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Ethereum News

Robinhood Unveils Ethereum Classic To The App, Coinbase To Follow

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The Robinhood Crypto app just got renewed, this time with an option for investors to buy Ethereum Classic (ETC) directly from the platform. The news came just a day before Coinbase added the option as well.

According to Robinhood’s official statement, the option will be available in 19 US states with access to the service. All of the users in those states can trade ETC right now – aside from the other cryptocurrencies which include Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Dogecoin.

As the post states, the users will be able to “track market data for 10 other cryptocurrencies”.

Meanwhile, Coinbase is also expected to launch support for Ethereum Classic (ETC) tomorrow. As the company announced last week, they have begun the “final testing” for the cryptocurrency and would start accepting transfers in ETC from August 7th. Still, the new option will be at first available only to users of Coinbase Pro and Coinbase Prime and no customers will be able to trade ETC right from the start.

As the company said:

“We intend to allow 24–48 hours of transfers through Pro/Prime before opening the markets. In accordance with our Trading Rules, all ETC books will open in post-only for a minimum of 10 mins. Once sufficient liquidity is established, trading will then be enabled on Pro and Prime,”

It was Coinbase that first announced the addition of Ethereum Classic to its platform, saying that the selection was “consistent with the Digital Asset Framework that the company has.” This also triggered the Coinbase token which surged 25% in 30 minutes, going above $16.

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Ethereum News

Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork

The major US exchanges Coinbase and Kraken are among the latest organizations and exchanges to confirm their support for Ethereum's (ETH) Constantinople hard fork, according to their official announcements on Twitter yesterday which are in the focus of today's crypto news. With this, Coinbase and Kraken join Binance, Huobi and OKEx in pledging to monitor the event which will trigger at Ethereum block height 7,080,000 and is expected this week. As Coinbase's staff  wrote in the post:
“Coinbase intends to support the Constantinople Ethereum (ETH) upgraded. Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm security of the network.”
Kraken also confirmed the support of Constantinople in a tweet, adding that the exchange "expects that this will be a non-contentious fork" and will not spark competing ETH chains like the Bitcoin Cash hard fork which occurred in November.
“Kraken will be supporting this. No new coins will be credited to ETH holders as we expect the old chain will quickly become obsolete," the exchange said on Twitter.
Meanwhile, ETH/USD has been seeing short-term support in the run-up to the hard fork, seeing the largest gains in the top twenty cryptocurrencies over the past 24 hours and surging by 8.7%.
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Ethereum News

TrustToken (TrueUSD) Develops A New Method For Managing Client ETH Addresses For Crypto Exchanges

In today's crypto news, we have TrustToken which is the developer and issued of the stablecoin TrueUSD - and its new novel method that allows crypto exchanges to manage millions of addresses associated with TrueUSD as well as other ERC20 tokens. According to TrustToken, this is the first publicly available means of easily handling thousands of millions of addresses for crypto exchanges within a single wallet, reducing the amount of Gas (Ethereum used for transaction fees) that is required for the maintenance of wallets that accept the TUSD stablecoin. However, this update to the TrueUSD smart contract does not only have to apply to TUSD. The token's code is open-source which means that other tokens and outfits can replicate the method. In an official press release, the Head of Engineering at TrustToken Rafael Cosman described the new technology as following:
"While exchanges are currently able to set up individual addresses for users, there is no standardized process for the backend accounting for how these accounts are settled, and each transaction requires gas payments. AutoSweep is the first implementation of an ‘alias’ feature for an Ethereum-based token and allows exchanges to significantly improve both the accounting structure and save on time and gas cost by automatically sweeping user accounts to the central wallet."
The press release also includes a diagram on how the process works. According to the lead engineer, "the AutoSweep features have big implications for the Ethereum blockchain more generally and could be applied to any ETH token." All of this could make ERC-20 token trading cheaper and help exchanges to benefit from a new discovery, saving thousands of dollars on behalf of their customers through gas savings.
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Ethereum News

$100,000 Reportedly Returned From Ethereum Classic 51% Attacker

The Etherecum Classic 51% attacker has allegedly returned the stolen $100,000 to the Gate.io cryptocurrency exchange according to the official blog post of the exchange and now we are reading more about this information in our ethereum news. Gate.io noted in the official blog post that they tried to contact the attacker but didn’t get any response until now and claim to now know the real reason why the funds have been returned. The company stated:
 “If the attacker didn't run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.”
A white hat hacker is someone who has a strong knowledge and hacking abilities that are used for good and not for personal gain. It is seen as ‘’friendly security specialist.’’ On January 9, the exchange published their analysis of the attack saying that about 54,000 ETC in total were transferred when the attack occurred. Other crypto exchanges such as Coinbase stated that the total sum of money that is involved in the deep chain reorganization is about $1.1 million worth of crypto. Gate.io pointed out that the hashrate of the Ethereum Classic network is quite low but it is still possible to rent computing power for another 51 percent attack. A deep chain reorganization in the ethereum classic blockchain was identified by Coinbase on January 5th and that’s when the company took stocks of a few double spends on the network. Also the founder of Litecoin Charlie Lee, also declared that decentralized cryptocurrencies need to be susceptible to 51 percent attacks.
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Ethereum News

Is Google Blacklisting Etherreum-Based Ads On Its Platform?

In the latest digital currency news, we have an Ethereum startup from Serbia that recently discovered that its advertisements on Google were not actually shown in some regions. As the startup discovered, the keyword "Ethereum" has been banned on Google Ads and is not served to users on the platform. Obviously, the startup attempted to contact Google and resolve this issue - or potentially find the reason for their partial media presence and get further clarification. On January 12, a representative from Google said that Google did not respond to the firm, writing the following:
"We’ve been using Google Ads for the past 6 months to help us get more visibility for our smart contract auditing services and we’ve noticed a strange change in the last few days. It seems that Google completely blacklisted Ethereum as a keyword. Any of the keywords that contain ‘ethereum’ in our campaigns are no longer showing ads as of January 9th."
As we can see from the above written, Google has not totally blacklisted Ethereum or other crypto advertisements in general. However, it is definitely moving slowly towards cutting down the advertisements based on Ethereum and crypto, mostly because of the numerous scams and fraudulent operations that it saw in the crypto sector last year. In March, we received the latest update from Google executive Scott Spender when he imposed a blanket ban on cryptocurrency ads. At the time, Spencer said:
"We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution."
The disapproval of advertisement filings by Google is not exclusive to Ethereum or Ethereum based startups. However, it is clear that the conglomerate giants needs to decide how it will filter out all of the scams and ads promoting fraudulent activities from the real startups and crypto-related ads.  
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