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Market Analysis Report
03 July 2017
Friday Fall and Sunday Rally for Crypto Markets
The crypto markets saw a Friday sell off and Sunday upswing with most markets in the green at present. Ethereum was more volatile than Bitcoin as worries surrounding the state of the network and ICO's abound. The lows of the previous weeks sell off have not been reached.
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Delaware Passes Historic Blockchain Legislation
The State of Delaware has passed amendments to the state law that make explicit the rights of individuals to trade stocks via a blockchain. With the bill passed almost unanimously all that is needed for it to be enacted into law is for the State Governor John Carney, to sign the bill at the end of July with an effective date of the first of August. Chair of the corporate law section of the Delaware bar association Matthew O'Toole said:
"We look forward to helping Delaware corporations enjoy the benefits of this innovative new amalgamation of law and technology."
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Tezos Raises Over $150m
Tezos a decentralised blockchain that governs itself by establishing a digital commonwealth through providing a built in mechanism for stakeholders to make distributed and collective decisions about upgrades and even changes to the initial protocol. The ICO has rasied over 41k BTC and 180k ETH - which gives a total of raise of over $150 million. The ICO has 10 hours remaining.
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Nick Johnson ICO Fix Plan
Ethereum Foudnation Developer says ICO's can be fixed as problems with whales ousting small investors through Pre-ICO sales or paying large transaction fees to gain priority access to smart contracts. His idea is to reduce the time sensitivity of ICO's so that there is no fear of missing out and that the price you bid is not influenced by the price that other people are paying - this is a form of Vickrey auction where the owner sets the maximum amount of tokens or ether to raise and subsequently calculates the optimal price for a token based on the bids.
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Classic Ether Wallet Social Engineering Hack
The popular Ethereum Classic Wallet has been compromised by a social engineering hack. The attack vector was made by a hacker who called the wallet's web host in Germany and managed to convince them he was the website owner - it is not clear how this occurred. The hacker then changed the domain to point to a web server he owns and can therefore receive their transactions.
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