Welcome to the Daily Cryptocurrency News Roundup 8th Nov, 2017 edition.
Find the most important news of the day in brief with insights. Moreover, subscribe us to stay informed.
#1 Bitcoinist – Five promising ICOs to watch out in november
- GLADIUS – Specializes in decentralized bandwidth sharing and content delivery networks (CDNs). Gladius’ ICO begins on November 1 and can be found on their website.
- INDAHASH – Online marketing through the help of blockchain. IndaHash’s pre-ICO will begin on November 8 and run for a week. Only registered parties are allowed to participate, so interested investors should begin the process now.
- CANYA – P2P services at low cost. CanYa’s ICO can be accessed via their website and begins on November 15.
- BITCLAVE – A search engine that aims to give control to its users. BitClave’s crowdsale begins November 8 and ends on December 8. Details can be found on their website.
- CONFIDEAL – Is creating a platform that helps the average user to create, manage, and enforce smart contracts. The platform is set up in such a way that users with no coding skills or software programming skills are able to create effective smart contracts. Confideal’s ICO runs from November 2 through November 22. Further information can be found on Confideal’s website.
#2 CryptocoinsNews – Open Trading Network Utilizes a Decentralized Exchange to Connect Different Blockchains
- The Open Trading Network, which was created in partnership with the trading business IQ Option, operates a crypto exchange platform within a decentralized trustless network without a central hub in a quick, secure and transparent manner.
- The Open Trading Network also operates a universal wallet service where users can store all of their different cryptocurrencies in one place and can get informed about which is the best cryptocurrency to pay for a particular purchase, along with converting the coins through the Open Trading Network.
- he Open Trading Network’s platform will serve for the tokenization of real world and crypto assets with the capabilities of fully insured inter-network exchanges. All this, in a decentralized manner.
#3 NewsBTC – IBM Plans to Utilize Blockchain for Marijuana Distribution in Canada
- IBM is heavily invested in the blockchain space and offers a commercial platform for companies and developers wanting to experiment and work with the technology.
- Canada is preparing for a country-wide legalization of marijuana next year. IBM is consulting with British Columbia as the state gears up for the production and distribution of cannabis.
- As a result, marijuana-based altcoins such as Potcoin surged in reaction to the news yesterday. There are a couple more cannabis-based altcoins such as Hempcoin (THC), Cannacoin (CCN), and Cannabiscoin (CANN) – all have seen a price spikes.
#4 CryptocoinsNews – No Ban? Malaysia’s Securities Watchdog Plans Cryptocurrency Regulation
- Speaking to reporters on the sidelines of the FinTech conference, Ranjit stated: “The interest level and demand for cryptocurrency is on the rise and it is important for the regulators to acknowledge and embrace this trend…We hope to be able to have it [regulations]in a few months, but I am hesitating to give a specific timeframe.”
- The move toward regulations will come as a relief for the country’s cryptocurrency traders, both retail and institutional after the central bank refused to rule out a blanket ban on cryptocurrencies less than a month ago.
#5 Coindesk – Ethereum Client Bug Freezes User Funds as Fallout Remains Uncertain
- An unknown amount of user funds on the ethereum network have been frozen due to a code issue with the Parity wallet software.
- The security vulnerability which activated the freeze was found yesterday in ethereum’s second most popular client by a developer going by the name “devopps199,” who reported it on GitHub.
- The vulnerability affects any Parity wallet deployed after July 20 that uses the company’s “multi-signature” functionality. Under a multi-signature arrangement, more than one key is required to initiate and broadcast transactions.
#6 Coindesk – CME Group’s Leo Melamed: We’ll ‘Tame’ Bitcoin
- One of the senior figures at derivatives giant CME Group believes that bitcoin is on course to become its own tradable asset class.
- In an interview with Reuters on Tuesday, the company’s chairman emeritus Leo Melamed said bitcoin will likely come to trade in a similar way to how gold and stocks are exchanged today.
- Notably, CME Group last week announced plans to launch a bitcoin futures contract, aiming to have the product available by the end of the year. The product is still contingent on approval from the U.S. Securities and Exchange Commission, the firm indicated at the time.
#7 Coindesk – Bitcoin’s Bogeyman Cometh: Why Segwit2x Is a 51% Attack
- The 2x fork will create a situation where transactions performed on one fork, can be “replayed” on the second fork. In effect, users will have funds on both blockchains, but any transaction they perform on one blockchain could lead to a loss of funds on the other blockchain. Replay protection is a fairly easy-to-implement method to protect users from this risk.
- Network attacks are those actions taken with the intention of disrupting the protocol’s normal functioning. The 2x change, bereft of replay protection, causes massive disruption. This is by design.
#8 The Cointelegraph – SegWit2x Hard Fork Could Have Devastating Consequences for Bitcoin
- The upcoming SegWit2x fork could generate a black swan event for Bitcoin; that is to say, there is a small chance that the fork could have enormous repercussions. The idea of a “black swan event” was coined by author Nassim Nicholas Taleb to explain:
“The disproportionate role of high-profile, hard-to-predict and rare events that are beyond the realm of normal expectations.”
SegWit2x could be just such an event, particularly because the market seems so complacent right now. Despite soon facing an incredibly contentious hard fork with possibly terrific consequences, Bitcoin price remains just below its all-time high.
#9 CryptocoinsNews – Deutsche Bank: ‘End of Fiat Money’ May Be Near
- As Business Insider reports, Deutsche Bank strategist Jim Reid envisions that the current fiat monetary system could begin to collapse within the next decade, creating a climate that would encourage the rise of an alternative currency system.
#10 BitcoinExchangeGuide – Ethereum Creator Vitalik Buterin Says Over 90% ‘Tokens 1.0’ ICOs Will Fail
- “It is an established fact that ninety percent of startups fail,” stated Buterin in response to questions from moderator William Mougayar regarding the heavy emphasis on tokens present within the blockchain ecosystem. “And it should also be an established fact that ninety-percent of these ERC20s on CoinMarketCap are going to go to zero.”
- According to Buterin, the next phase of token development- a stage he called “Tokens 2.0”, will benefit greatly from the experimental status of tokens at the current point in time. Buterin also stated that he believes tokens will gain a certain amount of maturity after the initial “Tokens 1.0” stage is over and the hype surrounding token values and investments has subsided.
#11 CryptocoinsNews – 33% of Younger Americans Plan to Invest in Ethereum: Survey
- According to a survey commissioned by student loan consolidation service LendEDU and conducted by OnePoll, American adults between the ages of 18 and 34 are much more aware of cryptocurrencies than older generations and are consequently much more likely to invest in crypto assets.
- About 32% of respondents stated that they had heard of ethereum, with 18% adding that they planned to purchase ether as an investment. Twenty-two percent said that they had heard of ripple and nearly 15% confirmed that they intended to invest in XRP, the native currency of the Ripple Consensus Ledger (RCL).
Disclaimer: This is not “investment advice.” Coin Frog does not bear any kind of liability. Moreover, always do your due diligence and form your own opinions.