Research: Developers are leaving EOS, Bitcoin Cash, and Tron
Over the past year, the activity of developers of several blockchain projects has significantly decreased. EOS (85%), Bitcoin Cash (63%) and Tron (51%) were anti-leaders in terms of the number of developers who left projects, according to a study by Outlier Ventures.
Have you checked our first '#Blockchain Developer Trends 2020 report' yet? We've indexed millions of commits across thousands of repositories to compile a report on blockchain #developer activity over the past year. @theo \ _turner Download it here https://t.co/VUybph91ef pic.twitter.com/0sDp4Q77uP - Outlier Ventures (@OVioHQ) June 13, 2020
According to researchers, the decline in EOS developer activity may be due to a drop in interest in the project since the launch of its main network. Along with the exodus of developers, the number of updates to the project's codebase on GitHub dropped by 94%.
The main factor for Tron, which code is updated 96% less often than a year ago, is the negative market dynamics.
At the same time, new players in the field of decentralized applications (Dapps) have shown growth. The Polkadot project is supported by 44% more developers, and their number in the Cosmos ecosystem has grown by 15%.
Researchers also pay attention to projects Theta and Cardano - the source codes of these two projects began to be updated more often by 930% and 580%, respectively.
Block.One raised over $ 4 billion to launch the EOS network. Since mid-2018, when the year-long ICO of the project was completed, developers have launched 326 functioning decentralized applications, which is only 9% of the total number of Dapps in the blockchain industry. Ethereum remains the leader in this indicator, accounting for 80% of Dapps.
Recall that in May, researchers at UCL Blockchain and Imperial College London concluded that most of the transactions in Ripple, EOS and Tezos are devoid of economic sense.
While the trading volume for BTC futures has dropped to a minimum, open interest is growing
Bitcoin trading volume on futures exchanges fell to a new 2020 low, according to data from the Skew analytical platform.
On June 13, the volume of trading in bitcoin futures for the first time in 2020 amounted to less than $ 5 billion. Of this number, 76% of transactions were made on OKEx, Huobi and Binance - $ 1.4 billion, $ 1.3 billion and $ 1.1 billion, respectively. For two days in a row, volumes fell by about half after jumping above $ 20 billion on June 11, when the price of bitcoin fell from $ 10,000 to below $ 9,300.
At the same time, the volume of active positions in the futures market recently returned to $ 4 billion. The value has not been at this level since the collapse in mid-March.
Open interest in bitcoin options continues to update its own highs and now stands at more than $ 1.5 billion. The Chicago Mercantile Exchange (CME) made a significant contribution to the total figure, whose share in open interest has risen from 2% to 23.22% since the beginning of May.
The open interest in options on Ethereum of the Deribit exchange is also growing. During the last week, it exceeded the $ 150 million mark for the first time. The previous maximum was recorded a month ago at levels two times lower.
Ethereum developer Virgil Griffith filed a motion to dismiss the claim in the DPRK conference case
Griffith was arrested by the FBI in November 2019 after visiting North Korea to report on cryptocurrencies in April. According to the authorities, he provided the leadership of the sanctioned state with valuable information on how to use cryptocurrency technology to circumvent current restrictions. Griffith, in turn, insists that he conveyed "a very generalized information based on publicly available information."
When considering Griffith's petition, the court will have to determine whether making a relevant presentation is a violation of the sanctions requirements. The developer claims that he did not receive payment for his attendance at the conference and did not have the status of a consultant, and therefore did not officially serve the DPRK leadership. In addition, the first amendment protects his right to make such speeches, he argues.
Griffith also insists that his speech is subject to exceptional conditions under the law on economic powers in case of international emergencies for the dissemination of "information" and "information materials."
In January, Griffith was released on bail of $ 1 million. The proceedings against him are ongoing.
US IRS Updated Recommendations for Reporting Cryptocurrency Transactions
In the latest version of the Personal Income Tax Form 1040, the IRS has clarified what cryptoassets and transactions need to be disclosed. According to the new principles, if a user only owned a cryptocurrency, but did not trade it during 2020, then he can answer "No" to the question of trading, selling or receiving crypto assets in another way.
The updated guidelines provide specific examples of cases that fall under receiving, selling, sending, and exchanging cryptocurrencies. Crypto assets received for free during hard forks are considered taxable assets. As well as the exchange of cryptocurrencies for goods, services or "other property, including another virtual currency."
“Transferring crypto assets between wallets, such as transferring money to an exchange and back, is considered a transfer for administrative purposes,” said Shehan Chandrasekara, head of tax strategy at CoinTracker.
Thus, users may not report transfers between personal wallets, as this does not represent a sale, exchange or purchase of cryptoassets. At the same time, Chandrasekhar noted that the approach of the IRS as a whole has not changed, but rather clarified it:
“The IRS just once again clarified the taxation of crypto assets. This shows that for the IRS, transactions that are reflected in tax reporting matter. At the moment, the IRS does not seem to be interested in the amount of cryptoassets users hold. You are not required to disclose information about them anywhere if no taxable transactions took place. ”
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