China’s nationwide blockchain to add support for stablecoins | Invezz

China appears to be in the final phases of testing its CBDC, digital yuan. The country recently expanded the tests to new cities, and its central bank revealed that the coin is only used for small retail transactions at this time. In addition, recent information revealed that the country’s national blockchain project, known as BSN (Blockchain Service Network) will add stablecoin support in 2021. BSN to support stablecoins The information came from Red Date Technology’s CEO, Yifan He. Red Date Technology is a tech firm that works on BSN development. The development started last year, in late 2019. The initiative

Stablecoin use lets Ethereum surpass Bitcoin in daily settlements | Invezz

Bitcoin has been the dominant crypto project when it comes to the daily settlement value for a long time, but recently, it got dethroned by Ethereum (ETH). New research shows that the second-largest crypto project by market cap exceeded Bitcoin after seeing a massive surge of economic activity. However, while this is true for Ethereum as a project, it did not happen due to ETH itself. Instead, the Ethereum network saw an increase in the activity of stablecoins, which is where all the extra activity comes from. The new data comes from a Messari researcher, Ryan Watkins. Watkins posted the