Blockchain and Cryptocurrency News Roundup

  • Post by:
  • August 24, 2020
  • Comments off

24 August 2020.

Dive into a short summary of some of the biggest headlines in Crypto this week. Gemini, Blockchange enable investment advisors to buy Bitcoin, developers propose plan to protect Ethereum Classic network from further attacks, it’s now cheaper to buy one Bitcoin than to buy a single DeFi token and TRON (TRX) launches DeFi platform JustSwap, 736.000 Chinese viewers watching.

Gemini, Blockchange enable investment advisors to buy Bitcoin

Blockchange Inc and Gemini Trust Co. LLC are providing a platform for registered investment advisors (RIAs)  to securely manage digital assets as part of their client portfolios. The solution will combine Blockchange’s BITRIA™ Digital Turnkey Asset Management Platform, alongside Gemini’s exchange and custody solution. This solution claims to offer superior tax benefits, as well as ownership of the underlying assets. This solution will also appeal to registered investment advisors who have a young client base, and are eager to enter the digital asset market. Quantum Capital Management, a $125 million dollar wealth management firm, will be using the solution to manage assets, as well as offer digital asset management services to investors. This enables the Blockchange-Gemini solution to expand its reach, enabling inexperienced firms to participate in the digital asset industry.


Developers propose plan to protect Ethereum Classic network from further attacks

Ethereum Classic (ETC) accelerator Ethereum Classic Labs announced a plan to protect the blockchain from further attacks.
On Aug. 19 the organization proposed taking immediate action in implementing long-term changes to the network architecture over the next three to six months. The accelerator decided to focus their efforts on improving the network’s security after recent attacks on the blockchain.
The immediate measures proposed by Ethereum Classic Labs include a “defensive mining” cooperation with mining pools and miners to maintain a consistent hashrate and gain the ability to increase it when needed. A higher hashrate would render a 51% attack against the network more expensive to perform. Ethereum Classic Labs also intends to deploy advanced network monitoring to identify anomalies affecting the Ethereum Classic blockchain and spikes in hash rate. Other short term measures include collaboration with crypto exchanges on whitelisting addresses and setting safe transaction confirmation times as well as deploying a finality arbitration system meant to inhibit chain reorganization.


It’s now cheaper to buy one Bitcoin than to buy a single DeFi token YFI’s governance token (YFI) has surged 35% in the past 24 hours and is currently trading at nearly $13,500, according to CoinGecko data. In comparison, after hitting a yearly-high earlier this week, bitcoin has now fallen back down to just under $11,800 – possibly in response to a strengthening dollar. Bitcoin’s exchange rate is also superseded by other obscure tokens, according to comprehensive pricing data from CoinGecko, but YFI represents the only token priced above BTC with any sort of notable 24-hour trading volume with roughly $107 million at last check. YFI only launched four weeks ago – initially trading at just $32; it surged $400 as CoinDesk went to press.


TRON (TRX) launches DeFi platform JustSwap, 763,000 Chinese watching

JustSwap, the decentralised exchange announced at the end of July this year as part of TRON’s strategy to expand its DeFi sector, was successfully launched yesterday. To celebrate the launch, Justin Sun, CEO of TRON, held a live stream that attracted 763,000 viewers on the Chinese periscope variant, Yizhibo. Furthermore, Sun’s YouTube channel posted a 1-minute video explaining JustSwap.
Sun has promoted JustSwap as “accessible to all” and an “alternative to UniSwap”, an Ethereum based decentralized exchange. JustSwap is TRON’s first decentralized exchange protocol that allows users to trade TRC-20 tokens instantly without commissions to the exchange.
The introduction of the decentralized exchange protocol is in line with TRON’s strategy to compete directly with Ethereum. In recent months, Ethereum’s DeFi sector has grown inexorably and has exceeded all expectations. At the time of publication, $6.37 billion were locked up in the various Ethereum DeFi protocols.


Join the Community

Learn more about Konfidio and how we’re accelerating the adoption of disruptive technologies to build a more decentralized future.