1 July

Geth makes up only one of 11 client specifications, but 79% of Ethereum nodes run on it. Developers worry that a bug could temporarily freeze the network – something blockchains aren’t supposed to do, ever.

In light of this, Ethereum Core developers decided Friday to postpone work on the Berlin hard fork until at least August in an effort to give other clients a chance to increase their share of the network.

Having a diversity of clients is good for the network. It allows different projects to join Ethereum’s developer community – from the tiniest startup to JPMorgan.

The main reason [to postpone Berlin] would be to reduce dependency on Geth and allow it to fail without bringing down the whole network.”

“Compound governance proposal #11 passed today [and] will go into effect in two days. When that happens, it’s very likely yield farmers will exit the riskiest markets of basic attention token (BAT) and 0x (ZRX) and move their activity into safer assets, stablecoins such as USDC and DAI.

Under the original rules, users are given COMP based on the amount of interest they earn or the amount of interest they pay. Under the new rules, users will simply earn COMP on the dollar value of assets they have put in or borrowed from the system.

By simply allocating COMP based on dollars in the system, stakeholders say the overall interest in COMP yield is unlikely to drop, but the assets will almost certainly shift to different markets.

By distributing on the basis of total borrow, the incentive to self-deal in niche asset pools largely dries up, and we’re likely to see much of this capital (particularly the BAT market) flow out of the protocol.

The goal of the COMP distribution is to allocate COMP to users who are generating value for the protocol.

When the Compound token distribution began, no one really knew what to expect. Our team was surprised by how powerful the impact of the distribution was on incentives, and so was the community.”

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“The Bank for International Settlements (BIS) will establish four additional “Innovation Hub” branches – in Toronto, Stockholm, London and a joint location for Paris and Frankfurt – over the next two years in a major expansion of its year-old effort to ponder the future of money.

These new locations will be well placed to advance work‘ on digital currency and distributed ledger technology (DLT) alongside other central banking issues including cyber security, artificial intelligence and digital payments, said Innovation Hub chief Benoît Cœuré in a press statement.

BIS, often referred to as the central bank for central banks, also announced its Innovation Hub will form a strategic partnership with the U.S. Federal Reserve System.

The expansion solidifies the Swiss-based institution’s multifaceted drive to incubate fintech at the highest levels of monetary policymaking.”

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“The “v2” rollout has been slated for release on July 28, and will represent an entirely new deployment of the Augur core protocol on the Ethereum network. Augur v2 will offer a new version of the platform’s native REP token called “REPv2.”

Action is only required by REP holders after Augur’s v2 deployment has gone live. A migration tool will be provided within the platform’s user interface, along with a tutorial on how to carry out the swap.”

“The firm’s Retrievable Transfer feature works by building a new layer onto existing blockchain protocols. Users then have the ability to “cancel” a transaction sent to an incorrect cryptocurrency wallet address.

The company’s logic layer functions by providing a unique transaction code that must be entered by the recipient in order to receive funds from the sender. Until the recipient has entered the correct code, the sender may retrieve the funds at any time.

Kirobo’s Retrievable Transfer feature is now available for bitcoin transfers on wallets from France-headquartered firm Ledger, while support in other wallets is expected to roll out over coming months.”

“ETH2 scaling for data will be available before ETH2 scaling for general computation.

This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with ETH1 as data layer, then ~100k TPS with ETH2 (phase 1).”

“Sorare, the Ethereum-based fantasy soccer game that lets players own digital cards based on real professional players, announced today that it has added the 700+ players that compete in North America’s Major League Soccer.

Sorare allows players to purchase and collect cards based on players from a variety of professional soccer teams, and then form a five-player lineup to enter divisional matchups against other Sorare users. Players earn points based on the pros’ respective real-world performances.

We’re excited fans worldwide now have the chance to collect, manage, and own licensed digital cards of their favorite players.”

“In simplified terms, traditional stocks entitle their holders to a voting share in the corporate board of the company and a portion of the dividends it may distribute.

Given the clear analogies with company stocks, there is an intervention risk from the Securities and Exchange Commission, which might deem these tokens as securities.

The decentralization of the network appears to be a key distinction when evaluating if a token is a security.

I agree there are some components of [governance tokens] that look security-like, but doesn’t necessarily mean that they are securities.”

“Dfinity has announced its “Internet Computer” is now open to third-party developers. Projects already being built atop of Dfinity’s Internet Computer include a decentralized payment app as well as a platform for luxury goods.

The firm said it’s already operating on a “network of independent data centers” across the U.S. and Europe, enabling developers and businesses to build and launch their own apps and projects onto the platform.

The Internet Computer and its open services, Williams continued, create a way to ‘reboot the internet creating a public alternative to proprietary cloud infrastructure.'”

“Wuhan Kingold Jewelry, the largest privately-owned gold processor in central China’s Hubei province, used at least 83 tonnes of counterfeit gold as collateral for loans amounting to 20 billion yuan ($2.8 billion) from over a dozen Chinese financial institutions.

In short, more than four percent of China’s official gold reserves may be fake.

Kingold started off as a gold factory affiliated with the People’s Bank of China but split off from the central bank during restructuring. As of September 2019, it held assets totaling $3.3 billion, and its shares are listed on the Nasdaq stock exchange.

The latest revelations are sure to spark questions about how much gold held as collateral is genuine, and how practical gold is as a reserve asset. In the last four years, at least $50 million worth of fake gold allegedly from Swiss refineries has been found in the vaults of JPMorgan Chase.”

“Wirecard-issued crypto debit cards from companies like Crypto.com and TenX have been reactivated following permission from the United Kingdom’s Financial Conduct Authority, or FCA.

The regulator stressed that there are still ‘requirements imposed on Wirecard’s authorisation.'”