1. The cryptocurrency of the People’s Bank of China doesn`t set the goal of creating an instrument of total control over information. Mu Changchu, This was announced by the head of the payment and settlement solutions department of the regulator Mu Changchun this Tuesday. According to him, the task of the authorities is to find a balance in ensuring access to these responsible bodies.
Reuters noted that the cryptocurrency of the Central Bank of China is unique in its kind, because it gives its creators an unprecedented level of control over cash flows.
«We know that users want to maintain anonymity in the transaction process. We will provide this opportunity. However, this anonymity will be controlled. This is necessary to combat money laundering, terrorist financing and other illegal acts» Mu said.
2. The largest Canadian bank «Royal Bank of Canada» has filed 4 patents in Canada and the United States, which are about the creating a platform for trading cryptocurrencies.
«This is the first time I’ve seen such that one of the largest banks in the world file a patent, which is directly related to the exchange of cryptocurrencies» Mark Kaufman, a partner at Washington-based Rimon Law, commented on the news.
3. Alan Greenspan, former Chairman of the US Federal Reserve, believes that it doesn`t make sense for central banks to channel resources for creating digital currencies.
«The US fundamental sovereign loan is much stronger than what Facebook can provide» he said.
4. Jesse Powell, CEO of Kraken, said that the exchange pool is constantly lacking in dollar reserves due to traders opening long positions on bitcoin.
According to him, the number of «bitcoin bulls» briefly exceeds the number of «bitcoin bears», which provokes an imbalance in liquidity.
This suggests that most traders are in a positive mood regarding bitcoin pricing.
5. The bonus platform «Lolli» has partnered with Chinese e-commerce giant Alibaba. Due to this, users will be able to receive cashback in BTC when buying goods in stores that are partners of the company. According to Lolli Communications Manager Aubrey Strobel, this feature will only be available in the United States.
6. On November 12, unplanned technical work was carried out on cryptocurrency exchange «KuCoin». The withdrawal of funds and trading on the spot market was suspended. A few hours later, the platform resumed withdrawal of funds and announced the successful completion of work.
7. Binance Chain support will be added on the EXODUS 1 smartphone. Due to this, the smartphone will be able to interact with the non-custodian exchange Binance DEX and tokens in the blockchain.
«We have partnered with a leading cryptocurrency exchange, so that users can store their own keys and at the same time run a full bitcoin node» Phil Chen, HTC decentralization director,commented.
«We are pleased to be working with HTC, through which users will have access to Binance Chain and DEX» Changpeng Zhao, CEO of Binance, said.
8. The cryptocurrency exchange «Bithumb Global» has announced its own Bithumb Coin token, which will be released on the basis of the new Bithumb Chain blockchain.
BT will be a tool for interacting with the exchange ecosystem. In total, 300 million tokens will be issued. The exchange will direct half of its profit to the burning of tokens. Initially, the distribution of the token will depend on user activity.
BT can be used to pay commissions, as well as to obtain rights to use future payment mechanisms of Bithumb Chain.
9. The crypto-tracking portal «CoinMarketCap» introduced to the community a new liquidity metric that can more accurately reflect the real activity in the market. During the calculation, a huge number of factors will be taken into account, such as the size of bids or the deviation from the average price. CoinMarketCap collects data on trading pairs at different intervals and leads them to an average indicator.
Bids placed far from the average market price will be evaluated as a manipulation of trading volumes. This will lead to a decrease in the liquidity rating.
10. Ethereum founder Vitalik Buterin believes that compensating miner services at the expense of commissions alone can pose a threat to network security. In his opinion, they may not be enough.
«When I last checked the data on bitcoin, the daily reward for the blocks found was $ 7 million, and for the collected commissions only $ 140,000 – a difference of 50 times. In other words, after the reward for the found blocks drops to zero, miners will have to receive 50 times more from the collection of commissions».
According to Buterin, in this version, Proof-of-Stake better copes with the problem of scarce security budgets.
«In my opinion, Proof-of-Stake is better than Proof-of-Work when the security budget gets lower».
It is assumed that together with a decrease in the reward for the found block, the cost of bitcoins will increase, as a result of which only commissions will be enough to cover the costs of miners. Buterin called such an idea crazy, extremely optimistic and false.
11. Bakkt officially launched the custodian service for institutional investors «Bakkt Warehouse». Companies like Pantera Capital, Galaxy Digital, and Tagomi are already using it.
Initially, custodial service was available only to bidders. Now, Bakkt has managed to obtain permission from the New York State Department of Financial Services to expand the service.