Bitcoin price collapses after holding above $11.500 and $12.000 USD. Ethereum 2.0 is able to withstand a 51% attack thanks to the Proof of Stake (PoS) protocol. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 After a bullish and very positive season for Bitcoin, the price of the cryptocurrency fell below $10.500 USD. According to experts, the downward trend may continue over the next few days, due to the possible recovery of the dollar.
Cryptocurrency markets expert, Alberto Cardenas, believes that the rise of the dollar started a negative liquidity cycle, therefore, assets such as cryptocurrencies will begin to fall. As of the date of this publication, the price of Bitcoin is around $10.300 USD per unit.
📍 Vitalik Buterin, co-founder of Ethereum y Ethereum 2.0, reported that a 51% attack on the ETH 2.0 network would not be fatal, since, in a network under the protocol of Proof of Stake (PoS), the attack would be quickly discovered and eliminated, so the attacker would only have one chance and little time to execute it.
Buterin's statements are a response to concerns Eric WallWho tweeted that due to the launch of YET, an attacker could accumulate enough ETH to launch such attacks on the new network.
📍 The EFF (Electronic Frontier Foundation), an organization founded to promote civil liberties on the Internet, issued a release where he expressed his opinion on the work carried out by some of the exchanges of the largest cryptocurrencies on the market. In this regard, the EFF indicates that it is concerned about the work that has been carried out Coinbase, indicating that this exchange lacks transparency in its processes and that it needs to publish reports periodically with accurate information on the management of funds. Likewise, the foundation applauded the work carried out by Kraken, claiming that this cryptocurrency exchange does set a true example of responsible behavior.
📍 Enthusiasts and fans of the yield farming in ecosystems DeFi They must be very cautious and very alert. Year Finance It is one of the most successful DeFi protocols currently in existence, and there is no shortage of those who want to take advantage of it. Currently, there are more than 6 DeFi projects that imitate to Yearn Finance, and among these imitations there are projects that are not as successful as the original, such as Asuka, whose developer Jongchan Jang disappeared with all the funds that users had deposited on the DeFi platform.
On the other hand, other DeFi projects such as YAM Finance y Sushi Swap, present critical errors in the implementation of the protocols. Regarding the latter, a research Signature Quantstamp reveals that the project presents 10 critical errors in the operation of the platform, which can put users' funds at risk. Given these circumstances, experts recommend being very cautious when using platforms with smart contracts unaudited, for all the risks they represent.
📍 In Kazakhstan, the government will implement a new measure for the miners of Bitcoin and other cryptocurrencies, , who now have to pay 15% of their earnings as taxes for carrying out the activity of mining is. within the country. During the announcement, the government explained that the taxes collected will be used to boost the development of the mining industry and blockchain technology within the country, as well as to overcome the ravages caused by the current economic crisis and the global pandemic.
📍 On the other hand, in Catalonia, the government identified 3 potential uses for technology blockchain thanks to the establishment of a Blockchain Observatory. Firstly, the implementation of blockchain technology, Internet of Things (IoT) and BigData through the platform AirSensus will allow for better control of the operating costs of airlines. Likewise, the application of technology in Freeverse will positively contribute to improving the management of digital assets within video games. Finally, blockchain technology will also help in the development of new decentralized digital governance and voting models through the voting system Vocdoni.
📍 During a virtual conference, the governor of Bank of England He stated that cryptocurrencies are not suitable for payment systems due to their volatility; instead he pointed out that stablecoins and currencies developed by central banks (CBDC) are the future of new digital financial systems.
Continue reading: Blockchain and CBDC: The approach of OMFIF and the Bank of England to the issuance of digital currencies
