Cryptocurrency Highlights Of The Week

Bitcoin exchange MtGox might be revived, and the SegWit2x fork seems to have officially failed. Here are the cryptocurrency highlights of week 46:

  • In a surprising turn of events the former CEO of MtGox, Mark Karpeles has suggested that he may consider a revival of the exchange that resulted in the single largest Bitcoin loss in cryptocurrency history, and which is currently in bankruptcy. On his personal blog Karpeles soft-pitched the idea of a MtGox ICO to restart the exchange. For the company to be revived, Karpeles suggests some important things that would need to happen. This includes that creditors would need to ‘cooperate more,’ a comment that may not sit well with those who have had substantial losses from past mismanagement.

  • The Segwit2x bitcoin fork may have been formally called off, but as many as 150 nodes continued running its code during the planned fork, and subsequently stopped accepting transaction blocks. Data from Bitnodes showed that nodes running 2x software got stuck at block number 494,782. The stoppage appears to be driven by an issue in the code that prevented miners from actually producing a larger-than-1 MB block that would push nodes running Segwit2x into its own chain. Amid growing discussion in the project’s Slack channel, developer Jeff Garzik released a patch aimed at easing the creation of a bigger transaction block.

  • For the second time in less than three weeks, a lawsuit has been filed against the founders of the Tezos project. Pursued in the U.S. District Court in Florida, the suit alleges Tezos founders Arthur and Kathleen Breitman deceptively sold unregistered securities in violation of both federal and state law when they raised $232 million in an initial coin offering (ICO) in July. The filing names the husband-and-wife pair, the Tezos Foundation and Dynamic Ledger Solutions – the Delaware-based company that holds Tezos’s intellectual property – as defendants. Further, it accuses them of fraudulently and deceptively marketing the sale of the platform’s native token “Tezzies” as charitable contributions and then pocketing “tens of millions of dollars” for themselves.

  • Ethereum developers are looking to use code for their experimental Casper proof-of-stake protocol as the basis for a new test network. During a core developer meeting, ethereum founder Vitalik Buterin said that not only is Casper ready to be tested, but that it could provide a security boost when testing code across clients. It’s a prospect that could come as a relief to developers, particularly those working on projects that must interface with the network’s varied client offerings. This is because the only cross-client test environment, Ropsten, is currency built using proof-of-work (like the main ethereum network), and because there are so few miners supporting that particular chain, it’s a frequent target for attack.

  • Compared to the previous week the price of Bitcoin has increased by more than 20 percent, with the exchange rate currently at about $7,749 per BTC. The price is Bitcoin Cash is at $1,282 per BCH, up two percent compared to the previous week. The price of Ethereum increased by almost 11 percent the same period, with Ether trading at a rate of $338 per ETH. Ethereum Classic lost about 6 percent, with the price decreasing to $17.73 per ETC. Zcash gained 21 percent. One ZEC is now trading at roughly $301 per coin.

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