The main events of the week in the bitcoin and blockchain-industry (17.09.2018 — 23.09.2018)

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Traditional Sunday digest ForkLog — found and fixed a critical vulnerability in the network of bitcoin, pending a decision on a bitcoin ETF, a new chip from Bitmain and rally Ripple.

Bitcoin

This week course is the first cryptocurrency demonstrated moderate growth, breaking the mark of $6700. Nevertheless, not without obstacles.

So, on September 19, reports of hacking of the Japanese stock exchange Zaif and stealing $60 million has provoked falling of quotations in the region of $6100, but then began a sharp rise to $6500, probably, against buying 5 million futures contracts on the exchange BitMEX $6469.2.

The next day there was an unscheduled release of the Bitcoin Core client 0.16.3, which has fixed a critical vulnerability that allows a DoS attack on the bitcoin network and bring down up to 90% of nod. The cost of such an attack would be only 12.5 BTC.

Later it became known that the exploitation of the bug, called CVE-2018-17144, appeared in November 2016 0.14.0 Bitcoin Core, could allow an attacker to artificially increase the emission of bitcoins, thus devalued coins. Some time the developers hid the scales resolved in the new release the problem to give the holders of nod time to upgrade.

Another bad news was the statement of the Commission on securities and stock exchanges of the USA (SEC) about another postponement of the decision on bitcoin ETF from VanEck, and SolidX. The Agency appealed to the community for more information.

It is noteworthy that such negative background does not affect the prices of the flagship market, which by the end of the week almost came close to the key resistance at around $6800.

Data TradingView

I should add that this week, Bitcoin Core developer Brian Bishop together with former representative of Morgan Stanley and functionary Ernst & Young approached the SEC with a request to coordinate regulatory policy with respect to corporate implementation of bitcoin, in particular — the integrated platform for digital asset Bakkt.

They warned about the dangers of storing the client’s funds in the single account and the cost of the old standards for custodial services. In addition, in their opinion, the concept Bakkt there is a place of shifting, when an organization claiming to speak certain funds and lends them to another organization, whereupon the latter says the same thing, which leads to additional risks.

“Do not consider bitcoin as in the usual financial instrument, because it is not. Do not use the old rules to the new system”, — said the former managing Director of Morgan Stanley’s Caitlin long.

Note that today , September 23, 2018 Honeybadger Baltic in Riga the leading representatives of the community was represented: the organization, The B Foundation, which will focus on attracting financing for the development of the bitcoin ecosystem and Lightning Network.

In addition, the B Foundation intends to oversee the development of privacy-oriented projects, marketing of bitcoin and solutions in usability and user experience, and also to sponsor student scholarship and bounty programs.

Another positive news was virtually unnoticed by ordinary people. We are talking about plans of the largest independent broker in Brazil XP Grupo to launch a bitcoin exchange XDEX in the coming months.

According to the company, at the moment, about 3 million Brazilians are investing in bitcoin, and only 600 000 inhabitants of the country — in the securities market, that literally drove Grupo XP to rethink priorities.

New developments in the field of mining

At the summit of the Digital World Mining Summit in Tbilisi, the Bitmain company introduced the high-performance 7-nanometer chip BM1391 energy efficiency 42 J/TH. The device Antminer next generation will already be equipped with a new development.

Another 14-nanometer chip for optimization of the presented mining company Bitfury Group. The invention received the name Bitfury ASIC Clarke. The developers claim that the new IC has the high performance for bitcoin mining available.

Chip fully optimized for bitcoin mining on SHA256. Hashing power is up to 120 wahahaha per second (GH/s) with power consumption of only 55 millijoules on gigaherz (mJ/GH). The required minimum voltage is 0.3 V.

During the Honeybadger 2018 Baltic in Riga, the operator of the Slush Pool — Braiins Systems, presented the alpha version of the operating system open source for mining devices called Braiins OS.

Development standartisied principles of operation of devices and their interactions with the Slush Pool, and also eliminates the possibility of introducing backdoors to activate the malware in the firmware.

“Good old” rally Ripple

Earlier in the week a representative of the company Ripple Sagar Sarbhai reported that a full-scale launch of the commercial version of the platform xRapid will be held “around next month.”

The solution is designed for payment providers and financial institutions seeking to improve the user experience and to minimize costs for cross-border payments and to increase the speed of the latter.

On the background of statements quotes XRP started the rally in the “best traditions” of the past year, and at some point the asset even managed to briefly shift Ethereum from second place in the list of CoinMarketCap, showing more than 100% growth. However, explosive growth followed by a correction.

Exchange

Rally XRP significantly revived trading volumes on several exchanges including Poloniex, Bittrex, Upbit, Bitstamp, Bitfinex, Binance and others.

Note that this week the exchange Binance announced plans to launch 5 to 10 trading platforms with the support of Fiat on five continents in the course of the year, presented the Bank’s platform for the aggregation of estimates blockchain projects, and beginning the process of placing on the market of an additional 32 million Binance token Coin.

Earlier in the week Poloniex has warned its users about delisting BitcoinDark (BTCD), Bitmark (BTM), Einsteinium (EMC2), GridCoin (GRC), NeosCoin (NEOS), PotCoin (POT), VeriCoin (VRC) and Bitcoin Plus (XBC), which will be held on September 25.

Russian bill and the status of mining

In the new edition of the Russian law “On digital of financial assets” there was no definition of “cryptocurrency”, and mining is categorized as a token issue for investment in capital.

The document also stated that the coins should be secured by the property of the Issuer or third parties, and to protect unqualified investors, the Issuer of tokens required to specify a maximum amount that they can buy assets.

In addition, the cryptocurrency exchanges will have to provide access to the customer data at the request of government agencies.

The most significant changes to the document specifically for magazine ForkLog commented the Director of the program of additional education Blockchain Lawyers Igor Suds.

The launch of the core network Tezos

Monday, September 17, the developers of the blockchain Protocol Tezos announced the launch of the core network of the project.

It is noteworthy that the launch of a viable version of the software was produced at the end of June. After that, the listing of several exchanges, there were tokens of the project Tezos under the Ticker XTZ.

However, only last weekend, the developers announced the completion of the pilot mode and the exit from beta.

Shortly after the launch of the core network on Monday, about the beginning of a trading token in pairs to BTC and USD exchange Bitfinex announced.

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