About 24 hours ago, Uphold sent out a mailer to all its users announcing the introduction of two new cryptocurrencies on its platform. The cloud-based financial services company will now support Litecoin and Ethereum. The company aiming at creating the ‘Internet of Money’ as it calls its vision is now a step closer to making it a reality. Uphold was started in 2013 by Halsey Minor, the technopreneur who founded CNET and played a huge role in Salesforce. This cloud-based service allows its users to send, receive and exchange money- both fiat and virtual, and commodities at no charge. The company was initially focused more on bitcoin before it broadened its horizons to include other currency types as well. Its support for bitcoin in the early days was…
Cryptsy used to be one of the more prominent Bitcoin and altcoin exchanges in the realm of digital currency, even though there have always been minor issues with the platform since day one. Things took a turn for the worse when Cryptsy owner Paul Vernon announced the exchange had lost several thousand Bitcoins, along with a lot of funds from altcoin balances as well. But it looks like the funds will be recovered, or is this just another move by Vernon to try and prove his exchange was hacked? Also read: SimpleFX – A Stock Exchange Designed for Bitcoiners Good Hacker Samaritan Returns Funds to Cryptsy Minus 13% Ever since the announcement by Paul Vernon was made regarding Cryptsy losing funds due to a hacking attempt, various digital currency community members…
Cryptsy, amid various accusations, lawsuits, and complaints have finally unraveled the cause of its multi-million dollar loss. According to its official blog post from an individual who demonstrated himself as the founder and operator of the exchange, the Cryptsy platform began to experience technical problems when the developer of Lucky7Coin allegedly placed an IRC backdoor into the code of the wallet, which acted as a trojan and control unit. “it was found that the developer of Lucky7Coin had placed an IRC backdoor into the code of wallet, which allowed it to act as a sort of a Trojan, or command and control unit,” said the founder. The Cryptsy team emphasized that this was a “critical event for Cryptsy,” but the team was able to handle it with the consistent…
Investors are always looking to put money into different assets to satisfy their diversification requirements. Equity investors are often seen maintaining a percentage of their portfolios in slightly unrelated asset classes such as gold and real estate. A small section of investors are also interested in buying artworks, antiques, and old coins, as they represent a completely different class, generally unaffected by today’s global turmoil. Now, the time has come to embrace another asset class called cryptocurrencies, which includes the likes of bitcoin, litecoin, dogecoin, and many others. Investing in cryptocurrencies requires an unprecedented level of research and analysis, because a majority of these cryptocurrencies are still new to the digital…
KPCB Edge has gone public with Edgecoin, a private blockchain project the investment firm will use to reward startup founders who help both KPCB and other portfolio members. With the formal launch, the early-stage investment firm, launched in June, will provide all its investors with an Edgecoin web wallet containing 10 edgecoins. As a first use case, founders who identify other entrepreneurs who they believe KPCB should invest in are able to spend their edgecoins as a way to signal their trust in that individual or team. KPCB Edge indicates that, following the transaction, it will set up a meeting with the recommended startup within 72 hours, with a full partner meeting taking place if possible. The company wrote in a blog post: “Edgecoin serves as a…