100 Bitcoin Users Perform What Might Be Largest ‘CoinJoin’ Transaction Ever

The community behind the privacy-centric bitcoin app Wasabi Wallet recently brought together 100 people to collectively execute a “CoinJoin” transaction on bitcoin in what might be the biggest event of its kind. Some context: bitcoin itself is far from private, as users can, via the blockchain, see where coins are being transferred to and from. One effort to afford greater privacy to transactions is CoinJoin, a long-standing technology first proposed in 2013 by long-time bitcoin idea man and cryptographer Greg Maxwell. The idea is that transactions can be made more private…

Earn DAI while learning about the stablecoin and how it’s generated

Customers can now earn DAI on Coinbase Starting today, Coinbase customers around the world can start earning DAI by watching lessons and completing quizzes about DAI and its features. DAI is the first stablecoin to be made available through Coinbase Earn. Coinbase strives to be a trusted source where customers can educate themselves about new developments in crypto, and we’re excited to offer people a new opportunity to learn about and earn DAI. According to the DAI whitepaper, DAI is a decentralized stablecoin running on Ethereum and designed with a…

Crypto Miners’ Electricity Shouldn’t Be Subsidized: Iranian Energy Minister

Cryptocurrency miners in Iran could face higher electricity bills if Iran’s Energy Minister gets his way. On Sunday The Financial Tribune quoted minister Homayoun Haeri as saying that energy used by cryptocurrency miners in Iran should be charged in real prices and not be subsidized by the government. Iran’s government spends about $1 billion in electricity subsidies in the country with Iranian households paying just a fraction of the real cost of the electricity usage. Authorities in Iran prohibit the mining and trading of cryptocurrencies. However, such activities continue to…

MPC Explained: The Bold New Vision for Securing Crypto Money

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Advances in cryptography are converging to help developers bring blockchain applications closer to the core decentralizing principles on which this technology is founded. Inventions such as atomic swaps, zk-SNARKS and Lightning-based smart contracts are allowing developers to realize the dream of true peer-to-peer transactions in which neither party, nor an outside intermediary, can act maliciously. Witness…

G20 Reaffirms It Will Apply Expected Tough New FATF Rules on Crypto

The G20 group of nations has reaffirmed it will align with standards for anti-money laundering (AML) and countering the funding of terrorism (CTF) set to be finalized by the Financial Action Task Force (FATF) this month. Finance ministers and central bank governors from the G20, who met in Fukoka, Japan, over the weekend, made the commitment to applying the rules in a communique published on the website of the Japanese Ministry of Finance on Sunday. The FATF standards are expected to set tough operating procedures for crypto exchanges, going beyond the basic…

Crypto Platform Says It Aims to Solve Bitcoin Scalability Issue

Crypto platform ILCoin says it is developing a “modern alternative to bitcoin” without scalability issues by using “pioneering technology” called command chain protocol (C2P). The protocol of C2P, created by ILCoin, is supposed to solve the main problem of the Bitcoin blockchain — the lack of scalability — by enlarging the block size. The startup says that it has already managed to increase its limit to 25 MB. This enables its users to have a higher transaction amount: Instead of the current maximum for Bitcoin of seven transactions per second,…

Cypherpunk Adam Back Speaks of Blockchain Benefits at G20 Meeting of Finance Ministers

Adam Back, who invented the hashcash proof-of-work system and was one of the first people to work on bitcoin (BTC), spoke about the positive uses of blockchain at G20. Cointelegraph Japan reported on Back’s comments at a meeting of finance ministers and central bank governors in Japan on June 8. Sitting next to the governor of the Dutch central bank, Back said he believed blockchain was another move to open networking — and said financial institutions stand to benefit from the technology because it would mean international transfers no longer need to go…

Ethereum (ETH) Snaps Back From $230, Benfica FC Setting Precedence

ETH bulls persistent, rejecting lower prices Benfica FC and UTRUST partnering will benefit fans By partnering with UTRUST, a crypto payment processor, Benfica FC fans will now pay for tickets and other merchandise using Ether or BTC. Meanwhile, the reaction from $230 could be the foundation that will propel ETH to $400. Ethereum Price Analysis Fundamentals The success of any blockchain project depends on reception. That Ethereum is one of the biggest benefactors because of their soft landing is true. Promising to create a platform that improves on Bitcoin, Vitalik,…

XRP Bulls Firm But Down 9.9%, Ripple Can Be A Micropayment Platform

XRP is down 9.9 percent Recent findings could embolden the XRP Army repeated calls for coin adoption CoinGate is confirming that XRP is suitable for micropayments. Their latest research reveals that more people are procuring services and settling using XRP. However, that did not spur demand as XRP is struggling against unyielding sellers. Ripple Price Analysis Fundamentals Seven years later and Ripple is more than a platform. From what’s publicly available, XRP is increasingly serving as a medium of exchange. According to CoinGate, month over month, more people are paying…

Top Crypto Media Site CCN Shuts Down, Cites Google Update for Loss of Search Visibility

Top cryptocurrency media site CCN is shutting down today, June 10th, according to an announcement on their website. The post, written by Jonas Borchgrevink, director and founder of CCN Markets and Hawkfish AS, states that the reason behind the closure is a large drop off in traffic from Google searches following a June 3 Google Core Update. Borchgrevink writes that the crypto news site’s traffic fell over 71% on mobile overnight. The founder notes that while traffic levels have been low in the past, the addition of new members to…