Zilliqa to Track Suspect Transactions in Own Chain

Team has joined forces with Elliptic startup to use their AML tool to make their platform more attractive to the corporate sector 
28 November 2019   192

Singapore-based Zilliqa has partnered with London-based Elliptic, which will allow the latter to control suspicious transactions on the Zilliqa network and XSGD stablecoin.

Zilliqa expects that the integration of an anti-money laundering (AML) tool will make the blockchain platform more attractive to the corporate sector.

Elliptic will track every transaction all the way to the source. If it turns out to be one of the purses previously noticed in the illegal activity, the system will issue a warning.

Earlier, Elliptic software implemented the Binance bitcoin exchange to strengthen legal compliance.

Chinese Bitcoin Miners Share to Reach 66%

Such superiority of Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency, expert believes
12 December 2019   86

Miners based in China currently control two-thirds of the total processing power of the bitcoin network. It is reported by Reuters, citing a fresh report by CoinShares.

In June, this value was 60%, reaching the highest level in December over the past two years, during which CoinShares tracks this data. According to the chief researcher of the company Chris Bendiksen, such superiority of Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency.

This is beneficial to the Chinese mining industry. If you are the first to increase your proportion of the hashrate, and you can do that before your competitors, that’s generally good.

Chris Bendiksen

Head of Research at CoinShares

As the publication recalls, such major mining equipment manufacturers as Bitmain, MicroBT and Canaan are also based in China.

CoinShares representatives also noted that since June, the bitcoin hash rate has increased by 80%, which was partially possible due to the high profitability of this activity and more powerful equipment.

Bitcoin Difficulty Chart
Bitcoin Difficulty Chart

Despite the harsh rhetoric of the Chinese authorities regarding cryptocurrencies, in November, the National Development and Reform Commission (NDRC) did not include mining in the list of “undesirable industries” that are subject to ban.