Friday, March 1, 2019

3 to 2 ⛏

March 1, 2019

Ethereum Has Officially Implemented Two Long-Awaited Upgrades

Midday on Thursday, Ethereum officially enabled two new upgrades on its network that would bring a handful of new features.

At block 7,280,000, St. Petersberg and Constantinople went live in a smooth transition.

CEO of MyCrypto Taylor Monahan explained to CoinDesk the reason for such an easy implementation:

"With the blockchain, everyone has to upgrade in order for everyone to be able to use [the new] features. About two weeks before the fork, everyone upgrades the software but none of the new features are enabled. Then, on that block number, everyone at the exact same time starts using the new features. So, that's how we prevent differing states from existing simultaneously."

Mining woes

After the release, four new Ethereum improvement proposals (EIP) have been activated - including a reduce in mining rewards from 3 to 2 Ether per block.

That means less money for miners - a concept that could decrease mining competition and temporarily centralize the hashrate of Ethereum.

However, developers found the change necessary to move forward with its vision of Web 3.0.

So what's next?

While Constantinople and St. Petersberg helped move the needle, the Ethereum roadmap is far from over.

In 2019, developers are mostly focused on three things:

Proof-of-stake (PoS)
Sharding
eWASM

Basically, the combined result of these three concepts will help Ethereum reach "massive on-chain transaction throughput, while balancing decentralisation and security," according to the project's published roadmap.

EXCHANGE

Kraken Offers $100,000 Reward to Find Missing QuadrigaCX Funds

Last month, QuadrigaCX became a household crypto name after it allegedly lost access to nearly $200 million worth of cryptocurrencies stored for over 115,000 customers.

Now, crypto exchange Kraken is stepping up to help move the situation by offering $100,000 to anyone who can help find the missing coins.

Aside from the generous reward, Kraken simply wants to use its power to bring awareness to the problem.

A published statement reads:

"Kraken wants to bring awareness and attention to this case, in hopes that we can help discover some or all of the missing client funds."

Part of the transformation

Kraken's cash (or crypto) offer is the result of a tremendous war chest and new brand face.

In the last few months, Kraken has raised over $100 million as it prepares to undergo a massive transformation to help the company compete on a worldwide scale.

Already the exchange has revamped its web design for a more inclusive feel. As for the QuadrigaCX stunt, the $100,000 reward will certainly help bring positive attention and awareness to the exchange that is in the midst of a competitive homeland battle with market leader Coinbase.

REPORT

"Facebook Coin" is Allegedly Being Shopped to Crypto Exchanges

According to the New York Times, Facebook is preparing to release a cryptocurrency that will "succeed where Bitcoin failed."

While it has yet to be confirmed, the New York Times pieced together multiple anonymous sources who believe the social media giant is going to integrate Messenger, WhatsApp, and Instagram to onboard a cryptocurrency - a route that would expose the new tech to over 2.7 billion users.

What are the details?

Though the project is being developed behind curtains, five sources close to the matter have suggested that the cryptocurrency will be a fiat-pegged stablecoin - but tied to the value of three national currencies rather than just one.

Those sources also revealed that Facebook now employs over 50 engineers on the team to help build the vision.

For now, the details are scattered and flimsy, but one thing is clear: Facebook is undoubtedly looking to adopt blockchain.

BITS

But wait, there's more...

🗂 Big four auditor PwC is trialing a blockchain system for verifying employee credentials.
🚨 A Swiss crypto bank has warned customers about a fake "partner" attempting to steal funds.
👨‍⚖️ Mark Karpeles failed to halt his Mt. Gox U.S. court case after a judge denies his motion.

MEME