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Cryptocurrency Week News

News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily information flow, and you miss important points.
This format is there to remedy it: we return to the news of the past week in the Hebdo Crypto , in order to summarize important information and keep you informed of the state of the world of cryptocurrencies.

🔬 The inevitable of the corner

In this week's inevitable, we will come back to the new installment in the blockchain consensus series , proposed by Morgan of KryptoShpère . In this episode, he brings us to the discovery of the Proof Of Elapsed Time consensus mode .Blockchain blockchain 3

SGX chips

Before talking about the method itself, let's go back to its origins. The microchip giant, Intel , developed in 2016 Software Guard Extension (SGX), a tool for creating encrypted “enclaves”. Translation: SGX will create secure and separate areas, where your data will be stored, cannot be modified, and will be encrypted.

Proof of Elapsed Time

The POET has a relatively simple operation, here no need for exorbitant computing power or to send your bitcoins to an address without owner, you just have to… wait.
When you want to participate in a blockchain using POET, you will download the code and send the certificate from SGX to certify that the code you are going to use is the original, used by the other members of the network. Then it works like a lottery : each node is assigned a duration defined randomly by the algorithm . The node that has its countdown ending first will send the proof to the rest of the network, and can then validate the block.
Read the full article for more details: Consensus & blockchain: the proof of elapsed time.

🗞 News in brief

▶  The decentralized loan protocol, MakerDAO, announced the addition of wBTC ( tokenized version of BTC on Ethereum ) as collateral to create DAIs . The possibility of using the BTC to contract loans is a first in the DeFi ecosystem.
▶ Ripple co-founder Jed McCaleb resells his XRP . He is said to have sold approximately 1.8 million XRPs each day during April, for a total amount of $ 11.3 million. 
▶ Investors of the Telegram ICO, forced to accept the reimbursement . The company is forced to reimburse all the investors who participated in its ICO, because the SEC deemed it non-compliant.
▶ The European Central Bank calls for proactive regulation of stablecoins . While recognizing their benefits, the ECB points to systemic risks as well as the lack of confidence in their values.
▶ The BitMEX platform is believed to be causing an increase in fees on Bitcoin . This increase is caused daily when the mechanisms for removing the platform are activated. This results in a 3-fold increase in fees on the Bitcoin network .

📊 The 4 metrics of the week

At 69.4 % , this is  the increase that the stablecoin market experienced in just two months. Thus, the total value of stablecoins in circulation increased from 5.68 to 9.62 billion dollars .


➤ 10 million ,  it is  the number of blocks created on Ethereum since its launch. The symbolic bar was passed on Monday, May 4. Another milestone before the transition to Ethereum 2.0.
➤ 65% is  the share that Chinese miners represent in the global Bitcoin hashrate. Figures from an interactive map produced by a team from the University of Cambridge.
                                          Ranking of countries according to their share in the global Bitcoin hashrate.
➤ 52% is  the share of all bitcoins produced in 2020 which are owned by 2 companies: Grayscale  and CashApp. These two companies are mainly aimed at institutional investors.



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