28 October

“DBS is Southeast Asia’s largest bank by assets. DBS Digital Exchange will offer access to ‘an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies.’

On offer for trading against the Singapore dollar, the Hong Kong dollar, Japanese yen and U.S. dollar will be four top cryptocurrencies: bitcoin, bitcoin cash, ether and XRP.

The exchange will also offer tokenization services, offering business the opportunity to raise funds by issuing digital forms of securities and assets.”

See Also: SEC-approved crypto IPO issuer INX acquires STO platform OpenFinance

“JPMorgan global head of wholesale payments, said a major tech firm will use the token to make global payments starting this week.

As the bank sees blockchain technology becoming commercially viable, it has also created a business unit with around 100 employees, Onyx to house related projects.

We are launching Onyx because we believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business.

JPMorgan is focusing on the wholesale payments business, where removing inefficiencies can save the banking industry hundreds of millions of dollars a year.

JPM’s blockchain-based Interbank Information Network is rebranding as Liink and will soon launch as a way to validate payments before they are sent.”

Ocean v3 brings the Ocean data market proposal to life with Ethereum-based datatokens, as well as a range of other features like initial data offerings (IDOs), staking, automated market making (AMM) functionality and the potential to share and monetize machine learning models.

The goal of the project is to democratize the value from data and artificial intelligence (AI), which tends to accumulate in the hands of a few internet giants.

Assembling these component parts gives people a fighting chance to monetize their data in this new “shadow industry,” currently dominated by firms like Facebook and Google.

I’m very excited about data scientists going nuts with this. It lets you deploy data marketplaces in 10 lines of code.”

“Yield is jostling to join a $2.6 billion decentralized lending industry dominated by established players such as Compound by providing a benchmark product others have not: a DeFi yield curve.

DeFi predominantly offers variable rates. Those that offer fixed rates such as Aave charge a premium due to the young market’s volatility. Yield, on the other hand, provides stable long-term borrowing and lending options. Version one has six different contracts extending through December 2021.

Yield as an abstract product can be seen as a cornerstone to long-term, blockchain-based money markets.”

“At Immutable we’ve been working in the industry for years on games like Gods Unchained. When comparing scaling solutions, we knew we wanted the following:

  • Unlimited scalability
  • Instant transaction confirmation and mainstream-quality UX
  • No compromise on user security
  • Retaining access to Ethereum’s ecosystem and network effects

This made our choice easy: we built Immutable X as a ZK-rollup in partnership with StarkWare. ZK-rollups are the only solution above capable of scale without compromise, and though they still have disadvantages in the area of general computation, those challenges are rapidly being resolved.

When you build an application using a scaling solution, you are committing to that solution. We wanted to ensure we backed the winner not just for right now, but for years to come.”

“Chaincode Lab’s new blog post, “Why We May Fail Lightning” is a sobering reminder that, despite the hype, Bitcoin’s secondary network for faster, cheaper payments still needs work before it can support mass deployment.

At the heart of these attack vectors are design trade-offs that expose ‘the balance between building functionality and making [Lightning] secure.’ Some features like Neutrino, for instance, which have opened the door for more reliable and user-friendly mobile wallets for Lighting, have also opened up new types of attacks.

Lightning is great, but can’t say it is battle-tested. If script kids would be interested, they could take down those shiny new 5 BTC wumbo channels with negligible cost and no effort at all.

What follows is a list of some of the more worrisome attacks that could be launched on Bitcoin’s Lightning network.”

“Mining data aggregators attribute a slump in Bitcoin’s hash rate to the end of the wet season in Sichuan, resulting in many miners migrating to other jurisdictions.

The province of Sichuan is one of the world’s largest hubs for mining activity. Miners flock there to take advantage of cheap hydro-electricity during the rainy season and then just as quickly leave.

If accurate, the event would comprise 2020’s second-largest negative adjustment after the near 16% drop that followed the ‘Black Thursday’ crash in March.”

“Cubans are finding new ways to circumvent the embargo sanctions imposed by the U.S. government back in 1962. Remittances sent from the U.S. to Cuba often pass through a clandestine network of “crypto enthusiasts” before being converted into Cuban pesos.

Entities trading Cuban pesos for Bitcoin often endure long bike journeys though the Caribbean heat to finalize these transactions. Though the group appears to be informal and self-organized, thousands appear to be utilizing their services.”

“The crypto-powered Spotify competitor Audius has retroactively distributed 50 million of its native AUDIO tokens to artists and listeners using the platform.

A rather large 40.6% of the token’s supply has been allocated for the Audius team and advisors, including Deadmau5 and RAC, with 36% set for distribution among the platform’s investors and 17.8% of supply allocated to a community-governed treasury.

The token’s supply is set to inflate by 7% each year for future distributions to users.”