20 June

Recommended read.

“Ethereum’s consensus algorithm is not the only thing changing with the launch of Eth 2.0. The underlying cryptography itself is getting an overhaul based on leading research out of the Electric Coin Company.

Called BLS12-381, the new elliptic pairing curve will securely coordinate transactions on the proof-of-stake (PoS) Eth 2.0 network, while opening up opportunities for data savings and privacy-tech solutions.

Currently, the ins and outs of that curve are being baked into the [Eth1] network with Ethereum Improvement Proposal 2537. That EIP is slated for delivery with the protocol’s 10th hard fork, Berlin, tentatively scheduled for July.

If we have that, then an eth2-in-eth1 client is actually not that hard, which opens the door to applications that use eth2 as an availability engine (ie. things like Plasma but waaay more powerful). [Vitalik]”

Singapore’s central bank is looking to join forces with China in exploring central bank digital currencies.

Singapore, which is also actively exploring blockchain-based CBDCs, is looking to exchange related knowledge and expertise with China, noting that Singapore and China’s central bank are discussing various CBDC development scenarios.

The main goal of Singapore’s CBDC project is to cut cross-border payment and settlement costs, reduce settlement time, and ensure transaction security. The Monetary Authority of Singapore has been working on its blockchain-powered interbank payment project since late 2016.”

See Also: Bank of Thailand Launches Digital Currency Pilot Project
See Also: Cambodia Plots a Dollar-Free Future With Blockchain-Based Payments
See Also: The Queens Politician Who Wants to Give New Yorkers Their Own Crypto

“More than 40 companies including [Bitstamp, Blockchain.com, BitGo, BitPay, Crypto.com], Ripple, Brave and Huobi have joined forces to form the Open Payments Coalition and launch universal payments system PayID.

Reaching more than 100 million consumers, the new payment process will allow users to send or receive money anywhere in the world across any payment network in real time.

Payments will need to be interoperable between fiat and cryptocurrency, and easy to send and receive across the globe.

PayID is already in wide use in Australia, where it was progressively introduced over the last three years.”

See Also: PayID Explainer (Video)

“The #Ethereum miners are voting to increase the Block Gas Limit from 10,000,000 to 12,500,000. In theory, this means that the Ethereum network now has the capabilities to handle ~44 transactions per second, instead of ~35.

On the other hand, increasing the number of transactions per block makes the blockchain bigger—and more difficult and expensive to run. This could reduce the number of people who run Ethereum nodes and help to keep the network secure.

Ethereum’s blockchain capacity was similarly expanded by 25% last September.”

“Dharma CEO Nadav Hollander explained the implications of opening up governance of Compound for a company like his. ‘It’s like being a bank and getting to vote at Federal Reserve meetings – only any user of the protocol can do it.

In fact, Dharma has already been actively taking part. It has a proposal in now to increase the amount of interest earned on tether (USDT) deposits on Compound.

PoolTogether contracts are earning COMP and currently, the value of that COMP is actually greater than the value of the interest accruing to the prizes!

We’ve seen user demand for ocUSDT (protection on USDT deposits in Compound) as lots of DeFi users have been attracted to the COMP incentives for USDT. [Opyn]”

See Also: How to Maximize Earning $COMP By More Than 5X Using Instadapp (Video)
See Also: Tether’s Supply on Compound Jumps to Over $224M in a Week

“The network is meant to allow IoT devices to access a wireless network. It also acts as a gateway to the internet. Devices on the network can also send transactions through the Helium blockchain.

The hotspots are both low-power wireless access points accessible from up to 10 miles away and nodes on the Helium blockchain. Node operation is rewarded using the firm’s Helium (HNT) tokens.

Helium CEO and co-founder Amir Haleem previously founded the P2P file sharing internet software, Napster. Helium’s network currently covers over 700,000 miles across North America in 1,000 cities.”

See Also: French Fintech Firm Announces $78.5M Paris Real Estate Tokenization Deal

“The world’s best digital artists and platforms descend on Genesis City for the first ever Art Week in Decentraland.

Kicking off with a launch party in Genesis Plaza, Art Week features a huge array of gallery viewings, roundtable discussions, art showcases, podcasts and more.”

“Alarm bells started ringing in early March when Factom Inc. told investors it faced liquidation unless it received further funding by the end of the month. Factom Inc. has now opted to go the Chapter 11 route, which allows it to restructure the business and pay creditors over time.

Factom Inc. Chairman David Jevans [stated] the company’s closure will have no impact on the running of Factom Protocol, a trustless data provenance layer built on top of the Bitcoin blockchain.”