5 December

Bitcoin (BTC) got many investors hooked on crypto, but it’s Ethereum’s Ether (ETH) that’s beginning to garner more attention, according to Grayscale.

Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. […] There’s a growing conviction around Ethereum as an asset class.”

“Through this acquisition, GBV is dedicated to leverage its network strength, to promote the accelerated growth of OMG Network, and further enhance the adoption of OMG blockchain in Asia and beyond.

OMG’s price jumped on the news, rising over 18% from $3.74 to $4.41 during the Asian trading hours. OMG rallied by over 200% in August as the DeFi-led congestion on Ethereum’s blockchain boded well for OMG network.”

“Brian Brooks predicted a lineup of cryptocurrency banking and clarification actions will emerge from the Trump Administration during its final days. Brooks cited banks plugging ‘directly into blockchains as payment networks as one place where the answer has to be yes.’

I don’t think we need 50 regulations, but what we do need is clarity about what’s allowed.

It may have been a bubble two years ago, but with more clarity institutions that see this is a real thing are going to adopt at scale, which they’ve already started to do so.”

See Also: US House Financial Services Chair Waters Recommends Joe Biden Rescind OCC Crypto Guidance
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“DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually been much faster. I also think that the legal issues are more difficult to sort out on the DeFi side.

DeFi concerns aside, Pierce seems optimistic about the recent launch of the Ethereum 2.0 Beacon Chain.

Peirce explained that her proposed Safe Harbor framework for blockchain projects will likely develop further. In a nutshell, the Safe Harbor proposal would grant network developers a three-year grace period to build decentralized projects without worrying about SEC legal action, provided they meet a basic reporting standard at the beginning of that time.”

Researchers from the University of Bern have released a report claiming Ripple’s consensus protocol “ensures neither safety nor liveness.”

Our findings show that the Ripple protocol relies heavily on synchronized clocks, timely message delivery, the presence of a fault-free network, and an a-priori agreement on common trusted nodes with the [Unique Node List] signed by Ripple.

If one or more of these conditions are violated, especially if attackers become active inside the network, then the system may fail badly.”

See Also: Ripple CTO Says Majority Vote Would Force the Burning of Billions in XRP

Andreas on the Rumored Self-Hosted Wallet Regulations in the US (Recommended Watch)

“Corbat made clear CBDCs are an “inevitable” development in the future of money. Corbat did not disclose Citigroup’s government partners.

As a significant practitioner in the payments market with connections to over 200 clearing systems, Citi is providing experience-based insights into the design choices involved in the formulation of digital currencies.”

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“With its new blockchain-enabled digital land registry tool, the U.N. wants to help Afghanistan address major challenges in urban informal settlements — otherwise known as slums or shanty towns — like land-grabbing, inefficient use of land, and insecure land tenure in informal settlements.

The tool is based on a hybrid blockchain platform run by European startup LTO Network.

The plug-and-play design of the LTO Network’s blockchain is now available to any country to utilize as a blockchain add-on to their existing land registry systems.”