Newsletter May 2019
May was a good month for team Validators. Our Tezos baker has been running for 60 days with 100% efficiency and we have paid out rewards of ~75 XTZ to our first 6 delegators and more have joined. You can see our baker stats at TzScan. They are receiving an interest rate of approx. 6.5% annually with payouts every 3 days. We are also continuing our preparation for staking DOT tokens on Polkadot. Check our blog for more stories on our core business: Staking as a Service.
Meanwhile, in the world of cryptocurrencies and staking:
Crypto news
Facebook is developing its own cryptocurrency
One of the most talked about and at the same time secretive blockchain projects is the Facebook asset-backed cryptocurrency, first announced in 2018. The crypto-asset which is rumoured to be a stablecoin and is being developed under the so called Project Libra is expected to be used within WhatsApp, Instagram and Facebook Messenger. In May, the news came that Facebook is in talks with Visa and Mastercard, as long as with the financial services firm First Data Corp. in order to raise about $1 billion in total as collateral for the stablecoin. Further reports indicate that Facebook cryptocurrency is expected to roll out in 2020 and the company is in discussions with crypto exchanges such as Coinbase and Gemini.
Starbucks, Nordstrom and Whole Foods adopting cryptocurrencies
Facebook is not the only giant dipping into blockchain and cryptocurrencies. Forbes reports that more and more companies, including Barnes & Noble, Nordstrom, and Whole Foods are already accepting crypto payments. Starbucks, whose history with cryptocurrencies goes back to 2018, is planning a partnership with Bakkt which will make it possible to for its customers to pay with bitcoins for their frappuccinos. These developments of mainstream adoption of cryptocurrencies are only the beginning.
Tezos
In our previous newsletter, we wrote about the first Tezos on-chain vote. The stakeholders voted on the so called Athens proposals.The Athens A option which was supported by the majority includes reducing the roll size from 10 000 XTZ to 8 000 XTZ. This measure is expected to decrease the barriers to becoming a baker. Following the rounds of on-chain votes and final testing, the Tezos blockchain has announced that Athens amendment was activated on May 30.
Ethereum 2.0
Ethereum Proof-of-Stake is on the way
Coindesk reports that the final code for Ethereum’s Proof-of-Stake (PoS) version is to be finalised already next month, with the first phase of transition to be finished by June 30. Meanwhile, Ethereum 2.0 PoS testnet went live on May 7. In the testnet, validators can try staking and make contributions to the code.
Ethereum in different industry applications
At the same time, Ethereum ecosystem is spreading to different industries. In May, the reports came that the world’s fifth-largest electrical company EDF is teaming up with the ethereum-based decentralised app iExec to execute visual simulations in the framework of decentralised computing. In the world of real estate, Fluidity startup is promising to “tokenise the house”: already this summer the project powered by ethereum is expected to provide cheaper mortgages based on smart contracts, which will benefit low-income and underbanked population. Coindesk also reports that the tech giant Microsoft has released a suite of tools allowing clients to build ethereum-based apps on its cloud computing platform Azure.The ethereum development kit comes as an extension to Microsoft’s source-code editor Visual Studio Code, allowing developers to create and deploy ethereum smart contracts and utilize open-source blockchain tools.
Polkadot
In the anticipation of the launch of Polkadot by the end of this year, we are excited to follow the updates on the expected consensus mechanism and blockchain governance. In May, Polkadot revealed the changes introduced in its Alexander testnet earlier. According to the company’s blog post, Proof of Concept 4 has arrived with some important updates in the blockchain consensus mechanism — Nominated Proof-of-Stake. The updates include enhanced validator key management, new offline validator preferences and “off the table” rewards, making it easier for validators to securely validate on the network and incentivize participants in the network to nominate them.
Regulation news
The regulators’ interest in crypto finance continues to show in different countries. In May, the Liechtenstein Government introduced new regulations on blockchain and tokens. The new Token and VT Service Providers Act, passed on May 7, aims to improve investor protection, combat money laundering and establish clarity. The regulation also defines tokenised securities and how digital token systems can be used to tokenise real-world assets. On the other side of the world, South Korean Government has announced the second study group for Blockchain Regulations which is a part of the initiative run by the government’s science and tech body. The goal of the project is to figure out how regulations could be improved so that blockchain tech could achieve widespread institutional adoption.
Disclaimer
This content has been produced by Validators IVS for general information purposes only. While care has been taken in gathering the data and preparing the content, Validators IVS does not make any representations or warranties as to its accuracy or completeness and expressly excludes to the maximum extent permitted by law all those that might otherwise be implied. Validators IVS accepts no responsibility or liability for any loss or damage of any nature occasioned to any person as a result of acting or refraining from acting as a result of, or in reliance on, any statement, fact, figure or expression of opinion or belief contained in this content. This content does not constitute advice of any kind.
