Tuesday, October 16, 2018

A new paradigm

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October 16, 2018

FAILURE TO LAUNCH: The ethereum blockchain's much-anticipated upgrade Constantinople may be pushed into 2019, developers say.

The news follows a failed test of the code upgrade on the blockchain's testnet that resulted in a split of the test network. Though the upgrade was not successful, developers took solace in the fact that this was just a test, thus reaffirming the point of tests.

Independent ethereum developer Lane Rettig told CoinDesk: “We broke Ropsten, but it's a testnet, and it will be fixed, and this is precisely the point of releasing to a testnet first. It's really fun, exciting, and reassuring to see this process play out as designed." Full Story

ALIVE AGAIN: Early Tuesday morning, crypto exchange Bitfinex revealed a "new, improved and increasingly resilient" deposit system, for verified users.

Under the new process, accounts will be subject to a 48 hour account verification period. The actual deposit process will take another six to 10 days. This comes after repeated complaints on Monday by users who were unable to either withdraw or deposit fiat currency in the exchange.

However, Bitfinex representatives have denied any such problems. Full Story

A NEW ORDER: The Paradigm Foundation, having raised $1 million, is set to build a decentralized order book uniting decentralized exchanges together.

Paradigm aims to solve the speed problem that exchanges face currently. Utilizing 0x to build out their platform, Paradigm CEO Liam Kovatch says that, "It is completely independent of ethereum."

This new protocol has garnered the attention of Polychain Capital and Dragonfly Capital Partners. Full Story



Tether (USDT) saw some wild times over the past couple of days. The decoupling of its peg to the dollar caused a massive flight to other cryptocurrencies.

A particularly interesting data point had to do with the risk premium for Tether compared to the dollar. Those selling bitcoins demanded about 4.46 percent more Tethers than dollars. The market was judging Tether to be riskier than the dollar and thus demanded more reward.

The risk premium was calculated using the weighted average across various exchanges sourced by untether.space.

For more research insights check out the CoinDesk Research section here. You can also follow CoinDesk's research analyst Peter Ryan on Twitter for the latest insights.
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REVERSAL OF FORTUNE? Yesterday's surge in the value of bitcoin has prevented the legacy cryptocurrency from crossing the 21-day exponential moving average (EMA) into bear territory. Though analysts cannot guarantee a bull market, they predict that as long as bitcoin trades above the EMA, which was $6,160 as of this morning, it could be anyone's game. Full Story
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BUSINESS INSIDER: Business Insider reports that Europe is leading the world in total funding for token sales, with $4.1 billion in tokens sales this year. The figures were far above the $2.6 billion in the US and $2.3 billion raised in Asia.

Of the reasons outlined, the report focuses on the fact that the region hosts more developers and has lax regulations regarding cryptocurrencies.

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INDIAN EXPRESS:
 After a year long investigation into a fraudulent cryptocurrency scheme in India, the case has hit a dead end.

The Indian Express reports that the investors are unwilling to come forward due the the lack of proper regulations on cryptocurrency in the country, and do not wish to be subjected to federal scrutiny.

WIRED: At the Wired25 summit, Neha Narula, director of the Media Lab's Digital Currency Initiative, cautioned against assuming that cryptocurrency will evolve in the same the internet did.

In the report by WIRED, Narula explained that the world was not as aware when the internet was developing but now everybody wants to see value in cryptocurrency and blockchain.
 
We've launched our first-ever podcast, "Late Confirmation," a digest of top stories in the blockchain world, delivered daily from the team at CoinDesk.

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