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  • Looking Back at 5 Years of Proof of Work

    Our latest report reviews the performance of Ethereum’s consensus mechanism since 2015 and looks ahead to Ethereum 2.0’s Proof of Stake.Proof of Work has upheld the Ethereum ecosystem since its launch in 2015. Since then, a number of on- and off-chain events-including security events, network upgrades, and market forces-have influenced how miners and mining pools have interacted with the network.A visualization of the funds flowing from mining pools on the Ethereum network.Historically, mining d… … More

  • Price Discovery in the Bitcoin Spot & Derivatives Markets

    by Luisa Eguren, Bryan Fondufe, Caleb Hogan and Claire MatthewsIntroductionAs four first year MBA students at the MIT Sloan School of Management, we worked with the Fidelity Center for Applied Technology to determine the nexus of price discovery between the bitcoin spot and derivatives markets as part of Blockchain Lab, an action-learning lab offered by MIT. To answer this question, we performed field research with individuals both in traditional financial markets and in crypto markets, as well … … More

  • W3BCLOUD Raises $20.5 Million to Roll Out Data Centers for the Blockchain Economy

    The joint venture between Advanced Micro Devices (NASDAQ: AMD) and ConsenSys gears up to operate its first Ethereum blockchain data centers.W3BCLOUD, a joint venture between Advanced Micro Devices (NASDAQ: AMD) and ConsenSys, announced today that it has completed its initial close of $20.5M in convertible notes from Advanced Micro Devices (NASDAQ: AMD) and ConsenSys, along with several family offices in the United Arab Emirates. With this first round of funding, W3BCLOUD will ramp and operate it… … More

  • ConsenSys Codefi Announces Ethereum 2.0 Staking Pilot Program With Six Members

    Binance,, DARMA Capital, Huobi Wallet, Matrixport, and Trustology join Codefi Staking Pilot Program, gain early access to Ethereum 2.0 staking solutionConsenSys Codefi is launching an Ethereum 2.0 staking-as-a-service platform with institutional functionality for exchanges, custodians, funds, wallets and other potential customers. Last week, Codefi revealed its first batch of Pilot Program participants, designed to incorporate feedback and feature requests while designing and building… … More

  • dYdX Adds USDT Support Using Curve for Bitcoin Perpetual Futures

    dYdX – an industry-leading derivatives DEX – has added support for USDT in their highly acclaimed permissionless Bitcoin Perpetual Futures. 1/ NEW: USDT deposits & withdrawals are now live on the dYdX BTC Perpetual.
    Effective today, we are also renaming the Perpetual Market to BTC-USD.
    Under the hood, USDC will continue to be held as the margin/settlement asset for the BTC Perpetual.
    — dYdX (@dydxprotocol) June 17, 2020 Fo… … More

  • The Economics of Eth2

    An investor at an endowment recently said to me “I believe in BTC as digital gold, but I don’t understand what gives ETH long term value? Unlike a business, there’s no underlying cash flow. Throughout history when an asset is worth billions of dollars in total market cap with no fundamentals underlying it, it eventually crashes. This must be the likely outcome for ETH.”Many traditional investors share that sentiment. They now believe the investment case for BTC but they don’t understand the ETH … … More

  • A Data Dive Into Blockchain Insurance Platforms

    Codefi Data analyzes the on-chain performance of Opyn, one of the leading Ethereum insurance platforms.Opyn Insurance, which launched in February 2020, is an Ethereum insurance protocol providing protection for DeFi users and ETH speculators. Opyn’s existing products let users buy or sell protection for Compound deposits (USDC and DAI) and hedge against ETH price volatility by either buying or selling ETH protection.Data shows that at least 35 options have been created for the ETH price hedge ma… … More

  • How expensive are Bitcoin options?

    Pre and post Crypto Black Thursday analysisIntroductionBitcoin options traded volumes have been steady since 2019. On Deribit alone, ฿2,511 worth of quarterly options (March, June, September, and December contracts) have traded over the first five months of 2020 (Figure 1). The beginning of the year has been busy in terms of market moving events generating large spikes in volatility, raising the level of interest for derivatives, be it to hedge positions or to take advantage of the high volatili… … More

  • How Infura Helps Uniswap Meet Their Interface’s Data Demands

    Behind the scenes of one of the most active DeFi protocols in the Ethereum ecosystem.Cryptocurrency exchanges and token swaps usually require buyers and sellers to create liquidity. Uniswap is a protocol built on the Ethereum blockchain that helps solve decentralized exchanges’ liquidity problem by creating these token swap markets automatically. The protocol pools token liquidity on-chain in smart contracts so that DeFi users can make trades against the reserves at any time. In terms of daily t… … More

  • Ethereum by the Numbers — May 2020

    Ethereum by the Numbers — May 2020The latest stats about blockchain adoption, DeFi activity, Ethereum 2.0 milestones, and more.May was another active month across the stack for the Ethereum community. After running the numbers, here are our three big takeaways: 1) With 430M+ monthly active users, Reddit is poised to become a major blockchain onramp with the rollout of its new Ethereum-based pilot program for a reputation system. 2) Recent security incidents in the DeFi space emphasize the need f… … More

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