Bitcoin hashrate network is recovering, Italy has recognized the legal power of the blockchain. Bakkt trading platform will not be launched on March 12.
In February 2019, the mining capacity of the Bitcoin network began to grow. Hashrate reached a level of 50 EH/s, which corresponds to the figures of November 2018. Experts say this is a positive signal for investors. Miners believe that the price of cryptocurrency in the near future will move upward.
As a confirmation of these words, the indications of the MVRV indicator (Market Cap versus Realized Cap) are given. Its minimum value of 0.56 points was noted in January 2015, after which the rapid demand for cryptocurrency began. Now the MVRV value is 0.77 points, which is very close to the historical minimum. Against this background, the growing bitcoin hashrate of the network may turn out to be a precursor of a new uptrend wave.
Italian lawmakers have equalized the rights of the blockchain with notaries and certification bodies. Now smart contracts on the blockchain will be considered legal verification of accounting and other documents at the time of transaction.
However, we are not talking about the use of smart contracts in practice now. Now it is necessary to develop technical conditions under which the entered data will be legally binding. It is expected that the blockchain in Italy will be used in various areas of life. So far, lawmakers are most interested in its application in elections, for which the search for technological solutions is being conducted.
During the discussion of the results of 2018, ICE head Jeff Sprecher announced that the Bakkt platform will be launched during 2019. He said that this is a very long-term investment, which is more like an infrastructure project. In total, ICE has invested from 20 to 25 million dollars in it, and the total expenses of 12 investors amounted to $ 182.5 million.
Earlier in the network appeared information that Bakkt will start to work on March 12. However, the bakktplatform.io website was fake, and the data provided there was full of inaccuracies. However, Bakkt effectively used the past tense. The number of company employees has tripled. Although the SEC has already postponed decision making twice, there is no doubt in success.