Crypto digest 16-30 April 2020

Bitcoin Bull Run Ahead Of Halving And Other Crypto News For April 16-30, 2020

Bitcoin is on fire. The second half of April witnessed Bitcoin’s longest winning run this year. On April 29, overpassed the $8700 level once again.

Nominex analysts suggest that the market is optimistic ahead of the BTC’s third halving event that will take place in a matter of weeks – whales return and newcomers arrive.

The most anticipated event of the crypto world in 2020 is expected to happen in less than 2 weeks.

A wakeup call from East: China tests digital yuan

While the West is busy saving the economy, China continues to challenge the dollar settlement system. China’s central bank has started testing e-RMB in major Chinese cities: Shenzhen, Suzhou, Chengdu and Xiong’an.

Digital Yuan

In these cities, digital yuan has already found its ways into municipal monetary systems and government employees will already receive their May paychecks in a new brave central bank-issued digital currency (CBDC).

The pilot aims to cover everyday citizens’ needs and even American brands like Starbucks, McDonald’s and Subway will be part of this testing phase.

Moreover, Chinese AI giant SenseTime has partnered with the agency that oversees the digital yuan project to bring up some artificial brains to the biggest financial experiment of the year.

Ethereum powers up amid rush for stablecoins

Covid-19 crisis increased the investor’s appetites for stablecoins and Ethereum’s embrace for them started to pay out. Ethereum is not just on the rise, reaching almost 200$. It is on the rise against BTC, shared Nominex trading experts.

Stablecoins account for 80% of daily transactions volume on the Ethereum network, according to the Messari report. The network holds over $9 billion stablecoins, shared Ryan Sean Adams in his tweet.

Libra’s return: new moves and new members

Libra Association

In Mid-April, Libra Association passed an important milestone by applying for a Swiss regulator’s license and introduced significant changes to the whitepaper. 

The Facebook-related project has also pivoted from the idea of fiat currency-backed crypto and announced that their creation will be backed by single currency stablecoins. The white paper changes are designed to increase chances for the regulator’s approval.

By the end of April, Libra has also lured the new 23rd member to its association – UK startup that became the first payment processor in the team.

BSV’s scaling solution threatens Visa 

Bitcoin Association revealed that Bitcoin SV (BSV) can finally compete with such payment processors like Visa or Mastercard.

The BSV’s test network has managed to handle the peak of 6,400 transactions per second, while VISA processed on average 1,700 transactions, shared the association in their first annual report.

Microsoft-style biohacking: using brainwaves to mine crypto 

Brainwaves To Mine Crypto

Microsoft has filed an application for the patent in the US for the cryptocurrency system that will use body activity as the means to mine cryptocurrencies.

The patent promises that humans will be able to “solve the computationally difficult problem unconsciously”, by installing a special device.

In return for sharing the data, that includes brainwaves, users will be rewarded with cryptocurrencies, reads the patent.

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