Author: Anna Galvez

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Crypto News

TRON (TRX) Migration To The TRON Mainnet Commenced Yesterday, June 21st, And Will End On June 25th

The migration of TRON (TRX) tokens from Ethereum (ETH) blockchain to TRON mainnet began on June 21st and will continue until June 25th.

The cryptocurrency exchange platforms that will support the migration will have the withdrawals disabled until that date. The deposits will be enabled, so interested parties will only need to send their ERC20 tokens to the cryptocurrency exchange platforms to participate in the migration. TRON (TRX) deposits and withdrawals will be available generally as of June 26th.

In a publication entitled “June 25th, TRON’s independence day,” the TRON Foundation announced that by that date the TRON mainnet would be fully operational, and to celebrate the event, the “burning” of 1 billion TRX, the equivalent of about $48 million will take place.

Keep in mind that on May 31st, 2018, the TRX ERC20 tokens were launched on Ethereum (ETH) blockchain. Of the total 100 billion ERC20 tokens distributed, only 99 billion will be available after June 25th, which could result in an increase in the TRON (TRX) price. Likewise, a total of 33,251,807,524 TRX belonging to the TRON Foundation will be blocked until January 1st, 2020.

TRON (TRX) is on its way to becoming a great cryptocurrency once the migration to TRON mainnet ends

The TRON (TRX) is in the 9th position by market cap, according to the CoinMarketCap, with a market capitalization of just over $3 billion. At the moment of this writing, TRX trades at $0.043, registering a drop of 10.37% in the last 24 hours.

TRON Foundation also published the list of cryptocurrency exchange platforms that will support the migration of TRX tokens, including Binance, Bitfinex, Cryptopia, Huobi, Koinex, and Coinbene.

The schedule of the migration from ERC20 to the TRON mainnet will be published by each exchange platform in part.

To ensure that the launch of the TRON mainnet is secure, the developers offered a reward of up to $10 million in TRON (TRX) to users who find and reports code errors.

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Crypto News

Bithumb Cryptocurrency Exchange Platform Will Cover All The Losses Caused By The Recent Cyber Attack

Bithumb, one of the most significant South Korean cryptocurrency exchange, stated yesterday, June 21stm that it teamed up with other crypto exchanges and Korean governmental agencies to apply a reliable method to recover funds recently stolen during a cyber attack.

Participating in this investigation are the Korean Communications Commission, the National Police Agency, the National Internet Development Agency, and the Korean Internet Security Agency (KISA).

Bithumb cryptocurrency exchange announced that it would cover all the clients’ losses

Bithumb is struggling to reduce the damages triggered by the cyber attack on its platform that took place Wednesday when the hackers subtracted about $31 million. Even though the company was undecided regarding whether to announce the theft publicly, it is now clear that Bithumb will indeed cover its clients’ losses and will recommence its regular operation ASAP.

We verified that some of the crypto coins valued at approximately $31,000,000 in cryptos were stolen. The stolen cryptocurrency will be covered by Bithumb and all assets will be transferred to a cold wallet.

Bithumb

The cryptocurrency exchange platform has $1 billion in annual profits, according to 2017 stats, of which $500 million are specifically kept available to compensate for such cyber attacks.

Bithumb also made sure that all deposits and withdrawals from the platform were stopped, as well as the remaining assets were transferred to offline hardware wallets as a security method to avoid further monetary losses.

The South Korean Blockchain Association (KBA) called the cyber attack “shameful”

The South Korean Blockchain Association (KBA) described the theft as “shameful,” while they also noted that the issue is being handled well by cryptocurrency exchange platforms and promises to protect users from future cyber attacks.

The announcement also states that KBA will continue to work to develop and implement standards for the protection of users’ investment in the cryptocurrencies market, to improve the security of cryptocurrency exchange platforms, and to establish standard conditions for the resolution of legal disputes.

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Crypto News

Federal Reserve Branch Lists Cryptocurrency Prices Charts

St. Louis Federal Reserve Branch has listed four cryptocurrency price tracking charts in its comprehensive database of inquiries.

St. Louis Federal Reserve Branch listed four cryptocurrency price charts

The Federal Reserve Economic Data (FRED), a Federal Reserve-managed economic database, was announced on Tuesday that will henceforth feature price data for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

All the price data and the charts are obtained by the Federal Reserve bank directly from the Coinbase cryptocurrency exchange and trading platform, a renowned crypto-related business based in San Francisco, USA. All the prices and the charts will be automatically updated daily at 5 PM PST.

It may be possible for the St. Louis Federal Reserve Branch also to list price data for the Ethereum Classic (ETC) cryptocurrency when Coinbase officially lists it on its cryptocurrency exchange platform, which it has been told will happen soon.

The Federal Reserve had an awkward affair with cryptocurrency

As noted by CCN, the St. Louis Federal Reserve Branch has been amazingly receptive to cryptocurrency, both as a commodity and as a technological asset.

St. Louis Fed. Governor James Bullard recently addressed the cryptocurrency Consensus conference, held last May in New York. While not precisely bullish, his remarks hint at a future in which cryptocurrencies will have a substantial impact on the world’s economy. He also voiced his concerns that cryptocurrencies may cause the monetary landscape to revert to a “non-uniform monetary system,” as it existed in previous centuries.

“Cryptocurrencies may be inadvertently pushing in the wrong direction when trying to solve a major social problem, which is the best way to facilitate market-based exchange,” stated James Bullard.

On the other hand, Raphael Bostic, who manages the Federal Reserve Bank of Atlanta, cautioned the youth at a recently held conference not to put money into cryptocurrencies, which he likened to popular collectibles such as Beanie Babies.

In the same tone, Neel Kashkari, chairman of the Minneapolis Federal Reserve, stated last month that the cryptocurrencies market has “become a sham,” while the blockchain technology is “probably more interesting and has more potential” than Bitcoin (BTC).

Besides, according to the Federal Reserve of San Francisco, the actual value of 1 Bitcoin (BTC) would be $1,800 which is approximately equated with the costs of mining 1 BTC.

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Crypto News

Ubiq (UBQ): Here Is Why You Should Keep An Eye On UBQ

Ubiq (UBQ) is a fork of the Ethereum (ETH) blockchain, and its primary purpose of existence is to allow the development of enterprise-based decentralized applications or Dapps. However, the Ubiq seed ledger was initially the Jumbucks blockchain which rolled out in 2014 and made a move to the actual Ubiq blockchain in January 2017.

What makes Ubiq (UBQ) unique?

First, Ubiq (UBQ) was not funded by any ICO, and all the UBQ crypto coins were gained fair-and-square as everyone paid for them with their own time and money, including the coin’s devs. More importantly, Ubiq blockchain had the opportunity to learn from the mistakes of the Ethereum (ETH) blockchain. Therefore, they built a very robust foundation for the Ubiq’s very sturdy platform which was constructed from scratch.

On the other hand, the robustness and fairness characterizing the Ubiq (UBQ) crypto and its blockchain made the jury from the Canadian Fintech Awards 2017 to reward it with the “Top Blockchain Company Of The Year.”

Above all these, Ubiq (UBQ) is a very straightforward crypto coin to mine and is backed up by a very loyal community.

Ubiq Platform

Ubiq (UBQ) operates on an altered Ethereum code base. Among the most significant alterations the original ETH code base has suffered, there is the implementation of the Ubiq’s Flux Difficulty Algorithm which permits the automatic regulation of the hash rate to prevent network attacks.

On the other hand, Ubiq’s Exponentially Subjective Scoring (ESS) feature is designed to be used by cryptocurrency exchange platforms or mining pools to cut off double spending and to eliminate malicious members before they can take action.

Why should you keep an eye on UBQ?

As mentioned above, Ubiq (UBQ) network learned a lot from the mistakes made by Ethereum (ETH) blockchain from which the UBQ forked. Also, UBQ is enjoying a trustworthy and loyal community, is accessible to mine, and relies on a stable and robust blockchain and platform.

On the other hand, Ubiq (UBQ) hasn’t yet enjoyed the growth of Ethereum (ETH), so it’s still affordable, as it trades at $0.99 at the moment of this writing.

All these should be more than enough to keep an eye on UBQ as it might be the next big cryptocurrency.

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Crypto News

Verge (XVG) Mass Adoption Campaign Is Definitely Paying Off

Verge (XVG) is not finished as most had believed at the time when the cryptocurrency experienced a succession of assaults within and beyond its blockchain community. Crypto enthusiasts described this altcoin as an obscene, big scam. But Verge’s staff is still bringing new advancements, mainly after they launched the XVG mass adoption campaign which, today, scored its first successful partnerships.

Panchanko accepts Verge (XVG)

Panchanko, a high-end audio cable manufacturer and supplier, has teamed up with Verge (XVG). The firm is renowned in the music business for its endeavors in the manufacture of sophisticated audio cables.

This day keeps getting better! A third-party seller has joined #VergeFam today! https://www.pachankostudio.com now accepts @vergecurrency as payment! It is a company that manufactures audio cables, well known in the industry. @GirandCHANKING thank you for your support! $XVG #XVG #XVG #massadoption.

Miheal, a Verge Currency core team member, on Twitter

Panchanko is owned by Girand Chan King, a native of Africa, who began his love for music at the age of 8 and turned into a self-taught pianist at a young age. He graduated as a computer engineer and left Madagascar for Reunion Island, to explore ways to manufacture high-quality audio cables.

Evolution Host also adopted XVG

Evolution Host, a leading VPS Hosting provider, now supports Verge (XVG). The hosting service that focuses on gaming servers, IRCds and mIRC Bot Hosting has spearheaded the growth of the hosting business by satisfying the requirements of its clients with low prices, and excellent services.

#VergeFam Check out @EvoHostin – https://evolution-host.com now accepts $XVG #Vergecurrency via @CoinPaymentsNET and offers premium quality #vps, #vnc #gamingserver and #ircd #hosting for only $5

Verge (XVG) Team, on Twitter

The Verge (XVG) will become, among other things, one of the most widely accepted cryptocurrencies by the technology sector. Besides, the XVG community hopes that the Verge team will sign more partnerships to help this cryptocurrency become more prominent.

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