The Monero community has been gearing up for the network’s hardfork which is scheduled for 30 November, 2019. RandomX, a new proof-of-work algorithm, will be the result of the imminent hard fork. A code freeze was scheduled for 24 October, followed by the release of version 0.15.0.0 on 31 October. It has now been revealed that CLI v0.15.0.0 Carbon Chamaeleon has released on the programmed date. The post read,
“CLI v0.15.0.0 ‘Carbon Chamaeleon’ released! Please be reminded that a user, service, merchant, pool operator, or exchange should run this version (v0.15) in order to be sufficiently prepared for the scheduled protocol upgrade of November 30.”
The Reddit post further recorded guidelines to download the new binaries which suggested that once the latest version is downloaded, resync of blockchain wouldn’t be necessary. Once a user opens the latest version that is v0.15.0.0, it would pick up from where it left off.
With regard to GPG-signed hashes, the network urged users to examine the integrity of binaries by verifying that they were signed in by Fluffypony aka Riccardo Spagni’s GPG key.
Further, the network revealed that GUI v0.15.0.0 is anticipated to be released by next week. Users can also make use of the prune-blockchain tool for pruning. However, all Monero-oriented processes should be closed before using the tool. Additionally, if the blockchain file of users is stored in a non-default directory, they would be required to utilize the
Several exchanges, like KuCoin, have extended their support towards Monero and stated that they would put a hold on XMR deposit services until the network regained stability. However, prominent exchanges like Huobi, Bittrex and many more haven’t rolled out an official response, in spite of the hard fork being just around the corner. The Financial Action Task Force [FATF] recently obligated certain exchanges to record and disclose information pertaining to transactions. Following this, several exchanges delisted prominent privacy coins since their usage hinders the fundamentals of privacy coins.
While the community awaits the hard fork, the altcoin was seen trading at $63.57, with a 2.27% price increase over the last 24 hours.
Rich Millennials Have a Large Chunk of Their Wealth in Crypto: CNBC Survey
Nearly half of the young investors with at least $1 million in their portfolio responded that they had located a large share of their funds in cryptocurrencies. Older generations, though, prefer fiat money.
Crypto Is a Trend among The Millennials
According to a CNBC survey with 750 participants, almost 50% of millennial millionaires have invested at least 1/4 of their wealth in cryptocurrencies. In comparison, more than 30% of them have located at least half of their assets in crypto. The company, which conducted the analysis, was Spectrum Group. Its president – George Walper – explained why the younger generations find the market so tempting:
”The younger investors jumped on it early when it was not as well know. They were more intellectually engaged with the idea even though it was new.”
On the other hand, the majority of older investors owning at least $1 million are not fond of digital assets as 83% of them do not believe in the crypto market and have none of their wealth in it. As a matter of fact, only 1 in every 10 keeps more than 10% of their funds in cryptocurrencies:
”Older investors and the boomers were largely saying ‘Is this legit?’ Older generations are further behind on the understanding.”
In addition, nearly half of millennial millionaires revealed owning NFTs while 40% consider it as a future option. Interestingly, most survey participants were not familiar with what exactly non-fungible tokens are, but they still described them as ”the next big thing.”
14% of Americans Own Crypto
At the end of April, the Winklevoss-run crypto exchange Gemini conducted another survey indicating that roughly 14% of US citizens had purchased digital assets. Two-thirds of the respondents classified themselves as ”crypto curious” while 23 went into the “disinterested” graph.
Somewhat expectedly, bitcoin (BTC) has remained the most popular cryptocurrency as nearly all questioned people (95%) answered that they are familiar with it. 87% of those who have invested said that BTC is what they own. The Americans showed good knowledge of altcoins too, as 36% have put some of their wealth in ether (ETH), 22% in Bitcoin Cash (BCH), and 16% in Litecoin (LTC).
Like the CNBC survey, Gemini found out that most crypto investors are young people between 25 and 44. According to the collected data, the trading venue noted that ”the ”average” cryptocurrency owner is a 38-year-old male making approximately $111K a year.”
Texas Banks Can Now Provide Bitcoin Custody Services For Clients
With the recent increase in Bitcoin adoption, the Texas Department of Banking has confirmed that Texas state-chartered banks will now be allowed to store BTC and other cryptocurrencies for their clients.
Texas Banks to Hold Bitcoin
In an official notice issued Friday, the regulator noted that state-chartered banks can provide crypto-related services to their clients as long as they have “adequate protocols in place to effectively manage the risks and comply with applicable law.”
The financial agency also explained that since these digital currencies exist on the blockchain, holders will have to access them using private keys.
As a result, banks can either store clients’ private keys for them or hold the crypto assets in the bank’s custody, with total control over its new private keys. Whichever way, the decision is entirely up to the bank.
“As with the method of custody services, several secure storage options are available to the bank, each of which has distinctive characteristics pertaining to the level of security and accessibility. The bank will have to determine which storage option best fits the circumstances.”
Banks Can Partner Crypto Exchanges
The agency also stated that the bank needs to confirm the existence of adequate coverage with its insurance carrier to guarantee the safety of clients’ crypto assets.
To be on the safe side, banks are advised to seek professional knowledge of the risks associated with dealing with cryptocurrencies.
The Texas Department of Banking also said that banks can partner with cryptocurrency exchanges to help them provide these services to their clients.
While crypto businesses might see this as a new and welcome development, the agency noted that it is not entirely new within its department.
“Texas state-chartered banks have long provided their customers with safekeeping and custody services for a variety of assets,” the regulator wrote.
“While custody and safekeeping of virtual currencies will necessarily differ from that associated with more traditional assets, the Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists pursuant to Texas Finance Code § 32.001.”
Ethereum Co-Founder Anthony Di Iorio Bets Big on the Future of Cardano and Polkadot
Anthony Di Iorio, a Canadian entrepreneur and the co-founder of leading smart contract platform Ethereum, said that he believes in the potential of Cardano (ADA) and Polkadot (DOT).
In an interview with crypto proponent Anthony Pompliano, Di Iorio, who is also the CEO and founder of Canadian blockchain startup Decentral and crypto wallet Jaxx, revealed that he has a diversified investment portfolio featuring several top projects, including Cardano and Polkadot.
A Big Fan of Cardano and Polkadot
“Now I’ve kind of fallen back to just simplicity. I’m in a number of different projects, but the majority of my stuff is in the top projects. I’m a big fan of Polkadot, I’m a big fan of Cardano.”
Di Iorio went on to narrate why he was so sure of the future of these two projects. He had joined the Ethereum development team earlier in 2012 when he met Vitalik Buterin at a Bitcoin conference.
He has formed strong relationships with other co-founders of Ethereum, including Vitalik Buterin, Cardano’s founder Charles Hoskinson, and Polkadot’s current CEO Gavin Wood.
Di Iorio admitted that while he worked with these men, he knew that they were goal-oriented and would help push these projects further.
“Big fan of Charles, let’s say that. You know, taking some different approaches in the way that they’re doing things, much more on the academic side of what he’s done and bringing stuff forward. Real big fan of Gavin Wood… Knowing those guys from the days back at Ethereum – and knowing their drive and knowing their competitiveness and their smarts – I was able to see those projects for the last few years and know that they were gonna get to where they’ve gotten up to.”
Not Getting Lost in DeFi
Despite all the recent hype about DeFi, Di lorio pointed out that he is keeping his investments simple and investing in larger projects.
“Most of my stuff is in the top few things, Ether, Bitcoin, Cardano, Polkadot. I like Cosmos as well. And there’s a few others, but I’m not getting lost in all the DeFi stuff. I just think there’s not enough time, not enough energy. It’s a full-time gig to be running a lot of that stuff and keeping on top of stuff, so I’ve simplified my life quite a bit over the past few years.”
Featured image courtesy of Business Insider
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