BitcoinInsider

Software developers Rosco Kalis and Gabriel Cardona have been steadily working on Cashscript, a high-level programming language for Bitcoin Cash. When the language is tied to certain opcodes, specific schemes can be built that allow for autonomous and decision-based transactions. While testing Cashscript's capabilities, the two engineers recently deployed an oracle, forfeits, an onchain wager, and a recurring payments contract. BCH Developers Are Innovating With Cashscript Bitcoin Cash (BCH) development is in full swing and over the last six months the tempo has really started to pick up. Things like the Simple Ledger Protocol, Schnorr signatures, opcodes, Cashshuffle, the programming language Spedn, and token dividend payments have galvanized the network's versatility. Another project that's seeing steady development is Cashscript, a high-level language for BCH created by the software developer Rosco Kalis. Since then, Kalis and other developers like Gabriel Cardona, the c

The Thai Securities and Exchanges Commission has warned the public against a new cryptocurrency scam that has been targeting Thai investors. As reported by the Bangkok Post, the new scam poses as a legitimate digital currency trading platform operating from overseas. The company, known as FX Trading Corporation is not authorized to operate in Thailand, a spokesperson for the SEC's Department of Special Investigations stated on Saturday. There are several other companies which are also involved in similar vices, he added, urging the public to be vigilant. The scams all claim to be operating from overseas and operate through online portals. So far, the extent of the losses accrued to these firms is unknown. The regulator further reminded the public that it has only authorized three companies to offer digital asset trading and one broker. The three are Satang Corporation, Bitcoin Co. and Bitkub Online. The only authorized digital currency broker in the country is Coins TH. The SEC wil

Top cryptocurrency exchange Binance is launching an open blockchain project "Venus" focused on developing localized stablecoins worldwide. In an announcement published today, Aug. 19, the exchange argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures. Leveraging existing know-how The exchange says it is seeking partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries The exchange's vision for the project, per the announcement, is to "build a new open alliance and sustainable community" that enlists partners who wield influence on a global scale. Binance Chain, as the announcement notes, has already been running several native asset-pegged stablecoins, including a Bitc

There are many reasons why the Philippines is becoming increasingly crypto-friendly. Not only has its central bank registered more crypto exchanges recently, but the Securities and Exchange Commission has also been actively finalizing crypto guidelines. The country has an active crypto community, and one of its largest banks has engaged in multiple crypto projects. Rising Number of Crypto Exchanges The number of approved crypto exchanges has been increasing in the Philippines. The country's central bank, the Bangko Sentral ng Pilipinas (BSP), has registered 13 of them so far: Betur Inc. dba Coins.ph, Rebittance Inc., Bloomsolutions Inc., Virtual Currency Philippines Inc., Etranss Remittance International Corp., Fyntegrate Inc., Zybi Tech Inc., Bexpress Inc., Coinville Phils Inc., Aba Global Philippines Inc., Bitan Moneytech Co. Ltd., Telcoin Corp., and Atomtrans Tech Corp. The latter two were added to the BSP's list of approved exchanges last month. The central bank adopted a f

Cryptocurrency exchange, Poloniex, has announced a scheme to reimburse users affected by a flash crash in May, which led to total losses of around 1,800 Bitcoin (BTC). In an Aug. 13 blog post, the company pledged to repay daily trading fees (in BTC) to impacted lenders until their losses are fully recovered. Payments will begin later in August and the first credit will include all trading fees incurred since the generalized losses were first recognized on June 6, 2019. Margin trading multiplies effects of flash crash Poloniex has a peer-to-peer margin trading system. Users can receive interest for sending their BTC to a lending pool, from which other users borrow to trade. Borrowers must maintain collateral. In late May, a little-known token named Clams (CLAM) crashed almost 80% in less than an hour. The unprecedented speed of the crash caused safety measures to fail in the automated liquidation system, designed to protect lenders' capital. The 1,800 BTC subsequently lost amounted

Over the last two years, cryptocurrency scamming on social media has been prevalent. In January 2019, it was reported that crypto impersonation scams on Twitter raked in millions in cryptocurrencies from people pretending to be well known blockchain personalities. Now a new form of deception can be seen on the platform, as scammers are using photoshopped pictures of tech personalities and businesses like Coinbase to further another crypto con game. There's a New Crypto Scam on Twitter There's a new swindle on crypto Twitter where scammers are sharing screenshots of well known cryptocurrency and tech luminaries promoting supposed BTC giveaways. Typically these fraudsters will use a very popular post with hundreds or thousands of likes and type the phrase "Great News." Underneath the user's text is a photoshopped picture of an announcement from Coinbase saying that it's offering a BTC giveaway. The tweets are a blatant scam in order to con a person into believin

Dozens of countries all over the world have used the same trick called redenomination to hide how they have stolen their own citizens' money through inflation or hyperinflation. The next nation to try this economic sleight of hand is the government of the Islamic Republic of Iran. Iran Cuts Four Zeros From Hyperinflated Rial According to recent media reports from Iran, the government in Tehran last week approved a major change to the country's fiat currency presented by the Central Bank of Iran (CBI) back in January. Four zeros will be cut from the Iranian rial and it will also be completely replaced, gradually and over a two-year period, by a new currency going by an ancient name, the toman. "The council of ministers, at a meeting presided by President Hassan Rouhani this morning, approved the central bank's proposed bill to change the national currency from the rial to the toman and delete four zeros," the Fars news agency reported on Wednesday. This decision wa