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On today's show:
We are going to check in with the growth of the Lightning network
We are going to get some good news from South Korea so our friends over there can get back to cryptocurrency trading
A new version of the Ethereum yellow paper is out
And we’ll take a quick look at the Bitcoin price chart
Story - Lightning Watch 0:48
https://lnmainnet.gaben.win/#
https://p2sh.info/dashboard/db/lightning-network?orgId=1
https://docs.google.com/spreadsheets/d/14EN_vpbeLeQNFTNJ8DJbayZX33wlRINW-oQfJjveScI/edit?usp=sharing
Today’s stats.
The network capacity grew by 42% in the last 24 hours.
https://fork.lol/tx/fee
Bitcoin fees are also dropping and sit at 154 satoshis per byte over the last 24 hours.
http://segwit.party/charts/
Oddly enough Segwit has dropped below 10% of transactions today having hovered between 10 and 12% over the last week.
Story - Great News For Korean Crypto 2:56
https://news.bitcoin.com/korean-crypto-exchanges-share-data-with-banks-new-account-system/
Rather than an effort to outright ban crypto trading, South Korean authorities seem more interested in making sure that trading isn’t done anonymously.
I have no doubt that crypto trading volumes from Korea have dipped recently and been a factor contributing to the falling prices.
Anyway, the South Korean government has come forward with the names of six major banks that are willing to provide services to cryptocurrency exchanges.
The catch is that the exchange will have to share data about their users.
This includes both personal details and transaction details.
So the name on the bank account will have to match the name on the cryptocurrency exchange account to prevent anonymous trading.
Because this name matching is required, that’s why the exchanges have to share data with the banks.
It says here this new system will be in place by the 30th of January but there’s a possibility some of them may have it up and running before then.
The benefit to the government is also that they can make sure all the crypto activity in Korea is taxed.
If they can’t get your crypto trading information from the exchange, they can get it by going through your bank.
Story - New Version Of Ethereum Yellow Paper 5:45
https://github.com/ethereum/yellowpaper/blob/master/README.md
This document is the formal definition of the Ethereum protocol and was originally written by Gavin Wood.
It says here that it is now maintained by Nick Savers and contributors.
If you like getting back to the fundamentals, or if you’ve never read the paper before then I’ll leave a link in the show notes.
https://ethereum.github.io/yellowpaper/paper.pdf
At 37 pages, it’s relatively short and it is actually on yellow paper would you believe?
This version is dated the 22nd of January 2018 so it’s right up to date.
Just be warned though, it’s a technical document with a lot of math formulas in it.
