BTC) via an elaborate hack that affected his Electrum wallet. N-chain analysis indicates that the hackers had a Binance account and that some of the transactions used to move the stolen […]

Class action lawsuit targeting Tezos ends in $25M settlement after 3 years

After three long years, the class-action lawsuit alleging that Tezos violated securities laws through its 2017 ICO has concluded. The three-year-long class-action lawsuit targeting Tezos (XTZ) has come to a conclusion after Judge Seeborg approved Tezos’ $25 million settlement on Aug. 28.According to the judgment, the funds will be distributed among “all persons and entities” […]