Jun 19, 2020 at 10:50 // News

As the world becomes increasingly digital, more and more people turn their attention to cryptocurrencies. In fear of fiat money being replaced, governments and central banks are looking to create their own digital currency. However, as their plans will be implemented, the world might face a full-scale financial war between centralized and decentralized technologies.

While it is obvious fiat money loses its power slowly but steadily, central banks do not want to lose their supremacy at all. And it is not even about a hegemony of some certain currency, it is about control over financial markets. For if people will massively turn to decentralized cryptocurrency, banks might very well lose it.

For this reason, traditional financial institutions are cautious about bitcoin as well as other cryptocurrency. However, wishing to keep pace with the progress, even the most conservative of them must admit that digital currency has a good potential.

One benefit digital currencies have over paper money is that they reduce unnecessary paper money printing and handling costs. Think about what the $800 million the US Federal Reserve spent on printing and handling its dollar notes in 2018 could have done to the global economy. That money is 25 times bigger than the GDP of Tuvalu, which apparently stands at about $32 million.

Besides saving money for governments, digital currency can provide significant benefits for users as well. First of all, it is much more convenient that fiat money. With the abilities of modern technologies, people can make payments using their smartphones. No more wallets full of banknotes and coins, no more issues with seeking change all over your pockets.

Besides, digital currency is safer. Even if your data has been stolen, you can block access to your digital money within seconds before burglars are able to use it. If someone steals your wallet with physical money, you will not be able to get them back.

As governments and banks delve into the idea of virtual money, some of them are looking to develop Central Bank Digital Currencies (CBDCs), which work in similar ways as the fiat currencies except that they are in a digital form and issued through electronic wallets for faster distribution.

China, Denmark, South Korea and other countries are either researching or piloting the use of CBDCs. Coin Idol, a popular crypto and blockchain news channel on June 11 reported that the emergence of CBDCs could even replace traditional account opening and other bank services such as loans.

Back in 1944, world leaders gathered at Bretton Woods to install a supreme reserve currency and a central monetary system, which seemed to be reliable and stable until now. Even the appearance of cryptocurrency as an alternative in 2009 didnt pose a threat, as ordinary people were cautious about this new and unknown technology.

However, the COVID-19 pandemic and lockdown revealed the potential of digital money and made people explore this innovation after 20 years since its inception. Thus, all they have agreed upon at Bretton Woods should be changed according to the reality.

Perhaps, the world leaders should gather again to discuss and establish the new financial system based on CBDC. However, society seems to be years away from that as only China and South Korea actually proceed with its launch. The real change might start after the first CBDC will see the world.

Despite some speculation that CBDCs will completely replace cryptocurrencies, it is unlikely to be true. As no central bank is planning on launching a decentralized version of their digital currency, there will still be people preferring a less controlled alternative. And this will probably force central banks to become really hostile to cryptocurrency.

Even now, many countries have a high unfriendly position on cryptocurrencies. For instance, The Reserve Bank of India has been trying to ban the use of cryptocurrency, Russian Central Bank also showed willingness to support the crypto ban. Even the world's biggest economies China and the USA have a contradictory stance on digital assets pointing out the necessity to regulate the industry.

So if CBDCs are successfully launched and widely adopted, the pressure on cryptocurrency might increase further, as central banks would probably want to eliminate their competitor. This might result in stricter regulations imposed on cryptos in more democratic countries and official bans in less democratic ones. In fact, this can turn into a real clash between centralized and decentralized digital currencies. Which one of them has more chances to win?

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There Might be a War Between Cryptocurrency and CBDC if the Latter is Widely Adopted - Coin Idol

Launched soon after the 2008 financial crisis, the first ever cryptocurrency that took the world by storm was the bitcoin. Since then, over 3,000 cryptocurrencies have been mined and traded with a market capitalization of over $221 billion as per a report by Yahoo Finance. Fundamentally speaking, cryptocurrency is a digital or virtual currency designed to serve as a medium of exchange, which is aimed at decentralization and transparent financial transactions.

The ongoing COVID-19 crisis resulting in plummeting investment values in terms of equity, bonds and commodities have led to investors looking for assets that could withstand the slowdown triggered by lockdown and give them a run for their monies. While some hinge on the safety of government bonds, others are buying gold. Some investors in India have found Bitcoin attractive as a means to hedge the risks, diversify their portfolio and perhaps make a profit. Further, market experts believe that cryptocurrencies could remain untouched by the slowdown started by COVID-19 and may outperform other asset classes. One of the reasons is the non-correlated nature of cryptocurrency, which indicates that it is not directly impacted by the economic, geopolitical and pandemic like situations due to its decentralized nature.

Cryptocurrency Legislation in India

The Reserve Bank of India (RBI) took an over-protectionist stance and imposed a total ban in April 2018, which restrained cryptocurrency based activity in India in its entirety. This year, however, the Supreme Court quashed the RBIs ban on cryptocurrency transactions. Further, the court opined that in the absence of any legislative prohibition, the business of dealing in virtual currencies should be treated as a legitimate trade protected under Article 19(1)(g) of the Constitution, which affords a fundamental right to carry on any occupation, trade or business. However, as is often misconstrued by laymen, the Supreme Courts ruling should not be construed as one legalizing the trade of cryptocurrencies in India, as many laymen as have understood, rather the RBIs ban was smacked down due to its failure to pass the test of proportionality.

However, since the judgment, cryptocurrency-based activity on exchanges immediately shot up. In fact, Cashaa India, a crypto banking services platform, observed an increase of 800% in trading volumes in 2 days following the decision. Investment bankers at Goldman Sachs claim cryptocurrency as modern digital gold. Both gold and bitcoins are designed to be rare and difficult to acquire but the latters historical volatility makes it a risky investment option for many trader joes.

What other countries are doing?

At the outset, it is important to initiate a dialogue with Indian legislators and regulatory bodies and work towards creating a crypto-regulatory framework in India. In the recent past, the Greeks and Venezuelans were flocked to cryptocurrencies to protect their investment value from hyperinflation. Moreover, cryptocurrencies were recently legalized in South Korea and Japan., and many countries like Australia have a positive viewpoint. Moreso, countries like the UAE, Sweden, Ecuador also introduced state-backed cryptocurrencies to help them evade sanctions, ease accounting and reduce the cost for the nations.

Therefore, experts believe that taking a similar trajectory is likely to benefit India with a rise in blockchain-focused startups, more employment opportunities, and added avenues for tax collection. Having said that, price predictions have failed miserably and as much as it appears to be the ideal disaster asset, there isnt sufficient empirical evidence to reach a definite conclusion. The saying, "What goes up, must come down" as is applicable to stocks, bonds and commodities also applies to cryptocurrencies at large and regulation of this asset class will keep a check on underground trading in this regard.

In the current governments pursuit of a cashless economy backed by the Supreme Courts judgment setting aside RBIs ban on cryptocurrency trading implicitly supports innovation and is a major step in the right direction. Having said that, the industry is in its nascent stages and is wise for RBI to wait and watch how the crypto market handles its first financial crisis before incentivizing or disincentivizing cryptocurrency based activities, which could potentially impact financial advancement of the nation. Thus, meticulous implementation and regulation of the crypto market may be a boon to the India economy, but any oversight could have disastrous consequences on the economy starved for revenues in times of crisis.

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Cryptocurrency Regulations in times of COVID-19: A boon or bane to India? - Lexology

Many people are familiar with blockchain technology, but did you know that Ethereum has the largest and most active blockchain community in the world?

Unlike many other blockchain networks, Ethereum is programmable. This customizable feature has enabled developers to solve problems ranging from digital identification and privacy, to corporate ownership and data security.

When the blockchain community disagrees on what changes the network needs to function smoothly or when such changes should take place, developers plan for a fork (an offshoot) of the underlying code rules.

Todays graphic maps out the major Ethereum blockchain forks that have occurred to date, highlighting key events that surrounded each of these updates. It also includes details on the highly anticipated Istanbul hard fork, planned for December 2019.

Forks are common practice in the software industry, and happen for one of two reasons: split opinions within the community, and required changes to the blockchain code.

When either reason is discussed, four major types of forks can occur.

There are currently three types of hard forks:

Lets dive into the timeline of major Ethereum forks, and explore a few of their defining moments and characteristics.

Below are some of the most prominent and important forksboth hard and softon the Ethereum blockchain since its launch.

Vitalik Buterin, founder of Ethereum, and his team finished the 9th and final proof of concept known as Olympic in May 2015. The Ethereum blockchain, also known as Frontier, went live shortly after, on July 30, 2015.

Also known as Frontier Thawing, this was the first (unplanned) fork of the Ethereum blockchain, providing security and speed updates to the network.

Homestead is widely considered Phase 2 of Ethereums development evolution. This rollout included three critical updates to Ethereum: the removal of centralization on the network, enabling users to hold and transact with ETH, and to write and deploy smart contracts.

The Decentralized Autonomous Organization (DAO) event was the most contentious event in Ethereums short history. The DAO team raised US$150 million through a 2016 token salebut an unknown hacker stole US$50 million in ether (ETH), prompting the developer community to hard fork in order to recover the stolen funds.

Widely regarded as the only Ethereum fork of any significance, this hard fork was based on the controversial DAO event. The original chain became known as Ethereum Classic, and the new chain moved forward as the main Ethereum chain.

This September 2019 hard fork event required all software users to upgrade their clients in order to stay with the current network. Enhancements included better security, stability, and network performance for higher volumes of traffic.

Regarded as the third phase of Ethereums evolution, the Metropolis-Byzantium soft fork functioned more like an operating system upgrade, rather than a full split.

Constantinople is the current version of the Ethereum blockchain. This hard fork occurred concurrently with the St. Petersburg update. Important changes included closing a major security loophole that could have allowed hackers to easily access users funds.

Constantinoples most notable improvements include smart contracts being able to verify each other using only the unique string of computer code of another smart contract, and reduced gas feesnamely, the price users pay to process transactions more quickly.

The Ethereum community is preparing for the next hard fork event Istanbul, scheduled for release on December 4th, 2019.

Ethereums 4th and projected final stage of development is Serenity, which has yet to be scheduled. Community members have speculated what changes will come with Serenity, but many agree that the Ethereum blockchain will shift focus from Proof of Work to Proof of Stake.

Proof of Stake means that there is less competition for completing blocks of data, significantly reducing the energy required to process data. Currently, a single Bitcoin transaction consumes the same electricity as 1.75 American households do in a day.

Ethereum continues to be a leading blockchain platform, with the highest number of decentralized apps (dApps) and a massive, engaged community.

To date, cryptocurrencies have largely been the focus of news headlines. However, weve only begun to scratch the surface of what blockchain can offer, and the value it will create beyond the financial world.

[Blockchain] could be the foundation of a whole new era whereby our basic right to privacy is protected, because identity is the foundation of freedom and it needs to be managed responsibly.

Don Tapscott, Executive Chairman of the Blockchain Research Institute

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Cryptocurrency: Redefining the Future of Finance - Visual Capitalist

Fifteen people entered guilty pleas for involvement in an international scam that posted fraudulent auctions online and laundered money through cryptocurrency exchanges, according to the Justice Department.

One expert says the case could serve as a template for nation-state actors using cryptocurrency exchanges to cover their tracks more in the future.

Todays modern cybercriminals rely on increasingly sophisticated techniques to defraud victims, often masquerading as legitimate businesses, said Assistant Attorney General Brian A. Benczkowski of the Justice Departments Criminal Division in a press release Thursday. These guilty pleas demonstrate that the United States will hold accountable foreign and domestic criminal enterprises and their enablers, including crooked bitcoin exchanges that swindle the American public.

Law enforcement officials have noted that increased use of cryptocurrencies like Bitcoin has made it especially challenging to nail down cybercriminals. But while cryptocurrency exchanges encode transactions hiding the identity of the parties, those codes are permanently and publicly recorded across a large number of computers. Its possible to study them and identify patterns in transactions that could eventually lead to the identity of a suspect, and law enforcement might be getting better at this.

Compared to 2016, in 2019 and 2020, were seeing more cases where its clear that law enforcement is following this stuff and is not totally dumbfounded because something involves a Bitcoin address, Yaya Fanusie, a former CIA analyst and current senior fellow at the Center for New American Security told Nextgov. It gives us the assurance that at least U.S. federal law enforcement is capable of doing an investigation that involves cryptocurrency.

In the case Justice highlighted Thursday, the defendantsindividuals in their 30s based both in Romania and the United Statesadmitted their involvement in a scheme where they established their own cryptocurrency exchange and used it as a passthrough for traditional payments they got from advertising non-existent high-value items such as cars on auction sites such as eBay and Craigslist.

According to court documents, members of the conspiracy created fictitious online accounts to post these advertisements and communicate with victims, often using the stolen identities of Americans to do so, the press release noted.

The defendants also used IP addresses anonymizing services, according to court documents. Fanusie said cryptocurrency exchanges are part of an ecosystem primed for cyber malfeasance.

Cyber services like domain names, [virtual private networks], servers, that infrastructure is ready-made to be leveraged through cryptocurrencies, he said. Its already an environment that invites anonymous use. Cryptocurrencies are the native money of the internet. So if we know that were going to have more cyber threats, it makes sense that cryptocurrencies are going to play a part.

So its good that law enforcement doesnt seem daunted by the changing landscape of criminal activity, he says, because this time [a cryptocurrency exchange] was being used by criminal fraudsters, but there are definitely parallels in what weve already seen from nation-state actors.

Fanusie has written about how cryptocurrency exchanges were used to launder and steal money and delay law enforcements identification of suspected hackers in high-profile cases involving persons affiliated with China and North Korea and Russia.

He said the 2018 indictment leading up to Thursdays guilty pleas is almost a blueprint for how nation-state actors could be thinking about running their operations, adding that the case confirms that the main thing to look out for is not so much fundraising, the biggest thing is that cryptocurrency is one part of a laundering process. Its to move the money to somewhere else so you lose the trace.

For now, law enforcement officials seem empowered by their success after an investigation that involved the U.S. Secret Service, Kentucky State Police, Lexington Police Department, IRS Criminal Investigation, and U.S. Postal Inspection Service, the Justice Departments Organized Crime Drug Enforcement Task Forces and International Organized Crime Intelligence and Operations Center, as well as the Romanian National Police Service for Combating Cybercrime and the Romanian Directorate for Investigating Organized Crime and Terrorism.

Through the use of digital currencies and trans-border organizational strategies, this criminal syndicate believed they were beyond the reach of law enforcement, said Assistant Director Michael DAmbrosio, U.S. Secret Service, Office of Investigations. However, as this successful investigation clearly illustrates, with sustained, international cooperation, we can effectively hold cybercriminals accountable for their actions, no matter where they reside. I commend the hard work and perseverance of all those who joined together in this investigation and prosecution. This includes our partners in Europe, as well as those closer to home.

It was also helpful that Romanian officials secured and coordinated the arrests and extraditions from that country of more than a dozen defendants, the release said.

The 15 defendants who have pleaded guilty in this case have yet to be sentenced, the release notes. Two other defendants in the case are scheduled for trial starting on Sept. 14, 2020, before the Honorable Robert E. Wier of the U.S. District Court for the Eastern District of Kentucky. Three others are fugitives. This case is being prosecuted by Senior Trial Attorney Timothy C. Flowers and Senior Counsel Frank H. Lin of the Criminal Divisions Computer Crime and Intellectual Property Section and Assistant U.S. Attorneys Kathryn M. Anderson and Kenneth R. Taylor of the U.S. Attorneys Office for the Eastern District of Kentucky.

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Justice Gets 15 Guilty Pleas for International Crime Ring that Laundered Money Through Cryptocurrency Exchanges - Nextgov

An anonymous user paid approximately $2.6 million in transaction fee to transact small amounts of money in the Ethereum (ETH) cryptocurrency two times over the last 24 hours at press time.

The first transaction of 0.55 ETH, or $136.26, according to ETH's price at press time, was made at 5:47 am on Wednesday, according to data from Etherscan.

To make this transaction, the user paid 10,668.73 ETH, or $2.6 million, in "gas," as the transaction fee at the Ethereum network is called. A similar transaction was repeated at 11:30 PM later in the day. This time 350 ETH, or $86,712.5, were transferred for the exact same fees.

Gas is charged by miners on the Ethereum blockchain network based on the amount of computing it takes to verify a transaction. If the users agree to pay a higher gas price, the transaction becomes more lucrative to minersand is completed rapidly.

ETH Gas Station recommends paying $0.155 for a standard transaction that can take up to five minutes and $0.2 for a fast transaction that will be expected to complete in less than two minutes.

Paying $2.6 million for a transaction is extremely unusual and doesn't make operational sense, giving rise to speculation of accidental error, money laundering, or a technical glitch.

Some cryptocurrency community members on Twitter suggested that the transaction was more likely to be a technical error since the ETH transaction fee in both cases was exactly the same, which would be extremely unlikely to be an accident.

The transactions on blockchain can't be reverted, but the mining pool which verified the transaction can choose to return the money to the original owner by creating a new transaction. The first transaction was approved by Chinese mining pool "Spark Pool," and the second by "Ethermine."

Sparkpool said in a statement that it "has had the experience of handling similar issues properly. There will be a solution in the end."

Ethereum traded 1.2% higher at $247.75 at press time on Thursday. The apex cryptocurrency Bitcoin (BTC) was up 1.1% at $9,873.64.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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A Cryptocurrency User Paid $2.6M In Transaction Fee To Send $136 Twice - Benzinga

As the Ethereum 2.0 upgrade approaches, users have been showing an increasing interest in the staking process, which would allow them to make a passive income by validating the new network.

This is evidenced by the growing number of Ether (ETH) wallets and ETH deposits on cryptocurrency exchanges. According to a recent report published by analytical company Arcane Research, the number of Ethereum wallets containing 32 ETH or more the minimum amount of coins needed to run the staking node have increased by 13% over the year, and the number of Ethereum 2.0 Google search queries have grown by around six times since March.

While some users have already opted to run their own validator node, others are still choosing among becoming an independent validator, joining a staking pool or using staking provider services. But is there actually any difference?

The upgraded Ethereum network will switch from the proof-of-work to the proof-of-stake consensus algorithm, replacing miners with validators who will bet their coins to verify transactions. Once validators verify honest transactions, they will receive the rewards in the form of passive income this process is called staking.

At the moment, the exact size of an annual reward for Ethereum stakers is still unknown. However, according to the projects roadmap, this value will vary from 1.56% to 18.1% and will be inversely proportional to the total number of validators: When the network increases, rewards contract.

On the one hand, a staking model can be attractive to a wide range of crypto users because there is no need for expensive mining equipment or special technical skills and might look as simple as having a bank deposit. All that is needed to receive annual interest on staked funds is to store ETH on a hardware wallet.

However, an in-depth analysis of the requirements for becoming a validator on the Ethereum network has shown that not everything is as simple as it might seem at first glance. The minimum entry threshold of 32 ETH is just one of such requirements.

Related: Ethereum 2.0 Staking, Explained

For example, given the ETH exchange rate of $250, the user will need to invest $8,000 to become a validator on the Ethereum 2.0 blockchain. But what about the reward? Taking into account the cost of validation of $180 and an average reward of 5% suggested by Ethereum developer Justin Drake, the annual profit from staking 32 ETH can be around $190. So, given the possible risks of Ethers price experiencing volatility and users being unable to withdraw funds, this reward model is unlikely to allow an average staker to hit a big jackpot.

Another task users will have to deal with to be a full validator is running their own validator node. As evidenced by a survey published by Consensys, 33% of the ETH users are ready to perform this task. But thats not all. Additionally, validators would be required to ensure the uninterrupted functioning of the hardware wallet. If users disconnect, they lose all their daily income. Even worse, if at some point their stakes drop below 32 ETH, users will lose the right to be a validator.

The Ethereum staking entry threshold is not as high as the cost of running a master node on other blockchain networks, such as Dash, and for many users, high barriers to enter may be unaffordable. That same survey conducted by Consensys also showed that 33% of ETH owners do not intend to participate in network staking, and 71% of those who refused said that they do not hold enough Ether to become a validator.

The above-mentioned limitations can be circumvented if joining a so-called staking pool or staking-as-a-service providers. Such third-party services either decentralized or centralized offer staking on the users behalf and relieve them of the need to worry about launching special software or keeping the network online during the life of the staking deposit. And if launching ones own node can be compared to opening a deposit account at a bank, then staking providers act as brokers, taking on all the risks and maintenance expenses for a certain fee.

The biggest advantage of such solutions is the ability to earn on staking with any amount of ETH, which becomes a way out for many users who cannot afford to keep their own node. According to Consensys, at least 33% of Ethereum users plan to use third-party services and 20% of the respondents who previously revealed the intention to run their own validator nodes said they would consider using a staking service instead. This raises the question: Which is the better option a staking pool or a staking-as-a-service provider?

Today, many crypto exchanges offer staking services for PoS-based coin owners with daily income payments. For example, Poloniex does not impose any requirements on the terms of deposits the user can trade and withdraw funds at any time. For this, however, users are charged a 25% fee on their rewards, which is said to cover operating expenses and risks associated with the management of the service.

Bitfinex, another major crypto exchange, claims that it doesnt charge a fee for its current staking programs, holding a small portion of staking rewards instead. Additionally, asstated on Bitfinexs website, in some cases, its staking service provider can also take a portion of the rewards collected through the exchange. Meanwhile, staking services provided by Bitfinex are available for any category of users since its enough to have as little as $0.10 to start receiving rewards on the platform.

Paolo Ardoino, the chief technology officer at Bitfinex, revealed to Cointelegraph that the cryptocurrency exchange has the biggest Ethereum cold wallet and is planning to be a key part of Ethereum staking. According to him, Ethereum staking will be quite profitable for users who keep their funds on exchanges:

Exchanges like Bitfinex will charge a tiny fee to cover operation costs, but the large majority of rewards will go directly into the pockets of the users. Not all users want to go through the process of custodying their own assets and learning how to stake properly.

Changpeng Zhao, also known as CZ, the CEO of Binance crypto exchnage told Cointelegraph that users who actively stake via Binance will be able to earn higher interest rates than those who simply hold cryptocurrency in their accounts:

Binance will stake a fractional reserve of the Ethereum held by our users, as we still require some funds to be liquid for users to withdraw at any time, while automatically distributing proportionately the rewards to our users.

Another convenience of centralized platforms and custodial services is that they undertake the conversion of the users ETH to ETH2. Cryptocurrency services provider Bitcoin Suisse, for instance,claims that it doesnt charge any commissions for such a conversion, however, it will take 15% from rewards received by its customers. The platform also promises to monitor the timely update of its own software so that the staking process remains uninterrupted and beneficial for the user.

However, according to some users, staking programs offered by crypto exchanges can lead to the centralization of the Ethereum blockchain. In a conversation with Cointelegraph, Sergey Zhdanov, the CEO of cryptocurrency exchange EXMO, explained that although the exchanges will definitely become the biggest network validators, the influence will be inseparable:

Data from Arcane Research and Nansen AI shows that Ethereum wallets with at least 32 ETH, the amount required for ETH 2.0 staking, have grown by 13% this year. The amount of these wallets are more than 120K, so the exchange wallets are taking just 1% of them.

Alongside the crypto exchanges, custodian services provided by some institutional players also appear to be willing to offer such services. According to a PricewaterhouseCoopers report, 42% of crypto hedge funds are also involved in cryptocurrency staking.

Related: ETH Miners Will Have Little Choice Once Ethereum 2.0 Launches With PoS

Zhdanov also pointed out that many big players will likely be staking ETH by themselves as a tool to hedge the risks of their portfolio and that the popularity of ETH among other altcoins working on PoS will help reduce the centralization risk.

Speaking about the probability of centralization, Bitfinexs Ardoino told Cointelegraph that this threat can be possible only in the early phases of the upgrade, adding: Education on the importance of staking from own wallets will be a key factor in order to reduce centralization.

Besides, according to CZ, staking is particularly effective in helping stabilize cryptocurrency prices, as it encourages users to make market buys when purchasing tokens, as well as rewards limit sell orders rather than market sell orders, as users continue to earn staking rewards while their order hasnt filled yet. He added:

Thus, during panics, users are incentivized to set limit orders to sell rather than dump on market, and during bullish periods, users are incentivized to get in faster.

Staking pools or decentralized exchanges can be an alternative for those who are concerned about possible centralization and penalties incurred, for example, for going offline. As the decentralized nature implies, everything from rewards to risks is shared among the members of such pools.

For example, decentralized staking pool Rocket Pool claims that a user deposit cannot be assigned to a bad node since all the pool members share the risk of nodes being slashed and, therefore, the size of the penalty. Thus, if one node fails, each pool member will lose a small number of funds. However, in the case of running a node, its the user whos at risk of losing everything.

In addition to so-called socialized losses, Rocket Pool introduced its native token that represents a tokenized staking deposit and allows stakers to instantly receive a reward and withdraw it at any time. In addition, the pool does not charge fees for staking. However, in order to join the pool, users will need to have a minimum of 16 ETH half as much of the minimum amount needed to run an individual validator node, but a lot more than what crypto exchanges would require.

The entry threshold to become an Ethereum validator has become the most discussed issue among users interested in staking. Many of themargue that 32 ETH is too much and noted that if the required amount was smaller, there would be many more validators on the new network.

Others said that they wouldnt lock up 32 ETH just to secure the Ethereum network unless the staking rewards were higher than 10% per year, given that the possible profit could be negligible compared to losses in the event of a coin price drop. Although the exact staking reward size still remains unknown, many users who have revealed their plans to use third-party provider services already said they would choose the platform that offered at least 7.6% in revenue.

There are also those in the crypto community who appeared to be concerned about the threat of Ethereum centralization, rather than the cost of staking. They, however, appeared to be in the minority. Notably, a significant part of users spoke out in defense of the entry threshold of 32 ETH, comparing this amount to tens of thousands of dollars needed to own master nodes in blockchain networks, such as Dash.

While the launch date for Ethereum 2.0 is still open, users have time to decide whether they want to participate in the stake or not and how exactly they want to do it. As the examples discussed in this article show, almost any crypto user can become a validator of the new network and receive passive income regardless of their financial and technical capabilities.

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Ethereum 2.0: The Choice Between Ones Own Node and a Staking Service - Cointelegraph

[NEW YORK, June 12, 2020]

Chainalysis, the blockchain analysis company, and A&D Forensics, Africas leading blockchain and financial forensics firm, today announced a partnership that will further the adoption of Chainalysis Reactor, the companys investigative software, in the African market.

In April, Chainalysis announced the launch of its partnership program, which, among other initiatives, includes working with cryptocurrency training specialists who will help investigators, compliance officers, analysts, and regulators perform blockchain analysis to derive actionable intelligence using Chainalysis Reactor.

SEE ALSO:Paxful, Africas Largest P2P Bitcoin Marketplace, Partners with Chainalysis for Increased Transactions Overwatch

Chainalysis is dedicated to building trust in blockchains across the world, and Africa in particular is an exciting market with growing cryptocurrency adoption, said Jason Bonds, Chief Revenue Officer, Chainalysis.

By partnering with A&D Forensics, were continuing to expand our reach into new jurisdictions and responding to the increased demand for both cryptocurrency investigation and compliance solutions.

Both Chainalysis and A&D Forensics are committed to promoting the safe adoption of cryptocurrencies by building trust among financial institutions, governments, andcryptocurrency businesses, said Adedeji Owonibi, Senior Partner at A&D Forensics.

By partnering with Chainalysis, were providing the African cryptocurrency ecosystem with the investigative technology that it needs to fully understand blockchain activity.

A&D Forensics joins the program as Chainalysis first investigative partner in Africa,offering law enforcement customers investigatory services using Chainalysis Reactor to help identify and stop bad actors who are using cryptocurrencies for illicit activity such as ransomware, darknet markets, scams, money laundering, and more. This comes at a time when establishing proper compliance procedures and leveraging robust investigative tools is more critical than ever, as jurisdictions around the world scrutinize the cryptocurrency industry.

About ChainalysisChainalysis is the blockchain analysis company providing data and analysis togovernment agencies, exchanges, and financial institutions across 40 countries. Ourinvestigation and compliance tools, education, and support create transparency across blockchains so our customers can engage confidently with cryptocurrency. Backed by Accel, Benchmark, and other leading names in venture capital, Chainalysis builds trust in blockchains.

For more information, visit http://www.chainalysis.com

About A&D ForensicsA&D Forensics has been in the forefront of Financial and Blockchain Forensics Services helping to combat fraud within the Blockchain and Cryptocurrency ecosystem and trainings to law enforcement in Sub-Saharan Africa, The firm was part of VASP Inter-Messaging working group that came out with the recent IVMS 101 standard aim at helping VASP comply with FATF travel rule.

Its Founding Partner was also recently appointed by the Security and Exchange Commission of Nigeria as a member of its Virtual Asset Regulatory Framework Drafting Committee to help bring sanity to the cryptocurrency business and safeguard the interest of Nigerians who are keen to using the emerging Blockchain Technology and the benefits it affords.

For more information, visitwww.adforensics.com.ng

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Chainalysis Partners with A&D Forensics, Expanding Access to its Cryptocurrency Investigative Tools in Africa - bitcoinke.io

A recent report published by QMI on cryptocurrency market is a detailed assessment of the most important market dynamics. After carrying out a thorough research of cryptocurrency market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for cryptocurrency during the forecast period. It can enable manufacturers of cryptocurrency to change their production and marketing strategies in order to envisage maximum growth.

Get Sample Copy of This Report @https://www.quincemarketinsights.com/request-sample-58594?utm_source=WT&utm_medium=Santosh

According to the report, the availability of the decentralized system and the absence of fees on transactions is expected to drive the growth of cryptocurrency market during the forecast period.

Cryptocurrency can be termed as a virtual currency that is used as a medium of exchange and transaction which is secured and has gained much popularity in todays economic world. Most of the important transactions have now shifted to the use of cryptocurrency and a huge segment of the market is now shared by these currencies.

Growth in the number of digital transactions and the availability of a much-secured transaction through cryptocurrencies are the key factors for the growth of Global Cryptocurrency Market. The absence of interest rates or exchange rates on transactions has enabled it to gain worldwide recognition and has led many people to invest in this market. Many other benefits like protection from fraud, low fees, quick international transfers and non-regulation of transactions have led to the growth of the global cryptocurrency market.

Make An Inquiry For Purchasing This Report @https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-58594?utm_source=Openpr&utm_medium=Santosh

Some of the key Impact Factors:o Secured transaction facilitieso Availability of decentralized system and absence of fees on transactionso Unavailability of Government regulations

Insights about the regional distribution of market:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

For cryptocurrency market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific, and Western Europe are expected to be major regions on the cryptocurrency market.

North America and Western Europe have been one of the key regions with technological advancements in ICT, electronics & semiconductor sector. Factors like the use of advanced technology and the presence of global companies to cater to the potential end-users are favorable for the growth of cryptocurrency market. Also, most of the leading companies have headquarters in these regions.

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The Asia Pacific is estimated to be one of the fastest-growing markets for cryptocurrency market. Major countries in the Asia Pacific region are China, Japan, South Korea, India, and Australia. These economies in the APAC region are major contributors in the ICT, electronics & semiconductor sector. In addition to this, government initiatives to promote technological advancement in this region are also one of the key factors to the growth of cryptocurrency market. The Middle East and rest of the World are estimated to be emerging regions for cryptocurrency market.

By Application:RemittanceTradingE-commerceRetailPaymentOthers

By Process:TransactionMining

By Offering:HardwareGPUASICFPGAWalletSoftwareOthers

By Region:North AmericaBy Country (US, Canada, Mexico)By ApplicationBy ProcessBy Offering

Western EuropeBy Country (Germany, UK, France, Italy, Spain, Rest of Europe)By ApplicationBy ProcessBy Offering

Eastern EuropeBy Country (Russia, Turkey, Rest of Eastern Europe)By ApplicationBy ProcessBy Offering

Asia PacificBy Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)By ApplicationBy ProcessBy Offering

Middle EastBy Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)By ApplicationBy ProcessBy Offering

Rest of the WorldBy Region (South America, Africa)By ApplicationBy ProcessBy Offering

Companies:Bitmain, NVIDIA, Xilinx, Intel, Advanced Micro Devices, Ripple, Bitfury, Ethereum Foundation, CoinBase, BitGo, and Binance

Reasons to buy this report:Market size estimation of the cryptocurrency market on a regional and global basisThe unique research design for market size estimation and forecasts

Profiling of the major companies operating in the market with key developmentsBroad scope to cover all the possible segments helping every stakeholder in the market

Customization:We provide customization of the study to meet the specific requirements:By segmentBy sub-segmentBy region/ country

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Latest News On The Cryptocurrency Market | Intel, CoinBase, BitGo, and Binance - WorldsTrend

Cryptocurrency Market research Report is a valuable supply of perceptive information for business strategists. This Cryptocurrency Market study provides comprehensive data which enhances the understanding, scope and application of this report.

Summary of Report @ Cryptocurrency Market

A thorough study of the competitive landscape of the global Cryptocurrency Market has been given, presenting insights into the company profiles, financial status, recent developments, mergers and acquisitions, and the SWOT analysis. This research report will give a clear idea to readers about the overall market scenario to further decide on this market projects.

The analysts also have analyzed drawbacks with on-going Cryptocurrency trends and the opportunities which are devoting to the increased growth of the market. International Cryptocurrency market research report provides the perspective of this competitive landscape of worldwide markets. The report offers particulars that originated from the analysis of the focused market. Also, it targets innovative, trends, shares and cost by Cryptocurrency industry experts to maintain a consistent investigation.

Market Segment by Regions, regional analysis covers

The Cryptocurrency analysis was made to include both qualitative and qualitative facets of this market in regards to global leading regions. The Cryptocurrency report also reinforces the information concerning the aspects like major Cryptocurrency drivers & controlling facets that may specify the markets. Also, covering multiple sections, company profile, and type, along with applications.

We do provide Sample of this report, Please go through the following information in order to Request Sample Copy.

This report sample includes:

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)Top players in the market

Research framework (Structure Of The Report)

Research methodology adopted by Coherent Market Insights

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Reasons why you should buy this report

Understand the current and future of the Cryptocurrency Market in both developed and emerging markets.

The report assists in realigning the business strategies by highlighting the Cryptocurrency business priorities.

The report throws light on the segment expected to dominate the Cryptocurrency industry and market.

Forecasts the regions expected to witness the fastest growth.

The latest developments in the Cryptocurrency industry and details of the industry leaders along with their market share and strategies.

Saves time on the entry level analysis because the report contains very important info regarding growth, size, leading players and segments of the business.

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Market.

The global report is integrated considering the primary and secondary research methodologies that have been collected from reliable sources intended to generate a factual database. The data from market journals, publications, conferences, white papers and interviews of key market leaders are compiled to generate our segmentation and is mapped to a fair trajectory of the market during the forecast period.

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Market Drivers and Restraints:

Emergence of new technologies in Enterprise Mobility

Economies of Scale in the Operational Expenditure

Lack of Training Expertise and Skills

Data Security concerns

Key highlights of this report:

Overview of key market forces driving and restraining the market growth

Market and Forecast (2018 2026)

analyses of market trends and technological improvements

analyses of market competition dynamics to offer you a competitive edge

An analysis of strategies of major competitors

Workplace Transformation Services market Volume and Forecast (2018 2026)

Companies Market Share Analysis

analysis of major industry segments

Detailed analyses of industry trends

Offers a clear understanding of the competitive landscape and key product segments

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Mr. ShahCoherent Market Insights1001 4th Ave,#3200Seattle, WA 98154Tel: +1-206-701-6702Email:sales@coherentmarketinsights.comVisit Here, for More Information:https://theemmasblog.blogspot.com/

Original post:
Cryptocurrency Market 2020 | Scope of Current and Future Industry 2026 - Surfacing Magazine

The Cryptocurrency Exchanges research study includes aspects such as the growth factors, limitations of the market, future and current challenges of the market along with the opportunities that will open up for the market based on the current scenario of COVID-19

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Impact of COVID-19 Outbreak on this Market:

The rise of COVID-19 has brought the world to a halt. We comprehend that this health crisis has brought an unprecedented impact on organizations across industries. However, this too shall pass. Rising helps from governments and several companies can help in the battle against this highly contagious disease. There are few industries that are struggling and some are thriving. Almost every organization is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business to continue and develop COVID-19 pandemics. In light of our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Key players in global Cryptocurrency Exchanges market include:,Binance,Coinbase,Poloniex,LocalBitcoins,BTCC,Bittrex,Kucoin,Bitfinex,Krake

Market segmentation, by product types:,Cloud Based,Web Base

Market segmentation, by applications:,Large Enterprises,SME

Target Audience:* Cryptocurrency Exchanges Manufactures* Traders, Importers, and Exporters* Raw Material Suppliers and Distributors* Research and Consulting Firms* Government and Research Organizations* Associations and Industry Bodies

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Research Methodology:

The research methodology that has been used to forecast and estimate the global Cryptocurrency Exchanges market consists of primary and secondary research methods. The primary research include detailed interview with authoritative personal such as directors, CEO, executives, and VPs.Sales, values, capacity, Revenue, regional market examination, section insightful information, and market forecast are including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. There are Different weightageswhich have been allotted to these parameters and evaluated their market impacts using the weighted average analysis to derive the market growth rate.

The Market estimates and Industry forecast have beenconfirmed through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:* Manufacturers* Suppliers* Distributors* Government Body & Associations* Research Institutes

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COVID-19 Impact ON Cryptocurrency Exchanges Market: Size, Market Analysis, Application, Growth Drivers, Trends, status and Research Report by 2025 -...