It’s Friday, Friday gotta get down on Friday. Stuck in your head now? Good. Mwuhaha, now we can focus on this week’s Crypto report. Don’t worry about missing out on anything important and/or interesting. The Embily team has your back with some of the compiled news and articles for you to peruse, all here in this End of the week report.
So, grab a cup of coffee, sit back and relax.
Nano has announced that they are attempting to reach out towards into the Chinese market. They will be launching official WeChat and Weibo accounts this week. Hopefully this will help out with Nano’s entry into the Asian market.
Nano Developer Update
On the 23rd, an Ethereum developer posted on reddit which showed people an exploit in a smart contract. That particular smart contract handled $12,000,000 USD. The community is split on whether he did the right thing by making this public or not. With some saying he should have contacted the project directly, and others making the statement that this way people will learn to better secure their code. Some even called it a public free code audit.
So, uh, apparently an Ethereum developer is showing people on reddit how to exploit a smart contract that handles $12,000,000. 🤷♂️ pic.twitter.com/8rWbdEg74P
— grubles (@notgrubles) July 23, 2018
Ah yes. When new technology roles around that thousands and millions have yet to understand how it all works, scams are quick to come into play. But some are smart enough to take on a new form, such as games. These decentralized apps on the Ethereum blockchain have already amassed 20,000 Ether. That’s $9 million USD in trading volume in just 24 hours.
Ponzi games on Ethereum Blockchain
I myself am based in Thailand and we just recently went through some SEC clarifications on ICOs. So, it’s nice to see that countries all around the world are clarifying rules to help make things easier to understand for companies and individuals that want to get involved in Crypto.
Wealth Managers urge FCA action
This piece of news isn’t completely crypto related, but I think it’s still pretty interested and the Silk Road did have a lot of Crypto uses. Some good news for Ross Ulbricht, is the U.S. Attorney for the District of Maryland has filed a motion to dismiss pending murder-for-hire charges.
Attorney moves to dismiss murder for hire charges against Ross Ulbricht
There was a time where just about every company was planning on doing something with Blockchain. Well, some of those companies are actually going ahead with it. KT Corporation, which is South Korea’s largest Telephone company has just announced that they are launching their blockchain commercial network. The goal of this network is to help their existing nationwide network and assist in making it more secure and transparent.
South Korea’s stop Telephone Company reveals its own blockchain network
Just last month, there were several articles published on Bitmain, regarding their percentage of control over the Bitcoin nodes. It may seem scary, but there are plenty of publications out there that will help you understand why it may not be such a threat. And now they’ve just revealed the total hashrate of their cryptocurrency mining rigs!
Bitmain reveals the total hashrate of its Cryptocurrency mining rigs.
Don’t forget to check out our Monday Crypto report: Embily Monday Crypto Report. 23rd July
Cover illustration artist StamatisGR, DeviantArt