Cobinhood Execs Raise $20 Million for 1 Million Tx/S Blockchain Project

The founders of cryptocurrency exchange Cobinhood are commissioning the development of a new blockchain capable of processing 1 million transactions per second, a massive undertaking given that Bitcoin transaction can take hours to complete and Ethereum transactions range from 1-5 minutes, with even Visa’s ~2000 tx/s being dwarfed in comparison. The company behind the project is DEXON, which is focused on blockchain mass adoption within the banking industry and real-world application requirements. DEXON reports that the new blockchain technology uses a blocklattice structure that meshes multiple chains together to form…

Uber’s Largest Shareholder Softbank Denies Deal With Bitmain, Other Investments Uncertain

An official from Softbank has denied their involvement in the investment deal with Bitcoin (BTC) mining behemoth Bitmain that was reported last week by both crypto and mainstream media sources. As previously reported, Bitmain had allegedly sealed a pre-Initial Public Offering (IPO) financing deal which had brought its valuation to $15 billion. Both Chinese tech conglomerate Tencent and Japan’s SoftBank — another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder — were purportedly involved. After receiving an anonymous tip that Tencent and Softbank…

Porn Website Tube8 to Launch Blockchain Platform, Reward Views With Crypto Tokens

Porn website Tube8 has revealed plans to create a blockchain-based platform for users to earn crypto tokens as they watch and interact with Tube8 videos, according to Hard Fork, August 17. The adult entertainment streaming site and subsidiary of Pornhub announced a partnership with Vice Industry Token (VIT), which will develop a tokenize platform for Tube8’s 10 million users and 150 million monthly website visits. The new system will reportedly be implemented by the end of the year. As Robin Turner, the spokesperson for Tube8, told Hard Fork, the platform…

How Blockchain Developer Failed The Vice Industry Token

As the Los Angeles Times reported on Aug. 14, Playboy — one of the pioneers in global erotica — is suing the Canadian firm Global Blockchain Technologies (BLOC), claiming that it failed to integrate blockchain technology into Playboy’s online media channels. Playboy Enterprises has filed a lawsuit in the Los Angeles County Superior Court, and the accusations include fraud and breach of contract, which the two companies drew up in March. BLOC representatives dismissed the lawsuit as a “normal dispute” between the two businesses, rejected the charge of fraud as…

BTCUSD Capped by Strong Resistance

Bitcoin price today tumbled 2 percent against the dollar, confirming a weak push by bulls in the current bearish bias. The BTC/USD continued to extend its prevailing upside momentum, breaking above 6500-fiat to establish 6620-fiat as its new intraday peak level. However, the absence of enough bullish sentiment around the peak area, also visible during the August 15th pullback action, reversed the upsides. The pair dropped as much 4.5 percent, as a result, and is now attempting what looks like a weak bounce back. We also had to exit our…

Crypto Continues Short-Term Recovery as Tokens Surge

The crypto market has continued its recovery over the past 24 hours, as both major cryptocurrencies and tokens continued to surge in value. While Bitcoin remained relatively stable with a 1 percent gain, Ethereum, Ripple, Bitcoin Cash, and EOS recorded 4 percent, 9 percent, 8 percent, and 11 percent gains respectively, pushing the valuation of the crypto market to $220 billion. As was the case on August 17, the best performers in the global cryptocurrency market today have been tokens. Ta Ta Tu, Nebulas, Aion, EOS, and Ontology increased by…

Can Security Tokens Save Crypto From the Bear Market Blues?

“Security tokens will save crypto.” That’s what Trevor Koverko, CEO of the crypto project Polymath, told CoinDesk at a blockchain technology festival in Toronto this week. There, tokenized dividends were the week’s hot topic, even despite the bear market in August in which bitcoin and ether prices dipped to below $6,000 and $300, respectively. But Koverko was far from alone in his views. Alan Wunsche, CEO of the crypto startup TokenFunder and co-founder of the industry consortium Blockchain Canada, told CoinDesk he believes tokenized assets are the future of capital…

How Hackers Stole Millions Worth of Crypto Via Victim’s Telecoms Operator

On Aug. 15, American investor Michael Terpin filed a $224 million lawsuit against AT&T. He believes that the telecoms giant had provided hackers with access to his phone number, which led to a major crypto heist. Michael Terpin is a Puerto Rico-based entrepreneur and CEO of TransformGroup. He is also a co-founder of an angel group for Bitcoin (BTC) investors named BitAngels and of a digital currency fund, the BitAngels DApps Fund. Terpin claims that he lost $24 million worth of cryptocurrencies as a result of two hacks that occured…

Capital One Wants to Authenticate Users on a Blockchain

Blockchain adoption continues to rise in the banking sector, with the news that Capital One has applied for a patent to potentially develop a blockchain system that authenticates new users in a secure manner. Capital One is a bank holding company specializing in credit cards and bank loans, making security a primary concern. According to documents published this week, the company has applied for a patent entitled “Blockchain Systems and Methods for User Authentication.” The patent was filed in Virginia, USA, with Johnathan Weimer and Ryan Fox listed as the…

IBM Applies for Blockchain Patent to Ensure Transaction Compliance via Nodes Data

Tech giant IBM has applied for a blockchain patent for the development of transaction data identifiers based on nodes, according to a patent document published by the U.S. Patent and Trademarks Office (USPTO) Aug. 16. The system described in the patent, entitled “Node Characterization in Blockchain,” intends to introduce a method of data extraction from nodes on a blockchain network in order to identify different types of transactions. Specifically, any operation on blockchain may possess a node or a number of nodes that can carry useful information about the character…