Overview Of The Top News In The Cryptocurrency Industry Over The Past Few Days (05.06-06.06)

Overview Of The Top News In The Cryptocurrency Industry Over The Past Few Days (05.06-06.06)

1. According to anonymous sources, Jihan Wu, co-founder and ex-director of the mining industry giant Bitmain, plans his own project -Matrix.

According to the information received, the company will provide custody and credit services, and Bitmain will be the main client. In general, the choice is clear: the mining company generates a large amount of cryptocurrency that needs to be stored somewhere.

 

2. The Israeli company ZenGo is developing a first-of-its-kind wallet without private keys and passwords. The development is based on biometrics and distributed key storage.

ZenGo conducted a round of financing in which it was possible to raise $ 4 million from Samsung, Benson Oak, Elron, Zcash, Tezos and Zilliqa. According to the developers : «decentralized security protocols along with distributed keys management mean that there is no single point of failure, «sid» or mnemonic nonsense, and also vulnerable password system for hacking».

«This wallet will not have any security problems that are currently represented by other companies» Ouriel Ohayon, co-founder of the company, said. «Up to the current time, people had a choice of two evils: to answer for their own mistakes or to blindly trust a third party and, in which case, shift the blame on it».

 

3. P2P-Bitcoin exchange «HodlHodl» added support for payments «Lightning Network».

 

4. According to the new study of the blockchain-startup «ANChain.AI», 75% of transactions in decentralized EOS applications are carried out by bots. Moreover, 51% of the unique addresses belong to them as well. They are mainly used to increase the ranking of decentralized applications or to test profitable strategies in gambling.

In general, this trend is not shocking news, because transactions are free on the EOS network, so there is nothing to prevent making any number of fake transfers.

 

5. The date of Facebook`s cryptocurrency announcement is getting closer. The Information reported that this could happen by the end of this month. Moreover, the company plans to transfer partial control over the project to outside organizations, so that it is not fully centralized. But for this, they will have to pay at least $ 10 million in order to be able to act as a node of their own Global Coin blockchain and confirm transactions.

 

6. Against the background of negative dynamics in the cryptocurrency market, more and more negative outlooks appear. Bloomberg believes that the correction may continue.

According to analysts, this is evidenced by the GTI Vera Convergence-Divergence indicator, which is engaged in tracking positive and negative trends. It issued a signal to sell bitcoin for the first time since April.


7. Meanwhile, it became known that new Ethereum-based debt instruments provided by Cadence will be added to Bloomberg Terminal.

This is the first time that a supplier of financial instruments on the blockchain receives a global financial instrument identifier (FIGI).

 

8. According to the research company Diar, more than half of the trading with stablecoin USDT is carried out on the Chinese cryptocurrency exchanges.

This year, transactions with USDT totaling more than $ 10 billion were made in China, which is 60% of the total. If we compare with the United States, then the figure is only $ 450 million.


9. Thaddeus Dryja, co-author of Lightning Network, has published the data of the new solution, which is designed to scale Bitcoin.

Utreexo, which Dryja has been working on for the past few months, is a UTXO dynamic battery. The essence of it is that network participants will check the status of blockchain consensus rules with small sets of cryptographic evidence.

 

10. The Central Bank of Ukraine has created a small amount of the national e-currency -e-hryvnia, which will be based on the blockchain.

The website of the financial institution says that the project aims to test international experience gained in this area. E-currency transactions have been tested by several working groups with the participation of the NBU, volunteer companies and the World Bank. As a result, representatives of the Central Bank make a conclusion that the e-hryvnia can be considered as an alternative to existing retail means of payment. However, it’s too early to talk about involving people of this country to the system.

The most interesting thing is that the NBU is considering two options for issuing new money-centralized and decentralized. In the first case, everything is clear, but in the case of decentralized emissions, people themselves will create an e-hryvnia under the supervision of a financial institution.

 

11. NEO will move to an updated Byzantine Fault Tolerance consensus algorithm (dBFT 2.0).

dBFT 2.0 allows you to guarantee the completion of the transaction and also has a new recovery method, due to which bad blockchain nodes can return to the network with minimal downtime.

Also in the update they added the «adoption phase», which forces the nodes to send transactions to one new block. This will avoid the problem of block branching. The network will be more stable and the transactions «really irreversible».

 

12. Jay Clayton, the head of the US Securities and Exchange Commission (SEC) said, that the regulator is dealing with the Bitcoin-ETF issue, but at the moment there are still «a couple of problems».

The first is the issue of storage. The second is related to the application of rules in the financial industry to the cryptocurrency market.

 

13. In the last review, we reported that Justin Sun won dinner with a billionaire and famous Bitcoin opponent Warren Buffett for $ 4.57 million. He`ve got the opportunity to invite a few people with him and he called a well-known Bitcoin supporter Andreas Antonopoulos, but he refused.

«I’m not going to play the role of PR crypt for well-known investors» he said.

 

14. Startup Kadena has created a new programming language Pact, the task of which is to securely and easily develop smart contracts on the blockchain. This is the third version of Pact and its main feature is that it supports the cross-running execution of smart contracts between private and public keys.

Pact 3.0 supports simple payment verification (SPV), that is, smart contracts based on it can independently verify transactions.

 

15. Wei Zhou, Binance financial director, has announced that the exchange plans to launch its own stablecoin within two months.
The first is called Binance GBP and will be tied to the British pound. In the future, it is planned to launch stable coins tied to currencies of other countries.

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1. According to anonymous sources, Jihan Wu, co-founder and ex-director of the mining industry giant Bitmain, plans his own project -Matrix.

According to the information received, the company will provide custody and credit services, and Bitmain will be the main client. In general, the choice is clear: the mining company generates a large amount of cryptocurrency that needs to be stored somewhere.

 

2. The Israeli company ZenGo is developing a first-of-its-kind wallet without private keys and passwords. The development is based on biometrics and distributed key storage.

ZenGo conducted a round of financing in which it was possible to raise $ 4 million from Samsung, Benson Oak, Elron, Zcash, Tezos and Zilliqa. According to the developers : «decentralized security protocols along with distributed keys management mean that there is no single point of failure, «sid» or mnemonic nonsense, and also vulnerable password system for hacking».

«This wallet will not have any security problems that are currently represented by other companies» Ouriel Ohayon, co-founder of the company, said. «Up to the current time, people had a choice of two evils: to answer for their own mistakes or to blindly trust a third party and, in which case, shift the blame on it».

 

3. P2P-Bitcoin exchange «HodlHodl» added support for payments «Lightning Network».

 

4. According to the new study of the blockchain-startup «ANChain.AI», 75% of transactions in decentralized EOS applications are carried out by bots. Moreover, 51% of the unique addresses belong to them as well. They are mainly used to increase the ranking of decentralized applications or to test profitable strategies in gambling.

In general, this trend is not shocking news, because transactions are free on the EOS network, so there is nothing to prevent making any number of fake transfers.

 

5. The date of Facebook`s cryptocurrency announcement is getting closer. The Information reported that this could happen by the end of this month. Moreover, the company plans to transfer partial control over the project to outside organizations, so that it is not fully centralized. But for this, they will have to pay at least $ 10 million in order to be able to act as a node of their own Global Coin blockchain and confirm transactions.

 

6. Against the background of negative dynamics in the cryptocurrency market, more and more negative outlooks appear. Bloomberg believes that the correction may continue.

According to analysts, this is evidenced by the GTI Vera Convergence-Divergence indicator, which is engaged in tracking positive and negative trends. It issued a signal to sell bitcoin for the first time since April.


7. Meanwhile, it became known that new Ethereum-based debt instruments provided by Cadence will be added to Bloomberg Terminal.

This is the first time that a supplier of financial instruments on the blockchain receives a global financial instrument identifier (FIGI).

 

8. According to the research company Diar, more than half of the trading with stablecoin USDT is carried out on the Chinese cryptocurrency exchanges.

This year, transactions with USDT totaling more than $ 10 billion were made in China, which is 60% of the total. If we compare with the United States, then the figure is only $ 450 million.


9. Thaddeus Dryja, co-author of Lightning Network, has published the data of the new solution, which is designed to scale Bitcoin.

Utreexo, which Dryja has been working on for the past few months, is a UTXO dynamic battery. The essence of it is that network participants will check the status of blockchain consensus rules with small sets of cryptographic evidence.

 

10. The Central Bank of Ukraine has created a small amount of the national e-currency -e-hryvnia, which will be based on the blockchain.

The website of the financial institution says that the project aims to test international experience gained in this area. E-currency transactions have been tested by several working groups with the participation of the NBU, volunteer companies and the World Bank. As a result, representatives of the Central Bank make a conclusion that the e-hryvnia can be considered as an alternative to existing retail means of payment. However, it’s too early to talk about involving people of this country to the system.

The most interesting thing is that the NBU is considering two options for issuing new money-centralized and decentralized. In the first case, everything is clear, but in the case of decentralized emissions, people themselves will create an e-hryvnia under the supervision of a financial institution.

 

11. NEO will move to an updated Byzantine Fault Tolerance consensus algorithm (dBFT 2.0).

dBFT 2.0 allows you to guarantee the completion of the transaction and also has a new recovery method, due to which bad blockchain nodes can return to the network with minimal downtime.

Also in the update they added the «adoption phase», which forces the nodes to send transactions to one new block. This will avoid the problem of block branching. The network will be more stable and the transactions «really irreversible».

 

12. Jay Clayton, the head of the US Securities and Exchange Commission (SEC) said, that the regulator is dealing with the Bitcoin-ETF issue, but at the moment there are still «a couple of problems».

The first is the issue of storage. The second is related to the application of rules in the financial industry to the cryptocurrency market.

 

13. In the last review, we reported that Justin Sun won dinner with a billionaire and famous Bitcoin opponent Warren Buffett for $ 4.57 million. He`ve got the opportunity to invite a few people with him and he called a well-known Bitcoin supporter Andreas Antonopoulos, but he refused.

«I’m not going to play the role of PR crypt for well-known investors» he said.

 

14. Startup Kadena has created a new programming language Pact, the task of which is to securely and easily develop smart contracts on the blockchain. This is the third version of Pact and its main feature is that it supports the cross-running execution of smart contracts between private and public keys.

Pact 3.0 supports simple payment verification (SPV), that is, smart contracts based on it can independently verify transactions.

 

15. Wei Zhou, Binance financial director, has announced that the exchange plans to launch its own stablecoin within two months.
The first is called Binance GBP and will be tied to the British pound. In the future, it is planned to launch stable coins tied to currencies of other countries.

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