GitHub is set to bury Bitcoin’s code inside an arctic mountain to preserve it for at least 1,000 years for future generations. The move is apart of a wider project to preserve open-source code, and will include other cryptocurrencies.

Coinbase has invested 1.1 million USDC tokens into decentralized finance platform Uniswap and PoolTogether, boosting Uniswap’s USDC/ETH pool and increasing depositors’ potential rewards on PoolTogether.

Leading cryptocurrency exchange Binance is launching its own mining pool, following the footsteps of its competitors Huobi and OKEx.

Top stories in the Crypto Roundup today:

• GitHub to Bury Bitcoin Code Inside Arctic Mountain to Last 1,000 Years
• Coinbase Invests 1.1 Million USDC in DeFi Platforms Uniswap, PoolTogether
• Crypto Exchange Binance to Launch Its Own Mining Pool

At the time of writing, bitcoin (BTC) is trading at $6,677.21 (5.51%) with a daily Top Tier volume of $3.21 bn. As for ether (ETH), it is trading at $137.85 (4.20%) with a daily Top Tier volume of $543.86 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,269.53 (5.88%).

GitHub to Bury Bitcoin Code Inside Arctic Mountain to Last 1,000 Years

GitHub is set to store reams of open-source code in an arctic mountain in Norway’s Svalbard, an uninhabitable zone covered in glaciers inhabited by polar bears. Part of the open-source code being buried 250 meters below the mountain’s permafrost is that of Bitcoin Core. The plan, is to preserve the code for future generations.

The project, called the 2020 Artic Vault program, will see the developer community create a “snapshot” of active repositories in GitHub that will be copied onto film reels and placed in steel containers designed to last at least 1,000 years. These will then be buried in the arctic. The project’s page reads:

“As today’s vital code becomes yesterday’s historical curiosity, it may be abandoned, forgotten, or lost. Worse, albeit much less likely, in the case of global catastrophe, we could lose everything stored on modern media in a few generations.”

While the Bitcoin Core code is featured, most cryptocurrency projects stored on GitHub will also be included. These include popular cryptocurrencies like Ethereum and Dogecoin, as well as the code for BTC’s layer-two scaling solution, the Lightning Network.

The program, it’s worth noting, will be creating multiple copies of open-source code on an ongoing basis, to store the data in various formats and locations.

 

Coinbase Invests 1.1 Million USDC in DeFi Platforms Uniswap, PoolTogether

San Francisco-based cryptocurrency exchange Coinbase has invested 1.1 million USDC tokens in decentralized finance projects Uniswap and PoolTogether, in an effort to facilitate their growth.

The funds were issued through Coinbase’s USDC Bootstrap Fund, which was originally launched in September 2019 with the goal of supporting decentralized finance projects by investing directly into their protocols. Last year, the cryptocurrency exchange put 1 million USDC into money market protocol Compound and margin trading platform dYdX.

In an announcement detailing its new investments, Coinbase revealed it injected 1 million USDC into Uniswap’s USDC/ETH pool, and that it invested 100,000 USDC as a sponsor to increase USDC depositors’ potential rewards on PoolTogether.

Coinbase noted that Uniswap has grown considerably since launch, adding:

“Their constant market maker model makes it easy to launch a liquid exchange for any token, and is increasingly becoming critical infrastructure for tokens and applications that need liquidity.”

Uniswap is a decentralized cryptocurrency exchange that doesn’t have order books, and instead sees users trade against its reserves. PoolTogether, on the other hand, is a no-loss lottery. Users deposit funds that earn interest via a smart contract, and every week the earned interest is given to one lucky winner.

Crypto Exchange Binance to Launch Its Own Mining Pool

Leading cryptocurrency exchange Binance is reportedly planning to launch its own mining pool. The move was first revealed in a report published by Russian publication Coinlife, and later confirmed by three sources in the mining business and Binance CEO Changpeng Zhao. Coinlife wrote:

“The company has already hired some professionals for this purpose, some of them former Bitmain employees. The launch is planned for the Q2 2020.”

The head of the Sigmapool mining pool, Jakhon Khabilov, revealed Binance is offering potential clients “generous” referral bonuses. It follows the footsteps of its competitors OKEx and Huobi, which launched their own mining pool last year. Both exchanges’ pools are among the top 10 producing the most blocks on the Bitcoin blockchain.

What are Bitcoin Perpetual Swaps?

In your cryptocurrency trading journey, you will find there are various types of financial products out there that go well beyond just buying and selling a cryptocurrency for a profit. Among them are the perpetual swaps, a type of derivative – a futures contract – that doesn’t have an expiry date.

These derivatives let traders choose one of two directions: they can open a long position if they believe the value of the asset is going to increase, or open a short position if they believe the value of the asset is going to decrease.

Perpetual swaps can be traded on various cryptoasset exchanges offering them, but some add more protections than others. One to consider is Huobi DM (Huobi Futures), a cryptoasset derivatives trading platform present all over the world that offers users perpetual swaps with leverage from 1x to 20x, 25x, 50x, and up to 125x. It has low trading fees for opening and closing contracts.

Huobi has risk management features such as partial liquidation to help avoid disaster from overleveraged positions. It also has a 20,000 BTC security fund, an insurance fund of $500,00 for each currency before it goes live, and a $200 million wager to cover potential clawback losses.

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