Blockchain Bites: China’s BSN Integrations and Satoshi’s Newfound Wealth

Crypto firms are cooking up ways to become “Travel Rule” compliant, Satoshi’s stash got a little bigger and one of Ethereum Classic’s top supporters is walking away from the project.

Top shelf

Quick bites

  • Argentine telecom hackers opted for monero
  • Samsung added Decentraland support on its mobile wallet app
  • XRP investor Will Meade claimed he worked at Goldman Sachs. Goldman says there’s no record of his employment (Decrypt)
  • DeFi got a robo-advisor (The Block)
  • Dr. Seuss comes to the blockchain thanks to the maker of Cryptokitties (TechCrunch)

The big read

China’s Blockchain-based Service Network (BSN) took a great leap forward by integrating with six public blockchains. Beginning Aug 10, Tezos, NEO, Nervos, EOS, IRISnet and Ethereum developers will be able to build dapps and run nodes drawing on bandwidth from BSN’s data centers. 

The BSN is a toolbox for open source developers to build blockchain applications. Sometimes called the “digital belt and road initiative,” the BSN is an oxymoronic experiment in nation state-led decentralized tech development.

“This is part of China’s plan to be the one and only infrastructure provider for blockchain firms around the world,” CoinDesk’s David Pan reports. Evidence of President Xi Jinping’s commitment to “seize” the blockchain opportunity, the BSN reveals lingering contradictions in China’s approach to open source crypto projects. 

“The Chinese government and regulators are very cautious about decentralized public chains and try not to get involved in anything related to a public blockchain,” Hongfei Da, founder of NEO, said. “It is interesting to see BSN, which has a clear commercial purpose and is backed by entities with government background, is supporting such projects.” 

Market intel

Ethereum at five

From its technical aspirations to unicorns and memes, Ethereum is a culture on its own. It has spawned blockchain uses — from digital cats to yield farming — previously unimagined. 

Ethereum is at a crossroads. But it must complete an ambitious and fraught retooling of its foundations — the long awaited move to Ethereum 2.0 — to keep up with the market’s demands.

CoinDesk is marking the milestone with Ethereum at Five: a cross-platform series comprising a series of special coverage, a pop-up newsletter and live-streamed discussions. New issues and sessions launch daily from July 27-31. Register for CoinDesk Live and our pop-up newsletter.

Opinion

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(Excerpt) Read more Here | 2020-07-21 09:35:00
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