Cryptocurrency exchange Coinbase has announced that for the first time in its history it intends to sponsor two bitcoin developers. The firm has previously been criticized by the cryptocurrency community for not supporting developers whose programming work is helping to make the Bitcoin network more secure.
In recent months, this practice has become quite popular among well-known cryptocurrency companies. BitMEX, OKCoin, Square and even investment firm Paradigm have announced grants for Bitcoin developers.
Coinbase announced on its blog that it is looking for a developer who can contribute to the network's toolbox, improve testing methods, and create quality coding. Applicants can apply for grants.
"We believe helping to connect and grow the cryptocurrency economy is essential to creating an open financial system for the world."
In recent months, this practice has become quite popular among well-known cryptocurrency companies. BitMEX, OKCoin, Square and even investment firm Paradigm have announced grants for Bitcoin developers.
Coinbase announced on its blog that it is looking for a developer who can contribute to the network's toolbox, improve testing methods, and create quality coding. Applicants can apply for grants.
"We believe helping to connect and grow the cryptocurrency economy is essential to creating an open financial system for the world."
Binance Delisting British Pound-Based BGBP Stablecoin
Cryptocurrency exchange Binance is halting its BGBP stablecoin pegged to the British pound at a rate of 1 to 1.
As Binance reported today, BGBP / USDC will be delisted among other trading pairs on November 17. This is the last pair based on the BGBP. After delisting, users will be able to convert BGBP to British Pounds using their accounts.
A Binance spokesperson told The Block that BGBP was the exchange's "first experiment" in fiat-backed stablecoins and was "more of a proof of concept."
“It worked, but the issue / redemption processes were not the most user-friendly. So in order to provide users with a better service, we have stopped BGBP and will direct users to other available fiat channels offering GBP, ”the spokesman said.
The stablecoin BGBP was issued by Binance itself, while the exchange issues BUSD based on the dollar in partnership with the firm Paxos, which makes it easier to deposit / withdraw assets.
Cryptocurrency exchange Binance is halting its BGBP stablecoin pegged to the British pound at a rate of 1 to 1.
As Binance reported today, BGBP / USDC will be delisted among other trading pairs on November 17. This is the last pair based on the BGBP. After delisting, users will be able to convert BGBP to British Pounds using their accounts.
A Binance spokesperson told The Block that BGBP was the exchange's "first experiment" in fiat-backed stablecoins and was "more of a proof of concept."
“It worked, but the issue / redemption processes were not the most user-friendly. So in order to provide users with a better service, we have stopped BGBP and will direct users to other available fiat channels offering GBP, ”the spokesman said.
The stablecoin BGBP was issued by Binance itself, while the exchange issues BUSD based on the dollar in partnership with the firm Paxos, which makes it easier to deposit / withdraw assets.
Zcash Network Has First Halving and Canopy Update Activated
The privacy-focused cryptocurrency Zcash (ZEC) has made it to its first halving. It took place today, November 18, at block 1,046,400. The reward for finding miners has been reduced from 6.25 ZEC to 3.125 ZEC.
Halving happened in the fifth year of Zcash's existence. This fork of the bitcoin blockchain was launched on October 28, 2016. The emission of Zcash, like bitcoin, is limited to 21 million tokens. Along with the halving, the Canopy update was also launched on the Zcash network. It cancels the awards for the project founders and establishes the platform development fund.
Canopy is the fifth major update to Zcash that focuses on changes to the distribution of mining rewards. Prior to community approval of this update, funding for the platform development should have ended at the time of the first halving.
The privacy-focused cryptocurrency Zcash (ZEC) has made it to its first halving. It took place today, November 18, at block 1,046,400. The reward for finding miners has been reduced from 6.25 ZEC to 3.125 ZEC.
Halving happened in the fifth year of Zcash's existence. This fork of the bitcoin blockchain was launched on October 28, 2016. The emission of Zcash, like bitcoin, is limited to 21 million tokens. Along with the halving, the Canopy update was also launched on the Zcash network. It cancels the awards for the project founders and establishes the platform development fund.
Canopy is the fifth major update to Zcash that focuses on changes to the distribution of mining rewards. Prior to community approval of this update, funding for the platform development should have ended at the time of the first halving.
International crypto regulation standards may appear in 2021
By the end of 2021, the Organization for Economic Cooperation and Development (OECD) may approve cryptocurrency regulation standards. Pascal Saint-Amans, head of the Center for Tax Policy and Administration of the international organization, told about this to journalists.
He noted that the regulatory framework will be in many ways similar to legislation in the field of combating tax evasion.
According to the representative of the organization, now many countries are interested in the early implementation of crypto regulation. This desire is due to the rapid development of the digital asset market.
Amans' statement came a few days after the European Commission initiated amendments to the EU legislation on combating financial crimes.
On November 23, the commission announced that by December 21, it expects to receive expert comments on this initiative, aimed, first of all, also at strengthening control over crypto transactions. OECD intends to cooperate with the EU authorities in this direction, summed up Pascal Saint-Amans.
The United States is also seeking to legalize the crypto sphere. Back in July this year, the Commodity Futures Trading Commission (CFTC) announced its intention to introduce legislation regulating relations between holders of digital currencies by 2024.
By the end of 2021, the Organization for Economic Cooperation and Development (OECD) may approve cryptocurrency regulation standards. Pascal Saint-Amans, head of the Center for Tax Policy and Administration of the international organization, told about this to journalists.
He noted that the regulatory framework will be in many ways similar to legislation in the field of combating tax evasion.
According to the representative of the organization, now many countries are interested in the early implementation of crypto regulation. This desire is due to the rapid development of the digital asset market.
Amans' statement came a few days after the European Commission initiated amendments to the EU legislation on combating financial crimes.
On November 23, the commission announced that by December 21, it expects to receive expert comments on this initiative, aimed, first of all, also at strengthening control over crypto transactions. OECD intends to cooperate with the EU authorities in this direction, summed up Pascal Saint-Amans.
The United States is also seeking to legalize the crypto sphere. Back in July this year, the Commodity Futures Trading Commission (CFTC) announced its intention to introduce legislation regulating relations between holders of digital currencies by 2024.
November 2020 became the third month in the history of cryptocurrencies in terms of trading volumes on exchanges. The result is the equivalent of about $ 270 billion, with a day remaining until the end of the month.
The record was recorded in January 2018 at $ 308 billion, according to Larry Cermak of The Block. So this December can be very interesting.
The record was recorded in January 2018 at $ 308 billion, according to Larry Cermak of The Block. So this December can be very interesting.