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Crypto Weekly News — October, 30

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What important crypto events happened last week?


📌 Bitcoin: Here Is The First Purchase On Paypal

Jeremy Allaire, CEO of Circle, issuing USDC stablecoin, announced that he used the PayPal app to buy $100 worth of Bitcoin by posting a screenshot on his Twitter account. Even though at the moment PayPal acts only as an intermediary of the Paxos exchange, this can be considered as the first purchase of Bitcoin on the platform.

📌 Waves Announces ERC20 Interoperability With Ethereum Network

The ecosystem has released a native Waves token on the Ethereum blockchain. Now Waves holders will be able to use DeFi apps, exchanges, and DeFi protocols of the Ethereum network, whereas Ethereum users will have access to the Waves functionality.

📌 The EOS Smart Contract With Twice As Many Transactions As Ethereum

The optimized Gravy smart contract, based on the EOS blockchain, set an unbelievable record, generated twice as many transactions in one day as the Ethereum network for the time of its existence. One of the reasons may be the outflow of users from Ethereum to EOS, due to the turbulence caused by the lingering process of switching to the new Protocol.

📌 Monero Has Reached The Highest Price Of The Year

Privacy-oriented cryptocurrency Monero (XMR) continues to grow. On October 26, the price of the coin reached $138, which is the highest level since September 2018. It is likely that the increasing regulatory control has attracted additional attention to Monero and allowed it to further strengthen, although experts do not exclude the possibility of speculative growth.

Projects And Updates

📌 UnaWork Launches AI, Blockchain Platform For Remote Workers

New living conditions caused by relentless pandemic are forcing companies to look for ways to optimize and simplify the remote work process. This prompted UnaWork to launch a platform that uses artificial intelligence and intelligent navigation to make remote work more efficient.

📌 Ethereum Studio ConsenSys To Work With SocGen On Digital Euro Experiments

Ethereum’s ConsenSys has signed another agreement to participate in the development of a state cryptocurrency, this time for the European Union. ConsenSys will take part in testing the digital euro on the Forge blockchain platform, those of the French financial conglomerate Societe Generale. In the company’s press release it’s said that it will provide technical support to the project and share its extensive experience in working with digital assets with the financial institution.

📌 IOTA Supports Japanese Company Group To Gain Market Share

The IOTA Foundation is partnering with the Japanese government on a project focused on industrial infrastructure. According to the announcement, the initiative is aimed at implementing artificial intelligence and distributed ledger technology in risk-based maintenance systems at power plants and power-generating facilities, industrial and petrochemical plants, and oil refineries. This cooperation will allow IOTA to gain a significant share of the Japanese social infrastructure preservation market, which is currently valued at about $1.5 trillion.

Mass Adoption

📌 Blockchain Tracking Mangoes From Farm To Supermarket

The platform of the Smart Supply Chain Pilot Program conducted by Cooperative Research Center for Developing Northern Australia (CRCNA) and crypto experts Trust Provenance, mango producer Manbulloo, and industry group Growcom has been tested. Implementation of GS1 Australia standards promotes a unique product identifier on a centralized network that offers all partners in the supply chain to track products, saving time, costs, and the possibility of human error.

📌 Stellar Lumen And IMF To Work On These Goals To Foster Adoption

On October 19, the International Monetary Fund (IMF) “Cross-Border Payments — A New Beginning” event took place, and Denelle Dixon, CEO of the Stellar Development Foundation (SDF), summarized the needs for cross-border payments and identified the top 3 important points that must be followed to stimulate the development of international payments. These are a high technological level, the orientation of products for compatibility, and solving problems of real users.

📌 Huobi Exchange Enables Direct Card Payment For Visa And Mastercard

Now customers can buy Bitcoin, Ether, Ripple, Litecoin, and other cryptocurrencies without leaving the platform through the exchange interface. Previously, users were redirected to other web pages or a third party payment portal when using credit or debit cards from MasterCard and Visa. “By removing an extra step in the user journey, we’re creating a frictionless experience,” said Ciara Sun, Huobi Group vice president.


📌 Governance Issues For MakerDAO

BProtocol startup used a flash loan to manipulate elections on MakerDAO. According to the MakerDAO community forum, on October 26, BProtocol borrowed 13,000 MKR tokens worth about $7 million in the flash loan. Voting using MKR tokens provided for temporary use allowed BProtocol to speed up obtaining the desired election results for its MakerDAO-based project.

📌 Russia’s Central Bank Unveils Plan To Test Digital Currency

According to the head of the central bank of Russia Elvira Nabiullina, after discussing the consultation report, if the project launch is deemed feasible, they will prepare a full-fledged concept. Nabiullina noted that the central bank considers this project real and promising, but emphasizes the need to assess the benefits and risks first. In the central bank of Russia, they believe that it will possible to conduct a pilot launch of the digital ruble technology by the end of the next year.


📌 Crypto Scammers Hack Trump’s Campaign Website

Unknown attackers hacked the U.S. President’s campaign website, requesting visitors to make donations using Monero cryptocurrency. The hackers posted a message that they could allegedly get access to provocative “secret information” and called for voting with the help of crypto donations for its publication. The site administration has launched an investigation into the attack.

📌 Tether Froze $300k Of Stablecoin Hacked After Victims Left Wallet Keys In Evernote

The U.S. authorities have confiscated more than 300,000 USDT in the case of hacking a cryptocurrency wallet. Hackers gained access to it since a careless owner stored a private key in the unsecured Evernote app. This amount of USDT will remain held by the US government while the fraud case is pending.

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The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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