Friday Fall and Sunday Rally for Crypto Markets
The crypto markets saw a Friday sell off and Sunday upswing with most markets in the green at present. Ethereum was more volatile than Bitcoin as worries surrounding the state of the network and ICO's abound. The lows of the previous weeks sell off have not been reached.
Delaware Passes Historic Blockchain Legislation
Delaware has passed amendments to the state law that make explicit the rights of individuals to trade stocks via a blockchain. The bill passed the house almost unanimously; only the State Governor John Carney needs to sign the bill. This bill will be effective from the first of August.
Tezos Raises Over $150m
Tezos is a decentralised blockchain that is governed by a digital commonwealth. This commonwealth provides a built in mechanism for stakeholders to make collective, distributive decisions about upgrades and even changes to the initial protocol.
The ICO of Tezos has raised over 41,000 BTC and 180,000 ETH - which gives a total of raise of over $150 million.
Nick Johnson ICO Fix Plan
Nick Johnson is a developer at the Ethereum Foudnation Developer. He says that the problem with ICO's where problems with whales ousting small investors can be fixed. His ideas include Pre-ICO sales or paying large transaction fees to gain priority access to smart contracts.
He also suggests to reduce the time sensitivity of ICO's so as to mitigate the fear of missing out and that the price you bid is not influenced by the price that other people are paying . This is a form of Vickrey auction where the owner sets the maximum amount of tokens or ether to raise and subsequently calculates the optimal price for a token based on the bids.
Classic Ether Wallet Social Engineering Hack
The popular Ethereum Classic Wallet has been compromised by a social engineering hack. The hack is done by a hacker who called the wallet's web host in Germany and managed to convince them he was the website owner. The hacker then changed the domain to point to a web server he owns and can therefore receive their transactions.
State of the Crypto
Bitcoin is up 2.7% at $2,522.48 with a volume of Ƀ 62k - $154m on the USD pairs.
Litecoin is up 15% against the dollar for the day at $44.33 and up 12.5% to Ƀ 0.01782 on volumes of Ƀ 20k.
Ether is up 2% against Bitcoin at Ƀ 0.1116 per Ether and up 5.17% against the dollar to $278.62 with average volume Ƀ 56k on the ETH/BTC pair.
Dash is down 0.2% at Ƀ 0.06981 with Ƀ 3708k volume and up 2.75% against the dollar at $170.
Ripple is up flat at Ƀ 0.00009970 with volumes of Ƀ 5500 and up 3.1% against the dollar at $0.2493.
Zcash is down 1.4% for the day to Ƀ 0.1146 per ZEC and up 2.7% against the dollar to $280.72 with an average volume of Ƀ 2.2k for the 24 hour period.
Monero is up 3.5% against the dollar at $41.84 and down 0.35% against Bitcoin at Ƀ 0.01702 on volumes of Ƀ 3k.
Ether Classic is down 1.85% to Ƀ 0.006858 with volumes of Ƀ 3.9k and up 1.8% against the dollar at $17.12.
Stratis is up 0.5% to Ƀ 0.002305 on Ƀ 1.8k volume.
Waves is down 7.7% to Ƀ 0.001395 on Ƀ 851k volume.