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    Weekly Digest: Tony Hawk, TRC-721 & 3 Years For Twitter Hack

    Coinjoy weekly

    Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to find out what companies’ representatives and media think about all things crypto.

    Please enjoy and don’t forget to add your favorites to your CoinJoy Feed!

    Projects And Updates

    📌 Tron Developers Have Released Technical Documentation For The New NFT Standard TRC-721

    Thron developers revealed the technical documentation for the new TRC-21 standard, which will make creating of NFTs available on Tron blockchain along with other possibilities. Users can create customized tokens through ThronLink Chrome extension and the minimum balance they’re allowed to have is 350 TRX (about $18.3).  New Thron’s NFT standard is fully compatible with the ERC-721 used for creating digital collectibles on Ethereum. It’s very possible that on the long turn it can move Ethereum out of leadership in the NFT industry, mainly because it allows very low fees and almost instant transactions, while Ethereum has been facing lots of criticism lately for raising fees.

    📌 Grayscale Introduces New Cryptocurrency Investment Trusts

    The world biggest cryptocurrency asset manager is expanding its offering and recently opened 5 new investment trusts, which means now it has 14 investment products with Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) added to the portfolio. The news caused more than 20% the raising of the mentioned assets just a few hours after first news was published.

    “The overall market cap of digital currencies now stands at around $1.8 trillion.” — Finance Magnates

    📌 Cardano Scores Coinbase Pro Listing

    On March, 16 Coinbase reported the opening of the inbound transfers for ADA, planning to start full trading on March, 18, if the liquidity will be established. If it goes smooth, order books will start moving through full trading phases. If ADA token will get listed in the Coinbase Pro, it will most likely be followed by the listing on the retail exchange which will make it accessible for lots of new investors. Recent upgrades of the Cardano network caused a significant rise in its prices. And as for the main object of criticism towards the network – dApps are most likely to be added soon with the Coguen upgrade.

    “In the past 24 hours alone, it has risen by 22% — and investors are expecting further rises with the Goguen upgrade slated for release soon.” — Beincrypto

    📌 Yizhiji & VeChain To Supply Lipstick Products With NFC Chips

    VeChain blockchain platform partnered with Yizhiji cosmetic brand to use fully traceable through blockchain technology NFC chips to ensure the authenticity of the lipsticks merchandise. Each product will be marked with NFC chips to present all the information about the item, stored in the VeChain network. The system will be integrated with WeChat where customers can choose the color, shade and tone of the lipstick. As Yizhiji company is steadily growing and conquering the market and with the help of VeChain they are seeking to establish a new standard in customer relationship management. It also means a huge step forward blockchain adoption by the cosmetics industry and as many experts expect soon it will make NFC more affordable so more companies can also embody it.

    “This new development is expected to get down well with the consumers, and if this experiment yields desirable results, we may witness a slew of more such new partnerships in the future.” — CryptoNewsz

    📌 Ethereum Takes A Step Closer To Proof-Of-Stake

    Still running on proof-of-work algorithm Ethereum is getting closer to become a proof-of-stake network and developers are now passing the phase 0, also known as the “beacon chain” that will help integrate block creation and rewards in the Ethereum 2.0 promised to be realized soon. Recently Mikhail Kalinin, of Ethereum 2.0 software client Teku suggested an “executable beacon chain,” that can make the whole network design lighter. The Co-Founder of Ethereum Vitalik Buterin wants to integrate two systems ASAP or to check different ways of it to be done and currently, in collaboration with Mikhail Kalinin, he is preparing technical specifications for the merge. But in this case, the rush can cause the loss up the validation of validator withdrawals that will mean users funds will get locked in the system until developers complete integrating the feature.

    “The Ethereum Foundation has estimated that the merger will be completed in 2022 in phase 1.5 of the roadmap.” — Dailycoin


    📌 Lawmakers Introduce Bill To Bring Long-Awaited Crypto Clarity in the US

    Presented by the lawmakers legislation named “Eliminate Barriers to Innovation Act of 2021” is meant to establish the jurisdiction of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over cryptocurrencies, where SEC is responsible for the assets classified as a security and CFTC is inspecting the commodities. To classify the legal and regulatory standards a working group of industry experts and non-governmental representatives will be formed to analyze the influence of existing regulations on the markets and the US competitiveness. Based on this data, the group will make recommendations for the digital assets markets.

    “The move comes amid calls for clearer crypto regulations, with SEC Commissioner Hester Peirce in the forefront of pushing for regulatory clarity as institutional interest in Bitcoin (BTC) and other cryptocurrencies continues to grow.” ­— Dailyhodl.

    Mass Adoption

    📌 French Retail Giant Will Launch Tezos-Based Stablecoin

    Group Casine, 120 years old French retailer supervising more than 11,000 shops in France and Latin America is launching a Lugh stablecoin named after the God in Irish mythology and pegged to euro. The token by the ticker symbol EURl was developed with Tezos protocol and will be used in the stores’ loyalty programs and will be also available for trading. That was made in a partnership with crypto exchange Coinbase, accounting firm PricewaterhouseCoopers, stablecoin infrastructure provider Sceme, research and development firm Nomadic Labs, and financial services group Societe Generale. During the test phase about 500,000 coins will be available exclusively through Coinbase and after a few months on the other platforms as well.

    📌 Visa To Work With Bitcoin Wallets To Enable BTC Conversion To Fiat

    As Alfred Kelly, Visa Chief Executive Officer confirmed, Visa is collaborating with Bitcoin to allow easy conversion from Bitcoin to fiat currencies. The work is held in two directions: to enable the Bitcoin purchase using Visa and to exchange Bitcoin to fiat and straight away use anywhere where Visa is accepted. If the plans will come true, it will make visa the leader in the world’s crypto adoption process as it had been already cooperating with other cryptocurrencies. At the same time, Mastercard also doesn’t wanna be out of trend and with the increase of crypto awareness expands its plans in this direction. In particular, they’ve already patented the device billing system in sync with the Iota Tangle Network.

    “The endpoint for both Visa and Mastercard remains the same, to be part of the imminent revolution that the cryptocurrency ecosystem is bringing to the global payment system.”  — Blockchain.news

    📌 Australia Allocates $5.3M On Blockchain Pilots

    Australian government allocated $5,3 million to research the role blockchain can play in regulations. Money will be directed to two pilot projects examining the possibilities to decrease the cost of regulatory compliance, one of them focused on the critical minerals and the other one will focus on the source of food and beverages. Those projects should demonstrate how useful blockchain technologies can be in the Australian public sector. Though in fact blockchain already made an effect on the regulatory technology sector, as the company changed compliance by allowing real-time business KYC on-chain to Bitcoin SV.

    “It is [blockchain technology] designed to demonstrate the benefits that technology can bring and help bring along changes amongst regulatory culture.” — Tim Bradley, the general manager of the department’s Emerging Technologies and Adoption Division

    📌 Travala.com Begins Accepting ADA Via Binance Pay

    ADA coins were added in the list of available payment options on crypto friendly booking service Travala. Moreover, the customers using Binance Pay can complete payment straight through their Binance account and additionally get 10% cashback if the transaction was complete before March 31. Travala is now accepting 33 cryptocurrencies as a payment method and also seeking to broaden the list to support crypto adoption and to encourage travel freedom.

    Travala claims it has partnerships with over 600 airlines in 230 countries worldwide” — Coinquora


    📌 Florida teen linked to Twitter hack changes plea gets 3 years in jail

    Graham Ivan Clark, a teenager from Tampa, Florida was sentenced to 3 years in state prison for young adults for hacking Twitter accounts of Barack Obama, Joe Biden, Elon Musk, Bill Gates, Kanye West, Apple, and Uber. Working with 2 other people he used those accounts to defraud BTC from the public figures subscribers, asking them to send funds to his account and promising to double them. But the scummers were quickly hunted down. At the beginning, Clark was pleading not-guilty, but as became known recently he agreed on the deal with the prosecutors and admitted the guilt. Because of his cooperation, the prosecutors concur to the sentence already 18 years old Clark as a youthful offender, which helped him to avoid a minimum 10 years imprisonment. Though, if Clark violates the rules of 3 years probation following the sentence, he might get the full term.

    “It was important for him to be held accountable for his crime. This will serve as an example to other potential scammers.” — Andrew Warren, the Hillsborough State Attorney

    📌 Nifty Gateway Accounts Hacked in NFT Art Heist

    Over the last weekend, several users of non-fungible token marketplace Nifty Giveaway reported about the hackers attacks on their accounts. Scummers used linked credentials to buy artworks that later were removed from the accounts and sold through Discord and Twitter. The representatives of Nifty replied to all the affected and interested users by posting a statement on Twitter, saying that the problem wasn’t in the system, but with the deceived user’s accounts, none of which had 2FA enabled.

    Our analysis is ongoing, but our initial assessment indicates that the impact was limited, none of the impacted accounts had 2FA enabled, and access was obtained via valid account credentials” — Nifty Gateway


    📌 Tony Hawk To Sell Ollie 540 NFT On Ethernity Chain

    The main skateboard celebrity Tony Hawk in his Instagram announced the sale of the video where he completes Ollie 540 as  NFT. Ollie 540 is quite a complicated trick with one and a half spin in the air with the feet on the board. In his post Tony Hawk tells how he managed to make it, that the ale will happen on the Ethernity chain in the coming weeks. Considering recent hype around NFTs and the interest towards crypto Tony Hawk was showing from a long back, his desire to participate in an NFT race isn’t at all surprising.

    NFT auctions are wildly popular at the moment, with big celebrities putting up tokens ranging from artworks to tweets.” — Beincrypto

    📌 Elon Musk Reverses Decision To Sell NFT, But Not Before Setting An Asking Price Of 420M Dogecoins

    Seems like Tesla CEO Elon Mask had changed his mind about selling his first NFT — “The song about NFTs'', judging by his latest tweet: "Actually, doesn't feel quite right selling this. Will pass."  Just a few hours after publishing he got many bids, including a joky reply from the digital artist Beeple, who recently sold the world's most expensive NFT for $69 million and said he will pay $69 million for the song. Musk in turn said that NFT price is 420 million Doge, again mentioning the mem-born cryptocurrency that thanks to Mask recently tweeting about it had skyrocketed.

    “If calculated with Dogecoin's unit price, the price of the NFT Musk was planning to sell would have been valued at approximately $24.26 million if 420 Dogecoins were accepted as payment” — Blockchain.News

    📌 BitMEX Co-Founder Benjamin Delo Surrenders To U.S. Authorities In New York

    Benjamin Delo along with the other Bitmex Co-founders was accused of violating anti-money laundering policies and failing to implement know your customer (KYC) programs.  

    On Monday, March 15 he flew from the UK to New York and remotely appeared before Magistrate Judge and denied his fault, after that he was released on a $20 million bail. His surrender was part of the agreement with the F.B.I, U.S. Border Patrol and Customs. Delo does not agree with the charges and now is working on his defense.

    “The charges against Ben are unfounded and represent unwarranted overreach by the U.S. authorities” — Delo’s spokesman


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    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.