Review of the cryptocurrency market of 06/29/2018

The bitcoin drops below $6,000. The market’s main cryptocurrency fell below the psychologically significant barrier of $6,000 last night and has yet to recover. Bitcoin (Bitcoin) is being traded at around $5,864. It should be noted that it is not the only digital currency that is in negative territory. With the sole exception of Tether, the rest of the top 10 cryptocurrencies by market capitalization are in red.

Discovered a vulnerability in Tether’s code. China’s team of cybersecurity specialists SlowMist has discovered a vulnerability in Tether’s code that allows double spending, according to developers on their official Twitter account. Because of this vulnerability, when exchanges process deposits in USDT, the system may incorrectly verify the transaction and confirm it as completed even when funds have not been sent. As a result, the initiator of a transaction can use the tokens that are credited to him to negotiate in the exchange, while retaining his tokens.

Binance plans to open an exchange in Uganda. The Binance cryptocurrency exchange is intended to open a new branch in Uganda. The branch will provide services for the exchange of digital assets for fiat money, according to the exchange’s founder, Changpeng Zhao. According to this, Binance Uganda will be an independent structure but will maintain commercial relations with the main platform. The new exchange will use the code, operating systems and security measures of the original Binance platform.

Gigabyte video card sales down 20%. At an investor conference held on 27 June, Gigabyte representatives (TWSE: 2376) estimated that the company sold around 1 million video cards in the second quarter, 20% less than in the first three months of the year when it sold 1.2 million. Experts believe this is due to declining demand from the mining sector and tighter regulation. Gigabyte’s earnings in 2018 are still higher than last year’s, but it is impossible to know what will happen for the rest of the year.

Mastercard gets a patent for an anonymous blockchain transaction system. As can be seen from the description of the application on the website of the United States Patent and Trademark Office (USPTO), the transparent nature of conventional blockchain transactions has become an obstacle to the introduction of this technology in daily payments. For this reason, Mastercard has developed a solution that will make it impossible to track the individual transactions carried out on the blockchain.

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