Market Update 8.18.18 – Capital One Applies for Blockchain in User Authentication
Capital One Applies for Blockchain in User Authentication
The US bank holding corporation Capital One has filed a patent application to implement a Blockchain based user authentication system. According to the filing published by the USPTO (US Patent and Trademark Office), this application is actually a continuation of one that the company had submitted in June 2017.
According to this application, the proposed new system is going to be developed to receive, record, store as well as retrieve a user’s authentication information in various Blockchain powered member platforms.
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Gambling on Ethereum Out of Control
Since July this year, projects that strongly resemble Ponzi schemes have proliferated massively on the Ethereum network. Even those developers and technologists known for taking massive risks are showing concern about how much gambling on the world’s second largest Blockchain has grown.
Team JUST, a group of anonymous developers who created the infamous gambling DApp FOMO 3D, warned users last week that an almost exact copy of their game was taking up about one-third of Ethereum’s computing power and had raised almost $7 million worth of ETH in just seven days.
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IBM Applies for another Blockchain Patent
IBM, the US based technology giant, has applied for yet another patent, this time to develop a Blockchain powered transaction data identifier. According to the patent, which is called Node Characterization in Blockchain, the company plans to develop a way to extract data from Blockchain network nodes so that different types of transactions can be identified.
The patent stated that this system would be able to extract a range of characterizations on nodes such as text mining, compliance, entity extraction, information analysis and discovery, ontology based entity discovery and even semantic extraction.
By extracting such types of data, IBM would be able to help regulatory authorities achieve the required levels of monitoring data security on Blockchains, thus making such networks even more secure against hacks and other threats.
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Total Market Cap: August 18
At $60.04 billion, the cryptocurrency market’s trading volume has risen for the third day in a row. Capitalization of the cryptocurrency market has also gone up by $5.85 billion to $220.47 billion.
Bitcoin Price Analysis: August 18
Bitcoin’s price gains for the third day in a row, up by 0.45% to trade at $6539.82. The market value of the crypto is $112.60 and its trade volume is $4.58 billion.
Ethereum Price Analysis: August 18
Ethereum’s price gained 3.1% to trade at $311.50 now. The altcoin’s trading volume is $1.97 billion and its value is $31.62 billion.
State of the Top 10 Cryptocurrencies: August 18
The cryptocurrency market continued to show green for the third day in a row with all the top ten cryptocurrencies by market cap gaining. The biggest gains were shown by XRP, which gained 14.43%, EOS, which jumped up by 10.37% and BCH, which gained 9.70% in trading so far today.
- Bitcoin rose by 0.45% to trade at $6539.82. The digital currency’s market cap is $112.60 billion.
- Ethereum rose by 3.10% to trade at $311.50. The digital currency’s market cap is $31.62 billion.
- Ripple rose by 14.43% to trade at $0.347577. The digital currency’s market cap is $13.68 billion.
- Bitcoin Cash rose by 9.70% to trade at $587.63. The digital currency’s market cap is $10.16 billion.
- EOS rose by 10.37% to trade at $5.34. The digital currency’s market cap is $4.84 billion.
- Stellar rose by 3.47% to trade at $0.229409. The digital currency’s market cap is $4.30 billion.
- Litecoin rose by 4.18% to trade at $59.27. The digital currency’s market cap is $3.43 billion.
- Tether rose by 0.47% to trade at $1.01. The digital currency’s market cap is $2.71 billion.
- Cardano rose by 5.38% to trade at $0.104434. The digital currency’s market cap is $2.70 billion.
- Monero rose by 4.05% to trade at $98.98. The digital currency’s market cap is $1.61 billion.