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Grayscale Bitcoin Trust Is Screwing Retail (and Institutions) on Fees

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Source: https://cryptobriefing.com/grayscale-bitcoin-trust-screwing-retail-institutions-fees/

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Recently-appointed Blockchain Australia CEO elaborates on the future for blockchain

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Steve Vallas, who was appointed to the top spot this month, speaks about the importance of revamping the perception of blockchain, its utility in the post-pandemic world, and more

Blockchain Australia, the end to end Blockchain Consulting and Technology company, recently appointed Steve Vallas as their Chief Operating Officer (CEO). In an interview with Coin Telegraph, the newly-appointed CEO explained his vision for the future of Blockchain Australia and the future direction of the industry.

Vallas said that building up public confidence in blockchain and improving the image of the technology among businesses and governments across the world topped his to-do list.

Steve Vallas replaces Nick Giurietto, who led Blockchain Australia for the last five years in the top spot. Vallas, who is a qualified lawyer and blockchain technology strategist, has worked as an industry coach and mentor for multiple universities and accelerator programs.

He is also the founder of the Australian marketing firm Honey Digital. Vallas has previously been part of the advisory team for governments on blockchain technology.

His main focus will be in improving the confidence of key industry leaders on blockchain technology by presenting it as a stable and well-developed solution. “It comes down to people’s definition of blockchain. Their views were formed during the 2017 period where a lot of scams and [poorly planned] projects failed,” he stated.

Vallas elaborated that blockchain is often considered synonymous with cryptocurrencies, but the use of the technology across different sectors is difficult to explain. Even today, many don’t understand how blockchain can benefit the supply chain, retail or legal sectors.

The pandemic presents a unique opportunity for the blockchain sector and the industry must take full advantage of it, Vallas claimed. He said that, “it [COVID-19] has highlighted the flaws in current systems” and the need to keep systems running without the constant need for human intervention.

Disruption in supply chains over the past few months has led organisations to be open to unorthodox solutions. Blockchain Australia must seize the opportunity to contribute to a post-pandemic future, he added.

The Australian Ministry for Industry, Science, Energy, and Resources, formulated a national strategy for capturing the potential of blockchain engagement in businesses called the National Blockchain Roadmap, earlier this year.

Vallas said that he aims to bring industry leaders, government officials, and other relevant parties to the same page with the new initiative. He added that the National Blockchain Project is viewed as a clear indication that the government is willing to work with blockchain leaders to develop a sustainable plan.

Source: https://coinjournal.net/news/recently-appointed-blockchain-australia-ceo-elaborates-on-the-future-for-blockchain/

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HitHub Releases Global Blockchain Open-Source Node Program; IOST Is The First Partner

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The globally reputed coworking organization of autonomous developers, HitHub has proudly announced the addition of IOST as the first strategic partner of its highly anticipated project, the Global Blockchain Open-source Node Program. HitHub works as a popular decentralized incentive group for developers, which strives to cater to the prevailing limitations in the industry. The official Twitter post by the IOST team read:

As per the official blog post, HitHub’s newly launched initiative has been designed with an objective to strengthen the open-source ecosystem. It strives to present valuable and innovative solutions to the multiple challenges faced by the developer community regarding product security management, time value delivery, quick implementation, capability assessment, and proprietary validation, etc.

With aid from the IOST team, HitHub will migrate and copy codes, impose custodial scrutiny on HitHub along with necessary guidance in creating public chain networks using IOST’s technological expertise. The code custodial on HitHub will be stored and managed on decentralized frameworks like IPFS, unlike GitHub, which relies on centralization. The use of decentralized technology will offer enhanced security, transparency, and reliability to the portal users.

IOST is a renowned blockchain network that characterizes in maintaining scalability, decentralization, and security in a well-balanced manner. It will enrich the HitHub community with technical consulting, guidance, and support on various topics such as how to sustain scalability while restraining the wide gap caused by the censorship evasion. The participating teams will put in joint efforts to strengthen and redefine the IPFS decentralized storage mechanism, cross-chain proprietary verification, etc.

HitHub provides token incentives to the contributors who give in their inputs in the content making and overall technological advancement of the network. The usage of smart contracts and decentralized storage pedagogy like IPFS, HitHub strives to chalk out potent solutions for an enhanced code-custody module, copyright protection, and value bearer. It strives for the developer community’s upliftment by offering a revolutionary infrastructure to design a fair market of developers’ products. This lays the foundation of a transparent credit network for developers, which characterizes as a community of developers, by developers, and for developers. The developers can access Hit Network by downloading HitHub and connecting to back-up servers supported by the team. HitHub provides a web page platform HitHub to ease the HitHub protocol application process and offers cloud services to the users.

On the other hand, IOST’s Node Program is a popular staking program applauded by various blockchain research entities. It offers lucrative returns, easy usage, and low-risk factor.

Source: https://www.cryptonewsz.com/hithub-releases-global-blockchain-open-source-node-program/

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Bitcoin’s decoupling and reduced correlation enable small-cap asset rally

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The world of finance was shaken on March 12 when the markets started to realize the impact of COVID-19. Before the Black Swan event that engulfed most profits in the market, the cryptocurrency market had been rallying. Bitcoin, the largest digital asset that shares a strong correlation with most cryptocurrencies in the market. When the largest asset crashed, the plunge witnessed by other assets was also brutal. However, as the first half of 2020 ended with June, the dynamics in the market have flipped.

As Q1 painted a bloody picture across the crypto market, Q2 began with the excitement about the new developments and recovery set in the market. Up until May, the entire crypto market climbed steadily at a highly correlated growth rate. However, as May came to an end, only small-cap assets managed to keep up with the momentum. According to a report by Arcane, the small-cap assets rallied throughout Q2 and managed to gain 112%. Whereas the mid-cap assets maintained 50% growth, followed by Bitcoin at 44%, and lastly by other large-cap assets by 40%.

Q1 and Q2 brought different events in the market and the reaction from the market was at two extremes. As the first half culminated, the small-cap assets emerged winners with 141% growth, while mid-cap assets remained at 54%. The large-cap assets reported growth of just 29% and BTC could manage to report a growth of 27%.

The small-cap assets have managed to outperform not only Bitcoin but other indices too. This was due to the decoupling of small-cap assets from the rest of the market. The driving factors for coins like OmiseGo, Theta Token, and Icon were news about its development and even its listing on prominent exchanges. However, for the large-cap assets, the investors were too occupied by the imminent pressure in the bitcoin market.

The correlation between the small-cap assets and Bitcoin has also been weakening. Small-cap asset, OmiseGo’s [OMG] correlation with BTC peaked in May 2020 at 0.8895 and currently stands at 0.7256. Thus, the small-cap assets were rallying independent of the ups and downs in the bitcoin market.

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Source: https://eng.ambcrypto.com/bitcoins-decoupling-and-reduced-correlation-enable-small-cap-asset-rally

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