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TRON [TRX] provides migration notice to all the investors

Sthuthie Murthy

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TRON [TRX] announces migration notice to all the investors
Source: Flickr

From the previous mentions and the unstoppable celebrations of the test net, enthusiasm is carried forward by Justin Sun, the Founder and his team. They have also successfully involved their active and inactive followers in the much-awaited Main net launch scheduled for next month.

Justin Sun tweeted with a migration notice:

“We will begin from June 21, 2018 (GMT+8). Your TRX Is safe! All ERC20 TRX is safe. For token holders, with your ERC20 tokens saved to cryptocurrency exchanges (the only required operation on your part), further operations for token migration will be automatically completed for you in due time.”

Justin Sun showed some gratitude, thanking his supporters for the undivided attention and support to Tron while he recommends to the exchanges to halt all transactions from June 22nd to June 23rd. After the 24th of June, ERC20 tokens will no longer be valid to trade, only TRX on the public blockchain will be supported.

Not forgetting the existing token holders with ERC20 tokens saved to cryptocurrency exchanges, migration operations will be automatically completed in due time. He also requested the exchanges to issue notices well in advance or right away to all their clients about the TRX migration in the technical transition file format.

The value of TRON has been dangling in the resistance zone between $0.03 and $0.04 for a very long time. Tron [TRX] is currently trading at the same value of $0.041 with no significant gains or loss in the past 24 hours.

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Thomas, a Tron follower tweets:

“Great job Justin Sun, I can see you and your team are working tirelessly to make the TRON dream come true. PREDICTION = .50 by July 2ND and breaking the buck to give us all a very nice Xmas present!!! HODL my friends.”

Ryan Frailey, a Twitterati says:

“So, we don’t need to do anything? Just HODL, and they will exchange automatically from ERC20 tokens to the Tron coin? Great news!”

Alexander, a TRX trader said:

“Excellent work, please continue to work hard on the project everyone who invested in this. We will be grateful forever.”

Rob Jason and a few other were unclear with this short writing and are awaiting further details about the migration:

“This is great news Justin Sun however; the article is not clear what action needs to be taken for TRX holders who do not have their tokens in an exchange. Will this process be published? Thanks.”

Firoz Shah says:

“So, to exchange the ERC20 TRX tokens to the Main net TRX coins, we just need to deposit it to any ERC20 TRX compatible exchanges? Can you give an official list of supported exchanges? and for those who have the token on a wallet outside exchanges like MEW?”



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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

Bitfinex partners with EOSIO as a Blockchain Producer

Sthuthie Murthy

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Bitfinex partners with EOSIO as a Blockchain Producer
Source: Pixabay

Bitfinex, headquartered in Hong Kong is the largest Bitcoin trading platform with over 10% of the exchanges’ trading. They offer state-of-the-art services for digital assets and liquidity providers. While their search for advanced technologies with the capacity to meet high-demands of a high-volume blockchain both legally and technically was in process, they came across EOSIO community to which they believe they can contribute significantly.

Latest tweet by Bitfinex:

“Bitfinex is pleased to present itself as an EOS Block Producer candidate.”

Bitfinex will act as an incubator to fund, nurture and advise teams that are serious about the future of EOS. Their team is an assortment of more than 100 experts from the industry including a highly versatile development team, legal experts, technical support agents, and industry advocates.

They claimed:

“Our team has gained invaluable industry experience along the way, and we aim to make use of this to enrich the teams around us — sharing information and providing guidance whenever possible.”

Being a block producer candidate, they pledge to grow the open-source nature of the decentralized digital asset space. This is done through intense research, collaborations, and community development. They aim to combine the potential of EOSIO with their own terms of research, development, and adoption at a much higher level.

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A high-performance decentralized exchange platform, EOSfinex also aims to combine the scalability and potential of EOSIO. It is built on EOSIO technology, along with the financial/development expertise of the Bitfinex development team. EOSfinex looks forward to delivering a highly-scalable, on-chain trading platform.

They added:

“EOSfinex has been developed by considering speed, transparency and scalability and will be the first trust less exchange to be implemented on EOSIO-based networks.”

Apart from the development of a trustless exchange, EOSfinex will be leading the development of a secure and intuitive EOS wallet as well. The partnership is meant to leverage EOSIO’s platform for horizontal scaling of DApps. As their continuous search led them to the EOSIO platform, they aim to process tens of thousands of transactions per second with the lowest fees.

Judy Steven, a Bitfinex user says:

“This is exciting. I’m interested in learning more about this “intuitive wallet” you are developing.”

Ariana Paul, a speculator says:

“Congrats Bitfinex! Looking forward to seeing what great accomplishments Bitfinex will bring to the EOS ecosystem. I can see a three-digit price for EOS soon.”

Lessie Grundon, a market observer said:

“Honestly, I don’t think this is good. To me decentralisation is all about random people having a right to produce blocks and vote the way ahead.”

EOS has been one of the top gainers in the market that has turned bearish recently displaying significant volume gains up to 52% and currently trading at $13.19. The market cap has also noticeably gained and is worth $10 billion roughly as seen at press time.

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Jed McCaleb talks about the foundation of Stellar Lumens [XLM]

Ketaki Dixit

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Jed McCaleb talks about the foundation of Stellar
Source: PxHere

The BayPay Thought Leadership event was held on 19th April, where Jed McCaleb, the Co-Founder, and CTO of Stellar Development Foundation spoke about the past, present, and future of Stellar.

He started by explaining how the transactions on Stellar work and about how they get banks on board. He says that banks are not the first ones to take up this system of transaction. However, smaller financial institutions like money transfer operators that focus on payments will be more open to adopting this method of sending money.

He said:

“We are working with a few banks and none of them are in production. I don’t think of the banks using cryptocurrency are in production… I don’t think they’re going to do anything until they see a lot of money flowing somewhere else in the ecosystem first because they are the most risk-averse, they have the most to lose essentially.. we spend most of our time outside the US – mainly focus in South Asia, Africa.”

He further explains that there is a lot of friction in places where people do not have bank accounts, wherein the adoption of the Stellar network makes it easier for them to adopt the system.

When asked about how much responsibility they have as a network to allow ICOs to function, Jed talks about the company being unable to stop anyone from issuing a token on the network but they wouldn’t be involved in the same. However, he says “Our responsibility falls on the ones that we do work with.. we want to make sure there is reputable and valuable projects”.

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He also says that people need to be careful while investing in ICOs as these are the early days in the space, due to which there are a lot of scams and fraudulent activities.

A crypto enthusiast commented:

“This was a great discussion. I loved how Jed did a great job answering the questions even though they were irrelevant. I think it could have been more detailed about the backstory of Stellar and the challenges the faced instead of talking about Jed’s life history. Im sure the audience wanted to know more than just unnecessary things.”

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