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Recently, the EOS nation and Attic club block producers proposed a Worker Proposal System (WPS) for the EOS delegated Proof-of-Stake blockchain. The scheme would enable individuals to suggest how the EOS blockchain opt to operate.  To send a proposal, a user must transfer a non-refundable amount of 100 EOS to support the WPS mechanism’s operations. The user has to make 50000 EOS available for 60 days, and currently, the smart contract for this proposal is ready for testing. Eventually, all…

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 $155 billion. Bitcoin value crashes by 30%, reaches $4,185 before rising above $5,000 again. Ethereum loses almost 50% of its value and now trades at a little over $126 XRP trades as low as $0.11 mid-week before recovering at $0.15 on Sunday The stock and equity markets experience new historic lows since the 2008…

For around five years, the People’s Bank of China (PBoC) has been working on a digital coin. The central bank’s fiat reserve will back the Central Bank Digital Currency (CBDC), and its value pegged to the Yuan value.  Although the government of China announced its plans to develop the digital yuan in 2014, Facebook’s announcement of the launch of Libra was the propelling factor. The central bank says that the digital coin is near completion but hasn’t given any prospective…

Cryptocurrency is a digital currency managed by using one of the most advanced encryption techniques called cryptography. Bitcoin (BTC) is the first-ever cryptocurrency that came into existence in 2009 but captured the public's attention in 2013. Cryptocurrency has several merits over conventional currency technology - they have a massive potential for returns, fraud-proof, no identity theft, fast processing, and lower transaction fees. Despite these advantages, most governments are against the use of cryptocurrencies. In this article, I will discuss some…

Recently, CipherTrace released a detailed analysis of how two Chinese nationals laundered stolen crypto through various banks and crypto exchanges.  The two Chinese national hackers are Tian Yinyin and Li Jidong. The two hackers got charged with money laundering conspiracy and operating an unlicensed money transmitting business by the US Department of Justice. The Technique Used to Carry out the Fraud as per CipherTrace CipherTrace reported that the two Chinese hackers used a technique known as ‘peel chains’ to hide…

According to a local news report, two Italian high schools will start offering diplomas on Ethereum’s blockchain public technology. The digital diplomas will be easily shareable and unchangeable. The two institutions to offer digital diplomas are the International high schools of Villa Flaminia, in Rome, and the Institute of Higher Education “M. Ciliberto- A. Lucifero”, in Crotone. The first institution will depend on the EY company’s blockchain-based system, while the latter partnered with Blockchain Italia. How the Proposal is Beneficial…

The covid-19 pandemic is negatively affecting crypto market prices and disrupting many crypto conferences, as many industry players fell sick.  Ater Zhen Yu Yong announced contracting Covid-19 after attending the Ethereum Conference, six more cases from the conference got reported. In this case, seven great developers from the Ethereum Community contracted Covid-19 after participating in the Ethereum Conference that occurred on the 3rd to the 5th of March. After Zhen disclosed his Covid-19 status, he encouraged everyone from the Ethereum…

The Lightning Network is significantly dropping, as reported by the Defi Pulse on the 14th of March.  Charts are indicating the total value locked (TVL) in Lightning Network, revealed an over 2-day period drop. The figure dropped to $4.30m on the 13th of March, from $7.073m the previous day, and thus a decline of about 65% in a day. Bitcoin’s crash accelerated the most long-short liquidations on BitMEX in 16 months. Bitcoin dropped from $7200 to a low of $5675…

Turing completeness is the ability of any system to stimulate other Turing complete machines. Simply put, a stimulation, when configured with specific instructions, could function on its own without outside/external interference. Qixcoin was the first cryptocurrency to feature in its source code a Turing complete mechanism. The mechanism allowed for the continuous embedding of verification that could function without third-party arbitration. It didn't take long for this innovation to pick up. Vitalik Buterin described a derivative of this mechanism that…