Author: Thomas Delahunty

Russian Foodie Boris Akimov “Tokenizes” Himself: Offers Expertise and Advice

Russian celebrity, organic food fan, cryptocurrency enthusiast, and co-creator of BioCoin, Boris Akimov, has decided to “tokenize” himself. Akimov, founder of Russian online organic food exchange LavkaLavka, will launch his own cryptocurrency, Akimov coin, on the Waves Platform, a blockchain system developed in Moscow. As of today, Waves has not issued any further details about the coin or its pre-sale date. “It’s a simple idea in principle,” he says. “I have certain skills, knowledge, and experience, as well as my time — and that is what will be tokenized.” Akimov coin owners are basically getting discount services for his...

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Tezos Foundation Changes Leadership, Tokens Set to Launch in Coming Weeks

The Tezos ICO raised $232 million last July for the blockchain startup. Seven months later, after progress was delayed due to infighting between the founders, the project’s tokens are finally set to launch “in the next few weeks.” The Tezos foundation raised funds to develop a new cryptocurrency last July through an initial coin offering (ICO) that generated $232 million. While the ICO remains one of the largest by amount raised, contributors have yet to receive the new cryptocurrency because the project’s release has been delayed by infighting between the project’s founders, Kathleen and Arthur Breitman and Johann Gevers. Gevers,...

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Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

Power Block Coin, LLC’s proposal to invest $251 million to build a cryptocurrency mining farm in Montana Connections, a special tax district west of the city of Butte, has been given the green light. This Wednesday, Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow Utah-based Power Block Coin, LLC — a subsidiary of Blue Castle Holdings Inc. — to build a campus of high-powered data centres in special tax district Montana Connections. The company plans to spend $251 million on improvements to the site over 36 months. The Campus Power Block Coin plans to harness 135-megawatts of power...

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BitFunder Founder Charged by SEC for Stealing $61 Million Worth of Bitcoin

Today, the U.S. Securities and Exchange Commission (SEC) brought charges against Jon E. Montroll and his exchange BitFunder for operating an unregistered securities exchange and defrauding users. On top of that, the agency also charged the operator — Montroll — with making false and misleading statements in connection with an unregistered offering of securities. BitFunder was a platform that permitted users to buy and sell virtual “shares” of various digital currency-related enterprises in exchange for Bitcoin. “We allege that BitFunder operated unlawfully as an unregistered securities exchange.  Platforms that engage in the activity of a national securities exchange, regardless of...

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Iran: Central Bank Doesn’t Recognize Cryptocurrencies but Plans to Create Its Own

Late last year, it was reported that the Iranian government was interested in utilizing Bitcoin and other cryptocurrencies as a way of bypassing economic sanctions levied against the country. But the government has apparently changed its mind: Today, the Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts no transactions in it or other cryptocurrencies. According to Iran Front Page, the country’s central bank has denied ever recognizing Bitcoin as an official currency, along with the idea that it was actively facilitating Bitcoin transactions. The bank also warned Iranian citizens about the...

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New Jersey High School Offering Lessons In Cryptocurrency and Blockchain

Union Catholic High School in Scotch Plains, New Jersey is teaching its students about cryptocurrencies. Mr. Tim Breza’s Business and Personal Finance Class is the focus of a CNBC documentary that is showcasing how cryptocurrencies like Bitcoin and associated blockchain technologies are being introduced and taught in high school and college classrooms. Mr. Breza, a 28-year-old history and financial literacy teacher, first considered adding cryptocurrencies to his Business and Personal Finance class at the beginning of this school year after a few students approached him in September and October. The students were interested in learning more about the industry and...

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What SegWit Means for Bitcoin, Bitfinex, Lightning Network

SegWit Adoption SegWit adoption has been steadily rising since its release in August 2017, albeit not as quickly as some would like. The problem is that it has to happen piece by piece, with each wallet, exchange, or other service provider rolling out the compatible address itself. Because each organization has both its own type of process — as well as its own issues — SegWit adoption has not happened overnight. This phenomenon explains why the number of SegWit transactions still vary, accounting for between 10 to 20% of total transactions — though that percentage is set to increase. The protocol has...

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Tesla: Elon Musk’s Cloud Hacked to Mine Cryptocurrency

According to security research firm RedLock’s Cloud Security Intelligence (CSI) team, electric car manufacturer Tesla’s cloud account was hacked and used to mine cryptocurrency. The report, released Monday, comes as crypto-related cybercrime is on the rise and users and exchanges are struggling to keep up with hackers and the constantly evolving methods they employ to steal money and information. RedLock’s researchers say they found Tesla’s unprotected information on a Kubernetes console, which is a Google-designed system for optimizing cloud applications. It is this exposure that allowed hackers to access the company’s cloud. The breach was discovered last month when the CSI team was...

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SegWit Finally Embraced by Coinbase and Bitfinex, Bright Future Ahead

Today, Coinbase — cryptocurrency exchange, brokerage, wallet, and operator of GDAX — and Hong Kong-based exchange Bitfinex have announced the implementation of P2SH Segregated Witness (SegWit). As per the companies’ tweets, users will experience improved transaction processing times and lower fees across the Bitcoin network. Our engineering team has finished testing of SegWit for Bitcoin on Coinbase. We will be starting a phased launch to customers over the next few days and are targeting a 100% launch to all customers by mid next week. — Coinbase (@coinbase) February 20, 2018 We are proud to announce support for SegWit.https://t.co/FTCmRrRo2K pic.twitter.com/Kk2cA71wNN...

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Long Blockchain Struggling: Nasdaq Issues Delisting Notice

Long Blockchain, the company formerly known as Long Island Iced Tea, has announced a new CEO and plans to spin off its original iced tea business. But there’s a problem: According to company’s balance sheets, it has no income or assets related to blockchain or cryptocurrency. Long Blockchain has been attempting to rebrand itself — last year the company announced it was diversifying, shifting focus from beverages to blockchain technology — but investors aren’t buying. The company has been issued a second delisting notice from Nasdaq (the first notice being in October of last year before the company changed...

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