Binance CEO Changpeng Zhao claims that despite the $40 million hack, the exchange is not suffering at all, not even after losing of 7,000 BTC. The coming altcoin news will give you some more insight on how the exchange is coping with the hack aftermath.
CZ encouraged everyone that wants to donate to the exchange; they can do that to Binance Charity during a live stream on Twitter in which he answered many more questions despite those related to the hack. He also pointed out the question about smart contracts and how they are not a first priority for the new binance Chain:
‘’We have not, to be honest, thought too much about the governance model of Binance Chain.’’
While speaking about Binance Chain, CZ said that the projects which are already on the chain will have a much higher chance of being listed on Binance. The statement shows that the exchange giant will give a head start to such projects regardless of whether they have significant interest from the community or not. Any existing token project who aims to be listed on Binance will only need to use the nascent chain in order to find the right way to better liquidity.
CZ also pointed out that Tether USD can only be withdrawn in the Omni BTC version. The ERC-20 version of Tether is not yet available on the exchange. While answering questions on the hack aftermath, CZ also pointed out that other exchanges will also release a similar version of the chain. Most of the blockchain projects are open source but Binance Chain’s code is not publicly available yet. He says that he wants some more traction on Binance Chain before open sourcing.
As the latest cryptocurrency news report, the Binance CEO also says that SegWit ‘’is on the roadmap but is a lower priority’’ since Bitcoin is going well so there is no rush to introduce the SegWit or the Lightning Network.
At the end of the Q&A, the Binance CEO pointed out that hackers were able to ‘’structure the withdrawal request in a way that did not violate any of our existing security policies.’’
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“With Skyweaver using Ethereum, it means you can send your cards to your friends, trade them with other players on our platform, trade them on another website, buy/sell them on Reddit, burn them, lend them to people that want to play with your cards while you are on vacation, etc. Basically, we can't prevent you from doing whatever you want with these cards, just like physical cards.”SkyWeaver is now working in a private beta and is expected to launch later this year and in the meantime Horizon is inviting new players to try out the game every week as we read in the reports in the coming altcoin news.
Crypto Exchange Poloniex Drops 23 Pairs Due To Low Volume
‘’We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.’’More than half of the listed pairs are in ETH, about six are XMR pairings and the rest are stabelcoin pairs for the various obscure altcoins. Some of them include Loom Network/ USDT which has $50 traded in the past day, Status/USDT with just $157, Bancor/USDT trading only $75 per day, FOAM/USDC and the worst performing pair which is the Khyber Network/USDT. Some of the ETH pairs were popular altcoins with high volumes such as Golem, Qtum, GAS, Steem, OmiseGO and Civic but after bitcoin, Ethereum and Zcash as top pairs on the exchange, all others burst into flames. The Monero paris aside from BTC and stablecoins will also be dropped because of the low volumes. This could only be the case of falling volume on that particular exchange because the same pairs on Binance are doing really well. Compared to two years ago in 2017, the altcoin scene looked a lot different than today and many of the altcoins have now falled off the digital cliff in terms of token price regardless of other developments on the project by the respective teams. Two years ago in August, IOTA was the fifth largest cryptocurrency by market cap which was priced at $0.94 with a $2.6 billion market cap. Today as we can read in the latest cryptocurrency news, IOTA is struggling to say in the top twenty and is down by more than 75%. The Crypto Exchange Poloniex drops the pairs and we shall see if any major fluctuations will happen.
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