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WORK IN PROGRESS: The idea of "decentralized exchange" is still just that, an idea, despite the proliferation of platforms being described as such. Data exclusively provided to CoinDesk shows that these markets, presented as alternatives to centralized exchanges, still have low volumes and in many cases, a narrow range of participants, underscoring that DEX is on the "pathway to decentralization," but not there yet. Full Story
TOKEN SHORTAGE: What happens when your startup runs out of its own tokens? A blockchain publishing protocol called U Network announced in early July that unprecedented demand was exhausting its reserves of UUU crypto tokens. For U Network, the answer to the unusual predicament is a planned token buy-back. Full Story
MINING CRACKDOWN: Chinese authorities are set to halt all unlicensed bitcoin mining operations in the Xinjiang Uyghur region. Utility companies are to assist in government efforts to guide crypto businesses in an "orderly exit," since the authorities believe these outfits contribute nothing "besides consuming a spiking volume of electricity." Full Story |
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While prices indicate it was a listless second quarter for bitcoin, a strong majority of respondents to the CoinDesk Q2 Sentiment Survey think it's moving in a positive direction overall.
Asked how they feel about the current state of the cryptocurrency, respondents broke down between 70% positive, 18% negative, and 11% neutral.
However, comparing these figures to the previous quarter's results paints a different picture. The negative side gained 11%, the neutral gained 4%, and the positive lost 16%.
So while the overall sentiment remains largely bullish, the change suggests some unease starting to seep in.
Learn these insights and more in the Coindesk Q2 State of Blockchain. More research |
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| | BACK ON TOP: After months of lows below $6,000, the bitcoin price rallied today to a high of $7,820 and looks set to extend gains even further, a key cryptomarket gauge indicates. Full Story |
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BEST OF THE BEST
NEW YORK TIMES: Responding to recent reports that Russian agents used bitcoin to fund their efforts to meddle in the 2016 U.S. presidential campaigns, Kevin Werbach posits that the operatives would have been better off "using briefcases full of cash."
In an opinion piece, Werbach explains to the NYT audience that bitcoin's use for criminal purposes is limited given that all transactions using the cryptocurrency are public. The greater issue for bitcoin in Werbach's eyes is sustaining an ecosystem of trust.
THE REST
FINANCIAL TIMES: Market manipulation is rife in "loosely-regulated crypto land," FT reporter Hannah Murphy writes in an article focused on pump-and-dump schemes. This kind of "dodgy behaviour" has got some regulatory agencies worrried.
REUTERS: The Bank of England (BoE) is looking to revamp its payments system to be compatible with financial technology firms using distributed ledger technology. Reuters reports that the announcement is really a continuation of efforts that began as early as March when the BoE conversed with several firms about a proof of concept. |
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