“To be clear, $1 billion is not how much money people are making on DeFi, but how much they have committed. Their “locked-in” collateral is used on various protocols to make a wide array of bets, from simple loans to complex derivatives.
No other smart contract platform comes close in terms of its developer mindshare, tooling, and infrastructure, to the point where I don’t believe DeFi could exist anywhere else today. And perhaps most surprisingly, we’re finally seeing a credible case for ETH to accrue a long-term monetary premium as the only truly trustless collateral type in decentralized finance.
It proves that people around the world want access to more efficient, less biased, money.”
See Also: DeFi Pulse
“Developers are now eyeing the network’s fifth anniversary, July 30, 2020, for Eth 2.0’s debut. Phase 0 and Phase 1 are 99 and 90 percent complete, respectively, Ryan said.
Phase 0 will certainly launch in 2020. Audits are out and testnets are getting stronger every week. I don’t see a reality in which Phase 0 does not launch in 2020.
Third-party code audits and testnets – such as a lite client capable of being run on an Android smartphone demoed by Ethereum developer Nimbus on Tuesday – remain the outstanding tasks, Eth 2.0 researcher Diederik Loerakker said.”
“These “new payment technologies” need to be held to the same AML standards as existing financial institutions, lest they give lawbreakers a monetary loophole.
Social media and messaging platforms and others now focusing on the establishment of cryptocurrencies cannot turn a blind eye to illicit transactions that they may be fostering.”
“By combining the decentralized security of Ethereum with the decentralized oracle framework of Chainlink, users have access to a trust minimized insurance product that is secure end-to-end.
Smart contracts running on blockchains allow for the terms of an insurance agreement to be transformed into digital logic that executes based on predefined conditions, which neither party can tamper with. In the case of flight insurance, insurance policies can be programmed to process claims and make payouts once certain data is received, i.e. data about the flight’s status.”
See Also: Demo
“Trump 2020 with the symbol TRUMP, launched courtesy of cryptocurrency exchange FTX. FTX says the new token will work like a futures contract, allowing traders to take long positions (Trump wins) or short ones (total loser).
TRUMP expires to $1 if Donald Trump wins the 2020 U.S. presidential general election, and $0 otherwise. If you think there’s a 52 percent chance of Trump winning, then TRUMP should trade at $0.52. Buying below there would be good, as would selling above $0.52.
The token, which went live earlier this week, is currently trading at 62 cents after Trump’s acquittal, implying a 62 percent chance he’ll get four more years in Washington.”
“Someone has just created a smart contract on ethereum with source codes in the shape of a monument in memory of Dr. Li Wenliang, the whistleblower of China’s coronavirus outbreak, who died of the disease.
The “Monument” contract wrote down the biography of Dr. Li in Chinese with a highlighted “R.I.P” and his contribution as a medical expert to alerting others of the danger of the virus as early as Dec. 30 – only to be reprimanded by local police later on.
The creation of the smart contract, which now becomes immutable and can’t be censored on a blockchain, comes at a time when Chinese netizens are showing widespread sadness and furor on messaging application WeChat and social media Weibo.”
“IOV Labs said this week its newly released interoperability bridge would allow users to cross RSK- and ethereum-based digital assets, including ether and ERC-20 tokens, across the different protocols.
When a user transfers tokens, the bridge’s smart contract locks the originals and mints a corresponding amount of new tokens on the other chain. Using the system, ether-based tokens can be transformed into RSK’s RRC20 tokens, which conversely can be turned into ethereum ERC777 tokens.
Interoperability protocols make it easier for projects to operate on different blockchains. Bitcoin stablecoin protocol Money on Chain, which uses bitcoin as collateral for new tokens, has already said it will use the new RSK bridge to cross its stablecoins onto the ethereum ecosystem.”
“Japanese politicians are calling on G-7 members to respond to China’s planned digital yuan by collaborating on digital currency research.
We live in a stable world led by dollar settlement. How should we respond if such a foundation collapses and if [China’s move] gives rise to a struggle for currency supremacy?
Senior politicians told reporters Friday that Japan should share information and technical studies with the U.S. and other G-7 members in order to respond to China’s digital yuan initiative, which could pose a serious challenge to the greenback’s global supremacy.“
“Analysis by blockchain monitor Whale Alert suggests that Ripple co-founder Jed McCaleb sold off more than one billion XRP between 2014 and 2019 – and Whale Alert believes the rate may increase this year as the agreements limiting his XRP sales expire.
Whale Alert estimated that McCaleb has another 4.7 billion XRP left to sell, equating to around 5% of the total supply. At today’s prices, the hoard is worth more than one billion U.S. dollars.
Co-founder Arthur Britto also holds billions of XRP in escrow that will expire sometime in the future.“
“While the futures market tested the water above $10,000, the spot price fell short by $128.
Open interest, the number of open futures contracts on the CME, jumped to a five-month high of $249 million on Wednesday – up 34.5 percent from $185 million seen two weeks ago. Meanwhile, open positions on Bakkt, rose to a record high of $13 million on Wednesday.”