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Ten blockchains and exchanges,Forbes: Top 10 predictions in blockchain and encryption in 2020

Time : 14/07/2022 Author : m0rc48 Click : + -
        The article said that 2019 was an extraordinary year for the blockchain and encryption fields. We have seen the birth of new alliances, the emergence of new cryptocurrency trading products, the survival of bitcoin and Ethereum in the cold winter of encryption, and the maturity and expansion of a large number of blockchain protocols. The central banks of many countries have begun to pay close attention to blockchain and digital assets. China has been active in the field of blockchain and cryptocurrency, because some of the largest cryptocurrency exchanges are from China, and China is also the largest crypto mining country. After China's top leaders support blockchain technology, this will lead to large-scale investment and research in the blockchain field.
        One of the main goals that China is pursuing is the digital currency program, which will be launched in 2020. Facebook's payment network plan has been slow to progress under the strong obstruction of regulators in the United States and Europe. Their GitHub code is undergoing regular development submission activities. Libra may be launched in a certain jurisdiction and only supports limited functions. It will not become a means of payment as originally promised, but it will continue to develop. Whether the US Securities and Exchange Commission (SEC) will approve several bitcoin ETF applications is the focus of attention in 2019. So far, the SEC has rejected all applications because the market is not adequately regulated and may be subject to price manipulation.
        Another reason for the failure of bitcoin ETF may be Brad Sherman's recent appointment as chairman of the Subcommittee on investor protection, entrepreneurship and capital markets, which actually supervises industry self regulatory organizations such as SEC and FINRA. He does not know about bitcoin and cryptocurrency. The trend we have seen in the past few years is that the issuer is tokenizing the fiat currency and using it in the transactions of cryptocurrency exchanges. This trend will continue in 2020. We will see an increase in the application rate of stable coins supported by fiat currencies and will be driven by exchange transactions. At present, various applications on the defi ecosystem have reached 290 million US dollars.
        This figure is mainly attributed to the growth of makerdao and Dai stable coins. In the past, the number of centralized exchanges and loan applications has also been growing. Open ended finance is also very popular in the field of venture capital (VC), and this trend will continue. The team of customers and components responsible for developing the new Ethereum 2.0 blockchain listened to the feedback of the Ethereum ecosystem and began to become more active in sharing updates and progress. This brings more confidence to the improved new Ethereum blockchain. So far, everything has made good progress, and the attitude of some products delivered according to its route is optimistic. Lightning network is a 2-layer implementation on top of bitcoin network, which can provide real-time bitcoin transactions and payments.
        By using off chain data and reducing transaction costs, it greatly improves the bitcoin transaction speed. In 2020, we will see an increase in the number of applications, nodes and channels created on the layer 2 network. Ernst & young and other companies are investing heavily in the privacy tool of the Ethereum public ecosystem. The product named nightfall is a good example, which shows that one day all enterprises will use the public main network to conduct transactions with sufficient privacy and comfort. In 2020, we will see more zero knowledge (zk) and multi-party computing (MPC) projects gradually mature and enter the blockchain field. If venture capital of start-ups is regarded as the measurement standard, MPC should be the first hot area.
        As for the Oracle project, we hope that chainlink will continue to maintain a strong partnership and integrate with new services. With the migration of hyperledger besu, a local Ethereum client developed by Pegasys, to the hyperledger program of the Linux foundation, we see an obvious sign that the licensed blockchain will continue to integrate. The differences between major blockchain protocols such as quorum, besu, fabric and corda are still obvious, but there are still ways to make different protocols cooperate and study how assets on different chains coexist.
        In 2019, we saw the deployment of multi cloud blockchain, so it is likely to see successful cross block chain applications in 2020. Wyoming has laid the foundation for a digital asset and digital bank friendly regulatory system. By dividing digital assets into three different categories, Wyoming is explaining the difference between virtual currency and digital securities, all of which are regarded as intangible personal property. However, the blockchain work in Wyoming has not attracted people's attention because Colorado, New Mexico and Arizona are also studying similar legislative work.
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