On 10th July, Ethereum Classic posted a tweet of appreciation for Grayscale for all the progress it has been making with the ETC ecosystem. Grayscale called out ETC Cooperative for being the back support for all the progress.
The ETC Cooperative is an organization that has been committed to supporting development, community, and marketing efforts within the Ethereum Classic ecosystem. They work by extracting any issues and obstacles faced by ETC’s current as well as future users. Whether it is keeping the tools updated, or there is a lack of information, or the value of ETC is not made aware, ETC Cooperative works on it.
ETC Cooperative now plans to release biannual reviews of their work every 6 months and they have just released the first one that shows an overview of their work from January to June this year.
The fields in which they have brought advancements to over the past 6 months are three-fold. For technical enhancements, they have provided the end-user tools and whatever technical information is necessary to be able to use ETC. In community building, they have provided information and resources needed by the members. They have also reached out to other cryptocurrency communities in an attempt to expand ETC’s reach.
It has been reported that Ethereum Classic has seen substantial growth in the community and a great inflow of intent among people. Their rate of subscribers on their subreddit has grown by 70%, from 12,000 to 20,500 subscribers. Their @etc_classic Twitter account to have grown to over 60%, from 125,000 followers to 200,000. The average transactions too have more than doubled from 17,000 to 47,000 per day.
The report also mentioned that alongside these advancements, there are parts of ETC that were not maintained as well. The points below are taken from their report.
- Only one reliable block explorer existed.
- Coordinating upgrades with miners and exchanges was difficult.
- The main ETC website [ethereumclassic.org] was outdated.
- The international community was underserved.
- ETC was largely seen as separate to the broader Ethereum community.
“The ETC Cooperative identified these and many other pain points for ETC adoption and has made substantial progress in correcting these issues.”
The report also provides a financial summary from January to July 2018.
As far as their plans for the remaining 6 months of the year are concerned, they intend to continue all the on-going projects and complete the ones in progress. They are looking to ramp up marketing and communications by raising the outreach of ETC and awareness of its value.
They also hope to work with a wide range of industries, including those who are interested in using ETC’s blockchain. They are aiming to expand their role as a coordinator of the teams in ETC and get more staff to get more projects in motion.
76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether
Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.
Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.
The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.
In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.
Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].
Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.
Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.
76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.
At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.
The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.
DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:
“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”
Another DigiByte fan, Mark Brown replied on the same thread saying,
“Tell that to @barrysilbert , he’s the one to talk to brother 😏
@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.
I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”
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