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version of us DT is expected to launch sometime in the next quarter tether is the world’s most populous tablet coin and is a top 10 cryptocurrency by market value according to kin market cap however questions have long existed about whether the cryptocurrency is actually backed by US dollars at 1 : 1 ratio while the company has promised to hire an order to do very fine its holdings it has yet to do so after parting ways with Friedman LLP last January Bahamas based Deltek Bank & Trust which provides banking services to the company did release a letter verifying that anther had an account and maintained assets worth 1.8 billion dollars at the time total u.s. DT tokens in circulation and up to a little over two billion dollars at press time asked if drawn had any concerns about these questions a representative referred coined as to a Bloomberg report which suggested the company had sufficient holdings to back the total number of u.s. DT tokens in circulation at least for a four month period Tron CEO Justin Sun said in the announcement that the collaboration with tether to bring at us DT TRC 20 token to Tron will bring incredible stability and confidence to users these users will be able to easily redeem their tokens for US dollars he added thanks for watching the ohio bitcoin comm bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither a ohio bitcoin calm nor the author is responsible for any losses or gains as the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more bitcoin headline news analysis soon caution and crypto custody convenient companions Noel Atchison is a veteran of company analysis and member of coin desks product team the following article originally appeared an institutional crypto by coin desk a newsletter for the institutional market with news and views on crypto infrastructure delivered every Tuesday sign up here not in the big stakes world of institutional custody it pays to be cautious in the fast growth world of crypto assets though this can be a barrier leaving late comers with underperforming returns as infrastructure providers scramble to catch up with those that were braver or at least so the legend goes in crypto however things are generally not as straightforward as they seem and with custody of crypto assets the scramble for volume is checked by the outsized risk to both reputation and client wealth last week fidelity digital assets president Tom Jessup gave an update on the platform’s planned rollout of services and hinted that it would not be offering custody support for ethereum at first due to uncertainty over its recent and planned hard Forks this caution highlights some of the intrinsic difficulties of the emerging world of crypto assets and goes a long way toward explaining why institutions are taking longer than the market expected to enter the sector crypto asset custody is riskier and more complicated than most of us realize what’s the problem first let’s review what at hard fork is a change to the underlying characteristics of a blockchain after which mind blocks will not be recognized on the old chain the old chain can continue to grow independently though with blocks produced by miners who have opted to stay with the unchanged technology hence the term fork as the blockchain splits into two versions now let’s separate Fidelity’s concerns regarding ethereum from the potential problem that blockchain splits in general pose for custodians the ethereum blockchain recently underwent a hard fork to upgrade the technology and implement a few strategic changes no hands-on action was needed from custodians or ether holders and by all accounts the switch went smoothly hard Forks do bring additional risk however will the new version be as robust as the old the latest ethereum fork was originally scheduled for January of this year but was delayed again at the last minute because developers discovered a potentially serious security bug imagine if they hadn’t found it in time another hard Fork upgrade is expected possibly towards the end of this year but as with this one no chain splits are expected Fidelity’s caution has been criticized as overzealous potentially leading to loss of business as institutional investors increasingly need reliable custody solutions for a range of assets not just Bitcoin but given the reputational risk in the institution’s traditional rigor when it comes to protecting client assets it can be interpreted a solid business sense is it safe contentious hard Forks when chain splits are led by developers unhappy with the original structure or a different type of problem this has happened often most recently with the recent split of the Bitcoin cash chain into two competing versions Bitcoin ABC and Bitcoin sv Bitcoin cash itself was the result of a contentious hard fork split from Bitcoin in August 2017 generally the holdings on the old chain are replicated on the new one with the new characteristics embedded custodians don’t have to support the new chain though and therefore might not custody these new assets even if their clients are entitled to them why would they decline to offer this service when on the surface it looks like a sure route to extra revenue the main reason is technological complexity and concern over security risks when ethereum hard forked in 2016 a glitch had transactions on one chain also being reflected on the other even though no transaction had been originated there imagine trying to keep track of Custody holdings in this scenario is it’s worth it another part of the reluctance comes down to straightforward business logic while it is relatively straightforward to add support for new digital assets that run on an existing blockchain such as our 20 tokens adding a new chain requires a significant amount of work will the resulting coins have enough volume and liquidity and will there be enough demand for custody going forward to justify the development expense this is one of the main factors differentiating crypt custody from that of traditional electronic securities with the latter the underlying technology is not a defining feature crypto custodian bit go for example is continually adding to their list of supported assets when it comes to hard Forks however their decision to support is based on a number of criteria including technical stability market capitalization and liquidity Kingdom trust boldly states that if there appears to be little or no value or no trading interest in the new fork Kingdom will not support the fork and institutional dealer and custodian Gemini directly does not support Forks Zappo one of the original bitcoin custodians does not commit to supporting anything other than the original Bitcoin blockchain is it mine another potential issue complicating crypto custody is that of settlement finality a legal construct that refers to the moment when sale and delivery of an asset is complete and ownership is transferred the specifics differ by jurisdiction and other details but the principle is of particular interest to custodians who need to know exactly what they are holding at all times with blockchain based assets settlement finality is fuzzy in a distributed network a transaction is final when the whole network agrees it is final in a decentralized system that relies on consensus its probabilistic in other words transactions involving assets on public block chains a rarely 100% final consensus can unwind them at least in the short term true as time goes by the possibility of that happening gets really close to zero many argue that blockchain technology makes the legal concept of settlement finality unnecessary and that final on traditional databases is at best subjective for example the regulators can wind back pretty much whatever they want to however institutions are comfortable with the current definitions and will require a similar concept in the blockchain world as the system evolves ways will be found to compensate for this but legal definitions generally take a long time to adjust even more so when regulators are still grappling with the new concept and struggling to keep up with the sector’s rapid evolution this uncertainty is unlikely to stop providers from offering services that institutional investors so clearly need but it does highlight the need for caution especially from systemic incumbents precisely the big institutions the market is so clearly waiting for they’re obviously interested and that’s encouraging but we shouldn’t expect them to Pilon enthusiastically without examining all possible risks mitigating risk is after all a large part of their job caution sign image via Shutterstock published at Sat 16 March 20 1995 [Music] [Applause]

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