Ethereum to Spend an Eye Popping $30 Million as Price Hits Its Stride

By CCN: The Ethereum Foundation announced it is committing $30 million over 12 months as it continues to build Ethereum 2.0. The nonprofit is spreading the funds “on key projects across the ecosystem” with a focus on Ethereum 2.0 (Plasma), supporting Ethereum 1.0, and developers. The foundation holds 0.6% of all ETH in addition to cash on hand. The Ethereum price took the baton from bitcoin and surged to an eight-month high last week. ETH is up nearly 60% in May alone. Ethereum 2.0 is no facelift Ethereum 2.0 is a transformative undertaking involving a great number of partnerships with developers,

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Researcher Nears Launch of Ava, a Crypto & Potential Ethereum Killer

By CCN: The crypto ecosystem often explores which blockchain will emerge as the ‘Ethereum killer.’ So far, no network has been able to muscle the second-biggest blockchain off its perch, but now there’s a new kid in town – Ava, and it has Bitcoin, Ethereum, and even Visa in its sights. Ava is a new cryptocurrency that uses a consensus protocol known as Avalanche, whose creators similar to Bitcoin are anonymous only they go by Team Rocket. Avalanche is designed to combine the “best of both worlds” from the Nakamoto Consensus and Classical Consensus, according to Cornell University Associate Professor Emin

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Microsoft’s Blockchain Obsession, Including ID Push, Is Good for Bitcoin

By CCN: Does Microsoft consider blockchain to be the strongest technology in the world? Who knows, but they sure seem to recognize its growing mainstream status and view it as a potential moneymaker. The company recently announced that it would be building a decentralized identity (DID) network on top of the Bitcoin blockchain, the oldest and arguably most trusted blockchain within the space. The network will be built in accordance with standards set by the Decentralized Identity Foundation, which Microsoft claims can overpower the “throughput issues” commonly witnessed on the Bitcoin blockchain. How Can Bitcoin and Blockchain Be Improved? Microsoft

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Huge! Amazon-Owned Whole Foods Buoys Crypto by Accepting Bitcoin

By CCN: There’s no shortage of possible catalysts behind the spike in the bitcoin price is. You can now add Jeff Bezos’ Amazon to the list. Whole Foods, which is owned by the e-commerce behemoth, is now accepting bitcoin as a payment method. The mind-blowing development was made possible thanks to a deal between payments startup Flexa and Gemini, the latter of which is the crypto exchange launched by Tyler and Cameron Winklevoss. Users only need to download an app dubbed Spedn and can make everyday purchases using cryptocurrencies including bitcoin, ether, Bitcoin Cash, and Gemini Dollar (GUSD). Considering that

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Facebook’s Secret Cryptocurrency Led by PayPal Alumni Just ‘Months Away’ from India Launch

By CCN.com: Facebook’s much-hyped cryptocurrency project, dubbed Project Libra, may launch in India within a matter of months, according to a Bloomberg report. The secretive blockchain project, led by a team of PayPal alumni, is expected to launch a stablecoin for sending peer-to-peer payments to friends and family as well as integrating with major e-commerce players. Famed investor Mike Novogratz this week called Facebook’s looming service “stunningly important” to the crypto space. If executed correctly, he said, Facebook’s payment service will be a “big, big deal” and lend credibility to cryptocurrencies. If Facebook launches the stablecoin they are reportedly building,

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Tim Draper-Backed Email Paywall BitBounce Attracts 4 Million Users

By CCN: Tim Draper appears to love anything that gives power back to the people. An eye-catching tweet on Saturday regarding email spam solution BitBounce is sure to generate a good deal of interest in this project. Draper sees this as a potential play on crypto mainstream adoption given its immediate real-world use case. He is named as an investor in the project. This video describes a new market for email. Very interesting. #drapervc https://t.co/GnaEMZd1aR — Tim Draper (@TimDraper) May 4, 2019 BitBounce Pays in Credo The low-key project has already amassed an impressive 4 million users. They are looking

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World Gold Council Blinks, Claims Bitcoin’s ‘No Replacement for Gold’

By CCN: Gold may have a value of $7.8 trillion, but it isn’t happy about giving any of that up to bitcoin, the latter of which has a market cap of $97.2 billion. A day after Grayscale unleashed its “Drop Gold promotion, a TV commercial that garnered 100,000 views in less than 24 hours, the World Gold Council is clapping back. Gold’s reputation as a store of value has gone pretty much uncontested for thousands of years – until bitcoin, which has earned the reputation as digital gold in addition to its use case as a currency. In a tweet,

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Bitcoin to Cannabis: Chinese Crypto Investor Pivots to Chase Higher Yields

By CCN.com: The widespread adoption of blockchain is taking longer than expected. The slow recovery pace of the cryptocurrency industry is forcing blockchain investors to look for alternative sources of revenue to keep their business afloat. Some blockchain investors are now turning to cannabis to diversify their revenue stream. Tough times call for greener solutions Hong-Kong listed blockchain investor, Grandshores Technology, is diversifying its investment portfolio to include cannabis with a 40 percent investment in Hangzhou Yupu Trading. The demand for cannabis is likely to increase shortly as more countries legalize the medicinal and recreational use of cannabis. Among its

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British Baroness’ $325 Million Luxury Bitcoin Development Suffers Delays

By CCN: Scottish lingerie tycoon and parliamentarian Baroness Michelle Mone seems to be stuck in a second failed crypto venture. Her £250m ($325 million) condo development in Dubai that would be sold for bitcoin is on hold. Government officials who’ve visited the site of what The Sunday Times calls a “bitcoin bolthole” say construction has stopped. Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. But the development remains stalled at 25% complete since last January, according to the developer’s website and promotional materials. The £250m development was advertised to

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E-Trade One-Ups Rival, Readies Launch of Bitcoin Trading for Millions

By CCN: E-Trade is about to offer bitcoin and ether trading, bolstering its securities platform for 5 million customers, a source familiar with the matter told Bloomberg Friday. The securities brokerage firm appears to be taking the approach that ‘if you build it, they will come.’ That plus their rivals are doing it. We know this guy’s going to be happy about the news: Competition Among Crypto Trading Platforms Heats Up The traditional Wall Street firm enters a crowded field of early movers in the crypto trading space, including leaders such as Coinbase and Square’s Cash App. Nathaniel Popper, a

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