"Black March" left a strong mark in the history of cryptocurrency.

When we review the key nodes that affect the development of cryptocurrency industry in the future, many important events in this month will be mentioned repeatedly.

In this month, we saw the decline of cryptocurrency market and traditional financial market. The U.S. stock market broke four times in the month, and many global stock markets fell into a technical bear market. Bitcoin fell 58% to $3800 from a high of $9100 in the month, and the total value of cryptocurrency market fell nearly 49%.

The collapse of currency price affected many subdivisions of cryptocurrency industry. We can see that in the extreme market, the mining industry, defi and stable currency market are facing storms: multiple mining machines are broken through the cost price, the vulnerability of defi is exposed, and the usdt premium of stable currency is as high as 9.86%.

However, we are also pleased to see that the industry did not issue a question about the bitcoin due to the downturn. On the contrary, practitioners began to think more rationally about the attributes of bitcoin and its value in the financial market. On the other hand, we have also witnessed the efforts made by India and South Korea in promoting the development of cryptocurrency market, which will also provide impetus for the acceleration of maturity of the entire cryptocurrency industry.

At this moment, select the top 10 hot events in the blockchain industry in March to help you quickly understand the great changes in the industry in the past month.

Connected to part 1

6. The etc is halved and the block reward is reduced to 3.2 etc

On March 17, the tokenview block browser showed that the etc reached the height of half of the block at about 14:00, and the reward for each block was reduced from 4 etc to 3.2 etc. it is estimated that the daily mining reward will be reduced from about 26000 etc to about 21000 etc.

Prior to that, etc completed its first hard fork upgrade on January 12 this year. At 14:26 on the same day, etc launched the agharta hard fork upgrade at block height 9573000. This hard fork aims to make Ethernet classic compatible with Ethereum, realize interoperability between etc and eth network, and constantly enrich the classic ecology and application scenarios of Ethernet. This upgrade will include eip-145 (bitshift instruction in EVM), eip-1014 (skinny create2 opcode), eip-1052 (extcodehash opcode).

7. Steem's "voting war" broke out, and the community launched a "decentralization campaign"

Steem community members said on March 3 that the mainstream exchanges such as sunyuchen union coin, Huo coin and poloniex used their voting influence to raise the number of witnesses related to steemit to the top 20 in an attempt to control community voting.

At that time, industry analysts said that the incident may be related to sun Yuchen's acquisition of steeit and steem developers' proposal of soft bifurcation. "Community members believe that sun Yuchen could promote the event of steeit during a specific direction by holding tokens, which the soft fork will forestall steem holding a selected account from choice to choose World Health Organization can manage the network."

In order to achieve complete decentralization, the steem community announced on the 18th that it would make a hard fork of steem to completely separate the Tron foundation. The new chain was named "hive".

8. India's Supreme Court overturns the central bank's ban, India's cryptocurrency exchange or welcomes "vitality"

On March 4, according to crypto kanoon, the Supreme Court of India has lifted the ban on cryptocurrencies imposed by the Reserve Bank of India.

The court ruled that the circular issued by the Bank of India on April 6, 2018 was unconstitutional. At that time, the central bank issued a circular saying that financial institutions were prohibited from providing banking services to cryptocurrency enterprises. Subsequently, the bank stopped serving cryptocurrency companies including ebpay, coindelta and koinex and closed its accounts.

Influenced by the regulatory environment, koinex, India's largest crypto exchange, said in June last year that it would permanently stop providing digital asset trading services. Rahul Raj, co-founder of koinex, said at the time, "given the basic economic feasibility and unclear regulatory policies, it is not prudent to continue trading."

9. South Korea passed the "special financial act" to usher in opportunities in the cryptocurrency Market

On March 5, according to Korean media, the plenary session of the Korean parliament has passed the amendment of the special financial law, which will be implemented one year later (March 2021).

It is understood that the content of the special financial law includes the license system of the cryptocurrency exchange and the bank's support for the real name registration of the account number of the cryptocurrency exchange. This means that virtual assets are not only officially legalized in South Korea, but also cryptocurrency exchanges will be officially regarded as financial institutions. 

10. Singapore released the exemption list of digital payment services, which was listed by several mainstream exchanges

On March 27, the monetary authority of Singapore (MAS) officially announced the list of exempted enterprises for payment service operation license, which can provide specific payment services within a specified period of time. (Note: specific payment services include account issuing service, domestic remittance, cross-border remittance, merchant receipt, issuance of electronic currency and the issuer's holding of circulation volume not more than S $30 million and digital token payment service)

In the field of cryptocurrency, feu (a wholly-owned subsidiary of pyrocurrency technology in Singapore, engaged in digital payment token trading services), coin security, okcoin, ZB, bitstamp, coin letter, coinbase, coincola, tenx, upbit, pioneer, Ixx, gate and other companies are all listed in the list of exempted enterprises.

According to the regulations, the exemption period of digital currency payment service ends on July 28 this year. If an entity submits a license application under the payment service act, the exemption period ends when the application is approved or rejected by MAS.

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