The Chinese project Nervos has introduced its own standard for creating tokens – Simple User Defined Token (SUDT) – as an alternative to the ERC-20 standard. Nervos Director of Product Development Cipher Wang said that the new standard was created in honor of the anniversary of the launch of the Lina mainnet, and now developers can create new cryptocurrencies based on the Nervos blockchain. SUDT is designed to compete with the ERC-20 standard, especially in

According to Beijing journalist Colin Wu, due to the freezing of OTC traders’ accounts, 74% of local miners faced problems paying their electricity bills. Chinese media reported blocking bank accounts and cards used to buy cryptocurrencies back in June. Due to the growing scale of illegal use of digital assets, regulators in China have begun to pay increased attention to over-the-counter (OTC) platforms. The authorities have launched investigations into the owner of the RenrenBit OTC

Research Director of Fidelity Digital Assets has responded to the most frequent criticisms of bitcoin to clarify in the face of increased interest in cryptocurrencies. In a blog post, Fidelity Digital Assets Research Director Ria Bhutoria said she wants to address the ongoing “criticism and misconceptions” about cryptocurrency. This includes questions about bitcoin’s instability to function as a store of value, its ability to act as a means of payment, and sustainability. “Bitcoin volatility is

The Incognito platform has launched a competition to raise awareness of privacy among cryptocurrency users. To receive the main prize of 1 BTC, you must complete an online quest. A cryptocurrency startup has launched a competition that anyone can take part in by downloading the Incognito app. The quest was launched on November 12, and users will have to solve 17 clues, each of which gives a chance to win one of the prizes, including

The international cryptocurrency exchange CEX.IO has become one of the exclusive platforms for staking the ZIL token. The service allows users to make money on ZIL staking, which network operates on a proof of stake consensus. Staking is done on the CEX.IO node and is fully automated. ZIL tokens delegated by exchange users from their accounts at CEX.IO participate in staking. In a short time, 2 billion ZIL were delegated, which showed a high interest

According to analysts at Deutsche Bank, government cryptocurrencies will replace cash. Central bank digital currencies can also eliminate intermediaries in the banking system, which will have serious consequences. In a report released this week, Deutsche Bank analysts listed economic assessments and proposals to help the global economies hit by the COVID-19 pandemic. The report, which contains sections related to protecting the environment and protecting small businesses, also discusses the transition to digital currencies, including government

Cybersecurity services company CertiK has announced the launch of an automated QuickScan tool to detect vulnerabilities in smart contracts. CertiK COO Daryl Hok said the QuickScan toolkit is designed to improve the analysis performed by CertiK Chain’s security oracles. QuickScan checks the involved smart contracts for known vulnerabilities using static and dynamic analysis methods. In particular, the bytecode, source code and access parameters of each smart contract are checked. With this tool, analysis can be

A group of US Democratic lawmakers have criticized the Office of the Comptroller of the Currency (OCC) for over-focusing the crypto industry amid the pandemic and economic crisis. The Democrats have released a letter addressed to US Foreign Exchange Controller Brian Brooks, who previously served as director of legal affairs for cryptocurrency exchange Coinbase. The OSS is “accused” of making unilateral decisions regarding stablecoins and other digital assets. In their address, representatives of the Democratic

Argentine Congressman Ignacio Torres has prepared a bill to regulate the cryptocurrency industry. It will be presented to the Argentine parliament next week. Efraín Barraza, COO of the Argentine branch of the Athena Bitcoin ATM network, and Alberto Vega, CEO of Bithan, took part in the preparation of the bill. They noted the need to create clear legal regulation of blockchain and cryptocurrencies in Argentina, given that other countries have long been tackling this issue.

Specialists of the US Federal Reserve (FRS) analyzed various studies of digital currencies of the Central Bank and published a report on the results. According to a report by FRS researchers, before launching the digital dollar, it is necessary to give a clear answer to the most important question: will the state cryptocurrency become a full-fledged replacement for fiat money and bank deposits? It does not matter who will issue the digital dollar – a