ConsenSys founder Joe Lubin just bet more than half a million dollars that Ethereum will be going strong in four years. Settling the terms of the bet between Lubin and Bitcoin missionary Jimmy Song on Ethereum’s success or failure took a year—it was made onstage at Consensus 2018—but it’s done.
The second largest cryptocurrency by market capitalization underwent a significant upgrade on February 28, but the impact on the average ether (ETH) coin-holder is negligible. So why does it matter?
On Jan. 7, digital exchange DX.Exchange, based and regulated in Estonia, began offering investors the ability to trade digital tokens backed by shares in 10 NASDAQ-listed stocks, including Apple, Amazon, Facebook, and Microsoft. And in October, crowdfunding platform Indiegogo sold tokenized shares of the St. Regis Aspen Resort to SEC-accredited traders.
Ethereum Classic, the cryptocurrency created after the main Ethereum developers led by Ethereum founder Vitalik Buterin split off in a June 2016 hard fork to reverse the theft of $55 million in coins, suffered another loss this week. On Jan. 5, a miner or group of miners managed to gain control of more than half of the Ethereum Classic mining power, or hashrate, in what is called a “51% attack.” This gave them the ability to double spend ETC coins—basically spending a newly created coin and then forking the ETC blockchain, allowing them to cancel the transaction and be able to spend that coin again. Called a deep chain reorganization,…