Bitcoin Magazine’s Week in Review: Under the Microscope
This past week saw a flurry of reports and analyses released by various agencies and companies, speculating on the roles — past and present — of cryptocurrencies and blockchain technologies. Two big names in the blockchain industry are being scrutinized as they attempt to grow, and we put two privacycoins, Monero and Zcash, under the microscope.
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A remarkable number of reports were released this week that, together, contributed to a comprehensive picture of the cryptocurrency industry’s trajectory. Two of them focused on stablecoins.
Contrary to the conclusion of another study by John Griffin and Amin Shams that Tether was being used to manipulate the price of bitcoin, a new report by Dr. Wang Chun Wei of the University of Queensland Business School states that the effect of the stablecoin is statistically insignificant as far as bitcoin pricing is concerned.
At the end of the week, Blockchain released a study that examined both the positive and negative aspects of stablecoins, painting an overall picture of optimism for the budding asset class.
Another study tackles the subject of malicious mining, also known as cryptojacking, in the cryptocurrency space, and it points out that the problem is on the rise as bad actors become more sophisticated.
And finally, after a series of roundtable discussions, MIT Connection Science and IBM issued a 41-page joint report on the role of blockchain in government. The findings illuminate discussions held by private and public sector leaders on the blockchain’s impact for government on digital identity, payments and supply chain/provenance.
Think you know Bitcoin? Bitcoin Magazine has reissued its popular Bitcoin Quiz with 30 new questions at the Novice, Intermediate and Expert level. Study up and see how you fare.
Earlier this month, we reviewed Monero as a privacycoin. This week, we learned about a bug in its code that could have had some serious consequences had it not been patched in a timely fashion. Continuing our series on privacycoins, we examined Zcash this week, and our coverage has since generated some fiery discussion on social media.
Big Names, Big Plans
Two of the biggest names in the crypto space have made some big news. Coinbase began by introducing an application process to onboard new altcoins and then went on to announce a new series of educational resources and a product that allows customers to buy a bundle of Coinbase’s listed assets.
Potential investors got a peek at Bitmain’s IPO prospectus this week, but the information contained within may make them pause before deciding whether or not to take a chance on the mining giant’s future.