Digital Currency Weekly Recap 10-30-2016

digital currency

Digital Currency Weekly Recap 10-30-2016


LEOcoin Launches Android, iOS Mobile App

LEOcoin recently unveiled its new educational mobile app, with versions available for both the Android and iOS systems. The application is reportedly designed to provide users with useful information about blockchain and digital currency technology, while also providing timely updates about LEOcoin. Reports indicate that the app was downloaded more than a thousand times in just the first few days after it was released. The digital currency itself is targeted toward entrepreneurs, and claims to provide many of the same features and benefits offered by Bitcoin – security, anonymity, and transaction speed – but in a more accessible manner. Already, the Learning Enterprises Organization – the group responsible for the coin – claim that their community’s membership has expanded to more than 200,000 users and a firm base of merchants that accept the coin.

Vcash Claims to be Fastest Digital Currency on Market

In a recent press release, cryptocurrency Vcash laid claim to being the “fastest cryptocurrency out there” and suggested that its developmental progress is proceeding apace. The coin is being described as a more complete cryptocurrency than Bitcoin, which the press release described as suffering from limitations and imperfections. Vcash is promoting its “ZeroTime feature” by suggesting that transactions made with the currency can be completed without confirmation, and has announced that it is working on a new feature called ZeroLedger that will enable users to access and download the company’s blockchain in mere seconds.

Sachs Contributes to $10 Million nanoPay Funding Round

Canadian payment firm nanoPay recently raised ten million dollars in its Series A funding effort. Contributors to the funding round included banking giant Goldman Sachs, Rohatton, APAGM Services, and Jarnac Capital Management. NanoPay is the current owner of the cloud-based MintChip cryptocurrency, which had originally been created by the Royal Canadian Mint as part of its effort to digitize cash. NanoPay will reportedly use the newly raised capital to help fund its expanded rollout, develop new business relationships, and create new service innovations to gain increased exposure in the business-to-consumer and business-to-business markets – including services like cross-border payments.

BBC: Hackers Increasingly Attacking Smaller Crypto Startups

Recent reporting from the BBC indicates that hackers have been even busier than most people thought – and they’re not just focusing their attention on big digital currency entities like the DAO. In fact, the BBC notes that many of the attacks these days seem to be directed at smaller digital currency startups. And while they aren’t generally making off with the tens of millions of dollars they have received from attacking larger entities like the DAO and Bitfinex, they’re often getting away with several thousands of dollars at a time – which can be just as painful for smaller firms.

In its report, the BBC also highlighted Ethereum’s success in defending against the ongoing attacks it has experienced in recent weeks – and cited one computer scientist from Cornell who noted that the Ethereum team’s success is an indication that cryptocurrency is far more resilient than many critics suggest. Of course, that remains small comfort to some of the smaller enterprises that often lack the resources to consistently defeat these types of attacks.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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