In the Sunday digest ForkLog — application leading mining company Bitmain to conduct the IPO and the growth rate of Bitcoin Cash, issue stablon USD Coin company Circle, the new listing rules on the cryptocurrency Coinbase and other key events culminating in the week.
The price of bitcoin
Over the last seven days of the first cryptocurrency lost 1.22% and at the time of publication in the capitalization in USD 114.7 billion, is trading around $6635.
In the past week, bitcoin has experienced as a decline, retreating at some stage to a level of about $6300, and UPS, rising at peak time on Friday on the stock exchange Bitfinex to $6828.
Note that the volume of market supply Tether USD increased by $12,89 million, enrolling on Bitfinex, but this time the “quantitative easing” on the price of the first cryptocurrency positively not affected.
Of the top ten CoinMarketCap positive dynamics by results of the week showed only two assets: Cash of Bitcoin and XRP. The second rose in price by 6% and is currently trading around $0.604477, failing at the end of the week again to pass through the capitalization of Ethereum.
Bitmain comes to the stock market
Wednesday, September 26, the largest mining company Bitmain submitted to the Hong Kong stock exchange (HKEX) listing application for an initial public offering (IPO). The application is a first draft, and some of its details, in particular, the number for sale of the shares and the direct date of the IPO, still in the editing process.
The application was accompanied by disclosure of the financial condition of the company, and here you can find a number of interesting figures. Talking about financial performance Bitmain before the IPO and how the company is on the stock market can affect the General state of Affairs in the cryptocurrency industry, you can learn the material, based on the analysis of the research Department of the exchange BitMEX.
In addition to filing a formal application for the IPO this week, Bitmain Antminer DR3 presented for the extraction of Decred. The computational power of miner is 7.8 TH/s, and power consumption is 1400 Watts.
Adding that another Chinese manufacturer mining equipment Ebang revealed details about a new range of devices E11, which became known last month. In particular, based on 10-nanometer process technology miners Ebang series E11 can reach 44 TH/s.
Announced the first products Bakkt
The upcoming launch of cryptocurrency platform Bakkt announced that its first products will be futures with physical delivery of bitcoins, which can be purchased will be three Fiat currencies: US dollar, British pound and the Euro.
Starting Bakkt engaged the operator of the new York stock exchange (NYSE) Intercontinental Exchange (ICE) in partnership with Microsoft, Starbucks and BCG. The platform will allow users and institutional investors to buy, sell and store digital assets in the global ecosystem, it was announced in August of this year.
Also Bakkt will include regulated at the Federal level, stock exchange, custodian services, applications for merchants and users. Bitcoin, as the most liquid cryptocurrency, will be the first listing of the new platform and will be traded in pairs with Fiat currencies.
The Growth Of Bitcoin Cash
A significant increase in the week showed the cryptocurrency Bitcoin Cash. The reasons for the rapid growth against the background of stagnating market was the acquisition by the exchange Gemini approval from new York regulators for the listing of this cryptocurrency as well as news about Bitmain filing of the application for the IPO. As you know, the Chinese company is the largest holder of BCH.
So, immediately after this news the price of Bitcoin Cash increased during the day by more than 18%, but even with further adjustments, the weekly increase amounted to almost 10%. At peak performance in mid-week Bitcoin Cash rose to $575, and at the time of publication on Sunday in the capitalization of $9.3 billion is trading around $540.
List tablconv joined the USD Coin
One of the most important news of the week was the launch of stablon USD Coin (USDC). Let him Circle, the parent company of the Poloniex exchange where he began trading the next day. Soon USDC must also appear on a number of cryptocurrency exchanges, including decentralized platform. In particular, in the message Circle lists DigiFinex, CoinEx, KuCoin, OKCoin, Coinplug and XDAEX
USDC developed with the assistance of an affiliate with the consortium CENTRE and aims to become a easy way to move licenzirovanie dollars in public blockchains. Individuals and organizations can use this service for deposits in U.S. dollars with the Bank account and convert them to USDC. Also these tokens can then be withdrawn back to your Bank account.
“This will allow millions of retail and institutional investors around the world to use transparent and stable crypto-currency bidding against hundreds of different scriptactive”, — stated in the blog Circle.
Activation smart contracts in the core network Waves
Wednesday, September 26, the blockchain platform Waves reported that following the support of new functionality on the part of the miners the first phase of the smart contract is activated in the core network and is now available to developers.
New system log for the activation of smart contracts in the core network Waves was released on 10 September. With their help developers will have the ability of implementing different functions in the framework of the so-called smart account, including addresses from multipoles, freezing token, atomic swaps, and vote oracles.
In the next phase command Waves will launch its Turing complete smart contracts, which will provide a much wider range of functions for ecosystems Waves.
The release of the decentralized exchange Protocol 0x v2.0
Team 0xProject announced the launch of version 2.0 of the open Protocol is a decentralized cryptocurrency exchanges 0x. The development is a new system of smart contracts in Ethereum.
Developed by 0x will Warren noted that the first version of the Protocol allowed use of open pools of liquidity and lower costs associated with trading. Version v2.0 opens new opportunities for developers, in particular, provides additional modularity and extensibility.
0x v2.0 is also responsible for access to and exchange of tokens all standards ERC-20 and NFT. The developers said that the new capabilities v2.0 available for the first Protocol version 0x.
Coinbase has identified the listing rules of the new cryptocurrency
Coinbase has introduced the official listing rules of new digital assets, and invited the creators of the tool with which they will be able to submit an application.
Coinbase representatives said that their goal is a listing of all assets of the corresponding inner standards of the courts and local law, but due to the peculiarities of the legislation of some countries added in the future assets may be available only to users of certain jurisdictions.
To apply to asset additions to the project will be required to fill out a questionnaire. Simultaneously, the Coinbase team said that some assets might be added in its sole discretion, even without filing the application for listing.
Also this week, the California company launched services for beginners bitcoin investors. They are: Coinbase Bundle that allows you to invest in a few scriptaction, Coinbase Asset Pages that display the data for the top 50 cryptocurrencies, and educational service Coinbase Learn.
Australian Red Belly blockchain out of 30 thousand transactions per second
Develop State Association scientific and applied research (CSIRO) and the Sydney University blockchain Red Belly showed a throughput of 30 thousand transactions per second.
Testing was performed on the basis of the cloud infrastructure of Amazon Web Services (AWS). In previous tests, the blockchain showed much more dramatic results — up to 660 thousand transactions per second, ten times higher than the performance of the payment system Visa. However, the experiment was conducted on the basis of a local network of 300 machines.
The last test was conducted on the basis of 1000 virtual machines from 14 geographic regions, including North America, Europe, South America and the Asia-Pacific region.
Samourai Wallet no longer shows the balance of the user in Fiat
The developers focused on the increased privacy of the users of the bitcoin wallet Wallet Samourai announced the release of a new version of the product, the main feature of which was the refusal to view balances in US dollars.
“We consider it vital that our existing and future users understand that when they carry out transactions in the bitcoin network, they participate in the bitcoin economy and conduct transactions exclusively with BTC – native token the network”, — stated in the message Samourai Wallet.
According to representatives of the project, they understand that to some it can cause discomfort and may even lead to the loss of some number of users, however, are convinced of the need to perceive the bitcoin as bitcoin, and not to associate its value with the dollar or any other Fiat currency.
Based in Zug startup SEBA Crypto AG has attracted 100 million Swiss francs ($104 million) for the creation of a regulated cryptocurrency Bank. The funding round is participated BlackRiver Asset Management and Summer Capital. The funds received for SEBA, which was founded by ex-employees of UBS, will develop traditional banking services for scriptcombine and bitcoin exchanges.
Payment Veem California startup raised $25 million during a funding round Series B led by investment Bank Goldman Sachs. Veem is a universal platform that supports both traditional solutions, so blockchain payments. According to representatives of the startup, SWIFT is outdated technology “forty years ago”, which has a “high fee and lost payments”. Also, according to them, this technology is not transparent, unreliable and unsafe.
The representatives of the Dutch startup Bitwala intending to combine traditional banking system with crypto-currencies, announced the receipt of $4 million during the next funding round. The investors German venture capital company EarlyBird and the Fund COPARION.
Earlier this year Bitwala announced the reformatting business. The reason was the closure of its Bank accounts and stopping services related to the issuance and service of prepaid cards.
A venture capital company from Silicon valley, Andreessen Horowitz (a16z) has invested $15 million in stabilin MakerDAO (MKR). Possession of the token MKR will allow a16z to participate in the management MakerDAO Dai and Credit System. A total of a16z has acquired 6% of the total number of coins MKR. The purchase will allow a16z to manage MKR and the credit system, Dai (Dai Credit System), which aims to become the first decentralized Autonomous stablon organization.
German car manufacturer Porsche AG is planning to 2023 to increase investment in blockchain, AI and VR startups in the $176 million the Automaker will give priority to start-UPS involved in “user experience, mobility and digital lifestyle” at the intersection of advanced technologies. Thus the company intends to access trends, new technologies and business models.
This week on our YouTube channel we spoke about the role of economists in stablecoin projects with Dmytro Bondar, Head of Research Forklog Consulting.
We also learned from managing partner at GrowthUp Group Denis Dovgopolyi, what will happen to the funds, tokens, investors in 2019.
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