The Swiss city of Zug, home to crypto and blockchain development hub “Crypto Valley,” has been ranked the fastest-growing tech community in Europe.
The Swiss city of Zug, home to crypto and blockchain development hub “Crypto Valley,” has been ranked the fastest-growing tech community in Europe. Swiss startup news channel StartupTicker reported this on Dec. 6.
According to the latest annual “State of European Tech” report from London-headquartered global technology investment firm Atomico, Zug came out top in a comparison of year-on-year growth of attendees to tech-related “meetup” events per European city, with a 177 percent increase as compared with last year:
Comparison of YoY growth of attendees to tech-related meetup events per city. Source: startupticker.ch
As Startupticker further reports, Switzerland overall had a weaker performance as compared with other European tech destinations. The United Kingdom sealed the top spot as preferred destination for non-European “international movers” into the country’s tech ecosystem, followed by Germany and France — with Switzerland in tenth place — behind countries such as the Netherlands, Ireland, Sweden and Belgium.
Neither did Switzerland make it onto the list of U.S. software engineers seeking employment in Europe.
Nonetheless, the Atomico report identified robust Swiss corporate investment in technology, with Zürcher Kantonalbank ranked second “most active” European corporate investor, behind only France’s BNP Paribas.
As reported earlier this week, the country’s national postal service Swiss Post and state-owned telecoms provider Swisscom have just announced a partnership on a “100 percent Swiss” blockchain infrastructure. Its key premise is to provide a service that retains all data within Switzerland, and that can meet the security requirements of banks, in a bid to drive the Swiss economy to “quickly obtain a leading position” in developing use cases for the technology.
Switzerland has a positive reputation among innovators, sealing the top spot of most “blockchain-friendly” European Union country this spring. Most recently, the Swiss Minister of Finance, Ueli Maurer, has nonetheless indicated that in lieu of establishing a blockchain– or crypto-specific legal framework, the country instead plans to tweak existing laws to accomodate the new technology and its financial applications.
Decentralized internet protocol TRON CEO Justin Sun has said the company will build a fund to “rescue” ETH and EOS developers from the so-called “collapse” of their platforms.
Sun made his offer with the precondition that the developers “migrate” their decentralized applications (dApps) to the Tron Foundation network. In the heat of the blistering crypto market crash, one aggrieved commentator immediately quipped, “So… we jump from sinking ship to another sinking ship? Sh**, I’m in. When jump, sir?”
EOS New York, purportedly the twitter account for one of the EOS network block producers, responded directly:
“We think we will be just fine given the billion dollars in VC funding for #EOS and #EOSIO projects that is locked and loaded around the world at Galaxy, SVK Crypto, Tomorrow, etc. Appreciate the offer, though. Best of luck, Justin.”
Other responses spanned the gamut of affirmation, ridicule, or tempered calls for unity in the industry. One user — referring to the divisions over the recent Bitcoin Cash (BCH) hard fork — apprehensively said, it “looks like after the #hashwar we now have a #dapp war.”
This is not the first time Justin Sun has weighed in on his competitors in the industry on social media; in early October, the CEO claimed the Tron network’s latest version, Odyssey 3.1, could beat Ethereum on speed and EOS on cost. Sun’s claims at the time prompted a surge of eight percent in the TRX token’s value.
In recent weeks, TRX — as ETH and EOS — has shed significant value amid volatile markets; the token, ranked 10th largest crypto on CoinMarketCap, is down 4.5 percent on the day, and 44 percent on the month, to trade at $0.013 at press time.
ETH, ranked 3rd, is meanwhile down 14.5 percent on the day and 59 percent on its monthly chart, currently trading at $85. EOS, trading at $1.71 at press time, is down 21.2 percent on the day, 69 percent on the month.
In mid-November, TRON launched a $1 million accelerator program to support developers building DApps and products on the TRON protocol.
In early November, decentralized liquidity network Bancor announced it had added support for EOS within its dApp for cross-blockchain token swaps. The dApp, BancorX, allows users to convert between the ETH- and EOS- based tokens without exchanges, in a bid to bridge infrastructures and bring greater interoperability to the industry.
Mastercard has filed a patent that aims to anonymize transactions on a blockchain, rather than just the user behind any individual wallet.
The filing outlines that “the use of one or more intermediary addresses to obscure the source and destination of funds in a blockchain transaction” can be used in order to “increase anonymity of entities associated with blockchain addresses.” The proposed technical solution would entail a series of “anonymization request[s]” designed to anonymize the transactions themselves, rather than just the user behind any individual wallet.
This would “result in showing the user only transferring funds to and receiving funds from a small number of addresses that are also involved in a significantly large volume of transactions with various other users, thereby rendering the data innocuous.” Analysis of the wallet, Mastercard suggests, would thus yield “little to no information” about the user behind the wallet.
As context, Mastercard notes that while many “are flocking” to various blockchain-based cryptocurrencies, such as Bitcoin (BTC), for the perceived “high level” of anonymity they can provide, “the nature of the blockchain as an immutable ledger is such that every transaction can” – ultimately – “be traced and followed back to the genesis block.”
This fact, Mastercard suggests “run[s] counter to the the primary aim of many users in using a blockchain: anonymity.” Blockchain data can, once accumulated and analyzed, “eventually reveal the user behind a wallet or at least provide information about them, such as geographic location, interests, spending habits, etc.” The filing continues to suggest that:
“The existing communications and attribution structure of blockchain technology such as Bitcoin require identification of where the transactions are emanating and terminating, in order to maintain the ledger. This creates a technical problem of competing interests within the technology.”
Mastercard is by no means the first to tackle the limitations of anonymity within blockchain systems; two high profile privacy-focused altcoins, Zcash (ZEC) and Monero (XMR), are both designed with similar concerns in mind.
ZEC uses Zero-knowledge proofs (ZKP) technology, an alternative algorithm for authenticating distributed ledger entries, in which transacting parties provide proof of validity, but all other information remains encrypted, including their identities. Monero, meanwhile, uses stealth addresses to mask identities by enabling a sender to create a random one-time address that is based on the transaction receiver’s published address.
Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses — some as high as over 20 percent.
Friday, Dec. 7 — Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses. Some coins are down by over 20 percent, as data from Coin360 shows.
Market visualization by Coin360
Bitcoin (BTC) has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time. Having attempted to reclaim ground above the $4,000 price point in early December — to briefly trade close to $4,300 — the top coin’s recovery has failed to hold, and the asset has seen stepped losses in the days before today’s dizzying tumble.
On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.
Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.
Second-largest crypto by market cap Ripple (XRP) is down by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are also blisteringly red, with losses of around 23.5 and 40 percent respectively.
Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.
Third-ranked crypto by market cap Ethereum (ETH) has fared even worse, with 24-hour losses pushing 16 percent as of press time. The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.
Ethereum 7-day price chart. Source: CoinMarketCap
Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin (LTC) is down close to 15 percent, trading at $25.3, and EOS (EOS) is the hardest hit, down almost 23 percent on the day at $1.68.
Newly-forked “Bitcoin SV” (BSV) is the only exception among the top ten, soaring 20 percent on the day to trade at around $109, sealing the ranking of 5th largest crypto. With a market cap of around $1.94 billion as of press time, BSV is holding a slim margin ahead of BCH; the latter, ranked 7th, currently has a market cap of about $1.77 billion.
Just yesterday, news broke of a new lawsuit from tech development firm UnitedCorp against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, which alleges the defendants engaged in manipulation and unfair practices during the immediate aftermath of the BCH-BSV hard fork.
The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.
IOTA (MIOTA) is down over 16 percent to trade at $0.22: Binance Coin (BNB) is down just under 20 percent at $4.56, and privacy-focused alts Monero (XMR) and ZCash (ZEC) are down 14.5 and 20 percent respectively.
Dogecoin (DOGE), ranked 20th, is the “strongest” 24-hour performer, down 2.6 percent at $0.0021.
Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 billion.
7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap
With the markets unremittingly bleak, the United States Securities and Exchange Commission (SEC) has meanwhile yet again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) from investment firm VanEck and blockchain company SolidX.
A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce — who earned the moniker of “Crypto Mom” for her dissent over the SEC’s decision to reject a Bitcoin ETF proposed by the Winklevoss twins — told investors this week; “Don’t hold your breath” awaiting a BTC ETF approval.
The world’s largest crypto exchange Binance has released a new sub-accounts feature for institutional and high-tier individual traders.
Top cryptocurrency exchange Binance has released a new sub-accounts feature for institutional and high-tier individual traders, according to a press release shared with Cointelegraph Dec. 6.
The feature will allow parties to create up to 200 subsidiary trading accounts under the canopy of one main account. This “master” account will have sole control over movement of assets between sub-accounts, and be able to grant each of them different access levels and permissions. Nonetheless, each sub-account will retain its own set of API limits to allow for high capacity trading.
According to Binance’s breakdown of the differences between the master account and its subordinates, the former will have the exclusive ability to view all data and balances, transfer funds between accounts, and have full managerial control and access to a range of asset audit tools.
The press release gives further details, noting that the account management function allows master accounts to freeze or unfreeze their subordinates.
The new sub-account feature is limited in availability to corporate users and individuals with VIP 3 tier (or above) accounts; Binance outlines that “VIP tiers will be calculated on an aggregate basis, and corresponding discounts will be applied to all sub-accounts.”
The exchange has also emphasized that it has upped security for its new sub-account feature by rigorously “sub-dividing” login information to minimize risk.
As reported yesterday, Binance recently released a second preview of its forthcoming decentralized exchange (DEX), stating that a testnet version of the platform will become available for prospective users “soon.”