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VeradiVerdict - Ethereum 2.0 - Issue #10

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Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional
 
November 7 · Issue #10 · View online
VeradiVerdict
Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing into blockchain companies and cryptocurrencies. I focus on early investments and want to share my thoughts and what’s going on in the industry in this weekly newsletter.

View and comment this newsletter on Medium

Editorials
This past week was the tenth anniversary of Satoshi’s whitepaper. It also brought some exciting news on Ethereum. JP Morgan announced that they had created an enterprise version of the ethereum blockchain, and Vitalik Buterin also signaled to us that a switch to proof-of-stake is “no longer so far away”. Here’s the video.

At Devcon 4 in Prague, Vitalik reviewed the series of integrated or abandoned efforts that led Ethereum to where it was. He then outlined the path to Ethereum 2.0, dubbed Serenity, which would be the final phase of Ethereum’s development roadmap, bringing Ethereum from proof-of-work(PoW) to proof-of-stake(PoS).

With PoW, miners solve cryptographic puzzles to mine blocks to the blockchain. These puzzles become harder over time, requiring input of a lot more energy and expensive hardware. This leads to waste of resources and inefficiencies. Moving to PoS means that validators(not miners) will validate blocks by putting their Ether as a stake. If they bet on the wrong block, their Ether will be gone. The Casper protocol is a particular implementation of PoS for Ethereum, and would serve as an intermediary step in Ethereum’s transition from PoW to PoS.

In addition, Serenity will institute sharding, which would help to solve the scalability bottleneck that plagued Ethereum as it is. Ethereum’s main chain will be divided into separate chains, or shards, that associate with each other as well as the main block. Sharding provides parallel processing of transactions, increasing the transaction speed of the network several folds.

Digests
Morgan Stanley Report Says Crypto Now An Institutional Asset Class
Writing and publishing code alone cannot be a crime
In the Tweets
Francis Pouliot
How I fooled people into thinking I can code:

- Bitcoin SaaS API docs
- trying APIs w/ Postman
- Bitcore playground
- electrum console
- bitcoin.js and trezor command-line
- https://t.co/tlnGRD0nb2 and https://t.co/PaNVs2pdzc
- @opentimestamps
- wikipedia
- mastering Bitcoin https://t.co/7agbRF3CgZ
6:15 AM - 5 Nov 2018
Emin Gün Sirer
All crypto benchmarks that report more than a few hundred TPS should be considered suspect. Case in point:

Wait A Minute, EOS Is Not A Blockchain? https://t.co/HCKVvzwIEG via @zycrypto
5:23 PM - 4 Nov 2018
Larry Cermak
Hinman, who previously stated that Ethereum isn't a security, said today at a conference that any token that has an expectation of return is generally going to be seen as a securities offering by the SEC. This tells me that both XRP and BNB are textbook securities. https://t.co/quLUzo1m2Q
9:44 AM - 5 Nov 2018
News
JP Morgan's Quorum blockchain opens new world of trading opportunities
Israeli Startups Raised $600 Million Through ICOs in 2018: Report
Bithumb, SeriesOne to Launch Security Token Exchange in the US
Elon Musk Impostors Score $176K (And Counting) in New Twitter Scams
Basic Attention Token (BAT) is launching on Coinbase Pro
Zcash's Next Upgrade to Make Private Transactions 100x Lighter and 6x Faster
Regulations
Hong Kong's Securities Watchdog to Regulate Crypto Funds
Swiss Finance Watchdog Tells Banks to Treat Crypto Trading As High Risk
China's Central Bank Moves to Restrict Free Crypto Giveaways
New Products and Hot Deals
Ethereum Energy Project Now Powers 700 Households in 10 Cities
Apps for Kik's Crypto Are Beginning to Appear on Apple and Google Stores
Cute Cats Power Serious $15 Million Funding for CryptoKitties Creators
Coinbase's Emilie Choi: $300 Million Raise Was 'For a Rainy Day'
StarkWare closes $30M Series A led by Paradigm – StarkWare Industries
RCN + Decentraland: introducing virtual land mortgages
Meet with Me
I will be traveling this fall for certain events, and to meet with investors. Let me know if you and your colleagues would like to meet in person.

Macau, Sora Summit, November 13
New York, Consensus Invest, November 27
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