Crypto-Chaos After Segwit2x Developers Cancel the Fork
The Segwit2x fork has been canceled, which seems to be giving a sense of relief to many bitcoiners worldwide. The fork which aimed to upgrade bitcoin was different than the August bitcoin cash fork as the upgrade aimed to be its own network. Segwit2x planned on being bitcoin but didn’t receive enough consensus for the change even though the working group had over 80 percent of miners on its side.
“Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x,” explains the Segwit2x working group announcement letter signed by Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees.
Coinmama’s Weekly Roundup
Sweden’s Financial Supervisory Authority Issues ICO Statement
Governments and regulators have been concerned about the recent Initial Coin Offering hype sweeping the world. Just recently Sweden’s Financial Supervisory Authority (FSA) revealed that currently most of these token sales are unregulated and they are “not under the supervision of regulatory authorities.” Sweden’s FSA says there is “no guarantee that the token or cryptocurrency launched really gives the proprietor any kind of right or claim against the publisher.” Just like the rest of the world regulators, Sweden’s financial authorities plan to regulate the unsupervised token sale models.
Well Known Musician Bjork Will Accept Cryptocurrencies for Her New Album
According to reports, the celebrity and musician, Bjork, plans to accept bitcoin, litecoin, dash, or audiocoin for her new album called “Utopia.” After making the purchase, Bjork fans will also receive 100 free audiocoins to go with her new record. One of the organizers of Bjork’s crypto-acceptance is the CEO of Blockpool, Kevin Bacon. Bacon explains, “this isn’t about jumping on a bandwagon or trying to get rich quick. It’s about doing things where you use blockchain and the crypto benefits in ways that people haven’t thought of yet.” According to Bacon Bjork is embracing the future of money.
Ethereum Wallet Parity Suffers From Multi-Sig Bug
The developers of the multi-sig Ethereum wallet Parity are having issues again with the client software. Due to a significant vulnerability over $150M worth of ether has been frozen including the creator of Parity Dr. Gavin Wood’s Polkadot ICO funds. “It would seem that issue was triggered accidentally 6th Nov 2017 02:33:47 PM +UTC and subsequently a user suicided the library-turned-into-wallet, wiping out the library code which in turn rendered all multi-sig contracts unusable since their logic (any state-modifying function) was inside the library,” explains the Parity team.
Deloitte’s Latest Report Reveals 26,000 New Blockchain Projects
Blockchain projects are continuing to grow exponentially according to Deloitte’s recent report the “Evolution of Blockchain Technology: Insights from the GitHub Platform.” According to the study over 26,000 new blockchain projects have been initiated since last year. So far there is a grand total of over 86,000 blockchain ventures on the Github developer repository. However, filtering through what blockchain is active or not can be difficult. “The stark reality of open-source projects is that most are abandoned or do not achieve meaningful scale. Unfortunately, blockchain is not immune to this reality. Our analysis found that only 8 percent of projects are active, which we define as being updated at least once in the last six months,” Deloitte explains.
The Chicago Board Options Exchange (CBOE) Says ETFs Will Follow Futures Markets
Two of the largest FX exchanges worldwide are planning to offer bitcoin futures and options markets. Last week CME Group revealed its derivatives products based on bitcoin indexes would be launched during Q4 of 2017. The Chicago Board Options Exchange (CBOE) is also launching a bitcoin-based futures program this year. According to Chris Concannon, CBOE’s president of the derivatives, explains after the futures markets become solidified exchange-traded funds will become a reality in the U.S. “With regulated futures of a certain asset class like a bitcoin, you do have an opportunity to introduce ETFs, and over time we do envision ETFs coming to market,” explains the CBOE executive Concannon.
Overall cryptocurrency proponents seem pretty optimistic now that the fork has been canceled. The price is staying above the $6K region and individuals think it will rise more after mainstream investors flock to CME and CBOEs futures products. If anything its safe to say that a target price of $10K per bitcoin is still on our radar if there’s a mainstream tipping point this year.
Coinmama’s weekly review is always on a mission to find the very best topics of interest being discussed within the digital currency space. Follow us here every week to keep up-to-date with current events concerning Bitcoin, Ethereum, and blockchain technology innovation.