Bitfinex’s LEO tokens, a hot topic of discussion on crypto-Twitter recently, is now going to be listed on a Chinese exchange, ZB.COM. The tokens will go live on May 28 and will be paired against USDT.
The exchange tweeted,
— Bitfinex (@bitfinex) May 24, 2019
Further, the blog by Bitfinex also stated that the trading of these tokens will be limited to KYC-compliant users in certain jurisdictions only. ZB.COM announced the timings as they tweeted,
“ZB.com will open trading for LEO/USDT trading pair at 2019/05/27 14:00 (UTC+8). Users can now start depositing LEO in preparation for trading.”
LEO tokens were the center of speculation when the exchange announced that it will be raising a billion dollars in exchange of the tokens. The issuance of LEO tokens was planned to cover the $850 million currently frozen in several accounts controlled by the payment processing company, Crypto Capital, which is at the heart of a recent court order issued by the New York Attorney General’s office against the firm.
Although the New York Supreme Court has issued an injunction favourable to Bitfinex, the New York AG’s lawsuit has brought forth a lot of information that was not known to the general public.
Tether’s reserves were also questioned during this battle between New York’s AG and Bitfinex. Two important revelations have since gripped the cryptoverse. First, not all of Tether’s reserves were backed by cash reserves and second, Tether had invested some of its reserves in Bitcoin.
Subscribe to AMBCrypto’s Newsletter
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.
Subscribe to AMBCrypto’s Newsletter