EthHub Weekly Recap: ETHNY Recap, Facebook registers in Switzerland, Istanbul EIP deadline, Cheeze Wizards game, Flexa SPEDN app, on-chain metrics and why devs build on Ethereum

  
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On the EthHub Weekly Recap we cover topics from the EthHub Weekly Newsletter. In this episode we discuss Eric’s trip to NYC Blockchain Week, Built on Ethereum branding kit up on EthHub, Facebook registers its blockchain product in Switzerland, EIP deadline for Istanbul hits, Dapper Labs new game Cheeze Wizards launches, Flexa network launches the SPEDN application, talking about on-chain metrics and why devs decide to build on Ethereum.

Support our show!

EthHub Weekly #62

Coinbase may acquire Xapo, Cheeze Wizards goes live, HTC Exodus integrates Kyber and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


🔨 Built on Ethereum

There is an explosion of innovation happening on Ethereum and we as a community should be highlighting this for the world to see. That’s why we’ve created a branding kit that dApp developers can use to show off that their products and services are built on the most powerful, secure and used smart contract platform on the planet. The branding kit is completely free to use so we encourage all developers to place it somewhere appropriate on their product or service.

Also, don’t forget to tune into our weekly recap podcast to hear all about Erics adventures at blockchain week - it’s due to go out in around 36 hours from now.

Have a great week everyone!

Anthony


News of the Week

💸 Coinbase May Acquire Xapo

Coinbase is in advanced talks to buy custody provider Xapo for ~$50 million plus an earn-out in order to boost its custody business.

Coinbase and Fidelity Digital Assets have been locked in a neck-and-neck race for the prized asset for the past few weeks, with Coinbase ultimately prevailing. If the tentative terms being discussed hold, Coinbase will pay ~$50 million in cash for Xapo, plus a contingent earn-out for remaining with the company. Xapo raised $40 million since its founding in 2012.

Xapo’s core product is cold storage vault custody of bitcoin, with rumors that the company holds as much as $5.5 billion of assets under custody (AUC) at the current $BTC price near $8,000, reflecting ~700K bitcoin under custody. Xapo custodies 226,000 BTC that are part of Grayscale Bitcoin Trust.

🤔 Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland

According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology.

Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide financial and technology services and develop related hardware and software, plans submitted on the Swiss register reveal.”

Facebook’s march towards crypto has been slow and steady. The company’s latest move, the hiring of two Coinbase compliance managers, happened on May 14.

😕 Amazon Wins Patent for Proof-of-Work Cryptographic System

Tech giant Amazon has been granted a patent for various techniques to build a proof-of-work (PoW) cryptographic system similar to those used by blockchains such as bitcoin.

First filed in December 2016 and awarded Tuesday by the U.S. Patent and Trademark Office (USPTO), the patent outlines how Merkle trees can be generated as a solution to a proof-of-work challenge, among other benefits.

😔 Hacked Cryptocurrency Exchange Cryptopia Goes Into Liquidation

Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has gone into liquidation and suspended trading operations.

The news was announced Wednesday by Cryptopia’s assigned liquidator, professional services firm Grant Thornton New Zealand. Cryptopia confirmed the news on Twitter, as well as on its website.


Project Updates

EIP 1679: Hardfork Meta: Istanbul

The deadline for submitting EIPs for Instanbul has passed (17th of May) and we now have a list of all the proposed EIPs. There is a total 16 EIPs with the most well known being EIP-1057 (ProgPoW) and EIP-1559 (the fee market change).

Dharma Introduces Instant Matching

Instant matching is a new feature that will enhance Dharma’s usability by enabling lenders to match immediately — no more waiting for a borrower who wants to borrow that exact amount because instant matching pools offers together.

Cheeze Wizards Goes Live

Cheeze Wizards is a new blockchain-based game from Dapper Labs - the creators of CryptoKitties. Players can summon Wizards to compete in a global tournament for a title and an ETH prize pool.

Lighthouse Update #11

The team over at Sigma Prime have been hard at work updating and improving their eth2.0 testnet clients.

SKALE Decentralized Storage

This week, the team at SKALE have released their decentralized storage solution to the world. In this post, SKALE explains how the system works and how it improves on existing services such as IPFS.

Nuo Partners with Wyre

Crypto users in the U.S will be able to earn interest on their digital assets by linking their debit card to Wyre and then converting up to $40 per day into stablecoins to start earning interest.

What’s new at Argent?

You can now buy ETH with fiat within Argent if you live in Europe, share a ‘Golden Token’ with a friend (that gives them access to Argent) and you can now hold WBTC in your Argent wallet.

HTC Exodus Integrates Kyber

The HTC Exodus phone has now integrated Kyber Network’s liquidity protocol into its Zion Vault which allows users to easily swap between cryptocurrencies in a decentralized way.

Don’t forget to check out Kybers second ecosystem report here.

Flexa Network Goes Live

Major brands such as GameStop, Nordstrom and Whole Foods now accept BTC, ETH and BCH via Flexas SPEDN app - powered by Gemini.

OMG Network v0.2 Announced

OMG v0.2 (codenamed Samrong) brings with it a number of improvements including new transaction signatures using the EIP 712 standard and the addition of a meta-data field to transactions.


Community Member Spotlight

This week we’re highlighting the work of Kerman Kohli!

Kerman is an Ethereum developer currently working with the Helis Network team.

He also runs the ‘DeFi Weekly’ newsletter and publishes various blogs on his website.


On-Chain Activity


Interesting Tweets


Ecosystem Bits

Blog Posts

Podcasts

Videos

Misc


Looking for Work?

Top jobs listed on Cryptocurrency Jobs this week


Donations: 0xA19FCDaD77C1F0fd184689aca88BabCF68010347


Argent: The Immense Benefits of Smart Contract Wallets

  
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Itamar Lesuisse, co-founder and CEO of Argent, joins the podcast to talk about his team’s product. Argent is a smart contract based cryptocurrency wallet built on Ethereum. Smart contract wallets can solve many user experience issues and headaches that come with traditional mobile wallets. We discuss what these unique features are including the hiding of seed phases and replacing them with “guardians”, ENS integration, 2FA on transactions, withdrawal limits, whitelisting of addresses and much more. This team is pushing the envelope on what the mobile crypto wallet experience should be!

Support our show!

EthHub Weekly Recap: Community call, Moloch DAO, EF funding plan, Devcon Osaka, Binance hacked, FinCEN guidance, PryLabs testnet, RealT launched and bullish ETH metrics

  
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On the EthHub Weekly Recap we cover topics from the EthHub Weekly Newsletter. In this episode we discuss the first EthHub community call, Moloch DAO gets prominent new members, EF pledging $30mn to projects over the next 12 months, Devcon 5 in Osaka, Eric headed to NYC, Binance hacked for $40mn, FinCEN guidance for projects, MetaCartel DAO is born, PryLabs testnet goes live, RealT launched for tokenized real estate and Spencer Noon’s tweet thread on bullish Ethereum metrics.

Support our show!

EthHub Weekly #61

Ethereal news, Binance hacked, PryLabs Eth2 testnet released, MetaCartel DAO is born, RealT is now live and much more!


Curated by Anthony Sassano (@sassal0x) and Eric Conner (@econoar)


🤯 News Overload!

Well, this past week has been incredibly busy for both Ethereum and the crypto space as a whole. At EthHub, we started the week with our first community call which turned out to be a great success - you can find the key takeaways here.

Next up was Ethereal - a conference hosted by ConsenSys in New York. At the conference it was announced that ConsenSys and Ethereum Foundation (EF) members will be joining the MolochDAO, $30mm has been committed by the EF over the next 12 months for Ethereum development and Devcon5 will be held in Osaka, Japan from October 8-11 this year!

Eric’s heading to NYC this week for EthNY and Token Summit. Be sure to reach out to him on Twitter if you want to meet up - I’ll be dealing with a heavy case of fomo down in Melbourne!

Bonus: the video of the panel I participated in at Edcon is now live.

Have a great week everyone!

Anthony


News of the Week

🤣 U.S. Congressman Wants to Ban Crypto

In a Financial Services Committee hearing on Thursday, U.S. Congressman Bradley Sherman (D-CA) called on Congress to propose a bill outlawing cryptocurrencies.

"I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans...in part because an awful lot of our international power comes from the fact the dollar is the standard unit of international finance and transactions," Sherman said.

"Whether it is to disempower our foreign policy, our tax collection enforcement, or our traditional law enforcement, the purpose of cryptocurrency, the advantage it has over sovereign currency is solely to aid in the disempowerment of the United States and the rule of law," he added.

Ed note: I can’t think of a better advertisement for cryptocurrencies!

😲 Hackers Steal $40.7 Million in Bitcoin from Binance

Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world’s largest by volume, the startup reported Tuesday.

Binance announced that a “large scale security breach” was discovered earlier on May 7, finding that malicious actors were able to access user API keys, two-factor authentication codes and “potentially other info,” the exchange’s CEO, Changpeng Zhao, said in a letter. As a result, they were able to withdraw roughly $41 million in bitcoin from the exchange, according to a transaction published in the security notice.

After the hack, CZ publicly discussed whether the company might seek to encourage bitcoin miners and node operators to “rollback” the bitcoin blockchain, reversing transactions confirmed by the network to return the funds.

Shortly after discussing this option, CZ said in a follow-up tweet that after speaking with various parties, the exchange decided not to pursue the rollback approach.

👍 FinCEN Offers Some Clarity for Crypto

The Financial Crimes Enforcement Network (FinCEN) published a new guidance sheet Thursday, outlining when and how different companies, individuals and platforms in the crypto space may be money transmitters under the Bank Secrecy Act (BSA) and other relevant laws. The document highlighted dapps among other models.

Being designated a money transmitter under FinCEN rules means a firm or person must follow federal AML and know-your-customer (KYC) regulations.

In Thursday’s notice, the U.S. Treasury Department’s AML bureau said that while it “does not establish any new regulatory expectations or requirements,” it does combine several previous documents issued over the past eight years, and details in greater specificity how participants in the space might violate AML regulations.

Dapps, the document noted, are “designed such that they are not controlled by a single person or group of persons,” meaning there is no single entity operating as the dapp’s administrator.

However, if a dapp “accept[s] and transmit[s] value,” it qualifies as a money transmitter under the same regulatory interpretation applied to crypto-dispensing vending machines, FinCEN said.

Read crypto lawyer takes here, here & here and Coin Centers take here.

🤔 Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer.

Paolo Ardoino‏ tweeted Monday that Bitfinex has achieved the target in just 10 days, with participation from “giant” firms from both within the cryptocurrency industry and outside.

Some of the investors, which were not named, invested over $100 million each, Ardoino‏ said, adding that others also contributed investments of over $1 million each.

“They know we are trustworthy,” and have a “good understanding” of the company, the CTO said in other tweets.


Project Updates

Prysmatic Labs Releases Ethereum 2.0 Phase 0 Testnet

You can now head to https://prylabs.net to get started with the Sapphire Testnet from PryLabs. Click through to the blog post to learn more about what’s included (and not included) as part of this first release.

You can also read a blog post from the EGS team covering their experience using the PryLabs testnet here.

MetaCartel is Born

After being rejected from the MolochDAO, Peter Pan and the MetaCartel have decided to fork the code and create their own grant based DAO that will fund application layer products to coordinate the sharing of product insights and user data.

RealT is Now Live

RealT is a platform for tokenizing real estate on Ethereum. It uses a single-purpose LLC to own individual properties and then tokenizes ownership in these LLC’s across unique sets of tokens.

MolochDAO Updates

Various updates from Moloch this week including the announcement of new members (ConsenSys, EF employees) and latetot + an anonymous + a recap of other developments over the last few weeks.

FOAM Announces Grants Program

Projects building on the FOAM API can apply for grants between 50,000 and 500,000 worth of FOAM tokens per project.

Microsoft Releases Azure Blockchain Kit

Microsoft released the first Preview release of the new Azure Blockchain Development Kit for Ethereum, as an extension to Visual Studio Code.

New Status Developer Portal

The new developer portal contains all you need to contribute to the repos, earn crypto on Gitcoin, build your own dapp with the javascript API and Embark Project, learn about extensions and much more.

New ZEIP for 0x

ZEIP-34 enables more granular trading, better price discovery and increased market liquidity for NFTs by using property based orders.

Ren Updates

Ren announced a new fee model for the ecosystem and that they will be integrating Dai into that model.

Nuo Integrates Matic

Nuo to become one of the first lending platforms to implement faster Plasma Exits on Matic sidechains.

DeFi Tracker Released

The team from Dexwallet released a tool that allows you to track all of your DeFi activity by simply entering your Ethereum address.

Introducing Cent Messenger & Instant ETH Transfers

You can now directly message any other user (or any group of users) in an intuitive chat-based UI on Cent as well as send ETH instantly using the app!

0x Development Update #18

Daniel Pyrathon, recent hire on the growth team at 0x, runs through Aprils updates from the team including governance and research, growth, general ecosystem updates and much more.

Introducing CIRI: Crypto Interest Rate Index

The Messari team introduces their own take on a “Crypto LIBOR” to track crypto interest rates across various finance apps.

Announcing Unisocks

You can now buy and sell Uniswap branded socks using Uniswap and every SOCKS token bought increases the cost of the next while every SOCKS token sold decreases the price.


Community Member Spotlight

This week we’re highlighting the work of Arjun Bhuptani!

Arjun is the founder of Connext Network - an Ethereum scaling solution using state channels. The team recently released their first product - the DaiCard - which allows instant, trust-minimized off-chain payments in Dai all from your browser.

Connext’s technology is also used to power Ethereum apps such as SpankChain and Ujo Music - all live on mainnet today.

Arjun is also a founding member of the MolochDAO.

If you’d like to learn more about Connext and Arjun, have a listen to our podcast with him here.


On-Chain Activity


Interesting Tweets


Ecosystem Bits

Blog Posts

Podcasts

Videos

Misc


Looking for Work?

Top jobs listed on Cryptocurrency Jobs this week


Donations: 0xA19FCDaD77C1F0fd184689aca88BabCF68010347


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