Today in the crypto space – Tezos baking could spark new opportunities in the space, Augur is hit hard by U.S. elections, PwC looks to bring clarity to stablecoins, possible Apple podcast censorship, and another Novogratz prediction. Take a further look at today’s action!
On Tezos Baking And Why Crypto Staking Will Become Big Business In 2019
Notable project Tezos has seen its fair share of hype, as well as difficulties since their ICO last year. Tezos utilizes a Proof-of-Stake (PoS) consensus mechanism. This is different than the Proof-of-Work tech. (PoW) seen in Bitcoin and others. PoS allows coin holders to contribute to the network by holding said coins in a specified wallet, and “staking”.
“Tezos is a project which originated in France, a country famous for its baked goods. Consequently, the Tezos coins are grouped into ‘rolls’ for the staking rights selection process, and that’s why the term ‘baking’ became a natural fit”, explains Crypto Insider.
Baking could also prove to be even more eco-friendly. Crypto Insider describes that baking could be of significant interest for the coming 2019.
U.S. Elections Push Augur’s Total Ether Bets Over $2 Million
The U.S. is buzzing today with voters flocking to the polls to get their votes in. This has lead to a surge in action in the crypto world, via Augur.
Augur is a platform for people to make predictions. “Augur is a decentralized oracle and peer to peer protocol for prediction markets.”, according to Augur’s website.
Significant money has been staked as the public votes today for the U.S. Midterm elections. CoinDesk reports that “[t]he market for ‘Which party will control the House after 2018 U.S. Midterm Election?’ has 3,517 ether or nearly $727,000 staked on it at the time of writing, according to Predictions”.
PwC Is Advising (Not Auditing) Another Stablecoin Project
Stablecoins continue to make headlines as they fight for market dominance. One main fear until this point has been Tether (USDT) solvency. Today sees PwC (Hong Kong branch for accounting and consulting), along with Loopring, diving into applicable guidelines for stablecoins.
PwC’s William Gee describes the importance of added trust, and explains – “[s]0 we are asking how things would look inside a regulated context; what are the standards, protocols, best practices and how would they fit?”, reported CoinDesk.
CoinDesk also reports of PwC advising crypto project Cred, which looks to develop its own “U.S. dollar-tied coin”.
Apple Removes Crypto Podcast Reportedly Ranked #4 in ‘Investing’ From U.S. iTunes Store
Notable crypto figure Anthony Pompliano of Morgan Creek Digital apparently saw his popular podcast (Off the Chain) taken down from U.S. iTunes markets yesterday.
Off the Chain is a fan favorite among investing related podcasts, ranking among the top 5.
“Last week we released a podcast discussing the ultimate argument for Bitcoin. It exploded & ranked #4 in US investing category before mysteriously being taken down by
@Apple. We had no warning. We don’t know why. They took down our podcast, but they can’t take down Bitcoin!”, Pompliano tweeted yesterday.
CoinTelegraph reports that Pompliano has tried emailing Apple several times, seeing no response.
After ‘Taking Out’ $6,800, Bitcoin Will Hit ‘New Highs’ In 2019, Says Galaxy Digital’s Novogratz
Mike Novogratz is a popular figure in the crypto space as CEO of Galaxy Digital. Novogratz stated a few bold comments yesterday, expecting Bitcoin to see or even surpass former $20k highs next year.
Novogratz mentions that the barrier of $6,800 must break, which could then lead to a year’s end price of around $8.8k-$9k. He then goes on to mention 2019, saying – “By the end of the first quarter we will take out $10,000 and after that we will go back to new highs — to $20,000 or more”, as reported by Financial News (FNLondon).
CoinTelegraph mentions previous speculations from Novogratz, when last month he estimated that Bitcoin wouldn’t surpass $9k this coming December.