October 23

Many of the CEO’s answers to lawmakers’ questions underscored Facebook’s official position that it no longer controls the project.

You said that you won’t launch without U.S. regulator approval. What happens if the association decides to launch despite that?

I believe we would be forced to leave the association.

Zuckerberg committed to preventing anonymous use of the Calibra wallet – but stopped short of promising lawmakers that the Libra cryptocurrency would never be used without identification.

Will you commit to not supporting anonymous wallets for Libra?

I can’t speak for the whole association, you have my commitment from Facebook.”

See Also: Updating Live: Zuckerberg Hearings Before Congress on Libra
See Also: Watch Hearing

“The U.S. Department of the Treasury has committed to monitoring the Facebook-led cryptocurrency project Libra.

It is unclear whether U.S. and foreign regulators will have the ability to monitor the Libra market and require corrective action, if necessary. This concern must be addressed if the Libra is to launch.”

“Although the deposit contract has been written, tested, and formally verified, we are working to allow the BLS standardization to stablize prior to launch. Fortunately, the deposit contract does not need to be put into production until we near Phase 0 launch, so this focus on standardization is not expected to have any effect on the Phase 0 launch date.

We have altered the sharding proposal in such a way to greatly improve developer and user experience. We expect multi-client public testnets to launch soon after this simplifying change is completed.

We will be publishing more info on participation (staking your eth) in both testnets and mainnet shortly. Casper is indeed coming.

See Also: Ethereum 2.0 Dev Says “Will Attempt Cross Client Testnet this Week”
See Also: Microsoft integrates OpenZeppelin Contracts into Microsoft Azure

“The Litecoin Foundation has published two new draft Litecoin Improvement Proposals that work toward establishing privacy features for the network.

The Foundation is working on the integration of the scalability- and privacy-focused Mimblewimble protocol, which allows for transactions to be obfuscated yet verifiable.

The authors envision implementing MimbleWimble as an opt-in new transaction format through “extension blocks” (EBs). These EBs run alongside main chain canonical blocks, at the same interval of 2.5 minutes.”

“The task force will investigate digital asset labels for cryptocurrencies, tokens, and blockchain technology as it intersects with financial markets.

While most crypto exchanges use a standardized set of ticker symbols, there are some discrepancies that will need to be overcome if traditional financial exchanges are to eventually deal with digital assets.

With digital assets emerging as a new investment class, the availability of quality, standardised reference data will serve as the foundation for a trusted token market.”

“TrustVault looks like a straightforward crypto wallet phone app, but behind the scenes, the user’s private keys are held within clusters of hardware security modules (HSMs) operated by Trustology with verification processes distributed among secure data centers.

To entice institutions to begin using decentralized exchanges, minting stablecoins via MakerDAO or lending and borrowing crypto through Compound Finance, TrustVault now bridges the browser with various decentralized apps on ethereum.

I don’t believe there is anything else on the market that is custodial and DeFi-capable.”

The DeFi Revolution has Begun

“Twitter account Bakkt Volume Bot, which carries out live tracking on the platform, indicated that the amount of BTC futures contracts is forecasted to reach 1,089 BTC by the end of the day.”

See Also: Former World Gold Council Exec Develops New Bitcoin ETF

“PoS is a type of consensus algorithm where block creators are randomly chosen.

A sampling-based quantum supremacy experiment could almost immediately be repurposed to generate bits that can be proven to be random.”

“The first application that CBSG intends to launch is the Cross-Carrier Payment System (CCPS), which aims to enable mobile service users to use their phones for payments with local merchants abroad. 

CCPS reportedly allows for interoperability across different telecom carriers, which should in turn establish a network of merchants accessible to mobile service customers. Softbank is the first carrier to adopt CCPS and aims to launch the payment system in Tokyo in 2020.”