Tuesday, February 12, 2019

Ripple Bonuses / Lightning Network on Square / Drought / DApps

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Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Ripple has offered engineers bonuses worth millions of dollars in XRP to recruit them to the company, along with a competitive salary. An anonymous engineer showed CoinDesk a recruiting email from Ripple last year that promised a package worth up to $3 million in the company's cryptocurrency. Other recruits have stated they have received offers between $1 million and $6 million. The company is currently looking to hire more than a dozen engineers and technical experts, including a lead for its xCurrent project, which aims to rival legacy messaging network SWIFT. –COINDESK

Ripple offering millions in bonuses for recruits
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2. Twitter and Square CEO Jack Dorsey said the Lightning Network will come to the Square Cash App at some point in the future. "It's not an 'if,' it's more of a 'when,' and how do we make sure that we're getting the speed that we need and the efficiency," he said in a podcast interview. The Square Cash App had about 7 million monthly active users at the end of 2018. Dorsey recently took part in the Lightning Torch relay where crypto users publicly transferred a payment via the Lightning Network to highlight the technology's speed and efficiency. –STEPHEN LIVERA

Dorsey says Lightning Network coming to Square at some point
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3. IBM Research and SweetSense, a sensor technology provider, have partnered on a project aimed at using blockchain to reduce drought in California. The two firms will work with the non-profit organization The Freshwater Trust and the University of Colorado to use IoT sensors to transmit water extraction data to orbiting satellites, which will be simultaneously used to detect rainfall and water correlations. That data will be recorded onto the cloud and hosted on the IBM Blockchain Platform. With accurate tracking, the system will issue "groundwater shares" that can be purchased and traded by those in the region. Those that do not use all of their assigned water can exchange it to those that need more. –COIN TELEGRAPH

IBM using blockchain to fight drought in California
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4. Only 10 percent of decentralized applications have transactions on a given day, according to blockchain analysis and research firm LongHash. The company said that only 180 out of 1,812 conduct ERC20 transactions each day, while only about 13 percent of those had more than 100,000 transactions during a 24-hour period. As Bitcoinist points out, this is not exactly a new problem. Last July, it was reported that the two most popular DApps on ethereum were a pyramid scheme. It seems the only types of applications that have success are gaming or gambling apps, and even most of those struggle to gain a consistent user base. –INVEST IN BLOCKCHAIN

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5. Tron CEO Justin Sun dragged Ethereum co-founder Vitalik Buterin online after his Twitter following matched the size of Buterin's in less time with fewer tweets. –NEWS BTC

6. Bitcoin transaction fees have hit their lowest levels since 2014, according to a new report from Diar, a blockchain research firm. –COIN TELEGRAPH

7. The litecoin halvening is scheduled for August 2019. Here is a guide to the halvening, what it all means, and why crypto investors should know about it now. –BEING IN CRYPTO

8. A newly introduced bill in South Carolina would allow politicians in the state to accept cryptocurrencies for election campaign donations if passed. –THE STATE

9. General Motors Financial, the automaker's financing arm, will partner with blockchain startup Spring Labs (which has former presidential economic advisor Gary Cohnon its board of directors) on a blockchain-based identity verification system. –COINDESK

10. Over the past two months, traders that shorted bitcoin have begun to cash out more and more, leading some to believe that bitcoin has reached its bottom. –CCN

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies) and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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