Every week we collect the most important news about cryptocurrencies and blockchain. After all, who owns information is succeeding in the market.
Today, we’ll talk about JPMorgan’s expansion into the blockchain, a public-debt-based stablecoin, and the new details about Ethereum 2.0.
1. JPMorgan is recruiting staff to its blockchain division. The company is planning to fill positions in audit, engineering and marketing.
Currently, 82 blockchain-related vacancies are open on the financial holding site. The holding is looking for a wide range of specialists, from sales managers and strategic managers to cybersecurity experts.
The CEO of JPMorgan Wealth Management also noted that many clients of the holding already confidently consider BTC a new class of assets and want to invest in it.
Blockchain can transform markets and open new solutions to old problems. Those who understand this have already started actively looking for the right specialists. Over time, the demand for such skills will only grow.
2. The co-founders of digital bank FV Bank said they had obtained an American patent for stablecoin, which is based on the public debt.
The working name of the project is Yuga Coin. From Sanskrit, the word Yuga can be translated as “the unification of two generations.” Stablecoin is described as a “tokenized crypto-asset backed by public debt.” Developers believe that Yuga Coin will be more reliable than the fiat-backed stablecoins.
Theoretically, this approach could indeed be more reliable than counting on central banks. Moreover, given mounting pressure on stablecoins, the market may need alternatives.
3. Vitalik Buterin told about the impossibility of blockchain reorganization after the transition to Ethereum 2.0.
Новая сеть использует «правило выбора форков LMD-GHOST», в котором есть инициаторы блоков и аттестаторы. Инициатор должен предложить блок, а группа аттестаторов — проголосовать за лучшее продолжение сети.
The new network uses the “LMD-GHOST fork selection rule,” which has initiators of blocks and attestators. The initiator should propose a block and the group of attestators should vote for the best continuation of the network.
Every 12 seconds, a new slot appears in Ethereum 2.0, the algorithm randomly selects 1/32 parts of the validators (now 6 125), one of which becomes the initiator, the rest – the attestators. Criminals will not be able to concentrate the dominant part of the validators in a single block of 64 slots.
Buterin admits that merging the two networks too quickly could create new risks. But he’s confident the best way to deal with possible reorganizations is to accelerate the transition to Ethereum 2.0.
The new Ethereum network could revolutionize the crypto market. Developers and investors will be offered new opportunities, and some analysts even believe that ETH will surpass BTC. As the update has been awaited for a long time, it is unlikely that the community will be frightened by the limited risks.