Electron Cash: problem found in Bitcoin Cash wallet

Minor problem found with Electron Cash when you first start it
02 August 2017   3481

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Electron Cash, new Bitcoin Cash wallet released on Monday, 31st of July, is a hardfork of popular Electrum wallet. 

As Bitcoin split really happened yesterday, the users showed an urgent need in Electron Cash. However, as the team reports in its blog, a minor problem was found:


Distributed database that is used to maintain a continuously growing list of records, called blocks

Thus, the problem occurs when Electrum Cash is started for the first time: the thing is that it will follow the wrong chain of the fork initially, the company details. The client is still completely usable, but it requires user action to select the Bitcoin Cash chain after first startup. 

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

According to the report, the problem seems to be that when Electron Cash doesn't find a local blockchain_headers file (which is the case on first start), it tries downloading it via http.

We forgot to change that url so it still points to a file that contains the legacy chain headers. When that file is downloaded, ElectronCash will disconnect from the BitcoinCash chain servers because they don't match what the downloaded file says. It then switches to using legacy electrum servers and verifies the headers and now follows the legacy chain.

Electrum Cash team

Electrum Cash team promises this will be corrected in future versions.

How to fix it?

According to the information provided by the developers' team, right after startup (or any time, really), go to the Network Window (it's reachable from the Tools menu or the Network indicator lamp on the lower right). On the Overview Tab of that window is a server list. If a chain split is detected (which should be the case), the servers are grouped by a branch id. Select the correct branch (the one that has servers electrum-abc.criptolayer.net and electroncash.cascharia.com) by right-clicking on the correct branch id (that long number with the @ sign in it) and select "Follow This Branch" in the popup menu that opens. Vuala, Electon Cash will then follow the BitcoinCash branch of the fork.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin