Cryptocurrencies in June – Month in Review

Below you can find an overview of what happened in June in the world of cryptocurrencies – brought to you by SimpleFX CFDs trading platform. Whether you took some time off following the news and you’d like to catch up, or you just want to go over last month’s highlights, this article is for you. For us, June was a month when SimpleFX expanded mobile trading offer and launched a brand-new affiliation panel. Now let’s take a look at other highlights of the month.

Launching the EOS mainnet was the event that attracted the most attention in the cryptocurrency sector, likely due to its unique characteristics. Block.one, the company that initiated the project, gathered around 4 billion dollars throughout a year. It subsequently aimed to make the code open-source and turn the governance of the system to the public. As for mining, it intended for 21 block producers to verify transactions, who are meant to be chosen by voting of the network participants, with the votes weighted depending on how much EOS they own. As one could have expected, things did not exactly go according to plan. It took a while from the time the mainnet was launched until the 21 block producers were chosen, allowing the system to go live. Also, there were some controversies about freezing several accounts, which made the decentralized network seem oddly centralized. Having said that, all these bumps do not change the fact that it is arguably one of the most unique cryptocurrency experiments in recent months and it will be interesting to see how the self-governance of this ecosystem further develops.

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China public TV broadcaster, CCTV aired an hour-long TV show on the blockchain. Its host went so far as to say that blockchain has a potential ten times that of the Internet. And although there were some negative remarks, the overall impression was heartwarming, especially that it came from Chinese state TV.

Another sign that blockchain is going to permeate all aspects of our lives comes from a patent registered by Northern Trust and is related to minutes of meetings. In short, they have envisioned a situation where smart contracts record the attendees as well as their assigned actions with deadlines and store it on a blockchain. Once this goes mainstream, stepping out of a meeting early to avoid additional tasks will stop serving its purpose.