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Tron [TRX]’s Justin Sun congratulates Vitalik Buterin as Ethereum takes another step further to join PoS family

Priya

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Tron [TRX]'s Justin Sun congratulates Vitalik Buterin as Ethereum takes another step further to join PoS family
Source: Unsplash

The whole cryptocurrency space is well-acquainted with the constant brawl between Vitalik Buterin, the creator of Ethereum, and Justin Sun, the Founder and CEO of Tron Foundation. This time the duo is back in the limelight due to the upcoming Ethereum hard fork, Constantinople, which is scheduled to occur on block #7080000.

Yesterday, January 9th, one of the core developers of Ethereum, Peter Szilagyi announced that the Constantinople hard fork was successful on the Rinkeby Testnet, one of the three Testnet’s of Ethereum that resembles the production chain. The successful hard fork on the Testnet comes across as an important milestone as it effectively means that the hard fork on the main chain could be smooth and successful.

Peter Szilagyi said on Twitter:

“Rinkeby #Ethereum testnet successfully forked over to Constantinople! All signers, bootnodes, faucet online and working well. Clean split between new and non-upgraded nodes (please update!).”

This announcement caught the attention of Justin Sun as he said on Twitter:

“Congrats to @VitalikButerin and one step furthur to join POS family! #TRON#TRX$TRX”

This is not the first time Sun has thrown shade at Buterin on the topic of Proof-of-Stake [PoS]. Prior to “congratulating” Buterin, Sun welcomed him to the Proof-of-Stake family. This was in response to Buterin’s tweet to Charlie Lee, the creator of Litecoin, wherein Buterin asked Lee whether he wanted to move Litecoin to PoS algorithm.

Sun’s reply to Buterin comes in the wake of Casper’s launch, which is scheduled to take place in the next couple of months. Casper is Ethereum’s Proof-of-Stake [PoS] protocol, and in an interview, Buterin claimed that Ethereum’s Proof-of-Stake protocol is much more powerful in comparison to other projects already using the PoS algorithm. The protocol would be effectively shifting Ethereum from a Proof-of-Work algorithm to a Proof-of-Stake.



Tron has been a part of the Proof-of-Stake community for a long duration now. The project has been using Delegated Proof-of-Stake algorithm since August 2017.

J_I_Beiver, a Twitterati said:

“You are selling all the ETH and BTC you have in front of your own event and you are buying up TRX”





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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.

Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

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Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





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