Amid IRS bounty and competitor progress, Monero developers ship a major update

First announced in September, Monero developers today went live with a network update featuring a new version of its node software, codenamed ‘Oxygen Orion.’ The product of 30 contributors, the update promises significant improvement across nearly all aspects of the privacy-focused cryptocurrency’s performance.  The highlight of the new update is the compact linkable spontaneous anonymous group (CLSAG) feature. According to the Monero blog, CLSAG will reduce transaction sizes by 25% and improve transaction times by 10% while maintaining transactional privacy. The developers wrote:  “CLSAG enables smaller and faster transactions with…

Read More

Lightning Network TVL Record Demonstrates Progress – Bitcoin Magazine

This article originally appeared in our Weekly Bits newsletter. If you want our news and analysis before anyone else, make sure you subscribe now! This week, the Lightning Network set a new record for the dollar value held in its payment channels at $12.6 million, according to data shared by Bitcoin Visuals. This metric is also known as the total value locked (TVL) in Bitcoin’s second layer payments solution and demonstrates the amount of money that users have moved into the channels, which let them quickly and efficiently transmit value to…

Read More

Government Official Updates Progress of India’s Cryptocurrency Law

A government official has reportedly confirmed that a “note” regarding the legal framework for cryptocurrency in India has been forwarded to related ministries for inter-ministerial discussions. It would then be presented to the cabinet for approval. Status of Indian Crypto Bill India’s cryptocurrency bill is back in the limelight on Tuesday after Moneycontrol reported on a “note” that seeks to “ban trade in cryptocurrency,” citing an unnamed government official. On the condition of anonymity, the official explained that the Indian government has been holding consultations with the law ministry, the…

Read More

Litecoin Mimblewimble Integration Sees Test Build and Codebase Progress

The lead developer on the Litecoin Mimblewimble (MW) project, David Burkett, has now built a functional testing framework and started to integrate the development work done so far into the Litecoin codebase. According to a May 1 report on the Litecointalk forums, the project to implement the MW privacy enhancements into Litecoin has reached an important milestone with the build of a test-bed. Burkett claims that he has also run some end-to-end validation tests through the framework. “I’ve built out a functional testing framework that builds valid headers, blocks, and…

Read More

Crypto Staking Wallet Offers 1.5% Daily Returns: Ponzi in Progress?

A cryptocurrency staking wallet that offers users as much as 1.5% daily returns is bearing striking resemblance to a Ponzi scheme. That’s according to a Medium article published on April 19 by Jan Kowalski which warns readers to steer clear of an app known as StakedWallet. The website offers Proof-of-Stake “investment opportunities” wherein the user’s daily payout increases the longer they keep their funds staked. Staking payouts begin at 0.6% per day, and increase to 1.5% after nine months. Seemingly effortless daily returns such as these have been a hallmark…

Read More