Project Weekly|The Bitcoin Taproot upgrade will take effect on November 16

Bitcoin

Korean media: The Korean Mutual Aid Association of Faculty and Staff, which manages more than 40 billion US dollars, will invest in Bitcoin ETF

On October 25, according to local media reports in South Korea, the Korean Mutual Aid Association of Faculty and Staff, which manages over 47 trillion won (approximately US$40.2 billion), is seeking to invest in a Bitcoin-related trading platform trading fund (ETF) plan. The first case of a domestic pension fund deciding to invest in cryptocurrency. It plans to first invest in spot ETFs linked to the price of Bitcoin. It is reported that if Korean domestic asset management companies produce bitcoin-related ETF products and list them overseas in the first half of next year, the faculty mutual aid association will buy them. The specific investment scale will be determined by the Investment Review Committee.

Twitter suspected of testing Bitcoin tipping service on Android devices

On October 25th, Twitter user Jane Manchun Wong tweeted that the social media giant Twitter seems to be testing the Bitcoin tipping function on Android devices. Wong shared a screenshot showing the beta version of the feature.

National Bureau of Economic Research: Bitcoin is still concentrated in the hands of a few people

According to a study by the National Bureau of Economic Research (NBER), about one-third of bitcoins in circulation are controlled by the top 10,000 individual investors. Since the inception of Bitcoin, cryptocurrency enthusiasts have been thinking about who is the biggest owner of Bitcoin. Determining the concentration of ownership can be very difficult, because many of the largest addresses usually do not represent individuals, but exchanges and other entities that hold bitcoins for investors. However, by using data collection methods that distinguish between intermediaries and personal addresses, NBER researchers found that the former controlled approximately 5.5 million bitcoins at the end of last year, and the latter controlled approximately 8.5 million bitcoins. In addition, the top 1,000 individual investors control about 3 million, and the concentration may be even higher.

Bitcoin Taproot upgrade will take effect on November 16

Golden Finance reports that the Bitcoin Taproot upgrade will take effect on November 16, aiming to increase the privacy protection of certain transactions on the network through an innovation called “Schnorr signature”. The upgrade will also allow for more lightweight “smart contracts”, which are essentially programs stored on the blockchain that run when certain conditions are met. Smart contracts have always been a key feature of the rival Ethereum network, which has driven the rapid growth of DeFi applications.

Dalio: Will choose gold instead of Bitcoin

Golden Finance reported that Ray Dalio, the founder of Bridgewater Fund, said today at an event organized by the Institute of Future Investment Initiatives, operated by Saudi Arabia’s largest sovereign wealth fund, that he chose gold instead of Bitcoin. On the other hand, Manchester City chairman Khaldoon Al Mubarak will choose Bitcoin instead of gold. BlackRock CEO Larry Fink and Goldman Sachs CEO David Solomon both stated that they prefer the U.S. dollar to Bitcoin.

The Brazilian online ride-hailing company 99’s digital wallet 99Pay will support the purchase and sale of Bitcoin on its platform

Golden Finance reported that 99Pay, the digital wallet of Brazil’s ride-hailing company 99, will support the purchase and sale of bitcoin on its platform. Starting from November 3rd, 99Pay users will be able to perform commission-free transactions with a minimum purchase amount of BRL 10 and a maximum purchase amount of R$10,000 (equivalent to US$1,800). 99Pay also said that the platform will also provide bitcoin cash back promotions. The initiative came at a time when Brazilians’ interest in cryptocurrencies is rapidly increasing and demand for crypto services. According to data released by the country’s Central Bank (BCB) in October, as of 2021, Brazilians have received US$4.27 billion so far. In terms of legislation, the Brazilian Congress plans to discuss a bill to regulate companies operating in the cryptocurrency field.

Twitter CFO: Bitcoin will be a good way to promote convenient business services on Twitter

On October 27th, the CFO of Twitter (TWTR.N) stated that Bitcoin will be a good way to promote convenient business services on Twitter.

The total number of Bitcoin ATM installations worldwide exceeds 30,000

According to the Golden Financial Report, data shows that the number of locations providing encrypted ATM services has increased exponentially this year. Since January, the number of Bitcoin ATMs has doubled, and nearly 80 countries now have ATMs that use fiat currencies to exchange cryptocurrencies. According to data collected by CoinATMRadar, as of now, the number of Bitcoin ATMs deployed globally has reached 30,036.

El Salvador buys 420 bitcoins again

Golden Finance reported that El Salvador’s President Nayib Bukele said on Wednesday that the government has purchased an additional 420 bitcoins, increasing the total number of bitcoins it has purchased so far to 1,120. At current prices, the value of newly purchased bitcoins is approximately $24.7 million.

Wall Street Journal: US SEC will not approve leveraged Bitcoin ETF

According to a report from The Wall Street Journal on October 27, according to people familiar with the matter, the US Securities and Exchange Commission (SEC) requires at least one asset management company not to continue to advance the leveraged Bitcoin exchange-traded fund (ETF) plan. According to people familiar with the matter, the SEC stated that it hopes to limit new bitcoin-related products to those that provide unleveraged exposure to bitcoin futures contracts, such as the ProShares bitcoin strategy ETF launched last week.

The Wharton School of the University of Pennsylvania accepts Bitcoin and Ethereum for tuition

On October 28th, the Wharton School of the University of Pennsylvania is launching a blockchain executive education program and accepting students to pay for fees in cryptocurrency. The Wharton School of Business will rely on Coinbase Commerce to process payments. Coinbase charges merchants a 1% fee to use the service, but the school has not passed the fee on to students. According to a Coinbase spokesperson, any on-chain wallet can be used for payment.

Report: In October this year, new and old investors have doubled their bets on Bitcoin

On October 28th, Kraken Intelligence stated in a new report called “Shocktober” that in October this year, an “End of Summer Sale” (End of Summer Sale) allowed the older and new generations of HODLers to double their bets. Paying attention to the Bitcoin investment portfolio triggered a supply shock that led to a bull market in the Bitcoin market with a double-digit percentage increase in its price. “Large entities and small players who protect cybersecurity through mining pools seem to be hoarding bitcoin,” Pete Humiston, manager of Kraken Intelligence, said in an email to Blockworks. “We see that Argo Blockchain and others are publicly listed. Of mining companies use Bitcoin as collateral to obtain new funds.

POMC, a luxury car dealer in Houston, USA, cooperates with NYDIG to support Bitcoin loan purchases

On October 29th, Post Oak Motor Cars (POMC), a luxury car dealer in Houston, USA, announced the establishment of a new partnership with financial services company NYDIG to integrate Bitcoin into its business operations and provide customers with a complete set of Bitcoin Services, including custody and lending. The cooperation will allow POMC customers to purchase luxury cars by collateralizing loans obtained from BTC, and enable employees to allocate part of their wages to Bitcoin. POMC also announced that it has sold its first luxury car Rolls Royce Ghost (Rolls Royce Ghost) that uses Bitcoin loans. Buyers use their BTC held in NYDIG to obtain car loan funds.

Chief Investment Officer of Moskovski Capital: 233699 Bitcoins have never moved in more than 10 years

On October 29th, Lex Moskovski, chief investment officer of Moskovski Capital, tweeted that when people lose their bitcoins, your bitcoins automatically become more valuable. According to Glassnode data, 233,699 Bitcoins have never moved in more than 10 years.

Bloomberg Strategist: SHIB is excellent in design, but investor risk aversion will further strengthen Bitcoin’s position

On October 29th, Bloomberg’s chief commodity strategist, Michael McGlone, tweeted that Shiba Inu is a “Dogecoin counterfeit product” and “there are some bright spots in the design and marketing of NGU technology”. However, he tends to believe that because SHIB is a speculative memetic currency, investor risk aversion is likely to dominate the cryptocurrency market, making Bitcoin stronger than it is now. McGlone also shared a chart. In the chart, the price curve of SHIB is basically consistent with the rising trajectory of Ethereum. He called Ethereum the “Shiba Inu facilitator”.

Microstrategy CEO Michael Saylor personally holds bitcoins currently worth $1.1 billion

Microstrategy CEO Michael Saylor recently retweeted his tweet a year ago and said that he did not sell any bitcoins he held. According to previous tweets, he personally holds 17,732 BTC, which he bought at an average price of 9882 USD. At the time, these bitcoins were worth 235 million U.S. dollars. At current prices, they were worth about 1.1 billion U.S. dollars, reflecting more than 500% of unrealized gains. According to reports yesterday, MicroStrategy stated that it increased its holdings by nearly 9,000 bitcoins in the third quarter, bringing its total to 114042. In addition, it will continue to evaluate opportunities to raise additional funds to execute its Bitcoin strategy. At current prices, the value of its bitcoin holdings is slightly more than $7 billion. According to its financial report, MicroStrategy’s third-quarter revenue was US$128 million and a net loss of US$36.136 million. As of September 30, 2021, MicroStrategy holds $57 million in cash and cash equivalents. The book value of MicroStrategy’s digital assets (including approximately 114042 bitcoins) is US$2.406 billion, which reflects a cumulative impairment loss of US$754.7 million since the acquisition. The average book value of each bitcoin is approximately US$21,100.

Coinbase listed SHIB in the APP profile, alongside Bitcoin and Ethereum

On October 30th, according to a picture posted by Twitter CEO Jack Dorsey, Coinbase has included SHIB in the APP profile, alongside Bitcoin and Ethereum. Jack Dorsey was very puzzled.

Ethereum

Across Protocol is about to launch the mainnet, which will enable the rapid transfer of assets from L2 to the Ethereum mainnet

On October 26th, the Ethereum cross-chain protocol Across Protocol will be launched on the mainnet on November 8, enabling assets to be transferred from L2 to the Ethereum mainnet more quickly and safely. Across has established a fund pool on the Ethereum mainnet. Cross-chain users will receive funds immediately after submitting a cross-chain request, and users who provide liquidity for the fund pool will be rewarded. The Optimistic Oracle of UMA, a decentralized financial contract agreement, will be rewarded. Used to ensure the speed and security of assets across the chain.

V God: Expansion is one of the biggest challenges facing the blockchain field. Layer 2 is the future of Ethereum expansion

On October 26th, the 7th Blockchain Global Summit hosted by Wanxiang Blockchain Lab was held in Shanghai. Ethereum founder Vitalik Buterin said in his keynote speech that Rollup can greatly improve scalability, at least 100 times so far. Data sharding is a relatively simple form of sharding. It is not to create a powerful shard that can handle transactions. On the contrary, we only create shards that can store and verify data. This is a simple sharding. form. Through such sharding, we can improve the scalability of Rollup, which can be increased by 100 times. For Ethereum, Rollup is the only feasible scalability solution.

GameStop is hiring an Ethereum expert

Golden Finance reported that according to the company’s recruitment information, GameStop is seeking to establish a Web3 branch based on Ethereum. The retailer stated that it is looking for someone with “experience in Ethereum, NFT and blockchain-based gaming platforms” to assume the role of its “Web3 game leader”.

The Ethereum browser Etherscan integrates with the smart contract platform Moonbeam to create Moonscan

According to official news, Moonbeam, a smart contract platform compatible with Ethereum on Polkadot, announced its integration with Etherscan, which is a block explorer and analysis platform for EVM-compatible chains. The integration brings the EVM-compatible block explorer Moonscan to Moonriver and Moonbeam. Users and developers can now access developer tools and network statistics, providing detailed insights into Moonriver and Moonbeam’s EVM.

Ethereum’s market value ranking rises to 15th in global assets, surpassing Alibaba

According to Golden Financial Report, AssetDash data shows that the market value of Ethereum has risen to the 15th place in global assets, currently about 498.8 billion U.S. dollars. The current market value has surpassed Alibaba, and the market value has risen by 5 places this month.

The Ethereum beacon chain has activated the Altair hard fork upgrade

On October 27th, the Ethereum beacon chain reached Epoch 74240, and the Altair hard fork upgrade has been activated. Altair is a relatively small update to the beacon chain of Ethereum. One of the important new features is the “Light Client Synchronization Committee”. The validators in this committee will be regularly incentivized to provide block header information to light clients.

Pop music producer Timbaland releases Ethereum music NFT that can be mixed

Golden Finance reports that pop music producer Timbaland is releasing NFT collections on Ethereum. The NFT will be launched on November 2 and will be built around the tracks in his upcoming EP called “OperaNoir”. Each song in the EP is divided into several separate elements, which will be auctioned separately as Ethereum NFT. Eventually, collectors with at least two NFTs will be able to access web-based mixing applications, and they will be able to insert song components to create custom mixes.

Divergence Protocol will first be deployed on the Ethereum expansion network Arbitrum to reduce user gas

On October 28th, the decentralized volatility hedging and trading platform Divergence Protocol announced that its V1 version will first be deployed on the Ethereum expansion network Arbitrum to solve the problem of excessive gas prices on the Ethereum main network. Divergence said that Arbitrum’s V1Beta2.0 version on the Rinkeby testnet will be shown to the community soon, and users can experience transactions on the second-tier network. In addition, DIVER tokens will continue to be used as ERC-20 standard tokens and will soon be bridged to the Arbitrum network, where DEXs will be circulated and traded.

Plutos Network Synthetic System V 1.0 has officially launched on the Ethereum mainnet

On October 29, the multi-chain synthetic asset trading protocol Plutos Network tweeted that Plutos Network Synthetic System V1.0 has been officially launched on the Ethereum mainnet. Users can now pledge, mint, and mine to earn income. V 2.0 will be released on November 10 and will provide more features and user rewards.

SlowMist MistTrack: Decentralized protocol BXH stolen more than 130 million U.S. dollars, and some funds have been cross-chained to Ethereum and BTC

On October 30th, the decentralized transaction protocol BXH was attacked on the BSC chain today. At present, the initial hacker’s profit address (BSC: 0x48c94305bddfd80c6f4076963866d968cac27d79) has transferred 4000 ETH from the BSC chain to the ETH chain, and then exchanged 300 BTCB Cross-chain to address for renBTC (1Jw…9oU and 1Fr…Vow). The BXH team stated that the assets on the Heco, OEC, and Ethereum are in a safe state, but due to security considerations, the official temporarily suspended the deposit and withdrawal services. SlowMist AML will continue to monitor the transfer of stolen funds, block all wallet addresses controlled by the attacker, and remind exchanges and wallets to strengthen address monitoring to prevent related malicious funds from flowing into the platform.

other projects

SushiSwap announced that Sushi has been deployed on Kusama Parachain Moonriver

On October 26th, SushiSwap announced that Sushi has been deployed on the Kusama Parachain Moonriver, SUSHI and MOVR will be used to incentivize Kusama’s liquidity in the upcoming liquidity mining plan. Sushi has received 25,000 MOVR tokens and 2.5 million future GLMR tokens for initial launch. These tokens will be used for liquidity mining and Moonriver and Moonbeam ecosystem grants. The following are the trading pairs that will initially be incentivized on Moonriver: WETH/WBTC, WETH/BNB, WETH/USDT, USDC /USDT, WETH/MOVR, USDC/FRAX, MOVR/MIM.

Ripple partner ACI Worldwide partners with RocketFuel Blockchain to support encrypted payments

On October 26th, Ripple partner ACI Worldwide has reached a partnership with RocketFuel Blockchain, which is a provider of payment solutions through Bitcoin and other cryptocurrencies. ACI Secure eCommerce will provide RocketFuel’s solution through a single integration, enabling merchants around the world to accept cryptocurrency payments without processing fees. RocketFuel’s payment solution provides support for Bitcoin and more than 50 other cryptocurrencies. In addition, the solution can also provide online and in-store bank transfer services for merchants and their customers through Android and iOS smart devices with QR codes or NFC functions.

The court approves Ripple’s motion to seal relevant documents in the lawsuit

On October 30, according to the latest development of the XRP lawsuit, the court approved Ripple’s motion to seal the exhibits submitted by the defendant on October 22, 2021 in response to the U.S. Securities and Exchange Commission (SEC)’s October 15 submission of the plaintiff 3. Application for non-public review of extra-quota documents. According to Ripple’s sealing request, the defendant has negotiated with the SEC, and the plaintiff understands that it has no objection to sealing up these materials. In addition, the defense noted that the two exhibits submitted under seal were designated as confidential by the SEC itself. However, the plaintiff did not take an absolute position on the revision or sealing of the above-mentioned documents. Ripple stated that these exhibits are part of the “discussions related to evidence discovery submitted to the court”, and the producer (the SEC) also considers these materials to be confidential. After that, the defendant argued that these documents were not judicial documents and had no right to presume public inspection.

NEAR launches a USD 800 million ecological development fund, which will focus on the DeFi field

Golden Finance reported that NEAR announced the launch of a USD 800 million ecological development donation plan, of which USD 250 million of the ecological fund will be allocated within 4 years; USD 100 million will be used for regional funds; USD 100 million will be dedicated to start-up companies. In addition, DeFi will be the focus of the plan. ProximityLabs has provided $350 million in special funds. The newly established DeFiDAO will manage these funds. The agreement will be able to apply for liquidity mining project funds through DeFiDAO. Proximity is a group of early NEAR contributors. They were separated from the parent company as an independent entity and received funding from the NEAR Foundation. NEAR co-founder Illia Polosukhin said that the plan has allocated 45 million US dollars this year, mainly focusing on the construction of the early ecosystem.

Co-founder of Near Protocol: Near plans to re-shard the mainnet in November and add Forex functionality to it

On October 27th, Near Protocol co-founder Illia Polosukhin said in a speech that Near plans to re-shard the mainnet in November and add Forex functions to it, which will increase network performance by 4 times. In January 2022, the state will be further fragmented. People can start processing transactions, and the way of processing transactions is different. The final stage of sharding is to have the final form of expansion support through dynamic re-sharding, and the time is about the end of 2022. In addition, in order to further increase the ease of use of Near, Near will launch the Opera browser. All Opera browser users can have the Near wallet and Near application for seamless interaction. Please continue to pay attention to our Near Opera browser.

SkyBridge Capital CEO: Algorand blockchain is a strong competitor to Ethereum

On October 27th, Antony Scaramucci, the founder and CEO of SkyBridge Capital Venture Fund, stated in an interview that Algorand (ALGO), as a competitor of Ethereum, has the ability to provide support for complex use cases in the real world, and mentioned “I currently have a Bitcoin fund, an Ethereum fund, and an ALGO fund soon. I think these are the three most important blockchains at the moment, and cryptocurrencies will win the future.”

Divergence Protocol will first be deployed on the Ethereum expansion network Arbitrum to reduce user gas

On October 28th, the decentralized volatility hedging and trading platform Divergence Protocol announced that its V1 version will first be deployed on the Ethereum expansion network Arbitrum to solve the problem of excessive gas prices on the Ethereum main network. Divergence said that Arbitrum’s V1Beta2.0 version on the Rinkeby testnet will be shown to the community soon, and users can experience transactions on the second-tier network. In addition, DIVER tokens will continue to be used as ERC-20 standard tokens and will soon be bridged to the Arbitrum network, where DEXs will be circulated and traded.

The court approves Ripple’s motion to seal relevant documents in the lawsuit

On October 30, according to the latest development of the XRP lawsuit, the court approved Ripple’s motion to seal the exhibits submitted by the defendant on October 22, 2021 in response to the U.S. Securities and Exchange Commission (SEC)’s October 15 submission of the plaintiff 3. Application for non-public review of extra-quota documents. According to Ripple’s sealing request, the defendant has negotiated with the SEC, and the plaintiff understands that it has no objection to sealing up these materials. In addition, the defense noted that the two exhibits submitted under seal were designated as confidential by the SEC itself. However, the plaintiff did not take an absolute position on the revision or sealing of the above-mentioned documents. Ripple stated that these exhibits are part of the “discussions related to evidence discovery submitted to the court”, and the producer (the SEC) also considers these materials to be confidential. After that, the defendant argued that these documents were not judicial documents and had no right to presume public inspection.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/project-weekly%ef%bd%9cthe-bitcoin-taproot-upgrade-will-take-effect-on-november-16/
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