The coming altcoin news this week include a new partnership of the horizon, this time between the public distributed ledger and IBM, one of the leading tech companies in the field of blockchain. The ledger Hedera Hashgraph announced that IBM and Tata Communications have joined its governing council.
As the news release shared on August 12 noted, the platform gets an addition of two firms as a “powerful endorsement” of its hashgraph consensus mechanism. The public distributed ledger Hedera Hashgraph will pursue a lot of new opportunities with this.
As the CEO of Hedera Mance Harmon said, IBM and Tata Communications will further decentralize the platform and its governance. They added:
“Our governance model, which includes a robust system of checks and balances, ensures power can’t be consolidated, while at the same time providing a stable and scalable platform on which developers can build.”
The latest cryptocurrency news also show that up to 39 multinational entities will make up the Hedera Governing Council. Each of these members can serve a maximum of two consecutive three-year terms. Moreover, they will be responsible for eliminating the risk of forks and guaranteeing the integrity of the codebase.
The public distributed ledger Hedera will benefit from the governing council. As Leemon Baird, who is the co-founder and chief scientist of the company said:
“The members of the governing council are the actual owners of the company. They aren’t just advisers. They are Hedera. So, Hedera is an LLC that is split 39 ways — 39 companies own it, control it, and make all the decisions.”
Meanwhile, it seems like IBM and Tata Communications are both “excited” to join the network according to their statements on many best cryptocurrency news sites. The vice president of blockchain at IBM, Jerry Cuomo, described Hedera as “de facto standard enterprises use to build, manage and deploy blockchain-based ledgers” and added that he believes this platform could enhance and simplify the deployment of Hyperledger Fabric in enterprise environments
“Innovations such as DLT, AI, and IoT change the way organizations and people interact with each other and with the world. These emerging technologies can be harnessed to strengthen our efforts to improve operational efficiencies and enable our customers’ digital transformation worldwide,” the global hed of corporate venturing and innovations at Tata Communications concluded.
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Kraken Pro Trader Believes Crypto Trading Is The New Wall Street
"Wall Street ain't what it used to be. The first 15 years I was on Wall Street, it was fun. I was very fortunate, I started in the CDS market which feels a lot like crypto. Here you have a lot of financial innovation, a lot of trading...It feels very much like that, there's a lot of energy and enthusiasm about this progress and where it's going."Another example is the Morgan Stanley alum Marcus Swanepoel who told the Financial Times:
"Over the past two years we have seen evidence building that bitcoin is an uncorrelated asset class so it makes sense to add it to portfolios."The trend is growing towards more portfolio managers coming in including what Minier says is mavericks and savvy hedge funds entering the crypto space. The digital currency investment company Greyscale investments also saw its assets under management balloon to $2.5 billion and most of which originated from big investors including hotshot hedge funds. The Kraken Pro trader stated:
"I think it's going to be one of those things in a blink that everybody is going to start chasing it.’’With the upcoming launch of the Bakkt bitcoin futures exchange, more traders could begin to feel the way that Minier does and Kraken has been experiencing an uptick with the institutional demand for crypto but he admitted it was too slow. In the meantime, the rival crypto exchange Coinbase based in San Francisco revealed that hundreds of millions of dollars in institutional capital is coming straight off the sidelines into cryptocurrencies a week as we noted previously in the latest cryptocurrency news. They sure can’t find these types of returns in any other asset class with rock-bottom interest rates and the equities mimicking bond yields. Bitcoin in the meantime has generated high returns of more than 150 percent year to date.
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New Bitcoin Programming Language To Improve Transaction Versatility
‘’It’s a language for writing (a subset of) Bitcoin Scripts in a structured way, enabling analysis, composition, generic signing and more.’’Wuille added that Miniscript was ‘’ designed for Bitcoin as it exists today’’ with no consensus changes were necessary to use it and the developers even stated that they even planned to ‘’support future script changes Bitcoin may include’’ as to evolve with the blockchain technology. Wuille later pointed out on Twitter that the new language could eventually be implemented into the Bitcoin Core repository if the Bitcoin community agreed to do it:
“I’ll work on incorporating parts of this in Bitcoin Core if that’s desired (I believe it could be very useful), but ideally it gets included in many pieces of wallet technology.’’The developers created a policy compiler for Miniscript and among other things tool will let the users get an idea for when the conditional bitcoin transactions will be spent. Pieter Wuille and Andrew Poelstra that worked on the new bitcoin programming language is now the rockstar developers in the Bitcoin community because they already built the new language but also because the technology they’re still working on something that could shape the future of bitcoin for the next few years. Some of the tech includes other developments such as Schnorr Signatures and Taproot which are an efficient algorithm for cryptographic signatures and the other one will make bitcoin smart contract transactions private by making them look like normal transactions. As noted in the latest cryptocurrency news, Wuille noted that the project wasn’t directly related to Taproot but did provide the participating developers with new insights on how to improve the script language itself:
“It’s also mostly unrelated to our work on Taproot, as Miniscript works with Bitcoin as it exists today. Of course, working on Miniscript did teach us a bunch of things about script that inform designs for future improvements to Script, and Miniscript can be extended as needed.”
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