Binance vs. Ethereum, MicroBT vs. Bitmain, Libra vs. the World

Today, Binance unveiled plans for a new smart contract blockchain competing with Ethereum, Bitcoin miner manufacturer MicroBT looks to beat Bitmain to market, and the road ahead for stablecoins looks bumpy.

“The industry needs more high-performance infrastructures, not just one single blockchain,” a Binance spokesperson said, adding the two networks would complement one another in growing the blockchain ecosystem. Here’s the story:

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Binance’s Base Layer
Binance released a white paper detailing a new smart contract blockchain that might compete with Ethereum. The new Binance Smart Chain (BSC) would work as a smart contract layer running parallel to its existing Binance Chain, and incorporate a matching engine capable of fast trade executions and a new consensus mechanism designed to combine fast confirmation times with strong on-chain governance.

Mining Wars
Shenzhen-based MicroBT is rolling out three new energy-efficient bitcoin miners amid heated competition with industry giant Bitmain ahead of the network’s halving event in less than 30 days. MicroBT has slowly chipped away at Bitmain’s market dominance, and now looks to push out its latest models ahead of the halving and Bitmain’s updated machines expected in May.

Stablecoins

Circle:

  • Four months after Circle pivoted to stablecoins, the startup’s new business model has received an unexpected boost from the global coronavirus crisis. “Over the past several weeks, we have seen explosive interest and growth in USDC,” co-founder and CEO Jeremy Allaire said, referring to the stablecoin Circle issues in partnership with Coinbase. “There is clearly very significant global demand for digital dollars, and the use of digital dollars as a new payment medium.”
  • According to CoinMetrics, over the past six…

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