A short brief of the main news of the cryptocurrency industry for 11/03-13/03

A short brief of the main news of the cryptocurrency industry for 11/03-13/03

  • 1. In the Monero cryptocurrency blockchain, which is focused on anonymity of transactions, the update # 1788000 was successfully activated on block.
    According to the developers, the network has protection now against the «big bang» attack, based on the dynamic block size algorithm. Futhermore,there was increased cryptocurrency resistance to mining by dint of ASIC devices.

We have to note, hashrate of network has significantly decreased along with the update. Most likely, this is due to the fact that not all users have updated the software.

  • 2. The company Electric Capital, which is engaged with the cryptoactive assets management, published the data of a new research, according to which, The Ethereum is the most active cryptocurrency by the number of developers.

There were examined more than 20,000 repositories and 16 million individual code changes during the analysis. There is asserted, that on the code in the Ethereum repositories is made by 216 developers per month on average.

At the same time, 50 people work on a bitcoin code per month an average. However, it should be worth considering, that third-party projects of ecosystem participants weren`t taken into account, duringi the calculating these data.

It is also should be noted, the fault of the cryptocurrency market should have hit the entire industry, on ecosystem participants and investors especially, however, the number of active developers dropped by only 4% despite on the protracted downtrend.

 

  • 3. In the meantime, SEC Commissioner Hester Pierce at MIT Bitcoin Expo 2019 said that the cryptocurrency market needs to be self-regulated, while everyone is waiting for a regulatory framework for a cryptocurrency market, which is likely to contribute to institutional investors and, accordingly, help deploy a downward cycle.

«We haveto understand that people regulate each other through interaction with each other. This is the main goal of Bitcoin – a community that can regulate itself. If there would be any problems, so the ecosystem participants can solve it by themselves. One option would became a state regulator, but as it seems to me , this is far from the only model» she said.

 

 

  • 4. On Tuesday, March 12, the largest cryptobirth in terms of trading volume, Binance conducted the next system update. It was assumed initially that the whole process would takes 8 hours, but the site managers were able to do it faster.

 

«We can predict the result, but not alsways the timing of the work. The update was completed on 2 hours before the deadline» has wrote Changpeng Zhao (CZ), The head of Binance, on Twitter.

 

 

  • 5. It became known a couple days ago , that the Swiss Stock Exchange (SIX) plans to add another cryptocurrency ETP to its platform, based on the XRP price.

«We are confident that in the next two months we will launch the first in the world ETP on XRP» said Hany Rashwan, co-founder and The Head of Swiss-based Amun AG, which already offers several cryptocurrency ETPs.

In addition, Amun received permission from SIX to release at least four ETPs which are connected to the price of BCH, LTC, XLM and EOS. However, the launch date has not yet been announced.

 

 

  • 6. On Monday morning, March 11, the cryptocurrency public was surprised at the rather strange message on Twitter. The user under a nickname Whale Alert, who is known for constantly publishing data on large transfers of cryptocurrencies in public blockchains, has wrote: «A transaction of 1,000,000,000,000 coins was made on the EOS network, which is approximately $ 3.66 trillion».

Over time, the account owners in the comments to this post indicated that this transfer was not made.

«An EOS user under a nickname «fuckhacker.x» made a large fake transaction, but the EOS system seemed to be able to detect and neutralize it. Nevertheless, the transaction was transferred to the network before it was removed» wrote Whale Alert.

It is also reported, that the Whale Alert algorithm was tricked due to the so-called deferred transaction. It does not impose any obligations on the sender, but only promises that in the future a certain amount will be transferred.

 

 

  • 7. Ross Sandler, The Barclays analyst, expressed his opinion, that the Facebook`s stablecoin will bring the company from $ 3 to $ 19 billion till 2021. He notes, the success mainly depends on whether the coin will be actively used for micropayments and digital content distribution.

 

 

  • 8. On Monday, March 11, Roskomnadzor blocked the monitoring of Bestchange.ru exchangers by decision of the Kuybyshevskiy District Court of Omsk, which found that the information on the site is prohibited. The decision states that there is only one official monetary unit in the Russian Federation territory – the ruble, and the introduction and use of other currencies and surrogates is prohibited. According to the court, cryptocurrencies are precisely those and Bitcoin in particular. They contribute to the growth of the underground economy and therefore should be banned for using.

It is also should be noted, that the decision to block the monitoring was made last summer, but it was put into effect only on March 11.

 

 

  • 9. The Central Bank of Russia plans to limit operations with cryptocurrencies for unqualified investors, and operators of crypto sites and will oblige to exchange data about their customers.

It is reported that transactions for unqualified investors should be limited by the amount of their investments, as well as the total value of tokens and cryptocurrencies, which were transferred in exchange. In this case, we are talking only about coins issued in the territory of Russia within the future law.

 

 

  • 10. Jay Clayton, The chairman of the US Securities and Exchange Commission (SEC), said that the Ethereum and similar to it cryptocurrency in its characteristics are no longer securities, although they could have been earlier.

«The status of a cryptocurrency as a security is not a constant attribute. A digital asset can be distributed initially as a security, but lose all the properties described in the Howie test subsequently» he said.

 

 

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  • 1. In the Monero cryptocurrency blockchain, which is focused on anonymity of transactions, the update # 1788000 was successfully activated on block.
    According to the developers, the network has protection now against the «big bang» attack, based on the dynamic block size algorithm. Futhermore,there was increased cryptocurrency resistance to mining by dint of ASIC devices.

We have to note, hashrate of network has significantly decreased along with the update. Most likely, this is due to the fact that not all users have updated the software.

  • 2. The company Electric Capital, which is engaged with the cryptoactive assets management, published the data of a new research, according to which, The Ethereum is the most active cryptocurrency by the number of developers.

There were examined more than 20,000 repositories and 16 million individual code changes during the analysis. There is asserted, that on the code in the Ethereum repositories is made by 216 developers per month on average.

At the same time, 50 people work on a bitcoin code per month an average. However, it should be worth considering, that third-party projects of ecosystem participants weren`t taken into account, duringi the calculating these data.

It is also should be noted, the fault of the cryptocurrency market should have hit the entire industry, on ecosystem participants and investors especially, however, the number of active developers dropped by only 4% despite on the protracted downtrend.

 

  • 3. In the meantime, SEC Commissioner Hester Pierce at MIT Bitcoin Expo 2019 said that the cryptocurrency market needs to be self-regulated, while everyone is waiting for a regulatory framework for a cryptocurrency market, which is likely to contribute to institutional investors and, accordingly, help deploy a downward cycle.

«We haveto understand that people regulate each other through interaction with each other. This is the main goal of Bitcoin – a community that can regulate itself. If there would be any problems, so the ecosystem participants can solve it by themselves. One option would became a state regulator, but as it seems to me , this is far from the only model» she said.

 

 

  • 4. On Tuesday, March 12, the largest cryptobirth in terms of trading volume, Binance conducted the next system update. It was assumed initially that the whole process would takes 8 hours, but the site managers were able to do it faster.

 

«We can predict the result, but not alsways the timing of the work. The update was completed on 2 hours before the deadline» has wrote Changpeng Zhao (CZ), The head of Binance, on Twitter.

 

 

  • 5. It became known a couple days ago , that the Swiss Stock Exchange (SIX) plans to add another cryptocurrency ETP to its platform, based on the XRP price.

«We are confident that in the next two months we will launch the first in the world ETP on XRP» said Hany Rashwan, co-founder and The Head of Swiss-based Amun AG, which already offers several cryptocurrency ETPs.

In addition, Amun received permission from SIX to release at least four ETPs which are connected to the price of BCH, LTC, XLM and EOS. However, the launch date has not yet been announced.

 

 

  • 6. On Monday morning, March 11, the cryptocurrency public was surprised at the rather strange message on Twitter. The user under a nickname Whale Alert, who is known for constantly publishing data on large transfers of cryptocurrencies in public blockchains, has wrote: «A transaction of 1,000,000,000,000 coins was made on the EOS network, which is approximately $ 3.66 trillion».

Over time, the account owners in the comments to this post indicated that this transfer was not made.

«An EOS user under a nickname «fuckhacker.x» made a large fake transaction, but the EOS system seemed to be able to detect and neutralize it. Nevertheless, the transaction was transferred to the network before it was removed» wrote Whale Alert.

It is also reported, that the Whale Alert algorithm was tricked due to the so-called deferred transaction. It does not impose any obligations on the sender, but only promises that in the future a certain amount will be transferred.

 

 

  • 7. Ross Sandler, The Barclays analyst, expressed his opinion, that the Facebook`s stablecoin will bring the company from $ 3 to $ 19 billion till 2021. He notes, the success mainly depends on whether the coin will be actively used for micropayments and digital content distribution.

 

 

  • 8. On Monday, March 11, Roskomnadzor blocked the monitoring of Bestchange.ru exchangers by decision of the Kuybyshevskiy District Court of Omsk, which found that the information on the site is prohibited. The decision states that there is only one official monetary unit in the Russian Federation territory – the ruble, and the introduction and use of other currencies and surrogates is prohibited. According to the court, cryptocurrencies are precisely those and Bitcoin in particular. They contribute to the growth of the underground economy and therefore should be banned for using.

It is also should be noted, that the decision to block the monitoring was made last summer, but it was put into effect only on March 11.

 

 

  • 9. The Central Bank of Russia plans to limit operations with cryptocurrencies for unqualified investors, and operators of crypto sites and will oblige to exchange data about their customers.

It is reported that transactions for unqualified investors should be limited by the amount of their investments, as well as the total value of tokens and cryptocurrencies, which were transferred in exchange. In this case, we are talking only about coins issued in the territory of Russia within the future law.

 

 

  • 10. Jay Clayton, The chairman of the US Securities and Exchange Commission (SEC), said that the Ethereum and similar to it cryptocurrency in its characteristics are no longer securities, although they could have been earlier.

«The status of a cryptocurrency as a security is not a constant attribute. A digital asset can be distributed initially as a security, but lose all the properties described in the Howie test subsequently» he said.

 

 

Subscribe our pages on social networks and stay tuned for new posts and don`t miss anything interesting:

Twitter: https://twitter.com/JournalCDC

Telegram: https://t.me/JournalCDC

Instagram: https://www.instagram.com/journalcdc/

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