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Cryptocurrency Midday Report

Jul 24, 2018



  • Binance, the world’s most popular cryptocurrency exchange, will soon enter the South Korean market. During the Blockchain Partners Summit in Seoul, Binance CEO Chanpgeng Zhao held a speech noting that Binance will enrich South Korea’s community. While Binance has not made any official announcements regarding the expansion, South Korean media outlets reported it following the summit.
  • A New Jersey-based cryptocurrency mining startup, called Honeyminer, has released its free beta platform in June, and has amassed 10,000 downloads around the world already. The platform allows users to mine cryptocurrencies on their Windows laptops by running the app while the processor isn’t in use.  Users will be able to mine Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR), and Zcash (ZEC), but all earnings are transferred into Bitcoin (BTC) and sent to the user’s wallet.
  • Since cryptocurrencies became popular several years ago, not many cryptocurrency platforms (i.e. exchanges and wallets) have conducted third-party security audits. However, three-month-old XMR Wallet, a web wallet for Monero (XMR) has announced its conclusion of an audit by the firm New Alchemy.  Additionally, XMR Wallet has published the results of its audit, and stated that all issues found have already been resolved.
  • ConsenSys, a blockchain technology company, has signed a Memorandum of Understanding (MoU) with China’s Xiongan New Area government. ConsenSys focuses on the development of Ethereum (ETH), and will be advising the government on blockchain solutions to make Xiongan a smart city. China’s president Xi Jinping has designated Xiongan a special economic zone and believes that by creating a smart economy using Ethereum, it could bring in USD$348 billion within the next 10 years.