Blockchain Bites: Weary Bulls of Bitcoin, the action plan of ETC, the IPO of INX

INX is up for a landmark IPO, 1 billion tether jump from Tron to Ethereum and a shift in the bitcoin options market suggests that bullish speculation is starting to ease.

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INX IPO
INX plans to launch its landmark initial public offering (IPO) on Monday. The exchange of cryptocurrency and security tokens signaled plans to go public in January 2018, with the aim of becoming the first security token offering to Securities and Exchange Commission, open to mom-and-pop investors. INX will price 130 million tokens at $ 0.90 each, totaling $ 117 million in gross revenue. These tokens will benefit the exchange of the company and entitle investors to a share in profits.

Car complete?
Three Swiss crypto companies have completed the first automated bitcoin transaction that meets anti-money laundering (AML) standards. Zug-based Crypto Finance AG and 21 Analytics, and Geneva’s Mt Pelerin announced Friday 21 CHF value of bitcoin (~ $ 23) was sent in a live demonstration of a new transaction with the Travel Rule Protocol, an automated way to comply with the established standards by the Financial Action Task Force ‘Travel Rule’. Since it was adopted, intermediaries have had to manually commit to Travel Rule.

Patches ETC
After a 51% veteran attack, ETC Labs has devised an action plan to protect the Ethereum Classic blockchain. In the short term, ETC Labs will seek to stabilize chain plummeting, increase network monitoring, coordinate closely with exchanges and deploy a finality arbitration system. In the longer term, it could see a change in ETC’s proof-of-work mining algorithm, the introduction of a treasure chest system and the addition of 51% attack-resistant features.

Tether exchange
Stablecoin issuer Tether shifted $ 1 billion in USDT from the Tron blockchain to the Ethereum blockchain in an early morning exchange. In exchange made in combination “with a 3rd party”, according to a Tether tweet, token transport turns 23% of TRON’s USDT reserves, which previously had $ 4.3 billion in stablecoin. It also pumps up Ethereum’s reserves, where well over half of the nearly $ 13 billion that USDT circulates already resides. Ethereum is a hotbed for decentralized financing projects and as such a popular site for USDT.

Judicial use
Thailand’s largest court system is developing a blockchain storage network that will move judicial information completely online when it debuts in Thai Courts of Justice in 2021. Already in the midst of a nationwide digitization campaign, the Office of the Court of Justice has announced that overseeing 91% of Thai courts, said Thursday that the blockchain network is ‘actively developing’. Details are too poor about the new public blockchain project, and it was unclear at press time when Thailand builds the network using private sector, reports CoinDesk’s Danny Nelson.

Rachel-Rose O’Leary, a trainee C ++ developer at PolyTech and prolific cryptocurrency writer, shares her personal account of getting into Bitcoin and Ethereum and her opinion on where things have gone wrong. Except below you can read the full story here.

Bitcoin has lost its way
Like the ancient Irish poets, the filí, programmers have the ability to change reality with an utterance. Code is an intrusion, an act of invoking ideas and a tendency towards material reality. It is a channel between the sphere of ideas and that of politics and sociality.

But technology is not just the product of ideas – it actively forms belief systems, and configures the world in which it is applied.

Programmers know this: When a user’s behavior is influenced by code, it’s called opinionated software. When a user is manipulated for business interests, it becomes known as a dark pattern.

Software also has unintended consequences. Liberated in the wild, code ideology propagates in unpredictable and chaotic ways. Unforgettable, it makes a comeback, and innovation flows through human society, despite and indifferent to political difference.

The extent to which technology is informed by and produces belief systems has haunted me throughout my adult life.

It has caused me nightmares: bleak conclusions about the nature of technology, prophecies about taking over machines, and horrific visions about the future of war.

It also gave me dreams. I believe it is in the power of man that the narrative in which technology is formed. This makes it possible to take back the giant of escaped technological innovation and reorient human destiny.

Crypto is at the forefront of this fight.

Open and close?
Open positions in bitcoin (BTC) options are at near record levels, growing Thursday to $ 2.1 billion. The number of bearish picks relative to bullish calls has recovered from -10.3% to -3% over the past four days, indicating that traders are downloading many of their call options on the market. This suggests that bullish speculation began to lighten – a sign that investors expect consolidation as a price drop, said Omkar Godbole of CoinDesk.

Wumbo go
LND, an implementation of Lightning Network from the startup of Lightning Labs, has adopted support for wumbo channels. This SpongeBob Squarepants-themed standard removes a limit on the amount of bitcoin that can be held in a Lightning channel (currently 0.16777215 BTC), as well as limits on how large an individual payment (previously 0.04294967 BTC) can be , reports CoinDesk employee Alyssa Hertig. Caps were placed to prevent catastrophic loss on this experimental protocol. ACINQ’s blockchain eclair and c-lightning both adopted a form of wumbo earlier this year.

Just a spoof
A little discussed type of SIM card causes havoc for non-vulnerable victims. “White SIMs make it extremely easy to conduct outbound spam calls,” said Hartej Sawhney, head of cybersecurity agency Zokyo. “They’re basically illegal everywhere.” These cards offer the ability to spoof any number, can be encrypted and in some cases the user’s voice can be changed and mantled. Such SIM cards are favored by criminals, and they can make social tech attacks like those that hit Twitter last month easier to implement, said CoinDesk privacy reporter Ben Powers.

BTC for office
Who are the most pro-bitcoin politicians running for office? The Breakdown dives deep on both sides of the corridor.