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Cryptocurrency End of Day Recap

Jul 06, 2018

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  • Chinese technology company, Xunlei – known as the BitTorrent of China, has announced a distributed file system to support blockchain systems. The system will be called the ThunderChain File System (TCFS). The TCFS will aim to combine aspects of IPFS and filecoin which adding security and flexibility. The company has claimed that its blockchain will be able to process millions of transactions per second.
  • Binance is expecting a profit of USD$500mm to USD$1bn according to its CEO. The revenue in the first half of the year was about USD$300mm. The exchange now has 10mm users and the average daily turnover is USD$1.5bn. Even though bitcoin has lost 52$ of its value this year, cryptocurrency exchanges are still turning profits. Binance will soon be expanding to Uganda, Bermuda and Malta to continue growing its platform.
  • A global blockchain consortium of telecom carriers announced that 6 other international telecom firms are joining. The Carrier Blockchain Study Group (CBSG) is a group that focuses on global remittance services. The group launched in 2017 and members include Softbank, Far EasTone, TBCASoft and Sprint. The consortium will provide new services covering cell phone, roaming wallet, secured clearing and settlement, personal authentication and IoT.
  • The distributed intelligent system laboratory of Shanghai Jiaotong University and BiXin announced they will join the HPB Node Ecoystem. The joint effort will complete a series of projects with HPB such as academic research, strengthening the HPB ecosystem, facilitating deep integration of blockchain technology and contribution to HPB nodes.