ECB President confirmed creation of EU digital currency, and bitcoin will be made less centralized
ECB President: digital currency of EU will strengthen euro
Christine Lagarde, European Central Bank President, in her speech in the new position said that the agency is working over EU digital currency. According to her, the digital currency will strengthen euro’s position in the world, but it also poses some risks.
“European Central Bank in a fully independent regime is evaluating benefits of creating an ECB digital currency for European citizens and world economy.
However, creating of this currency poses certain risks, for example it can change the system of bank monitoring and its influence on the real economy, as well as harm the balance and functioning of the global financial system, that is why this question needs further investigation.
Our goal is creating an innovative, secure and integrated payment system in Europe”, — Lagarde said.
USDT replaced Bitcoin Cash in cryptocurrency rating
Token of Tether company got the fourth position in the rating of cryptocurrency capitalization, having replaced Bitcoin Cash. The market capitalization of USDT currently is $4,08 billoion, and that of BCH — $3,86 billion. Bitcoin’s rate fork declined to $212,75, and stablecoin is traded at the level of $0,994.
Stablecoins are usually strengthened during periods of cryptocurrency market downturn,s as investors minimize risks and go into fiat analogues.
Bitcoin will be made less centralized
Braiins, the company behind one of the largest bitcoin mining pools, created a protocol Stratum V2 which should remove centralization of the network. Currently, only three mining pools control over 50% of bitcoin’s mining power, which creates a threat of centralizing transactions of 51% attack.
To prevent this, Stratum V2 suggests “job negotiation” regime. Now instead of operators, miners themselves will decide which transactions to include into blocks.
“If this protocol does everything it promises, ‘mining centralization’ as an argument will be completely dead,” — bitcoin developer Jimmy Song said.