27 August

Baseline Protocol, where corporates can use the Ethereum public mainnet as a common frame of reference among different systems of record, has released its Version 1.0.

The protocol has seen prolific adoption since its launch in March of this year. Wolpert said some 20 or so companies a week are joining the 600-plus firms now using the protocol, with big names like Coca-Cola bottling group.

Thus far, several proofs-of-concept have been released to showcase how to baseline systems such as SAP, Microsoft Dynamics and Google Sheets.

The release of Baseline Protocol v1 represents a significant milestone because it provides a set of standard interfaces for developers to implement solutions easily and for vendors to provide their own modules that comply with the specification.

The protocol is at a stage where it is going into professional standards development.”

“A new Compound governance proposal from Gauntlet founder Tarun Chitra would see all future COMP token distributions locked in a vesting schedule. Adding vesting would discourage ‘purely capitalist yield farmers.’

With no vesting, yield farmers can simply pool their liquidity to earn COMP and immediately sell it on the market. This has resulted in a somewhat perverted incentive that goes against the stated purpose of the COMP distribution.

If the proposal were to pass, however, it could have a powerful effect on the current DeFi ecosystem. The decision would significantly limit a major portion of total liquidity mining revenue, most likely affecting all other protocols in some way.”

See Also: Ethereum whale’s uniswap token briefly hit $100K — but there’s a catch

“Following six months of rapid growth, USDT average daily transfer value has finally flipped Bitcoin’s as it continues to take more and more of the market share of on-chain transfers. The recent surge in Tether usage has been driven by DeFi and token swapping protocols such as Uniswap.

Tether’s 7-day average adjusted transfer value reached over $3.55 billion as of August 20. This is around 20% more than that for Bitcoin. Economist John Paul Koning also observed that, according to PayPal’s Q2 report, the daily average transfer value of the online payments giant was also less than Tether’s at $2.94 billion.”

Wise Origin Bitcoin Index Fund I, LP has a $100,000 minimum buy-in and a high-ranking executive officer to boot: Peter Jubber, head of strategy and planning for the increasingly crypto-friendly investments giant Fidelity.

The fund is the latest example of Wall Street veterans warming up to bitcoin.

Wise Origin links back to Fidelity Investments via Jubber and Fidelity’s brokerage service and distribution subsidiaries, both of which are set to receive sales compensation from the new fund.”

“The company launched its “Filecoin Space Race” on August 24 as a “collaborative competition” intended to stress test the network. Miners from around the world are being incentivized to participate as Filecoin (FIL) promised to hand out up to 4 million FIL tokens as rewards.

It took the @Filecoin Space Race just 30 hours to reach 10 Petabytes of storage!

Currently, the capacity of Filecoin’s testnet hovers just over 12 pebibytes that are split between 280 miners. Filecoin’s “Space Race” is scheduled to run for three weeks and will conclude in mid-September.”

“DOT has seen meteoric growth in recent weeks in terms of both valuation and projects. Data from PolkaProject shows there are 197 projects in the Polkadot ecosystem already.

There are several favorable factors buoying the sentiment around DOT. The protocol does not directly compete against the Ethereum Network, it scales rapidly, and as a result, could offset the issue of high fees on Ethereum.

Blockchains, like Polkadot and Cosmos, which enable multiple blockchain networks to exist on their protocols, are structurally different from Ethereum. If Polkadot, along with other smart contracts protocols, can co-exist with Ethereum, it raises the chances for long-term survivability.

I believe in a multi-chain world interconnected by bridges. Polkadot and Cosmos will not replace Ethereum.”

“Powell’s return to Jackson Hole comes at a time when ‘people are just starting to ask questions about the intrinsic value of money.

There is this danger of the U.S. [dollar] in the future no longer being the world’s reserve currency. We are in a much worse position than we were in a year ago.

U.S. authorities have just taken on an inordinate amount of debt, more than they could possibly ever hope to pay back. So the only viable option is to decrease the value of that debt by way of monetary debasement. It’s despicable and dangerous, but the only other option is austerity, which is too unpopular for any public servant to mention at this time.”

Simon Dixon on the Macro-economic Outlook (Good Interview)

See Also: Private Equity Eyes Blockchain (Video)

FTX has acquired Blockfolio, the market’s leading mobile news and portfolio tracking app, for $150 million. The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers.

The combined company aims to build a new standard for quality in retail trading experiences.”

“Now, the big centralized crypto exchanges are finding a way to cash in on the mania, introducing indexes tied to the fate of “DeFi” tokens and new futures contracts and other types of derivatives.

The fully synthetic derivative product enables greater access to decentralized finance.

Ahem. Never underestimate crypto exchanges’ creativity when it comes to adapting Wall Street-style financial engineering for use on the so-called digital rails.”

“The SEC has formally adopted new accredited investor rules, expanding the group of Americans who can invest in private securities [and] compliantly invest in token sales.

Still, the move isn’t broadly expanding the list of individuals who can take part in the private markets.

We do not expect that number of newly eligible individual accredited investors to be significant compared to the number of individual investors that currently are eligible to participate in private offerings.”

See Also: IRS, Ignoring Its Own Watchdog, Sends Letters About Crypto Taxes Once Again

“The system seeks to use blockchain to propagate data between networking satellites, increasing their communication efficacy, coordination and “overall awareness.” If one node cuts out, the rest will quickly and dynamically adapt.

Quadcopter swarms need to stay nimble in inhospitable environments, where communication is spotty but operational awareness remains paramount. They told NASA that blockchain could be just the ticket.”

See Also: MasterCard Asia files patent for Tangle-based device billing system
See Also: Russia’s Sberbank and S7 Airlines to sell flight tickets for tokens

“Crypto exchange Shakepay, which describes itself as “Canada’s fastest-growing bitcoin platform,” conducted a “proof-of-reserves” audit and acquired an insurance policy to reinforce its security, perhaps learning a lesson from fellow Canadian platforms QuadrigaCX, Einstein and Coinsquare, which all lost customer funds or have otherwise been involved in scandals over the past 20 months.

Shakepay’s new insurance covers all funds held in cold storage, meaning it covers ‘physical theft of the media where the private keys are held.‘”