Kiffmeister’s Fintech Daily Digest 01/09/2020

~ kiffmeister
  • About 10.7 million bitcoins haven’t moved in more than 12 months, according to Digital Assets Data. Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant.
  • Ethereum celebrated New Year’s Day with a last-minute network upgrade, Muir Glacier, which is designed to delay the onset of the ‘Ice Age’. The upgrade, named after the melting Alaskan natural wonder, patches a mistake made in the Istanbul update of December 2019. When Istanbul was put in place, Ethereum developers apparently forgot to adjust the feature known as the ‘difficulty bomb’. This slows down block settlement to gradually push the network towards a proof-of-stake consensus mechanism.
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Published by kiffmeister

The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.