Today we have a Daily Token Review and three really awesome cryptocurrency news segments to share with you. When it comes to today’s news, first up, we have PayPal, a global centralized payments platform that has announced it’s making serious plans to join the cryptocurrency movement. Second up, draconian crypto regulations in India has forced blockchain projects like Wipro to start working with the Thai government. Thirdly, Justin Sun’s TRON blockchain project has just fixed a deadly bug that could have resulted in a 51% attack. If you guys are keen to hear about all of this, please make sure you stick around until the end!
Guys, apart from the great news, today we are announcing a series of giveaways. This week we are giving 10 dollars every day from Monday to Friday. You just need to comment below!! The winner will be picked at random. Stay tuned and don’t forget to leave your comment.
As seen on CoinMarketCap, we have a very red market as the Bulls are struggling to maintain momentum overall. The world’s flagship cryptocurrency, bitcoin (BTC) is falling by 0.29 percent. Ether (ETH) still maintains its “second in command” status and has decreased by 5.08 percent, a significant contrast to its growth gains yesterday. Ripple’s XRP maintains the number three position, and it has decreased by 1.45 percent. Now, if I scroll down to the top 20, we’re also having a very bearish market. Tron is, however, increasing well, gaining 2.70 percent whereas Cosmos is still decreasing at 7.07 percent.
Now, onto the news! According to a report by U Today, PayPal, a leading centralized payments company has revealed its developers are actively working on cryptocurrency and blockchain-powered payment solutions. Specifically, in an interview with Yahoo! Finance on May 7, PayPal Chief Financial Officer, John Rainey reiterated that the firm has dedicated teams working on cryptocurrency and distributed ledger technology (DLT), as PayPal has huge plans to integrate the nascent technologies into its operations in the near future.
In his words: “We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future. I just think it’s a little early on right now [on bitcoin].”
Rainey’s comments go a long way to show that the company believes in the potentials of cryptocurrency and blockchain technology, but it’s just waiting for the space to get more mature before joining the crypto bandwagon. While the 2018 slump in the price of bitcoin and altcoins may have made some institutional investors put their crypto market entry plans on hold, the recent rally by bitcoin and other digital assets is gradually restoring investor confidence, with firms like Fidelity Investments planning to launch their crypto trading operations in the coming weeks.
Now, onto the second news item for today! Per a report by Bitcoinist, Wipro, an Indian multinational corporation that renders information technology services to clients, has developed a blockchain-based payments solution to enable Thai banks to settle dues. Accordingly, the blockchain-based settlement system is part of the first phase of Project Inthanon, an initiative led by the Bank of Thailand and it’s aimed at implementing a Central Bank Digital Currency (CBDC) in the nation.
“The [blockchain] solution will enable decentralized interbank real-time gross settlement (RTGS) using wholesale Central Bank Digital Currency (CBDC) to prove that the technology can perform key functionalities of payment and enhance efficiency,” declared the officials in a statement.
While India has the second highest number of blockchain technology developers in the world, the government’s harsh policies and the blanket ban on all things related to cryptos has started making startups in the region to look for greener pastures elsewhere. With no real plans to put in place amenable regulations to govern firms in its cryptospace, there’s no doubt that other forward-thinking nations will keep developing their regions with India’s DLT talents.
Now, onto the third news item for today! A recent report by Cryptoslate has revealed that TRON recently “killed” a high severity bug that may have made the network susceptible to DDOS and 51 percent attacks.
Reportedly, the loophole was discovered earlier in January this year by Danish Shrestha, a software engineer. “Using a single machine, an attacker could send DDOS attack to all or 51% of the super representative (SR) nodes and render the Tron network unusable or make it unavailable,” declared Shrestha. Interestingly, Shrestha received $1,500 from the TRON Foundation for discovering the bug and the platform has resolved the issue.
So what are your thoughts on this situation?
Do you see PayPal integrating cryptocurrency in the near future? Will India have a change of heart towards cryptos anytime soon? And what do you think about the recent bug discovered on the TRON network? If you liked the content please subscribe and watch our latest videos. Once again guys, this week we are giving 10 dollars every day from Monday to Friday. You just need to comment below!! The winner will be picked at random. Stay tuned and don’t forget to leave your comment. It’s Cindy with CryptoPig, Catch you guys around!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.