Overview of Crypto Events in October |

Overview of Crypto Events in October

In early October, there was a positive trend in the cryptocurrency market. Bitcoin hashrate is growing thanks to miner activity, the number of users of the MetaMask wallet has tripled since last year, while a number of countries are planning to launch a national digital currency (CBDC). There is also negative news, but it does not affect the market so far.

Ex-Chief of Goldman Sachs to lead Block.one

EOS developer Block.one has announced that the former Goldman Sachs technology chief Martin Chavez is joining their leadership team.

Chavez will develop business strategies, take part in management and act as a Block Producer (validator). Any user selected by the EOS token holders through a voting system can become a block producer. Each block producer gets the opportunity to generate blocks, for which they receive a reward from the network in the form of tokens for each confirmed block, as well as for the received votes.

As a reminder, EDC Blockchain is completing the preparation and testing of technical processes for the transition to a decentralized blockchain. As a result, the confirmation of transactions will be carried out by the network participants. Each user will be able to become a validator by deploying their nodes and receiving a reward for the operation of their nodes. Block validators will incentivize continuous increase in network bandwidth as they pay half of the block reward.

TaoTao now owned by SBI Holdings

Japan's largest financial conglomerate SBI Holdings acquired the TaoTao cryptocurrency trading platform, previously owned by the Japanese division of the American company Yahoo. SBI Holdings believes this purchase will help expand in the crypto business. The holdings also operate its own cryptocurrency exchange SBI VC Trade.

China gives away 10 million digital yuan 

As part of testing the Chinese national cryptocurrency, 10 million digital yuan were handed out in Shenzhen. Each of the 50,000 citizens received 200 digital yuan for registering a wallet.

Source: @DoveyWan

Dovey Wan is an American investor, cryptanalyst, trader, founder of Primitive Ventures and a member of the advisory board of CoinDesk. According to published data, users can spend the received funds in 3000+ restaurants, supermarkets, gas stations and other institutions.

In another post, Dovey Wan said that the digital yuan cannot be exchanged for another national currency.

1 million monthly users joins MetaMask

The monthly number of users of the MetaMask wallet for storing and managing Ethereum has exceeded 1 million, as reported on the company's Twitter. This amount increased by 400% compared to last year. The reasons for the growth were the launch of the mobile version, as before there was only a browser extension, as well as access to popular DeFi platforms that offer easy trading through MetaMask integration.

Malaysia recognizes the potential of cryptocurrency

The Shariah Advisory Council of Malaysia said that cryptocurrencies have great potential and their use is not contrary to Islamic law. Despite the fact that transactions with cryptocurrencies are not prohibited in the country, only 2% of the population are aware of this field, as well as permission from regulators is required to legalize cryptocurrency.

Hackers stole 200 BTC from Electrum users

Electrum wallet users lost about $22 million by installing malicious updates that appeared in the form of pop-ups on their devices. Immediately after installation, their funds were transferred to the hacker account.

Spanish Congress receives Bitcoins

All 350 members of Spain's Congress of Deputies received the equivalent of 1 euro in cryptocurrency from the educational blockchain platform Tutellus and Observatorio Blockchain as part of the “Crypto for Congress” initiative. US Congress participants also were sent cryptocurrency last week.

G20 to regulate national cryptocurrencies

Members of the Group of Twenty (G20) have taken an initiative to regulate national cryptocurrencies. According to the document, representatives of the G20 will create a legal framework and technical solutions to simplify operations with national cryptocurrencies. It is necessary to study the risks and test regulatory solutions that will help conduct transactions with new financial instruments. The project will be completed by 2025.

Coinbase makes it easy to convert cryptocurrencies to fiat money

All Coinbase Commerce users will be able to exchange cryptocurrencies for fiat money and stablecoins without directly using the Coinbase exchange. Users will just need to install an official app update after its release.

Coinbase Commerce is a payment service for retailers dedicated to expanding cryptocurrency payment options around the world. With Coinbase Commerce, users can pay for retail purchases with one click.

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