Weekly Cryptocurrency News Roundup – 6th May

Last week, we had some remarkable developments in the cryptocurrency space. Whether it was big brands opening up new blockchain opportunities or new miners surging ahead like an unformidable army, it was an interesting week.

Ethereum’s proof of stake

In a call among Ethereum developers last week, it was revealed that the code for the long-awaited Ethereum proof of stake is set to be completed next month; tentative date – June 30th.

If you know anything about Ethereum mining, you’d know that plans have been on the way to move Ethereum mining from a proof of work system to a proof of stake mining system; same end with different means.

Amazon managed blockchain

Amazon web services (AWS) is opening the Amazon managed blockchain to the public. With this, businesses and customers can manage blockchain within their network.

What AWS intends to achieve with this is a system where blockchain technology is easily attainable for businesses and customers.

Facebook Stablecoin

Internally called “Project Libra”, this Facebook project is focused on creating a cryptocurrency that allows Facebook users to send money to one another and to also buy goods and services online.

Facebook is said to be meeting with firms like Visa, First Data Corp and Mastercard for proposed partnerships.

Any Interest in Bitcoin Mining?

A new report has shown that the cost of cryptocurrency mining equipment in China has nearly doubled to the extent that second-hand old bitman miners now cost between 250 and 320 USD. This can only mean that interest in mining in the past year has grown remarkably.

A significant influence on the price interest in Bitcoin mining in recent months has been an increase in the price of bitcoin.

Digital Payments across Borders

An experiment that turned out well has been carried out by the Monetary Authority of Singapore and the Bank of Canada. The experiment involves carrying out international payment via central bank digital currencies and blockchain technology.

The future of cross border payment is looking good.

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Quidax is a European based digital assets exchange that provides a simple platform for users to send, receive, buy and sell digital currencies. Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. You should conduct your own research before deciding to store, buy or sell any cryptocurrency.