There have been a handful of forks from the main Bitcoin Network over the past few months, and that seems to be continuing into the new year. Bitcoin Interest plans to fork at block 505083, on January 22, 2018.
Japan’s Mitsubishi UFJ Trust and Banking is preparing to launch a service that will protect cryptocurrency holders if the exchanges they use shut down or are hacked, reports Japan-based online publication Nikkei Asian Review.
The banking giant will keep matching records from cryptocurrency exchanges of customers who opt-in for the scheme. In the event the exchange fails or is compromised, Mitsubishi UFJ will compensate its clients for their losses according to the records they maintain.
Nikkei reports that the service will start with Bitcoin trading and could launch as early as April. Crypto exchange users who opt-in to have their funds protected by the Mitsubishi UFJ will be charged a fee for the service.
However, as CEO of Tokyo-based exchange Bitbank Noriyuki Hirosue asserts, the extra fee may be an easy price to pay for those who prefer to trust traditional financial institutions:
Move comes less than two weeks after high-profile digital currency exchange in Seoul was hacked and went bankrupt
The Digibyte/Bitcoin market skyrocketed after breaking resistance at 0.000006 on May 21 at Poloniex. It took the market 13 days to climb to an all-time high of 0.00002669 on June 3. That’s an astronomical 344.83% increase in value in less than half a month. Unfortunately for traders who bought at this level, sellers took advantage of Digibyte’s rapid ascent to dump their positions and take profits.
If you are thinking about incorporating Bitcoin, Ethereum and other cryptocurrencies into your investment portfolio, you are certainly not alone. As the price of Bitcoin surged past even the most optimistic predictions, the largest cryptocurrency exchange reported that more than…