Hours After Bitcoin Cash Network Update Begins, Bitcoin ABC Over 10 Blocks Ahead

The Bitcoin Cash (BCH) network update, which many predicted would lead to a hard fork, began as scheduled today, Nov. 15. At press time, Bitcoin ABC and Bitcoin Unlimited are currently leading Bitcoin SV in terms of both hash rate and number of nodes, according to Coin.Dance. Under the new consensus rules, 41 blocks have been already mined, wherein Bitcoin ABC is 12 blocks ahead. The update has led cryptocurrency exchanges around the world to suspend BCH trading and withdrawals. The news about the protocol upgrade has divided the BCH…

Microsoft Releases Cloud-Based Azure Blockchain Development Kit

American software corporation Microsoft has released a serverless blockchain-powered Azure development kit, according to an announcement published Nov. 15. The new product dubbed the “Azure Blockchain Development Kit” purportedly improves the capabilities of Microsoft’s Azure Blockchain Workbench. It contains features like off-chain identity and data, monitoring, and messaging application programming interfaces (API) in a format that can be used to develop blockchain-based apps. Per the blog post, the initial release will focus on three core objectives, such as “connecting interfaces, integrating data and systems, and deploying smart contracts and blockchain…

Binance Warns Iranian Traders to Withdraw Crypto Amid Sanctions

Binance is advising its remaining users in Iran to withdraw their money as the cryptocurrency exchange seeks to comply with international sanctions. “If you have an account with Binance and fall into that [sanctions] category, please withdraw your assets from Binance as soon as possible,” reads an email received in recent days by Iranian users, according to several local sources. Sepehr Mohamadi, chairman of the board of the Blockchain Association of Iran, said emails like this have been trickling in for months, but their numbers recently increased following renewed U.S. sanctions,…

Bitcoin Market Cap Below $100 Billion as BCH Hard Fork Spooks Investors

Twitter Facebook LinkedIn It has been more than 24 hours since bitcoin scared investors with a sudden 10 percent drop. But there hasn’t been a concrete recovery action — yet. The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. The coin’s market cap has risen likewise but remains below the three-figure billion dollar valuation. The weekly chart on Coinbase indicates BTC/USD is testing the support area of a giant falling wedge formation. Technically, a falling wedge formation predicts a potential breakout…

‘The Cutest Crypto Game’ Now Available on EOS

Blockchain Cuties, a decentralized crypto collectible game operating on the Ethereum (ETH) blockchain, has announced that it is now available on EOS. The developer company says the new step makes Blockchain Cuties “the first game which officially supports two blockchains simultaneously.” This is supposed to make transactions faster and the players can now breed both ETH and EOS-based cuties. Non-fungible tokens support The game announced that from now, players can log in to the game using their EOS Wallet and start breeding their first EOS cuties. Blockchain Cuties says importing…

SV Price Improving as BCH Fork Nears; ABC Behind

Twitter Facebook LinkedIn With bitcoin cash mining its first forked block, the futures prices of SV and ABC are fluctuating wildly. The BCHSV futures price jumped 10.7 percent against the US dollar, rising from $88.12 to $97.51 within just an hour — before sinking below $90 after the fork. Meanwhile, the BCHABC futures price rate saw a 9 percent decline, declining to $273.50, before rallying to a high of $341 after the fork activated. As both the derivatives are working in the absence of an actual market cap, the price fluctuations…

After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum

Thursday, Nov. 15: yesterday’s fall in crypto markets continues today, with Bitcoin (BTC) dipping below the $5,400 mark, and total market capitalization dropping as low as $174 billion, according to data from CoinMarketCap. After an extended period of low price volatility, crypto markets experienced a massive decline yesterday, Nov. 14, with Bitcoin dropping from its average trading price of around $6,400 to as low as $5,506. The recent dive has marked a new volatility record for markets this year. According to BitMEX Daily Historical Bitcoin Volatility Index, Bitcoin volatility rate…

European Central Bank Exec Calls Bitcoin the ‘Evil Spawn of the Financial Crisis’

Executive Board member of the European Central Bank (ECB) Benoit Coeure considers Bitcoin (BTC) to be the “evil spawn of the [2008] financial crisis,” Bloomberg reports Nov. 15. Coeure reportedly made his acid remarks at the Bank for International Settlements (BIS) in Basel. The BIS’ general manager Augustín Carstens has likewise previously made a spate of crypto-skeptical remarks, notably characterizing Bitcoin as a “combination of a bubble, a Ponzi scheme and an environmental disaster.” Explicitly recalling Carstens’ characterization, Coeure framed his criticisms of the ten year old innovation with a…

Sberbank CEO Says Industrial Scale Blockchain Adoption Is 1-2 Years Away

The head of major state-owned Russian bank Sberbank has forecast that blockchain adoption will happen on an industrial scale in one to two years, local news agency TASS reported Nov. 13. Speaking to journalists this week, Sberbank CEO Herman Gref explained that the technology is entering the stage of its industrial development: “The hype around the technology [blockchain] is now over, and the technology is entering the stage of industrial development. It needs a year or two to be implemented at the industrial scale.” Gref argued that global markets are…

Bitcoin’s Breakdown Will Take ‘Weeks, If Not Months’ to Rebound, Says Fundstrat Analyst

lt will take “weeks, if not months” to repair the “technical damage” caused by the recent collapse of Bitcoin (BTC), according to a Fundstrat Global Advisors analyst, Bloomberg reports today, Nov. 15. In a note to clients yesterday, cited by Bloomberg, Fundstrat’s Rob Sluymer predicted that Bitcoin’s collapse yesterday has pushed crypto markets into a “deeply oversold” area, while “longer-term technical indicators aren’t so favorable.” Sluymer concluded that Bitcoin will be able to support a “multi-month rally,” but only after the “significant” damage done this week has been overcome: “This…