December 3, 2020

Cryptheory

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News: Tron & Zcash, Libra, Tether a SEC

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Tron will use Zcash technology to ensure privacy

TRON’s initiative to protect Tron (TRX) privacy in the blockchain of the TRON cryptocurrency has announced that it integrates Zk-snarks technology developed for Zcash (ZEC) into TRON, which it has allegedly already tested on Tron. This is to make significant progress in Tron’s blockchain technology, while also allowing developers of smart contracts on Tron to successfully introduce private data. However, no detailed technical specifications have been published yet.

The Libra Association has established a Libra Network Development Committee

The Libra Association behind the development of the Libra cryptocurrency has created a new committee to guide on the technical development of the network. Its main tasks will be to streamline the Libra network technical plan, to set up working groups to prioritize selected research directions, streamline source code development and general community engagement. The statement states that the establishment of the committee is in line with the Libra project’s objective of achieving decentralization of cryptocurrency and self-government independent of the control of any organization.

Tether agreed to bring the three actions into one

Tether, behind stablecoin USDT, agreed to bring the three actions brought against it in October in New York, November in Washington and January in New York once again into one. All three actions are based on the claim that Tether together with Bitfinex, with which it has the same management, influenced the price of Bitcoin and manipulated the growth in its value in 2017. Tether has nothing against this possibility, but continues to argue that actions are not based on truth and are merely the result of a misunderstanding of the market situation.


Americans should learn from China, says “cryptomama”

The United States should learn from Chinese blockchain and digital currency innovations. According to Hester Peirec, the Commissioner of the US Securities and Exchange Commission (SEC), who is known in the cryptocommunity for her positive view of cryptocurrencies as “cryptomama”. “Learn what other countries are doing and make the most of it,” she told to her american colleagues. “There are many innovations in China. I think that a government that recognizes the potential of new technology is worthy of learning from it, ”she added. In the long run, Peirec has drawn attention to a lengthy solution to the issue of US regulation of the crypto industry, which may result in US companies dealing with this technology going elsewhere.

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