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cryptocurrency January 7, 2018

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The Ethereum Foundation is seeking outside developers to help solve its inability to scale. Photo from pedrosek.

Ethereum Exploring Two Solutions to Solve Scalability Problems

According to Computer World, the Ethereum Foundation is seeking outside developers to help solve its inability to scale. The creator of Ethereum, Vitalik Buterin, acknowledged in a blog post that “the need for scaling progress is becoming more and more clear and urgent.” Ethereum is exploring two possible fixes for the problem: sharding, which requires only a small percentage of nodes to see and process every transaction and/or layer 2 protocols, which would transfer data between nodes within a local area network (LAN) or an adjacent wide area network (WAN).

EnjinCoin (ENJ) Reaches Market Price of USD 0.45

EnjinCoin (ENJ) has reached a market price of USD 0.45. According to the Merkle, Enjin is planned for release as soon as today. The Enjin mobile wallet will supposedly have support for all of the ERC20 tokens listed on In addition, a Minecraft plugin that will allow custom servers to implement EnjinCoin and ENJ-minted virtual items. That plugin is planned for release in February 2018.

CNBC’s Brian Kelly and REX Shares Announce Partnership to Offer Cryptocurrency ETFs

According to Strategic Coin, CNBC contributor Brian Kelly and REX Shares have announced a partnership to launch cryptocurrency exchange-traded funds (ETFs). REX has already submitted files with the SEC to list both long and short funds that track the price of Bitcoin futures. Brian Kelly is a commentator on “Fast Money” and the founder of BKCM.

Texas Issues Cease and Desist Order to BitConnect

The Texas State Securities Board has issued a cease and desist order (C&D) to BitConnect. According to Crowdfund Insider, the Board alleges that BitConnect’s tokens in its upcoming ICO are unregistered securities. The C&D demands that BitConnect does not sell or solicit of any of its tokens to Texas residents.

Venezuelan President Announced Minting of 100 Million of Oil-Backed Cryptocurrency, Petros

Venezuelan President Nicolas Maduro has announced Venezuela will issue 100 million units of its new oil-backed cryptocurrency, Petros. According to Reuters, Venezuela’s creation of the cryptocurrency is an effort to circumvent U.S. sanctions, which have negatively impacted Venezuela’s access to international banks. Maduro has claimed that the Petro will be back by Venezuela’s oil, gas, gold, and diamond reserves.

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Source: ICO Alert