Connect with us

Altcoins

Bitcoin SV [BSV] delisting continues as several exchanges follow Binance to oust coin

Avatar

Published

on

Bitcoin SV [BSV] delisting continues as several exchanges follow Binance to oust coin
Source: Pixabay

The domino effect was in full swing, as Binance’s Bitcoin SV [BSV] delisting buoyed several exchanges to follow suit. The now 14th largest cryptocurrency in the market had a disastrous start to the week, with a slew of de-platforming announcements spelling a bearish wave.

A mere three hours after Binance’s announcement, Shapeshift’s CEO Erik Voorhees announced that BSV would be delisted from their services, followed by a Kraken pool hinting at delisting and pulling the trigger less than a day later. Since then, several cryptocurrency platforms have joined the delisting brigade.

The Hong Kong exchange Bitforex, took the cautionary Kraken approach, putting out a pool to gauge public sentiment before delisting the coin. Bitforex stated that if the majority voted in favor of delisting, the exchange would pull the trigger. After over 50,000 votes, over 55 percent of the respondents were in favor of the delisting, which now looks imminent.

Bitrue, the California-based exchange announced that it will also show the door to the Bitcoin Cash [BCH] hardfork, stating via a tweet:

“To preserve our integrity & community trust, we will delist $BCHSV before it causes trouble and destroys more confidence in the crypto space!
$BCHSV will be delisted within 24hrs. Withdrawals will be kept open @BitrueOfficial .”

The UK-based cryptocurrency trading platform Bittylicious announced on April 16 that Bitcoin SV will be off-loaded from their services as well. Besides the “low volumes” of the coin, the platform pegged the “toxic litigious environment” that its proponents created as the main reason for the delisting.

Other platforms to hint at a possible Bitcoin SV delisting from their services were bitcoinrewards.com and Cryptoradar.



The delisting dilemma has seen the price of Bitcoin SV plummet by over 20 percent after the Binance announcement. The coin fell two spots on the global coin ladder, allowing Monero [XMR] and Dash [DASH] to surge ahead.

On the bright side, if there is one, Satoshi’s Vision did foresee delisting on the horizon, particularly after CZ’s “Anymore of this sh!t, we delist,” tweet, and came up with a back-up. A “Bitcoin SV based exchange” named FloatSV was launched, in partnership with OKEx, based on an April 12 announcement, a day after the aforementioned CZ tweet.





Subscribe to AMBCrypto’s Newsletter


News

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

Avatar

Published

on

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

Trending