Image Image Image Image Image Image Image Image Image Image Image Image

| February 20, 2019

Scroll to top

Top

Unveils Archives -

AOC Unveils ‘Green New Deal,’ and Pelosi Isn’t Wowed

February 7, 2019 |

The Green New Deal is here. Alexandria Ocasio-Cortez unveiled a resolution on Thursday that would give the US a blueprint on how to wean itself from fossil fuels and remake the American economy in the process. Sen. Ed Markey of Massachusetts is introducing a companion proposal in the Senate. As…
Newser

Southern California Edison unveils plan to prevent wildfires

February 7, 2019 |

California’s second-largest power company plans to cut down tens of thousands of trees in high-risk areas, inspect thousands of miles of power lines and consider the use of preemptive power shutoffs this year, part of a $ 582-million plan to reduce the risk of fires sparked by the utility’s infrastructure.


L.A. Times – Business

Stock Exchange of Thailand Unveils Plan to Enter the Crypto Space

January 18, 2019 |

Stock Exchange of Thailand Unveils Plans to Enter the Crypto Space

The Stock Exchange of Thailand is reportedly planning to launch a cryptocurrency exchange. The securities companies that are members of the exchange will also apply for cryptocurrency broker-dealer licenses with the country’s regulator. Thailand currently has three licensed crypto exchanges.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

SET Planning to Enter the Crypto Space

The Stock Exchange of Thailand (SET), the country’s national stock exchange, is reportedly planning to operate a cryptocurrency exchange that is separate from the stock exchange.

Stock Exchange of Thailand Unveils Plan to Enter the Crypto Space
Pakorn Peetathawatchai

Dr. Pakorn Peetathawatchai, President of the SET, revealed on Thursday that the bourse is preparing to test a digital exchange prototype in the second half of this year, Post Today reported. The Bangkok Post elaborated that the bourse aims to “open a new exchange and become an authorised digital asset exchange this year,” adding that details such as the back-office system and which wallet to use for token storage are being worked out.

Stock Exchange of Thailand Unveils Plan to Enter the Crypto Space

The news outlet reported Pattera Dilokrungthirapop, chairwoman of the Association of Securities Companies and vice-chairwoman of the SET’s board of governors, commenting:

The bourse wants to catch the growing investment trend of digital assets.

The SET is overseen by the Thai Securities and Exchange Commission (SEC) and currently operates under the legal framework laid down in “the Securities and Exchange Act, B.E. 2535 (1992),” its website details.

SET’s Members to Also Enter the Crypto Space

Dilokrungthirapop explained that the SET plans to cooperate with its members to set up the crypto exchange, noting that securities companies that are members of the SET also plan to apply for crypto broker-dealer licenses in order to trade on the SET’s new exchange. She was further quoted by the Bangkok Post as saying:

Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.

Thailand’s cryptocurrency regulation went into effect in May, installing the country’s SEC as the main regulator of the crypto industry. The finance ministry has the authority to issue licenses to businesses wanting to operate crypto businesses.

Stock Exchange of Thailand Unveils Plan to Enter the Crypto Space

The ministry recently issued licenses to four cryptocurrency companies. Three of them are exchanges: Bitcoin Exchange Co. Ltd. (Bx), Bitkub Online Co. Ltd. (Bitkub), and Satang Corporation (Satang Pro). Coins Th Co. Ltd. is the only broker-dealer licensed. Meanwhile, three crypto exchanges have been rejected: Coin Asset Co. Ltd., Cash2coin Co. Ltd. and Southeast Asia Digital Exchange Co. Ltd. (Seadex).

What do you think of the Stock Exchange of Thailand entering the crypto space along with its brokers and dealers? Let us know in the comments section below.


Images courtesy of Shutterstock and the Thai SET.


Need to calculate your bitcoin holdings? Check our tools section.

The post Stock Exchange of Thailand Unveils Plan to Enter the Crypto Space appeared first on Bitcoin News.

Bitcoin News

BCH Developer Unveils Xthinner Scaling Protocol – Claims to Compress Blocks by 99%

January 14, 2019 |

BCH Developer Unveils Xthinner Scaling Protocol - Claims to Compress Blocks by 99%

On Sunday, Bitcoin Cash (BCH) developer Jonathan Toomim unveiled a project he’s been working on called Xthinner, a new block propagation protocol that leverages the benefits of lexicographic transaction ordering (LTOR). According to Toomim’s data, Xthinner can compress blocks by 99.6 percent and performs roughly 4x to 6x more efficiently than block propagation concepts like Compact Blocks and Xthin.

Also read: Venezuelan BCH Proponents Bolster Cryptocurrency Use Cases and Adoption

Xthinner Could Compress Blocks by More Than 99%

BCH Developer Unveils Xthinner Scaling Protocol – Claims to Compress Blocks by 99%
Bitcoin Cash developer and miner Jonathan Toomim.

Miner and programmer Jonathan Toomim has announced a new block propagation program he’s been working on recently. Toomim first discussed his new concept called Xthinner this past September, in order to exemplify the advantages of the Bitcoin Cash network’s lexical transaction ordering system often referred to as LTOR. In the developer’s recent Medium post, Toomin shows how Xthinner thinned out blocks significantly utilizing “this one weird trick.” On Sunday, Jan. 13, Toomim unveiled his project to the BCH community on Reddit and explained that Xthinner can handle strenuous network conditions.        

“Xthinner is a new block propagation protocol which I have been working on that takes advantage of LTOR to give about 99.6% compression for blocks, as long as all of the transactions in the block were previously transmitted,” Toomim detailed on the Reddit forum r/btc. “That’s about 13 bits (1.6 bytes) per transaction — Xthinner is designed to be fault-tolerant, and to handle situations in which the sender and receiver’s mempools are not well synchronized with gracefully degrading performance.”

Toomim’s analysis further explains that if each transaction was around 400 bytes and the block was 500MB, it could be encoded into 1.9MB of data or a “99.618% reduction in size.” Interestingly, the Bitcoin Core (BTC) and Bitcoin Satoshi’s Vision (BSV) networks cannot utilize the Xthinner concept. Toomim explained that both protocols would need to upgrade in order to reap the protocol’s compression benefits. “BTC also lacks CTOR/LTOR, which means [it] won’t work as well and would require substantial modifications to work at all,” Toomim remarked on the forum. The BSV network does not have lexicographic transaction ordering capabilities either, making Xthinner unobtainable to BSV developers.

BCH Developer Unveils Xthinner Scaling Protocol – Claims to Compress Blocks by 99%
Toomin hopes in time fellow developers will enable the Xthinner protocol by default in either ABC and/or BU implementations.

Blocktorrent: Breaking Blocks Down Into Fractions of Independently Verifiable Chunks of Data 

Toomim also detailed that once he’s finished Xthinner he intends to develop his project Blocktrorrent. As the name suggests, Blocktorrent leverages similar transmission techniques to the Bittorrent protocol. The developer detailed that Blocktorrent breaks blocks down into fractions (1500 bytes) of independently verifiable chunks for transmission. Toomim emphasized that just like Bittorrent was much faster than centralized services like Napster, Blocktorrent should outpace Xthinner’s performance. The Blocktorrent system will give nodes the ability to forward each IP packet shortly after that packet was received.        

“This should dramatically improve the bandwidth utilization efficiency of nodes during block propagation, and should reduce the block propagation latency for reaching the full network quite a lot — my current estimate is about 10x improvement over Xthinner,” Toomim added.

The BCH community seemed very pleased with Toomim’s Xthinner and Blocktorrent announcement as it quickly became one of the hottest posts on the forum. Over the last 24 hours, enthusiasts and fellow developers have been discussing the merits, trade-offs, and possibilities afforded by Toomim’s latest projects.


Image credits: Twitter, and Shutterstock.


Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.

The post BCH Developer Unveils Xthinner Scaling Protocol – Claims to Compress Blocks by 99% appeared first on Bitcoin News.

Bitcoin News

Ledger Unveils Bluetooth-Enabled Hardware Wallet

January 7, 2019 |

Ledger Unveils Bluetooth-Enabled Hardware Wallet

Hardware wallet manufacturer Ledger has unveiled its newest cryptocurrency wallet. The Ledger Nano X is Bluetooth-enabled and can hold up to 100 different cryptocurrencies at a time. A mobile app is also being launched for both iOS and Android to pair the device to smartphones.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Newest Ledger Wallet

Ledger Unveils Bluetooth-Enabled Hardware WalletLedger unveiled its new cryptocurrency hardware wallet on Sunday at the annual Consumer Electronics Show (CES) in Las Vegas. The company then wrote on its website on Monday:

The Ledger Nano X is Bluetooth enabled. Connect it to your smartphone with Ledger Live Mobile app and safely transact anywhere. All Bluetooth communications are encrypted end-to-end to protect against any security threat.

Ledger Unveils Bluetooth-Enabled Hardware WalletThe new wallet has been redesigned and can be pre-ordered starting on Monday. It is priced at $ 119 and is expected to start shipping in March. The company will also launch a mobile app, the Ledger Live Mobile, for both iOS and Android platforms.

The Nano X joins Ledger’s two existing consumer hardware wallets: the Nano S and the Ledger Blue. The former currently retails for $ 59 and the latter $ 269.99. The company claims in its Monday’s announcement that over 1.5 million Ledger Nano S devices have been sold worldwide. The Nano X is only available in one color at present while the Nano S comes in six colors.

About Ledger Nano X

According to Ledger, up to 100 cryptocurrency apps can be installed on the Nano X at the same time. The device also supports over 1,100 assets with more to be added each month. In comparison, the Nano S can simultaneously run up to 18 cryptocurrency applications with support for only 40 assets in total.

Ledger Unveils Bluetooth-Enabled Hardware Wallet
Ledger Nano X

Unlike its predecessor which draws power through a USB cable, the Nano X has a 100mAh built-in battery to power it for wireless use. Several security improvements are listed on Ledger’s website for the latest model, and the company explained that private keys stored on the new device are isolated inside its EAL5+ certified secure storage chip.

With dimensions of 72mm x 18.6mm x 11.75mm, the Nano X is shorter but slightly wider than the Nano S which measures 98mm x 18mm x 9mm. However, at 34g, it is over twice as heavy as the Nano S which weighs 16.2g, Ledger’s website details.

Ledger Unveils Bluetooth-Enabled Hardware Wallet

Navigation on the new model is also improved due to its larger, round buttons on the face of the device compared to two small buttons located at the top of the Nano S. Ledger further described that the new device has “Bigger screen for an improved experience.”

In addition to the wallet itself, the Nano X will come with a USB cable, a getting started leaflet and a recovery sheet.

Ledger Unveils Bluetooth-Enabled Hardware Wallet

What do you think of the Ledger Nano X? Let us know in the comments section below.


Images courtesy of Shutterstock and Ledger.


Need to calculate your bitcoin holdings? Check our tools section.

The post Ledger Unveils Bluetooth-Enabled Hardware Wallet appeared first on Bitcoin News.

Bitcoin News

Japan Unveils Plans to Regulate Initial Coin Offerings

December 3, 2018 |

Japan Unveils Plans to Regulate Initial Coin Offerings

Japan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Registrations and Law Changes

The Financial Services Agency (FSA), Japan’s top financial regulator, “is set to launch regulations on initial coin offerings [ICOs],” Jiji Press wrote on Saturday. Sources told the news outlet:

The FSA will require business operators that issue their own
cryptocurrencies to be registered with the agency.

Japan Unveils Plans to Regulate Initial Coin OfferingsJapan’s amended Payment Services Act requires cryptocurrency operators to register with the FSA. However, ICOs are currently not covered within the scope of this act.

Jiji Press also reported that, in order to “introduce the [ICO] regulations,” the agency “plans to submit bills to revise the financial instruments and exchange law and the payment services law to next year’s ordinary parliamentary session starting in January.”

FSA’s ICO Discussions

The FSA has been holding study group meetings to discuss how to best regulate token sales. The agency has stated that ICOs are not prohibited but acknowledged that many of them are fraudulent. In March, Satis Group published a report which claims that 78 percent of ICOs are scams.

Sources told Jiji Press:

In view of a number of possibly fraudulent ICO cases abroad, the financial regulator plans to limit individuals’ investment in ICOs for better protecting them.

Japan Unveils Plans to Regulate Initial Coin OfferingsWhile Japan currently does not have a specific law for ICOs, two existing laws may apply to them based on how they are structured, the FSA previously explained. The first applicable law is the Payment Services Act. The other is the Financial Instruments and Exchange Act which provides a regulatory framework for securities and securities companies in Japan.

At the latest meeting on ICO regulation held on Nov. 28, the FSA discussed additional areas it plans to regulate.

Japan Unveils Plans to Regulate Initial Coin OfferingsSome ICOs will be regulated under the Financial Instruments and Exchange Act.
“If an ICO has the characteristics of an investment, and the purchase of a token by a virtual currency is practically deemed equivalent to that of legal tender, the ICO becomes subject to regulations under the Financial Instruments and Exchange Act,” the regulator previously explained.

The regulation will also include disclosure requirements and measures for unfair trades. In addition, distribution channels will be regulated and token issuers will be screened to ensure adequate financial health.

What do you think of the FSA’s plans to regulate ICOs? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japan Unveils Plans to Regulate Initial Coin Offerings appeared first on Bitcoin News.

Bitcoin News

Pfizer Unveils New Drug Prices Despite Trump Slam

November 18, 2018 |

Give it to Pfizer—they waited a while. The pharmaceutical giant is raising the price of 41 prescription drugs after hitting the pause button this summer when President Trump opposed a price hike, reports CNBC . Most prices are slated to rise 5%, while Stocks Beat says the pain drug Lyrica…
Newser

Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet Services

November 16, 2018 |

Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet Services

Japan’s top financial regulator, the Financial Services Agency, has unveiled a plan to regulate cryptocurrency wallet services. The regulator has put forward a number of regulatory measures as well as proposing how to implement them.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

The Plan

Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet ServicesThe Financial Services Agency (FSA) held its ninth cryptocurrency study group meeting on Monday. According to the agency’s published meeting materials, one of the main topics on the agenda was a plan to regulate crypto wallet services and their providers.

Currently, Japan’s fund settlement law requires businesses conducting cryptocurrency-related activities in the country, such as buying and selling, to register as crypto exchanges with the FSA.

“Wallets are like bank accounts that store virtual currencies,” Itmedia publication elaborated. While wallet service providers “handle large amounts of virtual currencies like exchange companies,” the publication noted that “they are not targeted by laws and regulations.”

The FSA explained that the current law does not apply to wallet service providers since they do not buy or sell cryptocurrencies — they merely manage and transfer them for customers. However, since they manage payments, the agency believes that financial regulation is necessary.

Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet ServicesThe plan unveiled at the meeting focuses on service providers — not software wallet developers or hardware wallet manufacturers. Many wallets exist only as code and are without identified leadership or companies behind them.

The regulations for wallet services will be in line with the international standards for preventing money laundering and terrorism financing set by the Financial Action Task Force (FATF), the FSA detailed. The agency wrote that the “revised FATF standards” must be imposed, including their recommendations relating to crypto exchanges, wallet service providers, and initial coin offering issuers.

The Implementation

The group proceeded to discuss the risks associated with wallet services, such as stolen funds during cyber attacks, wallet failures, money laundering, and other risks shared by crypto exchanges.

Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet ServicesPossible regulatory measures include the maintenance of internal control systems, separate management of cryptocurrencies belonging to the service providers and customers, audits of financial statements, publication of policies in the event of stolen funds in a hack and retaining funds to repay customers.

The transition period for introducing wallet regulations was also discussed. During this time, service providers would not be able to add new businesses, customers, or coins supported. In addition, they must post notices on their websites regarding their registration status. Those refusing to register must declare on their websites and “indicate that the business will be abolished,” according to the meeting document.

What do you think of Japan planning to regulate crypto wallet services? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet Services appeared first on Bitcoin News.

Bitcoin News

Trump Unveils Plan to Lower Drug Prices

October 25, 2018 |

Less than two weeks before the midterm elections, in which health care has been a major issue, President Donald Trump on Thursday announced a plan to lower prices for some prescription drugs, the AP reports, saying it would stop unfair practices that force Americans to pay higher prices than people…
Newser

The Daily: Huobi Unveils HUSD, New Cryptocurrency Loans Launch

October 20, 2018 |

It’s been a week for stablecoin stories in the crypto sphere, and while we’d like to have started the weekend on a different tack, Huobi’s effort was too intriguing not to share. We’ll also detail the latest cryptocurrency lending options in Saturday’s edition of The Daily and consider a topical Halloween costume for bitcoiners.

Also read: Bitcoin Cash Merchant Directory Marco Coino Surpasses 500 Listings

Stablecoins Get Meta With HUSD

Stablecoin mania is spreading, and now it’s starting to get meta. Huobi, the world’s second-largest exchange by trading volume, has announced the launch of HUSD. This isn’t technically a stablecoin though: it’s an integrated solution that contains multiple stablecoins. The aim is to save traders from having to choose between multiple pegged coins. Many exchanges, Huobi included, now list numerous stablecoins which are often paired against one another.

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Huobi explained: “When you deposit any kind of stablecoins, they will be shown as HUSD in your account. You may withdraw any kind of stablecoin … For example, when you deposit 1 PAX, it will show as 1 HUSD in your account, and you can withdraw 1 TUSD.” Given that stablecoins can generally be relied on to adhere to the U.S. dollar, the solution ought to save hassle for Huobi and its customers alike. Initially, PAX, TUSD, USDC, and GUSD will be incorporated under the HUSD umbrella. The Singapore-based exchange finished:

We look forward to more stablecoins being involved in the HUSD system. Concurrently, we will evaluate the existing stablecoins in the HUSD system on a real time basis, if the stablecoin doesn’t meet the corresponding risk control standard, we will remove it.

Salt Expands Cryptocurrency Loans

The number of cryptocurrencies that can be used as collateral is growing. “Very Lending, Much Liquidity,” read the email Salt used to introduce its latest altcoin lending option. Cryptocurrency users can now deploy DOGE as collateral, along with BTC, ETH and LTC, and obtain a loan starting from $ 5,000. Crypto-fiat loans can be obtained for between one and 36 months, with an APR that starts at around six percent.

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Crypto Twitter Goes NPC

The non-player character (NPC) meme has been inescapable this week, and it only seems fitting to sign off with crypto Twitter’s take. Cryptocurrency factions never need much prompting to dehumanize and goad one another, and it was inevitable that the NPC meme, which depicts opponents as programmatic non-entities, would catch on. One Twitter user has proposed a bitcoin-themed Halloween costume, accompanied by the sort of stock insult that an NPC might utter:

The Daily: Huobi Introduces HUSD, New Cryptocurrency Loans Launch

Meanwhile, a visitor to Ripple’s headquarters joked that some NPC programming may have been taking place:

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock, Huobi, Salt, and Twitter.


Need to calculate your bitcoin holdings? Check our tools section.

The post The Daily: Huobi Unveils HUSD, New Cryptocurrency Loans Launch appeared first on Bitcoin News.

Bitcoin News