The crypto to follow of the week
Compound.finance is a decentralised lending and borrowing place on Ethereum.
In order to decentralise the system as much as possible, a governance token, the COMP, was launched on 15 June.
The value of the platform’s assets under management increased from 100 million dollars to 588 million dollars in one week, surpassing MakerDAO, until then the uncontrollable king.
The current low liquidity on COMP plus the effect of the announcement pushed the price of the token from $30 to $300.
Beware, entry is very risky at these levels, and for the moment there is no mechanism to remunerate investors.
The crypto to forget of the week
The company Factom, which manages the cryptocurrency of the same name, went into receivership bankruptcy because it was unable to pay debts of more than $7 million.
However, the platform’s managers say this will not affect Factom’s assets, which are currently valued at $15 million. This is doubtful.
Paypal goes crypto
Paypal is going to launch into crypto via its subsidiary Venmo.
No official announcement for the moment, but this information comes from several reliable sources.
The services would focus on buying and selling cryptoactives.
Paypal has 325 million users.
40 million for Venmo.
Ubisoft launches Ethereum blockchain
Ubisoft launches its first game on the Ethereum blockchain.
Rabbids Token is a game based on the Rabbids and is very close to the Cryptokitties.
Video game giant Ubisoft has been at the forefront of research on the subject for two years now.
Increased use of blockchain in large companies
An annual survey of the company Deloitte shows a substantial increase in the use of blokchain in large companies.
39% of companies integrate the blockchain into their operations, compared to 23% last year.
55% consider it to be one of the top 5 priorities of their company, and 82% have hired or are preparing to hire blockchain specialists.
News of last week’s Ethereum transactions
News about the two Ethereum transactions that paid $5 million in transaction fees last week.
The shipment came from the wallets of a South Korean peer-to-peer marketplace called Good Cycle.
Which ran what strongly resembled a Ponzi scheme.
An attacker was able to exploit their system and generate transactions from the system owners’ addresses.
He was thus able to empty the wallets by passing the whole thing off as a transaction fee, but without benefiting directly.
Two critical vulnerabilities discovered
Two critical vulnerabilities have been discovered this week: one in the Silver portfolio, and the other on the Bancor protocol.
In both cases, the vulnerabilities had no impact on the funds of the two services, but underline how experimental the services of this industry remain.
ZRX and KNC approved by the MakerDAO community
ZRX (0x Protocol) and KNC (Kyber Network) have been approved by the MakerDAO community to be added as collateral to the system.
Aumentation of the gas unit limit per Ethereum block
Following an increase in the use of the network, the Ethereum miners began a process of increasing the gas unit limit per Ethereum block from 10M to 12.5M.
This would increase the capacity of the Ethereum blockhouse by 25%.
Ethereum currently processes around 13 transactions per second.
The last time the gas limit was increased was in September 2019, when it was decided to increase it from 8M to 10M.
Chinese mining company joins Nasdaq
The Chinese company specializing in Bitcoin Ebang mining will be listed on the Nasdaq later this week.
Ebang aims to raise $106 million by offering 19.3 million shares for sale at a price of $4.50 to $6.50 per share.
It is the second mining company to be listed on a U.S. stock exchange after Canaan in 2019.