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Crypto Lender Nexo Pays Token Holders Over $2.4 Million in Dividends

Crypto Lender Nexo Pays Token Holders Over $2.4 Million in Dividends

Nexo paid out $2,409,574.87 to token holders and reported an annualized dividend yield of 12.73%.

Crypto lending firm Nexo has paid its token holders a total of $2,409,574.87 in dividends. Nexo reportedly has reached an annualized dividend yield of 12.73%.

Nexo announced the completion of its dividend payments in a press release on Aug. 16. According to the press release, Nexo has a user base of over 250,000. Moreover, Nexo’s dividend yield is purportedly higher than every dividend-paying stock listed on the S&P 500 market index.

Nexo apparently pays out its total dividend in two parts — 50% comes from the Nexo Base Dividend and the other 50% from the Nexo Loyalty Dividend. Nexo claims that its model is designed to reward long-term investor confidence and decrease market volatility following dividend payouts.

The Nexo MasterCard

As noted in the press release, Nexo unveiled a MasterCard-branded credit card for crypto on Aug. 2. In its announcement, Nexo claimed its Nexo Card was the first in the world to let users pay in cryptocurrency without actually spending it. Nexo elaborated:

“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.”

Dividend payments through tZERO

Earlier this week, tZERO, the blockchain-based subsidiary of the retailer Overstock, announced the opening of the company’s preferred equity security tokens to non-accredited investors. This allows non-accredited token holders to earn money through company dividends. Per the announcement, tZERO said it might distribute a quarterly dividend of 10% of the company’s adjusted gross revenue. Moreover, the company said it was considering paying out dividends in more than just the United States dollar, with Bitcoin (BTC), Ether (ETH) and other security tokens being possible modes of payment.

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The content for this post was sourced from www.cointelegraph.com

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Bitcoin SV Devs to Offer ‘Office Hours’ for Project Assistance, Consulting

Bitcoin SV Devs to Offer ‘Office Hours’ for Project Assistance, Consulting

A Bitcoin SV developer has announced chatting and consulting services for other Bitcoin SV devs seeking help.

Bitcoin SV blockchain developer and blockchain organization service Open Directory creator synfonaut has launched a consulting service called Office Hours. This service connects developers in need of assistance with experienced Bitcoin SV devs, for help on Bitcoin SV projects. 

Synfonaut announced the service’s launch in a Twitter post on Aug. 15. As per the platform’s  website, users can reach out to over a dozen professional developers for help on a product or service. This apparently provides a way to chat with a knowledgeable dev, in sessions that typically take an hour.

The website also provides a separate section, with many of the same devs, for those seeking more in-depth consulting. According to the website’s description, this offering is a paid service for ongoing help or for simply hiring a developer to create a project themselves.

More developer support

As reported by Cointelegraph in May, the New York-based blockchain firm ConsenSys has released a support kit for prospective Ethereum blockchain developers. 

In August, the blockchain development company Truffle announced at its annual developer conference that its fully managed suite will support the blockchain protocols Corda, Hyperledger Fabric and Tezos. At the time of the announcement, Truffle’s suite only supported Ethereum and Quorum.

Bitcoin SV Blockchain for Weather Data

As of June of this year, the vast majority of transactions on the Bitcoin SV blockchain in June were for weather-related transactions, as reported by Cointelegraph. These transactions, which accounted for 98% of all transactions over a 30 day period, were used in the Bitcoin SV-backed weather app WeatherSV. This app is apparently a paid subscription service that pulls data off of the website OpenWeatherMap.org every hour. 

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The content for this post was sourced from www.cointelegraph.com

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Dash Releases Upgrade In Response to Newly Exposed Vulnerabilities

Dash Releases Upgrade In Response to Newly Exposed Vulnerabilities

Dash has released a new version of its peer-to-peer client in response to security issues that became apparent this week.

Dash has released Dash Core v0.14.0.3, a new version of the wallet and P2P client for its cryptocurrency DASH in light of recent transaction spikes on its mainnet. 

Security upgrade

Dash Core announced the news in an official blog post on Aug. 15. According to the announcement, Dash was hit with either an external stress test or attack on Wednesday and Thursday this week. The post said that “the upgrade is strongly recommended for all Masternodes and is also recommended for all users, exchanges, partners and full node operators.”

The developer subsequently discovered issues including mempools not being emptied, a 1MB cap on blocks, masternode crashes, masternodes banning other masternodes and delayed listing of transactions on some blocks. Dash Core version 0.14.0.3 is reportedly designed to address some of these issues and includes changes such as improvements to database space use and various signing failures.

Dine and dash

Near the end of 2018, a United States-based fast food chain restaurant called Church’s Chicken began to accept payments in DASH at its South American branches in Venezuela. There are reportedly 10 Church’s Chicken restaurants in Venezuela, and all of them decided to accept DASH. At the time of their decision, the restaurant reportedly claimed that it was the first global, fast food restaurant to take crypto payments.

In a less-than-savory turn of events, a man in Israel allegedly stole over $9 million in DASH from his roommate. Afek Zard allegedly stole 74,990.74 DASH from Alexei Yaromenko, who apparently is an early cryptocurrency investor that taught his roommate about crypto. Zard has been indicted, standing accused of stealing the assets in Yarkomenko’s wallets and transferring them to his own addresses. In addition to the theft, he has been additionally accused of money laundering and “penetration of a computer to commit an offense.”

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The content for this post was sourced from www.cointelegraph.com

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Coinbase Custody Buys Xapo Institutions, Continuing Rapid Expansion

Coinbase Custody Buys Xapo Institutions, Continuing Rapid Expansion

Coinbase Custody announces acquisition of Xapo’s institutional business, putting total assets under custody over $7 billion.

Coinbase Custody has reportedly acquired Xapo’s institutional business to become the world’s largest crypto custodian by assets under custody.

Major crypto exchange Coinbase announced the news in a post on the company’s blog Aug. 15. The news follows rapid growth on the part of Coinbase’s year-old custodial wing, which only two months ago reported assets under custody (AUC) valued at $1.3 billion. 

According to the announcement, the new acquisition puts Coinbase Custody’s AUC at $7 billion.

Xapo is itself a major crypto wallet provider who has apparently been in negotiations with Coinbase Custody over the sale of its institutions business since the middle of May this year.

The announcement claims that Coinbase Custody now stores on behalf of more than 120 clients in 14 different countries. In affirming the company’s commitment to its institutional services, Coinbase wrote: “Our institutional range of products provides a seamless, powerful and compliant ecosystem for our clients to trade, store and interact with their crypto.” 

Earlier this month, Cointelegraph reported that Coinbase Custody had added experts in New York banking regulation to its Board of Directors, suggesting plans to expand in the notoriously tough regulatory environment of New York State.

In July, Coinbase CEO Brian Armstrong said in an AMA session that he hoped to see Coinbase shift its focus from trading to broader adoption within the economy in the next five years.

As of press time, Coinbase had not responded to Cointelegraph’s request for comment.

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The content for this post was sourced from www.cointelegraph.com

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Bitcoin Drops to $10,000 in Recent Downtrend

Bitcoin Drops to $10,000 in Recent Downtrend

Bitcoin has fallen to $10,000, the latest low in an ongoing slump this week.

Despite exceeding $12,000 several times this month, Bitcoin (BTC) has slumped back to $10,000 in a recent downtrend. The number one cryptocurrency last traded below $10,000 on July 31.

A little earlier this month, experts were optimistic about Bitcoin continuing its rally, citing geopolitical tensions — particularly the ongoing United States-China trade war — as a reason for its possibly continuing success. Galaxy Digital CEO Mike Novogratz commented on Aug. 5 about this possibility, saying:

“With the yuan over 7.0, an FX war, instability in HKG and the beginnings of capital flight, $Btc rally could have real legs.”

Co-founder of market research firm DataTrek Research Nicholas Colas recently said that investors in Hong Kong and Argentina have used the original crypto as a safe haven asset. Forbes contributor and former executive director at Deutsche Bank Peter Tchir recently wrote in an article that Bitcoin is a leading indicator of hidden geopolitical tensions.

Crypto investors are reportedly now divided into three main camps regarding Bitcoin price predictions. The most bearish of the three say that Bitcoin is set to pull back to $8,500–$7,500 while the moderates say it will consolidate between $9,000 and $12,000 prior to its rewards halving in 2020.

The bulls remain unphased by recent price trends and remain confident that Bitcoin will retake its yearly high and continue upwards. Correlatory data with Tether (USDT) suggests that it will reach $20,000 in about a month.

At press time, Bitcoin is trading at $10,048, down 5.81% on the day and almost 16% on the week according to data from Coin360.

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The content for this post was sourced from www.cointelegraph.com

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Walmart Files Patent for Blockchain-Based Drone Communication System

Walmart Files Patent for Blockchain-Based Drone Communication System

Walmart has filed a patent for a drone communications system, in which drones could share and encrypto info using blockchain technology.

American retail giant Walmart has submitted a patent application for a drone communication system that is based on blockchain technology. 

Walmart filed its patent with the United States Patent and Trademark Office (USPTO) on Aug. 1. The filing describes a system on a drone that encrypts and stores that drone’s operational parameters. That information is subsequently passed to another drone, which decrypts, reads and then configures to those parameters.

In essence, the vehicle-to-vehicle communication system between unmanned drones would relay messages, mesh communications networks and allow machines to be aware of each others’ location and bearing. 

Walmart’s venture into blockchain patents

Walmart has been engaged in patenting blockchain solutions for drones since at least 2017. As previously reported by Cointelegraph, Walmart filed a patent application with the USPTO in May 2017 for a system of “Unmanned Aerial Delivery to Secure Location.”

Earlier this year, Walmart partnered with IBM and the American Food and Drug Administration to track pharmaceutical shipments with blockchain technology.

The retail giant has also made a foray into cryptocurrencies, having submitted another patent for its own blockchain-based digital currency earlier this month. 

IBM has similar aims

As previously reported by Cointelegraph, IBM also submitted a patent application with the USPTO in 2017 for a system that would secure drone communications by storing and sharing information via blockchain tech. In the filing, they suggested that validator nodes could offer special permissions, such as for determining whether a drone is allowed to fly in a given flight zone.

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The content for this post was sourced from www.cointelegraph.com

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Barclays May Be Ending Work With Coinbase, Transactions in GBP to Slow

Barclays May Be Ending Work With Coinbase, Transactions in GBP to Slow

Insiders at London-based banking giant Barclays have said that the bank is putting an end to its work with crypto exchange Coinbase, which will complicate.

British banking giant Barclays has reportedly cut ties with United States crypto exchange Coinbase.

As Coindesk reported on August 13, unnamed industry sources have said that Barclays will no longer be banking for Coinbase, severing a relationship that began when Coinbase opened a Barclays account in March 2018.

The news is expected to hit the crypto community hard, as, in addition to linking a major crypto exchange with a heavy hitter among the traditional banking establishment, the break may end Coindesk users’ access to the United Kingdom’s Faster Payments Scheme (FPS) and slow the exchange of cryptocurrencies for British pounds sterling dramatically.

The precise reason for the split is unknown, but one anonymous source speculated to Coindesk that: 

“It is my understanding that Barclays’ risk appetite has contracted a little — I’m not sure exactly why or what’s been driving that, maybe there has been some activity they are not happy with. But it’s about Barclays’ comfort level with crypto as a whole.”

Reportedly, Coinbase will continue its access to UK banking through Clearbank, a younger and less established operation.

This is not the first time that Barclays has taken a step back from increasing involvement in the crypto sphere. In August of 2018, the bank began official denials that it was opening a crypto trading desk in light of two employees removing information about work on digital assets from their respective LinkedIn profiles. 

Coinbase, for its part, does not seem to have suffered greatly in recent months. This July, it came out that the exchange had registered eight million new users in the preceding year.

Also in July, Cointelegraph reported that Coinbase’s CEO Brian Armstrong was looking to take the exchange beyond trading, expressing plans to expand Coinbase into wider promotion of crypto adoption.

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The content for this post was sourced from www.cointelegraph.com

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Icon to Giveaway $570,000 in Tokens to Promote Voting, Decentralization

Icon to Giveaway $570,000 in Tokens to Promote Voting, Decentralization

Icon announced that it is giving away roughly $570,000 worth of its native tokens in order to promote voter and staking participation.

The Icon Foundation, the group behind the Icon blockchain network, is giving away 3 million ICX tokens — worth ~$570,000 — in anticipation of its upcoming Public Representative (P-Rep) elections. The giveaway will last from August 26 to September 24 for IXC token holders who opt to participate in P-Rep voting.

Icon shared news of the giveaway in a press release on Aug. 13. According to the announcement, the giveaway is an effort to promote community involvement in the so-dubbed P-Rep elections, and to advance decentralized control of the network. 

As per the announcement, ICX holders must participate in voting and staking in the upcoming P-Rep in order to receive tokens from the giveaway, so the giveaway acts directly as a participation incentive.

ICON Foundation founder Min Kim elaborated:

“With the giveaway, we expect not just to re-distribute 3 million ICX for better decentralization and voting capabilities, but we also hope to encourage current ICX holders and ICON community members to transfer their coins to ICONex wallet, so they can properly stake and participate in the upcoming P-Rep elections.”

Becoming more decentralized

The foundation is reportedly actively looking to lessen their own share of the network, and is further encouraging voters to spread out their delegation among the P-Reps. The purpose, as they say, is to make sure that the network remains decentralized, by making sure that neither the foundation nor initial representatives have too much control.

As explained in a report by Decrypt, the Icon Foundation currently controls a lot of its coins, but not for long. The foundation is moving to launch a governance mechanism, dubbed Iconsensus, which shifts the network’s governance model to something like a proof-of-stake system. However, this means that token holders have to elect third parties to run the network. This is where the giveaway incentives come in, which Decrypt reports to be worth $570,000 in total.

DApp Connectivity 

Per the press release, Icon is a blockchain network that aims to connect blockchain projects together. This includes decentralized application (DApp) development for public blockchain sectors via partnerships.

As reported by Cointelegraph in May 2018, Icon partnered with the Japanese messaging app Line via joint blockchain initiative Unchain. According to the report, Line aimed to bring its blockchain mainnet closer together with its DApps via Icon’s blockchain solution.

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The content for this post was sourced from www.cointelegraph.com

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Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others

Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others

The upcoming crypto derivatives platform Blade has raised over $4 million from Coinbase and SV Angel, among others.

A soon-to-launch cryptocurrency derivatives exchange has raised $4.3 million from major investors such as the cryptocurrency platform Coinbase and the investment firm SV Angel. The exchange Blade is scheduled to launch in three weeks’ time.

Blade’s funding and plans come by way of a Tech Crunch report on Aug. 12. The report notes that in particular, Blade is aiming to provide trading for cryptocurrency-based perpetual swap contracts with three new improvements.

First, the perpetuals contracts will be drawn up using standard, simple contracts. Second, the perpetuals will use Tether’s stablecoin USDT for settlement and margins. Third, trades can be leveraged up to 150 times their price for cryptocurrency trading pairs.

As explained in the report, crypto perpetuals allow traders to bet on the price of a cryptocurrency with respect to another currency. However, unlike futures, perpetuals do not have an expiration date. As indicated in the report, Blade currently provides a listing of their cryptocurrency pairs for perpetuals. At press time, the upcoming exchange lists seven different trading pairs.

Blade CEO Jeff Byun commented on the company’s aims for their derivatives platform, saying:

“In the long term, we want to be the CME of crypto […] Coinbase and Binance are building this foundational structure for crypto, but I think we are too and in a sense that derivatives are at their core about risk transfer, we want to be building the foundational layer for risk transfer in the crypto markets.”

Derivatives at Bitfinex

As previously reported by Cointelegraph, the major cryptocurrency exchange Bitfinex recently hinted that they might be adding 100x leverage for derivatives trading. The company’s CTO,

Paolo Ardoino, suggested the figure in a non-committal Twitter post with a simple image and accompanying emojis. Ardoino also remarked in the comments that there are no planned changes for the company’s current margin trading, and such a high-end inclusion would be available separately.

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The content for this post was sourced from www.cointelegraph.com

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Binance’s Trust Wallet Releases Desktop App for MacOS

Binance’s Trust Wallet Releases Desktop App for MacOS

Crypto exchange Binance’s Trust Wallet has released a desktop application for the macOS, with support for Windows and Linux to follow.

The Binance-owned digital currency wallet, Trust Wallet, has released a desktop application for macOS.

The team behind Trust Wallet announced the development in a tweet today, Aug. 12, also revealing that the wallet will be available in the Mac App Store shortly.

In a series of tweets, Trust Wallet founder Viktor Radchenko disclosed that support for Linux will be launched next week. Radchenko further said that the main challenge for the team now is to port Trust Wallet to Windows, which they have ostensibly not done yet. Radchenko also noted that most desktop crypto users — around 75% — are on Windows.

The development follows news that Binance added support for multiple decentralized exchanges (DEXs) to Trust Wallet by integrating the Kyber Network protocol, a dedicated platform for cross-token trading solutions. 

Binance acquired Trust Wallet in August 2018. At the time, Binance claimed that Trust Wallet will remain autonomous in most of its operations, while Binance will help with administration and work on marketing development.

Trust Wallet is an open source, U.S.-based, anonymous, and decentralized wallet that supports Ether (ETH) and various Ether-based tokens (ERC20, ERC223, and ERC721).

In June, Binance released Trust Wallet on Binance DEX. The integrated wallet will purportedly help support Binance DEX users wishing to maintain custody and full control over their funds, while benefiting from fast trading services.

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The content for this post was sourced from www.cointelegraph.com

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