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Blockchain News

Chinese Blockchain Rankings: EOS Is First, ETH Second, BTC 15th

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In the latest news centered around the topic of blockchain on our DC Forecasts crypto news site, we are focusing on China’s latest government-sponsored rankings of major cryptocurrencies which placed Bitcoin (BTC) on the 15th place, Ethereum (ETH) at the second and EOS (EOS) as the clear winner when it comes to its advances in blockchain technology.

The rankings were released in a press release on January 24th.However, they were first announced in May last year, in which EOS keeps its place as the most dominant blockchain behind an altcoin, occupied by the platform since June 2018.

What’s also interesting is the fact that the ninth CCID Global Public Chain Technology Evaluation Index has also placed EOS first in the ranking, just like the last such index which was released in December of last year.

The second position is held by ETH and Bitcoin, surprisingly for many, falls on the 15th place in this ranking. Many analysts think that Ethereum would be first if there wasn’t a major delay on its Constantinople hard fork.

Ripple, however, seems to be advancing in the field of blockchain. As we recently reported, XRP is launching a blockchain research scholarship in partnership with a major Chinese research university.

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Altcoin News

Binance Chain Launch: Expected Mainnet Swap Set For April 23

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One of the largest companies in the crypto sphere, Binance, is featured in the latest cryptocurrency news for launching its mainnet named Binance Chain with which it expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an official announcement on April 18. Initially published in December 2018, the plans to launch its own blockchain date back to months ago when Binance intended to build a basis for issuing new cryptocurrencies as well as initial coin offering (ICO) tokens.
"Binance Chain launches its mainnet and plans to execute Mainnet Swap on April 23, 2019.Please note that all dates are only our best estimates and are subject to change depending on how things progress. Please stay tuned for any updates during this period."
The Binance Chain launch will also see Binance producing blocks with consensus from the genesis block as of today - and its native coin BNB is planned to be issued in the genesis block. Along with the launch, the exchange provided details for the conversion of ERC-20 based BNB tokens into native Binance Chain-based BNB (BEP2) coins. As such, the exchange emphasized that it will not support the withdrawal of ERC-20 BNB tokens after April 23. Both Binance Chain Explorer and Web Wallet will be available to selected partners in the beta testing mode and are expected to be opened to public access "around April 23, 2019" according to the announcement. What's even more specific in this coming altcoin news is the fact that Binance is planning on releasing more BEP2 coins as more users convert their ERC-20 BNB coins to BEP2 BNB with the Binance Chain launch, while the proportional amounts of the ERC-20 BNB tokens will be burned while "keeping the total supply across both networks constant," as the exchange noted. Currently, Binance is the third largest cryptocurrency exchange in the world. The Q1 2019 profits of the business recorded an increase of 66% compared to the previous quarter, as reported by many best cryptocurrency news sites. In another report, it is shown that Binance earned $78 in Q1 profits due to a massive growth in its over-the-counter platform. Recently, one charity arm of Binance said that it would launch a crypto donation channel to suppor the reconstruction of the Notre Dame cathedral.
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Altcoin News

Huobi Crypto Exchange Adds Three Trading Pairs For XRP In The USA

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Huobi crypto exchange and its USA based version Hbus, have launched three more trading pairs for XRP. In our latest cryptocurrency news today we read more about this amazing news. According to the announcement, Huobi crypto exchange added three trading pairs including USD-XRP, Bitcoin BTC-XRP, and Tether (USDT)-XRP. The news came in a press release just today. All of the XRP deposits will be opened at 12:00 a.m. All of the withdrawals for the trading pairs will go live tomorrow on April 19th. The Huobi crypto exchange branch Hbus and its CEO Frank Fu commented on the new addition. He pointed out that XRP is the 20th listed digital asset to the platform which means that the exchange is now at a total of 51 trading pairs. The press release describes XRP as a ‘’strong performing coin with broad utility and volume.’’ It also explains how the Ripple Labs Company is driving mass adoption by making a lot of partnerships. The Ripple network will reach mass adoption for the cross-border payments system. To press time, the XRP token is the third largest cryptocurrency on the market with a market cap of around $14.2 billion. As previously reported in many of the best cryptocurrency news sites, the Huobi crypto exchange marketplace initially launched with the name Hbus in 2018 in June. This was a strategic move of the Huobi Group which is the operator of the Huobi Global Crypto exchange and is ranked at the eight place in the world. All of the US trading services on the platform went live in 2018 July. At the start of this year in January, the Hbus operator in San Francisco rebranded the name into Huobi crypto exchange-Huobi.com. After a lot of controversy and speculation, XRP was listed on the professional trading platform of the major US crypto exchange Coinbase for the first time in February 2019 which made the coin’s price skyrocket. Later in March, Coinbase also added functionality for the asset which made possible for the customers to make zero-fee cross-border transactions and payments with the help of XRP and the stablecoin USD coin. Currently, the Huobi crypto exchange is at the 183rd place as an exchange globally which means it reaches up to $90,000 in trades in just a period of 24 hours.
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Blockchain News

Legal Blockchain Experts Are In High Demand: Report

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The demand for legal blockchain experts is constantly increasing, according to a new report issued by the managing director of Major, Lindsey & Africa, Brian Burlant. The director recruits for law firms and in-house legal departments. Officially published by a lot of legal news and best cryptocurrency news sites as well as the information site Law.com on April 17th, the report shows that a lot of law firms are having difficulty keeping up with cryptocurrency and blockchain industry demands for lawyers because of a current lack of candidates who really understand the technology. Burlant also mentioned that a lot of lawyers enter the space from various regulatory practices or directly from the government, where they were previously engaged in similar practices related to cryptocurrencies. According to Burlant:
“For law students and those early in their legal careers, coupling a practical business approach with a working understanding of the technology is a good way to go.”
The need for legal blockchain experts need to have a background in blockchain, which is definitely increasing according to Burlant. As he advised, new law students focus on blockchain, and not on cryptocurrencies, as blockchain “will be a game changer.” As part of the latest cryptocurrency news, the director also noted:
“I think that the blockchain space was extremely popular for lawyers toward the end of 2017, and then the cryptocurrency crash happened, and a lot of lawyers who were working in crypto or blockchain went back quietly to whatever they were doing before, like Silicon Valley in the ’90s.”
Young also said that the privacy law has grown substantially and that most global and national companies have added capabilities in privacy and data security sectors in the course of the last five years. According to the published forecasts, the global spending for legal blockchain experts could amount for almost $2.9 billion in 2019 which is a 88.7% increase from 2018. The financial industry is expected to lead the industry in terms of spending in blockchain development this year - especially in sectors such as banking, securities, investment services and insurance. As reports show, these sub-sectors are forecasted to invest more than $1.1 billion out of the total global blockchain spending.
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Blockchain News

Gemini Crypto Exchange Includes SegWit Support To Its Updated Wallet

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Gemini crypto exchange, one of the most popular ones on the crypto market, has included SegWit support to its new wallet infrastructure. The Winklevoss twins revealed the new bitcoin address in an official blog post that we have in our latest cryptocurrency news below. The Gemini crypto exchange was founded by the Winklevoss twins and they announced the support for Segregated Witness on their blog post two days ago. SegWit is basically a scalability solution meant for the bitcoin network that was first launched in 2017. SegWit helps with the increasing block size and moving the ‘’witness’’ signature data to a whole another location. This way the malleability of the transactions in solved and the Gemini crypto exchange is among the first to use the solution. The author of the blog post, Brian KimJonson explained that the developer team will enable SegWit addresses to be easily used for both BTC withdrawals and deposits. The Gemini crypto exchange also announced the support for transaction batching and according to Brian; they are the first to launch a full SegWit Support. KimJohnson also pointed out that the Winklevoss twins didn’t make the decision quickly without considering it twice. He pointed out that the choice to use the native addresses was based on saving the block space as well as to follow safety measures. The arguments go on further to promote SegWit since the segregation of digital signatures from all the transaction data will decrease about 30-40 percent less. This way the block space occupation will be decreased thus the fees will also be dramatically lower. The Gemini crypto exchange blog post also explains that the support will enable a working ground for solutions such as the Lightning Network’s second-layer solution for the bitcoin scalability issues. As previously reported in our altcoin news, San Francisco-based Coinbase and Global Digital Asset Exchange GDAX or better yet Coinbase Pro, also provided SegWit support for BTC transactions at the start of 2018. Both the Gemini crypto exchange and Coinbase pro are included in the new index for 10 crypto exchanges from the Messari crypto analytics company. The Index is better known as ‘’Real 10 Volumes’’ was initially created in order to spread awareness over the fraudulent trading volume that is constantly reported by unregulated exchanges.
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