This is our weekly blog with a recap of the what happened in Bitcoin in the last week. Here are the main news of the week:
Price last week: $6600
Price this week: $6700, Up 1.5%
The price is up in the $6700 range after hovering around the $6600 mark the previous week, and up from $6000 two weeks ago. No major price moving events have happened in the last week, and the price move is not very significant.
Coinbase Custodial Service
Coinbase Custody is officially open; Custody is a service offered by Coinbase that provides secure storage of crypto assets for large institutions. The service is currently offered in the United States and in Europe, with hopes to bring it to Asia by the end of the year. The mission is to make digital currency investment accessible to eligible financial institutions and hedge funds around the world.They offer a combination of cold storage for digital assets, institutional grade broker-dealer services with reporting services, and a comprehensive client coverage program.
Schnorr Signature BIP
Pieter Wuille, a Bitcoin Core developer, has submitted a Bitcoin Improvement Proposal, also known as BIP, which would allow the creation of private keys using the Schnorr signature function. Using the Schnorr would in the future allow an increase in the number of transactions the bitcoin blockchain can handle by up to 25%; the upgrade would also allow some more complex signing schemes that are simply not possible using the current signature function.