Tag Archives: Ethereum

AMC Theaters Will Accept Ethereum, Litecoin and Bitcoin Cash

In a tweet yesterday night, Adam Aron the CEO of AMC Theaters announced that the company will accept Ethereum, Litecoin and Bitcoin Cash as payment methods by year-end.

AMC Theaters announced in August that it will accept bitcoin as payment. The company also added google pay and Apple pay in its payment methods.

The Cryptocurrencies market has seen a lot of good news during 2021. Tesla announced that it will accept bitcoin as payment and paypal also run into the crypto world.

In premarket trading, AMC is 1.39% lower at 46.19, the stock closed at $46,84 yesterday. The stock is up 38.50% the last month and 2,109% higher year-to-date.  

As of writing Ethereum (ETHUSD) trades 1.62% higher at 3610, Litecoin (LTCUSD) is adding 1.99% at 193.10, on the other hand Bitcoin Cash is 1.75% lower at 641.66.

EY announces integration with Polygon protocol and framework on Ethereum scaling solutions

The EY organization today announced it is using the Polygon protocol and framework to deploy EY blockchain solutions on the public Ethereum blockchain ecosystem.

As more enterprises adopt blockchain technology, transaction volumes and costs on the main public Ethereum blockchain have risen. Adopting Polygon’s commit chain solutions allows the EY organization to offer enterprise users increased transaction volumes with predictable costs and settlement times and the option to move transactions onto the public Ethereum mainnet.

EY has connected the Polygon public, permissionless commit chain into EY flagship blockchain services including EY OpsChain and EY Blockchain Analyzer. EY clients can connect their business operations into Polygon networks with just a simple configuration change on blockchain.ey.com. The main Polygon systems network and the main Polygon test and development network are now both directly accessible from blockchain.ey.com.

In addition to integrating the main Polygon commit chain into blockchain.ey.com, the EY organization is working with Polygon to create permissioned, private industry chains leveraging new models for handling transaction verification to increase efficiency and reduce transaction costs known as an optimistic rollup1. These industry chains would offer enterprises the comfort and security of a closed system but retain the close alignment with the public Ethereum mainnet that would make a future transition to public networks faster and lower risk.

Paul Brody, EY Global Blockchain Leader, says:

“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients and offers a faster roadmap to integration on the public Ethereum mainnet. We discovered our shared priorities around open system and networks and the Ethereum ecosystem would make collaboration in this area much easier.”

Sandeep Nailwal, Co-founder, Polygon, says:

“The EY commitment to the public Ethereum ecosystem and to open standards was a big driver in evolving shared approaches. No other organization has made the same scale of commitment to the ecosystem and to open systems, or brings the depth of technology that the EY organization has in this space.”

Both the EY organization and Polygon are working on common roadmaps that will help prioritize enterprise-friendly features into the ecosystem with a particular focus on privacy technologies that enable sophisticated use cases and support regulatory compliance.

Gemini to Support Ethereum 2.0 Trading and Staking

Gemini: This month marked the momentous launch of Ethereum 2.0 Phase 0. While the full implementation of Ethereum 2.0 (Eth2) will roll out in phases, we plan to support Eth2 trading and staking as soon as possible.

Ethereum is an innovative blockchain that has pushed decentralized applications, including decentralized finance (DeFi), forward. We look forward to continuing to support the Ethereum community and new developments as Eth2 transitions and reaches its next milestone — so that we can provide all of our customers with the ability to access and earn from the latest developments in crypto.

Onward and Upward,

Team Gemini

RBA partners with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software on Wholesale Central Bank Digital Currency Research Project

The Reserve Bank today announced that it is partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software, a blockchain technology company, on a collaborative project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). This is part of ongoing research at the Reserve Bank on wholesale CBDC.

The project will involve the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform. The POC will be used to explore the implications of ‘atomic’ delivery-versus-payment settlement on a DLT platform as well as other potential programmability and automation features of tokenised CBDC and financial assets.

Assistant Governor (Financial System) Michele Bullock said ‘With this project we are aiming to explore the implications of a CBDC for efficiency, risk management and innovation in wholesale financial market transactions. While the case for the use of a CBDC in these markets remains an open question, we are pleased to be collaborating with industry partners to explore if there is a future role for a wholesale CBDC in the Australian payments system.’

The project is expected to be completed around the end of 2020 and the parties intend to publish a report on the project and its main findings during the first half of 2021.

What is An Initial Coin Offering (ICO’s)

An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.

Initial Coin Offering means that someone offers investors some units of a new cryptocurrency or crypto-token in exchange against cryptocurrencies like Bitcoin or Ethereum. Since 2013 ICOs are often used to fund the development of new cryptocurrencies. The pre-created token can be easily sold and traded on all cryptocurrency exchanges if there is demand for them.

Many view ICO projects as unregulated securities that allow founders to raise an unjustified amount of capital, while others argue it is an innovation in the traditional venture-funding model.

Several projects used a crowdsale model to try and fund their development work in 2013. Ripple pre-mined 1 billion XRP tokens and sold them to willing investors in exchange for fiat currencies or bitcoin. Ethereum raised a little over $18 million in early 2014 — the largest ICO ever completed at that time.