“Next week, Canadian digital asset investment manager 3iQ will be launching an IPO of an Ethereum exchange-traded trust, The Ether Fund, on the Toronto Stock Exchange (TSX) under the ticker QETH.U.
The maximum offering for the launch is $100 million, and the closing date of the offering will be no later than December 10, 2020.”
“Over $600 million is now staked on the world’s most-used blockchain, just days after its ‘beacon chain’ launched. The amount consists of a total of 3,028 depositors, who staked a minimum of 32 ETH each.”
“Bitcoin has been used by many investors this year as a hedge against a drop in the purchasing power of U.S. dollars. Ether is considered the currency of “the world computer,” which aims to build an ecosystem of decentralized applications.
Thus, while bitcoin can be seen as somewhere between a store of value and a commodity on the “asset superclass triangle,” ether could ultimately become the first asset to be a combination of all three classes of assets: capital assets, commodities and stores of value.“
See Also: Real Vision: Ethereum Documentary
“Entering and exiting L2 chains instantly is ready to be integrated into dApps! We demo’d this usecase back in August, and were blown away by the response from the community. Since then, we’ve built out a fully working implementation of a cross-chain routing network using state channels that works with L2s, Eth2 shards, and even other L1 chains. We call it Vector.
By making Connext nodes chain-agnostic and by allowing them to open channels on many chains concurrently, we create: A simple, shared communication protocol (like TCP/IP) that routes value instantly between any discrete L2 or L1 chains!”
“It’s now common knowledge that, in both Bitcoin and Ethereum, the vast majority of mining resources is concentrated in a small number of mining pools. Ethereum 2 has chosen to move away from a proof-of-work model to a proof-of-stake model in part to try and address this problem.
But what prevents staking pools, managed by exchanges, from posing a similar risk to the centralisation of power at the chain consensus level? The answer is very little.
In a world in which Ethereum becomes the engine for a new global and decentralised financial system, it would be naive not to expect governments to apply pressure on these exchanges, force them to censor certain transactions; and perhaps even coerce them into attacking the network itself (should Ethereum be deemed too great a threat to the powers that be).
The good news, however, is that this scenario is not inevitable. There is still time for us to help bring about a world in which the pools that users decide to stake with are protected by community members with incorruptible principles, rather than profit-driven exchanges.
In our vision, this takes the form of a DAO. A DAO that helps match a self-custodial pool of validators with a decentralised pool of stakers.”
“CBDCs promise faster settlements, better security, ease of use, instant implementation of monetary policy (if you consider that an improvement) and transaction costs that are lower than cash. In the future, these advantages will be stressed ad nauseam by pundits and politicians to make the technology palatable to the whole population.
While all of the advantages are true, it is also crucial to think through the implication of the technology and how it could negatively affect the economy and the citizenry.
With CBDCs, the whole economic system could be brought to the brink by bad updates or data leaks of the centralized ledger, which won’t be protected by proof-of-work in the same way as Bitcoin.
Imagine a social credit scoring system coupled with a CBDC. All your purchasing decisions could influence your score on which you depend for everything. Donate to the “wrong” non-profit like WikiLeaks? Whoops, you cannot purchase train tickets anymore. What sounds like a far-fetched dystopian nightmare is already a reality in China.
More than 60% of all jobs around the world operate in the informal economy. Many activities we all engage in fall within the informal economy, and they are efficient. They make life easier, they overcome useless red tape and they save money. The government does not like this because it cannot generate tax revenue. Having a government ledger that tracks every transaction would make it virtually impossible to do anything within the informal economy, and a huge chunk of the 30 million jobs would vanish. A CBDC paves the way for a cashless society, which is very much in the government’s interest. Thus, it could be the end of informal markets, which are often a safe haven for many people in light of an ever-expanding regulatory state.
CBDCs could completely do away with fiscal policy. Central banks could immediately generate cash and hand it out to small and medium-sized businesses. Governments will argue this is highly beneficial. Still, it bears the danger of manipulation, economic mismanagement and leads to an even faster monetization of government debt, the cost of which we all have to face by holding money with less and less purchasing power.”
“With the release of v1.9, Status introduces a few new features to make interacting with your community more enjoyable.
The new “status” tab within the tab bar is akin to an unstoppable, censorship resistant Twitter feed that enables anyone to set their own status as well as view a timeline-like feed of their contacts’ status updates.”
“The Seychelles-based exchange announced a Polkadot Sponsorship program, as well as a $5 million Tether stablecoin fund from the Huobi Innovation Lab to support “developers, event organizers, content creators, and ambassadors” throughout the Polkadot ecosystem.”
“The outage lasted roughly five and a half hours before over 200 Solana network validators, representing over 80% of the stake weight of the network, successfully initiated network restart instructions and began producing blocks again.
A post-mortem on the network interruption is forthcoming.”
“A State Assembly in Pakistan passed a resolution this week demanding laws for cryptocurrency ownership and Bitcoin mining. Pakistan faces “serious economic issues,” as per Middle Eastern policy think tank MEI, and has seen a decline in its economic output this year as per the World Bank.
But crypto offers a way out. Pakistani ministers state the Khyber Pakhtunkhwa region’s naturally cool environment, cheap power, and availability of manpower are the classic trifecta of all conditions required to profitably mine Bitcoin and other cryptocurrencies.“
“Apple co-founder Steve Wozniak has launched Efforce, a company that facilitates investments in energy efficiency projects via cryptocurrency and blockchain technology. The company aims to be a marketplace to streamline the process of financing and undertaking such projects by enabling them to receive crowd contributions from investors via its token, WOZX.
There will be a smart meter on the company’s blockchain to measure each project’s energy savings and turn them into energy credits that are saved in investors’ profiles for use or sale.
We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change.”