Weekly Update #11: Digital Gold, Libra’s Betting And CoinDesk Voting
It’s Monday – and that’s mean the next Weekly Update is coming to you! Check what’s new happened in the blockchain industry.
Last week, we informed you about the increasing lack of trust within Libra Association. We will continue this topic today, with some updates. But Facebook’s coin is not the only thing worthy to mention!
Waiting for Libra
Are you not entertained enough with Libra? Say no more – every week is a guarantee for new updates in the case of Facebook’s blockchain projects. This time, we’re back to the topic from the last update concerning the Libra’s partners. According to Bloomberg, Mastercard, Visa, and Stripe have received a letter from two senators: Sherrod Brown of Ohio and Brian Schatz of Hawaii. It contained a warning about the risk which Libra brings.
Eventually, all three companies, alongside with e-Bay, has followed the steps of Paypal and quited Libra Associations in last Friday. By this, Facebook lost some most influential partners in its plan to create own cryptocurrency.
In the meantime, the House Financial Services Committee informed that Facebook’s CEO, Mark Zuckerberg, will be defending his blockchain project in the incoming hearing at the end of October.
All those problems put Libra’s launch in question. If you wonder when that day will finally come, CoinFLEX has a proposition to you. The exchange recently known from Initial Future Offering (IFO) is giving you a chance to bet about Facebook’s coin launch date. This is for sure a next level of cryptocurrency-related gambling.
Mint Gold Token backed in Ethereum
We all know the phrase “Bitcoin is the digital gold.” Well, some gold might be indeed digital – at least in Australia. Perth Mint is issuing a first digital gold token running on a public blockchain, fully supported by the Australian government. It is called (unsurprisingly) the Perth Mint Gold Token (PMGT) and was launched by InfinitGold. The token is backed in Ethereum and build on ERC-20 standard.
Villains and heroes of the crypto world
Have you read already our last Throwback Stories? We brought you a closer history of Alexander Vinnik and his role in the laundering of money stolen from Mt. Gox. A real villain of the crypto world? We leave the judgment to you.
But if you want to choose who was the true villain of the blockchain industry in 2019, and who was the noblest one as well, you might give your vote in CoinDesk’s rating of most influential people of crypto. As for the heroes, you might choose from many given options – as well as adding your own favorite who isn’t included on the list. In case of villains, you have an absolutely free choice.
Bitfinex supports derivatives
If you are the user of the Bitfinex Mobile App, you may already notice that the last major update brought some new features. One of them is the support for derivatives trading. Moreover, users also get access to Bitfinex’s Reports 2.0, which is aimed to provide a better overview of account history. How these new features will perform – that’s still lies in question.
Proof-of-stake – hope for Ethereum
Vitalik Buterin, a co-founder of Ethereum, expressed his faith in the proof of stake protocol and how it will influence the performance of his crypto. During the Devcon 5 conference in Osaka, he describes his view on the security of proof-of-work networks:
“What about attackers who have a really large, extra protocol incentive, or just want to watch the world burn? Could be a government. Or hackers that want to have some fun. The critique here says we’re assuming we have these participants motivated by economic incentives. What if there are people who just want to break the thing regardless?”
On the contrary, PoS, in the case of Ethereum, decreases the risk with the use of smart contracts instead of burning computer power. You wonder what the exact differences between both protocols are? You should definitely check our guide.
And that would be all – at least for the last 7 days. We will see what new week will bring for the blockchain industry.
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