Fri, Jul 31, 2020 10:10 PM by Sumit Bera

Weekly Crypto News — July, 31

Crypto weekly News

Coins, Tokens 

📌 Bitcoin is still doing great. The crypto industry is marked by new trading volume records. Even though the intensity is lower than on the previous days, today more than 70% of the first 100 crypto assets are in green. Meanwhile, the US dollar continues to lose ground depreciating by more than 10% since March.

📌 The assets released on the Ethereum blockchain have become the most profitable this year. The average profit among 178 assets in 2020 was almost 130%. The total capitalization of these tokens has grown to $63.7 billion, which is about 20% of the total size of the cryptocurrency market.

📌 By the way, July 30th was an important birthday in the world of blockchains, because 5 years ago the Ethereum blockchain came to life with the release of the first version of the project.

📌 The founder of the Cardano blockchain project Charles Hoskinson announced the transition of the main network to an updated version of Shelley. After the hard fork, there is a staking opportunity for all community members. Hoskinson expressed confidence that hundreds of assets and decentralized applications will be deployed on the Cardano blockchain in a year.



📌 The Blockchain-based Service Network (BSN) from the Chinese State Information Center plans to add support for 100 public networks within a year. The project's whitepaper states that BSN will act as the "Internet of blockchains". There is already information about BSN support for such networks as Ethereum, EOS, Tezos, NEO, Nervos, and IRISnet.

📌 Nestlé is using blockchain technology for its complex supply chain. As a key component of the supermarket supply chain, Nestlé has a responsibility to maintain very high standards. This is why the company is investing heavily in product tracking, and blockchain is one of the technologies it is implementing.


Projects, Startups

📌 The investment platform eToro plans to launch its own debit cards. The first owners will be eToro Club members from the UK. The card planned to be issued will provide instant receipt and withdrawal of funds. eToro notes that this way the platform's clients will have an additional way to withdraw their profits to fiat.

📌 The IOTA Foundation publishes the backbone for a new Chrysalis wallet: Stronghold. With Stronghold, the IOTA Foundation yesterday released a library of software to securely manage digital secrets such as the IOTA seeds in Chrysalis' new wallet. Stronghold can also be used independently of the IOTA cryptocurrency and can be integrated into a specific client's hardware.

📌 In 2018, Kodak announced a new project related to their own cryptocurrency, KODAKCoin. The company seemed to have reached the end of its journey in the business world, but this project seemed to revive it. For example, the value of its stock fell, reaching a low of $1.7 during the financial market crash in mid-March 2020. However, on Tuesday, it rose 1.140% in two days. The reason for the jump is that Adam Bohler (the CEO) will sign a letter of interest to provide a $765 million loan to support the launch of Kodak Pharmaceuticals, a new subsidiary of the company that will manufacture key pharmaceutical ingredients.

📌 Japanese exchange bitFlyer and the developers of the privacy-focused browser Brave are planning to introduce a wallet for BAT tokens in November 2020. The partners announced that they were collaborating on a solution that will allow Brave users in Japan to receive native Brave tokens paid for viewing ads in a browser. Currently, Japanese users do not have this opportunity due to the regulatory rules in the country, the browser awards them points.


Hacking, Law, Cybercrimes

📌 Chinese police have arrested 27 top suspects in the PlusToken cryptocurrency pyramid. Also arrested 82 key members of the group hiding in the country and abroad. According to law enforcement officers, about 2 million people became victims of PlusToken. The total damage from the pyramid was $ 5.8 billion.

📌 Hardware wallet manufacturer Ledger has disclosed the details of a vulnerability that allowed attackers to gain access to personal information of about a million users. It turned out that on June 25, an unknown party gained access to a database containing email and postal addresses, names, phone numbers, and information about purchased Ledger products. The company assured that payment data, information about bank cards, and cryptocurrency accounts are safe. The developers noted that they fixed the vulnerability immediately after discovery.

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The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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