“Consensus by conference call” — that’s how one critic characterized the on-chain governance model employed by the nascent EOS network in the wake of several high profile incidents involving block producers. Most recently, the network’s 21 block producers — organizations who verify transactions and validate blocks — froze seven EOS accounts allegedly belonging to thieves who had […]

Have modern internet companies gone too far? According to mathematician and Blockstream research director, Andrew Poelstra, the answer is unequivocally yes. In his view, companies are simply now vacuuming up troves of customer data, which they then sell to others without the owner’s knowledge or benefit. (Think how Instagram owns user images, or Target acquires huge amounts of data on […]

To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank, they’re “pioneers.” At least, that’s how the New York financial institution’s chief technology officer, Nick Rosenberg, describes them. “We’re certainly very interested in growing this vertical,” Rosenberg told CoinDesk of the bank’s crypto clientele. “We’ve learned that it’s a serious industry. […]

Ever since the arrival of Bitcoin, many people have predicted that “soon” all of the cryptocurrencies will crash. The trends in cryptocurrencies have been compared to global events such as tulipmania, the 1929 stock market crash and the dotcom bubble. However, even after the recent fall in crypto prices, the industry continues to attract new investors. This […]

A bird? A plane? No, that’s just a giant penis spouting flaming bitcoin. Such is the canvas at Satoshi’s Place, a web app that allows savvy users to create digital pictures by sending small amounts of bitcoin. In the weeks since its release, the graffiti tool has become the site of territorial battles of pixel-space, with […]

Cboe Global Markets may now be close to launching an ether futures product, following a recent comment from a U.S. Securities and Exchange Commission (SEC) official indicating that the agency doesn’t consider ethereum’s native cryptocurrency a security. On Thursday, the SEC’s director of corporation finance William Hinman notably said that, based on his understanding of “the ethereum network […]

Social network company Spot.IM is planning to pay employees using Bitcoin, as reported by Israeli newspaper Calcalist. However, the firm is currently negotiating with the Israel Tax Authority to receive permission for the proposed payment method, along with the proper way of calculating exchange rates. Itay Bracha, Spot.IM’s legal representative, said that salary or benefit paid to […]

By Laura Desmond Understanding Ethereum Mining and the Need for Proof of Stake.  Mining is the lifeblood of all POW based cryptocurrencies. When miners “mine” to form new blocks to add to the blockchain. Miners use heavy duty computational power to solve cryptographical puzzles to satisfy a difficulty level. Understanding Ethereum Mining and the Need for a Stake/Proof of Work Hybrid […]

Yahoo Finance presents All Markets Summit: Crypto — the latest in our series of All Markets Summit events produced by Yahoo Finance. This all-day livestream event will take place on June 14th in San Francisco at the Nasdaq Entrepreneurial Center. We will examine the global investment appetite for bitcoin and other cryptocurrencies, and endeavor to […]

The bitcoin price has dipped below the $6,500 mark, falling to the lower end of $6,400. A major support level at $6,421 was breached, a major support level since early April. The next major support level is at $6,000, and falling below it could result in bitcoin falling to $5,000. Is $5,000 Next? Weak volume has been […]