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    Weekly Digest: Ethereum London & Alternative Flare Gas Energy

    CoinJoy Weekly news June

    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!

    📌 Travala.com to Launch Blockchain-Based Rival to Airbnb

    Travala.com, crypto-based travel booking platform launches Airbnb rival home-sharing service. The new decentralized platform will be named Dtravel and will be powered by the TVLR token and facilitate cryptocurrency payments along with the traditional payment methods, so it will provide faster service with a lower commission and higher trust level. Being fully ruled by the community is supposed to take the house-sharing booking experience to the next level. The users will be able to use native TVLR tokens to book the stay, govern the portal and get the rewards from staking. Interestingly the team behind the project contains former executives from global technology companies including AirBnb itself. The project had already raised $5 million in a seed round backed by NGC Ventures, Kenetic Capital, AU21 Capital, Future Project Ventures.

    “Dtravel meets the needs of the home-sharing community first and forever. It’s easy-to-use, highly secure, and optimized for the next generation of hosts and guests looking to take back control of their travel experience.” — Juan Otero, Travala’s CEO & Co-founder

    📌 Coinbase Enters the Japanese Market

    Coinbase, the largest US cryptocurrency trading service was registered by the Japanese Financial Services Agency as a crypto asset exchange company and started preparations to provide its service in Japan starting with the 5 most popular cryptocurrencies including Bitcoin and Ethereum. According to Coinbase CEO Brian Armstrong, the Japanese market is highly competitive and the company will be focused on gaining a market share that was already quite successfully done in North America. The first crypto company to have its shares listed directly on the US Nasdaq market is looking forward to further expansion.

    📌 Elrond Dev Toolkit developer raises $5.3 million

    Security audit startup Runtime Verification has raised $5.3 million in its latest funding round led by IOSG Ventures. The major players of the venture capital investment market, such as Maven 11, Elrond research, Hypesphere, Borderless Capital, etc. became the key investors of the project. Accumulated funds will go for the development of the tools needed for improving the security, reliability, and the proper work of computing systems of different blockchains and systems. Another goal is to expand the Runtime Verification market presence. With the new tools and products, the project expects to grow rapidly, in particular, expanding in the APAC region and hiring new members.

    “The company validated the effectiveness of its approach to security systems and analytical software development during the accelerator programs of developers of five key blockchains.” — U.Today

    📌 Canada’s Basketball League to Offer Salaries in Bitcoin

    Canadian Elite Basketball League is the first pro sports league in North America to offer Bitcoin as a salary to league players. To do so CEBL partnered with BitBuy, a Canadian crypto platform. As per the official statement, BitBuy will convert the salaries into Bitcoin and then the company will transfer the Bitcoin to the personal wallets of the players. Before the official announcement in December Russel Okung, Carolina Panthers in NFL player received half of his annual pay ($13 million) in Bitcoin, becoming the first NFL player to receive his salary in crypto. This range of events once again shows how the role of digital currencies increased in the last year.

    “The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer. The CEBL continues to provide us as players with forward-thinking opportunities, and the option to be paid in Bitcoin further highlights that they are one of the top leagues in the world.” — Kimbal Mackenzie, Guelph Nighthawks guard.

    📌 Ethereum “London” Upgrade to be Implemented on Testnet This Week

    The London upgrade is to be ready ahead of time and is planned to be implemented on the testnet “Ropsten” this week. The news appeared in the Tim Beiko official twitter account. The upgrade will be followed by the test nets Goerli and Rinkeby. Once it completes the upgrade on the Ethereum mainnet will be done. According to the schedule, it is supposed to happen next month, bringing 5 major improvements. One of them — “EIP1559” will help to reduce the fees, solving the problem with the network overload. It employs standardized controlled fees that raise with high demand and fall when not this much on demand. EIP1559 will also cause the burning of some of the fees instead of returning them back to miners that should decrease the total supply of Ethereum, thus increasing its price.

    “The “London'' upgrade is one of the key steps before Ethereum’s move to PoS with ETH 2.0. The Ethereum Foundation has released estimates that network power consumption will be less than 99.95% of what it is today after the transition to ETH 2.0.” — Ourbitcoinnews

    📌 U.S. Bitcoin Mining Firm Pioneers Alternative Flare Gas Energy

    Crusoe Energy, a Colorado-based mining firm managed to get the energy from flare gas at oil patches to main Bitcoin, which got a significant meaning with the wide criticism towards Bitcoin mining energy consumption. The company claims that its system can reduce gas consumption up to 63% with each one being equivalent to taking 1’700 cars off the road. It is possible because of the drilling industry allowing the discovery of natural gas in wells. Normally drilling companies just burn this gas being unable to sell it, but Crusoe energy installs the system of pipes that heads the gas off the flares and directs it into the generators producing electricity used for mining. Deploying this system in North Dakota, Colorado, and Montana as well as other states allowed the company to become one of the biggest miners in North America.

    “We pay the operator for the gas that we use in our generators, providing them with an incremental revenue stream where they were previously flaring the gas for zero” — Cully Cavness, Crusoe Energy president

    📌 Kraken to Back Kusama Parachain Altair Crowdloan

    The home for financing assets Altair built on Kusama parachain was introduced to the world by Polkadot-powered Centrifuge and now is about to launch a crowdloan for one of the parachain slots on Kusama. As Medium article by Altair says, the new project is supported by Kraken that has started Kusama parachain auction platform earlier this month. This platform allows users to join the crowdloans like Altair and provides crypto exchange options for those who don’t like to interact with blockchain straight away. Kraken users now will be able to securely participate in crowdloan and also stake their KSM to the Altair slot and receive AIR tokens in return.

    “More so, the date of the launch is not given yet. But the team said the launch date would be announced soon. Of note, Centrifuge Chain announced it would also host a crowdloan for DOT to bid for a parachain slot on Polkadot.”

    📌 Coinbase Unveils Solidify Smart Contract Security Tools

    Coinbase presented a new Solidify tool to detect and classify smart contracts automatically. The tool is to be used together with Coinbases’s Asset Hub to streamline its diligence process for new listings launched in early May. Solidify uses a large signature database and pattern matching engine to reliably identify damaged contracts and the risks they carry, so it can also standardize and score those risks, suggest mitigation strategies and create detailed reports. This information later is used to make a decision whether the asset should be listed or not. Solidify also works with the Open Zeppelin library’s assets pause function presented in most of the smart contracts; it collects the code samples to automatically check its validity and status thus making the process a few times more efficient.

    “Coinbase stated that Solidify currently has about 6,000 unique signatures which are used to efficiently match risks against any given smart contract”

    📌 Binance NFT launches today Auctioning works by Andy Warhol and others

    Binance NFT, a non-fungible token marketplace on Binance has launched a “Genesis” auction corresponding with the platform launch.  Salvador Dali’s “Divine Comedy: rebeget” and Andy Warhol's “Three Self-Portraits” are to become NFTs and to be auctioned. A deeper look at NFT reveals Bitcoin symbol, the Binance logo, and the signature of Binance CEO CZ. Genesis will last until the 29 of June. Further on the plan is to present NFT works by many of the worlds artists.

    “Binance and Genesis have the same values. Binance is about to revolutionize the territory of fintech with blockchain and cryptocurrencies. At Genesis, we are about to revolutionize the realm of NFTs.” — Helen Hai, head of Binance NFT

    📌 Vechain Sync 2 and Connex 2 Beta

    At the end of January VeChain announced the launch of Sync 2 and Connex 2 Beta in Q2 of 2021. If they keep the word we can expect to see both tools before July as the Q2 of 2021 finishes with the first month of summer. Sync 2 is a brand new digital wallet built on VeChainThor public blockchain that enables true mass adoption of dApp technology because it can be used from any software and any phone or computer as it works with most of the mainstream browsers; combined with VeChain native fee delegation protocol it provides the users with the possibility to fund gas fees on user’s behalf. Connex 2 is a JavaScript library enabling the integration between dApps and Sync2, so the dApps can easily invoke Sync 2 with a call. With the VIP-201 protocol, it creates the gate for dApps to adopt the VIP-191 delegation service. Moreover, it’s backward compatible with the previous Sync desktop app and allows the upgrade of existing dApps to Conex 2 without affecting the users.

    “Both products were in ALPHA phase in Jan 2021, But we hope as per announcement Beta version for general users will be available before June 30.” — TheCryptoBasic

    📌 Elon Musk Approves of Potential Dogecoin Fee Reduction, Calls It Important Improvement

    Elon Musk, CEO of Tesla&SpaceX and a huge Doge supporter joined the discussion about reducing the token’s transaction fees. He commented on the Dogecoin developer Ross Nicoli tweet about convincing naysayers about the developers reducing present gas fees. The discussion started in spring when Nicoli along with other developers were trying to find out the best way to reduce the fees. That time Musk stated that the fee should decrease by 100% so “buying a cup of coffee with DOGE won’t be more expensive than coffee itself”.

    📌 Charles Hoskinson Wants Cardano and Dogecoin Partnership

    Charles Hoskinson, CEO of Cardano has disclosed the plans for ADA and DOGE partnership, which happened not long after Elon Musk called developers out to work on making Dogecoin a proper digital asset for payment. And that also attracted Vitalik Buterin, co-founder of Ethereum to join the movement, and this strong support might possibly attract more developers to help DOGE. Hoskinson also revealed his opinion about Doge during the Lex Fridman podcast, saying that the meme token is a good base for making an interesting cryptocurrency for whoever wants to work on it. But that will take not less than 2-3 years of devoted efforts.

    ” My hope is that a compromise can be made where real developers come in and they start working on doge to create some use and utility for it so at least it has a value floor and won’t collapse.” — Charles Hoskinson, CEO of Cardano

    📌 Grayscale Ethereum Classic Trust to Get $50 Million Boost from Silbert's DCG

    Venture capital giant Digital Currency Group (DCG) announced the desire to buy $50 million worth of Ethereum Classic Trust shares. According to the prior agreement DCG was supposed to buy $250 million worth of Grayscale Bitcoin trust, but that time the discount was bigger. And later on the max amount of the deal was pushed up to $750 million.  Ethereum Classic Trust shares are traded with a huge 36% discount. GBTC isn’t in a much better position and has not traded with a high price since March.

    "Companies tend to repurchase shares in order to boost the stock price.” — U.Today


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