In this week’s crypto news, there are a lot of rumors and reports that center around the altcoin NEO and a potential fork of it that calls itself “NEO Super.” The venture launched apropos of nothing at all and has one real project behind it – a wallet service that some community members fear that could be an effort to scam NEO users out of their private keys.
However, one reporter has found that the NEO Super project is an effort to “snapshot” the NEO blockchain and use it on the Ethereum network, complete with “mining opportunities” and more. As the reporter notes, NEO Super wants to take “the most successful” elements of NEO and use them in the form of a standard ERC-20 token contract.
With only 39 Twitter followers, the Twitter account of NEO Super was banned and the project’s GitHub repository has made no notable changes or commits to the NEO codebase. Because of this, one reporter was quick to jump to conclusion and say:
“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”
If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services.
On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”
To sum things up, this project is very confusing to declare it a scam outright – and very unknown and confusing to necessarily recommend. We’ll keep a close eye on it in the future and notify you if there were any drastic changes.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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- Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
- A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
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