(28-Aug-20) This Week in Crypto:
USDC 2.0, Blockfolio, and ConsenSys Quorum
- USDC is getting an update! Centre Consortium members, Coinbase and Circle, announced a 2.0 upgrade to their stablecoin which promises to introduce gasless sends and improved security infrastructure. “gasless sends” enable users to finally move away from the extortionate gas fees that have been a huge bottleneck on any application running on the Ethereum network. With the upgrade, developers can now pay the related fees on behalf of the customer or present and deduct the fees in USDC. As the alleged fastest-growing regulated stablecoin, with $1.4bn and $90bn in on-chain transaction volume, this upgrade is set to impact a wide set of users, further increasing the allure of USDC amid a range of stablecoin competitors (i.e. Tether, DAI, TrueUSD, etc.)
- With a whopping $150m deal, FTX exchange have acquired Blockfolio in a strategic attempt to expand their retail offerings. Blockfolio is known in the community as one of the first widely used cryptocurrency price tracking apps. The application has 6 million users and has roughly 150 million impressions each month. This puts FTX in a good position to develop trading features directly into Blockfolio. Such a feature set could one-day rival Robinhood, Revolut, Binance, and other apps that already have millions of users trading cryptocurrency.
- Ethereum advocates, ConsenSys, have made an acquisition of J.P. Morgan’s open-source blockchain project, Quorum. ConsenSys view this move as a major step in the acceleration of enterprise adoption of blockchain technology and Ethereum-based solutions. Rebranded as ConsenSys Quorum, the new open-source protocol layer serves as a foundation for businesses to build public or private Ethereum-based solutions. The firm continues its commitment to an open-source codebase, available for anyone to begin building applications.
This Week’s Top Crypto Conversations:
Joseph Lubin on ConsenSys’ acquisition of Quorum:
Fair Launch Capital to fund “Fair Launch” projects:
Sign up to Vega’s event - Deconstructing Derivatives:
Testnet user Marcin covers the next generation of Decentralised Exchanges: