EOS platform, a popular choice for hosting dApps is facing severe network congestion due to one dapp, EIDOS. Similar to what Cryptokitty did to the Ethereum network, EIDOS dapp has blocked the entire network since Nov 1st by taking up most of the transaction processing. EOS network known for speed...
Europe is planning to build an improved instant payment system to overcome the dominance of US-based payment providers such as Visa, Mastercard, PayPal, etc in Europe. To overcome this threat, the European central bank (ECB) aims to roll out a pan-European instant payment by the end of 2021. Source: Reuters....
South Korean cryptocurrency exchange Upbit got hacked resulting in 342,000 ETH (approx $50.6 Million) stolen from their hot wallet. The hack happened on Nov 27th, 2019 at 5:06 AM (GMT+1). The stolen amount was moved from Upbit’s ETH hot wallet to the following address: 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029. As a result, Upbit has...
TransferGo, a digital remittance solution for migrant workers is looking to move to Ripple’s On-Demand Liquidity (ODL) payment platform. Ripple’s On-Demand Liquidity (ODL) platform leverages XRP cryptocurrency as a bridge for cross border payments. In 2018 TransferGo partnered with Ripple to help Indian migrant workers send money from Europe to...
Bakkt prepares to offer cash-settled bitcoin futures. Bakkt announced the development in a press release issued on Nov 21st. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which is regulated by the Monetary Authority of Singapore. Bakkt wants to set itself apart...
€400 million was decided to be funneled into AI and blockchain projects in Europe. The decision was made by the European Commission as well as the European Investment Fund. The investment is going to put the European Union in a leading spot in terms of funds invested in the blockchain...
Fidelity obtains a trust license from the New York Department of Financial Services to offer Bitcoin custody service to New York residents. Additionally, Fidelity also received the license to operate a trading platform on which New York’s institutional investors can securely purchase, sell, store or transfer Bitcoin. “The custody and...
Nearly after a month since the remaining 21 Libra association members signed the charter, the Libra team released an update of its progress. The Libra association shared the update in a blog post that since Sept 17, Libra’s testnet network has logged over 51,000 transactions with 7 nodes supporting the...
Walmart Canada has developed a blockchain-based payment network that managers real-time invoicing, payments and settlement for its carriers, third-party trucking companies that transport inventory to over 400 Walmart retail stores across Canada.
Iran government announces a new electricity tariff for cryptocurrency mining operations. As per the guideline, mining digital currency is banned during peak hours, which usually spans over 300 hours in the four-month period of high electricity consumption across Iran mostly due to the warm weather. During non-peak hours of this...
