Elichai just got a Wasm integration working in an experimental branch here which means after a little more review you'll be able to run a Lightning node in your web browser.
🔹 Compound supports WBTC
Decentralized lending protocol Compound has added support for Wrapped Bitcoin tokens (WBTC). In just two days, more than 100 BTC ( > $1M) have been added to the protocol. Compound users can now lend or borrow WBTC but cannot yet use it as collateral for borrowing other assets.
🔹 Chainlink Debate
ChainLink is a project that is trying to solve how blockchain protocols interact with external data sources, otherwise known as the oracle problem. ChainLink has made some nontrivial updates including integration with Google Cloud BigQuery to allow for hybrid cloud/blockchain apps and a recent listing (Link) on Coinbase.
However, the project recently came under fire from prominent voices in the space including Joey Krug and Eric Wall. The criticism was around: whether or not ChainLink is just a multisig oracle service that doesn't need a token, whether the current technical implementation of ChainLink is decentralized enough, and how secure the project really is.
ON THE REGULATORY FRONT
Over two days, the Senate Banking committee and the House Financial Services committee held hearings to interrogate Facebook executive David Marcus about Libra's plans.
The House hearing was especially interesting as it permitted testimonies from independent crypto industry experts such as Meltem Demirors. Meltem took the time to explain to regulators how Libra is fundamentally different from true cryptocurrencies such as Bitcoin.
READ OF THE DAY
📚 Paradigm Shifts
Ray Dalio wrote about the importance of identifying the economic paradigm we live in and forecasting when major forces sustaining it begin to break. He summarizes paradigm shifts that have occurred in the last 100 years and points to likely shifts in the decade to come.
📚 A Close Look at Libra Source Code
This week, our research partner Raul Jordan examined Libra's testnet source code to analyze the design choices Facebook made in Libra's testnet implementation and what these design choices tell us about Facebook plans to make the network decentralized in the future. One of the main findings of the report is that regular Libra users currently don't have access to the ledger data and cannot validate its accuracy.
Disclosure: Token Daily Capital and/or its partners may have exposure to some of the cryptocurrencies mentioned in this newsletter.