Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
The U.S. banking giant is taking another step into the crypto space amid growing optimism around Ethereum for its long-awaited upgrade ‘The Merge’.
El renombrado banco de inversiones de Wall Street, Goldman Sachs, is looking to expand its over-the-counter (OTC) cryptocurrency trading.
A few weeks after Goldman to become the first U.S. banking giant to become the first U.S. banking to carry out an OTC trade in an instrument linked to Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. the financial institution has now revealed that it plans to expand this offering to include Ethereum a decentralized open-source blockchain with smart contracts functionality. .
El jefe global de comercio de criptomonedas del banco, Andrei Kazantsev, adelantó los planes durante un seminario web esta semana, según reseñó Bloomberg . At the virtual event, Kazantsev told the customers of Goldman that the bank plans to launch over-the-counter trades in second-largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. by market an area or arena, online or offline, in which commercial dealings are conducted. cap ” a su debido tiempo “.
While the executive did not offer a definite date for the launch, the idea had already been floated in December of last year during a webinar conducted by CoinDesk as he recalledThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.. At the time, Kazantsev discussed the development of options markets as the next big step for the digital currency currency is a medium of exchange that defines value. space.
Goldman Sachs and cryptocurrencies
The announcement comes as the New York-based bank is expanding its efforts to enter the burgeoning cryptocurrency market.
As reported by DiarioBitcoin , Goldman negotiated an instrument linked to Bitcoin called ‘non-deliverable option’ in partnership with digital asset finance company Galaxy Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. . The move, which took place in March, marked the first time a bank in the country conducted an OTC oTC, or ‘Over The Counter’ is trading that happens directly between two parties, with no exchanges or trading platforms involved. cryptocurrency trade.
A year ago, Goldman reabrió su mesa de negociación de criptomonedas después de una pausa de tres años y también ha estado ofreciendo a sus clientes interesados access to a fund of Ethereum issued by Galaxy Digital. More recently, the bank indicated that it plans to offer a “ full spectrum ” of investments in digital assets, which could include spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. options.
The bank’s efforts to expand its offerings within the crypto space appear to come in response to growing customer demand. According to a survey published by Goldman in March In addition, 60% of their clientele expressed intentions to acquire more digital assets in the next two years and increase their current market share in that market.
Optimistic view on Ethereum
The latest move by Goldman toEther the form of payment used in the operation of the distribution application platform, Ethereum. also comes at a time of great optimism around the asset. The price of the second-largest cryptocurrency has risen nearly 30% in recent weeks amid advances and expectations for its much-anticipated update “The Merge“, que verá a la cadena de bloques pasar de un mecanismo de consenso de prueba de trabajo (PoW) a uno de prueba de participación (PoS).
The Mergealso known as the “ Fusion “is perhaps the most important technical update to the Ethereum since its inception in 2015. Following this development, the network a network refers to all nodes in the operation of a blockchain at any given moment in time. expects to reduce its carbon footprint by more than 90% after abandoning its current mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. mechanism for one that uses less energy, while improving its efficiency and scalability.
Analysts, developers and traders in the community have been anticipating this big change. Among them, reputed investor Mark Cuban recently expressed that it’s “ very optimistic “ with the update of Ethereum . The owner of the Mavericks who has called himself a “ maximalist ” of Etherbelieves the change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. will be positive for the project because of its environmentally friendly stance, as well as possibly bullish for ETH because the merger “ possibly make it deflationary “.
A recent report byBloomberg Intelligence quoted byMarketWatch was also optimistic with the upgrade and estimated a price of USD $6,000 forEther. As of press time, the cryptocurrency is trading at around USD $3,250.
- American Bank to offer Bitcoin and Ether trading to customers after partnering with Bakkt
- Jamie Dimon, CEO de JPMorgan, reconoce que DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. y Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. son “tecnologías reales” con utilidad
- Ethereum developers successfully achieved ETH2 “Merge” test on Kiln testnet an alternative blockchain used by developers for testing.
Article by Hannah Estefania Perez / DiarioBitcoin
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