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Crypto News

BTCC Sold 49% Of Its Bitcoin (BTC) Mining Pool To Hong Kong-based Value Convergence Holdings

Value Convergence Holdings Limited of Hong Kong signed a memorandum of understanding (MOU) with BTCC Pool Limited for the acquisition of a 49% of its Bitcoin (BTC) mining pool shares. In the document, dated June 24th, the purchase price was set at 147 million Hong Kong dollars (HKD), equivalent to about $19 million.

The memorandum of understanding is not legally binding, as it makes it clear that its terms are subject to negotiation between the parties and the proposed acquisition may or may not materialize. However, some considerations are detailed, such as that the entire share package is expected to be settled through a combination of cash and shares.

Also, 30 million Hong Kong Dollars has been set aside as a “Guarantee of Profit” for Value Convergence for one year. That implies that BTCC Pool Limited will have to compensate the buyer if its profits fall below this figure.

BTCC sold 49% of its Bitcoin (BTC) mining pool shares to Hong Kong-based Value Convergence Holdings Limited

The buying firm, Value Convergence (VC) Holdings Limited, is an investment group operating in the financial services area in Hong Kong and listed on the Hong Kong Stock Exchange. VC has decided to enter the cryptocurrency world with this acquisition proposal, which it carries out through one of its subsidiaries called Initial Honour Limited.

BTCC, created in 2011, includes among its activities different areas of the crypto ecosystem, offering a cryptocurrency wallet, the Mobi wallet, a crypto exchange platform bureau, and the Bitcoin (BTC) mining pool which is currently under negotiation.

Also noteworthy, in September 2017, BTCC had to close operations after the strict prohibitions implemented in China on the cryptocurrencies market, which forced the company to move its operations out of the Asian country. Subsequently, at the end of January this year, the acquisition of the entire BTCC group by an unidentified Hong Kong investment firm was announced.

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Crypto News

Cryptocurrency Scams On Twitter Tackled By Two Recently Rolled Out Apps

In order to address cryptocurrency scams on Twitter, two tools have been launched this month. These tools, the MetaCert Protocol Cryptocurrency and Scam Clerk, prevent scammers that deceive Twitter users by requesting cryptocurrency payments.

By using the tools is possible to detect fake accounts on Twitter and verify whether the published tweets come from the person being followed or from a forger seeking to defraud followers.

According to MetaCert CEO Paul Wash, MetaCert Protocol is an extension for Chrome, Firefox, and Opera that has been updated to be useful in the world of cryptocurrencies to identify cryptocurrency scams on Twitter. Currently, this app is in its beta version.

With a similar goal in mind, Scam Clerk does a kind of virus scan on the Twitter accounts, generating a dashboard pointing out the imitators that have been blocked. The app also lists all the scam accounts identified on the network. Through its bot, the application also scans the lists of friends and followers, providing additional data and statistics.

Hacking account to deploy cryptocurrency scams on Twitter

Hacking Twitter accounts for crypto scams is a trend that increased over the last few years as the use of cryptocurrency has become more popular. Despite being warned, many people still fall into the traps of cybercriminals.

After hacking into the accounts of people linked to the world of cryptocurrencies, cybercriminals often make promotions and offers in their name, asking for a deposit, or for crypto payments for entering false drawings or lotteries.

Usually, the cybercriminals ask Bitcoin (BTC) or Ethereum (ETH).

Twitter has been a breeding ground for scams despite the blue check mark that the network places to differentiate verified accounts. In spite of this, last February the TRON Foundation Twitter account was imitated entirely, with all profile pics, biography, and location. Faced with this situation, some users have expressed their complaints to the Twitter platform, demanding greater security measures.

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Games News

Clash Royale New Royal Hogs and Giant Snowball Cards Will Arrive with the Summer Update

Supercell announced that Clash Royale fans should get ready to receive a new update! The update is scheduled to come out this summer and it will introduce two awesome cards called Royal Hogs and Giant Snowball. The two cards seem fun to play and they will surely give veteran Clash Royale players a reason to keep coming back for more. Nonetheless, today we are going to cover everything there is to know about the exciting Clash Royale summer update.

Royal Hogs

The first card is called Royal Hogs and it’s definitely going to be a fan-favorite. The Hog Rider is the most popular card in the game and seeing how the new Royal Hogs is basically an upgraded version, we think it’s safe to say that Clash Royale players are going to have lots of fun with it.

Royal Hogs will require five elixir and it will summon four hogs which attack the same way as a normal Hog Rider does meaning that they will jump over the river and go straight for buildings and towers.

Giant Snowball

Even though the new update is being released during summer, Supercell decided to introduce a two-elixir spell called Giant Snowball. As the card’s name implies, players will be able to launch a bunch of snow in the arena and freeze their foes. Moreover, the Giant Snowball has a large splash radius which makes it ideal for dealing with multiple enemy units.

Supercell didn’t want the Giant Snowball to be overpowered and therefore, the card will deal little damage to single targets. However, the Giant Snowball will knockback and slow any unit it hits which makes it perfect for scenarios where the enemy is rushing to attack. Supercell is saying that the Giant Snowball will act similar to an Ice Wizard that is throwing fireballs.

I’m Francis E. Hagopian, and I’m the voice and vision behind Billionaire365.com. For the last 15 years, I’ve lived and breathed Silicon Valley culture, arming myself with insights and know-how that I can’t wait to share with you. Think of me as your personal guide in the intricate maze of technology. I specialize in translating the complex into the understandable, so you can turn knowledge into power. This isn’t just about staying in the loop; it’s about giving you the tools you need to excel in a digital age. When you’re looking for reliable tech insights, know that I’ve got your back.

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Crypto News

Alipay Payment Service Of The Alibaba Group To Adopt Blockchain Technology

Ant Financial’s online payment processor Alipay announced the future launch of a remittance service based on its own blockchain. The cross-border payments platform is primarily intended to process transactions from the Hong Kong Special Administrative Region to the Philippines.

According to Ant Financial’s official website, this Alibaba subsidiary company bets on Distributed Accounting Technology (DAT) to allow Alipay users to send and receive transactions in real time.

At the moment there are no details on the characteristics of the blockchain that will be developed to support the transactions, as no technical details were disclosed in the press release published today by the company. However, it was announced that the initiative has Standard Chartered Bank as its banking business partner and the GCash digital wallet as its Philippine partner.

Alipay, a subsidiary of Alibaba Group, to launch a cross-border payments platform based in blockchain technology

It is important to note that Alipay is led by Jack Ma, the founder and CEO of the Alibaba Group, who stated during the announcement that the position of the three mentioned companies with respect to DLT is favorable, even considering that “it could change the world more than people think”, according to Bloomberg.

However, the story is different when mentioning cryptocurrencies, as for Jack Ma “Bitcoin (BTC) may be a bubble.”

The blockchain is common among the significant figures of the global financial ecosystem, and both Ma and some influential Wall Street figures have been researching and testing distributed accounting technologies for a couple of years now. This position has been criticised by members of the Bitcoin (BTC) ecosystem, as sometimes these appear to be maneuvers to conduct market manipulation.

In the particular case of Alibaba Group, this was one of the first Asian companies to adopt blockchain technology to ensure the origin of the food offered on the Alibaba website. Also, other subsidiaries linked to Alibaba and Ant Financial, such as TMall, an electronic payment platform such as Alipay, have adopted blockchain to optimize their operations.

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Crypto News

EOS (EOS) Ranked The #1 Blockchain In China – Bitcoin (BTC) Is Not Even In Top 10

China Electronic Information Industry Development (CCID) updated its rankings regarding cryptocurrencies and blockchain technologies. Previously, the Ethereum (ETH) blockchain was considered the best, but this week Chinese think that EOS (EOS) is the #1 blockchain in China. What’s interesting is that Bitcoin (BTC) is not even in top 10.

However, the decision to list EOS blockchain as the best in the cryptocurrencies market is somewhat bizarre, given the recent events surrounding EOS (EOS).

First, some critical bugs forced EOS team to pause the network and 27 accounts were frozen without notice during the process. Then, Professor Emin Gun Sirer from the Cornell University, as well as the famous smart contracts engineer Nick Szabo, vehemently criticized the EOS blockchain.

But these events and negative critics couldn’t stop the Chinese government’s body to list EOS (EOS) as the best blockchain in the world.

EOS (EOS) ranked the #1 blockchain in China, while Bitcoin (BTC) didn’t make it in the top 10

We know that there is no such thing as perfect rankings when it comes to blockchains. It’s not like listing cryptocurrencies by market cap or trading volumes which are calculable things, that’s known and accepted. The primary reason why blockchains can’t be adequately ranked is that they can be cataloged in at least a dozens of categories, including smart contracts, crypto payments, apps blockchains, bank protocols, PoS, utility blockchains, and so on.

But the CCID ranking is very off-track because it lacks some elementary knowledge about blockchains. Under the hood, the index could be based on general criteria such as proof-of-stake (PoS), consensus algorithm, or the ability to process transactions, among others, but what they show is that they categorize blockchains by technology, applicability, and innovation.

Thus, this ranking is a mistake only because EOS (EOS) network relies on Ethereum (ETH) blockchain, so, if Ethereum shuts off, EOS blockchain dies, too. Also, the high score EOS blockchain received under “innovation” criterium is also wrong because that is thanks to Ethereum blockchain, once again.

Don’t get me wrong here, EOS is a great project and its PoS is one of the best in the cryptocurrencies market, and, in other news, EOS (EOS) has recorded the most significant increase today between the top 10 cryptos, surging by about 13%, at the moment of this writing, trading at $8.46.

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