Coinmonks Letter #24, QuadrigaCX’s Collapse – Coinmonks – Medium
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Friends of Coinmonks Arnav Vohra released Coinsafe app recently, a non-custodial Bitcoin wallet with private key recovery option built into it launches in Beta. Users can recover their private key using their trusted devices in case of loss.
Quote of the Week-
“Don’t believe anything you read on the net. Except this. Well, including this, I suppose.”- Douglas Adams
Now let’s dive into this week’s best stories. 👇 👇
QuadrigaCX’s Collapse Was an Inside Job
When the QuadrigaCX cryptocurrency exchange sought protection from its creditors in early 2019, it made a claim that it was unable to achieve liquidity for ongoing operations, including customer withdrawals. For them to do so would require gaining access to their central reserves, they claim are “held in cold wallets required to satisfy customer cryptocurrency balances.”..Read more.
Death of WhatsApp Means Rise of Telegram and Cryptocurrencies
Though it has a public-facing Twitter feed, it has not posted since 2016 and often does not inform users of outages. It also has an official “WhatsApp Status” account that once tweeted about issues and when they would be fixed, but that has not tweeted since 2014 — despite a series of high-profile outages since then…Read more.
By Lance Ng
Ethereum 1.0 wouldn’t be undergoing a complete redesign unless it had major flaws. So how did we get here? And why did Bitcoin seem to fare much better? Two important factors are user experience and economics. At a minimum, for a product to succeed it needs to be a compelling alternative to an existing problem, and the transaction fee must not exceed the economic value of the actual transactions. Together these point to an upwards trajectory for Bitcoin and a downwards trajectory for Ethereum 1.0… Read more.
IOTA Meets Couchbase
The discussion of permanodes is one with a long history and is one that always seems to come back. With the release of local snapshots it becomes more and more uncertain if your data will stay alive for longer then 30 days in the tangle. However, with local snapshots separation of concerns also become possible! And this is really great! .. Read more.
Do you like subtitle? It’s a quote by Charles Leadbeater
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Disclaimer: We didn’t earn anything for mentioning CoinSafe, Arnav Vohra is friends of Coinmonks and we like to help our friends.