A new report by Business Insider on August 30th says that CBOE Global Markets, which is the owner of the Chicago Board Options Exchange (CBOE) and one of the world’s biggest exchange holding companies is planning to launch Ethereum futures trading.
According to sources familiar with the entire situation, CBOE is planning to launch ETH futures by the end of this year and will reportedly base its ETH futures on Gemini’s underlying market – just like it based the Bitcoin (BTC) futures on the New York-based crypto exchange run by the Winklevoss brothers.
The Bitcoin futures trading at CBOE began in December 2017. For those of you who don’t know, futures basically represent an agreement to buy and sell an asset on a specific future date and at a specific price. As such, they enable investors to speculate on the BTC price without having to own BTC. Therefore, Bitcoin futures are not just for physical assets – they can also be traded on financial assets.
Another person familiar with the situation told BI that the futures and options exchange is waiting on the Commodities Futures Trading Commission (CFTC) to give the project a kick-off date before its official launch.
Meanwhile, in July this year, another major US financial regulator – the Securities and Exchange Commission (SEC) – said that Ethereum was not a security. Then, the CBOE Global Markets president, Chris Concannon, said that the announcement “clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017.”
The Chicago Mercantile Exchange (CME) is also known for its Bitcoin futures trading. Last month, they released a report which indicates that the BTC futures have increased by 93% in the Q2 of 2018 – compared to the Q1 of 2018.
About 1% Of The Total ETH Supply Is Locked In The MakerDAO Smart Contract
What's interesting is the following... Even though the blockchain shows around 1 million in ETH locked up in Maker smart contracts, Dai's token market capitalization is about a third of the figure, currently sitting at $72 million. The way this system functions is simple - users pool Ether together (referred to as PETH) and are issued Dai tokens which are deposited and stabilized at $1. One term that is widely used in these discussions is "WETH" which is short for "wrapped Ether" and a concept of the MakerDAO. At the time of writing, there is a total of 967,507.91 ETH locked in the primary Maker contract.“You’re most likely familiar with stablecoins that hold USD in bank accounts and issue tokens on a blockchain that are ‘backed’ by these dollars. I call this legally-backed crypto, or an IOU coin, because if those bank accounts should ever be frozen or if the accountants defrauded token holders, the stablecoin now becomes an IOU on whatever’s left when they eventually get the bank accounts back (if they ever regain the bank accounts). Relying on the legal system to maintain crypto-tokens inserts an unreliable middle-man into the blockchain."
January 16th: The New Goal For Ethereum’s Constantinople Blockchain Upgrade Launch
"We can just say mid-January, it doesn't make difference if we decide on a date or not. We can always postpone."Other developers pointed to Ethereum's so-called "difficulty bomb" which is an algorithm that is embedded within Ethereum's code that makes blocks steadily harder to mine - and one that was put in place to act as an incentive for encouraging regular updates in the network. Constantinople has delayed this difficulty bomb for a further 18 months while decreasing the Ethereum mining reward from 3 ETH to 2 ETH per block. However, Szilagyi noted that the software upgrades which will implement the hard fork should be released before the end of the year
"All clients should release a stable version with the baked in block number before Christmas," he concluded.
ConsenSys Creator: Blockchain Is Much More Complicated Than The Internet And Will Take A Little Longer To Develop
''Blockchain projects will enable people to build more things that will come in handy again. That's how the web was developed. It will probably take a little longer because it is much more complicated. Also, because we work on topics such as digital money, Blockchain will permeate society more than the Internet. Everything will be networked in a Web3.”ConsenSys was created right before Ethereum was released with one goal only-to build tools and the right infrastructure so a decentralized system can be created in which Ethereum will function and also not focus on controlling the ecosystem bur promoting it. While explaining how the current internet functions and how the blockchain does as well, he said that the internet today and the nature of the blockchain technology is completely contradictory which enables a ‘’self-determined, sovereign identity.’’
School Principals In China Caught Red-Handed For Stealing Power To Mine Ethereum
Join us on Facebook
- Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
- A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
- SEC Shuts Down Two Crypto Startups For Illegal ICOs
- Q3 Report: Chinese Blockchain Company Xunlei Reaches $45.3 Million In Revenue
- Financial Analyst Gary Shilling: Bitcoin Is Some Kind Of A Grand Ponzi Scheme
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
wed05dec9:30 am5:30 pmDigital Asset Investment ForumExploring the Emerging Asset Class.9:30 am - 5:30 pm The St. Regis Washington, D.C, 923 16th and K Streets, N.W., Washington, District Of Columbia 20006 USA
Altcoin News5 days ago
Australian Exchange Co-Founder: ‘Stablecoins Are A Game Changer’
Blockchain Archive2 days ago
ICO Promotion Services | Advertise your ICO | Promo for ICO
Blockchain News3 days ago
Bank Of America Secures A Patent For Crypto Aggregation Systems
Altcoin News5 days ago
CFTC With A Fine Of $1.1 Million To Crypto Fraudster
Blockchain News4 days ago
Iran Gets Removed From SWIFT, Considers Switching To Crypto As Planned
Blockchain Archive4 days ago
Blockchain Conferences Marketing | Advertise Cryptocurrency Events
Blockchain News5 days ago
The City Of Graz Opens A Cancer Research Laboratory That Will Use Smart Contracts On The Blockchain
Analysis4 days ago
Bitcoin Falls To $6,300, Recording Two Sell Candles On Its Daily Chart