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Monero’s [XMR] Riccardo Spagni gives insight into Bitcoin and Monero’s supply




Monero's [XMR] Riccardo Spagni speaks about Bitcoin's and Monero's supply
Source: Unsplash

Samson Mow, the CSO of Blockstream, recently spoke about Blockstream’s Green wallet, on the latest episode of Magical Crypto Friends. Magical Crypto Friends is a series where Samson Mow, Riccardo Spagni, core developer of Monero, WhalePanda, a Bitcoin proponent, and Charlie Lee, Creator of Litecoin, discuss the events surrounding the cryptocurrency space.

Mow stated that Green Wallet was basically a re-brand of Blockstream’s Green Address, which is known for 2-of-2 multi-sig. He further stated that there would be a second factor that authorizes every transaction, adding that the second key would be held by the Green Address server. He said,

“[…] you’ll get an email or phone call or SMS or you have to use Google Authenticator or any authenticator app to hit okay before your transaction goes through. but, also there’s a lot of other cool stuff you can speed up transactions using replaced by fee […] and you can control the fees you pay to it’s much more granular than other wallets

Mow went on to state,

“[…] you have a velocity limits for spending as well but it’s like are really really secure wallet that you can use to travel around and manage your bitcoins on the go you can plug in hardware wallets to it as well […]”

This was followed by Riccardo Spagni addressing the question of which one is better, fixed coin supply or flexible supply, with respect to Bitcoin and Monero. To this, Spagni stated that Monero has a minimum block reward, adding that when this happens, it stays the same forever. He said,

“[…] what that basically means is when it gets to the minimum block reward that we’re talking about 0.8 percent inflation annually but because the minimum block reward is fixed that decreases over time so it’s 0.8 percent the first year then the next year it’s like a 0.76 percent […]”

He further stated that in terms of which one was better, if there were three options, inflationary, deflationary, and dis-inflationary, it would entirely depend on the design. He said,

“I think inflationary is always bad for the most part. I think dis-inflationary is a reasonable middle ground that gives you, if you’re not if you’re designing for digital currency and not digital gold then dis-inflationary is not a bad model. it’s the model the Monero users and I don’t think it’s terrible. if you’re designing for digital gold it has to be deflationary”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla



Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on will be halted for the initial 12-hour migration period, however, trading will continue. The post added:

“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.

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