💱 Oct. 03, 2018: TD Ameritrade Launches ETH, BTC, LTC and BCH Futures, Coinbase has Become Highly Criticized From the Media's Side, and other news
📌 TD Ameritrade launches Ethereum futures
TD Ameritrade opens the futures market named ErisX to integrate the Ethereum, Bitcoin Cash and Litecoin products
TD Ameritrade is launching the integrated futures market ErisX*, to present not only a Bitcoin, but also Ethereum, Bitcoin Cash and Litecoin derivatives products
ErisX* - is the regulated exchange that provides cryptocurrency derivatives.
“In our opinion there is no lack of interest in building out markets for people wishing to trade digital assets and there is plenty of space for people to come in with a regulated exchange and clearing house.”
The launch of alternative crypto-based product for Ethereum has been expected for a long time. The beginning of this month, as it seems, has already provided us with quite important news, so the market worth to be observed for at least the next 2 months.
📌 IBM Has Received a Patent for Secure Blockchain System
The new data security system based on the blockchain helps to register suspicious events in the network infrastructure by detecting intruders
IBM, the leader by the number of blockchain patents in the United States, has registered a new security solution. The technology involves storing information about the state of the data system in the blockchain.
One of the problems of illegal entry into the secured systems is that attackers often delete data about their presence so all traces disappear. Silent attacks are discovered after a time when companies have to face the consequences - financial, technological, etc.
Blockchain makes it able for a party to register all data so information simply can't be changed over time. This is the basic principle of how the new IBM monitor system works, and, probably, the simplicity of the solution may find great popularity among corporate networks.
📌 JPMorgan Points Blockchain as a Part of its "Future Digital Transformation"
JP Morgan wants to use blockchain and other modern technologies to be the first among its competitors. The investment flow amounts to millions of dollars
The latest report called "The Digital Transformation and Fintech Strategies of JPMorgan Chase" presents strategies and initiatives for digital transformation at JPMorgan, which would affect the entire structure of the company and help it to become a leader in the financial services market.
As a part of its digital transformation roadmap, JPMorgan intends to open or continue work in such areas as blockchain, big data, cloud technologies, AI and robotics. By the way, this is not an empty ground for the company, because the giant has already allocated $10.8 billion for technological expenses in 2018, and more than 5 billion of which were invested in fintech.
The company will also pay attention and develop areas such as partnerships and synergies between other divisions and projects. It is possible that over the next year, Morgan will present more blockchain products for inner use or for the commercial release.
📌 Coinbase Presents Solution for Improving Bitcoin Transactions
The new mechanism called Child Pays for Parent (CPFP) helps reduce Bitcoin transaction costs by connecting parent and subsidiary transfers
Coinbase reveals the new technology of improving Bitcoin use, noticing that "sending cryptocurrency today can be difficult". Complaining about facts such as poor user experience, and long transactions processing, the company intends to introduce Child Pays for Parent (CPFP), which is also based on the economic incentives, to improve the confirmation time of transactions.
>«The Bitcoin protocol does not allow for a child transaction to be included in a block before its parent transactions have been added […] [but' we’ll broadcast and pay for a child transaction at a sufficient fee rate in order to rescue the parent transaction (we actually batch these so that we can rescue multiple parents with one child)».
The process begins without involving the end user.
The CPFP principle eliminates the problems of how the mining fee works and how the transaction is eventually confirmed. The new tool performs a stalled Bitcoin transaction (at a too low rate) with a subsidiary transaction in order to offer a higher fee by using an economic incentive. It makes it able to reduce the "child" transaction linked to the original "parent" tx., completing it before the main transaction and reducing time costs.
📌 Media Have Clashed During the Discussion of Coinbase
The Financial Times has criticized the recent Fortune`s article «Coinbase wants to be too big to fail» in order to remind that future exchange's status is not so far from banking chain, probably aiming the promotion writing
The Financial Times has criticized the recent Fortune`s article called "Coinbase wants to be too big to fail". But most importantly, the emphasis is placed on the fact that Coinbase is practically the only regulating player in the market, who, nevertheless, surpasses banks, governments - the entire traditional financial structure.
After, Financial Times notes that, according to the Fortune's logic, banks and all other institutions (highly criticized by most of the crypto enthusiasts) should not exist, but the crypto market still needs third parties that act just like the banking system. Today, we understand that the market is largely controlled by the exchanges, for example, Coinbase itself, but we also realize that it can exist almost independently.
Read the report by yourself to evaluate the author's arguments (we're already making the review on review, so, to avoid the recursion). The cryptocurrency exchanges, in spite of their rather broad functionality sometimes, are still resellers, third parties, and this is the simplest business architecture. Not so far from banks, so it is predictable that the controversy began.
