Hedera Hashgraph | 10K Transactions Per Second Network is Now Live!!!
I have discovered five very cool pieces of news to share with you, so let’s quickly have a look at a snippet of each. First up, according to Cointelegraph, it looks like the United States CFTC has welcomed Coinbase’s vice president to work as their new director of Market Oversight. Another news item regarding the CFTC, it looks like former chairman J. Christopher Giancarlo also known as crypto Dad has now joined the Digital Chamber Trade Group. Third up, BitPay, a US bitcoin payment service provider, announced its new integration with Ethereum, allowing the users to accept payments in Ether. Next, ConsenSys, a blockchain software technology company, has launched a platform named CodeFi which facilitates commercially viable decentralized finance and business. And finally, to end the news segment for today, it looks like Hedera Hashgraph, a decentralized public network that claims that it is faster than any other blockchain, is now live.
The Market Today
It looks like altcoin holders are very very optimistic today guys. While Bitcoin is slightly losing 0.16%, fluctuating around the $10,200 mark, Ethereum has surged 7.27% from yesterday. But that’s not all, we also have XRP which has skyrocketed an astonishing 15.21% guys. Congratulations to our XRP holders!
Dorothy D. DeWitt will serve at CFTC
In the first position, the United States Commodity Futures Trading Commission (CFTC) has just appointed the former vice president of Coinbase Dorothy D. DeWitt to work as the director of the division of market oversight. The news was released yesterday by Heath P. Tarbert, Chairman of the U.S. CFTC, stating that the appointed director will be responsible for derivatives platforms and swap data repositories, as well as other new platform-traded products. Now, if you guys haven’t heard of Dorothy D. DeWitt, let me give you a bit of context regarding her professional background. Before joining CFTC, she served as the vice president and general counsel for business lines and markets at Coinbase, a digital currency exchange headquartered in San Francisco, California. In addition to this, she was a partner and portfolio manager at Cadogan Management, an asset management firm. Speaking about the new position, the U.S. CFTC Chairman stated that :
“Her strong investment, risk, legal, and compliance background and familiarity with distributed ledger technology, including crypto assets, will be invaluable as the agency looks to develop a holistic approach to regulating 21st century commodities.”
Former CFTC chairman joined Chamber of Digital Commerce
According to a report on Coindesk, “Crypto Dad” J. Christopher Giancarlo has now joined the Digital Chamber Trade Commerce Group, a trade group focused on blockchain and crypto policy in the US.
Giancarlo was formerly, the CFTC chairman for two years, after serving three years as a commissioner with the agency. During his position at the CFTC, it was the first time the CFTC allowed the first Bitcoin futures products to enter the space. Giancarlo also told the US Senate Banking Committee that in his view, “do no harm” is the best approach when it comes to the blockchain sector, which earned him the nickname “Crypto Dad.” When it came to joining the Digital Chamber Trade Commerce Group, he mentioned
“I’m looking forward to joining this group of advisory board leaders, from many fields and areas of expertise, whom are already working to promote the adoption of this transformative technology. It is my hope that together we can streamline and modernize the regulatory environment and encourage further blockchain innovation.”
According to Perianne Boring, the Chamber’s founder and president, the world’s leaders are increasingly concerned about the future of the international financial and monetary system in collaboration with crypto and blockchain technology. She added:
“Chris Giancarlo’s valuable expertise will be critical as we continue to move the industry forward.”
BitPay now supports Ethereum
The noted US bitcoin payment provider Bitpay now lets merchants accept Ethereum’s cryptocurrency token, Ether. For those that are not aware, Bitpay was established in 2011. Currently, it helps businesses settle their transactions in both fiat and cryptocurrencies in over 200 countries. With crypto, they are now offering Bitcoin and Bitcoin Cash, alongside with ETH. Regarding the adoption, BitPay CEO Stephen Pair mentioned:
“We selected ethereum as it has broad support for real-world applications and is widely adopted. As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
ConsenSys launches CodeFi
The US Ethereum-focused software company ConsenSys has launched its project called CodeFi to provide development tools for commercially viable decentralized finance and business platforms. With this platform, ConsenSys focuses on a new group of customers, including financial institutions and large enterprises. So why are they targeting this new group? As more countries focus on building a digital economy, enterprises will play a pivotal role in making that leap to a more digital-focused economy.
That’s why the CodeFi platform is designed to create commercially viable decentralized finance and business platforms. For instance, with CodeFi, when it comes to digital asset management, it can help companies looking to issue tokens, do so in a compliant and trustless manner. In another feature, a company can create new financial instruments by utilizing robust data from various financial metrics and blockchain analytics.
Hedera Hashgraph is up
Hedera Hashgraph, the enterprise-focused blockchain platform, is opening its mainnet beta to the general public. The network has been available in a testing environment to a small group of corporations and developers. It was not until 00:00 UTC Tuesday, Sept 17 this year that the Hashgraph was available so that anyone can open an account of building a decentralized app on the hashgraph. Now, for those who are curious, a Hashgraph is similar to a blockchain, but it actually uses a bit of a different mechanism to achieve consensus regarding the state of the ledger. So, what are the features that make Hedera Hashgraph a potential contender against blockchain technology? This long-waited network is said to have faster transactions and greater scalability than any other blockchain. Specifically, this network is claimed to be able to support up to 10,000 transactions every second, compared to the Bitcoin blockchain which takes 2.8s and Ethereum system, which takes up to 15s. But they have more features to be proud of. Hedera CEO Mance Harmon added:
“It’s a different data structure, different technology and looks nothing like a blockchain, but solves the same kinds of problems with better security and better performance.”
That’s everything you need to catch up today guys!
What are your thoughts regarding these different news items?
Do you think the participation of Dorothy D. DeWitt can help CFTC with its new strategy?
Are you excited to see Crypto Dad join the advisory board of the Chamber of Digital Commerce?
Do you think it’s cool that payment solution BitPay will support Ethereum’s Ether token?
Can the introduction of CodeFi and Hedera Hashgraph mark great innovation in the crypto sphere?
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.