| The difficulty of Bitcoin mining may be raised to 7.4T; the European Central Bank Executive Committee said that stablecoins cannot replace the euro
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John McAfee Announces the Fall Launch of a Cryptocurrency Called 'McAfee Freedom Coin'
digital currency
John McAfee Announces the Fall Launch of a Cryptocurrency Called 'McAfee Freedom Coin'
John McAfee, the father of antivirus software, tweeted that he would launch a cryptocurrency called "McAfee Freedom Coin" in the fall of 2019. In a link attached to the tweet, the "McAfee Freedom Coin" is described as aiming to tackle transactions head-on using a unique paradigm and new structural concept. "McAfee Freedom Coin" is not based on any commodity and is not associated with the value or actions of any external project or entity. The token will always have zero value relative to any other currency, but its natural market value is completely free to grow.
PeckShield: Tether newly issued 150 million USDT on the Ethereum network
According to data from the PeckShield situational awareness platform: at 22:53 in the evening, Tether issued a new USDT worth 150 million US dollars to the Ethereum network, with a block height of 7855157 and a transaction hash value of 0x131bf3d84dac4c1092aa29a1a77fe76815b3e40f8fda3878b5ea0ada2d43948c. As of now, the total issuance of Tether's ERC20 USDT on the Ethereum network has reached 650,010,000 pieces.
According to the market, BSV broke through 220 USDT, temporarily reported at 228.63 USDT, a 24-hour increase of 20.18%.
The large amount of ETH transfers to the top 100 global addresses are transfers within the exchange
Blockchain application
Blockchain application
B1 official wallet code has been released
Investment and Financing
Telegram Officially Releases TON Testnet Blockchain Lite Client
According to the test.ton.org document, Telegram has officially released a test client for its Telegram Open Network (TON). This document archive is a preliminary version of the TON Blockchain Network Lite Client and relevant parts of the TON Blockchain Library.
Investment and Financing
global policy
global policy
Character·Voice
Character·Voice
Report: Bitcoin Adoption 'Insignificant' Compared to Traditional Financial System
The Congressional Research Service (CRS), one of the think tanks of the U.S. Congress, released a report in May stating that the distributed ledger systems supporting cryptocurrencies are not yet able to handle the number of transactions required for mass adoption, and they are actually only used for speculation. The study argues that bitcoin price data does not accurately reflect its overall demand. The CRS studied the number of bitcoin transfers per day and found that the number of transactions was "insignificant" compared to the traditional financial system. While demand for cash in the U.S. is growing steadily, the use of cash for payments is becoming less common, the report said. Still, people haven't turned to Bitcoin the way industry insiders had hoped. So far, the shift from cash to traditional non-cash payment systems has been largely beneficial; at the same time, some observers predict that new alternative systems designed to address traditional non-cash payments will play a larger role in the future. The inefficiencies and risks of the cash system, however, face obstacles in achieving this and involve costs of their own. Private systems using distributed ledger technology, such as cryptocurrencies, may not serve the primary function of money well and face challenges in terms of widespread acceptance and technical scalability.
Bundesbank President: Blockchain is not yet a breakthrough technology
Bundesbank President Jens Weidmann recently said that a pilot project to integrate blockchain technology had failed. The pilot project, a joint effort between the Bundesbank and Deutsche Börse, started in 2016 and ended late last year. While the prototype managed to implement all the "basic regulatory functions" of financial transactions, the implementation proved expensive and slow relative to current standards. According to Weidmann, blockchain solutions are not better in every way. The process takes longer, resulting in a relatively high computational cost. Other experiments in the financial sector have yielded similar experiences. Despite extensive testing of blockchain-based prototypes, no real breakthroughs have been made so far.
