Market Update 8.13.18 – Microsoft Looking to Use TEEs in Blockchain

| Publish date: 08/13/2018
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Microsoft Looking to Use TEEs in Blockchain

According to two of the latest patent filings, it seems that Microsoft is exploring the option of using TEEs (Trusted Execution Environments) for its Blockchain offerings. According to the data gathered by the US Patent and Trademark Office last week, a TEE is something that stores a pre-determined kind of Blockchain or protocol code within a validation node.

TEEs’ usefulness can be explained in two ways. First, they could help in the establishment of a consortium network on the Blockchain. By ensuring the TEE is set up in the first node of a Blockchain, it could ensure that only those who are listed on the TEE as members of the consortium will be allowed to use the network.

Find out more here.

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Tether Issues another $50 Million Worth of USDTs

According OmniExplorer, the controversial stablecoin project Tether has issued another $50 million worth of USDTs. It was just in March this year that the project had released $300 million worth of USDTs. According to the startup, each stablecoin is equal to a dollar.

In the last 30 days, the stablecoin has lost $300 million in market capitalization, going down from a figure of $2.7 billion to its current valuation of $2.4 billion. Despite that, the Tether is currently the second most traded cryptocurrency in the market after Bitcoin. The crypto is seeing trading volumes of $4.2 billion per day, which is 28.16% of all trading in the market now.

Read more about this report here.

22-Year-Old Crypto Million Loses 5,500 BTC in Scam

According to a local news report in Bangkok, 22-year-old Finnish cryptocurrency millionaire Aarni Otava Saarimaa lost more than 5,500 BTC in an investment scam in Thailand. This scam drew a lot of attention from the public as a famous Thai film actor was also allegedly involved in this “project”.

It seems that a group approached Saarimaa to invest in Thai stocks as well as a casino in Macau and a new crypto called Dragon Coin. They told the Finnish businessman that when the new crypto would be issued, it could be used in a casino. They took Saarimaa to the said casino to prove the validity of their claims.

Find out more about this story here.

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Total Market Cap: August 13

Trading volume has gone up to $16.36 billion and the cryptocurrency market has also seen an increase in its capitalization, which is up to $217.86 billion.

Bitcoin Price Analysis: August 13

Bitcoin’s price gained 1.2% in the last 24 hours to $6433.67. The digital currency’s capitalization is currently 110.85 and its volume of trade is $6.38 billion.

Ethereum Price Analysis: August 13

Ethereum slipped 2.02% to a price of $320.07. Ether’s volume of trading is $1.68 billion and its capitalization in the crypto market is $32.49 billion.

State of the Top 10 Cryptocurrencies: August 13

The cryptocurrency market has been mostly green in trading so far today, with the altcoins, ETH (down 2.02%) and LTC (down 0.68%) being the only two from the top ten list to be in the red. The biggest gains were made by Stellar, which jumped up by 5.34% in the last 24 hours.

  • Bitcoin rose 1.2% to a price of $6433.67. The virtual asset’s value is $110.85 billion.
  • Ethereum slipped 2.02% to a price of $320.07. The virtual asset’s value is $32.49 billion.
  • Ripple rose 0.68% to a price of $0.309044. The virtual asset’s value is $12.14 billion.
  • Bitcoin Cash rose 2.74% to a price of $590.50. The virtual asset’s value is $10.20 billion.
  • EOS rose 0.05% to a price of $5.14. The virtual asset’s value is $4.66 billion.
  • Stellar rose 5.34% to a price of $0.236857. The virtual asset’s value is $4.44 billion.
  • Litecoin slipped 0.68% to a price of $60.32. The virtual asset’s value is $3.48 billion.
  • Cardano rose 0.71% to a price of $0.114936. The virtual asset’s value is $2.97 billion.
  • Tether rose 1.08% to a price of $1.01. The virtual asset’s value is $2.43 billion.
  • Monero rose 1.44% to a price of $96.46. The virtual asset’s value is $1.56 billion.
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