Binance Enters South Korea, Gets Approval for OkCoin
CryptoKitties Ran Wild on Ethereum First. Now Tether Is Clogging the Digital Ledger
The digital ledger behind the supposed better version of Bitcoin is running out of capacity. That was the warning last week from Ethereum co-founder Vitalik Buterin, who noted that the cost of processing transactions done in the digital token Ether on the underlying blockchain may get too expensive for some users. Ether’s network utilization has spiked into the 90% level, according to tracker Etherscan. As utilization increases, transactions costs could follow suit, possibly making potential corporate users hesitate to use Ethereum, Buterin said. Almost two years ago, Ethereum was getting clogged up as the digital game CryptoKitties took off. Then thousands of initial coin offerings, which turned out to be mostly scams, took up space on the network. More recently, though, as a majority of the ICOs went bust, a new tenant is taking over Ethereum: The controversial coin known as Tether. In the last 30 days, Tether paid computers which process transactions on Ethereum’s digital ledger $260,000 in fees, according to data researcher Ethgasstation. That’s about 17.5 times more than CryptoKitties and six times more than the world’s largest distributed exchange, IDEX. Tether’s use has been growing, as more of the coin has been issued. Its market capitalization recently passed $4 billion, up from $2.7 billion a year ago, according to CoinMarketCap. And at least 40% of all Tether runs on the Ethereum network, John Griffin, a finance professor at University of Texas at Austin, estimated in July. Tether was used in 40% and 80% of all transactions on two of the world’s top crypto exchanges, Binance and Huobi, respectively, Coin Metrics said recently. As Tether takes up more capacity, that leaves less for other developers. Ethereum was touted by enthusiasts when it was created as a better Bitcoin—one with extra features that would let people automate tasks and even set up so-called autonomous corporations, ones that run themselves via software. But most of the most popular so-called dapps—apps designed for such networks—currently run on competing digital ledgers, according to tracker DappRadar. Some developers are staying away from Ethereum for now, waiting for it to tweak its technology to increase network capacity, said Jeff Dorman, chief investment officer at Arca, a Los Angeles-based asset manager that invests in cryptocurrencies and other digital tokens. “So the biggest implication today is simply that developers may be incentivized to wait until this transition happens before fully committing to build on Ethereum,” Dorman said. “Tether isn’t helping.” Ethereum is still working to figure out how to get to its ambitious vision of Ethereum 2.0—requiring a major overhaul of its technology that some worry may not even work. While Ethereum currently employs computers called miners to verify transactions—a setup Bitcoin uses as well—it’s moving to so-called staking, a completely different way of verifying transactions. Techniques such as sharding, in which certain groups of computers keeping track of only certain transactions versus all transactions on the network—should help as well. But this technological transition “is not a guarantee and is still on the horizon,” Dorman said. “The Ethereum blockchain has been ‘almost full for years,”’ Buterin said in an email to Bloomberg. “I think it’s still good to develop apps, but anything substantial should be developed with scalability techniques in mind, so that it can survive higher transaction fees that would come with further growing demand for Ethereum. In the longer term, Ethereum 2.0’s sharding will of course fix these issues.” The number of Ethereum transactions is actually down from their peak in January 2018, according to Etherscan. Average Ethereum transaction fees are still many times lower than Bitcoin’s, but they’ve been volatile, according to BitInfoCharts. Tether was introduced in 2015 as a way to provide liquidity to exchanges because lingering concerns about illegal uses have made it difficult for them to secure banking services. New York’s attorney general in April accused the companies behind Tether of engaging in a cover-up to hide losses and co-mingling client and corporate funds.
Global cryptocurrency exchange platform Binance is entering the South Korean Cryptocurrency platform with the launch of Binance KR. According to a blog post by Binance, the company is planning to launch Binance KR and is paving its way in the South Korean market. The crypto trading platform is launched on Binance cloud which was unveiled last month. 28/08/2020 Trending Bitcoin News and Market Sentiment, Weekly Edition 28th August, 2020: ... Cryptocurrency exchange Binance sets up $50 million Indian blockchain fund – The Economic Times https: //t.co/eVHbTk12tM — CZ Binance 🔶🔶🔶 (@cz_binance) March 17, 2020. The fund that is backed by Binance Coin (BNB), Binance USD (BUSD) and WazirX (WRX) is an attempt to fuel adoption in the ... To help filter through, cryptocurrency news aggregators have come up. These are websites or platforms that list the headlines of what’s happening in the crypto world plus links to the actual news articles on third-party websites. Below we are going to look at 14 of the best cryptocurrency news aggregators. 1. CryptoPanic The growth in the cryptocurrency industry has been made possible by the presence of crypto exchanges, and in that regard, Binance has been one of the most influential. In a new development that should come as a major boost to the crypto sphere, the crypto exchange announced that it is all set to launch its operations in South Korea . Binance recently came under fire for purportedly suspending a Binance Singapore user’s Bitcoin withdrawal for some time after flagging the transactions as “risk management”. The platform notified the user that a few cryptocurrency withdrawals were made using coin-mixing service CoinJoin, which is part of the privacy-focused wallet Wasabi.Among other inquiries, the Binance Singapore team ... Binance Card. The Binance Crypto Card taps into one of the largest global cryptocurrency exchanges, allowing users to automatically transfer crypto from their main Binance wallet to their Binance Card wallet. It follows Binance’s acquisition of Swipe, a leading digital wallet and debit card platform. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. A movie is being made about Onecoin's cryptocurrency Ponzi scheme starring Oscar winner Kate Winslet. This Hollywood MGM movie is based on a true story told by a victim of the cryptocurrency fraud ... 6. News.Bitcoin. This website was founded in 2018 and today it has more than 1 million page viewers per week. Here you can find some exchange recommendations, wallets available and mining information as well. 7. CCN. CCN is one of the best crypto news websites where you can find the latest news and updates on cryptocurrency developments around ... Soon after the furor around Facebook’s cryptocurrency venture, Libra, had sobered down, news about China’s interest in the blockchain and cryptocurrency industry became the talk of the town. While China has time and again advocated that blockchain is what the country is for and not cryptocurrencies, the recent cryptography law and the imminent launch of […]
Binance.US brings you the trusted technology from the world's leading crypto exchange, Binance. Trade your USD for bitcoin, ethereum, and other cryptocurrencies. Trade your USD for bitcoin ... CZ, founder and CEO of Binance, is LIVE with us to answer ALL your questions regarding bitcoin, binance, and cryptocurrency in 2020! [This is NOT sponsored!]... I showcase how to buy bitcoin/etherium/litecoin/bitcoin cash and bring it to the binance exchange. Binance new crypto launch Cryptocurrency new coin launch #cryptocurrency #binancecoin #Bitcoin how to open Binance exchange to buy bitcoin #cryptotradingexchange #binance # howtoopen Binance link: https://www.binancezh.pro/en/register?ref=XW91KRSO buyi... Registreren Binance Exchange: https://cryptotips.eu/ga-naar/binance Direct cryptocurrency kopen met iDEAL: https://cryptotips.eu/ga-naar/bitvavo Binance Revi... Find out How To Buy Bitcoin On Binance With Debit Card Fast? 🔶 Binance: http://theappsworld.com/link/binance (5% discount on fees!) Subscribe: https://www.yo... Latest Cryptocurrency News Bitcoin Analysis & Price Prediction Samsung Travala Binance Etc. Latest cryptocurrency news today in hindi Video covers th... Watch this tutorial video to learn how to withdraw cryptocurrency from a cryptocurrency exchange. This tutorial uses Binance and My Ether Wallet as an exampl... Registreren op Binance: https://www.binance.com/?ref=29301307 In deze video laat ik jullie zien hoe Binance werkt, hoe je aan te melden, een deposit te doen ...