28 August

“Messaging giant LINE has launched a wallet for users to manage digital assets and a blockchain platform where developers can issue their own tokens, tokenize digital assets, and run decentralized applications (dapps).

LINE’s development platform aims to allow companies to easily introduce blockchain technology. The wallet services are now only available in Japan, where LINE is particularly well-known.”

“Dubbed USDC 2.0, USD Coin (USDC) has integrated what are called “meta transactions.” Now, users do not have to pre-fund their USDC-bearing wallets with ether (ETH) in order to send a transaction.

Meta transactions allow USDC wallets and compatible applications to act as virtual “gas stations” by paying the associated mining fee that accompanies every Ethereum blockchain transaction.”

Filecoin has been testing EIP 1559 which aims to tackle high network fees on Ethereum. The proposal introduces the ‘base fee’ mechanism that dynamically adjusts fees based on the current network congestion levels. All of the fees in ETH that are paid via the base fee are burnt and only the ‘tip’ is paid to miners.

Filecoin software engineer, Jeromy Johnson, said the EIP code ‘appears to be doing its job’ on an ongoing test on the network. He added that there had been a couple of spikes in “base fee”, which is the new network fee architecture, but there was very little delay in messages making it into the chain.

Two Ethereum clients are [also] currently privately testing the code, Vulcanize’s geth fork and Besu.”

“‘Protocol of protocols’ Polkadot is weeks away from the release of the first viable bridge to the Ethereum blockchain. The bridge will roll out in phases and should be production-ready by March 2021.

Phase one of three slated for release mid-September will include ‘a working demo of two-way transfer of assets [and] state from Ethereum to our testnet chain.'”

See Also: Polkadot-Based Acala Raises $7M as DeFi Grabs Land on Another Blockchain

“As the rate of token issuance accelerates, it has become increasingly difficult for users to filter out high quality, legitimate tokens from scams, fakes, and duplicates.

Today, we are excited to announce Token Lists, a new standard for creating lists of ERC20 tokens. This is a community-led initiative to improve discoverability and trust in ERC20 token lists in a manner that is inclusive, transparent, and decentralized.

Token Lists can be used right now in the Uniswap Interface, removing the need for a default list.”

See Also: TokenLists

“Bitcoin whipsawed on Thursday after the Federal Reserve’s chairman signaled tolerance for high inflation, as expected.

Federal Reserve Chairman Jerome Powell, while speaking at central bank’s annual Jackson Hole event, said that the central bank will now be willing to allow inflation to run higher than the 2% target before raising interest rates.

See Also: WATCH: Fed Chair Powell Lays Out Plan to Let Inflation Rise Above 2%

AA: What Can You Expect From Ethereum 2.0?

Because of how widely derivatives products vary among exchanges, BVV predicts there will be several acquisitions in the crypto exchange market in the next few months.

BVV also predicts that the most likely acquisition targets are LedgerX, BitFlyer and ErisX; the firm ID’d Coinbase, Bitstamp, Huobi and Binance as the most likely acquirers.

Derivatives are the gateway for institutional investors.”

See Also: Non event? Why Friday’s $272M CME Bitcoin futures expiry is irrelevant

The first regulated stablecoin in Switzerland is entering e-commerce. Galaxus, the largest online retailer in Switzerland, could start accepting payments in a stablecoin issued by local cryptocurrency bank Sygnum.

Launched in March 2020, Sygnum’s DCHF stablecoin is pegged one-to-one to with the Swiss franc, and intends to eliminate the need for card systems, reduce settlement costs and fraud, as well as provide instant transactions.”

See Also: Is This the Blockchain Firm That Will Get Enterprise to Finally Embrace Open Networks?

“Faced with a food safety crisis on an island nation that imports more than 90% of its food from other countries, the Singapore Food Agency has teamed up with veriTAG and ST Engineering to develop a blockchain-based system for tracking food from creation up to point of sale.

veriTAG’s system is based on the NULS blockchain, an open-source and adaptive blockchain network designed for app developers. The NULS Foundation is also based out of Singapore, and earlier this year it announced the Nerve Network, a cross-chain initiative that can bridge to Bitcoin or Ethereum.

“Fair Launch Capital’s business model may help prevent future YAM DeFi debacles. FLC said it is not a venture capital fund and will make a “no-strings-attached grant” to cover a project’s initial audit and launch costs.

Some high-risk DeFi projects — with and without tokens — have quickly attracted large amounts of capital despite launching without a proper code audit.

After launching, the project’s community would take a governance vote to decide whether to forward the grant money they received to the next founders that wanted to try a Fair Launch. FLC stated that the core team would be choosing a single project for the first experiment with this new model soon.”

See Also: Fair Launch Capital

“BestChange.ru, an aggregator of over-the-counter (OTC) cryptocurrency providers in Russia, is one of a number of websites being blocked by the country’s internet censorship agency.

The lawsuit also targeted cryptocurrency news websites and even an online flower shop, all of which, according to Roskomnadzor, were offering bitcoin for sale or goods in exchange for bitcoin.

The issuance and usage of bitcoin is decentralized and can’t be controlled by the state, which violates Russian laws.”

See Also: Chainalysis Report Shows Healthy Crypto Usage in Venezuela