If you want to go fast, go alone. If you want to go far, go together. The latest collaboration in the blockchain sector shows that this proverb is as true as ever. The frustrating problem of “uses single blockchain technology” is a serious issue for the community, if you choose one blockchain platform you haven’t got any chance to work on another platform. It seems that now this problem will be solved. Poly Network, which has been launched by NEO, ONT, Cosmos, and NEAR, will allow developers to build dapps that run on multiple blockchains. This is a huge step for the business process and one again proves that blockchain is only at the beginning of its journey.
Read about this and other news in our summary of the main and current affairs in the cryptocurrency market this week:
- The Bitcoin Price broke $12K, but the breakout was short-lived as the BTC price fell to $11,650 in recent days, and by the end of this week its market price was $11,775.
- As Vitalik Buterin reported, the Ethereum 2.0 implementation process is much harder than he had expected. Despite technical difficulties, its price didn’t drop much and by the end of this week the Ether price was at $408.
- Blockchain will finally be able to interact with any other networks. Ontology (ONT), Neo (NEO), and Switcheo have collaborated to launch Poly Network, and the NEAR project has launched the Rainbow Bridge, connecting NEAR and Ethereum. Cross-chain interoperability allows for the free movement of data between blockchains and allows products to be run on several blockchains at the same time.
- Litecoins are still in the game. After the second attempt, the first Litecoin (LTC) native Visa debit card was finally launched. Users already can apply for a card, but service will start working only after a few weeks. Another crypto-related project, Fan token, also announced the rolling out of their Visa debit card. The credit cardholders could earn fan tokens and benefits from making purchases with the card.
- It seems that traditional exchange marketplaces will soon pass through upgrades. Indian crypto exchange WazirX said they will launch their own decentralized finance product AMM. We get to see how an automated market maker (AMM) protocol works, and the developers assure that it will replace order books used in traditional exchange marketplaces.
- Digital assets are a headache for the public sector. Since they can not control its spread, they try to research it, California’s Senate Banking and Financial Institutions committee has passed a bill related to digital assets and its impact to consumer protections and benefits to the state.
- What do you know about DeFi? Nothing?! That’s ok, more than 32% of users of the portfolio tracker Blockfolio are the same as you don’t know what DeFi is. 39% of respondents answered that they are curious and want to learn about DeFi. 10% said they have high-farming yields and 19% are new to DeFi but have tried it.
- A huge step for the Russian crypto space, a commercial bank in Russia distributed credit in cryptocurrency. Expobank used Waves (WAVES) tokens to issue an individual bank loan. The same Waves Blockchain, in partnership with internet provider Rostelecom, developed an e-voting system for September’s election in the country.
- Now you can earn on your flight delay. The Bulgarian crypto startup Colibra promises to compensate users in crypto if their flight delay is more than one hour.
- Travala.com is again in our crypto news digest. This time the crypto travel company added VeChain Token as a payment method.
- Chinese iron ore miners want to avoid the transaction dependence on the US dollar by using digital yuan. They plan to adopt a blockchain platform to sell the material directly to Chinese companies.
- Searching for a new job?! Investment banking giant Goldman Sachs is hiring a new vice president on the Digital Assets team within its Global Markets Division in London. The new VP will lead the development of current blockchain projects and cryptocurrency-related initiatives.
- Binance worked together with the Ukrainian cyber police to capture criminals who laundered $42M. This operation is a part of Binance’s “Bulletproof Exchangers” project, which aims to track down transactions between Binance and high-risk entities.
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