Looking at the overall picture, the volume of transactions in the network grew quite quickly. This trend has been observed for several years. Despite this, several abrupt, but minor drops, all same was. This is certainly a steeper decline, but it is not just because of less economic activity.
BTC users will soon experience the future improvements of the network. The use of SegWit is constantly growing, which has a positive impact on the network. Together with Lightning Network, these two events should gradually have a positive impact on the BTC network from the technical side.
At the same time, retailers are showing a new interest in this cryptocurrency. This is despite the price volatility that many people are now worried about. When users restore their crypto-currency reserves, the total volume of transactions will increase. Users will also benefit from lower payments and even micro-payments.
In particular, traders in South Korea are interested in Bitcoin transactions. However, it may take some time until things improve.
According to the national audit office of China (NAO), the exchange and trade in cryptocurrencies deceive users. Therefore, the Agency warns users about the risks of such investment.
Officials accuse 60 crypto-currencies of manipulating prices, deceiving investors in especially large sizes. Government analysts have audited the activities of exchanges and learned that the sites still do not have the technologies that they claimed before. And they exchange the tokens (e.g., coin BNB from crypto currency exchange Binance) do not have a "functional currency".
The Chinese government can be blamed for escalating the situation and continuing to put pressure on the market. Moreover, it is not reported how the study was conducted and what exchanges are in question. But the exchange does not protect its users and does not care about security. Some believe that exchange and trading platforms are already under the control of the traditional financial market, which will destroy them.
Recently, a group of journalists from Shanghai had the opportunity to learn about a secret project during the summit Global Blockchain forum, this information is provided by sina.com.cn. The report sheds light on the scale of the government's efforts to create a national cryptocurrency.
The Ministry of industry and information technology of China last week reported that a study has already been conducted which examines the foundations for standardization of Blockchain technology in the domestic market. The information and software services division of the Ministry and the China electronics standardization Institute proposed the creation of a new Committee.
China Blockchain technology research Institute has filed a patent application for 22 new technologies.
According to the head of the technology sector of the Central Bank Zhang Hefeng, the development of basic technology and work on the digital billing business of the Central Bank have already been completed.
Translated from russian community ''Крипточайник" by Damir Koshkarov
