HTC seeks to corner mobile dapp market with Q3 smartphone launch

Having announced the “world’s first blockchain smartphone” earlier this year, technical details were rather on the scant side, but yesterday HTC at least shed some light on a possible launch date for ‘The Exodus’ and the markets it’s looking to corner. Having seen its headcount drop by roughly 75% in the last five years, the Taiwanese electronics manufacturer’s blockchain play sounds a bit of ditch effort to get out of a deep rut, but the use-cases it’s focusing on sound...

Bancor exchange loses $13.5m as latest victim of cryptocurrency hack

In yet another demonstration of security shortfalls among the cryptocurrency market’s largest members, Israeli-based exchange Bancor has last night lost $23.5m (£17.8m) to a cyber attack. Announcing it as a security breach, Bancor later explained that hackers had targeted a compromised wallet used to upgrade certain smart contracts on the network, which allowed them to withdraw almost 25,000 ethereum tokens. The company operates as a “decentralised liquidity network” where...

eToro: On trust and helping cryptocurrencies become more of a ‘medium of exchange’

It has been an interesting past few weeks for brokering firm eToro. The company has added Cardano to its trading network – making it the 11th cryptocurrency on its platform – as well as announcing plans to open a new over the counter (OTC) cryptocurrency trading desk in London. For a company which started life in 2006 as RetailFX, it is fair to say that while crypto was not the founding principle, it quickly gained importance. CEO Yoni Assia was an early adopter, and according to eToro...

Why cryptocurrencies will still prosper – with or without the help of banks

For many years, bitcoin and other cryptocurrencies remained a fringe movement, generally unknown to those outside the immediate community. In 2010, a year after its invention, one bitcoin was never worth more than $0.50, but the unprecedented attention that cryptocurrencies and blockchain have received in the last two years has led to sharp price spikes, forcing ordinary consumers, businesses and institutions across a wide range of industries to sit up and take notice. Not all of the...

Huobi: On Bloomberg Terminal listing, expansion plans and exchange hacks [video]

Singapore-based Huobi now holds rank as the world’s third-largest cryptocurrency exchange - far from a meagre title in the booming crypto-business. However, recent exploits would suggest it’s not content to stay in third place. Given the opportunity to speak to the company in the flesh at Blockchain Expo Europe in Amsterdam The Block relished the chance to talk about recent developments, aggressive expansion plans, and Huobi’s take on recent exchange heists in South Korea. Last...

Nordcoin wants to solve the crypto-mining energy crisis with shipping containers

Estimated to swallow up the same amount of power per year as Switzerland and on course to consume 0.5% of the world’s electricity by the end of the year (and that’s just the Bitcoin network), the mammoth amounts of power required to run blockchain ‘proof of work’ algorithms remains a crucial blocker for the technology’s adoption. Aside from the eye-watering costs associated, there’s also the environmental impact to consider. Again, focusing on Bitcoin alone, the 42TWh of...

Cryptocurrency exchange Bithumb is hacked in $36m heist

Bithumb has suspended trading after the latest cyber-heist saw the crypto exchange robbed of $36.6m (£24m) worth in currency last night. The values of coins including Bitcoin, Ethereum and Ripple have fallen in reaction to the news. It is the second time in less than a year that the exchange has been breached. In June 2017, a computer of a Bithumb employee was hacked leading to access information of 30,000 users being leaked. It is also the second time a leading South Korean...

Two of Russia’s largest banks are piloting cryptocurrency trading

Two of Russia’s largest banks are to begin piloting cryptocurrency trading for their private clients, according to a report by Kommersant on Friday (June 15). The tests will be conducted within the “regulatory sandbox” of the country’s central bank, and follow recent comments by Russian president Vladimir Putin, that cryptocurrencies “cannot be a means of payment or saving” but subject to tight and careful regulation “have their place within the world”. The pilot process...

EOS blockchain launches after year-long $4 billion ICO

EOS, a new blockchain system touted as a “faster and more efficient” Ethereum alternative has finally launched today (June 15) after a year-long ICO (initial coin offering) by developer Block.one which raised over $4 billion (£3 billion). The activation follows the 150m (15%) of token-holder votes required to determine the 21 individuals or entities known as ‘block producers’, that will maintain the distributed network and be rewarded for verifying transactions, serving in a role...

‘Netflix of crypto’ gears up for UK stock listing on mission to democratise mining

The UK stock market could be about to see its first blockchain-based listing, as a new company aimed at bringing cryptocurrency mining to the 99% sets its sights on the London Stock Exchange. Argo Blockchain, launched last year as a “mining-as-a-service” subscription platform, is aiming to raise £20m in the listing with expectations at being valued at around £40m once public, as it realises its vision of handing cryptocurrency mining power to a majority. The process of creating...