Here’s is your recap of all the recent happenings that grabbed the attention of the crypto world.
Bitcoin Cash SV
On this past Monday, Bitcoin Cash SV saw a strange happening as transactions were overwritten on two of its blocks. Why this might have happened? It could have been due to the stress test conducted on the chain, as suggested by Coindesk.
Bitcoin Cash SV’s blockchain was put under a stress test as 24 million transactions were relayed onto the network by the Bitcoin Cash Professional Stress Test group. As a result of this test, the nodes fell out of sync which caused a mini-fork of the network.
The reorganization then occurred as nodes in the network tried to re-merge the competing chains. Also, this issue might have occurred due to the large block size kept by Bitcoin Cash SV.
Bitfury Boardings
Bitfury is a well-renowned software producer and crypto miner group. In recent moves, it added a former member of the United States Securities and Exchange Commission (SEC) to its board of advisors. Annette Nazareth, the former SEC commissioner, has been selected by the company.
Besides, Antoine Dresch, who is the founder of Korelya Capital, has been added to the company’s board of directors.
All these developments were announced on Tuesday and now, the company has gained experienced individuals. It will be interesting to see how these resources help the company in the long run.
Insurance And Crypto
As suggested by a news source, the insurance coverage for startups roaming around in the crypto space may total to a value of $6 billion. This amount is very low for a world where around $1 billion of trades is carried out on three of its leading exchanges each, and that too every day. Despite going through a rough patch, the overall market capitalization is $140 billion.
Insurance carries significant importance in the eyes of the institutional investors that are now getting attracted towards this space. Besides custody, which is the main focus of most of the major institutions, insurance remains pretty important overall. Major importance is carries by theft insurance, in case someone is able to run off with some exchange’s private keys.
With so much insurance gap, it will be interesting to see how this world progresses as more and more institutional investors start entering it.
SEE ALSO: Bitcoin Price: What is Up With It?
