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Bitcoin [BTC] proponent Anthony Pompliano applauds Binance’s CZ for transparency post hack

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Bitcoin [BTC] proponent Anthony Pompliano applauds Binance's CZ for transparency post hack
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As chaos ensued following the hack for the world’s largest cryptocurrency exchange, Binance saw the support of many luminaries in the crypto-verse. To repair the damage, well-known personalities of the space extended support. Tron’s Justin Sun had earlier expressed solidarity and offered to deposit 7,000 BTC worth of USDT [40 million USDT] into Binance while security giant John McAfee assured to identify the perpetrators.

From giving a heads up to his followers about delisting Bitcoin SV and other major upcoming updates, Changpeng Zhao aka CZ, the CEO of Binance has been quite active on his official Twitter handle. Notably, in the event of the security breach, CZ did not shy away from responding to questions and kept his followers updated on the status of the exchange, which subsequently garnered significant attention from the community.

Applauding the transparency shown by the CEO, Anthony Pompliano, a popular Bitcoin proponent in the space, tweeted,

“This may not be popular but @cz_binance deserves a lot of credit for how transparently he has handled the Binance hack. Imagine the CEO of a traditional bank or credit card company answering questions live on Twitter hours after a hack. New money, new way of communicating.”

Notably, support flowed in for CZ with users reacting to the above tweet in affirmative. A Twitter user named, Metallicelmo, replied to the original thread,

“Well said, we need more people like CZ in the crypto world. Honesty and transparency will always win”

Besides, Binance pledged to raise its security in the aftermath of the hack and also stated on the blog post that the platform would “significantly revamp” security measures, procedures, and practices. The post, however, clarified that sharing too many security details on the social media platform would “actually weaken their security response strategy”.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

XRP

XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind

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XRP TipBot goes online after a tiny downtime
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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.

Wind tweeted,

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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