HUGE NEWS! Coinbase May IPO in the Next 5 Months | Bitcoin News Summary July 13, 2020

Hi, I’m Nate Martin from 99Bitcoins.com and here’s what happened this week in Bitcoin. Coinbase is exploring listing
on the US stock market, and will host its first-ever
investor day in August. If the SEC approves Coinbase’s plans, it could
go public via direct listing as early as this year. No formal declaration of the intent
to go public has yet been made. Coinbase’s value was estimated
at $8 billion in 2018. The CENTRE Consortium, a collaboration between US crypto
exchanges Coinbase and Circle, has frozen $100,000 of its stablecoin,
USDC through blacklisting an address. When an address is blacklisted,
it can no longer receive or send coins. The move was made in compliance
with law enforcement. The expanding DeFi industry based on Ethereum
hit a new milestone of $2 billion in locked ETH.

The value of this market has grown
by 100% over the past month. The Compound, Maker,
and Synthetix protocols currently account for roughly
three quarters of the space’s value. Electrum, a Bitcoin light wallet we frequently
recommend for its reliability and convenience, added support for Bitcoin’s Lightning Network. Launched in 2011, Electrum is now the oldest
Bitcoin wallet to support Lightning. It’s available for Windows, Linux,
OS X, and Android systems. Venezuela’s armed forces seized 315
Bitcoin Antminer S9 ASIC miners. Assuming the S9s are the latest model, their replacement cost from
Bitmain is close to $30,000. The devices were seized for
operating without a license from the country’s superintendent
of cryptocurrency. Before we conclude,
this week’s “Bitcoin quick question” is: What is Ethereum 2.0 and
what are the updates it brings? Ethereum 2.0 is to become the new,
improved version of Ethereum. Ethereum has been confronting severe scalability
problems that have led to network overload, high transaction fees and
an exodus of developers. Therefore, the remaining
Ethereum developer community decided to switch from Proof of Work,
which is the current network protocol, to Proof of Stake, and to implement
a technique called Sharding.

The combination of proof of stake and
sharding is meant to bring higher scalability and energy efficiency
capabilities to Ethereum 2.0, but imposes potential risks
of centralization and security. Despite the hype, Ethereum 2.0 will be
released gradually over the next 2-3 years, with Phase 0 set to roll out very soon. It will surely be exciting to follow. If you want to learn more about Ethereum 2.0,
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See you next week.

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