October 10

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now. It is my view as chairman of the CFTC that ether is a commodity.

Tarbert continued to say the CFTC is working with the SEC on the two cryptocurrencies and have agreed both are not securities. Going forward, the CFTC may allow ether futures to trade on U.S. markets, he suggested.

“Today at Devcon, Plasma Group launched for the first time a working demonstration of Optimistic Rollup, an Ethereum scaling solution that runs autonomous smart contracts on layer 2. 

Optimistic Rollup on the OVM scales Ethereum more than enough for the needs of dapps today.

Crucially, these transactions are instant and don’t require gas. The Devcon demo of Optimistic Rollup allows for 250 TPS, and, when optimised, it will reach 2000 transactions per second.

CEO of Uniswap, told Decrypt that the achievement here is that Optimistic Rollup manages to accomplish all of this without using sidechains, which are more centralized.

The decentralization and security vulnerabilities in sidechains are well documented. So gaming companies might be okay with sidechains, but financial apps should use Optimistic Rollup.”

See Also: Try the UniPig Demo!

“The SEC announced Wednesday that the ETF proposal, filed by Bitwise Asset Management in conjunction with NYSE Arca, did not meet legal requirements to prevent market manipulation or other illicit activities. The SEC placed the burden on NYSE Arca, rather than Bitwise’s proposal itself.

With Wednesday’s rejection, the SEC only has one bitcoin ETF proposal currently sitting before it, filed by Wilshire Phoenix and NYSE Arca.”

Tencent-backed Pepo lets you get paid in crypto when people upvote your 30-second videos. The app is a kind of crossover between TikTok and Instagram, but enhanced by—and shockingly, not encumbered by—blockchain. 

You can send crypto to people you know on the app, you can use Pepo tokens to upvote other people’s videos, and they can upvote yours. And yet, you wouldn’t know there was a blockchain in sight.

“Data indicates that daily traded volumes of Bakkt’s Bitcoin monthly futures contracts soared from just 25 on Oct. 8 to 224 on Oct. 9.”

See Also: CME Group Expects New Bitcoin Options to See High Demand in Asia

“With the firm’s new product, clients can physically settle synthetic trades with bitcoin, which correspond to physical gold stored in vaults. Clients can [also] settle the trade with a number of cryptocurrencies.

These tokens will give them access to the underlying metal since they correspond to ownership of physical gold in vaults.”

“Projects include a forward-looking ethereum software client called Lighthouse, an oracle network for off-chain data called Tellor and a mobile decentralized app-builder called Alice.

The purpose of the program is to support under-resourced areas of development that are integral to the ethereum ecosystem but not necessarily profitable.

The ConsenSys grants program, which launched in February 2019, has received over 150 applications. Of those 150, 15 projects have been funded to the tune of $330,000 so far.”

“On Oct. 10, Alipay reiterated its anti-crypto stance in a Twitter thread, which warned that the company is closely monitoring over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations.

If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.

On Oct. 9, Binance confirmed that it has begun accepting fiat currencies through online payment service Alipay and mobile messaging and payment app WeChat.”

“With BitGo Custody, Bitstamp’s assets will be secured completely in cold storage in bank-grade vaults and protected by BitGo’s $100 million insurance policy.”

See Also: Coinbase Custody to Support Telegram’s GRM Token at Launch

“The average annual blockchain salary in Canada is more than $98,000, making blockchain careers among the highest-paying in the country.

Although the report claims that Canada is well-positioned to become a global leader in the blockchain industry, the ecosystem is facing major challenges that include funding, lack of a regulatory environment, insufficient public education and little to no cooperation from banks and auditing services.”