Cryptocurrency News

German luxury car maker, Audi AG is currently testing Blockchain technology on its financial and its physical distribution processing. Audi is hoping to increase the security as well as transparency of its global supply chain using this solution.

Despite the fact that it is still in its beta stage, developers from all across the world are devoting time and resources to the Lightening Network to help build the foundation for a more scalable version of Bitcoin, the world’s first, most valuable and oldest cryptocurrency.

Sharding is defined as a kind of partitioning of huge databases into smaller, quicker and more easily managed segments that are called data shards. The basic concept behind this theory is that as the size of a database grows, the quantity of transactions per unit of time made in a linear fashion also increases. Since the transactions are linear, the response time obviously increases exponentially.

According to BitcoinMagazine, South Korea could end up becoming the world’s first crypto-powered country. Meaning, it could be the country with a widespread adoption and acceptance of cryptocurrencies and is the epicenter of crypto innovations. It would also mean that the country runs enterprise-level blockchain infrastructure that is also scalable. And most importantly, the government and the crypto industry are not at loggerheads with each other.

Monero has been making headlines across the world with its war on big business. According to Coindesk, the developers of the privacy oriented cryptocurrency Monero are doing all they can to prevent the Antminer X3 from being used for mining the crypto.

Coindesk released a report with regard to Venezuela’s new cryptocurrency – Petro. The Petro is reportedly the first ever government-backed cryptocurrency which has been made available to the public. However, investors are being strongly advised to say no to this crypto. Here is a list of reasons why so many are against investing in this cryptocurrency.

Coindesk reported on Saturday that the Office of Foreign Asset Control (OFAC), may be putting digital currencies on the Specially Designated Nationals (SDN) list. This announcement could actually radically alter the entire dynamics of the cryptocurrency world.

In the last few months, one of the biggest points of criticism against Bitcoin mining is its immense energy costs. According to Bitcoin critics, the process of mining for Bitcoin is sucking up huge amounts of energy, which in turn are shooting up energy costs.

Coindesk reports that the cryptocurrency Zcash is now gearing up for its first hard fork, slated to take place later this year in June. This hard fork has been dubbed Overwinter and is generating a lot of excitement in the community.

According to a report by Coindesk, Ripple’s XRP could be the new futures market. While the Bitcoin futures contracts were launched with great fanfare last December by two of the world’s largest and most respected exchanges, CME and Cboe, most people aren’t even aware that Ripple’s XRP futures had already been trading for the last 18 months.