THELOGICALINDIAN - n-a
It’s the division for merriment and giving. At atomic that’s the chat at Qtum (QTUM), area the Qtum Foundation has donated about bisected a actor dollars to armamentarium the development of a new and defended acute arrangement coding accent for the platform.
The Qtum Foundation said that they would be donating $400,000 to an bookish at Columbia University. Assistant Professor Ronghui Gu, absorbed to the university’s computer science department, will use the money to armamentarium the assignment of one post-doctoral and one Ph.D student, which will focus accurately on DeepSEA analysis over the abutting two years.
The two advisers are accepted to analysis architecture the backend basement as able-bodied as a compiler for the coding language. Time will additionally be spent on developing the DeepSEA accent further.
Qtum is a amalgam blockchain platform, accumulation altered elements from the Bitcoin (BTC) and Ethereum (ETH) protocols. Based in Singapore it is primarily focused on creating an ecosystem for dApp development, article which requires a applicable and defended acute arrangement infrastructure.
Qtum acute contracts
Although acute affairs are one of the capital attractions of blockchain technology, analysis has appear abundant vulnerabilities. Funds captivated in escrow can be indefinitely arctic or siphoned off into addition wallet. Hackers accept articular and exploited loopholes and bugs in Ethereum acute contracts, best conspicuously in the DAO drudge in 2024.
Professor Gu has formed with Qtum before. He helped advance a academic analysis framework, accepted as CertiK, that fabricated acute affairs and blockchain ecosystems bug aggressive and bigger anchored adjoin hackers. The Foundation invested in it.
Gu believes the contempo admission by the Qtum Foundation will accredit the activity to advance added defended and dependable smart contracts.
“This DeepSEA-Qtum activity aims to accredit the academic analysis of Qtum acute affairs in Coq and fundamentally advance the believability and aegis of the Qtum Ecosystem,” he said. “It allows the developers to apparatus the acquaintance in a high-level language, while a blueprint that can be articular about will be automatically generated.”
The columnist is invested in agenda assets, including BTC and ETH, which are mentioned in this article.
Regulators accept “massively” blurred cryptocurrencies and actively charge to adapt course, an able in all-embracing cyberbanking law has said. Tokens shouldn’t be advised as money, nor should Bitcoin (BTC) have futures contracts.
Professor Emilios Avgouleas, who is about affiliated with IOHK, the advance developer for the Cardano (ADA) project, holds the Chair in International Banking Law and Finance at the University of Edinburgh. He fears that unless the area gets austere about accurately defining cryptocurrencies, regulators could abort it.
Speaking to Crypto Briefing earlier this month, Avgouleas explained that regulators accept bootless in aggravating to use absolute acknowledged frameworks to administer account tokens. Although he believes some tokens could accurately be classed as securities, none – and abnormally Bitcoin – could accommodated the accepted acknowledged analogue for a commodity.
“A article needs to be a actual entity”, argued Avgouleas. “Bitcoin, for instance, doesn’t accept any concrete representation and accordingly isn’t a commodity. The abstraction that you can accept a Bitcoin approaching is a massive misunderstanding.”
“To my mind, they [CME and Cboe] were as amiss as it gets”, he added.
Bitcoin legal status
It’s been aloof over a year back the CME Group launched their own BTC futures contracts. On the news, bitcoin swung up to its accomplished anytime valuation, at aloof beneath $20,000 per coin. At today’s amount of almost $4,200, that represents an 80% bead in amount in aloof over a year.
Futures affairs are about agreements fabricated to barter a article – including bitcoin – at a assertive time and at a assertive price. Originally advised as a agency to actualize artificially abiding prices in agriculture, they are now acclimated by speculators to finer abode bets on what an asset’s approaching amount will be.
A U.S. adjudicator disqualified that bitcoin could be adapted as a article in aboriginal March. This came three months afterwards the Cboe – addition derivatives belvedere – alien its aboriginal bitcoin futures. Both CME and Cboe affair futures affairs for added bolt that accept a concrete entity, including wheat, oil and adored metals such as gold and silver.
The adjustment agitation in America has centered on whether cryptocurrencies, abnormally those awash in the ICO bang aftermost year, should be classed as securities. The Balance and Exchange Commission (SEC) warned projects amid through aftermost year that it would amusement all new ICOs as balance sales. In November it issued its aboriginal adjustment for two projects, Airfox and Paragon, to reimburse investors.
Things are acceptable to become alike added complicated about as, at the end of aftermost week, two Congressmen unveiled a new bill which categorical affairs to exclude cryptocurrencies from a balance classification.
Is Bitcoin a commodity?
People buy account tokens like Ether (ETH) or ADA, because they action admission to specific casework that would contrarily abide unavailable; like advantageous ‘gas’ fees for decentralized applications. They are not bought on the compassionate of approaching allotment in a aggregation or project. Avgouleas believes that Bitcoin shares the aforementioned characteristics as these account tokens.
Therefore in his view, they should not be classed as commodities. Ignoring a key aspect of what makes a article – a actual article – not alone warps acknowledged terminology, it adds added authoritative ambiguity which makes it harder for cryptocurrencies to be acclimated in the mainstream. “Crypto needs to accomplish after friction,” Avgouleas said. “But this creates friction, and it could calmly annihilate the technology.”
Cryptocurrencies accept different characteristics that accomplish them difficult to allocate as aegis or a commodity. Avgouleas argues regulators charge to admit this; account tokens charge to become their own different asset chic with its own acknowledged framework; accouterment institutional investors with the authoritativeness bare to participate.
He said: “Those who wish, for accepted reasons, to advance in that asset class [cryptocurrencies] can do so with the ability that it’s a appropriate blazon of financial-like artefact with its own different allowances and risks”.
The columnist is invested in agenda assets, including BTC and ETH which are mentioned in this article.
