blockchain technology Tag

SHANGHAI (July 7) Virtual currencies like bitcoin are assets but bitcoin in itself does not have the fundamental attributes needed to be a currency that could meet modern economic development needs, a Chinese central bank adviser said. Sheng Songcheng, adviser to the People’s Bank of China (PBOC), made the comments in an interview with financial magazine Yicai published late Thursday. “Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms…But I do not deny that virtual currenciesRead More
While Bitcoin, and recent Chinese and Korean momentum favorite, Litecoin, have been relatively stable for much of the day, Ethereum suffered dramatic losses on Wednesday, sliding from $360 to $260 before rebounding, in the process experiencing what may have been its first flash crash, when it plunged by 96% from $315 to $13 on massive volume, before rebounding. As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline. Over the past 24 hours, there were several warnings about “unstable operation” in the Ethereum Network,Read More
Step aside, bitcoin. There’s another digital token in town that’s winning over the hearts and wallets of cryptocurrency enthusiasts across the globe. The value of ether, the digital currency linked to the ethereum blockchain, could surpass that of bitcoin by the end of 2018, according to Olaf Carlson-Wee, chief executive officer of cryptocurrency hedge fund Polychain Capital. “What we’ve seen in ethereum is a much richer, organic developer ecosystem develop very, very quickly, which is what has driven ethereum’s price growth, which has actually been much more aggressive than bitcoin,”Read More