Week in crypto, 28/01/19 – 03/02/19

In this weekly feature, Incenti gives a synthesis of the prominent developments in the world of crypto, blockchain gaming and related areas that caught our attention during the previous week.


General crypto news

On its official Twitter account, the Zilliqa team has announced the long-awaited arrival of the mainnet. Zilliqa is the first platform to introduce the sharding on-chain scaling mechanism, and will use a hybrid consensus mechanism.

So far, no major issues have been reported with regard to the launch. If you are really curious about this promising unfolding project, you can consult its block explorer, the post-launch AMA session on Reddit and even the map of miners’ distribution.

As was announced by Van Eck’s digital director Gabor Gurbacs on his Twitter, CBOE, Van Eck and SolidX have resubmitted to the U.S. Securities and Exchange Commission the proposal to change the rules in order to allow a Bitcoin exchange-traded fund (ETF).

As we reported here before, the proposal had previously been temporarily withdrawn for fear that the then ongoing U.S. Federal government shutdown would result in its rejection for purely technical reasons.

According to the press release by the WBTC decentralized autonomous organization (DAO) available on its web-site, it has now launched its Wrapped Bitcoin (WBTC) token on Ethereum. WBTC tokens will be fully backed by Bitcoin and the atomic swap technology will be used to power it.

According to the developers, the introduction of this token will allow Ethereum DApps to leverage the additional liquidity provided by BTC. The token launch is supported by several decentralized exchanges, including Kyber Network, and BitGo as BTC custodian. The token will be immediately usable in several financial DApps.

Blockchain adoption

As DailyHodl reported, Germany’s largest food delivery Lieferando.de that serves around 13,000 restaurants now accepts Bitcoin for online payments. The advantage of this payment method is that Lieferando does not charge any fees from those who use it, while the fee for paying with PayPal or credit cards is 6%.

Regulatory

The US Securities and Exchange Commission (SEC) has so far not met any pushback in its dubious and archaic effort to squeeze almost all digital asset schemes into the Procrustean bed of the securities regulation that dates back to the mid-20th century. This is about to change if the SEC decides to turn its sights on Kik’s KIN token, and Kik may thus render a significant service to a lot of crypto projects.

Specifically, Kik that raised about $100 million in its ICO promised to challenge the potential SEC’s enforcement in court. In their publicly available letter to the agency, Kik claimed that the SEC has mistakenly stretched the statutory definition of a security beyond the original regulatory intent.

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