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Cardano’s Charles Hoskinson takes jibe at Tron’s Justin Sun, EOS and BSV

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Cardano's [ADA]Charles Hoskinson takes jibe at Tron's Justin Sun, EOS and BSV
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Woes for EOS seem far from cooling down. The latest announcement from Block.one, EOS’s parent company failed to turn the tide up for the digital asset. Charles Hoskinson, the CEO of Cardano and Ethereum Classic blockchain, said that the much-anticipated EOS announcement was a “flop”.

Hoskinson’s reaction was in response to a question regarding Cardano’s recently released roadmap design in the latest edition of “The Cardano Effect”. Input Out HK [IOHK] recently released an updated roadmap emphasizing on the crux – to make the Cardano blockchain 100 times more decentralized than that of Bitcoin. When asked if the digital asset’s roadmap was designed to be investor specific, Hoskinson said,

“We don’t think a lot about investors at IOHK. The whole investment thesis in the cryptocurrency industry it’s a bit bizarre in just strange you know it’s things go out for no reason things collapse for no reason”

He also criticized Justin Sun, the founder of Tron [TRX], who spent $4.6 million for lunch with Bitcoin skeptic Warren Buffet and said that Sun is probably “out of ideas”.

“It’s just crazy to see what they have to do to keep that hype machine”

Taking a sly dig at Craig Wright’s hard fork coin, Hoskinson said that BSV’s surge last month was due to market manipulation while really good projects sometimes “linger far far away” and fail to garner traction. He is of the opinion that “its a lost cause if people get trapped in the behavior of trying to make investors happy”





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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.

Bitcoin

ErisX goes all hands on deck to launch a Bitcoin Futures market

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ErisX goes all-hands on deck to launch a Bitcoin Futures market
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ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





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