Ethereum Sharding and Anonymity under Attack: This week in Crypto

Advertisement

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month.

Make sure you check out last weeks post here, now let’s go over what happened in crypto this week. 

Price Watch:

Regulation:

  • Japan pressures exchanges to de-list “anonymous” cryptocurrenciesSources close to the FSA (Financial Services Agency), Japan’s regulatory agency, have reported this week that the FSA is “taking all available steps” to pressure domestic trading platforms to drop support for altcoins that promote anonymity. Some say the move was motivated by CoinCheck’s record-breaking hack which Japan hopes to prevent in the future.
  • Federal Reserve: Bitcoin is like”Regular Currency” – In a blog post published this week to the Federal Reserve Bank of St. Louis’ blog the Federal Reserve attempted to compare cryptocurrencies to regular currencies and prove they are more “boring” than people think.
  • Indian Law Protects Cryptocurrency Investors – The RBI (Reserve Bank of India) continues to face legal challenges this week over its ban on buying cryptocurrencies.
  • Iran bans TelegramIran’s judiciary banned Telegram on Monday accusing the popular messenger app of allowing armed opposition groups to fuel unrest. Domestic ISP’s have been forced to comply and will face prosecution for disobeying the order.

Startups:

  • Coinbase valued at $8 billion in the equity package presented as part of the exchanges acquisition of earn.com. This $8 billion marks a huge increase from it’s $1.6 billion valuations last August when the exchange concluded it’s Series D round. The change in valuation is likely due to it’s new, institutional investor facing, product line.
  • Comcast Ventures bullish on blockchain: The managing director of the fund, providing an analysis of the current market said the pullback was to figure out the “real applications” of blockchain technology and that investors are likely to see a huge surge in the short term. Despite their optimism, the exchange is still waiting for blockchain’s “killer app”.

Scaling:

  • Mastercard files scalable blockchain patent: Mastercard International has applied for a patent for fast-tracking data processing on blockchain systems to increase transaction volume. The move comes as a surprise to some considering Mastercard has referred to cryptocurrencies in the past as “anonymous crap”.
  • Ethereum announces shardingEthereum creator Vitalik Buterin has announced that Sharding, a much-awaited scaling solution for the Ethereum blockchain protocol, is coming. Sharding is said to be an important part of the 100-fold increase in scalability experts claim is needed to support large-scale decentralized applications.

Miscellaneous:

  • Buffet still hates cryptoWarren Buffet, speaking to Yahoo Finance from Berkshire Hathaway’s annual shareholder meeting again compared buying bitcoin to “gambling”. Buffet’s main issue with cryptocurrencies is they are not “value-producing assets”. Only time will tell who is right.

Featured image from Shutterstock.

Follow us on Telegram.

Advertisement