Opinion

On May 12th, 2020, Telegram founder and CEO Pavel Durov announced the Telegram Open Network (TON), the messaging company's highly anticipated blockchain platform. The news that Telegram had been forced to abandon its TON project symbolized sustained pressure from regulators in the U.S to impede social media-backed cryptocurrency ventures. That said, the project's source code remains freely available on Github, so other developers can technically use it to develop their version of the Telegram Open Network. The original TON development…

In Japan, a cryptocurrency company Freessets has announced a new technology for the enhancement of Bitcoin wallet privacy. The top enterprise cryptocurrency wallet provider came up with the new technology using a protocol in cryptography known as Private Information Retrieval (PIR). The technology was implemented using a customized version of Microsoft SealPIR which is among the PIR implementations. Microsoft SealPIR uses Microsoft SEAL, which is an entirely homomorphic encryption library. Based on the announcement on June 8, it is now possible for…

Technically, the performance of Ethereum has recently been relatively dull, with bulls striving to gather any remarkable uptrend as the cryptocurrency asset closely tracks the performance of Bitcoin. A data metric reveals investors’ heavy accumulation when ETH incurred a recent downturn. Hence, they have gained profit which has attained a historical area of barrier, as 80 percent of ETH’s supply is now in a state of profitability. Analytics platform Glassnode noted that 80 percent of the aggregated ETH supply is currently profitable.…

The impact of the outage that ensued on Coinbase platform on June 1 affected Coinbase.com, pro.coinbase.com, as well as their mobile applications. On June 6, Coinbase released a post mortem regarding the outage that happened just as Bitcoin attained $10k price level. The exchange noted that trading through the API which accounts for the majority of trading volume, remained functional throughout this time. They were quick to discover what caused it and remediated the issue. In the blog post, the US-based…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $274 billion Bitcoin jumped to almost $10,500 mid-week but slumped back to $9,400 support Ethereum is pushing against the $245 resistance level for another week XRP falls below $0.20 and loses (again) its 3rd position in the market cap table to Tether Cardano surprises the market with a spectacular increase of 35% Most legacy…

The performance of Bitcoin received a boost on June 1 as it incurred an upside momentum that led to a rally from $9.5k to a high of $10.4k, representing a $900 gain in a few hours. After such a move, analysts flipped bullish on the benchmark asset. Some market participants were expecting Bitcoin to slip following such a powerful breakout. Based on the expectations of a few traders, it slipped as it traded against the sentiment of the majority. It…

A ransomware known as Tycoon was discovered by security researchers from the BlackBerry’s security unit and it utilizes a little-known Java file format that makes its detection more difficult prior to detonating its file-encrypting payload. The aim of the ransomware's operators is to request a ransom in cryptocurrency after the successful attack. However, a solution has been provided as Emsisoft introduced a free tool for decrypting files impacted by a variant of the Tycoon ransomware attack. The free tool for decryption was…

The performance of XRP over the previous couple of years has been woeful. However, it seems it is ready to keep underperforming, as analysts are saying that it is on the verge of incurring a fresh breakdown because it is hovering over a crucial support level. However, XRP is technically weak as it is revealing signs of recording heightened social activity from investors across social media platforms. The surge in social activity tends to have correlations with uptrends and this…

Ethereum incurred a serious rejection on June 2 after it broke out above $250. Within some minutes, the cryptocurrency asset declined from over $250 to $225, even as Bitcoin declined on leading exchanges. In spite of this powerful decline, analysts still believe buyers are in control of the asset. When the asset’s retracement ensued, a renowned trader known as BigCheds on Twitter said Ethereum is still above crucial support levels. https://twitter.com/BigCheds/status/1268281308259790849 The chart attached to his tweet shows that the performance of…