Top crypto releases to watch at the beginning of July 2018

Top crypto releases to watch at the beginning of July 2018

Don't forget to mark these dates on your calendar: pay attention to Bitcoin Gold, VeChain and Augur

The beginning of July has not much to offer in terms of crypto releases, upgrades and hard forks. Top cryptocurrencies seem to be in a 'standby mode' while coins from the end of the list are trying to gain some speed.

Bitcoin gold (BTG) mainnet upgrade is scheduled for July 7, 2018

Bitcoin Gold is in the process of a mandatory Network Upgrade. The Testnet has been successfully upgraded via hard fork. The main goals of the forthcoming upgrade are ASIC resistance, safety, consistency, and regularity. Technical changes will include implementation of a new PoW (Equihash-BTG) and delivery of the improved Difficulty Adjustment Algorithm (DAA).

VeChain (VEN) — VeChainThor Mobile Wallet and X-Node Binding Service launch is scheduled for July 9, 2018

VeChain (VEN) goals and intentions are to adopt the go mobile strategy and, therefore, their VeChainThor Wallet will be the portal to all kinds of dapps on the VeChainThor Blockchain. They plan to make VET a migratable asset which can easily integrate with third-party wallets while retaining the X Node status of the individual.

Augur (REP) — Mainnet deployment and REP migration is scheduled for July 9, 2018

Augur’s contracts will be deployed to the main Ethereum network and the REP migration will begin on July 9th, 2018. The current REP token contract will be frozen indefinitely, and the automatic migration of REP balances will begin.


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China Launches Digital Bank Consortium Blockchain Investment Fund

A fintech company in China has launched a global digital bank consortium blockchain investment fund with the aim of creating a leading digital bank. China Turning Digital Cao Tong, Chair of Shenzhen’s Hande Financial Technology Holdings Co., Ltd (HDFH), made the announcement during the second China International Import Expo (CIIE) today in Shanghai, according to a press release. Delivering a key note speech, entitled “Global Investment Opportunities for China’s Digital Banks,” Tong said: Based on the investors’ accumulation of experience in the fintech sector, the fund plans to invest in and create a leading digital bank, through which it will build a global digital bank consortium blockchain. The first step is to invest in and digitally transform a bank. The second step is to build a global digital bank consortium blockchain, with the digitally transformed bank as the main node. Other parties involved in the launch are the Yillion Bank, one of four internet banks in China to receive permission from the government to engage in online credit business, and Zhongguancun Private Equity & Venture Capital Association (ZVCA). Working with domestic and international investors, the fund will be around $1 billion with a six-year investment phase and a two-year exit phase. With fintech and blockchain technology reserves and operational experience, HDFH’s Tong added that: “The fund empowers the targets through investment and fintech transformation, while building an innovative global digital bank consortium blockchain, achieving broader value for the participating digital banks.” Last month, the nation’s president Xi Jinping endorsed the blockchain, calling the country to “seize the opportunity” with embracing the technology. The race to launch the first CBDC Tong’s announcement comes at a time when China’s central bank, the People’s Bank of China (PBoC), has been working on its central bank digital currency (CBDC). In August, it was reported that the bank’s CBDC was “ready” after five years of development. Yet, in September, Yi Gang, governor of the PBoC outlined its plans for its CBDC, adding that despite rumors there was no launch date set for it. Earlier this month, though, founding managing partner of HCM Capital Jack Lee said that he expects China’s currency to launch in the next two to three months. What do you think of Tong’s comments? How do you think this will help China’s blockchain development? Images via Shutterstock The post China Launches Digital Bank Consortium Blockchain Investment Fund appeared first on

China has no intention of Embracing Any Public Blockchain: report

China’s state channel, CCTV released an investigative report on the state of Bitcoin (BTC) and crypto in the country on Nov. 18. According to translated tweets from Dovey Wan, Founding partner at Primitive Capital, the report warned citizens against investing in these “unregulated securities” terming them a “financial fraud and an illegal Ponzi scheme”. The Chinese government has been in the news lately regarding issues blockchain and cryptocurrency. In October, the Chinese premier, Xi Jinping, gave a hearty embracing speech on blockchain setting the market ablaze as Bitcoin (BTC) crossed $10K. Later in the month, the top political party, China’s People’s Party (CPP) announced plans to start the integration of blockchain across government agencies in a bid to support the speech made by their leader. The latest government entity to take a stand for blockchain is the official state news channel, CCTV, who ran a controversial investigative report on blockchain and cryptocurrencies on Nov. 18. While the report sided with blockchain, the sentiments on crypto were not all that positive. CCTV report: “Crypto is an illegal Ponzi scheme” In a thread of tweets, whereby Dovey highlighted the main points of the investigative report, (“Focus Report”), “blockchain not crypto” was the main backbone of the report. The report further goes on highlighting the evils of cryptocurrencies without specifically aiming at a particular coin. This is the ultimate highlight from this episode of 焦点访谈 (focus report) 🙊🙊🙊 TOLD YOU SO Blockchain, not crypto(currency) The good thing tho, it does not call out Bitcoin specifically as part of the “fraudulent cryptocurrency” — Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) November 18, 2019 Furthermore the narrator of the report, goes on to make fun of the explosive ICOs, IEOs and other capital raising techniques in the blockchain space comparing them to broken ATM machines. China’s insistent narrative on “blockchain not crypto” China has consistently made statements on the possibility of launching a digital currency and integrating blockchain technology to its systems. Notwithstanding, the government recently removed BTC mining from a list of things it was set to ban. However, the overall feel from the government is an acceptance of the technology but a denial of crypto. It’s pretty clear to me China has no intent to embrace any public open cryptocurrency at all and that’s why it’s always a Blockchain Not Bitcoin narrative And down the road a nationalization of related cryptocurrency infrastructure is inevitable (asic, mining, trading) — Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) November 18, 2019 According to a rough translation, Xi said this on cryptocurrencies, “Even though these [cryptocurrencies] seem to be lively and vibrant today, tomorrow they may all be on the list (of crime).” The post China has no intention of Embracing Any Public Blockchain: report appeared first on Coingape.

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