12th September was the first day of a significant blockchain gathering that took place at the 2018 Ethereum Classic Summit in Seoul, South Korea. Here, the Director of the Ethereum Classic Cooperative opened the summit wherein he extended his warm welcome to the attendees and delivered a talk titled ‘The State of Ethereum’. He stated that the talks included in the event will be all about understanding blockchain for whoever wants to learn and discuss.
Lusardi began by stating the current scenario within the ETC ecosystem. He discussed the size of the ETC team, the different core teams involved, such as IOHK and ETCDEV and more. Additionally, he mentioned that the number of members working on the ETC blockchain has gone up from 11 to 38 in a year’s span.
When speaking of ETC adoption and popularity, Lusardi notified that it is the third largest blockchain by transaction volume. He also recalled the bear market of August and stated that ETC was still doing well in terms of transactions counts. In his words:
“They’ve [number of transactions] actually gone up quite a bit… Nearly jumped like from about 28,000 to nearly 46,000 over the last three months. […] And obviously, there is a lot more room for ETC to grow but I’m really not going to be surprised when we move up and we’re much higher on the chart.”
Regarding the recent breakout of the cryptocurrency bear market and its impact on ETC, Lusardi stated that the cryptocurrency survived when the market was crashing. In his presentation. he also wrote that ETC stayed relatively stable during the downturn compared to most of the cryptocurrencies.
Next, Darcy Reno from ETCDEV appeared on the stage to speak more about the Ethereum ecosystem where he outlined the past, present and future of the blockchain. He talked about ETC milestones, the history of the hard fork and much more. Reno also touched the topic of Emerald Wallet V1.
Here, he stated that the first version of the wallet released a few months back. The techie also mentioned the progress observed by the team. He added:
“The wallet has been downloaded 22,000 times, so people are actually using it.”
Since Ethereum Classic is one of the projects of the science and engineering firm Input Output [IOHK], one of its members called Dionysis Zindros came forth to deliver knowledge on interoperable cross-chain transfers on ETC to other blockchains. The researcher started off by explaining the definition of sidechains and cross-chains where he cited Ethereum and Ethereum Classic as the perfect examples.
He furthered by naming the two blockchains as A and B, wherein one was the source and the other was the destination blockchain. Zindros stated that the model allows the two blockchains to communicate. Subsequently, the destination blockchain can learn about the events taking place on the source blockchain. He believes that if the two blockchains operate with integrity and safety, the interfacing between the two could be a positive, trustless mechanism.
Dionysis Zindros was not the only one representing IOHK’s contribution to Ethereum Classic. During the summit, another member of the firm, Tom Flynn also took to the stage and introduced the team members, such as researchers and developers of IOHK. However, he soon switched to the development of Mantis and its integration with Daedalus. In the month of April, IOHK released the 1.1 version of Daedalus Mantis for Ethereum Classic.
The conference also had a captivating demonstration carried out by the blockchain architect at Accenture named Cody Burns. Here, he mentioned the many use-cases of blockchain technology, from tracking an element in real-time to building smart intersections by the automotive industry leading to a safer conveyance pattern.
There were several other developers, researchers and blockchain experts who spoke on the occasion. However, this was only the first day of the ETC Summit that is scheduled for 12th September to 13th September.
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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