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ZenCash [ZEN] becomes the largest node network with over 17000 nodes

Priya

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ZenCash [ZEN] becomes the largest node network with over 17000 nodes
Source: Unsplash

ZenCash [ZEN], a fork of Bitcoin code and a privacy coin, has become the largest node network. At present, the coin has over 17000 nodes, making it the largest cryptocurrency network.

ZenCash on Twitter announced:

“17,000 and Counting! ZenCash is now the largest #crypto network with over 17,000 #nodes.”

The largest network node makes the coin more resilient to hacks and power failures. It also protects the voting system from outside interference. The team considers nodes to be more important than hash power as they ensure that the actors are “behaving properly”.

The team stated:

“The massive network is integral in developing dApps by harnessing large amounts of computational power & bandwidth. Having many nodes is essential to a safe and secure network. Nodes ensure that all the ZenCash’s consensus rules are being followed and can reject blocks that do not comply with the rules.”

The team has been constantly working on improving the ecosystem and the platform. They have been striving to do so by conducting community pools, having Reddit discussions and analyzing the market including the competitors.

The digital currency will be mainly focusing on maintaining system and operational products, implementing protection against 51% attacks, evaluating ASIC resistance options, developing sidechain solutions and looking into the off chain challenges for this year. The team is half-way through completing the important projects.

Moreover, the mandatory software upgrade took place a few weeks back which was perfectly carried out, according to the team. The upgrade included the addition of a new code class, SuperNode. The addition of the SuperNode would make the coin an application-ready platform on which services can be built than limit to being a simple cryptocurrency.

This would also be beneficial to the operators as they would receive 10% of the balance share out of the block rewards. The team aims to have about 20000 to 25000 SuperNodes.



Arithra Menon, a cryptocurrency enthusiast says:

“Congratulations for the team. This is a wonderful achievement. Hopefully they will become one of the top coins in the crypto-market soon.”

According to CoinMarketCap, at press time, ZenCash [ZEN] was ranking at the 75th position. The coin was valued at $21.02 with a market cap of more than $93 million The coin has seen a significant dip of more than 12% in the past 7 days.



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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

76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether

Febin Jose

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Source: Pixabay

Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.

Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.

Source: Twitter

Source: Twitter

Source: Twitter

Source: Twitter

 

 

 

 

 

 

 

 

The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.

In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.

Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].



Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.

Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.

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Altcoins

76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum

Akash Anand

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DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
Source:Pixabay

The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.

Source: CoinMarketCap

At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.

Source: CoinMarketCap

The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.



DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:

“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”

Another DigiByte fan, Mark Brown replied on the same thread saying,

“Tell that to @barrysilbert , he’s the one to talk to brother 😏

@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.

I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”

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