“A radical new framework for how to authenticate online identities just went live on the Bitcoin network. An ID network like ION could be the key to unlocking a web where users no longer have to fumble with passwords, emails and cell phones for verification.
This network is a layer 2 technology similar to Lightning except that instead of focusing on payments it uses Bitcoin’s blockchain to create digital IDs for authenticating identity online. It uses Sidetree, an open-source protocol for decentralized identifiers built by devs from Microsoft, ConsenSys, Mattr and Transmute.
ION uses the same logic as Bitcoin’s transaction layers to sign off on identity. A public key and its associated private key are used to verify that a user owns an ID. For example, to log into your email or social media in a world that uses ION, you would verify you own your account by “signing” your DID with your ION account.
Decentralized Identity is a good example of a non-monetary use case for public blockchains like Bitcoin, and it’s even on the radar of the World Economic Forum’s blockchain chief.
We are excited to share that [version 1] of ION is complete and has been launched on Bitcoin mainnet. ION does not rely on centralized entities, trusted validators or special protocol tokens. ION answers to no one but you, the community.”
“According to Robert Gutmann, CEO of New York Digital Investment Group, the firm has been having conversations with sovereign wealth funds about possible Bitcoin investments. Raoul Pal also confirmed Gutmann’s revelation, stating that Singapore’s sovereign wealth fund Temasek was indeed a Bitcoin investor.
According to Pal, Temasek which holds about $306 billion in assets under management, has been buying virgin Bitcoin from miners. Tweeting on Thursday, Pal characterized the imminent entry of sovereign wealth funds into the Bitcoin space as a ‘wall of money.'”
“Among options listed on the dominant Deribit exchange with an April 30 expiry, the most common open position is the $80,000 call. The total open interest in the $80,000 call option is 4,469 contracts, or 240 million at press time. That’s a sign of high price expectations for April.
Statistically speaking, the seasonality for April is biased bullish. Historical data shows bitcoin has chalked out gains in April in eight out of the last 10 years.
The near-term focus in the bitcoin options market is on this Friday’s March expiry, where a record $6 billion of contracts are set to come due, with some analysts warning of an extreme pullback to what’s known as the “max pain” point, seen at $44,000. But if that expiry comes and goes without any major price fluctuations, the bullish bets for April would come into view.”
“Cboe Global Markets is looking to broaden its return to cryptocurrency by introducing more products and possibly re-listing bitcoin futures.
The exchange also officially filed to list shares of VanEck’s bitcoin exchange-traded fund (ETF) March 2 in hopes VanEck’s application to the U.S. Securities and Exchange Commission (SEC) is approved.
We’re keen on building out the entire platform. There’s a lot of demand from retail and institutions and we need to be there.”
“Over the past week, beacon chain Altair pre-release specs – Stargazer v1.1.0-alpha.1 and Half of ‘em just look like dots v1.1.0-alpha.2 – were released. These represent the first feature complete releases of the upcoming Altair upgrade to the beacon chain.
Altair is an upgrade to the beacon chain that brings light client support, minor patches to incentives, per-validator inactivity leak accounting, an increase in slashing severity, and cleanups to validator rewards accounting for simplified state management.
Over the past few weeks, merge designs have continued to be refined. We expect these base designs to be integrated into the specs shortly and for engineering teams to begin work on the next wave of demos and testnets.”
“A blockchain startup has created an investment trust that will allow individuals to bet on the next generation of Ethereum, with interest.
An investor in the trust gets the benefit of exposure to ether, plus the rewards from staking that ether without having to purchase it, custody it and stake it independently. It’s all handled by the trust.
As you see a lot of institutional interest in bitcoin, I think a very natural next step is how does Ethereum work? There are a bunch of investors who believe that the risk/return on Ethereum is significantly higher than that on Bitcoin.”
“Speaking at the Bank for International Settlements (BIS) seminar on Thursday, Mu Changchun laid out the proposals, explaining that CBDC fund flows should be “synchronized” to help regulators ‘monitor the transactions for compliance.’ The PBoC has shared its proposals with other central banks and monetary authorities.
Interoperability should be enabled between CBDC systems of different jurisdictions.”
“The latest product from IoTeX, a privacy-focused platform for the Internet of Things, reportedly brings the concept of a smartphone’s trusted execution environment with real-world data to the crypto space. Pebble Tracker is reportedly able to capture data including location, temperature, air quality, motion, and even light levels and record it securely for a variety of blockchain-related applications.
This would reportedly allow use cases including healthcare providers verifying the temperature of COVID-19 vaccines for the duration of their journey from manufacturer to injection, but also provide a new way to incorporate real-world data to non-fungible tokens, or NFTs.
This technology can be used to absolutely verify the proof of presence of a person.”
“In a paper published on Thursday, Professor Matera argued that Wyoming’s targeted blockchain-friendly approach could pose a significant challenge to Delaware’s dominance.
Wyoming’s blockchain approach goes beyond corporate or tax law and extends to banking and securities regulations which are of significant importance to startups operating in the industry. These liberal blockchain laws could see the state chip away at Delaware’s preeminence in business incorporation in the United States.
According to statistics from the Delaware government portal, 67.8% of all Fortune 500 companies are incorporated in the state with 1.5 million legal entities electing to be registered in the state.”
“Effect Network, a decentralized finance (DeFi) platform that connects companies to the global workforce, will be switching its development from the EOS blockchain to the Binance Smart Chain (BSC). The team cautions that with Effect’s departure this may well mean ‘the end of applications with real use cases on the EOS chain.’
Effect Network cites ‘unfulfilled promises to address the many issues that plague the EOS mainnet‘ prior to Larimer’s departure as motivating factors for its search for greener pastures.”
“A Reddit post revealed that a man’s wife left him after he refused to sell his Bitcoin holdings when the price hit $60,000, and instead loaded up on more BTC during the recent dip.
Where is a good place to pick up girls in my Lambo?”