Bitcoin’s Monthly Recap of July 2015

Bitcoin’s Monthly Recap of July 2015

Welcome to HolyTransaction’s seventh monthly recap for the year 2015. This past month of July has been marked by several long awaited news and events; during that time, the bitcoin price fell from a low of $272.50 on July 1st to a high of $280.19 on July 31st, according to Bitcoin exchange Bitstamp.

Ethereum Genesis Block Released and Mining Begins
Ethereum promises to do for contracts what Bitcoin has done for payments, and its release marks a new frontier in crypto/bitcoin 2.0. In fact, Ethereum’s launch product was called ‘Frontier’ and along with an ingenious open source method for generating the genesis block, Ethereum has started its decentralized app network. Many have complained that the bare-bones, command line interface of the release is unnecessarily elitist and keeps the network small and limited to those with extensive technical know-how. Ethereum notably raised $18 million USD in late 2014, and is now on its way.

Proposed California Bitcoin Regulation Moves Forward In Better Light Than BitLicense
AB 1326, which is making its way through the California legislative process currently, has gotten a vote of approval from Bitcoin regulatory lobbying firm Coin Center. After receiving constructive criticism from Coin Center, the bill was amended to specify exactly that only companies holding customers’ funds need a license. Coin Center has a set state digital currency framework that it hopes to promote in each state. They, and the Bitcoin community, believe that companies that don’t hold customers’ funds should be free to innovate with the blockchain or a blockchain.

Bitcoin Malware on the Decline According to Kaspersky Report
A quarterly security report by the noted Kaspersky Labs has noted a lessening in the amount of Bitcoin malware since 2015 began. Kaspersky Labs is a noted security firm that has informed the public on many hacks in the past. Recently, Bitcoin malware such as cryptolocker has been used by hackers and has stricken people, corporations, and even governments across the world. Overall, in the 2nd quarter of 2015, Kaspersky Lab determined that 379,972,834 instances of computer infection occurred.

Former Reddit Employee Creating a New Decentralized Media Platform
A former employee of Reddit, Ryan X. Charles, plans to create a new app featuring a blockchain that would function like Reddit but be truly decentralized, getting rid of as many third parties as possible. Charles was initially hired by Reddit in 2015 to work on some sort of Reddit token; however, in the upper management tumult that rocked Reddit recently, Charles was let go and his project scrapped. Charles commented: “I’ve collaborated with a lot of other people to produce some of the fundamental software necessary to make a decentralized reddit. […] It’s not done yet and there is no prototype, but I would love to find collaborators to build something concrete.”

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