Market Update 6.28.18 – EOS CTO Proposes Re-Hauling Constitution
Market News
EOS CTO Proposes Re-Hauling Constitution
The Chief Technical Officer of EOS, Dan Larimer proposed that the entire constitution be re-hauled so that arbitrators’ powers could be curtailed. This proposal came in response to the recent infighting related to the structure of the Blockchain’s governance. According to the current constitution, three different groups are supposed to keep each other in check so that a balance is maintained.
These three groups are the Token Holders, the Block Producers (read: miners) and the Arbitrators (EOS Core Arbitration Forum – ECAF). The ECAF especially had been the target of massive criticism for the non-transparent nature of the group’s role and power, which was made worse by a series of mishaps in the last week.
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FBI: 130 Different Investigations Open on Cryptos
The Federal Bureau of Investigation’s (FBI’s) Supervisory Special Agent Kyle Armstrong revealed at the Crypto Evolved conference in New York that the government agency was investigating 130 different cryptocurrency related cases. These cases included a range of illegal activities such as drugs and human trafficking, kidnapping as well as ransoming. Each of these cases are connected to cryptocurrencies in some way.
One of the biggest areas where cryptocurrencies are being used are the opioid market. Agent Armstrong stated that about 10% of drug users across the world were using cryptocurrencies to buy their drugs of choice.
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Coinbase Creates Charity for the Unbanked
The Chief Executive Officer of Coinbase Brian Armstrong announced that he was launching a new non-profit organization which would focus on financially empowering people. This organization would also donate cryptocurrency to the unbanked across the world thereby helping them gain access to financial services. The organization, called GiveCrypto.org, is going to partner with other non-profit agencies and identify possible recipients who would benefit from these crypto donations.
GiveCrypto.org is hoping to raise $10 million by the end of this year and then increase that number to $1 billion over the next 2 years.
Find out more about this story here.
Total Market Cap: June 28
The volume of trade in the cryptocurrency market has continued to fall, with the figure now at $10.32 billion. The capitalization of the market is also at $246.87 billion.
Bitcoin Price Analysis: June 28
The Bitcoin price inched up by 0.45% to $6129.40 per token. The volume of trade for BTC has dropped to $3.20 billion and its market cap is $104.86 billion.
Ethereum Price Analysis: June 28
Since yesterday, Ethereum’s price inched up 0.05% to $436.15. Trading volume in is $1.29 billion and its market capitalization is $43.75 billion.
State of the Top 10 Cryptocurrencies: June 28
All the top ten cryptocurrencies of the world saw minimal gains today. EOS showed the highest gains with a 4.35% price increase, followed by Stellar, which gained 3.5%. Tether already lost its ninth position to IOTA as it showed only a 0.01% gain. TRON, at number 11 seems to be gearing up to oust Tether from the top ten list once again with a jump of 1.53% in its token price.
- Bitcoin gained 0.45% to a price of $6129.40. The asset’s capitalization is $104.86 billion.
- Ethereum gained 0.05% to a price of $436.15. The asset’s capitalization is $43.75 billion.
- Ripple gained 0.03% to a price of $0.4600614. The asset’s capitalization is $18.08 billion.
- Bitcoin Cash gained 0.89% to a price of $705.85. The asset’s capitalization is $12.14 billion.
- EOS gained 4.35% to a price of $7.91. The asset’s capitalization is $7.08 billion.
- Litecoin gained 2.54% to a price of $79.11. The asset’s capitalization is $4.52 billion.
- Stellar gained 3.5% to a price of $0.190332. The asset’s capitalization is $3.57 billion.
- Cardano gained 0.29% to a price of $0.125467. The asset’s capitalization is $3.25 billion.
- IOTA gained 1.39% to a price of $0.973296. The asset’s capitalization is $2.705 billion.
- Tether gained 0.01% to a price of $0.997488. The asset’s capitalization is $2.700 billion.