Blockchain Set to Stamp Out Cheating in World Chess Competition

World Chess is set to move matches online and introduce blockchain technology, after a major tournament was postponed due to the coronavirus. The 2020 Chess Candidates Tournament in Ekaterinburg, Russia has been postponed due to the coronavirus, but organizers are already looking to the future and how blockchain can give the sport a boost.  The tournament pitted eight grandmasters against each other for the right to take on world champion Magnus Carlsen, but had to be halted after seven rounds when news emerged Russia was about to suspend international flights…

Read More

Heads of Binance​.US, Ledger, and ZCoin Speak to Impact of Digital Dollar on Industry

Leaders from different corners of the crypto industry react to the sudden prospect of a digital dollar, highlighting both promise and peril for users. COVID-19 has wreaked havoc on the global economy. As legislators in the United States go back and forth on how best to distribute aid, the conversation has amplified the potential role of a digital dollar to avoid the traps of traditional finance. Whether or not ongoing stimulus efforts lead to the minting of a digital dollar, it’s a subject that is on the minds of U.S.…

Read More

Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History

Bitcoin’s hashrate has plummeted 45% since the record-breaking levels it saw on Feb. 29. The hashrate touched an all-time high of 136 exahash per second (EH/s) but has since dropped to 75 EH/s. Moreover, the crypto network has seen the second-largest difficulty drop since October 2011. Also read: While You’re Under Quarantine, Check These Sites for Remote Crypto Jobs Bitcoin Hashrate Declines 45% Since All-Time High The latest cryptoconomy price shift has capitulated a number of small mining operations and BTC’s overall hashrate has dropped 45% in 30 days. The…

Read More

Suspicions Grow During BitBay’s 18-Hour Outage

Estonian crypto exchange BitBay has now been offline for eighteen hours now, sparking concern among users. Estonia-based cryptocurrency BitBay has been offline for 18 hours now, citing problems caused by a third-party service provider. On March 26, BitBay tweeted that it was struggling with a “network problem” resulting from their “external service provider.” The exchange stated that it had contacted the provider and was working on resolving the problem. Founded in Poland in 2014, BitBay claims to be the third-largest cryptocurrency exchange in Europe with more than 800,000 users.  BitBay…

Read More

Ripple Labs Donates $200k to Combat COVID-19 Pandemic

Ripple will allocate funds to non-profit organizations in favor of fighting the coronavirus pandemic. Ripple Labs announced a donation of $200,000 to two different non-profit organizations on March 25. These donations will aid in the fight to contain the spread of the coronavirus throughout the U.S. In a tweet published on Ripple’s official profile, the lab stated that $100,000 will go to the Tipping Point Emergency’s Response Fund and the Silicon Valley Community Foundation’s COVID Regional Response Fund, respectively. California’s non-profits favored by the Ripple Labs donation Tipping Point, which is…

Read More

Bison Trails Announces Support For Solana Protocol

Libra association member will include Solana at platform’s mainnet launch. Blockchain infrastructure-as-a-service company and Libra association member, Bison Trails, announced support for Solana on March 26. Solana is an open-source project that implements permissionless blockchain technology. Solana’s protocol uses a new approach to establish the order of blocks, called Proof-of-History, and will be available at mainnet launch on the Bison Trails platform. As the company details, Solana currently supports 50-65K transactions per second and 400ms block times, with 50 nodes on its public testnet. Benefits attached to the partnership In…

Read More

Indian Tech Giant Mahindra Speeds Up Cross Border Transactions with Blockchain

India’s Tech Mahindra said faster reconciliation and a reduction in paperwork are just two of the benefits of its implementation of the Marco Polo blockchain platform. Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, has become the first Indian business to use R3’s blockchain-based Marco Polo Network for conducting cross-border transactions. It said the platform had resulted in faster reconciliation and ambiguity resolution, as well as the significant reduction of paperwork and time required for the entire transaction cycle. Tech Mahindra partnered with Singapore’s DBS Bank, which facilitated…

Read More

Cryptocurrency is a Failure as a Currency Says Brazil’s Banking Chief

Brazil’s banking chief argues that crypto is a failure as a currency — but in neighbouring Venezuela it has already ‘changed the destiny of an entire country’. The President of the Brazilian Banking Federation, Murilo Portugal, has argued that  cryptocurrencies are not really currencies at all. Portugal was speaking in a debate about the ‘Impact of the Digital Revolution on the Financial System’ at the non-profit think tank, the Fernando Henrique Cardoso Foundation. The debate examined the impact of new technologies on financial services, including blockchain, cryptocurrency, big data, artificial…

Read More

AI Meme Content Creators Benefit From New DeFi Revenue Model

Alethea AI’s users leverage a new revenue model to support their favorite synthetic AI-generated memes. Alethea AI, a decentralized Synthetic Content Network which tracks the usage and intellectual property of AI-generated content, has officially launched a new revenue model leveraging Decentralized Finance(DeFi) for content creators on March 30.  DeFi plays an important role  Alethea AI’s users can now leverage a new smart contracts revenue model to support their favorite synthetic AI-generated memes creators, according to the announcement.  Users staking Dai can generate interest through the Compound.Finance protocol. This revenue can…

Read More

‘Overwhelming Evidence’ – Prosecutors File Motion to Dismiss Alleged Onecoin Lawyer’s Appeal

While Onecoin’s crypto queen Ruja Ignatova remains at large, U.S. resident Mark Scott is trying to get his verdict acquitted after being accused of helping Onecoin leaders, including Ignatova, launder money and commit fraud. Also read: ‘What Bitcoin Did’ – Scanning the Hottest Cryptocurrency Keywords and Google Searches NYSD prosecutors Cite Strong Evidence Against Lawyer Mark Scott Filings from the New York Southern District Court (NYSD) reveal that the federal government’s prosecutors are not buying former attorney Mark Scott’s story. Scott used to work for the law firm Locke Lord…

Read More