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Blockchain is being adopted by Forex


The foreign exchange market, also known as Forex, is implementing important changes, in this context, Blockchain technology is being adopted in the Forex market with the intention of providing greater security and privacy to users. Recall that this is a decentralized, global marketplace where currencies are traded.

New Forex exchange on Blockchain

For several years now, the Forex market has been a favorite for traders worldwide. Those who take advantage of the speed in which it moves, to generate profits daily and in an accelerated way.

Also the forex market is adding important changes. In this sense, a new forex exchange but based on Blockchain technology is about to come out.

It is an initiative of the Vanguard company. This aims to change the risk profile of currency transactions (FX) and also take advantage of the technical capabilities of Blockchain technology. This is how Blockchain is being adopted by this market.

Ethereum has been hacked for $ 5.2 million

Two transactions with massive fees were recently shipped on the Ethereum network. One user managed to spend $ 5.2 million on fees.

This has led to a lot of speculation by the crypto community, which reacts quickly when something is up and running. Other industry watchers have speculated that it could be an attempt to launder money or simply a mistake.

This is how a hack was instantly suspected. However, there are digital clues that have been hinting at a possible code or programming flaw, or even just an error.

Binance updates platform

The world’s leading cryptocurrency exchange, Binance, performed a scheduled system update that took approximately two hours.

However, Binance futures and options trading was not affected during the update period. Major improvements in this update included an overall improvement in system performance and stability.

The exchange reported:

During the update period, Binance will suspend deposits, withdrawals, spot and margin operations, P2P trading, OTC Portal trading, savings and redemption, as well as asset transfers from subaccounts, margin accounts, futures and wallet accounts fiduciaries ”.

In a few lines …

  • Spanish authorities have arrested several people related to ongoing investigations against crypto-controlled child pornography sites on the dark web.
  • Singapore’s blockchain developers Building Cities Beyond create an innovation grant to foster development in their ecosystem.
  • Crypto derivatives giant BitMEX announced that it would launch corporate services for clients on the exchange.

Blockchain News

Russia’s blockchain-based voting system for constitutional amendments has been attacked through an election observer node.

As reported by the state news agency TASS, the attack occurred on June 27.

A representative of the Moscow government told TASS that the attack did not cause the system to malfunction, which means that all electronic votes will be successfully recorded on the blockchain.

According to the official, cybersecurity experts were working to restore access to the attacked node. It is unclear whether it has been repaired so far.

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