Google Quantum Breakthrough Could Improve Proof-of-Stake

The application of Google’s quantum computing technology could purportedly help improve the technology which underpins proof-of-stake (PoS) cryptocurrencies. Quantum computing would create truly random numbers PoS is a type of consensus algorithm where block creators are randomly chosen with probability proportional to their stake, while the algorithm of proof-of-work-based digital currencies uses mining. However, the PoS variant has raised doubts regarding the integrity of random selections. Scott Aaronson, a quantum theoretician at the University of Texas at Austin, told Fortune on Oct. 23 that quantum computing could assuage PoS-skeptics doubts,…

Security Numbering Association to Consider Standards for Digital Assets

A global association of national numbering agencies has set up a new task force to assess the adoption of name standards for digital assets. All types of tokens to be considered The Association of National Numbering Agencies (ANNA) will examine the identification of digital assets such as tokens and cryptocurrencies, the organization announced on Oct. 23. ANNA oversees the work of global national numbering agencies — organizations responsible for issuing International Securities Identification Numbers (ISINs) —  and will now consider the role and scope of ISINs in regard to the…

Bakkt Hits New All-Time High, With Over 450 Bitcoin Futures Contracts Traded

Bitcoin (BTC) futures volumes on digital asset platform Bakkt have hit a new all-time high, with 452 BTC futures contracts traded at press time. Per historical data from Intercontinental Exchange (ICE) — the operator of Bakkt — today the platform has traded 441 Bitcoin futures contracts for November 2019, with the last recorded trading price settling at $7,400 per Bitcoin. 11 futures contracts for December have been sold, with the last recorded trading price at $7,407. Bakkt Bitcoin (USD) monthly futures contract data. Source: ICE Twitter account Bakkt Volume Bot,…

Interests Fragmenting as Crypto Field Expands

Over the past few months, Libra, Facebook’s prospective global digital currency, has stolen much of the spotlight across many areas of the cryptosphere. The field of blockchain lobbying was no exception: From Mark Zuckerberg smooth-talking powerful officials into supporting his global initiative to an expansion of the impressive roster of corporate lobbyists summoned to advocate for it, Libra has been dominating the recent coverage of government–crypto industry relationships.  Related: How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020 Meanwhile, these much-publicized efforts undertaken by the social media…

Ex-Bankers Offer First Hot Wallet for Institutional-Grade Crypto Finance

Trustology, the digital asset custody provider built by former bankers from UBS, BNY Mellon and Bank of America, has released a custodial wallet designed to brave the gamut of decentralized finance (DeFi). The first version of the wallet, a suite of technologies called TrustVault, looked like a straightforward crypto wallet phone app, but behind the scenes, the user’s private keys were held within clusters of hardware security modules (HSMs) operated by Trustology with verification processes distributed among secure data centers. The new version works in the browser and is compatible with MetaMask.…

Libra Will Not Hit the Market Without US Approval, Says Zuckerberg

The crypto sphere is known for being a disruptive force, but even this sector got a disruptive jolt of its own when Facebook (NASDAQ:FB) announced it would be launching its own cryptocurrency, Libra, in 2020. However, ever since the company announced the launch of its own stablecoin, it has come under fire from regulators from all over the world. Major Setback? As a matter of fact, even the United States President slammed the project and asked the company to instead apply for a banking license. It has now emerged that…

Zuckerberg: Facebook Would Quit Libra if the Association Launched Prematurely

WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals. In a hearing of the House Financial Services Committee Wednesday, Zuckerberg fielded pointed questions on a variety of controversial issues around the social network, from election meddling to housing discrimination to deepfakes. But Libra, the proposed price-stable cryptocurrency Facebook conceived and set up the association to run, was the foremost item on the agenda And many of the…

Bitcoin Volatility Hits 6.5-Month Low as Price Falls Back to $8,000

View Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact. Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion. A UTC close above $8,820 is needed to confirm a bullish reversal. A high-volume move below $7,850 would confirm range breakdown. However, an impending death…

US Treasury to Monitor Libra Over Possible Financial Risks

The U.S. Department of the Treasury has committed to monitoring the Facebook-led cryptocurrency project Libra. The news was announced by Emanuel Cleaver, II, congressman for Missouri’s fifth district, on Tuesday. Cleaver said he’d written to the Financial Stability Oversight Council (FSOC), and the Office of Financial Research (OFR) in August calling on the regulators to “proactively examine Libra and Calibra for possible systemic risk.” Cleaver received a letter from back from the Treasury yesterday, confirming that there are many “unanswered questions” over Libra. The department said that as Congress “continues to examine…

Securities Numbering Body Launches Task Force to Standardize Digital Assets

The Association of National Numbering Agencies (ANNA) has launched a task force to address digital asset labelings across financial markets. Announced Wednesday, the new task force will consider appropriate International Securities Identification Numbers (ISINs) employed by the International Organisation for Standardisation (ISO), an international body which promotes standardizations across global enterprises. The task force will investigate digital asset labels for cryptocurrencies, tokens, and blockchain technology as it intersects with financial markets, the association said. While most crypto exchanges use a standardized set of ticker symbols, there are some discrepancies that…