Salvation from the Cryptokitties hogging up the network successfully tested

Plasma protocol tested to provide near-instant Etherium transactions
28 December 2017   1230

By now everyone heard of Cryptokitties. The collectible game had taken Etherium network by storm and the popularity hasn't decreased since its launch in December 2017. And the point of the collectible game is to gather, trade, breed unique kitties and boast how much of them you have and how rare they are.

The problems arose on the first days since launch, because Cryptokitties utilize main Etherium network and, therefore, operations have to be computed alongside fund transactions. What have previously taken mere minutes to complete now has to wait for a break in kitty-actions. And kitties are quite a hungry bunch! They take up to 20% of total Etherium traffic by now. All of that leads to rise in gas prices, because users try to push their transactions for a faster confirmation.

But fear not, because salvation is near. Bankex is developing a new protocol – Plasma – to offload the transactions from the main chain, akin to Lightning/Raiden network. The underlying technology is quite simple – users have to transfer funds from main network to BANKEX daughter network and after that the company resolves any operations via a smart contract to remove the user-to-user operations from equation, so there wouldn't be any problems encountered in Raiden with their disputes between end users.

During the first test of Plasma protocol on Rinkeby network the transaction per second ratio was about 5 thousand, which is already 250 times faster than main Etherium network. The final working version of Plasma will support up to 100 000 transactions per second. And all of that at no cost!

So, fear not, the Kitties will be brought to heel and money will flow, just wait a little longer

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   207

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.