News Nov 09, 2018

The most important news of the cryptoindustry


1. Leader in the number of blockchain developers. Guess who?

According to the Dappros report, the highest concentration of blockchain developers in the world are from the USA – 27,875 devs in total. The rankings that analyzed Ethereum, Solidity, Blockchain and Hyperledger shows, that despite the country’s regulations, the majority blockchain developers are from the  US. India ranks second – 12,709 devs in total.

Others in the rank that took the 3rd, 4th and 5th place are the UK, Canada and France respectively. Noteworthy, China wasn’t even on the top-10.


2. Volatile battle: Bitcoin vs NASDAQ


Bitcoin has stabilized at $6400 and acted significantly more stable than equities during Q3 of 2018. It’s worth noting that Bitcoin is considered one of the most volatile assets today.

Analysts stated that fiat markets are affected by manipulation, events such as trade wars and tariffs and political turmoil i.e. Brexit. For example, Amazon, Facebook and Google have recorded losses as well, with much greater volatility than BTC.

So, assuming this, today crypto markets show stability and this may attract investors fleeing equities, raising hopes of a repeat of the 2017 boost for BTC.


3. EY has announced Zero Proof Knowledge on Ethereum

Ernst & Young, one of the big 4 accounting companies, prepares the EY Ops Chain Public Edition launch. This technology aims to help bring private transactions to Ethereum.

Now the product is waiting for the patent, and it is expected that ZKP (zero knowledge proof) will be implemented on Ethereum. Using cryptography ZKP allows two parties to share a secret without it`s revealing.

The tech targets companies that want to trade tokens on Ethereum while restricting access to their transaction records.


4. The State of Cryptocurrency investment. Morgan Stanley reports.

According to the research provided by Morgan Stanley, the leading American investment bank – the number of institutional investors involved into the crypto market is growing while the number of retail investors is going down.

Investment bank’s research division analyzed Bitcoin’s trend in the last six months. The report says that Bitcoin is a ‘new investment class’. It also stated that there’s over $7.11 billion worth of crypto assets/currency controlled by hedge funds and private equity firms.


5. Fractional Reserve Cryptocurrency Bank by Mastercard

Mastercard is seeking a patent for fractional reserve management of blockchain assets.
The patent essentially describes a cryptocurrency credit card network and combination of cryptocurrency and fiat accounts provided by the web wallet. Mastercard seeks to do what it does best: process transactions. They see a benefit of mixing traditional and cryptocurrency technologies, and the system described above would probably include their existing products and payment networks.

Mastercard could potentially make a serious contribution to the Bitcoin economy by enabling millions of existing clients to accept cryptocurrency payments.


6. Bitcoin Usage Could Raise Global Temperature by 2 C

Climate change scientists warn about the effects of Bitcoin`s carbon footprint on global environment. According to their research the cumulative emissions of BTC usages would “cross the 2 C threshold within 22 years.” Also it is stated that in case Bitcoin follows a faster adoption path, it could cross that threshold in just ”11 years.” Along with this scientists note that while more efficient hardware could reduce BTC’s carbon footprint, one can’t relay on “yet-to-be-developed hardware.”

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