Today's content includes:
1. Ten-year history of the blockchain (five-minute preview version);
2. Jason Choi talks about Synthetix;
- Booking becomes the seventh member of the Libra Association
- Babbitt Column | Neglected Blockchain Node Operations: The Hidden Value of Mining
- How many blockchain predictions in early 2019 have been implemented now?
- There are joys and sorrows, the blockchain battles of the Big Four accounting firms
- Investment management company VanEck: Bitcoin is a great tool for diversifying your portfolio
- DEX Monthly | Ethereum DEX Shuangxiong: IDEX and Eth2dai
3. 2019 is the year of DeFi (and why 2020 will be the same);
4. The halving story is okay: Litecoin plummeted after halving;
5, Ethereum 2.0 information Daquan.
Ten-year history of the blockchain (five-minute quick version)
This is a quick overview of the 10-year history of the Consensy version of the blockchain. If you have a certain cryptocurrency foundation, and then you are not familiar with the history of cryptocurrencies, you can take a look at this simple quick tour to bring you more history The big picture.
The first transaction ever made on the Bitcoin network was in December 2009.
February-The first cryptocurrency exchange is established, the Bitcoin Market. The first transaction happened a month later.
April—First public Bitcoin transaction: price of 0.03USD / 1BTC
May—The first real-world Bitcoin transaction was performed by Laszlo Hanyecz, who bought two Papa John's pizzas (about $ 25) for 10,000 BTC
June-Bitcoin developer Gavin Andreson creates an airdrop event that provides 5 free BTC to the public.
July-The word blockchain starts to appear on the BitcoinTalk forum. Previously, it was called the "proof of work chain".
July-Bitcoin exchange (also known as Mentougou) named Magic The Gathering Online eXchange is established
August—Bitcoin Protocol Error Leads to Emergency Fork
December-Satoshi Nakamoto stops communicating with the world
January-mined a quarter of 21 million bitcoins
February-Bitcoin reaches $ 1 for the first time
April-Bitcoin parity with euro and pound
June—WikiLeaks begins accepting Bitcoin donations
June-Mentougou was hacked, causing transactions to be suspended, and the price of Bitcoin dropped sharply
August—First Bitcoin Improvement Proposal: BIP Purposes and Guidelines
December — Bitcoin appeared in "The Good Wife" episode, watched 9.45 million viewers
May-First issue of Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin
July-Estonian government begins work to include blockchain in digital ID
September-Bitcoin Foundation established
September — Coinbase raises over $ 600,000
October — BitPay reports that more than 1,000 merchants accept Bitcoin through its payment processing service
November-First Bitcoin halved to 25 BTC per block
February-Reddit begins accepting Bitcoin payments from gold members
March-The Cypriot government's bailout plan charged bank accounts for more than $ 100,000, resulting in a sharp rise in bitcoin prices.
May — 11 million bitcoins in circulation total bitcoin worth over $ 1 billion
May-The first cryptocurrency market crashes, the price rises from $ 13 to $ 220 and then to $ 70
June-The first major cryptocurrency theft. 25,000 BTC stolen from Bitcoin forum founder
July-Mastercoin becomes the first project to conduct an ICO
August-U.S. federal court issues opinion that Bitcoin is a currency or form of currency
October-FBI shuts down the dark online market Silk Road, confiscating about 26,000 bitcoins
October-First Bitcoin ATM opens at Waves Cafe in Vancouver
November — Vitalik Buterin releases Ethereum white paper: "Next Generation Smart Contract and Decentralized Application Platform"
November—Bitmain announces release of S1 Miner
November-Bitcoin breaks $ 1,000
November-U.S. Senate holds first hearing on Bitcoin
December—First submission of Ethereum code base
December-Chinese authorities resume their position on Bitcoin, announcing that it is not a currency.
January — Vitalik Buterin announces Ethereum project at North American Bitcoin conference in Miami
February-UK HMRC classifies Bitcoin as private asset
February-Major DDoS attacks against three major exchanges: Gox, Bitstamp and BTC-e
February-Mentougou goes offline, goes bankrupt, where more than 850,000 BTC is unknown
March: IRS provides guidance on treating virtual currencies as property for U.S. tax purposes
March-Credit card processor Stripe begins accepting Bitcoin
March-Newsweek claims Dorian Nakamoto is Bitcoin creator
April-Gavin Wood releases Ethereum Yellow Book: "Ethereum: A Safe Decentralized Generalized Trading Ledger"
June-Ethereum Foundation established in Zug, Switzerland
June-U.S. Marshals Service auctions 30,000 Bitcoins confiscated from Silk Road. All purchased by venture capitalist Tim Draper
July-Ethereum token issuance raises 31,591 BTC ($ 18,439,086) in 42 days
July-BitShares' first stablecoin BitUSD
September-TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin OTC swap
October — ConsenSys created by Joe Lubin
December—Paypal, Zynga, Overstock.com, Expedia, Newegg, Dell, Dish Network, and Microsoft all accept Bitcoin payments
January — Coinbase opens first U.S. cryptocurrency exchange
February — Stripe launches Bitcoin payment integration for merchants
April—Nasdaq launches blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July-Ethereum launches Frontier's first live mainnet release
August — Augur, the first ICO on the Ethereum network
September-R3 consortium consisting of 3 financial institutions increased to more than 40 members in six months
October-Gemini exchange launched by Tyler and Cameron Winklevoss twins launches
October-Bitcoin featured on the cover of The Economist
November—Announces first zero-knowledge proof ZK-Snarks
November—Proposed ERC-20 token standard
December—Linux Foundation launches Hyperledger project
December-News claims that Satoshi Omoto may be Satoshi Nakamoto
December — Pieter Wuille releases "Segregated Witness and its Impact on Scalability" (SegWit)
January—Joseph Poon and Thaddeus Dryja release "Bitcoin Lightning Network: Scalable Instant Payment on the Chain"
January—Zcash is announced
February—The Linux Foundation and 30 founding members announce the HyperLedger project
March-Blockchain and cryptocurrencies play important roles in Chinese government's five-year plan
March-Launch of the second Ethereum mainnet version, Homestead
April-DAO (Decentralized Autonomous Organization) launched a 28-day crowdfunding. A month later, it raised more than $ 150 million in Ethereum value
May-China Financial Blockchain Shenzhen Alliance Launches, 31 Members
June-DAO under attack, 3.6 million attacks in 11.5 million Ether in DAO stolen
July-DAO attack caused a hard fork of the Ethereum blockchain to recover funds. A few community members who refused to hard fork continue to use the original blockchain as the Ethereum Classic (ETC) blockchain
July-Second Bitcoin halved to 12.5BTC per block
November-CME Group releases Bitcoin price index
January-Bitcoin price breaks through $ 1,000 for the first time in three years
February-Enterprise Ethereum Alliance consists of 30 founding members, more than 150 members after six months
March-SEC rejects multiple applications for Bitcoin ETF
April-Bitcoin is officially recognized as a currency by Japan
June—EOS starts a one-year ICO and eventually raises $ 4 billion
July-Parity exposes weaknesses in multi-signature wallets
August—BTC forks, forks out Bitcoin Cash
October-Ethereum releases Byzantium soft fork network upgrade as part of Metropolis
September-China bans ICO (94)
September-Decentralized financial application locks up to $ 1 million
October-Bitcoin price exceeds $ 5,000 for the first time
October-CME Group announces Bitcoin futures
November-Bitcoin price exceeds $ 10,000 for the first time
November-Segwit2X canceled after being noticed by the Bitcoin community
November—Devcon3 boosts production capacity twice to meet developer needs
December-CBOE Bitcoin futures launched
December-Bitcoin price hits $ 20,000
December-Lightning Network Protocol 1.0 released
December—Ethereum launches Dapp Cryptokitties, which pushes the Ethereum network to its limit
December — MakerDAO launches DAI, marking the future of decentralized finance
December-The median transaction fee for the Bitcoin network peaks at $ 34
December-2017 435 successful ICOs raised more than $ 5.6 billion in funding
January-Switzerland begins accepting taxes on Bitcoin
January-80% of all Bitcoins have been mined
January-Ethereum price peaks near $ 1400
January—The total market value of cryptocurrencies reaches a peak of more than $ 800 billion
January-Facebook bans all crypto-related ads
March-Google bans all crypto-related ads
March-Twitter bans all crypto-related ads
April—In the first four months, 2018 raised more funds than in 2017, raising $ 6.3 billion
April-EU government promises to invest 300 million US dollars to develop blockchain project
April—The market has more than 1,500 cryptocurrencies with a total market value of $ 43 million
June-US Securities and Exchange Commission (SEC) states that Ethereum is not a security
July-over 100,000 ERC20 tokens created
August-New York Stock Exchange owner announces federally regulated digital asset exchange Bakkt
August-Monetary Authority of Singapore launches Ubin project to prove Ethereum's interbank settlement use case
October-Fidelity launches cryptocurrency agency platform
October-Bitcoin's 10th birthday
November-Bitcoin Cash hard fork to BCH ABC and BCH SV
February-Ethereum's Constantinople hard fork release, this is the second part of the Metropolis
April-Bitcoin total transaction volume exceeds 400 million
June—Ethereum's daily trading volume exceeds one million
June-Facebook announces Libra
July-U.S. Senate holds hearing called "Review of Digital Currency and Blockchain Regulatory Framework"
October — Block.One fined $ 24 million by SEC for unregulated $ 4 billion EOS ICO
October-Over 80 million different Ethereum addresses have been created
November-The amount of Ethereum locked in decentralized financial applications reached a record high of 2.7 million Ethereum.
Full text link: https://consensys.net/blog/news/the-decade-in-blockchain-2010-to-2020-in-review/
Jason Choi on Synthetix
TheSpartanGroup and Jason Choi of TheBlockcrunch talk about the recent performance and views of the Defi project synthetix.
Many people have been asking Synthetix price performance recently. Some thoughts on its token demand + supply imbalance:
I first caught my attention when it started climbing (rapidly) on the defipulse. Over 80% of $ SNX holders have invested their tokens in synthetic assets, mainly synthetic USD and Ethereum. This is a very impressive percentage of actual token usage.
How it works: Users combine a large number of synthetic assets with SNX collateral and then trade them by converting them to other synthetic assets. For example, if 50% of the funding pool is used to support sBTC and the other 50% sUSD is used for BTC price increases, the sBTC holder's earnings will be socialized among the sUSD minters.
How it led to a 16-fold increase since May. Some decisions, whether intentional or accidental, helped the team link its platform use to price growth: 1) high ratio + single collateral 2) high inflation reward 3) mortgage interest 5) speculative use cases 6) exchange float
Synthetix implements a 750% mortgage rate. When c-ratio drops, the user's fees + rewards cannot be claimed. When the system's mortgage is insufficient, this brings purchasing pressure to SNX. ETH functions better as collateral (higher liquidity / more stable), but uses $ SNX and compensates risks at a higher ratio, linking the initial use of the platform to the price of $ SNX. Staking is encouraged with high rewards (+ transaction fees) to limit floating. This is similar to depositing "ETH" into MakerDAO also grants you a dividend on Ethereum (of course, $ SNX is less liquid).
The unresolved question is, when the reward inevitably declines and this year's reward is unlocked, can the transaction volume increase to sufficient transaction fees to motivate Staking?
Full text link: https://twitter.com/mrjasonchoi/status/1203644322542829569
2019 is the year of DeFi (and why 2020 will be the same)
In the story of the blockchain, each year can be distilled into an overall trend. The story of 2009 is Bitcoin. Ethereum in 2015. 2017 brought ICO. The answer for 2019 is obvious: the decentralized financial movement is by far one of the most influential trends in the cryptocurrency and blockchain ecosystem.
Standards for an open financial economy – A functioning financial system contains globally efficient markets that allow: – the ability of borrowers and lenders to transfer capital – exchange and trading (ie derivative) processes with the necessary liquidity – individual / investor transfers Means to preserve, raise, and allocate capital – the ability to offset and manage risk – and provide regulatory protection for investors and individuals
The author described how powerful Defi in 2019 and development is not provided, directly provide his outlook on Defi in 2020:
Looking ahead to 2020 Obviously, Ethereum has established its own advantages and it will become the basis of a new financial economy. In 2020, new and existing companies will develop on the basis of loan agreements, which will increase efficiency and develop new products.
Coinbase and Binance will continue to expand rapidly through acquisitions and product launches. For ordinary users and even mobile local users, decentralized exchanges are expected to become easier.
Synthetic assets and new derivatives will surge, creating tens of millions of dollars in value by 2020, and ultimately billions of dollars in value. Some will suck, while others will be novel. The continuous development of new financial products and tools will bring more liquidity and potential profits to investors.
With the development of crypto assets and developments such as mortgages and information markets, speculative activities will continue to grow in 2020. Through the development of entities focusing on risk and security, a more comprehensive analysis of risks related to open finance and risk management Will continue to improve. In addition, the regulatory guidelines will become clearer and hopefully will also facilitate continued use of crypto assets and blockchain networks.
The open financial system based on Ethereum has interoperability, programmability, and composability, laying the foundation for a new financial economy. But keep in mind that this movement is not just abandoning the old financial system, but integrating it with the current system where possible and creating it when necessary. The new financial system must serve everyone, not just by cryptocurrencies. Finally, building a new financial system will take time. Although significant progress has been made in decentralized financial development in 2019, it will make a leap forward in 2020.
Full text link https://consensys.net/blog/news/2019-was-the-year-of-defi-and-why-2020-will-be-too/
Halving the story OK: Litecoin plummets after halving
Messari's report is mainly a warning, Litecoin's halving effect is not working! Now, many hopes in the currency circle have been placed on the halving of Bitcoin. Will the failure of Litecoin's pioneering role cause the story of Bitcoin to lapse?
The current Bitcoin block reward is 12.5 BTC per block. Around May 2020, when Bitcoin will reach its 630,000th block, the block reward will be halved to 6.25 BTC per block.
The story tells us that this could drive the next Bitcoin bull market. Theoretically, the selling pressure generated by miners selling Bitcoin to pay legal fees will be less. In addition, reduced block rewards will strengthen the scarcity of Bitcoin. After halving in 2020, Bitcoin's inflation rate will drop to 1.8% .Although historical data are limited, since only two Bitcoins have been halved so far, each of Bitcoin's first two halves has been halved After all are amazing bull markets.
Like Bitcoin, Litecoin's recent halving has also become a hyped theme story. From January 1st to June 2019, it reached its peak, two months before the halving, and Litecoin rose by more than 340%. However, the situation is different after the fact: Litecoin has fallen by 68.1% since its peak in June and has fallen by 43.1% since its halving. The price has dropped significantly, and the reward has been cut by 50%. The hash rate is also not ideal. Since the sharp profit cut in July, more than 66% of miners have withdrawn from the network, and this severe decline is alarming. .
After all the hype surrounding Litecoin halving, it now finds itself in an interesting position. The hash rate is now at January's level, but the price is exactly twice that at the beginning of the year. The block reward is halved, the price doubles, and the hash rate remains the same … Maybe Litecoin's hash rate has found a local bottom?
Full text link https://messari.io/article/the-dark-side-of-the-moon-litecoin-s-halving
Ethereum 2.0 information
This is a comprehensive summary of Ethereum 2.0 information.
For those who want to learn more about Ethereum 2.0, here is what I consider to be a high-quality source of information. It is very difficult to summarize and extract. Anyway, there is everything you want to know about ETH2.0.
Full text link https://eth2.info