Top Blockchain and Crypto News — 10/16/2020

UNI jumps 15% after OKEx suspends withdrawals due to police investigation

Cryptocurrency Exchange OKEx Suspends All Digital Assets Withdrawals Indefinitely

ryptocurrency exchange OKEx has suspended withdrawals from its platform indefinitely, as one of its multisig key holders has been held in police custody. The news about hundreds of millions of dollars worth of cryptocurrencies being trapped on the exchange shaved off around 3 percent off of Bitcoin’s price but sent UNI, Uniswap’s native token, up by almost 15 percent.

Missing key holder forces OKEx to suspend withdrawals “indefinitely”
OKEx, one of the largest cryptocurrency exchanges on the market, has announced that it will be suspending cryptocurrency withdrawals from its platform “indefinitely.”

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After Square, Coinbase Will Now Fund Bitcoin Development With a New Grants Program

n hopes of regaining the support of the cryptocurrency community after the ‘apolitical’ stunt, Coinbase has decided to fund ‘at-least’ two Bitcoin Core developers. This sponsorship act marks the debut for Crypto Community Fund, the exchange’s new grants program.

Coinbase Shows Support For Bitcoin Development
In a blog article released yesterday, Manish Gupta, EVP of Engineering at Coinbase, announced plans to sponsor at-least ‘two Bitcoin developers who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects.’ As of writing, the change has started accepting applications.

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IOTA Foundation Released IOTA Streams

IOTA Foundation announced the final release of IOTA Streams. The new service adds to the growing product portfolio of the foundation. IOTA Streams focuses on services for data sharing, security, and control on IoT devices. It’s an open-source DLT framework that is now available at the final alpha release.

Granular Data Access Through IOTA
In the IoT industry, data sharing among connected devices is a vital need. As a blockchain with a focus on IoT, IOTA always tries to provide the best options for these systems.

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Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume

A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space.

In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely it was for DEX liquidity to overtake that of centralized exchanges in a 2-year time span. 70% of those interviewed said that decentralized exchanges will not overtake centralized exchange volume due to their lack of liquidity.

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Everipedia and Associated Press to obtain election results on the blockchain

It has just been revealed that Everipedia, EOS’s famous blockchain encyclopedia, has partnered with The Associated Press (AP) to verify the results of the US presidential election, which will be uploaded on the blockchain.

The Associated Press (@ap) is partnering with @Everipedia to verify the US election results on the blockchain. When AP calls the election they will cryptographically publish the result of the election on the blockchain through our new oracle product.

— Everipedia (@Everipedia) October 15, 2020

With this collaboration, Everipedia will obtain the information of the results directly from a reliable source and then this data will be saved on the blockchain using a system of oracles.

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