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TON TOOLS: Telegram’s new blockchain project will be compatible with ethereum, according to a tech startup building tools for the network. TON Labs, helmed by investors in Telegram’s token sale, is building a Solidity compiler that which will allow decentralized applications built for ethereum to also run on TON, said TON Labs CEO Alexander Filatov. The messaging company is expected to release the code to run a node on the Telegram Open Network (TON) on Sunday, allowing users to trial its project in advance of the project’s expected mainnet launch on Oct. 31. Full story
TETHERED TRADERS: Chinese traders continue to drive the crypto market forward by using the dollar-pegged stablecoin tether (USDT) as a work-around to banking restrictions. According to CoinMarketCap, USDT activity reached an all-time high this month with a global market cap exceeding $4 billion. Further, Tether is used in between 40-80 percent of all Huobi and Binance transactions. But since this asset is favored among over-the-counter (OTC) traders, official exchange volumes hardly paint a complete picture. Full story
DIGITAL YUAN? A new research report from crypto exchange Binance says China’s digital currency will most likely be a two-tiered system replacing notes and coins in circulation. The report, issued yesterday, claims the People’s Bank of China (PBOC) central bank digital currency (CBDC) will be backed 1:1 by renminbi fiat as well as follow a two-tiered structured system with the bank, commercial banks, and retail market participants. The two-tiered system could help the PBOC process as many as 300,000 transactions per second, currently not possible with blockchain technology. Full story
CRYPTO COLLABORATION: Malta-based crypto exchange Binance wants to spur greater research in open-source blockchain development. To that end, the exchange unveiled Binance X on Thursday, announcing that it was funding more than 40 developers conducting research into open-source crypto software. Binance X also hopes to facilitate collaboration in the Binance ecosystem by providing resources to projects in various stages of development and tap blockchain “evangelists” to foster education around the space. Full story
LAUNCH PARTNER: Aerospace giant Boeing has joined the governing council for Hedera Hashgraph, a blockchain-like network for enterprises. The Chicago-based aircraft and satellite manufacturer became the 10th member of Hedera’s governing council Thursday, joining the likes of Tata Communications, Nomura Holdings and IBM. The news comes hot on the heels of financial services provider FIS Global’s announcement to join the network that will support transaction ordering, micropayments and distributed file storage when it launches. Full story |
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| MOONLESS MONTH: Bitcoin looks set to register its third monthly loss of the year with a moderate price drop in August. The leading cryptocurrency by market value is currently trading at $9,600, representing a 4.8 percent drop on the opening price of $10,096 observed on Aug. 1, according to Bitstamp data. If prices remain below $10,096 till Saturday’s UTC close, then it would be the third monthly loss of 2019. BTC fell 7.59 percent and 6.27 percent in January and July, respectively. Full story |
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| | BTC PAPER TRAIL: Unsuspecting bitcoin ATM users in Winnipeg, Canada may have been swindled out of their BTC after fraudsters taped out-of-order signs on two terminals, reports CoinTelegraph. The signs said the machines were undergoing a software upgrade and directed users to deposit crypto to a fraudulent QR code provided. Police reportedly said no one had fallen for the scam. |
WHO WON #CRYPTOTWITTER
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