Market Update 9.26.18 – Australian Science Agency Claims Global Blockchain Test Breakthrough
Market News
Australian Science Agency Claims Global Blockchain Test Breakthrough
An Australian federal science agency just recently completed a global test on a blockchain network it developed alongside the University of Sydney. Apparently according to both, it can process 30,000 cross-border transactions per second.
The Commonwealth Scientific and Industrial Research Organization (CSIRO) released the test result in an announcement, which was deployed using the Amazon Web Services (AWS) global cloud infrastructure. Called the Red Belly Blockchain and created by the CSIRO’s technology arm Data61 and the Concurrent Systems Research Group (CSRG) from the University of Sydney, the network was tested among 1,000 nodes across 14 countries in the Americas, Asia Pacific, and Europe.
Read the full report here.
Introducing the Crowd Machine Crypto Theft
Just a couple of days ago, Crowd Machine was working to build a crypto replacement for Amazon Web Services. Today, it is facing questions about its survival. According to a post by the Crowd Machine team, a hacker compromised the company’s cryptocurrency wallet and stole a large number of the application’s native Crowd Machine Compute Tokens (CMCT).
Digging further, the thief appears to have made off with over 1 billion CMCT, most of which were then transferred to exchanges. The price of the tokens fell steeply following the incident, dropping by 87 percent to a low of around $0.0019.
“We are working to resolve this issue as fast as we can,” the Crowd Machine said.
Read the full report here.
Firms, Crypto Companies Discuss ICO Token Classification and Compliance
More than 45 representatives from major Wall Street firms and crypto companies took part in a meeting to discuss Initial Coin Offering (ICO) and cryptocurrency regulations in Washington D.C. The “crypto roundtable,” which hwas hosted by Congressman Warren Davidson in the last legislative session week before elections, gave a chance for industry representatives to express their concerns regarding possible regulations of the crypto space.
Namely, experts told lawmakers that there is a pronounced lack of regulatory clarity for ICOs and digital currencies. Roundtable participants discussed “token taxonomy,” aiming to describe the existing uncertainty around the definition of ICO tokens, as well as the implied regulatory framework.
Experts suggested principles for regulatory compliance and consumer protection, aiming to outline major regulatory approaches that should be implemented in line with the evolving technology. Addressing the first and main point of the discussion, Marvin Ammori, General counsel at Protocol Labs, stressed a whole “cascade of uncertainty,” associated with existing token classification.
Read the full report here.
Total Market Cap: Sept 26
The volume of trade in the crypto market sat at $15.17 billion. The market’s capitalization, on the other hand, reached $211.49 billion.
Bitcoin Price Analysis: Sept 26
In the past 24 hours, Bitcoin fell 0.22% to trade at $6,448.13. The leading cryptocurrency’s trade volume trickled to $4.38 billion, while its market slid to $111.48 billion.
Ethereum Price Analysis: Sept 26
Ethereum’s price fell 1.78% to trade at $212.49. As for the altcoin’s trading volume, it reached $1.96 billion; whereas its market capitalization hit $21.71 billion.
State of the Top 10 Cryptocurrencies: Sept 26
In the past 24 hours, most prices of were up. Meanwhile, Monero still managed to dethrone Dash at the 10th spot.
- Bitcoin’s market price fell 0.22% to $6,448.13, and its value in the market is $111.48billion.
- Ethereum’s market price fell 1.78% to $212.49, and its value in the market is $21.71 billion.
- XRP’s market price jumped 12.23% to $0.516095, and its value in the market is $20.58 billion.
- Bitcoin Cash’s market price fell 1.07% to $441.89, and its value in the market is $7.66 billion.
- EOS’ market price jumped 1.97% to $5.36, and its value in the market is $4.86 billion.
- Stellar’s market price jumped 2.00% to $0.245768, and its value in the market is $4.62 billion.
- Litecoin’s market price jumped 1.15% to $57.14, and its value in the market is $3.34 billion.
- Tether’s market price fell 0.20% to $1.00, and its value in the market is $2.8 billion.
- Cardano’s market price jumped 1.40% to $0.079517, and its value in the market is $2.06 billion.
- Monero dethrones Dash at the 10th spot, but its market price fell 0.24% to $113.97, and its value in the market is $1.87 billion.