Square Crypto Hires Bitcoin Core Developer and Blockstream Co-Founder Matt Corallo

The crypto division of Square, Square Crypto, has recently hired Matt Corallo. The announcement was made on Twitter. He was one of the co-founders of Blockstream and a prominent Bitcoin dev. He previously worked on Chaincode Labs, too, where he passed almost three years.

Corallo commented on the news affirming that he was very excited to be a part of the team. According to him, it will be very exciting to experiment on Square Crypto and to make Bitcoin even better.

During an interview, he affirmed that the work will be different from what he is used to, but that the bigger the problems, the more you need talent.

The whole project is set to be open source, so the upgrades made by them can be used for others interested in Bitcoin as well.

Square Crypto Is Building Its Team

Corallo was just the newest addition to the company created by Jack Dorsey. Since the announcement of the initiative back in March, many people have been wondering who would be working on it.

The goal of the startup is to create a small but good team that will have a single designer and some software engineers.

Before him, Steve Lee was hired. He worked as a Google director previously and was hired to lead the new team. At the time, he affirmed that the team would be focused on creating the technology that could complement Bitcoin and make it more efficient and mainstream.

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Author: Lorraine Mburu

Ecash Creator David Chaum To Launch New Quantum-Resistant Crypto Called Praxxis

David Chaum, a pioneer in the crypto world, has recently decided to launch a new cryptocurrency called Praxxis. According to him, Praxxis will be a token that will follow his original vision for digital money.

He affirmed that the new project is set to have upgraded security and be quicker and more scalable than the other cryptos in the market. The idea is, like Bitcoin’s main goal, to replace cash. Chaum was recently interviewed by The Block Crypto and revealed more details about the asset.

He affirmed that it is based on the Elixxir blockchain and that it will also follow Satoshi Nakamoto’s vision of cryptocurrencies. He believes that Bitcoin is a great way to store value, but it is currently missing some key features in order to be used properly as cash. His goal is to create a currency that can fully satisfy scalability, decentralization and security.

This new protocol is also set to be “quantum-resistant”, meaning that even quantum computers will not be able to hack it. This is the kind of threat that many people are already predicting that the future will bring, so it is certainly a good idea.

At the moment, the new revolutionary currency is being backed by private investors. However, a token sale will probably happen whenever the protocol is finally ready.

The Father of Digital Currencies

David Chaum is the real father of all digital currencies. While the figure nicknamed as Satoshi Nakamoto created Bitcoin and ushered us into the current era of crypto, Chaum was the first to come up with Ecash back in 1982.

He started a company to create it in 1990, only to went bankrupt in 1998. The idea of Ecash inspired Satoshi and led to the creation of Bitcoin.

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Author: Hank Klinger

Rokkex Exchange To Enhance Crypto Asset Security By Using Ledger Vault

Rokkex, a crypto exchange based in Estonia, has recently started a new partnership with the French Ledger wallet, which is known for its popular hardware wallets. The company will now integrate its services with Ledger’s wallet for enterprises: Ledger Vault.

The vault will be used to secure the assets of the company with highly advanced security measures.

The Estonian company was created last year as a fully regulated platform, so it will have wealthy clients that will want to protect their assets. According to the founder and CEO of Rokkex, Lukas Krikstaponis, the first tests with the technology were very successful. The head of Ledger Vault, Demetrios Skalkotos, has affirmed that they can provide full transparency and protection from attacks.

By using this product, the clients will retain full access but they will have additional protections such as cold storage and other guarantees. This is important because several exchanges have been hacked recently, meaning that security is now more important than ever. Many exchanges try to secure the assets themselves and

Ledger Wallet was first launched in May 2018 to be used as a security tool that could target institutional investors.

The product has a structure that helps most companies because it works with multiple authorizations, meaning that its governance infrastructure can be used by institutions that share the assets with different investors.

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Author: Gabriel Machado

Israeli Crypto Traders Fight Bank Lockouts with a Freedom of Information Petition

Several Bitcoin and crypto traders of Israel are facing a problem with banks right now. Many banks are not very sympathetic with crypto traders and are closing their accounts. This has prompted several of them to start a series of lawsuits against the banking institutions, the Globes has recently reported.

The problems are pretty varied. Some people have tried to pay their crypto taxes, only to find that the banks do not accept their payments. Others have lost their accounts or were blocked from opening one.

According to the investors, the national central bank, the Bank of Israel, is not helping either. The bank is said to be protecting banks affirming that their policies to block customers or not are a “commercial secret”, so traders have nobody to turn to.

Jonathan Klinger, the legal advisor of the Bitcoin Association in the country, affirms that the institution started to take action against banks because the regulators seem to be completely ignoring the traders and their problems.

Now, a lawsuit is in place and the main target is the Union Bank of Israel. The bank, according to the petition, has refused to accept crypto clients without even examining the circumstances. If you deal with Bitcoin in any way, you are likely to be cut out of the banking system of Israel.

The Bitcoin Association does not trade BTC, but it was also denied the opportunity to open up an account only because of its promotional relationship with cryptos. The reason for that? Well, it has Bitcoin on its name.

The problem is so big that the government is expected to lose $85 million USD in taxes because of it and even in this case nobody actually seems to care enough.

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Author: Hank Klinger

More Than Five Million Thai Merchants Can Accept Zcoin Payments Now

Zcoin, privacy crypto, can now be used by several merchants in Thailand. With the help of the new QR code system created by the Satang App, these merchants can start receiving the assets.

The announcement was made this week and it will see 50 million the users of the Satang App now connected with these merchants. To use Zcoin, they just need to have it in their balances and then scan the QR codes, meaning that they can make the payments offline as well.

All the transactions settled via this system will be paid in the local fiat currency to the merchants, which makes the life of the people using crypto to buy them much easier.

This, the company believes, solves what is often considered the main problem that merchants have with crypto. They consider these assets to be too volatile and believe that they need something more stable. Some people use stablecoins for that, but Satang App decided to use this system, as it lets people use a privacy coin and the merchants to receive in fiat currency.

In related news, the Zcoin team has recently decided to donate $24,000 USD to the Binance Charity Foundation. The funds will be used in order to support the children and teachers of a school in Kampala. Binance Charity is a program that is used to help children in vulnerable situations in Africa.

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Author: Gabriel Machado

Major Crypto Exchange From South Korea, Coinone, Shares Official Checklist for New Coin Listings

The third-largest crypto exchange of South Korea, Coinone, has decided to create a set of criteria for the company that wants to let people trade their tokens on the platform.

This decision was announced soon after the exchange made a partnership with CertiK, a local company that will now be responsible for security validation in the network.

Now, all candidates for listing on the platform will have to ensure that they follow a total of nine criteria before they are allowed into Coinone.

Some of these criteria will take into account things such as a good business model, long-term strategy and vision, distribution plans, transparency, marketing plans and more. Basically, only great investments will be allowed in the platform moving forward.

All potential tokens will be reviewed and the team behind the protocol will be taken into account as well when determining if they are good enough.

Non-compliant Tokens Will Be Delisted

If a token is not compliant with the rules, it will end up being delisted. For instance, if the quality of the protocol goes down or if the companies lack transparency or engage in market manipulation, they will be delisted. Any involvement with criminal activity will be the reason for an instant ban. Blockchain failures and other technical problems will be also taken into account.

Whenever a token is failing at one of these instances, it will be warned once. If the company is not improving on the matter that caused the trouble in the first place, then the delisting will happen sometime after the company was first warned.

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Author: Bitcoin Exchange Guide News Team

Poloniex Will Delist Over 20 Individual Trading Pairs Due to Low Volume and Demand

The crypto exchange Poloniex, which is owned by Circle and based in San Francisco, is about to remove the total of 23 trading pairs from its list of assets. The reason for the change is that the crypto exchange has deemed that these trading pairs have a very low volume, so it is not worth to keep them around.

Curiously, none of the trading pairs is paired against Bitcoin. They are all traded against Monero (XMR), Ethereum (ETH), Tether (USDT) and only one with USD Coin (USDC). You can check the complete list of assets here.

Not The First Time Assets Are Delisted

This is not the first time that the Circle-owned exchange decides to delist assets. The last time this happened, on May 29, several assets have been completely removed from the platform, not only trading pairs. The assets were Bytecoin (BCN), GameCredits (GAME), Lisk (LSK), Augur (REP), Ardor (ARDR), Decred (DCR), Gas (GAS), Omni Layer (OMNI) and Nxt (NXT).

You may have heard of these assets. The main reason for delisting was not really low volume but regulatory uncertainty. The company is U. S.-based and most of the assets were created via Initial Coin Offerings (ICOs), which are not fully legal in the country. This meant that even somewhat famous tokens such as Augur ended up being kicked from the platform.

In related news, Coinbase Pro has also started to limit some assets this month. XTZ/BTC and XTZ/USD are set to enter transfer-only mode soon, even in the supported regions of these assets. At the moment, however, no orders can be placed on the order books of the platform.

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Author: Gabriel Machado

CoinMine Secures $2.5 Million In Funding to Foster Crypto Mining Product Line

The crypto mining company CoinMine, which is focused on manufacturing crypto hardware and software, has recently announced that it was able to get $2.5 million USD its latest seed investment round. The seed round was led by M13 Ventures, Gumi Crypto, Shervin Pishevar

A representative of the company affirmed that the investment round was so successful because Coinmine One is growing 50% every month since April.

The company is always looking for the best ways of reinvesting in its miners and using the money to create a more successful business instead of pocketing it. At the moment, the company affirmed that its products are 30% more efficient with the latest upgrades.

Now, the money will be mainly used in order to hire more engineers to work with the company. They will help Coinmine One to create more interesting products and to expand its services to hobbyist-level miners, too, another segment of the market that CoinMine wants to reach.

CoinMine’s CEO Farbood Nivi affirmed that it is important to call more people to the market. Because of this, the idea is to lead these amateurs into the mining business and let them get interested and see how profitable it can be. This way, they will have more clients in the future.

At the moment, the products sold by the company can be used to mine several cryptos such as Bitcoin, Monero (XMR), Ethereum (ETH) and Zcash (ZEC).

M13 Ventures, one of the investors, affirmed that the company is focused on finding the best investments and that the product offered by CoinMine is innovative because it helps the consumers to participate in a new and exciting market.

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Author: Hank Klinger

Planned Sell-Off Causes XRP Prices To Crash By 40% On Beaxy Exchange

The crypto market is prone to manipulation. If you don’t believe it, you can just check the many examples that can be easily found. The latest one was a coordinated sell-off of Ripple’s XRP tokens on the Beaxy Exchange.

This new crypto exchange platform was just launched, but it had to suspend its activities for being targeted by manipulators. According to the reports, soon after the launch, the exchange suffering a massive XRP dump with a lot of people selling the asset at the same time.

In order to deal with this obvious market manipulation situation, Beaxy had no choice but to shut down the platform for a few days. It has been a rough start for the exchange, which was launched back in June. So far, technical issues, manipulation and the lack of infrastructure are getting in the way of the company.

Action was taken very quickly, as the abnormal volumes were pretty easy to spot. The prices tanked pretty fast and now all token wallets are frozen, so the manipulators are unable to pull their funds away from the exchange, which prevented more issues from happening.

Fortunately, the exchange will be able to identify the manipulators soon. The company had a Know Your Customer (KYC) system ready since its launch, so the people who caused the crash can be found. However, the exchange did not determine whether it will take action against the scammers or not.

Ripple, the responsible for XRP tokens, has not commented on the situation at the moment.

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Author: Bitcoin Exchange Guide News Team

PIVX And 200 Other Proof of Stake Blockchains May Be Vulnerable, Lunar Digital Assets Affirms

It seems that PIVX, a popular private transactions crypto, may be vulnerable to attacks together with 200 other chains. According to a recent report made by Lunar Digital Assets, there is a vulnerability of the system that can be currently exploited. Every chain using PIVX or its variants is possible to be attacked this way.

Basically, the attacker could exploit this specific vulnerability in order to get impossibly high staking rewards using the proof of stake system of the network.

This is not the first that this vulnerability is exploited. As soon as the PIVX devs found out about it, they rushed to fix the issue. However, another developer, BitGreen, has noticed that the problem was being exploited once more. Someone has probably figured how to undo the progress made by the team and started to use the exploit.

As soon as the developers discovered it, they notified all related companies of the bug and now PIVX is working once more to solve it and stop the attacks.

People Are Accusing the PIVX Team

The situation got heated recently after some people started to claim that the PIVX team might be behind the attacks. According to critics, the team knew of the bug and did nothing about it or failed to fix it properly.

Some others criticized the team for not having a timely response for the problem and simply standing still while the problem was still out there. This led some critics to theorize whether people from the company were exploiting the bug for money and used this inside source in a malicious way.

At the moment, the PIVX team has not explained publicly why the problem was not fixed months ago.

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Author: Bitcoin Exchange Guide News Team