Plans for Ethereum revealed
Vitalik Buterin talked about Ethereum roadmap, Ukraine launched a stablecoin, and more news in BTCMEX February 17-23 recap.
New details on Ethereum 2.0
In an interview for Cointelegraph, the co-creator of Ethereum Foundation, Vitalik Buterin, shared the companies plans and estimations for Ethereum 2.0.
According to the plan, the first phase of innovations will be launched this year. The network will undergo the transition from the Proo-of-Work to the Proof-of-Stake validation system at the beginning.
Enabling sharding will be the next step to solve the scalability issue without compromising the network’s security and its decentralized nature.
There is a group of participants in the application that will work together to advance the application. However, this will be checked on the Ethereum mainchain, ensuring that security is anchored there. We move almost all the work off the mainchain into the participants application, which are really just regular computers that are not part of the Ethereum chain.Vitalik Buterin
The first Hryvnia backed stablecoin
The first Ukrainian cryptocurrency exchange, Kuna, has launched a stable coin pegged to local fiat currency, the Ukrainian hryvnia (UAH).
The beta version is tested now until March 20. Kuna founder, Michael Chobanian will publicly present the project at the at local industry conference BlockchainUa 2020 in March.
Binance turned to be not licensed
According to financial regulators of Malta, one of the biggest cryptocurrency exchanges, Binance, has never approved to operate in the country. The Malta Financial Services Authority (MFSA) stated that Binance “is not authorized by the MFSA to operate in the crypto currency sphere.”
According to the statement, Binance shoaled not be considered as “Malta-based cryptocurrency firm,” while the exchange “may not fall within the realm of regulatory oversight.” Binance announced it was opening an office in Malta in 2018 after pressure from Japanese regulators forced it to relocate.
The news went viral on Social Media, with a number of cryptocurrency influencers criticizing the exchange and its founder Changpeng Zhao (CZ).
Belgium blacklisted crypto businesses
Belgian regulators, Financial Services and Markets Authority (FSMA) issued a blacklist of cryptocurrency-related websites associated with fraudulent activity. A total of 141 websites offering cryptocurrency-related services are stated not to be in the governmental favor.
Belgium is raising the awareness of the risks associated with investments in crypto after the country’s cryptocurrency investors reported the loss of €2.2 million ($2.5 million) in crypto scams to the in 2018.