Earlier this week on May 21st the Ethereum Foundation published its Spring 2019 update and spilt all the details on the planned development for the next coming year. The report mainly focuses on how ETH plans on allocating the $30 million designated for use by the Foundation in further developing the currency. The Foundation further went onto report on the “tremendous progress” being made for the cryptocurrency over the last twelve months and gave a nod to the efforts of developers, entrepreneurs of Ethereum. Despite the growth of competition with rival projects like EOS and TRON, the Foundation also claims Ethereum to be the “de-facto platform for decentralized applications.” Even so, research has shown us that Ethereum’s grip on the dApp marketplace is fading away. Funnily enough, the Foundation has reported a change in attitude towards its mission statement, owing to a refinement in focus. Compared to previous years, the motto “doing what is best for Ethereum” doesn’t mean “trying to do everything for the currency” anymore. No, instead the Foundation claims to be keyed in on affecting change where it can add the most value while leaving the remainder for developers and innovators more in line to deal with issues they are effective in solving. The Foundation claims that its updated role is to now be “a resource allocator, a voice in the ecosystem, and an advocate for Ethereum to the world.” In fact, according to the report, the Ethereum Foundation is in control of 0.6 percent of all ETH, in addition to holding cash reserves. However, the Foundation claims that its resources will go down over time, with the largest valuation being invested into “critical work” across the ETH ecosystem. The Foundation also relays to investors that understand the importance of the capital they command and intend to use it wisely. “It is our responsibility to ensure that every last dollar and wei is spent effectively.” This year’s update will also include an initiative to help the funding for the Ethereum ecosystem’s increase beyond the foundation. They define this as: “Encouraging other organizations besides the Foundation to support high-priority projects, and supporting innovative mechanisms for funding, including Gitcoin grants and MolochDAO. Efforts like these give us better leverage from our existing resources, and help build a sustainable path for funding vital projects far into the future.” So with some cryptocurrency projects, they will usually creep around the problem that is decentralisation. But the Ethereum Foundation claims that it is a benefit to the currency and potential voice of authority. In writing to investors, the Foundation has said: “We understand that many look to the Foundation as a valued voice even as we move to proactively empower others. That voice is a resource that can be used effectively to advance Ethereum. We are able to, for instance, bring attention to important but relatively unknown projects, share valuable information about Ethereum’s progress with the public, and encourage the growth of regional Ethereum communities.” The Foundation went on to say that they are going to be more involved with the Ethereum community in the future saying: “moving forward, expect the Ethereum Foundation to be a more active voice in the Ethereum community.” This year's update shows us an increase for on-boarding developers and improving the developer experience as two potential in-roads for the Ethereum Foundation to tackle over the next 12 months. With the 2.0 update coming soon, things are looking interesting at Ethereum. “Ethereum remains a highly ambitious technical project, and significant resources are required to fund the R&D that will realize the Ethereum community’s ambitions. Critical work is underway across the ecosystem on active engineering projects like ETH 2.0, and on more long-term investments like growing the academic community’s involvement in Ethereum technology.”
Following regulatory approval, Grayscale’s third cryptocurrency trust is about to hit the retail market
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The European Central Bank (ECB) has published a report on digital assets. The document states that cryptocurrencies do not pose a threat to the EU economy. According to the staff of the ECB, the security of virtual currencies is due to three main reasons: The market share of virtual currencies in the financial system is relatively small; interaction between the crypto industry and other sectors of the economy is limited; European banks store a small number of assets in virtual currencies. The Central Bank believes that cryptocurrencies do not perform the function of money, because a small number of commercial enterprises accept it as payment. Thus, Bitcoin (BTC) and other coins do not have a significant impact on monetary policy and the economy. The report says that virtual currencies cannot replace fiat currency, because: their turnover is not regulated by the central bank; the asset rate is subject to a high level of volatility; business does not want to sell goods and services for virtual coins. Employees of the ECB are confident that the value of digital assets can be stabilized if they are provided with reserves of the central bank. However, in this case, cryptocurrencies will lose their attractiveness for traders and the volume of trade will decrease significantly. Read more on the topic: EU International Association of Trusted Blockchain Application has Started its Work The bank does not plan to issue its own virtual currency, however, it is ready to study the crypto industry and its potential. In the near future, digital assets will not be integrated into the infrastructure of the European financial market due to the fact that they cannot be used during the conclusion of transactions. Cryptocurrency is not a security issued by a central depositary authority, so it is not suitable for mutual settlements between participants in commercial transactions. This disadvantage can be eliminated if the virtual currency is issued by the ECB, however, this will require additional costs and will not bring any benefits. The European Central Bank’s verdict is as follows: cryptocurrencies are useless for the global financial system and do not threaten the security of the economy due to the low level of capitalization. We want to remind you: SEC to Hold Fintech Forum, Where They Will Discuss The Regulation of Cryptocurrency Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/
Knowledge is power. This is, according to the old adage, a fact of life stretching back thousands of years that remains a constant in societies as we know them. And in the eyes of many, power today is more concentrated than ever in the hands of the richest corporations and nations. So what does this mean for models of artificial intelligence which literally feed and grow from knowledge, recorded in the form of data? Society in the present day favors those at the top because entities are generally expected to act in self-interest. Having power feeds back, pays and helps to further consolidate the position of already powerful. A consequence of this is that advanced AI systems risk becoming a tool of those already at the top. Can we create an AI which acts like it cares? Morality and ethics are more than just buzzwords at Mind AI and Velas. They provide us with a common mission: creating problem-solving machines that can reason for themselves but also take a more nuanced approach than “machine feed, machine do”. Mind is building a framework for reasoning engines, to essentially educate its AI about how to make logical conclusions much in the same way as a human would. The exciting part of our partnership comes with how we plan to achieve this goal. The team at Mind will open-source the project by first building their mainnet on the Velas blockchain. An exclusive sidechain will be responsible for storing data and offer access to the public so they may participate in the AI’s development and growth. Individual ownership of data free of corporate and governmental interest is a critical benefit proffered by blockchain. This is a way to share knowledge and build models of AI that effectively belong to the people, at least in as much as they are owned by anyone. The Velas blockchain is always in flux Mind AI has been a great help in the process of developing Velas, a self-learning and constantly evolving blockchain which ebbs and flows according to the amount of network traffic. Blockchains tend to run at ‘maximum capacity’ all the time but Velas has the ability to create a new block only when required; this could be every two seconds or once in a 2 minute interval. The Artificial Intuition of Velas can also adjust the size of the blocks from a few kilobytes to what is needed, when it is needed. All entirely dependent on the number of users making transactions. If you’re tired of hearing about the Bitcoin block size debate, this may be the technology for you. Mind AI is joining forces with Velas and in turn are being helped to put this exciting project on the Velas blockchain. Our shared vision for artificial intelligence is grounded in a clear idea of who these systems are meant to serve: the people. Together we hope to freely distribute knowledge and power across global communities. With Mind and Velas, the future can be as great and bright and positive as the people choose to make it.
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Several blockchain use cases relevant to the real estate industry have been detailed in a recently released report by the Enterprise Ethereum Alliance
Despite the cryptocurrency prices not looking all that great at this stage, there are still plenty of key developments to look forward to. Especially where Ethereum is concerned, there are a lot of potential upgrades and breakthroughs occurring in the coming few months and years. Both from a short-term and long-term perspective, there is a lot to look forward to. ETH 1.x Scaling While most of the Ethereum developers and community are working on long-term scaling solutions, it is rather evident the near-term needs to be addressed as well. Thankfully, it seems a team of developers is working on offering The post 4 Prominent Ethereum Scaling Projects for 2019 appeared first on The Merkle Hash.
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