7 May

“The Facebook-created consortium announced Wednesday that Levey would be joining “later this summer” and will be overseeing its efforts to ‘combine technology innovation with a robust compliance and regulatory framework.’

Levey previously served the U.S. government as Under Secretary of the Treasury for Terrorism and Financial Intelligence under the presidencies of George W. Bush and Barack Obama, and has a background in combating illicit finance.

He also oversaw sanctions enforcement through the U.S. Office of Foreign Asset Control and anti-money laundering regulations through the Financial Crimes Enforcement Network (FinCEN).

Levey said he looks forward to working with governments and regulators in building out the Libra project.”

“Ethereum 2.0 is expected to launch within months, but new scaling solutions and gas-free transactions are already here. Optimism’s OVM is a layer-2 scaling solution designed to allow DeFi financial platforms to operate with comparable speeds to centralized systems.

Even if ETH 2.0 was to not happen, there’s still a lot of upside in ETH 1. The Optimism scaling solution makes a couple of thousand transactions per second achievable.

[Additionally], the Biconomy platform is designed to facilitate gas-free interactions with DApp protocols, removing technical barriers to greater adoption.”

“The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means should be returned or compensated.”

“For purposes of the Securities Act, an investment contract (undefined by the Act) means a contract, transaction, or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.

In defining what keeps a digital asset from that last qualifier of the work of a third party, the new California bill says:

Any changes to the software code underlying that asset may be made by network participants. Voting rights over the functioning of the network are conferred to each holder of the asset.”

“Blockstream has just upgraded their satellite network that carries the Bitcoin blockchain for the first time in almost two years. The data rate is now 25 times faster and users can sync an entire node without connecting to the web.

The Blockstream satellite service provides internet-free Bitcoin (BTC) transactions and information sharing to crypto users in nearly every corner of the world. The company has leased six geostationary satellites which are used to broadcast the blockchain to Africa, Europe, South and North America, and the Asia Pacific region.”

Ukraine’s Ministry of Energy believes that using power plants for crypto mining could be one of the best ways to take advantage of a current energy glut. The bureau is now looking to apply progressive solutions to avoid wasting energy as part of the government’s course toward digitalization.

There is a way to transfer this ‘liability’ into an ‘asset’. One of the modern approaches for using excess electricity is to devote it to cryptocurrency mining.”

See Also: Ohio Lawmakers Propose Blockchain Voting in Elections Overhaul Bill
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“Wood told RL1 attendees Polkadot will roll out in five or six stages, beginning with a “chain candidate” launched by the Web3 Foundation. The candidate operates as a de facto genesis block for the network, but under the guidance of Web3 Foundation developers.

Notably, the network will launch under a Proof-of-Authority (PoA) consensus algorithm, which will initially give all on-chain authority to the Web3 Foundation, the non-profit behind Polkadot.

It allows us to start the chain without having to have a set of validators already assembled and having to trust in our potentially unfulfilled governance structures to move the chain forward.”

“Bitcoin’s total node count fell below 47,000 on Monday, a level not seen since 2017. Numbers show a steady decline in the number of operational nodes from a peak of over 200,000 in January 2018.

A decline in total node count means fewer people are participating in validating new transactions and storing copies of the network’s shared transaction history.

Curiously, the last bitcoin bull cycles were preceded by significant spikes in new Bitcoin nodes coming online.”

See Also: Bitcoin Developer Activity Hits Record High Ahead of Halving
See Also: Bitcoin Revenue in Square’s Cash App Tops Fiat Revenue for First Time in Q1

“Coin Metrics is asking the Bitcoin community to reconsider how it measures Bitcoin’s hashrate, and it’s offering alternatives that could provide a statistical backbone for financial products that would help miners hedge for hashrate volatility.

With reliable data, market makers could create futures contracts that bet on Bitcoin’s future hashrate. This would give speculators another market to bet on, sure, but it would also provide miners a hedge against their own operations.”

See Also: Bitfinex Derivatives Launches Bitcoin Dominance Perpetual Swaps
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“The release includes TON Node in the Rust programming language, command line interface, TON Multisignature Wallet smart contract, as well as tools for launching TON validators. The report notes that within a month, TON Labs also plans to issue its decentralized browser, Surf, its staking pool, DePool, and the token known as TON Cash.

TON OS is designed to enable blockchain application support. Additionally, the TON OS would allow users to create applications that are automatically compatible with the blockchain platform.”

“Wright has been accused of committing plagiarism again, this time in his doctoral thesis.

PaintedFrog accused Wright of taking ‘huge swaths of content and reworded it to avoid automated detection tools. In most cases, he simply substituted synonyms every few words.'”