Satoshi Summary- Thursday June 18, 2020

Image by Pete Linforth from Pixabay

by Sharon Moran

June 18, 2020

Satoshi Summary is a Cryptobellum exclusive named in honor of the pseudonymous creator of Bitcoin. It provides a carefully curated look at the most noteworthy developments in the blockchain and cryptocurrency space.

In a move that pays homage to (whether intentional or not) the early programmers who used punch cards, a Belgium-based hardware wallet manufacturer, NGRAVE, recently released a metal punch-card solution for storing seed phrases.

When a Bitcoiner loses wealth, it’s usually because the hard drive containing his/her private keys ends up in a landfill. Apparently, Ethereum users skip the landfills in favor of wealth redistribution to Ethereum miners in the form of generous transaction fees. Last week, someone paid over $5 million to transfer just $82k in value. Really, though, as Office Space character Michael Bolton knows, it seems like an ideal way to “conceal the source of money by channeling through an intermediary.”

“Let there be light.” No, Electroneum CEO Richard Ells is not God despite the sizeable and steady number of diehard ETN fans, but ETN will soon offer users in four African countries in-app electricity purchases. This summer Electroneum users in Nigeria, Mali, Gambia, and Senegal will have the ability to top-up utilities via the app.

If adulting is too much on some pandemic-restricted days, you might enjoy newly launched Furucombo, which is basically legos for adults. Furucombo allows non-technical users to take advantage of no-code flashloans. Note: Due to limited liquidity on the decentralized exchanges Furucombo offers, it’s very difficult to capture profitable arbitrage opportunities. If arbitrage is your intended reason for using Furucombo, you might be better off devoting the time to learn Solidity to have maximum flexibility using flash loans.

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Cryptobellum is a digital publication of Telesto Studios, LLC focusing on the cryptocurrency market and the underlying blockchain technology that fuels it. Created and managed by Sharon Moran, Cryptobellum also provides original features and covers AI and other technological advancements.