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Trump Officially Bars Citizens from Using Venezuelan Petro: Venezuela is currently holding an initial coin offering for the Petro, its very own commodity-backed, state-sponsored cryptocurrency. “From applications ranging from management of the electrical grid and utilities to how companies manage global supply chains, the potential for blockchain is truly revolutionary.” Developers, companies, and governments recognize the potential and have already starting to implement blockchains for many different uses,” the report read. “Blockchain technology offers a decentralized, secure, and efficient way to store almost any form of data across multiple platforms. “In order to keep the network efficient and stable,” Stellar founder Jed McCaleb said regarding the developments, “we need something like Lightning.”Ĭongress Issues Bullish Report on the Benefits of Blockchain: In a routine economic report, the United States Congress praises the potential of blockchain technology for legacy industries. The announcement comes less than a week after Lightning Labs released a beta for Bitcoin’s LN. Stellar Looks to Adopt the Lightning Network: One of the market’s top 10, Stellar Lumens, will begin integrating Lightning Channel’s protocols onto its network.

When calculated, it amounts to 46% of all ICO projects having already entered the crypto graveyard. According to a study by, out of 902 crowd sales which took place in 2017, 142 didn’t make it past the funding stage and 276 since failed. Roughly 50% of 2017’s ICO’s Have Already Failed: It turns out everyone who warned you to be wary of ICO’s were right. In an email with CNBC, general manager of Blockchain at IBM Marie Wieck wrote: “our expertise in building and scaling networks is invaluable and will be shared across a wide ecosystem.” IBM made it clear they will focus on distributed ledger technology, not cryptocurrencies. IBM Announces Blockchain Starter Plan Solution For Businesses: IBM recently unveiled their new product that allows anyone to build distributed ledgers. Currently, McCaleb is attempting to set up such a network through Stellar.

There Will be a Universal Payments Network by 2028, Says Jeb McCaleb: CTO and co-founder of Stellar Jeb McCaleb doesn’t know which blockchain network will dominate the universal payments system in the future, but he does believe it will involve a “public ledger that people can see and can’t change arbitrarily”. Dorsey has already contributed $2.5 million towards an SF startup focused on advancing the Lightning Work. He strongly believes that in the next ten years, updates like the Lightning Network will help bitcoin overtake competitors. I personally believe that it will be bitcoin”, said Twitter and Square CEO Jack Dorsey. Twitter’s CEO Believes Bitcoin Will Be the World’s Sole Currency: “The world ultimately will have a single currency, the internet will have a single currency. With an asking price of $0.64, it’s down 8% from the $0.70 it sported last Friday. Ripple: This week, Ripple’s price action is smack in the middle of crypto’s top two. Now, it’s at $526, a 15% decrease over the seven day period. Last week, it came into Friday morning trading strongly at $622. But hey, it’s still in the green, and that’s something to be thankful for.Įthereum: Ethereum hasn’t faired so well compared to big bro Bitcoin.

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Some sideways price action would be a blessing for the coming weeks, so feel free to say some prayers for a little consolidation and a flat-lined price chart.īitcoin: At the time of this writing, Bitcoin is trading for $8,570, a whopping 1% increase from its $8490 price coming into this week. That said, it could also find some balance by trading at a less volatile equilibrium. Right now, it’s waiting for a tipping point–whether that be up or down is anyone’s guess. Not the biggest recorded loss by any means, but it shows that the market is still teetering on the edge. Until yesterday, the market cap climbed above its position from the prior week, but after losing a couple $10bln, it’s at $324bln, a 3% loss from last Friday. Sitting at a $336bln market cap last Friday, the market dropped to $275bln by Sunday, only to steadily rebound for the rest of the week following the G20’s cryptocurrency-focused summit. Well, we best hope he’s right, because the cryptocurrency market could use a lil providence right about now. “When the praises go up, the blessings come down,” Chance the Rapper tells us.