Wow, what happened to Satoshi? We are in the thirty-third article of the series. Bitcoin (BTC), which has lost more than 10% in value throughout September, made a rapid entry in October and rose above $ 47,000. Following it, ether (ETH) is changing hands above $3,200.
This week, we closed the third quarter of the year and entered the fourth. Among the developments in the last week of the third quarter, especially the mining bill in the USA, the transaction of Bitfinex, the events in China, Compound Labs and Verifone will be mentioned.
New bill on cryptocurrency mining in the US
Democratic Senator Maggie Hassan and Republican Senator Joni Ernst, conducted outside the United States cryptocurrency mining activities for better control of draft legislation prepared.
In the bill, the Treasury Department’s decision on how cryptocurrencies are used around the world, in other countries what forms of mining and mining, supply chains It is envisaged that he will collect information about how it affects and present a report to Congress.
Cryptocurrency in foreign countries, if the legislation is approved mining making public and private sector organizations detection in the United States and other countries between 2016-2022. dollar value of mined cryptocurrencies and the supply chain of the mining industry, especially of sectors such as microelectronics. how you affect will need to be investigated.
Senator Hassan, about the bill they prepared with Senator Ernst, “In order to increase the competitiveness of the United States, our government needs to play a role in the global economy of cryptocurrencies and other countries from cryptocurrencies. how you benefit He needs to gather more information about it.” said.
$23.7 million transaction fee paid
From the wallet of cryptocurrency exchange Bitfinex for a transaction on the Ethereum blockchain earlier this week. 7,676 ETH (current value was approximately $23.7 million) transaction fee paid.
The event, first reported by The Block, has been on the Ethereum blockchain so far. highest transaction fee paid in dollars thought to be possible.
The team of DeversiFi, the platform where the event took place, made a statement after the event. by sharing explained the details of the transaction.
DeversiFi, an Ethereum-based Layer 2 protocol, made a change about a month ago and started using EIP-1559, which was implemented with the London update. The DeversiFi team is in this direction for customers who send money from wallets such as Ledger. https://github.com/ethereumjs/ethereumjs-monorepo started to create transaction bodies compatible with EIP-1559.
According to the statement, used during this process and available at this address code, transactions gas value works fine when integer but fractional numbers It can run into problems when it happens. According to the example given, a value such as 33974230439,550003 can produce an integer such as 35624562649959629.
This little trouble is in your wallet huge amount It is not a problem for users who do not have money, in other words, for most users, and these users can only perform their transactions by getting an error message and trying again. But in your wallet large sums Persons and institutions that hold the company can be directly affected by this problem.
According to the DeversiFi team’s statement on the afternoon of September 27A user who has already sent money to DeversiFi can access the platform. 100,000 USDT sent This is what happened at the time. Recognizing the issue, the DeversiFi team decided to temporarily suspend transactions from Ledger wallets to initiate an investigation.
During the examinations, the miner who wins the block numbered 13307440 and therefore receives the transaction fee, will receive the ETH from there. sent to Binance detected and then contacted Binance. Thanks to the cooperation of Binance, the DiversiFi team and the miner in question contacted, and the miner received from this transaction. 7,626 ETH returned it. DeversiFi as a reward to the miner 50 ETH gave.
Channels of Chinese crypto investors are closing
The statement released by the People’s Bank of China last week mobilized crypto money companies operating in the country.
Huobi Global, one of the most popular cryptocurrency exchanges in the country, is now from china new user registration It does not accept the accounts of users who already have an account on the exchange. Until 31 December 2021 It is preparing to close gradually.
Another popular exchange Binanceannounced that it does not operate in the Chinese market and has blocked Chinese IP addresses.
Two more cryptocurrency exchanges, BitMart and BiKi, operate in the country in order to comply with the regulations in China. As of November 30, completely will have stopped.
Unlike exchanges, TokenPocket, a cryptocurrency wallet, is also withdrawing from the Chinese market, according to Reuters.
CoinGecko and CoinMarketCap, the industry’s leading data platforms Unavailable to Chinese users. Similarly, there is an access issue for TradingView.
Established in 2016 and the Ethereum blockchain second largest mining pool China-based Sparkpool has started its activities due to regulations. will completely terminate explained. Again, the Ethereum blockchain fourth largest Beepool, the mining pool, will follow. F2Pool, one of the giant pools of the Bitcoin blockchain, has decided to close the accounts of its customers in China.
Unlike crypto money companies, China’s e-commerce giant Alibaba also took action after the Central Bank’s statement and took action on the platform. will stop sales of cryptocurrency mining devices announced. In addition to all these, there are other different companies that had to stop their activities in the Chinese market. There are also crypto companies.
chinese government, cryptocurrency Especially in 2013 and 2017, it has brought obstacles against the market, restricted the transactions that can be made with cryptocurrencies and many exchanges. to leave China had caused.
The statement released last week declaring any crypto activity illegal due to the past a harder move seen as.
The statement in question prohibits not only buying crypto money in exchange for fiat money, but also all kinds of crypto money transactions and companies headquartered abroad It is emphasized that it will not be able to provide crypto money services in China.
Compound Labs encountered post-update bug
Compound Finance, the DeFi platform that users use to borrow / lend, to obtain abnormally large COMP encountered a bug.
Compound Labs from his Twitter account according to the statement A recommendation number 062 on the platform after acceptance and implementation “extraordinary activities” started to happen.
This proposal, submitted by a community member, was again opened to the community’s vote on September 27 and entered into force on September 29. Purpose of the proposalOn one side, COMPs distributed as rewards in markets within Compound Finance borrowers, on the other side suppliers was divided into two different groups.
The suggestion, which was stated to fix a few “minor bugs” as well, was implemented after implementation. In the Comptroller contract spawned a new bug. As a result, some users are trading in larger-than-usual amounts of COMP tokens. to make a claim started.
Robert Leshner, the founder of Compound Labs, made a statement after this incident and said that most of the COMP tokens were held in the Reservoir contract. Limited amount of COMP in Comptroller contract stated that. Therefore, the name stating that the effects of the problem will be at a “limited level”, in the worst-case scenario, it could affect 280,000 COMP tokens. explained.
Stating that other users’ money and positions are safe, Leshner added the following note:
“There is no admin control or community tool that can disable the COMP distribution. A 7-day governance process is required in order to implement a change that can be made in the protocol.”
Meanwhile, both Compound Labs and the Compound community are seeking “potential steps” to resolve the issue.
After these explanations, he actually took much more COMP than he deserved Addressing the users, Leshner said that the owners of the wallets who do not return the money they receive will be reported to the tax office. explained. Refunds will be able to keep 10% of the tokens they received.
Verifone agrees with BitPay for cryptocurrency transactions
Thanks to the cooperation between crypto money company BitPay and Verifone, transactions can be made with crypto money at Verifone’s payment terminals across the USA.
Businesses using Verifone’s software will be able to get rid of their customers thanks to the feature that will be used later in the year. with cryptocurrency can start getting paid.
Verifone’s global reach, including financial institutions and retail brands 600,000+ businesses infrastructure used by 440 billion dollars trading volume.
Business owners using this infrastructure, if they accept crypto money bitcoin (BTC), ether (ETH), dogecoin (DOGE), bitcoin cash (BCH), Wrapped Bitcoin (WBTC), litecoin (LTC) and they will be able to receive payments in five different stablecoins: GUSD, USDC, USDP, DAI and BUSD.
Customers will select the cryptocurrency wallet they use for payment from Verifone’s payment terminals and scan the QR code. While the customer makes the payment with crypto money, the transaction will be settled in fiat currency.