Tuesday, March 2, 2021

Blockchain Bytes: Goldman Sachs Investigates Crypto Custody, Resolves Blockchain ‘Trilema’ – Coindesk

Must Read

Galaxy S21 Ultra 5G | Grameenphone

Handset Image:LInk:Galaxy S21 Ultra 5GHandset brand:Samsung

Galaxy S21 + 5G | Grameenphone

Handset Image:LInk:Galaxy S21 + 5GHandset brand:Samsung

Symphony ATOM | Grameenphone

Handset Image:LInk:Symphony ATOMHandset brand:Symphony


Happy Martin Luther King Jr. Day to our US readers! A former Prime Minister of Canada has said that Bitcoin could become a global reserve currency, Goldman Sachs wants to move into the business of crypto custody and bullish on MetLife CBDC.

Top shelf

Goldman Sachs is jumping?
Of Crypto custody plans “to be clear soon,” According to an internal source. Ian Allison of Coindesk said the major investment bank has issued a request for information to explore digital asset custody, although it is not interested in becoming a major broker. Last week, Crypto-Native Anchorage received conditional approval from the Office of the Regulator of National Currency Computers.

Updating the base
Coinbase, the shaking of the bull run because the time during the exchange may go down Periods Of Heavy Instability, Is Updating its infrastructure to prevent disruption. This will bring more customer support. Coinbase has sent a smoky signal about going public this year, though it hasn’t filed yet.

Digital “Belt and Road”
China’s blockchain-based service network (BSN) – will be the authorized blockchain network for decentralized applications and token creation – Check a central bank’s digital currency (CBDC) Early in the second half of 2021, according to a January 15 blog post. In addition, the network has become a blockchain of blockchains with a total of 30 public blockchain integrations for this year.

Quick bite

  • NFT and DFI: Andrew Thurman of Quetigraph speaks with Jesse Johnson of Avagothy. (Coinage)
  • Bitcoin bubble? No! (CoinDesk Opinions)
  • Reserve fraud: List of former Prime Ministers of Canada Bitcoin Possible reserve currency. (Coindesk)
  • Volatility fears: Bloomberg reports that Bitcoin price changes are keeping CFOs out of the market. (Coindesk)
  • What does it mean? Respondents to the IMF survey think, not the CBDC. (Decrypt)
  • Bitcoin Review: Nick Carter explains. (New York)

Market Intel

Bitcoin link?
The native token link on the ChannelLink Oracle system has been hit Bitcoin as well as an always higher. Omkar Godball of Kindesk called Link’s new high for overnight trading at 23 23.68 (the previous lifetime high reached 19 19.90). Godbowl reports that the link is just one of many wellcoins that have benefited from the consolidation and capitalization of bitcoin markets.

Crisis

Triplema hesitation?
MetLife is the latest legacy financial institution Look at the hard crypto. MetLife Investment Management (MIM), the investment arm of the life insurance giant, has examined the nature of money, starting with the Yapis stone in the central bank’s digital currency, in a primer titled “The Blockchain Blockbuster.”

My colleague Will Foxley stated that MIM thinks that CBDCs present nothing but “a passing fad” (MIM’s words) “logical advances in money and technology” (in Foxley’s language). “[J]As the dreams of cryptocurrency developers remain high, so do the initiatives of various CBDCs, “the document said.

The 18-page report, published on January 8, did not really say much more. It was argued that the explosion of digital assets after Bitcoin came to the scene aroused interest in the development of CBDC. And by saying “Western countries”, it has come to the conclusion that China’s digital yuan could give a possible direction to the test. Both points are not really debatable, but the debate is ours of course!

There is a small point to test. There were moments of conflict of existence when paper writers Alexander Villacampa and Jun Jiang thought that CBDC and cryptocurrency could (and would) coexist. I quote:

“Bitcoin and its people are constantly fighting to balance the three main concerns known as ‘blockchain trilomema.’ It has been decided that any one triangle should be strengthened to weaken at least one of the others. “

The “scalability trilogy” is a (often constructive) critique of blockchain networks blaming Ethereum co-founder Vitalik Butrin. Although in recent years it has dropped out of the “talk” – a quick Google search found that the problem was often used as a marketing tool for blockchains that probably solved the problem in 2018 – lots of smart people Still thinking About it.

Called Trilema, the concept can actually be reduced to a sliding scale of further development and centralization, with opinions in favor of moving between the two. In terms of efficiency and security it may not have everything the developers have. Optimization for decentralization naturally makes the network more secure but slower. Centralization reduces security by introducing a single entity that can be attacked, but improves output through transactions. Simple enough!

But okay? In 2018, on the first day of the triangle, most people cited Bitcoin and Etherium’s proof-of-work sens reduction algorithm (protection design of networks) as a prime example of how decentralization reduces transactions. Thousands of miners create a secure, but slow network.

Bitcoin developers are looking at a Layer 2 solution Lightning, To create usable payments outside of secure bases, while Ethereum developers are exploring Level 2 and Network overhaul. In most cases, the solution is processing some transactions off-chain, limiting how far a decentralized blockchain can go.

While it is clear that trilogy abbreviations are real and should be addressed, the real solution is probably to ignore framing. The trade-off between scalability and security is a problem that pervades the world of money. Although Bitcoin is accessible to anyone, it is fast-paced and Visa is growing rapidly, but it is also a source of “financial censorship”.

It doesn’t take Bitcoin Maximalist Philosophy Bitcoin doesn’t have to be a store of value and a payment system, but it is an admission that has space for multiple types of systems in the world that are all optimized for different things.

Back to the CBDCs as Villacampa and Jiang note, “The proliferation of electronic payment systems through blockchain technology has captured the interest of central banks who believe they are uniquely able to not only provide better alternatives, but also lay the groundwork.” Electronic delivery systems “If it also includes researchers who think they have solved the” scalability trilogy “, they have more power.

Who won the crypto twitter?

Subscribe to get blockchain bytes in your inbox every week.



LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Galaxy S21 Ultra 5G | Grameenphone

Handset Image:LInk:Galaxy S21 Ultra 5GHandset brand:Samsung

Galaxy S21 + 5G | Grameenphone

Handset Image:LInk:Galaxy S21 + 5GHandset brand:Samsung

Symphony ATOM | Grameenphone

Handset Image:LInk:Symphony ATOMHandset brand:Symphony

Symphony i67 | Grameenphone

Handset Image:LInk:Symphony i67Handset brand:Symphony

Symphony Z32 | Grameenphone

Handset Image:LInk:Symphony Z32Handset brand:Symphony

More Articles Like This