Jasper Proves Accelerated Payments Possible
Project Jasper, a collaborative venture between Payments Canada, TMX Group, the Bank of Canada and Accenture, has just proved that it is possible to instantly settle as well as clear securities on-ledger. The project showed that both central bank cash as well as assets could be tokenized to fulfil instant settlements on stocks using distributed ledger technology (DLT).
Project Jasper is a joint effort between the four entities to see how DLT could be used to improve the payments system as well as experiment with the development of a DLT-powered integrated payment and securities platform.
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Bing to Ban Crypto Ads from July
Microsoft’s internet search engine, Bing has announced that it will ban cryptocurrency related ads by July 2018. According to the official blog post, the reason for banning crypto related ads is because of the unregulated nature of the industry, which poses a threat for its users. The statement announced that because of the lack of regulations in the crypto industry, their users could be subject to scams and fraud.
Bing said that the ban would be implemented worldwide from June onwards through to July.
Read more about this here.
Bitcoin Cash Hard Fork Activated
The anticipated Bitcoin Cash hard fork took place using the Median Time Past (MTP) for its initiation, and went live with its next block after MTP time stamp of 1526400000, at exactly 16:14 UTC.
With this new upgrade, the block size of BCH’s Blockchain has gone up from 8MB to 32MB. The upgrade also added or reactivated the network’s Bitcoin script Op codes. All developers were informed of this upgrade well in advance on April 1 and were also told that this upgrade was but the first of many planned upgrades. Developers were asked to upgrade all BCH full nodes and that all major exchanges as well as wallets were being notified of the changes that were to be made. The new upgrade was explained as paving the way for future adoptions and new functionality was being added.
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Total Market Cap: May 16
The trading volume in the cryptocurrency market for the last 24 hours stayed more or less the same at $22.38 billion. The crypto market’s capitalization dropped once again below the $400 billion mark to $376.94 billion.
Bitcoin Price Analysis: May 16
BTC’s price dropped again to $8252.54, a drop of 5.58% from yesterday. Trading volume was at $6.99 billion, and BTC’s market value fell to $140.64 billion.
Ethereum Price Analysis: May 16
Ethereum’s price fell 5.92% since yesterday to trade at $688.41. ETH’s trading volume is $2.59 billion and its market cap is $68.46 billion.
State of the Top 10 Cryptocurrencies: May 16
Market volatility continued in the last 24 hours with all the top ten cryptocurrencies falling in token price as well as market capitalization. The worst performers were EOS, whose price fell 13.2% and Bitcoin Cash, which dropped by 11.32%.
- Bitcoin’s price fell 5.58% to trade at $8252.54 and its market cap is $140.64 billion at this time.
- Ethereum’s price fell 5.92% to trade at $688.41 and its market cap is $68.46 billion.
- Ripple’s price fell 7.86% to trade at $0.685388 and its market cap is $26.86 billion.
- Bitcoin Cash’s price fell 11.32% to trade at $1261.01 and its market cap is $21.6 billion.
- EOS’s price fell 13.20% to trade at $12.36 and its market cap is $10.61 billion.
- Litecoin’s price fell 6.76% to trade at $136.54 and its market cap is $7.72 billion.
- Cardano’s price fell 9.71% to trade at $0.247802 and its market cap is $6.42 billion.
- Stellar’s price fell 8.68% to trade at $0.334627 and its market cap is $6.21 billion.
- IOTA’s price fell 3.07% to trade at $1.89 and its market cap is $5.24 billion.
- TRON’s price fell 9.40% to trade at $0.065827 and its market cap is $4.32 billion.