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Joseph Young - @iamjosephyoung
5 months ago
Amazed by the changing stance of Visa and Mastercard recently.
Visa:
- Works with Bitcoin Lightning startup Zap
- Releases official blog post on advancing approach to digital currency, mentioning bitcoin
Mastercard:
- Accelerates crypto card program
https://t.co/nE8B7DO4lo
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Emilie Choi - @emiliemc
5 months ago
RT @coinbase: We’re proud to work with innovators like @Visa that are building the bridge between crypto and traditional finance. We’re excited about its vision, commitment to working with leaders in this space, and the potential to connect crypto to its global network. https://t.co/HNz3cFdD9n
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Cass Lin - @thulynnn
5 months ago
RT @MatiGreenspan: Whoa!!! Visa is now currency agnostic...
"We plan to support the digital currencies and blockchain networks that our clients and partners demand, in keeping with our broader network-of-networks strategy."
Nothing in the way now. #Bitcoin is taking over.
https://t.co/uyvlXxwwJr
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Laura Shin - @laurashin
5 months ago
RT @MatiGreenspan: Whoa!!! Visa is now currency agnostic...
"We plan to support the digital currencies and blockchain networks that our clients and partners demand, in keeping with our broader network-of-networks strategy."
Nothing in the way now. #Bitcoin is taking over.
https://t.co/uyvlXxwwJr
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Erik Voorhees - @ErikVoorhees
5 months ago
As crypto seeps into traditional finance, it will marginally consume until fiat itself withers under the long overdue forces of market competition 🚀 This strategic announcement from Visa demonstrates...
Advancing our Approach to Digital Currency | Visa https://t.co/hYCLjcxhsN
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philanthropyhustle
5 months ago
Visa recently contacted a firm my friend works at regarding specifically ethereum platform consultation. This was say 7 months ago. I told him it would make sense to port the visa system over but he explained to me hard limitations like offline transactions. Well there are now stablecoins tackling this issue.
2
giladio_O
redditor for 2 months 5 months ago
Look at the the protocols they are developing to implement this. Both are linked in the article, Zether and Flyclient. Both built on Ethereum. Not yet clear if they will run their own enterprise instance or become their own shard on ETH2.
5
alicenekocat
Developer 5 months ago
>Our [research team](https://usa.visa.com/about-visa/visa-research.html) has been exploring the science of blockchain technology for several years. Their work has yielded several promising innovations, including [Zether](https://crypto.stanford.edu/~buenz/papers/zether.pdf)2 and [FlyClient](https://eprint.iacr.org/2019/226.pdf).3 Today their research is focused on new mechanisms to improve scalability and enable offline digital currency transactions.
​
>Their work provided innovations
No further references. The hopium, wishful thinking mixed with the lack of reading comprehension astounds me. No wonder why people thought when a patent filed that contained some mention of Ethereum meant it an implementation was imminent.
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turpajouhipukki
5 months ago
Then they tax you out of your ass and take the rest if you still dare to have something left
4
datawarrior123
1 - 2 years account age. 200 - 1000 comment karma. 5 months ago
great news, over to moon !!
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tysuke
5 months ago
how could this not be the best news for ethereum? besides the fact they in no way shape or form can handle the load?
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tysuke
5 months ago
I’m very interested in ethereum succeeding. L2 sounds great but then why am I still paying $1-10$ for a transaction? Regardless great news and I’m excited for this to take shape
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aminok
5 months ago
zk-RollUp compression of L1 transactions, and L2 solutions like OMG Network, Matic, and STARK-based ones like Deversifi just launched. The market hasn't widely adopted them yet.
Other L2 solutions lik Gods Unchained's ImmutableX DEX, and Optimistic RollUp, are soon to launch, and will expand scalability further yet.
You might be able to reduce your fees by using zk-RollUp-based transactions, on zkSync or Loopring Pay.
zkSync: [https://zksync.io/](https://zksync.io/)
Loopring Pay: [https://medium.com/loopring-protocol/loopring-pay-is-live-zkrollup-transfers-on-ethereum-770d35213408](https://medium.com/loopring-protocol/loopring-pay-is-live-zkrollup-transfers-on-ethereum-770d35213408)
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Always_Question
5 months ago
Mostly because of Tether. They've announced that they are working to move inter-exchange transfers over to OMG, an L2 solution on Ethereum. That should greatly alleviate gas cost pressures.
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iambabyjesus90
5 months ago
Holy shit! I had to take two shit this morning because I’m so stoked.
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iambabyjesus90
5 months ago
Bahaha love it! We made it brother, we made it! These next few years will be some of the best in our lives.
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CollapseSoMainstream
5 months ago
I fucking held all the way through and sold in March because I was expecting a big crash and to buy back lower when the stock market settled and people were ok with more risky investments. So much for that lol
Held the high, sold the low. Kicking myself so hard.
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familydude213
5 months ago
Great news, and I’m pretty new to crypto as a whole. With banks now capable of holding crypto and this why is the price not raising higher
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jumnhy
5 months ago
I mean, if you bought 1 ETH on Monday you're now up ~$35. I think that's pretty good.
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ROGER_CHOCS
5 months ago
I'd imagine banks would be the ones to flood the public networks with shitcoins, driving up gas fees to the point people dont want to use the network, while pushing their own low fee chain.
Banks and corporations buy stuff all the time just to run it into the ground. Like facebook, Visa wants the enite world to use their stablecoin. They are not our friends by any stretch of the imagination.
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PristineCount0
5 months ago
Well it was a breakout of an ascending triangle but this news is quite interesting. Hmmm
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ThaBeastIAm
5 months ago
thats a great choice
If there is a company who understand long term game - visa is the one
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FuckFaceGG
Most popular dude on here 5 months ago
Friendship ended with Libra. Now Eth is my best friend.
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mm1dc
6 - 7 years account age. 350 - 700 comment karma. 5 months ago
>Zether
Its research paper of Stanford University and Visa. The paper mentions the technology uses a Smart contract on top of Ethereum. The transaction is anonymous, private, and using Payment channel which is layer 2 of Ethereum to avoid high fees and delay.
[https://crypto.stanford.edu/\~buenz/papers/zether.pdf](https://crypto.stanford.edu/~buenz/papers/zether.pdf)
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fucayama
5 months ago
I haven’t read them but from a quick scan the 2 R&D projects they linked to in the article (zether and Flyclient) both appear to be built either on ethereum or to interact with the ethereum chain.
No guarantee of anything but a promising indicator.
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litpath
DeFi afficionado :Ethereum: 5 months ago
Look further. Zether and Flyclient. Ethereum is balls-deep in both of them. Links already provided in the same article.
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litpath
DeFi afficionado :Ethereum: 5 months ago
http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=/netahtml/PTO/srchnum.html&r=1&f=G&l=50&s1=20200151682.PGNR.
/ https://www.paymentscardsandmobile.com/visa-files-digital-currency-patent-in-us/
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CryptoMods
Bronze 5 months ago
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CryptoMods
Bronze 5 months ago
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SpacePirateM
Trader 5 months ago
Visa and friends left Libra. They're coming to Ethereum.
Meanwhile, at Facebook:
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cryptolicious501
Redditor for 4 months. 5 months ago
If crypto was mafia and Visa was the Godfather, ETH was just made a 'made man.'
The door is closing. The world will be divided between those who hold ETH and those who didn't...
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eYe-no-everything
5 months ago
Lol I luv wen guys get burnd n have know comeback so they have 2 attempt to correct grammar to help them feel better.
Have fun wit day one buddie
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Realchacal
5 months ago
seriously: speak proper English because a lot people here aren't even native English speakers so it's already hard enough for them to keep up.
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eYe-no-everything
5 months ago
Are you a mod or admin on this sub or on Reddit?
Who the fuck do you think you are to tell people what to do
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AutoModerator
5 months ago
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Oxygenjacket
5 months ago
I just threw all my credit cards at the screen. It's time to put everything I have in Ethereum.
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IAmNocturneAMA
5 months ago
ELI5 on Zether? Is it a coin? or just a smart contract? How do you interact with the smart contract?
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Tom8a
5 months ago
Zether is a smart contract that can be executed either individually or by other smart contracts to exchange confidential amounts of a token, denoted by ZTH. The key here is that transactions are confidential.
From the paper:
>We implement Zether as an Ethereum smart contract and show the practicality of our design by measuring the amount of gas used by the Zether contract. A Zether confidential transaction costs about 0.014 ETH or approximately $1.51 (as of early Feb, 2019). We discuss how small changes to Ethereum, which are already being discussed independently of Zether, would drastically reduce this cost.
Bullish AF!
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Tom8a
5 months ago
Wow incredible, I highly recommend reading even just the introduction in the paper Visa links to Zether. Bullish AF!
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Mountainminer
5 months ago
Guys, VISA is calling out Zether as a major player for them. Zether is a smart contract to be deployed on ethereum.
Wake up. Its happening.
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0ctopus
5 months ago
I see two Stanford email addresses and two visa email addresses at the top of the Zether paper, so yeah I bet they'll be using that!
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N0tMyRealAcct
5 months ago
Hmm...
I was thinking that the last pump was because of all the progress on ETH2 test net.
But maybe this VISA news is a contender?
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Mountainminer
5 months ago
The real news was that the US federal regulators ok'd it for banks to custodian crypto. Hard stop. They can hold crypto on their balance sheets. This means that you could have crypto in your savings account at WFC. This means that it is one BIG step closer to mass market due to the severe cost difference between current bank ledgering and reserve processes and using block chain to do so.
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decibels42
5 months ago
Not just crypto, but “digital assets,” which makes me think we will see banks offering a section in our accounts that shows not only our fiat balances, but crypto balances, credit card point balances (that can be traded), NFTs, video game points earned, etc etc.
https://www.bakkt.com/bakkt-app
Look at this mock up of the Bakkt app. I imagine every major bank will be doing the same over time, and competing for all of us to be entrusting our ETH/BTC, erc-20s, and NFTs (erc-721s, etc.) with them.
Most of us here won’t be doing this, but this is coming for the general population.
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jmart762
5 months ago
Genuine question, if it's good enough for the general population, why isn't it good enough for us? Unless, security is that important?
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N0tMyRealAcct
5 months ago
Why would that unproportionally benefit Ethereum?
Another contender could be all the DeFi hoopla.
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enpe
5 months ago
Aren’t credit card transactions essentially L2 for banks that submit transactions in batches? Maybe banks will keep crypto transactions mostly internal and only really use blockchain for external transfers? It would keep costs down, limit worry for slow transaction speeds and allow them to stake users funds for them. It mostly defeats the original use case/purpose of crypto, but it is what it is.
In the end, not your keys, not your coins.
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jwinterm
5 months ago
Kind of unrelated to the article, but my artist friend pointed out to me that this 3D-isometric art style has become ubiquitous in the last couple years, especially among cryptocurrency stuff, and now I see it everywhere and can't unsee it.
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borgol
Tin 5 months ago
It's easy to make in both graphic and UI design software, and there are thousands of free asset packs for graphic designers and web designers to build compositions using the style. Very convenient and has been popular for years but doesn't show much signs of slowing down yet. We are going to see an increase in more flat-3d 'neomorphism' soon spurred on by the graphical updates in the upcoming ios14, mark my words
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Michael__X
5 months ago
Also the semi 3D web design that goes along with it. We went from 3D to flat and we're back at 3D just less tacky.
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