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Binance Chain adds two more projects to its list as the Mainnet swap nears

Namrata Shukla

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Binance Chain adds two more projects to its list as the mainnet swap nears
Source: Pixabay

Binance, the largest cryptocurrency exchange in the world, launched its blockchain protocol on April 18 and announced Mithril as the first project to migrate to its Chain. Red Pulse Phoenix [PHX] and Atomic Wallet too followed the suit and migrated to Binance Chain.

Red Pulse Phoenix token operated on the NEO platform and recently announced that they would be migrating “a major portion” of their token ecosystem to the Binance Chain. The blog from Red Pulse Phoenix informed:



“The integration will consist of the launch of a new BEP-2 token called PHB, native to the Binance Chain ecosystem, and subsequent migration of NEP-5 PHX tokens on Binance.com to BEP-2 PHB tokens, which will then be tradable on both Binance.com as well as Binance DEX, the new decentralized exchange feature developed on top of the Binance Chain blockchain.”

Atomic Wallet also followed the other and decided to switch from Ethereum to Binance Chain. It will offer token migration and wallet support to the Binance chain. Apart from the current support, there are rumors of ENJIN Coin migrating to Binance Chain. ENJIN Coin’s CEO Maxim Blagov had mentioned a significant feature that had something to do with Binance Chain.

Many big projects are leaving the Ethereum ecosystem and migrating to Binance Chain, however, the Binance Chain does not have a smart contract feature, which could make some projects seeking decentralized contract settlement to stay with Ethereum instead.





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HitBTC responds to allegations of insolvency, refutes claims made by Redditors

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HitBTC responds to allegations of insolvency
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HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:



“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”





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