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Litecoin [LTC] and Bitcoin Cash [BCH] surge by over 6% following announcement of first halving

Namrata Shukla



Litecoin [LTC] and Bitcoin Cash [BCH] surge by over 6% following announcement of first halving
Source: Pixabay

The cryptocurrency market had taken many major coins on a roller coaster ride over the past week as almost all coins registered gains following the resurgence of Bitcoin. Bitcoin [BTC] saw a massive surge over the past week and so did Litecoin [LTC] and Bitcoin Cash [BCH]. LTC and BCH, at press time, was still surging by over 6% following the announcement of the first halving.

Litecoin [LTC]

Source: CoinMarketCap

Source: CoinMarketCap

At press time, LTC was seeing a spike of 6.80% over the past day. The coin was valued at $93.72, with a market cap of $5.73 billion. LTC registered a percentage increase of 54.98% over the past week, but dipped by 0.23% over the past hour.

According to a report by Ethereum World News, LTC hiked by more than 200% in 2019 and the last low of LTC was noted to be in December 2018. This percentage increase could probably see another push as and when the LTC halving takes place.

Bitcoin Cash [BCH]

Source: CoinMarketCap

Source: CoinMarketCap

BCH saw a rise in its price by 6.76% over the past day, however, dipped by a minimal 0.56% within the past hour, at press time. The progress of the coin over the past week was noted to be of a whopping 84.40% and was valued at $309.66. The market cap of BCH was $5.48 billion, while the 24-hour trading volume was noted to be $2.34 billion.

Bitcoin Cash is scheduled for a block reward halving a month before Bitcoin’s and probably after Litecoin [LTC]. The news of halving has managed to spike the prices of BCH too, and it is speculated that this rise would continue. However, it’s in the nature of the cryptocurrency market to change the trends and undergo strong corrections.

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Binance Chain’s ‘decentralization’ questioned by Bitcoin enthusiast; calls Binance DEX just an app




Binance Chain's "decentralization" questioned by Bitcoin enthusiast; calls Binance DEX as just an "app"
Source: Unsplash

Udi Wertheimer, an independent developer and a “Bitcoiner” posted a series of tweets taking a jab at Binance Chain, which is slated to launch on April 23.

According to Wertheimer’s tweets, Binance has not updated the “source code” or “binaries” for the Binance Chain; and despite enquiring about it on the official telegram group of Binance, he was offered any source code.

He said that Binance recommended users, who want to migrate tokens to Binance chain, use the official SDK, which will be done via official HTTP API using Binance’s trusted servers. Binance DEX, which will make use of the Binance Chain, also has no source code or binaries which are open source. He stated:

“There’s almost nothing there. So I looked for the source code. Guess what, THERE’S NO SOURCE CODE. They only have binaries, and only for a light client, no full node at all!”

He commented on the Binance Chain and the Dex that all Binance did was release an “app that connects to the API of your new centralized infrastructure”. In addition, the “Light Node” is a program that helps users access and interact with the Binance Chain in a secure and decentralized manner; the source code for which is “closed source” according to Wertheimer.

Wertheimer further added:

“Just releasing the binaries won’t be enough, and there’s no indication I could find anywhere that they intend to release the source code, like, ever. In any case, regardless of what may happen in the future, what’s released so far amounts to nothing more than a new website.”

A Twitter user, @bag_holder commented:

“Lol seems like a very Chinese thing to do. “BORROW” IP, make some edits, then keep it to oneself”

Another Twitter user, @thecryptostefan commented:

“There’s a branch with the full node implementation, no? I thought they just hadn’t merged it to master yet when I was looking last night. I think it’s the prerelease branch or one of those.”

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