On September 16, the Bitcoin Unlimited development team launched a new application called Votepeer. The software is powered by the Bitcoin Cash network and allows anyone to set up a transparent two-option voting process.

This week a couple of Bitcoin Unlimited (BU) developers released a new voting protocol called Votepeer. BU software engineers, Dagur and Jørgen Svennevik Notland, revealed the initial version of Votepeer, which can be located at the voter.cash website.

“Votepeer is powered by Bitcoin Cash and allows anyone to easily set up a two-option vote using the simple and transparent voting protocol,” the project announcement details. "Participating, verifying, and tallying can be done through the SPV (Simple Payment Verification) technology in use in most bitcoin cash wallets and therefore does not require a full node."



The announcement published on the bitcoin cash (BCH) powered blogging platform read.cash, explains that the new release concludes the initial phase of BUIP129. During the second phase, BU developers will study more in order to "make anonymous voting possible."

"The third phase of the project is to build the technology into an easy-to-use app and release it publicly for general use," the announcement notes.

"Hopefully, we can make online elections safer," said Jørgen Svennevik Notland. “We are currently in research and development mode, open-sourcing our tools and apps as they mature, and a paper. Our current research item is to figure out how to make the election process in the two-option Voterpeer smart-contract anonymous. ”



The developer also detailed that individuals who are interested in contributing to Votepeer can reach out via Keybase.io. The engineers also said that the team released voter.cash now so the project can locate partners who will benefit from this type of voting technology.

"We look forward to all the interesting ways the cryptocurrency community can use this technology to supercharge their governance processes," the BU devs concluded.



On social media and crypto oriented forums, BCH proponents seemed to like the Voterpeer project and the blockchain voting concept. The release comes 47 days prior to the U.S. Presidential election between Donald Trump and Joe Biden on November 3. Already, thanks to the vast number of mail-in ballots this year due to Covid-19, many Americans think the vote will be an utter calamity.

A few members of the BCH community discussed governments leveraging a platform that utilizes blockchain technology. Meanwhile, a few other crypto supporters recommended ideas to the BU team that could allow the protocol to execute building out a multi-choice voting process.

What do you think about the Votepeer project released by BU software developers? Let us know what you think about this subject in the comments below.



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BCH, BCH Technology, bitcoin cash, Bitcoin Unlimited, BU devs, Dagur, Donald Trump, Election, Joe Biden, Jørgen Svennevik Notland, Keybase.io, vote, voter.cash, Voting, Voting Process, voting technology

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Ethereum Transaction Fees Fall 82%, as Defi Hype Eases

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Defi Economy Rebounds: Total-Value Locked Jumps 28% Capturing Close to 9B





, The total-value locked (TVL) in decentralized finance (defi) economy has recaptured much of the value lost during the Sushiswap fiasco last week. At the time, the defi TVL tumbled down to $ 6.8 billion from the $ 9.6 billion high on September 8, suffering a loss of close to -29%. Since then, however, the rise northbound has been parabolic, as the defi TVL has climbed 28% so far, with locked value rising to $ 8.75 billion on Thursday morning (ET).

Last week, the anonymous creator of Sushiswap caused an uproar within the decentralized finance (defi) community after cashing out some tokens meant for the project’s future development.

At that time, the total-value-locked (TVL) in defi was inching toward the $ 10 billion realm, when it crossed $ 9.6 billion on September 8. However, the TVL shed a decent amount of value after the Sushiswap incident and the price of ethereum (ETH) tumbled by 30%.

EfDefipulse.com stats show the total-value locked (TVL) hovering around $ 8.75 billion on Thursday, September 17, 2020.

Today, according to defipulse statistics the current TVL on Thursday, September 17 is $ 8.75 billion with the defi lending platform Aave capturing 15.3% of the TVL dominance. This is followed by the defi platforms Maker, Curve Finance, Uniswap, and Sushiswap.

On Thursday morning (ET), the crypto community has been discussing Uniswap’s UNI token, which saw 60% of UNI’s genesis supply allocated to Uniswap community members. Since the launch, Coinbase Pro announced UNI support on the exchange and the crypto platform Binance also listed the token a few hours after the release.

TopThe top six projects in the decentralized finance (defi) space include Aave, Maker, Curve.fi, Uniswap, Sushiswap, and Balancer.

The Uniswap team says 21.51% will be reserved for future employees and developers with a four-year vesting period. 17.80% of the UNI supply will be distributed to investors with a four-year vesting timeframe as well.

The UNI launch announcement notes that the token will be leveraged for a governance treasury and governance will have access to the allocation on October 18. Uniswap’s governance token airdrop contributed to ethereum (ETH) miners capturing a lot of money in transaction fees.



"Following Uniswap Protocol's announcement of the UNI token today, Ethereum saw a massive surge in miner fees," the data analytics firm Glassnode tweeted. “Almost $ 1M USD in fees were spent in a single hour. This is a new record high (anomalous tx fees excluded earlier this year). "

Last Saturday, the Yearn Finance (YFI) token touched an all-time high reaching $ 43,678 after Coinbase Pro announced listing the defi crypto asset.

EfDefi users since news.Bitcoin.com’s defi report at the end of August shows the number of unique addresses over time grew by 17.78% from 388,011 users to 457,012 users on September 13.

The token has been very popular among the yield farming community and notoriety for YFI’s price per token surpassing bitcoin (BTC) in value. Although YFI has lost -27.34% since the Coinbase listing announcement and the token is currently swapping for $ 31,736 per coin.

Decentralized exchange (dex) platforms saw $ 5.2 billion in global swaps during the last seven days.

Since news.Bitcoin.com's recent study on the defi economy on August 29, the total defi users over time jumped 17.78% from 388,011 users to 457,012 users on September 13. Defi-based decentralized exchange (dex) action has seen 5.2 billion in global swaps during the last seven days.

Dune Analytics data shows dex volumes during the last 24 hours was around $ 645 million. Uniswap is still the top dex in terms of volume exchanged capturing over 60% of the week’s trade volume.



With this week’s defi TVL rebound closing in on the highs it saw last week, it goes to show that the defi economy isnt letting up any time soon.

Meanwhile, ethereum (ETH) has regained much of the coin’s losses at the crypto asset trades for 383 per ether at the time of publication. Since last week’s report concerning 68 new whales joining the ETH network, the large concentration of ETH holders added another 1% to the aggregate tally.

What do you think about the defi ecosystem regaining momentum this week? Let us know what you think about this subject in the comments section below.



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Binance, Bitcoin, BTC, Coinbase Pro, decentralized finance, DeFi, defi economy, Defipulse, DEX, Dune Analytics, ETH, ether, Ethereum Network, governance token airdrop, Sushiswap, total value locked, TVL, UNI, uniswap, Yearn Finance, YFI

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Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding





The Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy.

In a statement released via Twitter on September 14, the country's Prime Minister, Abiy Ahmed Ali announced the unveiling of the "new Birr notes for 10, 50 & 100 denominations, with the introduction of a new Birr 200 note."



Meanwhile, a report says the government plans to spend about $ 97 million (3.6 billion Ethiopian Birr) printing the new notes. On the other hand, Ethiopian citizens are expected to replace their old notes within three months.

The Ethiopian government’s decision to demonetize follows persistent calls for such a move by Ethiopia’s Bankers Association. The bankers contend that the $ 3.05 billion circulating outside the banking system has "exacerbated the liquidity problems commercial banks have faced this year."



The report also quotes Wasihun Belay, a development economist based in Addis Ababa who acknowledges that while "changing currency is costly and expensive" he still argues that "it is very important to the economy." The development economist adds that “introducing new denominations is a step in the right direction” and says “500 and 1000 notes” must be introduced as well.

The Ethiopian economy, which has been hit by the global pandemic Covid-19, faces increased inflationary pressures after the figure topped 20% in August. This follows increased printing of currency to finance the country’s budget deficit. Both the World Bank and the IMF have now downgraded the country’s forecasted annual growth to 3.2% from 7.2%.

Still, Yinager Dessie, governor of the National Bank, is optimistic that the "introduction of the new notes is going to be instrumental in reducing cash-based transactions." In August, the National Bank introduced cash withdrawals and limits on withdrawals as it moved to influence activity in the informal economy which "has a substantial share in the economy."

Ethiopia last demonetized its currency at the end of the Ethiopian-Eritrean deadly civil war two decades ago.

What do you think about this move by the Ethiopian government? Share your thoughts in the comments section below.



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Abiy Ahmed Ali, cash hoarding, cash-based economy, demonetization, Ethiopian Bankers Association, Ethiopian Birr, Ethiopian Prime Minister, illicit financial flows, IMF, Inflationary pressures, Liquidity, World Bank

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter,

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Kiss' Gene Simmons Tweets Cryptic Message About His Bitcoin Plans





Rock band Kiss ’lead singer Gene Simmons has tweeted a cryptic message about bitcoin in response to a discussion on making cryptocurrency accessible to the masses. Simmons previously said he was interested in bitcoin, noting that its price goes up every time people think it’s dead.

Gene Simmons ’Bitcoin Tweet

Gene Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the frontman, bassist and co-lead singer of Kiss, the rock band he co-founded with lead singer and guitarist Paul Stanley. According to IMDB, Simmons has appeared in films and TV 116 times.

He caught the attention of the crypto community on Tuesday when he tweeted a cryptic message in response to a thread about making bitcoin and ether accessible to the masses. Gemini cryptocurrency exchange founder Cameron Winklevoss started the thread by tweeting: “Technology won’t end racism. But it can remove bias from some interactions. " He added: “This is why I love Bitcoin and crypto. It’s permissionless. It’s unbiased. Math doesn’t care about the color of your skin, gender, orientation, etc. ”

After multiple tweets on the subject, the exchange founder admitted that “getting people into this new system is the biggest challenge we face as an industry… It’s easier to buy bitcoin and ether if you are already in the old system. If you don’t have a bank account, it’s hard to get funds into crypto. We need to change this. ” Simmons, who has 896.4K followers on Twitter, responded with a short tweet that reads: “I will. I am. ” At the time of writing, his tweet has been liked 1.4K times.



While many people saw Simmons ’tweet as bullish, expecting mass adoption to follow, several asked him for an explanation of what he plans to do. Some tweeted asking when the Kiss coin would come out, while others speculate that he has a plan to boost bitcoin adoption. However, Simmons did not clarify further on the subject.

Other comments flooded the thread with suggestions of how the mass adoption of bitcoin can be achieved, such as installing more bitcoin ATMs. Some mentioned existing services that try to make it easier for everyone to get into bitcoin, such as Cash App.

Tuesday was not the first time the famous rock singer talked about bitcoin. In September 2017, he told The Street in an interview that he was interested in bitcoin. While emphasizing that he preferred to be diversified with his investments, the former Kiss lead singer told the publication:

I am interested in bitcoin, but only as a piece of the (investment) puzzle.



When asked whether he would follow in the footsteps of other celebrities - such as Paris Hilton and Floyd Mayweather - and attach his name to bitcoin, he “left the door open,” conveyed the news outlet. He also responded to a question about the possibility of launching his own coin, which was the hype at the time of the interview. “Kiss coins? Sure, you can talk me into it, ”Simmons said.

In April last year, he bumped into Morgan Creek Digital partner Anthony Pompliano at a crypto event. Pompliano, who tweeted their encounter, said that "This guy gets it," quoting Simmons as saying