Friday, November 1, 2019

"Smart money" / Binance looks to Beijing / BitMEX Twitter hacked

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Market Watch: Industry prices remain relatively stable during Friday trading. Bitcoin is floating above the $9,000 mark to end the working week on a positive note following its dip last week.

Bitcoin: $9,173 (⬇️ 0.91%) // $165.3 billion market cap.
Ethereum: $181 (⬇️ 1.28%) // $19.6 billion market cap.
XRP: $0.298 (⬇️ 1.77%) // $12.5 billion market cap.
Bitcoin Cash: $275 (2.71%) // $4.9 billion market cap.
Top 100 Winner: Lambda: $0.062 (⬆️ 33.10%) // $47 million market cap.
Top 100 Loser: Molecular Future: $0.992 (⬇️ 8.44%) // $41 million market cap.

Prices are as of 4 p.m. EDT.

1. Statistician Willy Woo has said that "smart money" entered the crypto market following the rejection of the Bitcoin exchange-traded fund (ETF) filed by the Winklevoss twins. According to Woo, bitcoin was first described as a "financial instrument instead of drug money" in 2017, when Cameron and Tyler Winklevoss made their first ETF submission. To support this, Woo posted a chart on social media that shows a new phase to Bitcoin's volatility started in March 2017. In Woo's opinion, denial of the Bitcoin ETF was the beginning of a reduction in the crypto asset's volatility. –@woonomic

2. Crypto exchange Binance is, reportedly, planning a new office in Beijing, according to sources familiar with the news. Binance, who moved its headquarters to Malta from China in September 2017 following the government's ban on crypto assets, has an office in Shanghai. It's not known when the office will open, but the announcement comes at a time when China's President Xi Jinping has called on for the nation to "seize the opportunity" with adopting the blockchain. It also comes amid thawing relations between the crypto industry and China. In September, it was reported that Binance was making its first investment in China since 2017. –COIN DESK

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3. Follow Friday: Melanie Mohr

Mohr is based in Berlin, Germany and has 20 years' experience in media, marketing, and mobile technology. In 2016, she founded YEAY, a community of Generation Z who share their recommendations via video regarding the lifestyle products they like.

In 2018, she became the founder and CEO of the WOM protocol, a blockchain-based platform that enables brands to take advantage of recommendations and to monetize on this through word-of-mouth (WOM) content.

Despite only having over 400 followers on Twitter, Mohr is an avid user and often tweets posts. On October 20, she tweeted the pleasure she had taking part during an Ask Me Anything (AMA) session with TokenGazer Inc., along with Sunny Ng, CMO of Bithumb Global. In another, she highlights the social responsibility of ads, whereas in a third she questions what it means to be young in the age of the internet?

Follow her if you want to learn more about what Mohr is doing with the WOM protocol and how YEAY is integrating with the platform.

4. Hackers have taken over the Twitter account of crypto exchange BitMEX, but users' funds are, reportedly, safe. Hackers managed to post two messages on Twitter before they were deleted. One said "take your BTC and run. Last day for withdrawals." Another simply said "hacked." The platform has said that while "trolls" may target their Twitter account, users' funds are safe. Earlier today, it was also reported that BitMEX had accidentally leaked user emails after failing to blind copy on a mass email. According to crypto lawyer Jake Chervinsky, the error was committed in the "outrageously incompetent way imaginable." –COINTELEGRAPH

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5. Mike Wasyl, managing partner at DeerCreek, a fintech firm, has said that China's public views about adopting the blockchain are going "to stir a lot of interest" and that a central bank digital currency (CBDC) is "an inevitability." In his view, if the U.S. is to take charge ahead of China, the U.S. needs to cut blockchain firms "more slack to allow some exploration." –FORTUNE

6. New York Eastern District Court Judge William F. Kuntz has ordered Reggie Middleton and his companies blockchain firm Veritaseum LLC and Veritaseum Inc., to pay $8.4 million in disgorgement. He is also liable for a civil penalty of $1 million. According to a report, Kuntz approved a motion for a consent judgment in a securities fraud case that involved several of those involved with the firm. According to a lawsuit, brought by the U.S. Securities and Exchange Commission SEC), the defendants are alleged to have raised $14.8 million in an initial coin offering (ICO) via misrepresentations and omissions about the unregistered tokens they were offering, called VERI tokens. –FINANCE FEEDS

7. The Indian state of Tamil Nadu is working on state-level policies for artificial intelligence (AI) and blockchain. According to The Times of India, the policy could be released as soon as the next 10 days. The policies will help to establish ground rules for the state government on how it can apply the technology for service delivery and solving governance issues. –THE TIMES OF INDIA

8. The 10 millionth blockchain-based invoice has been issued in the Chinese capital of Shenzhen. Over 7,600 companies have accessed Shenzhen's blockchain electronic system to date, totaling around $1 billion. The invoices have primarily been used for finance and insurance, retailing, hotel catering, and parking services in the city. –XINHUANET

9. Data analytics giant Splunk has raised $40,000 for charity after giving the 10,000 attendees at its yearly conference in Las Vegas an ethereum-based blockchain wallet. Complete with an ERC-20 token, they were used to pay for activities at the conference and donations. More than 2,000 individual donations were made to three separate non-profit organizations including NetHope and Conservation International. The biggest donation, $10,446, was given to the Global Emancipation Network, a human-trafficking awareness group. –COIN DESK

10. Ember Fund is hoping to raise $1 million via an SEC-registered securities sale. Announced today via a filing with the SEC, the sale of the Crowd SAFE token will take place through the end of January 2020. It will occur on Republic, an online startup investment platform. Ember Fund is an app-based equivalent to a crypto hedge fund that comes with an automated AI system. According to CEO Alex Wang, the funding round is small as it is aimed at "friends and family." –COIN DESK

This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.

Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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A Recap & Rundown of the AtomicDEX Stress Test

November 1, 2019

Updates & Developments

-- The AtomicDEX stress test was held yesterday, on October 31, from 12pm to 6pm GMT. The test provided the Komodo Development Team with an enormous amount of valuable data about potential bottlenecks in the networking layer, and will help the Komodo team perfect AtomicDEX in the upcoming months. Up to 2000 simultaneous traders tried to perform atomic swaps at the same time, while the infrastructure was scaled down to identify breaking points under high load. During the 6 hour test, over 100 traders completed an atomic swap. The Komodo team would like to thank all participants for their commitment and support during the first AtomicDEX stress-test. The winners will be announced soon and the KMD prizes will be sent soon after.

-- Komodo published a long-form post on decentralized exchanges. The post is an objective analysis and technical comparison of the top 8 DEX protocols in the blockchain industry today. See the full DEX analysis here.

-- This week, KMD was listed on Travala, a cryptocurrency-friendly hotel booking service. Travala.com is now accepting KMD as a form of payment, along with other major digital currencies, such as BTC, LTC, ADA, and BNB. Read this announcement for more details.

-- Komodo Business Developer Jason Brown attended the World Crypto Conference in Las Vegas this week. Jason ran a Komodo booth at the WCC Mine 2019 event, promoting Komodo's Antara framework and the AtomicDEX Beta. Check out this tweet to see a photo of Jason and the Komodo booth at WCC.

-- Komodo Lead Dev James 'jl777' Lee published another new blog post this week. This most recent post is titled "Multichain Decentralized Cashier For Gaming." Read jl777's full blog post here.

-- An in-depth development analysis of Komodo was published this week by third-party analysis site Code Coin Cap, a site that ranks blockchain projects according to their activity on Github. Komodo's development analysis has lots of great data and informative graphics. View the full report here.

A Word From The C-Suite

"The Komodo team, especially the developers and QA experts, would like to thank all participants for their commitment and support during the very first AtomicDEX stress test, which was primarily held to collect backend, network, and DEX-protocol metrics during a period of an extremely high network load and dynamic orderbooks.

This is a high-level transparency report to summarize the events, results, and details of this test.

We executed the stress test with minimum underlying hardware infrastructure, which resulted in network layer failures during the unexpectedly huge load peak of ~2000 simultaneous traders. This delivered essential data and metrics to the Komodo team that will now allow us to optimize the swapping process by refactoring the protocol - i.e. the networking part (rebroadcasting, routing client connections and orders, etc.).

AtomicDEX's current networking model does increase the load with the growing number of network broadcast messages and it can thus sometimes lead to an unpleasant experience, as in the case of a "network bottleneck" where only a limited number of trades go through. Over 100 testers were able to successfully execute swaps during the stress test.

We'd like to highlight how important this stress test in a limited environment is for the developers and engineers at Komodo. Our experts will optimize the affected layer over the coming weeks and as soon as the DEX is ready for a full-scale test (with multiple trading pairs and automatic spam clients) we will announce the details. The next test will have a bigger prize pool and focus on the general trading experience, as opposed to the load-test focus of this most recent test.

Thank you for your time and participation to help us perfect the DEX system."

Komodo CTO Kadan Stadelmann

Komodo Ecosystem Updates

Chainzilla was a finalist in a regional Seedstars competition.

"We're happy to announce that we qualified as a finalist for most innovative startups in Panama."

See this tweet more for more information.

The Hush Coin team is looking for beta testers and bug-hunters.

"We could use some help testing what will become our newest Hush release! If you can compile software (any OS) OR are able to install Debian packages, please help us test! 100 HUSH bounty to anybody that can do a full sync or if anybody finds an issue."

Begin testing by downloading the latest version of the HUSH software here.

Pirate Chain is collecting community donations to integrate z-address functionality to AtomicDEX.

"We have 140K ARRR donated for Z AtomicDEX integration bounty. thank you all that donated. if you can spare some ARRRtoshis, the donation address for this is zs1zcvuz4gf826yp8trncj9l86a6xracrf2jk8lwz5v6xz7zntgmgahwrxw9rxu9jtthscex4aanpe ."

Join the Pirate Chain community on Discord to learn more.

Utrum is giving away 500 KMD in a new OOTER of the month contest.

"We are happy to announce OOTER of the Month Contest for November 2019. Members can write reviews, make predictions, create insights or publish reports."

Learn more about the OOTER of the month contest here.

RedFOX Labs is finding ways to succeed despite Southeast Asia's talent shortage.

"Southeast Asia's Internet economy is on pace to reach $300 billion by 2025. Google's 2019 'e-Conomy SEA' report forecasts a 200% increase over the region's $100 billion in online spending this year."

Read the full blog post on the RedFOX Labs blog here.

Komodo is partially sponsoring Block Party Amsterdam, an event on November 7th.

"Komodo sponsors Block Party Amsterdam! Komodo Platform has introduced the industry's first open, composable Smart Chain platform & we'll be announcing a key speaker for the event from the Komodo team very shortly."

Learn more about Block Party Amsterdam here. Register for your free tickets here.

Thanks for reading and have a great weekend!

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China Preparing For Its Crypto Launch 🇨🇳

November 1, 2019	View in browser

Go Pro. This week, our pro newsletter dove into China's stance on blockchain technologies, Bakkt's upcoming consumer payment app, and Tether's insolvency.

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This week in a nutshell

In preparation for their upcoming blockchain initiatives and national cryptocurrency, China has banned articles that say blockchain technology is a scam from the public.
Caanan Creative, a cryptocurrency mining hardware manufacturer, has filed to go public in the United States. This is Canaan's third attempt to go public after trying in both mainland China and Hong Kong .
Binance has launched a fiat to crypto onramp/offramp by way of the Russian Ruble (RUB). Users can now deposit Russian Ruble and buy BTC, ETH, and XRP.
Cryptocurrency mining hardware manufacturer Bitmain has filed for an initial public offering in the United States with Deutsche Bank as their sponsor.
Cryptocurrency exchange OKEx will be launching cryptocurrency-based futures contract settled in Tether (USDT) beginning November 6. OKEx will support USDT pairs including bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, XRP, bitcoin SV (BSV) and Tron (TRX) at launch.
BitMex has leaked the email addresses of its users. In a mass email sent out on November 1st, all of its recipients' email addresses were visible in the 'to' line.
On October 30th, the bitcoin blockchain hit 1 billion in cumulative transaction fees.

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