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NEM announces new partnerships; XEM to be available for payments in over 1000 Australian restaurants

Ajay Narayan

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NEM announces new partnerships; XEM to be available for payments in over 1000 Australian restaurants
Source: Unsplash

According to a recent report, NEM announced a partnership with Liven, an Australian based payment platform which rewards its users for their loyalty when they visit partner restaurants and pay through the Liven app. Liven’s digital currency LivenCoin [LVN] allows Australian users to pay with cryptocurrency across 1000 restaurants through the LivenPay payment network.

The creators of NEM.io will be working with Liven to integrate XEM with LVN coin. The report stated that the Apostille function of the NEM blockchain will be utilized to ensure Liven’s transparency and integrity. Furthermore, the Apostille function will be used to validate the analytics provided to merchants.

The NEM foundation will be working towards providing technical guidance, support and will also explore the other features in the blockchain technology which could be integrated into Liven’s platform.

NEM’s Expansion Director for Australia and New Zeland, Jason Lee stated that the partnership has two important aspects. The first aspect was that pairing XEM with LVN would allow the community to constantly interact with Liven’s ecosystem.

He further added that this partnership was proof that they had the potential to develop real-world use cases. He further added:

“We are already exploring other opportunities to integrate NEM blockchain technologies with Liven and will look forward to working with them continuously”

Moreover, NEM recently announced a strategic partnership with OATH Protocol. A platform which aims to build a standardized and decentralized protocol that protects dApp user’s rights and assets.

Oath protocol could be integrated into NEM’s voting system which will ensure an “added layer” of security. The protocol will further stabilize the infrastructure and increase the usability of the voting function of NEM.

Steve Li, Leader of NEM China opined that the Oath protocol would give NEM a better experience on voting solutions. The partnership would give NEM a lot of recognition in the blockchain industry and would benefit both NEM and Oath.

The leader of NEM Taiwan, Flora Fang stated that the Oath protocol ensured blockchain security by adopting dispute resolution and governance mechanism. He added:

“We are committed to the management of smart asset allocation on the blockchain, and its use symbolizes full fairness and equality. The decentralized reward mechanism provides a safe and easy-to-use solution and application portal for peer-to-peer payments”




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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Ripple

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

Priyamvada Singh

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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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Altcoins

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

Priya

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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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