Crypto Summary - Episode 1 by eCoin4dummies

Your Weekly Crypto Summary – Ep 1

The last week in the crypto-world has been a little exciting and shows some promising news as well. That said, let's quickly jump into this week's crypto summary highlights:

Crypto Summary Highlights

  • U.S. Commodities Futures Trading Commission (CFTC) gives a green flag for the Bitcoin Futures
  • Mixin messenger gains popularity as the crypto-world’s answer to Instant Messaging
  • Tired of USDT? The alternative is the crypto-backed DAI stablecoin
  • Bitcoin Private – A forged mix of Bitcoin and Zcash
  • The Venezuelan state cryptocurrency ‘Petro’ is now available on the market

The Intercontinental Exchange (ICE) will be allowing the trading of Bakkt Bitcoin (USD) Daily Futures Contract. The initiative is likely to see the daylight by 12 Dec.

And Binance exchange started working with Chainalysis, a company that analyses blockchain transactions, to tighten their Anti-Money Laundering system. So, the crypto world is about to overcome its state of being a safe-haven for money launderers.

Mixin messenger uses signal protocol—a messaging protocol also used by WhatsApp messenger—and lets anyone signup with just a phone number. Moreover, the Mixin messenger supports a lot of cryptocurrencies. And you can send crypto directly to phone numbers.

DAI is a stablecoin whose value stays relative to the US Dollar. And it helps to put your crypto holdings into day-to-day usage without losing ownership. Anyone can obtain DAI by putting cryptocurrencies as collateral. Right now, only Ether (ETH) is accepted as collateral.

Bitcoin Private (BTCP) is yet another cryptocurrency but not a fork of Bitcoin. Rather Bitcoin Private is a fork of Zcash. And it implements the best of both Bitcoin and Zcash worlds. However, 20% of the mining reward is being taken as founder’s fee, a highly questionable practice in the crypto world.

At last, the oil reserves backed Venezuelan state initiative ‘Petro’ cryptocurrency is now available for sale through the government's web portal. And it is available to purchase with Bitcoin and Litecoin.

So, would you be exchanging your Bitcoin for Petro? A question many would not even consider.

What do you think? any topics on our crypto summary which you find interesting? Comment below.

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