7 min
FOMO Daily, 1st November 2018 FOMO - Crypto News Digest
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- Business
We will dedicate this show mostly to Ethereum, as the yearly developer conference, Devcon, is happening in Prague, but before we go there, some good news from Korea.
Banking has always been a particular challenge for crypto exchanges. Yesterday, the commissioner of FSC, the Korean equivalent of SEC reaffirmed that as long as cryptocurrency exchanges in the country have adequate AML and KYC systems in place, banks should be able to cater to these companies. So looks like banking problems are gone in Korea. We just wish regulators in other countries would be as sensible as the Korean FSC.
With the pop of the ICO bubble, people started to look at Ethereum almost like a scam. And the competition got much stronger, too. Some of the other projects are really good like Stellar or ICON. Long story short, Ethereum, is not in a great shape. But Ethereum is the absolute cornerstone of the ecosystem, 90% of the top 100 market cap coins depend on it, and Devcon is always a great opportunity to inject some enthusiasm into the community.
Vitalik gave a long-awaited talk about the scaling efforts. He acknowledged Ethereum today is not what Ethereum was meant to be, the world computer, because of the poor scalability. He also acknowledged that many of the efforts to solve the scalability problems were basically dead ends like super-quadratic sharding. Enter Serenity. Serenity is the new name of the next iteration of Ethereum. It's not a new thing, rather a new name for all the scaling efforts which, as it looks like, are finally pointing to one single direction.
We will dedicate this show mostly to Ethereum, as the yearly developer conference, Devcon, is happening in Prague, but before we go there, some good news from Korea.
Banking has always been a particular challenge for crypto exchanges. Yesterday, the commissioner of FSC, the Korean equivalent of SEC reaffirmed that as long as cryptocurrency exchanges in the country have adequate AML and KYC systems in place, banks should be able to cater to these companies. So looks like banking problems are gone in Korea. We just wish regulators in other countries would be as sensible as the Korean FSC.
With the pop of the ICO bubble, people started to look at Ethereum almost like a scam. And the competition got much stronger, too. Some of the other projects are really good like Stellar or ICON. Long story short, Ethereum, is not in a great shape. But Ethereum is the absolute cornerstone of the ecosystem, 90% of the top 100 market cap coins depend on it, and Devcon is always a great opportunity to inject some enthusiasm into the community.
Vitalik gave a long-awaited talk about the scaling efforts. He acknowledged Ethereum today is not what Ethereum was meant to be, the world computer, because of the poor scalability. He also acknowledged that many of the efforts to solve the scalability problems were basically dead ends like super-quadratic sharding. Enter Serenity. Serenity is the new name of the next iteration of Ethereum. It's not a new thing, rather a new name for all the scaling efforts which, as it looks like, are finally pointing to one single direction.
7 min