World Archives - 21000NEWS

Luka GlogoskiMay 22, 2018

2min136

The largest South Korean exchange UPBit passed the government inspection with flying colors.


 

Last weeks rumors began circulating around the internet that UPBit was suspected of sharing/ pooling liquidity with other exchanges, which prompted swift action from South Korean Financial Supervisory Service (FSS), Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC).

It turns out it was all a case of much ado about nothing, as the investigators confirmed that UPBit’s balance sheet was as healthy as a fiddle. The audit by Yoojin, a major accounting firm in South Korea, was completed on 15th May and confirmed that the funds recorded on UPbit’s balance sheet perfectly matched the actual holdings of the company.

Audit

MoneyToday reported that “since early 2018, UPbit created snapshots of its multi-signature wallets and funds stored within them for auditing purposes. Yoojin accounting firm, a major accounting firm based in Seoul, confirmed that all of the funds on the UPbit platform match the cryptocurrency holdings of UPbit stored in its multi-signature wallets”.

The confusion stemmed from the fact that UPbit lists over 130 cryptocurrencies on their platform, however only 90 of them can be directly withdraw and deposited. The other 40 don’t have native wallets and must be converted to either Bitcoin or Ethereum.

Despite the successful audit, the event caused considerable FUD in the South Korean crypto markets and has damaged the reputation of the local crypto exchanges.

Ever since the Mt. Gox debacle, crypto markets have been very nervous and fearful of another major exchange scandal, therefore unnecessary FUD like this needs to be avoided in the future. Hopefully government officials will realize this sooner rather than later.


Gabrijel ŠerjakMay 22, 2018

7min171

Several tokens are on the watchlist these days because of launching their own blockchain which will have an impact on market price and overall growth of the project.

OysterMay 29, 2018:  

The hybrid blockchain, being built on IOTA’s Tangle technology and Ethereum’s smart contract framework, will see daylight on May 29, 2018. After the launch, the Oyster Pearl platform can be used for what it’s built for: disrupting the online advertisement model and directly connecting content creators with content consumers.

TRON, May 31, 2018: 

Tron has recently been in the spotlight a lot—and the launch of their much-anticipated platform will show whether Tron can live up to the high expectations surrounding the project. To boost enthusiasm even higher and as a sign of appreciation to the Ethereum community, Tron distributed 30 million tokens through an airdrop on April 21. This airdrop occurred because the Tron token will move from the Ethereum blockchain on to its own mainnet, a migration that’s being supported by most major exchanges.

What will change? With owning the new tokens: token holders will have voting rights and elect Super Delegates to secure the network.

NULS May 2018:

Nuls could very well be a sleeping giant and has remained mostly under the radar for now. This could all change with the release of their mainnet. The NULS team has set out to deliver a customizable modular blockchain ecosystem that allows for smart contracts, multi-chain mechanisms, and cross chain consensus. This basically means that it will become a platform that allows for dapps and cross-blockchain transactions.

 

EOS, June 2, 2018:

EOS is another blockbuster blockchain to launch its mainnet. Expectations are incredibly high, indicated by the market valuation of EOS being over $15 billion(!). Over the last couple of weeks, the price of EOS has exploded following several new exchange listings, a focus on inter-blockchain communication, a VC partnership announcement and the fact that already 18 dapps are planning to launch on the EOS blockchain.

EOS will be needed to buy into the ICOs of the dapps—these dapps and their users will also start using EOS to convert other tokens and for transactions on the blockchain, creating a genuine demand for the cryptocurrency.

EOS will be the next highly impressive blockchain launch by industry veteran Dan Larimer, who also launched Bitshares and Steemit.

The release of the Eos io distributed operating system will follow the mainnet launch. A vote for block producers will follow soon afterward.

What will change? EOS tokens will have voting rights. Also, the development of distributed apps is expected.

 

Ontology, June 2018: 

Ever since Ontology distributed its token through airdrops, the project’s cryptocurrency price has been on an absolute tear. Even though the exact date of launch is still a mystery, the highly promising roadmap of the Ontology project indicates that the launch will occur in Q2, of which June is the last month.

Recently, Ontology launched a code pre-release of its main network. So far, no details have been given on how the balances will be credited.

 

What is known is that current ONT holders will double their balance when the mainnet launch finally arrives.

 

VeChain, June 30, 2018: 

The launch of the VeChain Thor mainnet might turn out to be the biggest one of this list. This is because of the potential applications that will be introduced to the public with the launch of their mainnet.

VeChain has an incredible network of partners and the VeChain team has indicated multiple times that they want to start rolling out dapps on their platform for these partners as soon as possible. Seeing dapps being launched with the mainnet is even more likely given the fact that the VeChain platform has already been functioning privately since 2015.

On May 1, the VeChain blockchain was launched for testing and the team has been continuously updating the community about the progress of the mainnet as well as the new features and dynamics of their platform. The launch also entails a new name for the token, from the ERC-20 based VEN to the VeChain Thor based VET. We’ll most likely see VEN becoming VET on June 30.

What will change? VeChain holders will see their assets multiply, receiving 100 new assets for each VEN old token. This is for the purposes of more intuitive accounting.

 

 

 

 

 

 

 


Luka GlogoskiMay 21, 2018

2min139

The most (in)famous stablecoin Tether is back in the spotlight, after it issued a fresh $250 million sized batch of its US dollar tethered crypto currency last Friday, 18th May 2018.


 

Tether has been the bad boy of crypto ever since they broke up with their auditing firm Friedman LLP following an unsuccessful audit attempt. Ever since then, speculation has been rife, whether their USDT token is in fact backed by USD on a 1:1 ratio or whether they are perhaps operating more of a fractional reserve type service.

As has been the case recently both Bitcoin and Ether rose in value immediately following the issuance of new Tethers. The rise has been modest though with Bitcoin only gaining about $120 and Ether increasing by just $10 within the 1st hour.

250M Tether Issued on May 18th

Tether has done a better job than most other stablecoins as it has in fact remained impressively stable, unlike TrueUSD, which rose to $1.36 last week following strong demand, then crashed back to 1.01 within 24 hours, leaving many traders mighty unimpressed and of course significantly out of pocket.

Also having Bitfinex, one of the world’s largest crypto exchanges, behind it does help Tether’s credibility as they could fairly easily provide $2.5 billion of liquidity if push came to shove.

As the landscape for stablecoins develops, we will see new players enter the fray, such as Goldman Sachs backed Circle stablecoin, and competition will do what it always does and produce a worthy winner. Until then, enjoy the show and trade smart!


Luka GlogoskiMay 18, 2018

2min216

Yet another #redday is upon us as crypto market continues to defy the bulls despite many bullish announcements and events.


 

In just three days, the crypto market has shed a whooping $42 billion off of its market cap. This is despite traditionally bullish news and events such as Consensus 2018 and a barrage of announcements from major Wall Street firms such as JPMorgan, New York Stock Exchange, Morgan Stanley and Goldman Sachs about getting ready to enter crypto trading.

This is a break from what we’re used to seeing in the crypto markets and is perplexing many commentators of this sector. But in fairness it’s perhaps not that unexpected given how fast the market rose from $250 billion to $450 billion in the month of April and early May. Since then we haven’t really seen a proper correction yet, especially among many altcoins, many of which more than doubled in value during this time. It’s also a classic case of buy the rumor sell the news when it comes to the Consensus conference. Last year was the exception not the rule.

Looking at the Bitcoin dominance chart, it’s obvious that the Altcoin correction is well underway, while Bitcoin is struggling to take off and it’s instead Ethereum that is growing its market share.

Bitcoin Dominance Chart 2018-05-18

There seems to be renewed interest in ICOs with risk taking returning to the markets, but chasing the highest possible returns in new project as opposed to going into the established players. Why chase double digit percentage returns, when there are potential 1000x returns just one ICO away?


Luka GlogoskiMay 17, 2018

2min53

China’s Ministry of Industry and Information Technology surprised everyone by releasing a ranking table of various blockchain projects and ranking Ethereum at the top, while giving Bitcoin a disappointing (and unlucky) 13th place.


 

The top five blockchain projects listed were Ethereum, Steem, Lisk, NEO, and Komodo, which apart from Steem are all essentially smart contract platforms that can be used or building DApps. The criteria used for the ranking were allegedly technology, application, and innovation.

China-Crypto-Ranking-Table

If Chinese is not your thing, here’s an English translation from Twitter:

Somewhat surprisingly Monero made the list at number 9, despite many governments expressing their concerns towards privacy based cryptocurrencies like Monero and Zcash.

Bitcoin at #13?

But the big news is that the original and the number one cryptocurrency by market cap Bitcoin, was co-ranked with Verge of all cryptos at No. 13! How can this be, given that Bitcoin is by far the most secure crypto coin with the longest track record and the biggest and most active community of supporters and developers?

So far we can only guess, but the fact that privacy coins even made the list is just as surprising. It does hint at some effort at objectivity from the China Center for Information Industry Development (CIID), an institute that works closely with the government to advise on policy making in technology, which developed the rankings.

Ignoring the Bitcoin’s ranking it’s hard to argue with many other choices and hopefully this means that the Chinese government will consider a more open and friendly approach towards crypto in the future.


Luka GlogoskiMay 17, 2018

5min130

The new SEC’s fake ICO website is aimed at crypto newbies in order to teach them what a legitimate ICO website shouldn’t look like.


 

The SEC setup the bogus ICO website HoweyCoins.com, complete with a fake White Paper, as an educational tool to alert investors to possible fraud involving digital assets like crypto-currencies and initial coin offerings.

Howeycoins.com

Once the would-be investor clicks on the About link at the bottom of the page, they are sent to the investor.gov page which greets them with the stark revelation that:

If You Responded To An Investment Offer Like This, You Could Have Been Scammed – HoweyCoins Are Completely Fake!

Further down the page they go into more detail behind the reasons for setting up the website and list a number of RED FLAGS such as:

  • CLAIMS OF HIGH, GUARANTEED RETURNS,
  • CELEBRITY ENDORSMENTS,
  • CLAIMS OF “SEC-COMPLIANT”,
  • INVESTING WITH A CREDIT CARD,
  • PUMP AND DUMP SCAMS,

which should alert potential investors of high probability of fraudulent actors being behind the website.

Every investment carries a certain level of risk, including registered securities (which is the main reason why they are regulated in the first place), so offering guaranteed returns is a dead certain scam giveaway, which everyone should be aware of at this stage.

“The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud. Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. I encourage investors to do their diligence and ask questions.”  SEC Chairman Jay Clayton explained in a press release.

Howeycoins.com Team

It’s probably safe to say that the SEC hasn’t been particularly crypto friendly as of late, however we see this as a positive move to help educate the masses on the difference between a legitimate and a fake ICO website. There are definitely both types out there.

Owen Donley, SEC Chief Counsel, explained how scammers

“can quickly build an attractive website and load it up with convoluted jargon to lure investors into a phony deal. But fraudulent sites also often have red flags that can be dead giveaways if you know what to look for.”

Why Howeycoins?

The SEC have shown that they do posses some degree of humor, as the fake coin’s name references the famous Howey Test, which was created by the Supreme Court for determining whether certain transactions qualify as “investment contracts.” If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements.

DYOR

Here at 2100news we do our best to vet any ICO project that we promote or list, however it’s very important that you always do your own research. If something sounds too good to be true it virtually always is. Just remember bitconnect and all the promoters who were pushing it all over YouTube. The real actors stayed well hidden and in the end ran away with millions. It’s been 4 months since the shutdown and we still don’t know who they are or if the investors will ever see their money again.

Crypto is getting complicated, so it’s more important than ever to stay well informed. Be sure to subscribe to our social media channels (all links at the bottom of this page) to stay ahead of the pack.


Luka GlogoskiMay 15, 2018

2min136

Beginning on 4th June 2018, the CME Group will be listing real time Ethereum price, officially referred to as the “Ether-Dollar Reference Rate”.


 

CME is well known in the crypto markets for being only the second mainstream exchange to list Bitcoin futures, which effectively ended Bitcoin’s crazy bull run at the end of December 2017.

According to Tim McCourt, Global Head of Equity Products and Alternative Investments at CME Group, the Ethereum Reference Rate and Real Time Index, are designed to provide price transparency and a credible price reference source in order to further the development of Ethereum.

The listing of Ethereum reference price by the CME Group is a result of cooperation with Crypto Facilities, which is a crypto trading platform based in London. The price will be based on data from Kraken and Bitstamp, two of the largest and oldest crypto exchanges in the market.

“Ether, the second largest cryptocurrency, experienced incredible adoption and growth in 2017, evolving into the leading blockchain for smart contracts. We are excited to be contributing to the strong community that has developed around the Ethereum network by providing a reliable reference rate and real-time Ether-Dollar price.” – CEO of Crypto Facilities, Timo Schalaefer.

Crypto Facilities is a well respected financial trading platform with its own virtual currency exchange and has been providing cryptocurrency price information to many large financial institutions around the world.


Gabrijel ŠerjakMay 14, 2018

3min184

America’s National Security Agency (NSA) has been officially asked a very complex question if they are responsible for the creation of Bitcoin.

This is a response by NSA to an unidentified individual who asked them:

“For any and all records pertaining to NSA’s involvement in Bitcoin, either as a consultant, or pertaining to the research teams involved in its creation.”

 

NSA relies on an exception stated in Executive Order 13526 signed by then President Obama in December 2009 and conveniently classified the matter.

No one can say for sure whether they did or didn’t create Bitcoin because we don’t know who did invent it, so it can be anyone.

SHA-256 (is a set of cryptographic hash functions used in Bitcoin) is designed by the NSA – do they have a backdoor?

SHA-2 is an open algorithm and it uses as its constants the sequential prime cube roots as a form of “nothing up my sleeve numbers”. For someone to find a weakness or backdoor in SHA would be the equivalent of the Nobel prize in cryptography. Everyone who is anyone in the cryptography community has looked at SHA-2. Not just everyone with a higher degree in mathematics, computer science, or cryptography in the last 20 years but foreign intelligence agencies and major financial institutions. Nobody has found a flaw, not even a theoretical one (a faster than brute force solution which requires so much energy/time as to have no real-world value).

To believe the NSA has broken SHA-2 would be to believe that the NSA found something the entire rest of the world combined hasn’t found for twenty years. Also, NIST still considers SHA-2 secure and prohibits the use of any other hashing algorithm (to include SHA-3 so far) in classified networks. So that would mean the NSA is keeping a flaw/exploit from NIST compromising US national security.

 

Roberto Escobars comment on CIAs invovlment in Bicoin:

Roberto Escobar: There is no backdoor. I never said that. Read my book. The CIA owns $10 billion worth of Bitcoin. Easy. They will sell their coins, crash the market, whenever they feel like it. American government has done this type of game many many times. People will see. They are wrong for investing in this worthless government coin by CIA. They will all lose everything. Soon.

 


Gabrijel ŠerjakMay 12, 2018

2min145

Eventums public token sale was canceled Because of overwhelming interest in their private sale. That means no public ICO, the project will be backed by strategic private investors with long-term interest that will support Eventum’s growth and bring additional added value (partnerships, entry points to specific industries, advisory …) to the project.

Their words:

We believe that the blockchain space is slowly moving towards a more traditional startup-like approach where the product, growth and traction is what matters (and not thousands of dollars spent on over-priced crypto ad networks — money we would rather spend on development) and even though Eventum is part of the new decentralized paradigm with a different approach to classic companies, we believe this is the right way forward and that we are part of the new 2.0 blockchain revolution.

If you didn’t get the chance to participate in the private sale, there is now a chance to earn some EVT true events on the alpha network.
They will be running 2–3 events per week for the foreseeable future and they’ve increased the “Ecosystem Fund” to fuel these events from 10% to 20% of the total token supply (i.e. 100,000,000 EVT tokens) equal to 7416 ETH worth over $5M.

All you have to do is sign up on Eventum Alpha and join upcoming events. Usually, it will only take few seconds of your time, and you can earn considerable amounts of ETH and EVT multiple times per week.

After June 12th all tokens will be released from the smart contract to private buyers, Eventum Alpha, and bounty participants, in the following 48 hours.

This is yet another example that ICO space is evolving and maturing getting closer to a startup model of raising and disturbing funds.
There is no doubt that ICOs will become a new key method for companies to raise funding.


Luka GlogoskiMay 11, 2018

4min101

Mt. Gox ghosts are stirring up trouble again as 8,200BTC leave their wallet.


 

You probably got a bit of a shock his morning during your daily coinmarketcap.com refresh with red color all over the front page. It turns out that the Mt. Gox trustee, who was tasked with selling about 200,000 bitcoin after the bankruptcy of the now-defunct cryptocurrency exchange, is suspected to have unloaded another 8,200 bitcoin onto the cryptocurrency market.

Mt. Gox Wallets

If we ignore some of the nonsense FUD spread by Warren Buffett, Charlie Munger and Bill Gates on CNBC recently, the news has been mostly bullish in the last few days, so this market drop has undoubtedly caught many by surprise.

The market seemed to be gearing up for major institutional players to enter the cryptocurrency space, which should have encouraged the bulls to get in ahead of Wall Street.

“I’m actually a bit shocked that the market did not pick up on this. Dominic Chu of CNBC said that investors will get physical delivery of bitcoin. That doesn’t sound that interesting except for the fact that it means ICE Exchange has a custody solution. That has been the big hurdle. How do you hold onto these assets. These are generally bearer instruments, just like gold bearer bonds. That’s the big deal. They have come up with a custody solution for institutional holders,” said CNBC’s Fast Money contributor and BKCM founder Brian Kelly.

According to Kelly the cryptocurrency market is very volatile due to the relatively low daily trading volume compared to other traditional assets and markets like the NASDAQ and gold. As such, the movement of funds of less than a billion dollars can disproportionally impact the market rates of cryptocurrencies, especially if large amounts of bitcoin are sold on public exchanges.

Despite the criticism from the crypto markets, the Mt. Gox trustee has continued to sell large amounts of bitcoin on public cryptocurrency exchanges, which has led to a very timid and reactive price of Bitcoin and in turn the whole cryptocurrency market.

The OTC Option

Many believe that the Mt. Gox trustee should use Over-The-Counter (OTC) markets, where large-scale investors are looking to purchase large amounts of Bitcoins and are therefore much more appropriate for large transactions. It appears that the trustee has however continued to sell on the public exchanges, where the drop in price due to the dump cascades to the crypto market as a whole.

On the other hand, this may create an opportunity for brave traders to pick up some cheap Bitcoin 🙂



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