"People say the worst part of Harry Potter is the really long bit of them camping in the woods but actually it's when Hagrid explains there are 29 knuts to a sickle and 17 sickles to a galleon. Just an absurd currency system. Complete dogshit"
In case you missed the two-day event on all things Lightning and Bitcoin, you can catch recordings of the talks here.
⚡️ Bitcoin After Death
Casa just announced Casa Covenant - a service that ensures the inheritance of Bitcoin in a simple way without having to worry about recovery instructions being stolen. Part of the multi-sig securing option Casa offers, Covenant gives the user an option to add a 6th key - “Safe Key” - which will be held in a safety deposit box and called upon when necessary.
🔹 ENS Adds Support for Multiple Cryptocurrencies
Ethereum Name Service (ENS), a way to get a human-readable name for your Ethereum wallet, just added support for other cryptocurrencies including BTC and LTC. This simply means that it's now possible to receive a BTC payment using your registered "name.eth" address.
This feature can be used on 15 different wallets including Coinbase Wallet, TrustWallet, and imToken.
After a lawsuit from the SEC, Telegram had no option but to delay the launch of their blockchain network TON by 6 months to April of next year. Earlier this week, the SEC succeeded in obtaining a restraining order against Telegram to stop the network launch. The SEC has some strong arguments as to why the Gram tokens are securities. Avichal Garg breaks them down here.
💰 Zcash Dev Fund
There is a noticeable uptick in the discussions around the creation of a Zcash dev fund (to replace the current founders' reward) in the network upgrade next year. A new proposal for the dev fund structure and its governing council was recently submitted by Autonomous Partners (ASP). There needs to be community consensus around the issue before Zcash's network upgrade to avoid a possible network split.
Blizzard and The Case For Decentralized Gaming
Blizzard Entertainment has been under fire recently due to their banning multiple players who showed support for the Hong Kong protests. The company said the actions violated the company policy. Although the company's actions fall within its rights as the owners of the game, it does raise a question around the rights of players in the gaming ecosystem and whether or not these global platforms will remain this centralized forever.
Hitchhiker Guide to Zero-Knowledge
Vitalik Buterin and Coda CTO Isaac Meckler are leading a full-day workshop on zero-knowledge proofs (more specifically, SNARKs) along with other industry leaders.
The workshop is designed to be affordable but Token Daily readers can enjoy an extra 50% discount on any ticket type using the code TokenDaily50.
THOUGHT OF THE DAY
Will Ethereum Lose Its DeFi Stronghold When 2.0 Launches?
The Ethereum 2.0 upgrade is not going as smoothly as Ethereans would have liked. Leading projects that have been built in the Ethereum ecosystem are anticipating the uncertainty and risk that accompanies the move to Ethereum 2.0 and partially departing from Ethereum.
Dapper Laps, the creator of CryptoKitties, recently announced its own dapp optimized blockchain Flow. Last week, Aragon followed suit by announcing Aragon Chain: a new blockchain built using Cosmos SDK that better serves Aragon goals. Though, to be fair, the Aragon team has always been particularly critical of Ethereum: specifically concerning the wide variability of gas fees and Ethereum's "bad protocol design" which would break numerous Aragon smart contracts in the upcoming Istanbul hard fork.
A major question here is whether this trend will also affect Ethereum's predominant narrative: DeFi. Discussions emerged during Devcon 5 on how Ethereum 2.0 could break the composability of DeFi protocols.Will DeFi protocols migrate to competing platforms? Are EOS, Tezos, Cosmos or other platforms ready to carry the DeFi torch?
We assess these concerns and analyze DeFi products' viability on Ethereum's competitors in our new article.
Disclosure: Token Daily Capital and/or its partners may have exposure to some of the cryptocurrencies mentioned in this newsletter.