ValteFri, Dec 3, 2021 4:02 PM
Weekly Digest: Croatia Crypto Adoption & EIP-4488 Proposal
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 favourites to your CoinJoy Feed!
After Elon Musk publicly questioned Ceo of Binance CZ why the platform made users suffer due to its development glitches, Binance resumed Dogecoin deposits and withdrawals and announced the development of a new Doge wallet. Before that users started to get into a massive controversy for Binance's actions in handling the issue, which attracted Tesla’s CEO attention. Even though the problem was solved, Musk still warned the users about using centralized exchanges.
Blockchain project Terra and its native token Luna became the fifth largest DeFi project with its price gaining over 50% of value in just 1 week. And according to many analysts, it's just the beginning of the upcoming bull run as it avoided the big crypto drop that happened to Bitcoin and other popular cryptos last week. The success is mainly explained by the unique offer of pegged to different fiat currencies UST stablecoins minting of which decreases the circulating supply of the native LUNA token and increases its value. The offer has already attracted more than 3 million users and brought the distribution of more than 15 million in tax rewards. Project supporters think that UST will reach $10 million capitalization by the end of the year.
Ethereum software developer Ansgar Dietrichs and network’s co-founder Vitalik Buterin have introduced a new EIP- 4488 proposal that will temporarily reduce the gas fees for roll-ups by setting a limit on the total transaction call data on a block. Buterin though warned that the solution can cause security problems as it can push P2P network layer to the unknown layer of strain as the reduction of the call data will expand the maximum block size up to 10 Mb.
“EIP 4488 should increase data space available to rollups to a theoretical max of ~1 MB per slot and decrease costs for roll-ups by ~5x,” — Official proposal
Following the ban in China in 2017, Huobi decided to open its new regional headquarters in Singapore. The major crypto exchange also plans to expand its presence in Europe and will open offices in the U.K and France in the next 2 years. After Beijing clamped down on all the crypto transactions claiming they are illegal, Huobi started to ban Chinese users and moreover announced the upcoming ban of Singaporian users by the end of Spring 2022.
US-based cryptocurrency exchange Coinbase has bought Israeli cryptographic security company Unbound Security. The price is not revealed to the public but is estimated to be around $150 million. According to Coinbase's official announcement, Unbound’s multi-party computation allows it to store, transfer and deploy crypto assets with more security and flexibility and the company will use its MPC to enable the new features for its customers. The deal will also help Coinbase to establish its presence in Israel and the company is looking forward to expanding its team with the “brightest minds” of the country.
Just 2 days after Kraken has added Shibu Inu to the list of supported cryptocurrencies, meme coin was also adopted by Newegg Commerce, a leading North American technology retailer that will allow payments in SHIB from early December. Before, at the beginning of 2021, the company had already added DOGE as a possible payment method, along with the other digital assets such as Bitcoin that were added even before.
Croatia’s largest supermarket chain Konzum started to accept crypto (Bitcoin, Bitcoin Cash, Ether, DAI, EOS, XPR, Stellar, Tether for online payments and also has a plan to expand a new option to the physical shops too.
To provide this option for its customers Konzum collaborated with a local crypto payment processor Electrocoin to establish a PayCek system that allows it to accept crypto payments and also fixes the exchange rate at the beginning of the transaction to give the customer enough time for successful execution. Konzum itself doesn’t gather and store any crypto and receives all the payments in fiat after Electrocoin performs an exchange.
After most of the main cryptos settled following the massive bull rally, some of the alternative assets came to the surface and Solana became the main of them recently experiencing numerous uptrends. The last one is related to the Grayscales announcement of a new Solana Trust meaning it took the asset under the management, which caused Solana’s price surge and made it gain 30% of the value. Even though the token is now 10% away from its all-time high, analysts think that it can be surpassed soon.
“The recent flip from the bearish divergence may manifest the start of the Alt-season but could be validated only when more than 30% of the altcoins ignite with the bull rally.” — Coinpedia