19 Chinese exchanges apply for a Japanese license

Chinese exchanges seek second chance in Japan, Singapore, Hong Kong and South Korea
28 October 2017   491

China's relationships with cryptocurrencies and ICOs have been quite tough lately. Following the crackdown by the government last month, Bitcoin exchanges in China are looking to continue their businesses in cryptocurrency-friendly countries such as Japan, Singapore, Hong Kong and South Korea.

For instance, as reported, several Chinese companies are now applying for a license to operate in Japan, the country that legalized Bitcoin as a method of payment in April. Thus, cryptocurrency exchanges are required to register with the country’s Financial Services Agency (FSA). 

There’re at least 19 companies applying for a Japanese license.
 

bloomberg.com

Still, not only Japan is a cryptocurrency-friendly place. These are the Hong Kong-based exchange, Binance, that is looking for local partners and considering acquiring an operational exchange, and Beijing-based exchange Bixin, which has also expressed its interest.

Mike Kayamori, Head of Quoine, the Singapore-based exchange with a strong presence in Japan, comments on the situation.

We’re talking to almost all of those guys. They’re all desperate now. There’s a lot of Chinese retail people reaching out to us, but we can’t handle it. So if a Chinese partner can handle all of those and they connect to us, that will be much easier.
 

Mike Kayamori
Head of Quoine

On top of that,  some Chinese exchanges are turning to Singapore. The managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, reveals that the central bank has no plans to regulate cryptocurrencies. Staying true to this "open mind” perspective, Singapore could become one of the most important countries for the development of Blockchain technology.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   134

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.
 

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.
 

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.