Saudi Arabia and the United Arab Emirates will launch a cross-border cryptocurrency, BitGo's custodial service for large investors. Hardfork Constantinople Ethereum was postponed.
At a meeting of the coordinating council of Saudi Arabia and the United Arab Emirates held in Abu Dhabi, it was decided to intensify work on the creation of cross-border cryptocurrency. It will be used exclusively for bank settlements between the two countries.
Successful implementation of this project will allow other countries in the region to be involved in cooperation in the future. As the Emirate News Agency reports, the preliminary work from Ripple Labs can be the basis for the new payment system. Now it is the projects of this company that are most optimized for the implementation of such projects on an international scale.
Cryptocurrency company BitGo plans to launch a service for storing cryptocurrency by the end of January 2019. For this purpose, only “cold” wallets will be used, which provide maximum security.
The company plans to support 101 cryptocurrencies, but in the future their number may be changed. According to the US SEC regulator, the problem of storing assets is one of the most critical at the moment. According to consolidated data, in 2018, cryptocurrency worth $ 864 million was stolen from only the 50 largest trading floors. Since the “cold” wallets are not connected to the Internet, it is impossible even to theoretically steal funds from them.
After ChainSecurity revealed a critical vulnerability in the updated Ethereum network protocol, it was decided to postpone the launch of the Constantinople update. And this was done just a day before the onset of a long-awaited event.
Now hardfork will take place on the block 7800000. It is expected that until February 27, developers will be able to solve all technical problems. And this time the fork will take place in two stages. At the first, the planned updates will be launched, and immediately after that a “patch” will be released for the detected vulnerability. It is worth recalling that for the first time the developers planned to launch hardfork Constantinople in early October. However, work on the test network revealed technical problems leading to uncontrolled separation of the blockchain.