Crypto News – 24 May – Binance CEO CZ accused of causing ‘pump and dump’ by analyst, SEC busts Ponzi scheme utilizing diamond-backed cryptocurrency and more
— AMBCrypto (@CryptoAmb) May 24, 2019
Crypto News – 24 May
Tom Chippas on Bitcoin’s rise: ErisX CEO, Tom Chippas, made headlines after he claimed that the strongest reason for BTC’s price rise was evolution of different players coming in
Read more at https://bit.ly/2WuPkPr
HitBTC insolvency?: The latest report from Cointelligence speculated that HitBTC might be insolvent, with only $3 million in Bitcoin [BTC] and Ethereum [ETH] across its wallets
Read more at https://bit.ly/2W0frhp
New OKEx update: The exchange has announced new futures trading upgrade for XRP, Bitcoin Cash [BCH] and Litecoin [LTC]
Read more at https://bit.ly/2HyZTZ8
New collaboration for Ripple: Ripple-backed InstaReM will roll out cross-border transactions by collaborating with Thailand’s Kasikornbank
Read more at https://bit.ly/2M9SJPq
Rabobank drops out: After ABN AMRO, the Netherlands’ based Rabobank is the latest to announce that it will be dropping its crypto project
Read more at https://bit.ly/2HN7l1P
Grayscale Investments update: Grayscale Investments, a digital asset management firm, announced that the Financial Industry Regulatory Authority [FINRA] approved its Ethereum Trust
Read more at https://bit.ly/2W1ctJM
Vitalik Buterin’s new bot: An AI-powered bot, modeled on the Ethereum Co-founder and named ‘Vitalik Boterin,’ is making headlines in the cryptoverse
Read more at https://bit.ly/2W1oQoW
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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind
XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”
A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.
Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry! 😆
— Wietse Wind (@WietseWind) June 23, 2019
XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.
After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.
The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.
This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.
XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.
SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.
Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.
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