Bitcoin wallet orbiting the Earth

In today's newsletter, we will be covering:

• a Bitcoin wallet currently orbiting the Earth at 5 miles per second

• Ethereum's Istanbul hard fork now live
• Microsoft Azure announcing blockchain token and data management service

Daily Market Summary - Bullish 

Total Market Cap: ~$202.9 billion (~0.8%)                  BTC Price: ~$7,480 (~0.5%)

24-Hour Volume: ~$52.4 billion (~10%)                      BTC Dominance: ~66.7% (~0.15%)

Notable movers: Algorand (ALGO) (~11.4%)

BTC is currently trading at ~$7,480, up ~0.8% over the weekend. Over the weekend, BTC mostly bounced within a tight range of ~$7,440 and ~$7,610. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, but is currently contesting the 100-day EMA line. RSI is at ~43.6, indicative of moderate bearish momentum (although some bullish momentum has been picking up). The MACD line has also recently crossed to the upside of the signal line. 

BTC is still trading within its lower highs and lower lows trading pattern/ channel/ zone it has been trading within since late June this year. 

Poll of the Day

When moon?

A crypto wallet built by developers at SpaceChain has been launched into the stratosphere on-board a Falcon 9 rocket on 7 Dec, becoming the first active Bitcoin (BTC) node on the International Space Station (ISS). 

For SpaceChain, the launch is a step forward in its mission of forging a strong, decentralized blockchain infrastructure high above the Earth, beyond any country's jurisdiction and above the reach of physical hardware hacks.

The company regards its nodes as a "radical new way" to make cryptocurrency transactions more secure, and the wallet "will play a small but important part in that long-term goal." Upon installation by the astronauts aboard the ISS, the node will operate for around 1 year getting multi-signature transactions through the ISS data feed.

Progress

Ethereum has successfully implemented the "Istanbul" hard fork at block #9,069,000 in its 3rd systemwide upgrade in 2019. "Istanbul" is the Ethereum network's 8th hard fork overall with the first code changes approved in June 2019.

The main issues addressed by Istanbul's 6 Ethereum Improvement Proposals (EIPs) are denial-of-service (DDoS) attack resilience (EIP 1344), interoperability with equihash-based proof-of-work (PoW) cryptocurrencies like Zcash (EIP 152) and gas costs (EIPs 1108, 2028, 2200).  

The EIPs enabled lower gas costs so as to boost the blockchain's bandwidth and facilitate zero-knowledge privacy technologies like zk-SNARKs.

To better serve you

Microsoft's blockchain-enabled cloud service Microsoft Azure announced new blockchain data and tokenization management services in a published post on the official Microsoft Azure blog on 6 Dec.

The Azure Blockchain Tokens service seeks to simplify the "definition, creation and management of compliant tokens built to industry standards" and offers pre-built templates for common uses and hosts a gallery of templates created by partners that are anticipated to be added in the future. 

Customers can now get an "end-to-end experience of easily creating and managing tokens for physical or digital assets via Azure Blockchain Tokens (preview)."

The blockchain data manager is a new Azure Blockchain Service feature meant to allow its users to capture, transform and decrypt blockchain ledger data (if encrypted), simplifying the "cumbersome task of integrating existing applications with data that sits on a blockchain ledger."

Other news 

• Ethereum's Istanbul hard fork receives support from leading cryptocurrency exchanges after its successful update.

• The Italian Society of Authors and Publishers (SIAE) has partnered with Algorand (ALGO) to develop a new blockchain ecosystem for copyright management. ©

• The research arm of Asia-based Forkast, Forkast Insights, reported that blockchain technology is quickly maturing in China.

Blockchain term of the day - Cloud Mining

Mining with remote processing power rented from companies operating outfits in countries like Iceland, where the electricity is abundant and cost-efficient, and the ambient temperature is cold year-round. Another term for this is mining contract.

Crypto calendar  

TBA         - Justin Sun's lunch with Warren Buffett

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