Bitcoin Cash Price Weekly Analysis: BCH/USD Facing Tough Resistance

Key Points Bitcoin cash price started a new upside wave from the $650 support area against the US Dollar. There are two bearish trend lines formed with resistance at $770 and $810 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair must break and settle above the $800 resistance zone to gain upside momentum. Bitcoin cash price is slowly recovering above $700 against the US Dollar. BCH/USD has to move past the $800-810 barrier to remain in a bullish zone in the near term. Bitcoin…

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Floods in China Heavily Damage Major Crypto Mining Operation

Recent floods in the Sichuan province of China have reportedly resulted in heavy damage to a major cryptocurrency mining operation in the area. The news was published on a local blockchain and crypto information platform Golden Finance (金色财经) June 30. Ecns, the official English-language outlet of the China News Service (CNS), has reported that Sichuan and four other provinces in China experienced heavy rains on June 27 and 28, resulting in floods. Golden Finance claims that a major cryptocurrency mining operation in Sichuan has been heavily affected, leading to a…

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Over 1000 Crypto Projects Are Considered ‘Dead’ Now

More than a thousand of crypto projects are “already dead” as of June 30, 2018, according to a recent TechCrunch report. The news outlet has based its claim on data from two websites: Coinopsy and DeadCoins. Coinopsy provides daily reviews of various cryptocurrencies, including ones that are already “dead.” It defines a “dead” token as exhibiting at least one of the following: “abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.” According to Coinopsy’s list, there are 247…

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DeadCoins Brings Attention to 800 Lifeless Cryptos

Initial coin offerings (ICOs) were the talk of the town last year, drawing the eyes and ears of worldwide investors. However, DeadCoins has reported that over 800 cryptocurrencies now lay lifeless, with many of these projects enlisting business practices reminiscent of scams.  ‘DeadCoins’ Says Over 800 Cryptocurrencies Now Lay Lifeless DeadCoins, a collection of cryptocurrency ‘eulogies’, now has a list of over 800 cryptocurrencies that lack a promising outlook. Although this may be poking fun at these 800 projects, the issue still remains. That is, the growing issue with questionable…

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Spanish Ruling Party Proposes to Use Blockchain in Country’s Administration

133 deputies from the Spanish ruling party, Partido Popular, have proposed a bill to use blockchain in the public administration of Spain, CriptoNoticias reports Saturday, June 30. The bill was introduced to the Spanish Congress on June 22 and published on the official website of the legislative branch on June 26. It hasn’t been reviewed by other deputies yet. The Congress website has not provided any further information on the bill’s details so far. As Cointelegraph reported in February, Partido Popular considered to give tax breaks to companies that use…

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Delays Be Damned: Tezos Blockchain Enters Beta

After months of painful wrangling, the Tezos network is up and running – more or less. The Tezos Foundation announced on Saturday that the blockchain’s “betanet is live.” As the group explained prior to the launch, this means that a fully functional version of the network is available, but still “experimental” in nature, with downtime and even emergency hard forks of the network possible. The foundation’s plan is for transactions that occur on the betanet to remain valid on the mainnet – the final version of the network, expected in Q3 –…

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Recently Found Double Spending Vulnerability Is Not Tether’s Own, SlowMist Confirms

China-based cybersecurity firm SlowMist has confirmed that a recent double-spending vulnerability it found in Tether (USDT) is not inherent to the cryptocurrency itself. Instead, it is enabled by some crypto exchanges’ databases not strictly verifying the status of the “valid” parameter of incoming USDT transactions. SlowMist explained this in a comment to its own Tweet June 28. On June 28, SlowMist detected a vulnerability that allowed them to send USDT to a crypto exchange without correct field values on the transaction. Subsequently, the cybersecurity firm explained that the newly discovered…

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EOS’ Crisis of Dispute Resolution

Another week, another squabble involving the beleaguered EOS blockchain. The platform that has recently sustained a round of criticism for its lack of decentralization and its underwhelming technical robustness is now going through a governance crisis. The problem partly stems, quite ironically, from the lack of the system’s mediating capacity and centralized enforcement over the pool of Block Producers – twenty-one entities elected by token holders and responsible for validating transactions under the Delegated Proof of Stake consensus mechanism. The latest controversy unfolded as the EOS Core Arbitration Forum (ECAF),…

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Blockchain’s Impact on Food and Farming, Explained

4. Blockchain could eliminate paper-based processes and cut costs, with these savings passed on to you. Getting rid of middlemen would minimize transaction fees, and decentralization would also make it easier for smaller farms to compete with larger corporations. For example, blockchain concepts such as PavoCoin are entering the fray — giving smaller farmers access to attainable financial services, such as the ability to pre-sell crops via smart contracts, helping them to improve the quality and quantity of their harvests, and providing consumers with greater amounts of information about the…

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Crypto Market Suddenly Adds $26 Billion Overnight, Bitcoin and Ether Surge 11%

The crypto market has added more than $26 billion in the past 24 hours, as major assets including bitcoin, Ethereum, and Bitcoin Cash rose by more than 10 percent. Bitcoin, Ethereum, and Bitcoin Cash are Today’s Big Gainers Major digital assets recorded large gains on June 30, as the volume of the crypto market suddenly surged by several billions dollars. With bitcoin and Ether, the native cryptocurrency of the Ethereum blockchain protocol, leading the market with solid 11 percent gains, other large digital assets such as EOS, Stellar, Cardano, IOTA,…

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