TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Facebook rebrands its Calibra wallet service to Novi. Bitcoin.com to launch email cryptocurrency wallets. BTC hashrate keeps falling after block reward halving. ERC-20 tether transactions breaking transaction volume records. People’s Bank of China declares digital yuan has no official timetable yet, and Bitwage rolls 401(k) plans with Gemini.
Facebook Libra Rebrands to Novi
Libra, the cryptocurrency project created by Facebook, will rebrand its wallet services to Novi. David Marcus, co-creator of Libra, declared this rebrand would allow them to clear the confusion about its former name and function. Novi comes from the combination of two Latin words, novus meaning new, and via meaning way. Marcus stressed the Novi wallet would allow users to manage the different Libra currencies, underlying the change Libra made in its design by introducing several stablecoins instead of just one.
Bitcoin.com to Launch Email Cryptocurrency Wallets
Roger Ver, Founder of Bitcoin.com, announced the launch of a new service in their line of products: Mail accounts to allow users to send Bitcoin Cash (BCH) via email. The announcement was made by Ver on Reddit when he answered positively to a suggestion made by Egon, a popular Redditor. Ver answered, “Ask and you shall receive. One of our rockstar developers should have this ready for the world by some time next week.” This would allow non-tech savvy users to get started with BCH more easily.
BTC Hashrate Keeps Falling After Mining Reward Halving
The BTC hashrate, the amount of work securing the network to verify blockchain operations, experienced a heavy drop recently. While it showed some uptick immediately after the reward halving, it has now gone down to the lowest numbers this year. Some of the hardware dedicated to mining could have been discontinued for not being economically viable, or miners might have decided to migrate to other profitable blockchains. The next difficulty adjustment will offer a clearer picture of the mining panorama for the future.
Ethereum Based Tether Transactions Booming
Ethereum has become one of the most used blockchains tied with stablecoins, and the numbers last Monday confirm it. ERC-20 Tether (USDT) users broke records and transacted $1.2 billion over more than 200,000 transactions, a testament to the popularity of the USDT stablecoin issued on top of the Ethereum blockchain. The market cap of Tether and its usage have been growing since the start of the year, and these numbers show it could dwarf the amount transacted last year more than $210 billion.
Bank of China States No Timetable for DCEP
The Governor of the People’s Bank of China, Yi Gang, declared they still don’t have an official timetable for the DCEP, also known as the digital yuan. In an interview, Gang explained all of the tests that have been happening regarding the DCEP are “still a routine work in the research and development process, and does not mean that the digital RMB will be officially issued.” Gang stressed there is no official launch date, and that it could be used during the next Winter Olympics to “verify theoretical reliability and system stability.”
Bitwage Rolls Bitcoin 401(k) Plan With Gemini
Bitwage, the cryptocurrency payroll platform, rolled out what they call a “world first” product, a 401(k) platform that will help companies to pass the requirements for meeting the 75% threshold established by the Paycheck Protection Program. This product is a collaboration between Bitwage, Gemini (the exchange owned by the Winklevoss twins), and Leading Retirement Solutions, a retirement services provider. “Our vision includes integrating a cryptocurrency trading engine directly inside of the 401(k) Plan,” declared Bitwage.
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