“While Bitcoin and Ethereum are backed by similar economic concepts, their networks have different capabilities. I mentioned already that Bitcoin is mono-asset while Ethereum is poly-asset, but they’re also different when it comes to the money verbs.
The world of BTC is one of central bank diminishment but not private bank diminishment. BTC as the base money and a new breed of crypto banks providing banking services on top. In this world Bitcoin’s scarcity meme propagates until even the central banks require BTC in their vaults to bolster confidence in their failing state-run currencies.
This is a partially bankless world.
The vision of Ethereum grants a more ambitious possibility. We can disrupt the central banks yes, but we can also replace private banks with protocols. We can turn all bank functions into code.
A world where all banks become code is a wilder proposition—but with more upside.
It’s no secret that I’m hoping we achieve the second vision. Not least because I believe the first vision is fragile. It can easily collapse into the system we have today, just as the gold standard collapsed. Banks consolidate. They capture.
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“ECC announced in a blog post that engineer and cryptographer Sean Bowe had discovered a way of ‘creating practical, scalable and trustless cryptographic proving‘ techniques, which claims to end a 10-year-long pursuit by the cryptography communities.
Sean’s discovery involves ‘nested amortization’ — repeatedly collapsing multiple instances of hard problems together over cycles of elliptic curves so that computational proofs can be used to reason about themselves efficiently, which eliminates the need for a trusted setup.
The strategy of Halo reportedly holds the potential of compressing limitless amounts of computation, creating auditable distributed systems, building highly scalable blockchains and protecting privacy.”
“Coinbase Pro will start accepting DASH deposits starting Monday prior to enabling full trading.
The post explains that while DASH is a cryptocurrency optimized for payments with optional speed and privacy features, the trading platform will not support them ‘at this time.'”