Ethereum Upgrade Delayed Until January At The Earliest

CrowdConscious

Published in

The Cryptoverse

6 min readOct 22, 2018

Chris Coney’s ‘The Cryptoverse’ crypto podcast curation by CrowdConscious.

On Today’s Episode of The Cryptoverse…

Chris has hand-picked another 6 top crypto news stories for the day. Stories today include:

A game based tutorial on how to build eosio apps
Huobi’s weird but clever approach to stablecoins
NatWest bank adopts blockchain technology for the loans market
10,000 .NEO domains have been sold
ethereum’s next upgrade has been delayed until January at the earliest
AND Bitcoinfiles.com lets you store files on the Bitcoin Cash blockchain forever

Episode Transcript, Notes & Links

Block One have released an interactive tutorial which teaches you EOS programming by building a blockchain based game

https://battles.eos.io/

The value of any of these blockchain platform boils down to how much demand there is for them. That is determined by what is built on them, and whether people are using those apps.

The more apps that are built on any given platform, the more chance of one of them doing viral.

With that in mind Block One have created an 8 lesson tutorial which teaches you the basics of blockchain development as well as the specific skills you will need to create a functioning EOS application.

Provably fair games have every chance of being the first killer app for EOS so this announcement is a good one for any EOS token holders out there.

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If you would like to earn crypto rewards for watching Chris’ videos then visit TheCryptoverse.show and then click on the “Get Paid To Watch” button, then there’s a 2 minute video that explains how it works.

Continuing With The Show!

Huobi, currently the 3rd largest crypto exchange integrates stablecoins in a very innovative way

https://huobiglobal.zendesk.com/hc/en-us/articles/360000170601-Announcement-on-Launching-HUSD-solution-on-Huobi-Global

Instead of creating trading pairs for each of the 4 stablecoins, they are going to list everything against HUSD and then allow you to redeem HUSD for any one of the 4 stablecoins they support.

They are launching support for Paxos, True USD, Circle Dollar and Gemini Dollar.

So when you deposit any one of those coins they show up in your account as HUSD, then when you are done you can withdraw a different stablecoin if you want.

They provide this simple diagram that shows how this works.

This is rolling out gradually over the next 2 weeks including the launch of HUSD trading against Tether.

Stablecoins deposits should be live by the time you watch this video, and I can verify here https://www.huobi.com/coin_coin/exchange/#s=btc_usdt

That the HUSD has already started trading against Tether and has a 24 hour volume of over $4m.

Major UK bank, NatWest have announced their intention to leverage blockchain technology in the syndicated loan market

https://btcmanager.com/uk-bank-natwest-blockchain-technology-syndicated-loan-market/

In this case the problem they are solving with blockchain technology is the inability to share a database in a trustless way.

Yes you could put together a project with the intention of integrating all the private systems but getting all the parties to cooperate would be unlikely because they don’t trust each other.

By having a public blockchain, they all agree that is the central authority when it comes to the state of the loan network.

The reason I’ve opted to cover this story today is to help you draw a distinction between what is good news and what is good news that directly affects your crypto investments.

In this case the headline initially sounds good, but then you find out that NatWest are going to be using a platform called Fusion developed by R3.

So while this is going to help to bring more people round to the concept of blockchain technology, it does little or nothing for any of our crypto investments since NatWest are not building on any of the platforms that we own tokens in.

This is often the conclusion to stories like this that sound good but then end up having no impact on our investments.

I believe it’s important for you to know the difference so you don’t make decisions based on a misunderstanding, which is easily done.

10,000 .Neo domain names have been registered in the first month

https://www.cryptoglobe.com/latest/2018/10/neo-name-service-sees-users-register-over-10000-neo-domains-in-its-first-month/

The paradox for me here is that the whole point of having a decentralised domain name system, especially one powered by blockchain technology is censorship resistance.

But with NEO being in a country like China which has heavy controls on Internet usage, I’m not sure how that’s going to play out.

A company like InfoWars can spend millions on building a resilient network infrastructure but the weak point, in fact the easiest way to bring their website down is to bypass all that and simply disconnect their domain name at the central registrar.

So turning domain names into digital assets that only you have control over is another excellent application for blockchain technology, although how that works in China I don’t know.

The other benefit of blockchain based domain names is to ensure you are paying the right company when shopping online. If you are shopping on Amazon.neo then you could just send your payment to Amazon.neo and it would go to Amazon’s NEO wallet.

That prevents phishing attacks and so on.

This is ultimately NEO’s equivalent of the ENS which is the Ethereum Name Service. https://ens.domains which has been live for a while now.

Ethereum Devs Reach Consensus to Delay Constantinople Hard Fork Until January 2019

https://cointelegraph.com/news/ethereum-devs-reach-consensus-to-delay-constantinople-hard-fork-until-january-2019

This is an update to a story I’ve been following so you’re no doubt already aware of it.

I previously reported that there were some hiccups on when Constantinople was deployed to the testnet, in a move that could be described as ‘better safe than sorry’ Ethereum core developers have decided not to roll it out to the mainnet until January at the earliest.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

https://news.bitcoin.com/bitcoinfiles-com-developers-launch-censorship-resistant-file-storage-system/

So this is live now and you can store any file under 5kb for a Bitcoin Cash transaction fee plus $0.25. Technically it’s then stored forever, even though the economics of that don’t stack up.

I mean how can you accept a finite among of money to provide a service for an infinite amount of time, let me know in the comments below.

On the plus side this is now a place to go if you want complete censorship resistance. Say you are a whistleblower in some corrupt country, you can upload each page of a secret document one page at a time.

Once that’s done, it doesn’t matter what happens to you, there’s no removing that file. In fact it’d be very difficult to figure out who uploaded the file in the first place.

The obvious downside to this is that it’s completely open meaning someone can upload child porn, which has already happened on the Bitcoin blockchain, or someone could upload an instruction manually on how to make a bomb.

Those are very bad things however it did occur to me that if the centralised platforms were free from censorship there would be no market for this kind of service.

Another thing I’ll say is that blockchains are far from idea as file storage.

Blockchains are designed to be resilient databases. Resilient file storage is provided by different technology such as IPFS.

However if you wanted to timestamp a file, store it forever in a way that was completely immutable, a blockchain based service like this is tough to beat.

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