Day: April 20, 2023

Blockchains like Solana brag about TPS — but it’s misleading

boss

The throughput of blockchains — namely, their ability to process X number of transactions per second (TPS) — is often touted in such a way as to downplay other considerations, such as decentralization and security. The blockchain trilemma, of course, acknowledges that succeeding in all three areas is challenging, though not impossible. There is no denying that throughput and scalability are important, indeed vital if blockchains are eventually to become the rails on which the financial system is run. However, there is a major misconception surrounding the metric used to…

TransUnion to begin providing identity-protected credit scoring for DeFi lending

boss

TransUnion, one of the three major United States credit reporting agencies, announced on April 20 that it would begin supplying credit scoring to public blockchain networks. Off-chain credit data have not previously been available to Web3 and decentralized finance (DeFi) applications. In the new TransUnion service, credit information will be made available to decentralized applications, or DApps, at the consumer’s request. Complete credit information will be delivered to the consumer, and excerpts will go to the DApp. TransUnion partnered with Spring Labs and Quadrata to provide credit data through a digital…

U.S. SEC Warns Advisers They Need to Know Crypto Before Recommending to Clients

“Certain products are more complex or have additional risk features, which may make it more difficult for firms and their financial professionals to develop an understanding,” according to the SEC guidance, and “crypto asset securities” are among the examples provided. So, when brokers or advisers talk to customers about crypto, the advisers must ensure that those they’re advising understand the products and whether crypto offerings make sense for clients’ specific financial situations, according to the bulletin, which represents the staff’s view on existing regulations and isn’t a new rule. Source

Industry leaders and policymakers react to passage of MiCA in EU

boss

Though a crypto-focused regulatory framework still needs approval from the European Council before final passage, many in the space have reacted positively to the Markets in Crypto Assets, or MiCA, bill moving forward. On April 20, the European Parliament voted to pass MiCA after two delays starting in November 2022. The crypto framework aims to create a consistent regulatory framework for crypto assets among the European Union member states. Though EU lawmakers still need to conduct legal and linguistic checks for MiCA as well as publish the bill in the…

Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023 – Mining Bitcoin News

boss

Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176. Bitcoin’s Difficulty Has Risen More Than 22% Since Block Height 778,176 In less than two months, Bitcoin’s difficulty surged by over 22% and reached an all-time high on Thursday, April 20. The current difficulty of 48.71 trillion implies an exceptionally high average hash rate…

Researchers find cryptocurrency ‘signatures of maturity’ similar to equities market

boss

A pair of computer science researchers recently published pre-print research indicating that the nascent cryptocurrency market is beginning to show a level of maturity similar to the traditional equities market.  Dubbed “Collective dynamics, diversification and optimal portfolio construction for cryptocurrencies,” the paper was written by Dr. Nick James, a fellow at the University of Melbourne’s Centre for Data Science, and Max Menzies, a professor at the Beijing Institute of Mathematical Sciences and Applications, Tsinghua University. Related: What’s next for EU’s crypto industry as European Parliament passes MiCA? The pair set…

Despite regulatory clarity, Hong Kong crypto ETFs experience lukewarm demand

boss

According to a report published by the Hong Kong Stock Exchange (HKSE), two Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in “seizing opportunities in virtual asset development.” However, the numbers appear somewhat lukewarm when viewed in a global context. On Apr.…

SAI․TECH’s SAITIME 2023 Will Unveil Revolutionary Products for Mining and Computing Industry – Press release Bitcoin News

boss

press release PRESS RELEASE. SINGAPORE – SAI.TECH Global Corporation, a clean-tech company specializing in Bitcoin mining, heating, and power industry, hosted its virtual corporate annual conference, SAITIME 2023 on April 20th at 08:30 EST. The virtual conference was hosted by founder & CEO Arthur Lee and was live-streamed on YouTube and Zoom. Live tweets and discussions were also hosted on Twitter. The conference featured the consolidation of the SAIHUB solution, which aims to build a cleaner world through the green transition of the computing industry and the research and promotion…