Connect with us


Bitcoin Cash [BCH] hikes following EOS, Cardano [ADA] pump; registers 6% growth

Namrata Shukla



Bitcoin Cash [BCH] follows EOS and Cardano [ADA] lead; registers growth over 6%
Source: Pixabay

The cryptocurrency market was experiencing bearish pressure as the prices of most major cryptocurrencies slumped over the past week. However, the bull arrived as EOS and Cardano [ADA] observed tremendous growth on 27 March. To further showcase its dominance, Bitcoin Cash [BCH] also managed to side with the bull and showcased a surge of over 6%.

According to CoinMarketCap, Bitcoin Cash [BCH] was valued at $167.67 at press time and held a market cap of $2.96 billion. It registered a 24-hour trading volume of $480 million and observed a growth of 6.30% over the past day. Over the week, BCH noted a growth of 6.47% and was still registering a minor surge of 0.92% over the past hour.

Source: CoinMarketCap

Source: CoinMarketCap

The sixth largest cryptocurrency managed to break its resistance and observed a rise in price. Roger Ver, a prominent BCH proponent, spoke about increasing BCH adoption in a recent video, something which could be one of the reasons for the sudden surge in BCH prices.

Bitcoin Cash [BCH] was highly traded on CoinBene via the BCHABC/USDT pair, as it registered $54 million in volume. The second place was taken by P2PB2B with $35 million in trading volume via the BCH/BTC pair. ZBG followed P2PB2B, as it noted a volume of $33 million via the BCHABC/USDT pair.

Other cryptocurrencies like EOS and Cardano also managed to register a growth of over 10% in the past 24 hours and were up by almost 0.44% within the past hour. The entire market appeared green at press time, indicating an imminent bull run, followed by a market correction.

Subscribe to AMBCrypto’s Newsletter


Binance Chain’s ‘decentralization’ questioned by Bitcoin enthusiast; calls Binance DEX just an app




Binance Chain's "decentralization" questioned by Bitcoin enthusiast; calls Binance DEX as just an "app"
Source: Unsplash

Udi Wertheimer, an independent developer and a “Bitcoiner” posted a series of tweets taking a jab at Binance Chain, which is slated to launch on April 23.

According to Wertheimer’s tweets, Binance has not updated the “source code” or “binaries” for the Binance Chain; and despite enquiring about it on the official telegram group of Binance, he was offered any source code.

He said that Binance recommended users, who want to migrate tokens to Binance chain, use the official SDK, which will be done via official HTTP API using Binance’s trusted servers. Binance DEX, which will make use of the Binance Chain, also has no source code or binaries which are open source. He stated:

“There’s almost nothing there. So I looked for the source code. Guess what, THERE’S NO SOURCE CODE. They only have binaries, and only for a light client, no full node at all!”

He commented on the Binance Chain and the Dex that all Binance did was release an “app that connects to the API of your new centralized infrastructure”. In addition, the “Light Node” is a program that helps users access and interact with the Binance Chain in a secure and decentralized manner; the source code for which is “closed source” according to Wertheimer.

Wertheimer further added:

“Just releasing the binaries won’t be enough, and there’s no indication I could find anywhere that they intend to release the source code, like, ever. In any case, regardless of what may happen in the future, what’s released so far amounts to nothing more than a new website.”

A Twitter user, @bag_holder commented:

“Lol seems like a very Chinese thing to do. “BORROW” IP, make some edits, then keep it to oneself”

Another Twitter user, @thecryptostefan commented:

“There’s a branch with the full node implementation, no? I thought they just hadn’t merged it to master yet when I was looking last night. I think it’s the prerelease branch or one of those.”

Subscribe to AMBCrypto’s Newsletter

Continue Reading