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Binance CEO talks about QuarkChain [QKC] and the potential of Binance

Simran Alphonso



Binance CEO talks about QuarkChain [QKC] and the potential of Binance
Source: Pexels

Binance is a universal, multi-dialect digital money trading platform. The administration brought 15 million dollars up in a July 2017 Initial Coin Offering for its ERC20 BNB token. CEO Changpeng Zhao had beforehand established Fusion Systems in 2005 in Shanghai; the organization assembled high-recurrence exchanging frameworks for intermediaries.

The organization was established in China, yet moved its servers and base camp out of China into Japan ahead of time when the Chinese government laid restriction on cryptocurrency exchange platforms. Irrespective of the barriers, by March 2018, the organization had built up workplaces in Taiwan.

CZ Binance aka Zhao Changpeng, CEO of Binance tweeted:

“QKC token distribution, created by a community member.  This shows: 1. the crowd is powerful. 2. the crowd is powerful given the transparent nature of blockchain.  3. most of the usable circulating supply is already on Binance. 4. expect high volatility, ie, swings in BOTH ways.”

The CEO along with the tweet added an image that elaborates his tweet and explained the analytics.

CEO of Binance tweet image.

QuarkChain commented on the tweet with some additional info, they said:

“40% QKC will be used for MINING and is already locked by smart contract. Other distribution includes 15% team, 15% foundation and 5% advisor , they will all be locked up to 2 years using smart contract.”

While Jimmy, a Twitter user commented:

“These are the kind of pump and dump scam that the regulators have to go after. 96.4257% held by the founders and team wallet? Simply unbelievable..”

Yesterday, Binance announced the listing of QKC but the token was not listed on CoinMarketCap. It is speculated that there was a confusion between QKC and QRK as QKC [QuarkChain]. This also lead to a price hike of QRK and not QKC. The CEO talks about how QKC token distribution was postponed yesterday due to less circulation. On the other hand, today, he talks about people’s power and how the circulation is all set for the take-off.

Users on the Binance Exchange can receive a 50% discount on trading fees by paying with the BNB token [Binance coin]. Since the Binance ICO, a number of new exchanges have adopted the ICO model, issuing their own tokens. Binance is the largest and most popular trading platform of the crypto-world. Any changes in their platform could bring in many changes in the crypto-universe.

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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.


EOS, Tron [TRX] and Ethereum [ETH] are top three cryptocurrencies, says China’s CCID Group

Akash Anand



EOS, Tron [TRX] and Ethereum [ETH] adjudged top three cryptocurrencies by China's CCID Group
Source: Pixabay

Analysis of the cryptocurrency market by various global entities has been a standard procedure for a lot of organizations to keep track of the updates and developments in the field. One such major analyst is China’s CCID Group, which works under the Xi Jinping-led country’s Ministry of Industry & IT [MIIT].

In the latest edition of CCID’s Global Public Blockchain Technology Assessment Index, it was stated that EOS retained its title as the best cryptocurrency according to three factors assigned by CCID. The three factors were basic technology, applicability, and creativity, criteria that are aimed at assessing the most effective digital assets in the market right now.

In terms of basic technology, EOS scored a whopping 103.7, making it the only cryptocurrency to breach the 100-mark. It received a score of 20.2 and 24.7 when it came to applicability and creativity, respectively. The surprising result of this assessment was that Bitcoin [BTC], the largest cryptocurrency on the charts, did not even feature in the top-10 of the CCID rankings.

According to the analysis, Tron came in second with a Basic tech score of 95.6 and an applicability score of 24.3. Tron CEO Justin Sun had stated multiple times that EOS and Ethereum were Tron’s biggest competitors, but it turns out that it had the lowest creativity score among the three, clocking 24.1 to Ethereum’s 31.0.

The third-ranked cryptocurrency was Ethereum [ETH], sticking to the trend as all the three cryptocurrencies were focusing on DApps. Despite being third in the rankings, Ethereum had the lowest basic tech score, with its 76.6 being lower than that of relatively smaller coins like Steem and Ontology.

There seem to be some connection with DApps and the CCID rankings as these applications slowly entered the main fore in the cryptocurrency environment. Sources informed that Tron DApps had recently surpassed that of Ethereum and EOS in terms of weekly active and new users.

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