Coinbase Implements Fixes, Shortage Of Blockchain Specialists + More News

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Crypto Briefs is your daily bite-sized summary of cryptocurrency and blockchain-related news – examining the stories that fly under the radar of current crypto news.

Exchanges news

  • After two failures on April 29 and May 9, Coinbase said They change the topology of database implementation, solve the problem with driver closed connection logic, and implement better jitter to avoid storms on the connection. They also implement safeguards to limit the impact of future database errors to the smallest number of requests. The control panel also modifies their health check logic and implements improved tooling to ensure that they can quickly identify and disable faulty external services that increase latency.
  • The non-conservative exchange dYdX, which is supported by Andreessen Horowitz, announced the public launch of its BTC-USDC Perpetual Contract Market. According to Upon the announcement, they entered a private alpha on April 20, since then, stress testing the system during market volatility, collecting UI & UX feedback, and increasing liquidity in their order books with market makers. Almost $ 5 million has been traded since entering Alpha to date, of which 3 million since Sunday.

Blockchain news

  • Demand exceeds supply for blockchain specialist jobs in China, reports the China Times. The news center quotes decentralized financial (DeFi) companies stating that they are struggling to find enough suitable candidates to fill a growing number of blockchain development and engineering roles, despite offering highly competitive salaries. Startups are located at the bottom of the pecking order, with large state-owned banks and central bank affiliates reportedly boasting blockchain engineers at the speed of knots.
  • South Korea’s fintech sandbox operators say the sandbox has already created 380 blockchain and other fintech jobs and generated approximately $ 111 million in investment, reports Shina Ilbo. The sandbox is the brainchild of a government financial regulator, the Financial Services Committee, which works with 16 fintech startups. The companies have been exempt from most forms of financial regulation for four years and have conducted a total of 36 pilots, with more than 60 test bed programs to follow this year.
  • The South Korean city of Gimhae, in South Gyeongsang Province, says it will release blockchain-powered ID cards that will help residents navigate local, government-owned and affiliate websites faster than ever before, reports the Asia News Agency. Gimhae authorities declare that they intend to develop a platform for digital identity verification and a “mobile electronic wallet” by the end of this year.

Scaling news

  • IOV Labs, a developer of blockchain technologies, has announced the launch of its Light Client for the RIF Lumino Payments Network, a third tier Bitcoin scale solution. According to In the press release, RIF Lumino Payments Network enables off-chain payment options for any current or future ERC20 compatible token deployed on the RSK and RIF blockchain networks. This announcement follows the release of RIF Dollar stablecoin.

Mining news

  • The Ukrainian Energy Minister is now working with the country’s Ministry of Finance on a proposal for an agreement that would allow surplus nuclear energy to be supplied to cryptocurrency miners, reports the BBC’s news service in Ukrainian. The BBC quotes Energy Minister Olga Buslavets as saying: “If [the plan] will be a signal to investors who want to carry out similar projects in Ukraine. ”

Investment news

  • A New York-based investment company, New York Digital Investment Group (NYDIG), has raised $ 139.84 million in a Bitcoin investment fund that started a week before Bitcoin’s halving, according to to a Securities and Exchange Commission form. The fund received a BitLicense in 2018 and is affiliated with a consultancy Stone Ridge, while the company’s chief of regulatory affairs, Ben Lawsky, helped create the BitLicense in 2014, raising the issue of conflicts of interest, such as Forbes reports.
  • Blockchain Valley Ventures (BVV), a venture capital firm focused on blockchain technology, and Delio, a provider of investment technology for private markets, has launched the BVV Dealroom – a virtual deal marketplace for blockchain startups and investors. Per In the press release, the platform will regulatory facilitate the entire process of communication and deal-making. In an effort to support the startup industry during the COVID-19 related restrictions, startups and investors will not be charged enrollment fees.

Security token news

  • The Japan Security Token Association (JSTA) has appointed Deloitte TomatsuIs the senior manager of blockchain as chairman, per a press release. The JSTA states that Mitsuhiro Sonobe is also in charge of Deloitte’s cryptographic assets team and “has in-depth knowledge of the blockchain industry, including security tokens. The association adds that it will” strive to expand the security tokens market and create new business models “.

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