Rainy autumn has brought some calm to crypto markets with both bitcoin and ethereum somewhat rising and somewhat sidewaying.
The European Commission has been somewhat busy however, with it publishing today a proposal on regulating crypto markets.
While from another angle the European Commission’s Eric Ducoulombier said that “there is no intention by EU institutions to throw banana skins in the way of creating private sector solutions” in the form of a digital euro.
He said there should be no competition between the public and private sector on digital currencies as they should instead be complementary.
Which is just as well because tether has been doing ‘digital euros’ for years now, with their problem being more that no one seems to want tokenized euros as they all apparently only want the dollars.
The value of USD has kept falling however while the euro has remained strong, with it never really clear just what they mean by a ‘digital currency’ as launching an actual euro digital cash coin that is irreversible and like bitcoin is somewhat impossible because it would be difficult to maintain the peg unless you do it like tether.
Trump may blacklist Ant Group, which includes Ant Financial and its payments empire that is said to handle some 50% of China’s daily transactions.
Such move would only strengthen bitcoin’s use case of censorship resistance amid an intensifying trade war between China and America.
More than half a billion has been spent in crypto related mergers and acquisitions in 2020 according to a report by PwC.
That has surpassed last year, with the rest of the world surpassing America as well in this area.
“We expect crypto M&A activity to remain strong for the coming months particularly with some of the larger or more profitable players acquiring firms that offer ancillary services to their current offerings,” said PwC Crypto Leader Henri Arslanian. “We should expect the large crypto unicorns to become increasingly like ‘crypto octopuses’ by acquiring or investing in various ancillary businesses in order to remain dominant.”
Octopuses, one head with many legs to mega corp and enslave, but at least there’s no octopuses in the protocol itself.
Outside of it however, genius SEC has forced Americans to spend $1 billion buying bitcoin at a premium through the loopholed Greyscale products.
While Curve is apparently going L2. They doing Zinc, some ZK rollups new contract language. They say:
“Until recently, it was considered an extremely challenging task to support arbitrary user-defined smart contracts in a ZK rollup.
But things move fast in zero-knowledge proof space these days. 2020 has brought several breakthroughs that finally made it possible: Matter Labs introduced the Zinc programming language and SNARK-friendly Zinc VM, and implemented recursive PLONK proof verification for Ethereum.
The combination of these technologies will power smart contracts on zkSync.”
This is apparently on testnet, but the proof in the pudding is in how manny assets will be locked once mainnet.
Skepticism being a needed default in this space, you’d think probably just a bit more than in the lightning network, but who knows. It is Christmas time soon afterall, miracles sometime do happen.