Crypto News Round-up September 27

MINE FLOAT
Crypto Mining Giant Bitmain to List on Hong Kong Stock Exchange

Crypto mining giant Bitmain, formed in 2013, has filed a draft application to list on the Hong Kong Stock Exchange. Bitmain is HUGE and has mining farms everywhere —it operates the world’s largest, and second largest Bitcoin mining pools, BTC.com and Antpool, and recently expanded by adding 11 new mining farms across China. The application also revealed the company bought a billion dollar’s worth of mining equipment at the market’s peak at the end of last year, which has been a drain on its books.

SCALING
Aussie Science Org’s Red Belly Blockchain Tops 30,000 TPS

Australian Government science organisation the CSIRO (they invented Wi-Fi you know!) achieved 30,000 transactions per seconds during tests of its Red Belly Blockchain on Amazon’s cloud computing network. The tests help solve the ‘scalability’ problem for many blockchains (meaning they can’t handle lots of transactions) by using a unique consensus mechanism rather than the ‘proof of work’ system that has affected Bitcoin and Ethereum’s ability to scale.

HIJACKED
At Least 25 Android Apps Hijack Your Phone to Mine Crypto

Sophoslabs claims it has discovered 25 apps on the Google Play store that contain malicious ‘cryptojacking’ code. These apps mine crypto surreptitiously in the background using your phone’s processing power. The apps have been downloaded and installed more than 120,000 times. Most contained variations of ‘Coinhive’

LAW’S FAIR
Regulate us or we’ll leave the US threaten crypto businesses

Gone are the days when crypto businesses wanted government to get out of the way of their anarchic new industry. This week around 80 crypto and Wall Street business leaders met with US lawmakers on Capitol Hill to demand swift and effective regulations — warning that a failure to do so would see blockchain businesses leave for more crypto friendly countries.

STATE COINS
Crypto Anarchy in the Ukraine

The National Bank of Ukraine plans to launch a state-backed digital stablecoin based on blockchain. The digital currency will be tied to the national fiat currency at a rate of 1:1, it will be centralized and remain under government control (thus disappointing pretty much every crypto-enthusiast). The bank hopes this will increase the rate of non-cash payments, reduce costs as well as prevent the growth of inflation.