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Zebpay de-lists VeChain [VET], provides no explanation

Priyamvada Singh

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Zebpay de-lists VeChain [VET], provides no explanation
Source: Pixabay

On 8th August, the official Twitter handle of a leading cryptocurrency trading platform Zebpay announced that it is de-listing VeChain token. The Twitter announcement read:

“Zebpay regrets to inform all our valued traders that we are delisting VeChain token and discontinuing VeChain trading and transfer transactions.”

The deadline for VeChain deposits is 9th August 2018, 4 PM IST, whereas, for withdrawals, the deadline is 20th August 2018, 4 PM IST. Zebpay, in its official announcement, also mentioned the deadline for VeChain trading, which is 13th August 2018, 4 PM IST. Moreover, the platform will auto-cancel all the pending orders placed post 4 PM.

Alok Sharma, a cryptocurrency space follower, on the news commented:

“They should have provided the reason for sure which they didn’t but I knew they’ll definitely do so bcus ven is no more into existence there’s vet which is it 100th part(I believe) of ven and these guys didn’t support token swap so that’s why they are delisting it.”

Another crypto-enthusiast, Ravi Maheswari also wrote:

“Ohh the main net swap was too much to do for you guys?”

VeChain recently had its MainNet launch where it swapped its VEN tokens to VET [VeChain Thor] tokens. Currently, the cryptocurrency ranks at the 21st position according to its market capitalization on CoinMarketCap. Moreover, the price of the VEN token has dropped to a steep 21.46 in the past 24 hours.



Zebpay is a leading cryptocurrency trading platform based out of India. Currently, the platform has 19 cryptocurrencies listed on it, with trading pairs more than 35. Earlier in the week, Zebpay also announced that it will provide a 50% discount on transaction fees of certain cryptocurrencies.

Zebpay has also faced challenges from the legal authorities of India after not receiving much cooperation from them. The decision of the Supreme Court of India regarding the stay of cryptocurrencies is due in the month of September.

 





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Altcoins

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





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