The State of the Market: It appears that Bitcoin (BTC) has largely diverged from other top cryptocurrencies as it continues to consolidate and sustain its recent gains amidst a sea of red for lower market cap coins. Bitcoin’s weekly and monthly gains are in the green, with respective gains of 0.5% and 20%. In addition, Bitcoin dominance continues to rise and has grown by over 1% in the last 24 hours up to 45.7%. Ethereum (ETH) has been in relative decline and is currently trading at just under $450 — with a loss of 4.6% on the day.

1) The South Korean electronics manufacturing giant Samsung recently announced that its 31 Baltic stores will now accept multiple cryptocurrencies for payment through the blockchain-based CopPay platform. CopPay supports a number of cryptos including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), and it allows merchants to either keep the cryptocurrency in a cold wallet or immediately convert it to its corresponding fiat value. Samsung has also stated that the system will soon be live on its internet stores, marking an important signal for wider adoption (read more).

2) Through its financial regulator the Financial Services Commission (FSC) the government of South Korea recently established the Financial Innovation Bureau, a task force that will monitor the adoption and implementation of blockchain technology. The new task force comes amid reports that the FSC is planning to conduct an organizational restructuring to ensure the country proactively responds to financial innovations. Although specific details are scarce, the task force is expected to create policies for financial innovation (read more).

3) After migrating to its own Blockchain, EOS has now announced version 1.1.0 with scalability and usability for developers in focus. With EOS theoretical network’s capability to handle 3,097 transactions per second it has drawn comparisons with Visa, however, the data shows that this may be an overestimate of the platforms real word capabilities. In addition, the EOS network is only used by a few hundred participants. Finally, the increase in EOS RAM pricing has made the development of dApps with multiple users on the network prohibitively expensive. The new version seeks to address these issues (read more).

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