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Covesting’s CEO: “While most projects were busy hyping, we invested exclusively in development”

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Covesting’s CEO: "While most projects were busy hyping, we invested exclusively in development"
Source: Covesting

Covesting, one of the first exchanges across the globe to obtain a DLT license from the GFSC thanks to the platform’s high level of compliance, security and infrastructure, has officially announced its much-anticipated soft launch after a long but successful journey.  From today, anyone can register and start trading on

Covesting’s CEO and co-founder, Dmitrij Pruglo, spoke in-depth about his project’s soft launch and successful year, saying:

“After this difficult year for us, we are pleased to present the platform to the community. But the most difficult was not the development process itself, although it certainly takes a lot of effort. The most difficult aspect was the ability to restrain oneself and not to react to skepticism from the side of conditional competitors and some token-holders regarding the lack of active marketing. It was a volitional decision, and we believe that we were not mistaken. Before any startup there is a choice in where to focus our efforts. Across the crypto industry, it has become common practice to offer anything to customers, so long as it is attractively packaged. And the problems of customers will face due to infrastructure flaws are the least of the creators concerns.

Ultimately, this damages users, investors, and the industry as a whole, as it leads to significant problems down the road that cannot be easily fixed. It was necessary this tradition changed. Someone needed to step up and raise the bar for the industry to create a better future.  At Covesting, we have focused our energy on creating a company and platform that raises the bar for the industry as a whole by focusing on regulatory compliance and facilitating an incredibly successful soft launch.

Today, each of you can try out the platform and see if it was worth the wait. We believe that a strong product will speak volumes for itself. We have remained confident all year, and we are ready to begin to demonstrate to the world the possibilities of a platform on an entirely new level for the crypto-community.

What do I mean by new level? Everything. This is a combination of broad functionality, uncompromising reliability, unprecedented transparency, and the best quality support service in crypto-world that we built from the ground up, focusing on becoming one of the world’s leading financial corporations. You can also try out the speed and quality of the support service in person by contacting our support team through the platform’s contact form, Telegram, Facebook, Twitter, and more.”

Soft launch of the Covesting platform gives the team a final chance to stress test operations during active trading sessions and offer users a chance to test drive many of the platform’s cutting-edge features. Features available during soft launch include trader rankings based on ROI, exceptionally high liquidity, around the clock support service, quick-order execution, a reporting dashboard to monitor performance and trade history, and much, much more. Copy-trading will be made available following the soft launch.

A limited set of cryptocurrencies will be available for trading, depositing and withdrawing during the soft launch, with additional assets being added in the future. This will allow for thorough testing of a limited feature set to ensure all internal operational standards are met. In the coming days following the soft launch additional fiat funding methods – including bank wires, transfers, credit cards, and more – will be added.

The soft launch also offers users the ability to complete KYC verification and get an early chance to begin creating trader profiles.

To begin trading on Covesting’s platform, follow these five simple steps:

  1.   Login to the Covesting platform or register for a new account
  2.    Complete the KYC process and wait for verification if the step wasn’t previously completed
  3.    Go to the funds section and deposit any cryptocurrency currently available for trading
  4.    Transfer your deposited funds from wallet to trading portfolio
  5.    Start trading on Covesting platform.

Furthemore, Covesting recently launched its highly-praised mobile app, giving users the same next level experience the platform offers, at the comfort of their fingertips. The app, available for iPhone and iPad – and in coming months, Android devices – offers advanced charting, quick-order execution, the ability to safely and securely store cryptocurrencies, and much more – right form a user’s mobile device. Download the app today!

“Thank you to the community for all the support. We are proud to invite you to test out and enjoy all of the platform’s exciting features during the soft launch, with more to developments to come,” – Pruglo added.

To know more, Click Here!

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David Schwartz of Ripple projects views on tribal behavior of crypto-industry

Priyamvada Singh



David Schwartz of Ripple projects views on tribal behavior of crypto-industry
Source: Pixabay

In a recent podcast by Internet History Podcast, the Chief Technology Officer at Ripple, David Schwartz discussed the tribal nature that surrounds the cryptocurrency and blockchain space. Here, he addressed the issue as unfortunate and stated that the members of the space must understand that working together and in sync is significant to moving forward. In his words:

“They’re very much like religious battles. You have influential people who are committed to a position that like one digital asset is the best and they can’t acknowledge any of the strengths of others or the weaknesses of their own, which makes it difficult for people to make good decisions about you know which assets to use or what to use them for.”

He switched the subject to the workings of Ripple, wherein he explained that the company is focused on the use case of global payments but is also excited to see innovation in the space. Furthermore, he stated that he expects to see the XRP ledger be used in different sectors of innovation, moving beyond payments.

About tribalism, he said that there are certain social media platforms that fuel the trait, such as Twitter, mentioning the trend as hostile. He also said:

“Tribalism, it’s chasing a lot of people out of the space because of some platforms, particularly Twitter, is just extremely hostile and I think we need to fix that. Again, if the crypto markets are sending us any signals is that we’re all in this together and we need to work together to grow.”

The tribalism that he is referring to is evident in the space as the maximalists continue to promote their respective choice of coin while dissing every other token. This has also been observed in the Bitcoin ecosystem, wherein maximalists like Roger Ver and Tone Vays are involved.

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Tron [TRX] energy cost to be reduced from 20 sun to 10 sun





Tron [TRX] energy cost to be reduced from 20 sun to 10 sun
Source: Unsplash

The whole cryptocurrency market has been witnessing a steep downward trend for the past couple of weeks. Even the major cryptocurrency like Bitcoin [BTC], Ethereum [ETH] and XRP, have lost the battle against the ice king. This negative trend has broken down most of the new projects in the market, especially the investors’ sentiments. There are also a few projects and team that are finding it hard to continue their operations because of the bear’s ever-growing presence.

Despite this, Tron [TRX], the tenth-largest cryptocurrency by market cap, continues to make advancements in terms of network development. Justin Sun, the founder and CEO of Tron Foundation presented the second proposal, Proposal 9, has been approved by 2/3rd of the governing body. The proposal is aimed at making the network a developer friendly environment by reducing the energy cost from 20 sun to 10 sun, which, in turn, reduces the cost of smart contact.

Justin Sun's tweet on the proposal | Source: Twitter

Justin Sun’s tweet on the proposal | Source: Twitter

At the time of writing, the proposal had received 22 approvals and no disapprovals. The representatives who voted for the proposal includes Justin Sun Tron, Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain, Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people, and Tron Europe.

The first proposal of the month was related to maximizing the energy limit of the network, which was also aimed at supporting the developers of the ecosystem. The proposal was approved by all 28 Super Representatives of the network. Super Representative are the representatives of the community and validators of the node who are elected by the token holders. These representatives are given the power to vote for the activation of the features of the Tron Virtual Machine, with the focus on the betterment of the entire community.

Earlier today, the CEO of the Foundation spoke about how Tron surpassed Stellar Lumens, the fourth largest cryptocurrency by market cap. He said on Twitter:

“According to @CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs”

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