300,000 ETH, according to a spokesperson from the San Francisco-based crypto exchange. Other popular cryptocurrencies on Kraken’s staking services include tezos (XTZ) and polkadot (DOT).

Kraken’s users have staked about 58 million DOT (approximately $580,000,000) and 45.5 million XTZ tokens (about $22,500,000), according to data provided by Kraken.

The fast growth of the staking value reflects the many long positions of investors and traders in cryptocurrencies, according to Jeremy Welch, Kraken’s vice president of product.

“Staking’s popularity is the natural outcome of an asset class growing in maturity,” Welch told CoinDesk. “Whereas three years ago holders were mainly interested in securing short-term gains, many are now confident locking up tokens to earn passive income. Why? Conviction is growing in the longevity of crypto assets as a respectable new asset class.”

Kraken also provides staking services for five other cryptocurrencies, including kava (KAVA) and cosmos (ATOM), with yearly rewards varying between 0.25% and 20%.

“Staking” refers to locking up one’s cryptocurrencies to receive rewards for participating in transaction validation on a proof-of-stake blockchain. Many crypto exchanges offer staking services so users do not have to stake their coins directly from their wallets.

Kraken started providing the Ethereum 2.0 staking service on Dec. 3. It warned its users in a blog post at the time that staking is mostly for “long-term ether holders” because “staking ether cannot be unstaked and, along with staking rewards, cannot be transferred for an unknown period of time.”

The total amount of ether locked in Ethereum 2.0 has recently surpassed $2.58 billion, less than a month since ether’s value broke the $1 billion landmark, according to data from Etherscan. As of press time, ether was trading at $1,145.22, a gain of 8.55% in 24 hours. It is close to its all-time high at $1,448.18, according to CoinDesk 20 data.

Correction: Kraken’s announcement was Wednesday, not Tuesday.

store, process, validate, record, and carry out payment transactions. However, they need to ensure that they strictly adhere to existing laws and regulations guiding crypto-based transactions in the United States.

The letter specifically mentioned stablecoins and that blockchain technology is a sure way to ensure payment transactions are carried out faster, cheaper, and more efficiently. This is especially true when it comes to cross-border transactions. Banks will also be able to participate in Independent Node Verification Networks (INVNs), serving as nodes and helping to store and validate payments.

The letter reads, “Likewise, a bank may use stablecoins to facilitate payment transactions for customers on an independent node verification network, including by issuing a stablecoin, and by exchanging that stablecoin for fiat currency.”

Notably, the current Acting Comptroller of the Currency is Brian Brooks. Interestingly, he was also Coinbase’s former head of legal affairs. According to Brooks, this newest update stems from the recent report on stablecoins by the President’s Working Group on Financial Markets. The report states limitations may occur on “multi-currency stablecoins” and other unforeseeable risks with regards to one-to-one tokens. Brooks, furthermore, added that this interpretive letter helps clarify any uncertainty with regards to the use of blockchain and stablecoin payments by banks.

Jeremy Allaire, in a series of tweets, furthermore threw more light on the step taken by the United States OCC. According to Allaire, the CEO of Circle, this is a huge win for cryptocurrencies and stablecoins.

— Jeremy Allaire (@jerallaire) January 4, 2021

He further revealed that, following the letter published by the OCC, banks can now relate with public blockchains as they do with platforms like “SWIFT, ACH, and FedWire.”

Allaire disclosed that this move by the OCC puts the United States at the forefront of embracing the change blockchain and cryptocurrency is sure to facilitate. This decision by the OCC is sure to have a ripple effect on awareness and acceptance of cryptocurrencies and stablecoins, not just in the U.S., but all over the world.

Kristin Smith, executive director of the Blockchain Association, tweeted about this remarkable update by the OCC.

Big point: the letter explains that banks have the ability to connect directly with blockchains.

This is yet another notable, pro-crypto move from @USOCC.https://t.co/YnRI00qn5x

— Blockchain Association (@BlockchainAssn) January 4, 2021

According to her, this is a huge step for the crypto space as it makes being recognized as a formal part of the U.S. financial space a reality for blockchain and cryptocurrencies.

Brooks, since his appointment as Acting Comptroller of the Currency, has spearheaded two other pro-crypto interpretative letters. One of which is his letter greenlighting federal banks to provide services to stablecoin issuers and also store reserves for stablecoins.

The U.S. has been in strong opposition to the cryptocurrency space, with many crypto exchanges considering moving out of the United States majorly due to stringent regulatory conditions. Monday’s interpretive letter by the OCC indicates that there may be light at the end of the tunnel for the cryptocurrency space in the United States of America.

Find out more about the crypto space on the Altcoin Buzz YouTube channel.

cap.

Throughout this week, there has been no shortage of positive news concerning Stellar. For example, the Ukrainian central bank announced it had chosen the  Stellar network to run its forthcoming central bank digital currency (CBDC).

On that, Denelle Dixon , the CEO and Executive Director of the Stellar Development Foundation, said:

“We look forward to working with the Ministry and other stakeholders to digitize the hryvnia, to bring Stellar-based tools and services to the people and businesses of Ukraine , and to introduce new partnership opportunities in Ukraine to businesses in the Stellar ecosystem.”

As significant as that is, perhaps an even bigger coup for Stellar lies in its potential involvement with the U.S. banking settlement infrastructure.

At the start of the week, Circle CEO Jeremy Allaire tweeted that the U.S. Treasury had given the green light for U.S. banks to use public blockchains as a settlement layer.

“ The new interpretive letter establishes that banks can treat public chains as infrastructure similar to SWIFT, ACH and FedWire, and stablecoins like USDC as electronic stored value. The significance of this can’t be understated. “

— Jeremy Allaire (@jerallaire) January 4, 2021

He said this is a huge win for cryptocurrency, particularly for the USDC stablecoin. But more significantly, he stated that this paves the way for mainstream adoption.

USDC started life as an Ethereum-based token founded in collaboration with Circle and Coinbase. However, October last year saw it migrate to the Algorand blockchain, as well as to Stellar.

The limitations of the Ethereum blockchain spurred this change. A useable and efficient payment system must have quick transaction speeds and low fees.

In truth, the U.S Treasury’s mention of “public blockchains” could refer to several approved blockchains. Similarly, “dollar stablecoins,” except for Tether, could also mean any number of dollar stablecoin offerings.

Whether this plays out or not remains to be seen. After all, who’s to say that U.S. banks won’t utilize multiple different but interoperable blockchains to transact.

In December, it was reported that one of Germany’s oldest banks said it was choosing the Stellar network to issue a Euro-backed stablecoin, in one of the first such instances.

As per an official announcement, Bankhaus von der Heydt (BDNH) said it would launch the EURB stablecoin on the Stellar network. The development is a result of a partnership between itself and Bitbond, a German startup that tokenizes real-world assets and provides crypto custody services.

Stellar, currently ranked #9 by market cap, is up 11.99% over the past 24 hours. XLM has a market cap of $7.48B with a 24 hour volume of $7.64B.

Stellar, the world’s 14th-largest cryptocurrency, was selected by the European country for the latter’s upcoming state-backed digital currency.

A landmark announcement for USDC.

One of Germany’s oldest banks said it was choosing the Stellar network to issue a Euro-backed stablecoin, in one of the first such instances.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Bitcoin bounces at $30k support to allay fears of a complete capitulation.

It’s been a bloody past day for the Bitcoin and broader crypto market.

The price of Bitcoin abruptly fell by over 5% in just three hours on January 10.

continues fighting alleged investment scams and fraudulent cryptocurrency operations. Silver Miller currently has pending actions against the Coinbase, Kraken, BitConnect, and Cryptsy exchanges as well as ICO promoters Tezos and Monkey Capital.Spence is alleged to have sold investments through a “sham entity” named Coin Signals. Pretending to be a cryptocurrency trader managing a set of hedge funds, he is accused of soliciting numerous investors worldwide. However, the lawsuit claims that he did not invest the collected money. Instead, he is alleged to have distributed the funds obtained from new investors as investment profits while keeping large sums for personal use, thus operating a Ponzi scheme.According to Silver Miller, Spence “purported to be managing investor assets valued at more than $5,000,000.”

its staking services represent approximately 8% of all ETH staked for Ethereum 2.0 so far. Kraken estimates that the service will generate revenue between 5% and 17%.

Jeremy WELCH, management representative at Kraken, noted that Kraken was one of the first exchanges to list ETH in August 2015. He also added that ETH trading volume ranges from 15% to 40% of daily Bitcoin trading as of December 1st.

Kraken is not the only crypto exchange to offer staking service on Eth2 as a service. Binance, Huobi and Bitcoin Suisse launched their own services last week. OKEx also plans to launch its own service by the end of the month, and Coinbase is going to join in early 2021.

Image: NewsBTC

exchange, which is worth over $60 million.

This massive milestone occurred on the 8th of December, 2020, and the exchange itself had estimated that the staking services within it stand for around 8% of the entirety of staked ETH on ETH 2.0. The exchange anticipates anything from 5% to 17% when it comes to this service’s APY.

Jeremy Welch stands as the Vice President of Product at the Kraken exchange, and stated that the exchange itself has supported Ethereum for a long time. He highlighted how Kraken stood as the first major exchange to list Ether half a decade ago, back in August of 2015.

Indeed, Welch made note that Kraken boasts a sizable amount of ETH trading volumes, stating that the second-biggest cryptocurrency manages to gain trading volumes of anywhere between 15% to 40% of Bitcoin’s volumes.

Kraken isn’t the only major exchange out there offering staking services for ETH 2.0. Big names like Huobi, Binance, and Bitcoin Suisse have all launched their respective staking services in this week alone, with others soon to follow. Coinbase is expected to enter the arena come early 2021, and OKEx is already expecting its services by the end of the month.

What this means for ETH staking, is that a sizable percentage of the entire staking system could be centralized across these major handful of crypto exchanges.

Another major announcement comes by way of MyEtherWallet. The Ethereum wallet interface announced that it would integrate the Staked staking dApp into its interface. From there, users of MEW can stake Ether by way of its web interface, or simply use its android wallet application.

Tim Ogilvie stands as the CEO of Staked, and gave a comment about the matter. He explained that many regard MEW as one of the original Ethereum wallets, something he claimed is rightly so. As such, he deemed it only fitting for users of MEW to stake their holdings through the MEW infrastructure.

The Beacon Chain for ETH 2.0 had been launched at the start of this month, allowing users to stake their funds for returns. It should be noted, however, that stakers won’t be able to withdraw their tokens until it’s enabled at a later point in time.

million, only four days after the launch of the Eth2 staking service.

The milestone was reached on Dec. 8, with the exchange reporting that its operation has accounted for roughly 8% of ETH’s share of Ethereum 2.0 so far. Kraken forecasts that its service would have an APY of between 5% and 17%.

Kraken’s vice president of product, Jeremy Welch, stated that the exchange has “long been a supporter of Ethereum,” noting that Kraken was one of the first exchanges to list Ether in August 2015.

Welch also noted that Kraken’s ETH trading volumes are typically equivalent to between 15% and 40% of daily Bitcoin trade as of Dec. 1. Kraken is not alone in offering Eth2 staking as a service, with Binance, Huobi, and Bitcoin Suisse all debuting their own services over the past week. OKEx also expects to launch its own service by the end of month, while Coinbase will join the fray in “early 2021.” 

As such a large percentage of ETH stakes could be clustered among a handful of major exchanges. Ethereum wallet interface MyEtherWallet has also announced the integration of the ‘Staked’ DApp. Mew users are able to connect to Ether through the company’s web interface or Android wallet application.

Staked’s chief executive, Tim Ogilvie, stated “MEW is rightly regarded as one of the original Ethereum wallets and it is only fitting that MEW users can now take advantage of our staking infrastructure to participate in Ethereum’s major upgrade.”

While the launch of Eth2’s beacon chain at the start of the month enabled staking for ETH, stakers will not be able to withdraw their tokens until Eth2 transfers are enabled — with onlookers speculating the functionality is unlikely to come online within the next 12 months.

Many stakers appear to have gravitated to third-party service providers so they don’t have to worry about incurring slashing as a consequence of disruptions to their node.

Some Eth2 validators have already complained of their Ethereum becoming locked until withdrawals are enabled without being able to earn rewards due to slashing penalties.

dezentralen Zahlungsmitteln und gibt sogar noch 20% Dauerrabatt auf bestimmte Dienstleistungen, welche mit Bitcoin bezahlt werden. Mit dieser Aktion möchte Sie Ihren Beitrag zur Bitcoin und Krypto-Community leisten.Humis’ Studio & Academy ist nicht nur das einzige und erste Beauty Studio in der Schweiz, welche Bitcoin akzetpiert, sondern auch die einzige Bitcoin-Akzeptanzstelle in Winterthur.Name: Humi Tel. & Whatsapp: +41789661722 Mail: humi@humisstudio.ch Web: www.humisstudio.ch Du kannst jetzt auch mit Bitcoin bezahlen � NEU @humisstudio #bitcoin #paywithbitcoin #bitcoinacceptedhereA post shared by Humi's Studio (@humisstudio) on Feb 5, 2019 at 2:08am PSTDeine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert.14febAll Day14marInternational Blockchain Forum: Social Impacts and ApplicationsHochschule LuzernThe International Blockchain Forum will be held for the second time 2019. Again, it will bring together invited researchers, promising start-ups and successful established companies. Our goal is to enableThe International Blockchain Forum will be held for the second time 2019. Again, it will bring together invited researchers, promising start-ups and successful established companies. Our goal is to enable new partnerships for future research collaborations and business partnerships amidst the world know Crypto Valley Zug. The participation is free of charge. Please register on this website.25febAll Day28SEED2019Blockchain training, scientific infrastructure and hackathon Hack & SEEDSEED2019 Blockchain training, scientific infrastructure and hackathon Hack & SEED, 25-28.02 in Davos Find out how to transform new industries with blockchain and other peer-to-peer technologies with the example of theFind out how to transform new industries with blockchain and other peer-to-peer technologies with the example of the scientific ecosystem. Attend workshops about these technologies, apply the knowledge to the case study and take home the right tools to enrich your own projects.This educational retreat in wintery Davos has an incredible line-up of speakers and tutors ranging from scientists, through legal professionals, innovators, and technology experts. SEED also features a side event Hack & SEED, which is a hackathon on the topic of Global Goals for Sustainable Development and decentralized technologies.Intersecting blockchain and science has a great potential for incentivizing collaboration and openness in science, finding new ways of funding research projects, and empowering the scientific community. This means that this technology can revolutionize more than just the financial system.Learn the basics of the blockchain technology, as well as the peer-to-peer technology beyond blockchain. Get introduced to the global landscape of science. Immerse yourself in the scientific and industrial worlds, and where they intersect.Meet industry experts, lawyers, scientists, librarians, technologists from all around the world. Co-create the future of blockchain and other peer-to-peer technologies with design thinking methodology. SEED is not just about talking, it’s about building. Develop ideas, which have direct impact on the future of the knowledge of mankind, and bring them to life after SEED.SEED is just the beginning – we’ll turn the best idea into open source code.. Leave SEED with the right background and tools to transfer what you’ve learnt into your own project. Imagine developing advanced ideas in your own field and testing them in your own environment! Validity Labsseed@validitylabs.org Postplatz 1 6300 Zug Switzerland 26feb18:0019:30Blockchain for Bank(st)ersTrustsquare ZürichDaniel Gasteiger will interview Nathan Kaiser on his new position at Cardano Foundation as the chairperson of one of the most remarkable blockchain projects out there. He will touch onDaniel Gasteiger will interview Nathan Kaiser on his new position at Cardano Foundation as the chairperson of one of the most remarkable blockchain projects out there. He will touch on the Foundation’s role within the Cardano project and how he became chairperson at the end of 2018 during a difficult but necessary transition time. Nathan will furthermore emphasize on CF’s goals and role within the industry going forward, which are aligned with the Foundation’s partners IOHK and Emurgo.Nathan Kaiser has over two decades of professional experience as a lawyer. A Swiss national, he is admitted as an attorney-at-law and foreign lawyer to the Zurich, Berlin and Taipei bar associations, as well as at the Hong Kong law society. Nathan regularly speaks at and hosts events pertaining to law & tech, and notably legal issues related to the digital economy, digital assets and cryptocurrency, and early-stage investments in Asia’s high-tech industry, ranging from aerospace to fintech. He is also a mentor, advisor and angel investor to various startups worldwide, always with a cutting-edge technology focus.As a founding partner of the Greater China law firm Eiger, Nathan spent almost two decades between Shanghai, Hong Kong and Taipei, with regular visits to Europe, advising clients in investment, corporate law, commercial trade, and commercial disputes. A pioneer in Asia with regard to the legal, business and technical aspects, Nathan’s law firm was the first in the region to accept Bitcoin as a form of payment. This compliments his strong interest in technology, ranging from the semiconductor industry to the digital economy, in the heart of Asia.Nathan is currently the chairperson at Cardano Foundation and a fellow at the Berkman Klein Center of Harvard University in Cambridge, Massachusetts.Originally from Solothurn, Switzerland, Nathan studied in Lausanne, Strasbourg and St. Gallen. Prior to going to Asia, he worked in Zurich, Lausanne and Paris.Cardano is being developed as a decentralised public blockchain protocol and smart contracts platform that is fully open source. It is a collection of base layer protocols that will enable an ecosystem of decentralised applications to develop, facilitating the peer-to-peer economy, enabling the tokenization of assets and disrupting existing models of trust, identity and collective decision making. Trust Squareinfo@trustsquare.ch Bahnofstrasse 3, 8001 Zürich WHAT IS WORLD BLOCKCHAIN SUMMIT? World Blockchain Summit is a global series of elite gatherings that take place in 15+ destinations across the world. It connects global blockchain gurus and technology playersWorld Blockchain Summit is a global series of elite gatherings that take place in 15+ destinations across the world.It connects global blockchain gurus and technology players in this space including emerging startups – with regional businesses, government authorities, IT leaders, tech entrepreneurs, investors and blockchain developers.The summit features enterprise use-cases, government use-cases, inspirational keynotes, panel discussions, tech-talks, blockchain exhibition, startup pitch competitions, and a host of networking opportunities. Currency: USD - United States DollarGBP - British Pound SterlingEUR - EuroCNY - Chinese YuanAUD - Australian DollarCAD - Canadian DollarAED - United Arab Emirates DirhamAFN - Afghan AfghaniALL - Albanian LekDZD - Algerian DinarAOA - Angolan KwanzaARS - Argentine PesoAMD - Armenian DramAWG - Aruban FlorinAZN - Azerbaijani ManatBSD - Bahamian DollarBHD - Bahraini DinarBDT - Bangladeshi TakaBBD - Barbadian DollarBYR - Belarusian RubleBZD - Belize DollarBMD - Bermudan DollarBTN - Bhutanese NgultrumBTC - BitcoinXBT - BitcoinBOB - Bolivian BolivianoBAM - Bosnia-Herzegovina Convertible MarkBWP - Botswanan PulaBRL - Brazilian RealBND - Brunei DollarBGN - Bulgarian LevBIF - Burundian FrancKHR - Cambodian RielCVE - Cape Verdean EscudoKYD - Cayman Islands DollarXOF - CFA Franc BCEAOXAF - CFA Franc BEACXPF - CFP FrancCLP - Chilean PesoCLF - Chilean Unit of Account (UF)COP - Colombian PesoKMF - Comorian FrancCDF - Congolese FrancCRC - Costa Rican ColónHRK - Croatian KunaCUP - Cuban PesoCZK - Czech Republic KorunaDKK - Danish KroneDJF - Djiboutian FrancDOP - Dominican PesoXCD - East Caribbean DollarEGP - Egyptian PoundERN - Eritrean NnakfaEEK - Estonian KroonETB - Ethiopian BirrFKP - Falkland Islands PoundFJD - Fijian DollarGMD - Gambian DalasiGEL - Georgian LariGHS - Ghanaian CediGIP - Gibraltar PoundXAU - Gold (troy ounce)GTQ - Guatemalan QuetzalGNF - Guinean FrancGYD - Guyanaese DollarHTG - Haitian GourdeHNL - Honduran LempiraHKD - Hong Kong DollarHUF - Hungarian ForintISK - Icelandic KrónaINR - Indian RupeeIDR - Indonesian RupiahIRR - Iranian RialIQD - Iraqi DinarILS - Israeli New SheqelJMD - Jamaican DollarJPY - Japanese YenJEP - Jersey PoundJOD - Jordanian DinarKZT - Kazakhstani TengeKES - Kenyan ShillingKWD - Kuwaiti DinarKGS - Kyrgystani SomLAK - Laotian KipLVL - Latvian LatsLBP - Lebanese PoundLSL - Lesotho LotiLRD - Liberian DollarLYD - Libyan DinarLTL - Lithuanian LitasMOP - Macanese PatacaMKD - Macedonian DenarMGA - Malagasy AriaryMWK - Malawian KwachaMYR - Malaysian RinggitMVR - Maldivian RufiyaaMTL - Maltese LiraMRO - Mauritanian OuguiyaMUR - Mauritian RupeeMXN - Mexican PesoMDL - Moldovan LeuMNT - Mongolian TugrikMAD - Moroccan DirhamMZN - Mozambican MeticalMMK - Myanma KyatNAD - Namibian DollarNPR - Nepalese RupeeANG - Netherlands Antillean GuilderTWD - New Taiwan DollarNZD - New Zealand DollarNIO - Nicaraguan CórdobaNGN - Nigerian NairaKPW - North Korean WonNOK - Norwegian KroneOMR - Omani RialPKR - Pakistani RupeePAB - Panamanian BalboaPGK - Papua New Guinean KinaPYG - Paraguayan GuaraniPEN - Peruvian Nuevo SolPHP - Philippine PesoPLN - Polish ZlotyQAR - Qatari RialRON - Romanian LeuRUB - Russian RubleRWF - Rwandan FrancSHP - Saint Helena PoundSVC - Salvadoran ColónWST - Samoan TalaSTD - São Tomé and Príncipe DobraSAR - Saudi RiyalRSD - Serbian DinarSCR - Seychellois RupeeSLL - Sierra Leonean LeoneXAG - Silver (troy ounce)SGD - Singapore DollarSBD - Solomon Islands DollarSOS - Somali ShillingZAR - South African RandKRW - South Korean WonXDR - Special Drawing RightsLKR - Sri Lankan RupeeSDG - Sudanese PoundSRD - Surinamese DollarSZL - Swazi LilangeniSEK - Swedish KronaCHF - Swiss FrancSYP - Syrian PoundTJS - Tajikistani SomoniTZS - Tanzanian ShillingTHB - Thai BahtTOP - Tongan Pa?angaTTD - Trinidad and Tobago DollarTND - Tunisian DinarTRY - Turkish LiraTMT - Turkmenistani ManatUGX - Ugandan ShillingUAH - Ukrainian HryvniaUYU - Uruguayan PesoUZS - Uzbekistan SomVUV - Vanuatu VatuVEF - Venezuelan Bolívar FuerteVND - Vietnamese DongYER - Yemeni RialZMW - Zambian KwachaZMK - Zambian Kwacha (pre-2013)ZWL - Zimbabwean Dollar

remarks at the 2019 World Economic Forum in Davos, Switzerland.Allaire says cryptocurrency skeptics are merely that way because they’re unfamiliar with the new technology.“People throw around ‘crypto’ like it’s a bad thing — it’s scary,” Allaire said January 23. “Guess what? Cryptography is at the foundation of protecting modern society, human privacy. It’s a fundamental tool of our cyber defenses. It’s a fundamental tool of every corporation.”Allaire pointed out that modern society relies on digital infrastructure. Accordingly, humanity ultimately won’t be able to survive the digital age without digital currencies.“Crypto is fundamental to the future,” he said. “We need tamper-proof, resilient, decentralized infrastructure if we want society to survive the digital age.”We see this as much more transformative even than the web. We think this has a long arc that will have a far greater impact on our civic institutions and our economic institutions.Circle CEO made the case for cryptocurrencies at the 2019 World Economic Forum in Davos.Some believe that traditional bankers love to trash crypto because they’re secretly threatened that cryptocurrencies will render legacy financial institutions obsolete. However, Jeremy Allaire insists that central banks and the crypto ecosystem can co-exist.“We’re huge proponents of central bank digital currency and we believed in that for a very long time,” Allaire says. “Our view is that the creation of cryptocurrencies that are based on central bank money is happening in the private sector first. We launched USD Coin last fall. It’s growing rapidly.”Allaire says cryptocurrencies are versatile because they can run over a blockchain that works interoperably with tens of millions of digital wallets around the world.It can be used in lending transactions, in payment transactions. It allows you to make dollar payments, globally, at pennies and in seconds to minutes. It’s a really powerful innovation.Jeremy Allaire basically double-downed on his bullish outlook from December 2018. At the height of the bear market, Allaire predicted that the bitcoin price will rocket over the next three years.Regardless of its daily price, Allaire believes bitcoin has a “very significant role” to play as a scarce, non-sovereign store of value.Bitcoin Price Will Soar over Next Three Years: Circle CEO Jeremy Allaire https://t.co/cJAQFUEzrjHowever, not everyone at Davos is bullish about cryptocurrencies.As CCN reported, Huw van Steenis — the senior adviser to Bank of England Governor Mark Carney — trashed crypto as worthless.Crypto is Worthless, Fails Basic Financial Tests: Bank of England Adviser https://t.co/tDsyv1wk7TSimilarly, PayPal CEO Dan Schulman is skeptical that bitcoin will achieve mass adoption by merchants because he says it’s not a currency and it’s inconvenient.“We’re not seeing many retailers at all accept any of the cryptocurrencies,” Schulman said.Some on Twitter reacted to Schulman’s anti-bitcoin shade by noting that less than 1% of the world used PayPal when it first launched. And look at it now. So the moral is: Revolutions take time.https://t.co/OhdHMUyHXv Please just SHUT UP with your blurbs, are you just pretending to be stupid? I remember when less than 1% of the world used Paypal, however after years of adoption of their tools and concepts they eventually grew. #decentralize #CoinLogiq #DASH pic.twitter.com/o4BDhna7xWSamantha Chang is a politics writer at BizPac Review and a financial editor. She is a law school graduate and an alum of the University of Pennsylvania. You can follow her on Twitter at Samantha_Chang.

Allaire — CEO of Circle — took their time to answer any and all questions coming their way. We have listed some of the most interesting questions and answers below. Also read: Bitcoin’s Security in the Internet of Things One of the more obvious questions would be whether or not Gavin Andresen knows who Satoshi Nakamoto is, or whether he and Satoshi are one and the same. It became crystal clear this is not the case, although that doesn’t diminish Gavin’s passion for Bitcoin in the slightest. However, that doesn’t mean Bitcoin’s technology will be interesting enough in x amount of years from now. “Eventually the technology behind Bitcoin will stop being interesting to me– and that’s when I’ll wander off and try to find something else to keep me busy.That might surprise some people– after all, if I believe that Bitcoin will have a positive impact on the world, why not work on it forever? I’ll feel comfortable stepping away because Bitcoin gets the incentives right– there are lots of people with strong incentives to see Bitcoin succeed, and any one person’s ability to help make Bitcoin succeed becomes smaller and smaller over time.” Bitcoin could benefit from various technological innovations, but bringing these features to this popular digital currency is a different matter altogether. When asked which feature Gavin would love to bring to Bitcoin, assuming it can be done bug-free and without impacting performance, he answered “better transaction privacy.” Quite an interesting choice, which will undoubtedly spur many future discussions. On the topic of how we need to push Bitcoin adoption over the next few years: “How will an ordinary person, going about their everyday business of living their life, obtain some bitcoin? Or what will motivate them to go out of their way to get some? I don’t know the answer, but until there IS an answer I think pushing more merchant adoption for brick & mortar merchants will be mostly a waste of time (there’s a better case to be made for online merchants who want to sell their products to a worldwide audience).” All in all, there were a ton of interesting questions being asked, and it is well worth your time to check out the Gavin Andresen AMA thread on the Bitcoin.com forum. It is positive to see the general success of this AMA event so far, even though this was just the first of many days. Even companies like Circle find themselves talking to major ecosystem players at regular intervals. Keeping in mind there is an ongoing debate regarding Bitcoin and the block size issue, these discussions are of great importance to all companies active in the digital currency ecosystem. Jeremy Allaire stated it as follows: “I think companies and projects that have built on the bitcoin network would really like to see these issues addressed. We’ve publicly said we think that the BIP 101 proposal is a reasonable solution, though we’d be happy to see another consensus proposal emerge soon. The bigger issue is what this lack of results represents, which is a complete breakdown in the ability of the ecosystem and development community to meaningfully iterate on and improve bitcoin, and highlights the weakness of not having a more formal standards process for the evolution of this platform.” Most of the questions asked revolved around Circle and how the company is positioning itself towards customers. With all of the regulatory requirements to take into account, Circle recently defaulted their online wallets to USD balance, rather than denominating it in Bitcoin. Some people feel the company wants to “distance itself from Bitcoin,” although this is just a way of creating a consumer payment app to make storing and using money easier. On the topic of the newly formed Blockchain Alliance, Jeremy Allaire stated: “I think a lot of the reaction to this org being formed were / are overblown, implying some kind of secret operating relationships, or sharing customer records, and a lot of other crazy stuff. My understanding is that every quarter or so compliance and risk staff from companies can meet with law enforcement counterparts to share what they are learning.” Make sure to read through the entire thread on the Bitcoin.com forum to see what else you have missed out on. A lot more questions were asked regarding various topics, and all of them were answered by Jeremy Allaire. All in all, the first day of this Bitcoin AMA event has been eventful, and there is much more to come! By the time you are reading this article, Wences Casares, Oron Barber, and Kristov Atlas will have been answering dozens of questions on the Bitcoin.com forum. To keep the show trucking along, there will be three more prominent names making appearances over the next two days. Up first, Juan Garavaglia — CEO of RootStock.io — will be gladly waiting for any questions our amazing Bitcoin community might have. On November 5th, there will be a double header, as both Ben Davenport and Bruce Fenton will partake in this Bitcoin AMA event. BitGo has been the frontrunner regarding Bitcoin security, and it will be interesting to see what kind of questions Ben Davenport will be facing during his AMA slot on the Bitcoin.com forum. The name Bruce Fenton will need no further introduction; this person is known well by the entire Bitcoin community. 2015 has been a slightly turbulent year for the Bitcoin Foundation, and you can rest assured Bruce Fenton will have a thing or two to say about that, assuming is brave enough to ask the right questions. Who are you looking forward to over the next few days? Let us know in the comments below! Images courtesy of Bitcoin.com, Gavin Andresen, Jeremy Allaire https://t.co/lhsBTbpv8p #bch pic.twitter.com/5vE55uBMXo This week, the text messaging platform Cointext announced the public launch of its feature service that allows anyone with a mobile phone to transact with bitcoin cash (BCH) without internet services… read more. https://t.co/vRHIpxTpKd #bitcoinjobs #jobhunt #cryptojobs pic.twitter.com/4gs4muoiiP News.Bitcoin.com is Hiring Editorial Staff – In Tokyo, Stockholm and Your Town. Are you an experienced news editor or a news reporter with a nose for crypto? We are on a roll – increasing our readership every day – serving millions of readers each month… read more. Introducing the Simple to Use and Robust https://t.co/UtJJm8netW Wallet https://t.co/w5xA4uDpU9 #bitcoinwallet pic.twitter.com/hB4KCBzqjL Download the Bitcoin.com Wallet right to your device for easy and secure access to your bitcoins. Perfect for beginners, the Bitcoin.com Wallet makes using and holding bitcoins easy. No logins required. Facebook has recently made some changes to show you less news and more family-oriented pics and videos – even though you’ve previously subscribed. Here’s how to make Facebook show you our content again; Facebook has recently made some changes to show you less news. Here’s how to make Facebook show you our content again; a. Visit our Facebook Page https://t.co/d5QIuhCFPt b. Click the “Follow” button under our cover image. c. Select the “See first” option. pic.twitter.com/tFmrF73WQ7 — Bitcoin News (@BTCTN) February 19, 2018 1. Visit the Bitcoin.com Facebook Page. 2. Click the “Follow” button under our cover image. 3. Select the “See first” option. Get the latest price charts, statistics and our news feed on your site. Check out our widget services. We also deliver bite-sized news to your favourite messaging app; join our Telegram channel.

prevail. Allaire made his remarks during an interview with Fortune’s crypto-focused segment The Ledger on March 19.As reported, Circle launched its US dollar-backed, ERC-20 stablecoin USD Coin (USDC) last fall, via the consortium Centre, which counts crypto exchange Coinbase and mining firm Bitmain as members. Centre is also the name for the token’s open network and open source protocol, which provides interoperability in a bid to secure wide ecosystem support for the asset.In his interview with The Ledger, Allaire welcomed recent, unconfirmed reports of Facebook’s still-secretive plans to launch its own stablecoin asset, which would reportedly be integrated for payments within a canopy messaging service for WhatsApp, Facebook Messenger and Instagram:“[Facebook’s reported plans are] very, very positive in our view overall. The approach that we’ve taken is to create a consortium model. When we think about a standard for how fiat money works on the internet, it’s really critical that it’s an open standard that many companies can implement, that has an self-governance mechanism — [that provides] a technical standard as well as a membership framework.”Using the metaphor of creating “an HTTP for money on the internet” that could support global, broad participation from multiple actors, Allaire said he believed such an approach is “ultimately going to be much more successful than a single company issuing a [crypto]currency themselves.”As reported yesterday, the Winklevoss twins have echoed Allaire’s perspective in affirming the Facebook stablecoin development as a positive sign for the crypto industry as a whole, while underscoring the project’s prospective limitations.This year, United States banking giant JPMorgan Chase revealed its own plans to launch a proprietary stablecoin, which has also drawn criticisms over its lack of interoperability.When Circle closed its Bitmain-led $110 million fundraising round to raise capital for the USDC project last May, its private valuation hit $3 billion. More recent figures for the firm, in the aftermath of the protracted crypto bear market, have not been officially reported — although Allaire told the Ledger the company continued to see “very significant growth year last year.”In summer 2018, Allaire pitched stablecoins as a vital component of the infrastructure for creating a tokenized global economy.The largest Swiss online retailer, Digitec Galaxus, has started accepting crypto payments at its two…Avnet, one of the world’s largest distributors of electronic components and services, is now accepting cryptocurrency…Leading Swiss online retailer Digitec Galaxus has announced that it will now accept cryptocurrencies, according… {"duration": "400ms","fill": "both","iterations": "1","direction": "alternate","animations": [{"selector": "#scrollToTopButton","keyframes": [{"opacity": "1","visibility": "visible" }] }] } {"duration": "400ms","fill": "both","iterations": "1","direction": "alternate","animations": [{"selector": "#scrollToTopButton","keyframes": [{"opacity": "0","visibility": "hidden" }] }] }

Bitcoin Core and Bitcoin Unlimited, especially since some have claimed that BU supporters have tried to block Segwit activation in order to take advantage of Asicboost’s 30% performance hike. However, many people reject claims that Asicboost is a “hack” or “exploit,” and instead they call it an optimization.  Also read: Developers Clash Over Accusations of “Exploit” and Secret Core Organization Bitcoin.com has had the opportunity to speak with a developer that has been researching Asicboost. We reached out to Jeremy Rubin to get his professional take on whether Asicboost is an exploit or an optimization, because he recently penned a fascinating article explaining its ins and outs. We also asked him to clarify for our nontechnical readers the differences between a hard fork and a soft fork. Bitcoin.com (BC): Tell me a little about your background and history with Bitcoin and cryptography? Jeremy Rubin (JR): I graduated MIT in 2016 with an SB in Computer Science and Engineering and a Masters of Engineering in Electrical Engineering and Computer Science. I wrote my thesis under Professor Ron Rivest. I first got into Bitcoin in 2011. In 2013, I did a project called Tidbit which aimed to replace ad-monetization with cryptocurrency mining. We became embroiled in a legal battle with the State of New Jersey. In 2014, I launched a project to distribute $100 in Bitcoin to every MIT undergrad. In 2015 I co-founded the MIT Digital Currency Initiative (the DCI) which, at its launch, employed Wladimir, Cory, and Gavin. That year I also co-founded the Scaling Bitcoin conference series and served as the first Program Chair. I am currently a freelance Bitcoin developer, contributing to Bitcoin Core, doing basic research on cryptocurrency, as well as teaching. BC: What exactly is Asicboost and what is your history with it? JR: I heard about Asicboost a while back, but didn’t pay much attention to it. I then read Greg’s email more recently and spent some time working through all the claims; I published my notes on the subject here. I have no other history with Asicboost. Previously I did participate in an effort (led by Patrick Murck, Kat Walsh, and Elizabeth Stark, and others if memory serves) to coordinate opening up the patent space in Bitcoin. I don’t think that our patent system is very compatible with an open standards based technology community like Bitcoin. But I don’t recall anyone being aware of Asicboost at that time (the year prior to the announcement of Asicboost). BC: Is Asicboost an optimization or exploit? JR: In my opinion, Asicboost is primarily an optimization. This is not mutually exclusive with it being an exploit; the difficulties around utilizing Asicboost and implications of certain ways of using Asicboost might lend itself to compromising the balance of hashpower on the network, but that is a separate, more involved, discussion. It’s a little bit like asking if a knife is a tool or a weapon. In either case, it is a tool, but it’s weapon status is dependent on what it is used for. BC: Judging by your article, it appears that Asicboost could be used by miners in a fair and useful way. Did I read this correctly? JR: Yes. Asicboost, in both it’s overt and covert (I actually dislike that terminology) can be used in a reasonable way. But I think Asicboost interacts with our understanding of Bitcoin in unexpected ways. I dislike the terminology overt and covert. I find that dichotomy to be disingenuous to the problem underlying Asicboost. In my opinion, it is completely acceptable to have something like Asicboost covertly or overtly. I prefer terminology such as Gnostic and Agnostic Proof of Work because I think that is closer to the heart of the matter. The chief consideration is the extent to which the optimization interferes with Bitcoin protocol development and Bitcoin’s consensus guarantees (i.e., if the Proof of Work is agnostic to the underlying protocol). If that bears out to be the case that the way Asicboost works is gnostic to the protocol, it’s going to require much more careful thought on how to compromise. I believe Greg Maxwell’s proposal has a lot of the right ideas if miners use Asicboost in a protocol upgrade incompatible way, but I think that the suggested solution forces Asicboost to be more overt (by modifying the version bits) is deficient. I’d like to see a solution that keeps Asicboost covert while making it compatible with protocol changes, but I know that Greg spent a fair amount of time making his proposal to be minimally disruptive to Asicboost so it’s unclear there is a better compromise. I threw together a quick diagram. The current state of affairs, according to Greg’s e-mail is the black dot. Greg’s proposal moves it to the white dot. I’d like to see a solution that is the red dot. I can’t imagine wanting a solution like the ‘X’! BC: What are the differences between a hard fork and soft fork? JR: I think an easy way to think both hard and soft forks are like going to sleep and waking up in a Twilight Zone episode. In both situations, there’s something off or unexpected about how everyone is acting. A hard fork is a bit like waking up to everything being in a new language. You’ll obviously not be able to communicate. A soft fork equivalent would be eliminating double negatives from the language–you might not even notice that anything was different (until you try to tell someone, “I don’t want nothing”, and they don’t understand what you are asking for). So both bear risks, but in general a soft fork is designed to be less surprising and cause less network disruption. Both soft and hard forks are on a continuum, some soft forks look a lot more like hard forks, but the distinction I laid (hard fork: changing the rules; soft fork: tightening the existing rules) is generally accurate. Do you believe Asicboost is more of an exploit or an optimization? Let us know in the comments below! Images courtesy of linkedin.com, Jeremy Rubin, and Shutterstock Do you want to talk about bitcoin in a comfortable (and censorship-free) environment? Check out the Bitcoin.com Forums — all the big players in Bitcoin have posted there, and we welcome all opinions. https://t.co/MEllI7R6jt #bch pic.twitter.com/5W0utZBfYP This week the Bitcoin ABC developers officially announced the much anticipated Bitcoin Cash network hard fork on May 15… read more. https://t.co/vRHIpxTpKd #bitcoinjobs #jobhunt #cryptojobs pic.twitter.com/4gs4muoiiP News.Bitcoin.com is Hiring Editorial Staff – In Tokyo, Stockholm and Your Town. Are you an experienced news editor or a news reporter with a nose for crypto? We are on a roll – increasing our readership every day – serving millions of readers each month… read more. Introducing the Simple to Use and Robust https://t.co/UtJJm8netW Wallet https://t.co/w5xA4uDpU9 #bitcoinwallet pic.twitter.com/hB4KCBzqjL Download the Bitcoin.com Wallet right to your device for easy and secure access to your bitcoins. Perfect for beginners, the Bitcoin.com Wallet makes using and holding bitcoins easy. No logins required. Facebook has recently made some changes to show you less news and more family-oriented pics and videos – even though you’ve previously subscribed. Here’s how to make Facebook show you our content again; Facebook has recently made some changes to show you less news. Here’s how to make Facebook show you our content again; a. Visit our Facebook Page https://t.co/d5QIuhCFPt b. Click the “Follow” button under our cover image. c. Select the “See first” option. pic.twitter.com/tFmrF73WQ7 — Bitcoin News (@BTCTN) February 19, 2018 1. Visit the Bitcoin.com Facebook Page. 2. Click the “Follow” button under our cover image. 3. Select the “See first” option. Get the latest price charts, statistics and our news feed on your site. Check out our widget services. We also deliver bite-sized news to your favourite messaging app; join our Telegram channel.

Thursday during a Reddit AMA that bitcoin would become more significant as a store of value than as a payment and settlement protocol. He predicted that there would be millions of different crypto assets in the future and each one of them will serve a specific purpose. Fiat currency assets and stablecoins, for instance, will be used for payments and settlements while commodity assets will act as a fuel for utilizing protocols, networks, and applications.“Our view,” explained Allaire, “is that crypto assets will continue to increase in all their forms […] We [think] SOV assets like Bitcoin will become much much larger and more broadly adopted and those other crypto assets will be used in an incredibly broad array of everyday transactions.”Critics argue that bitcoin would be anything but a store of value unless it becomes stable. Janet Yellen, the former chief of the Federal Reserve, said last year that the coin was not an efficient mean of processing payments. Financial service firm Allianz also dismissed Bitcoin in its 2018 report, saying that the cryptocurrency had no intrinsic value in contrast to the fellow store of value assets like sovereign bonds, equities or paper money.Bitcoin price dropped more than 9% Thursday in corrective sell-off | Source: TradingView.comHowever, believers counterargue by saying that even the US Dollar has no intrinsic value: that the only reason why people trust the greenback is that they have faith in their government. That also helps clarify the nostalgia for the Gold standard, when the government papers had their supply measured by the amount of the precious metal they held.“Dig a bit deeper, and it becomes clear that gold itself has no intrinsic value,” wrote Zachary Karabell, the head of Global Strategies Envestnet. “Its supply is limited (as is bitcoin, a strength of the digital currency), creating a relationship between supply and demand that cannot easily be manipulated.”‘Big Four’ audit firm KPMG also believed that bitcoin could attain a store of value asset, providing institutions start backing it in large scale. But unless then, the cryptocurrency will likely remain speculative owing to its broader exposure to volatile retail markets.Allaire hinted that focus from bitcoin had to be shifted to enable crypto ecosystem for real-time user adoption. He said that stablecoins like Circle USD (Ticker: USDC) are more attractive, providing they innovate to scale the throughput and reduce transaction costs to zero. Setting their agenda for 2019, Allaire confirmed that Circle would expand USDC’s adoption among retailers.“Centre’s initial release of the USDC smart contract and scheme relies on ERC-20 tokens, which right now means that there’s a bit of a burden on the end-user to have wallets where they pay gas fees and the like,” stated Allaire. “We believe that we need Layer 2 approaches that can radically scale the throughput and lower the cost to closer to zero for USDC payments, combined with much much better consumer payment UX than what you see in crypto wallets today.”Allaire also announced that would seek support from payment processing companies and merchant acquirers to integrate USDC into their solutions.Yashu Gola has been working as a cryptocurrency analyst/journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen web.Jeremy Allaire, co-founder & CEO of payments company Circle, has said that as the sector continues to see new market entrants, stablecoins using open standards will prevailNew Bitmain Z11 Antminer Comes With Pledge to Preserve Values of ZcashCopyright © 2019 | CryptoNewsMonitor.com by Crypto News Monitor

payments technology company backed by Goldman Sachs.While Allaire was reticent to set a specific bitcoin price target, he predicts that its value will unquestionably be a lot higher in three years than it is now.“I don’t make significant price predictions,” Allaire told CNBC on Dec. 14 (video below). “But it’s certainly going to be worth a great deal more than it’s worth today. I am long in the market.”When asked what will bring people who lost money in the current bear market back to the table, Allaire said it’s because the fundamentals of cryptocurrencies haven’t changed simply because their prices cratered.Regardless of its daily price, Allaire said bitcoin has a “very significant role” to play as a non-sovereign store of value.“The key thing with bitcoin is that it is unique in its security and its scale,” Allaire explained. “As an idea that we need a scarce, non-sovereign store of value that individuals can hold in a protected fashion — that’s attractive all around the world.”While naysayers have gleefully proclaimed the death of bitcoin, Allaire said it would survive over the long haul, and so will other cryptocurrencies.Allaire said some virtual currencies would die off in an overcrowded market due to competitive forces, but it’s not a zero-sum game where the success of one digital currency means the death of all the others.“I do not think it’s going to be a winner-take-all [scenario],” Allaire said. “We have a phrase: the Tokenization of Everything. We think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of them in years.”As CCN reported, Mike Novogratz — the founder of crypto investment bank Galaxy Digital — extolled the tokenization of real estate, saying asset tokenization is an emerging trend.Novogratz said several companies are tokenizing luxury condos in the tony real estate markets of New York and Aspen, Colorado.“You’re going to see more and more of that,” he vowed. “It’s a part of this broader movement of tokenization, digitalization in blockchain. The blockchain makes a lot possible.”As Crypto Prices Tumble, Mike Novogratz Pounds the Table on Real Estate Tokenization https://t.co/838mGax8QnWhen asked when regulation will happen in the crypto industry, Circle CEO Jeremy Allaire said digital assets have actually been regulated for some time.“Just to be clear, the US has more regulatory clarity than almost any other market in the world,” he said. “The exchange of digital currency with the banking system has been regulated for over five years.”Allaire also noted that Circle and Coinbase — the crypto exchange and brokerage giant — are already regulated and have been pushing for sensible, targeted regulation.“Companies like Circle and Coinbase are regulated under the Bank Secrecy Act and money-transmission laws,” he explained. “That’s very significant from a consumer protection and financial-crimes perspective.”Allaire added: “We [at Circle] are advocating for [regulation]. We have been very active with Congress, with policymakers, with agencies. There’s a lot of engagement.”As CCN reported, the regulatory wheels are already in motion.Last week, two US representatives introduced legislation to bolster the United States’ position as a leader in the industry, citing the “profound potential” of cryptocurrencies and blockchain to fuel the next economic boom.US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation https://t.co/xeTXBHA5vZCongressmen Darren Soto and Ted Budd urged lawmakers to ensure that the US stay competitive as these new technologies start inching toward mainstream adoption.“Virtual currencies and the underlying blockchain technology has a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.”