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.
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Ethereum Rises 13% Overnight, Crypto Market Is Ready For A Recovery
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.”Over the past several months, Bitcoin and the rest of the market have shown similar price patterns. However, because the market had experienced extended periods of low volatility in the past few months, many traders expected the trend to continue. According to the cryptocurrency analyst DonAlt and his statement:
“I’m incredibly bullish on ETH for the next few weeks. I’d get a cardboard Vitalik cutout if I could just so I have it by my side 24/7. No matter what BTC does ETH will outperform the market in my mind. I’ll use dips as giant buying opportunities.”However, he also added that the movement was controlled and it is currently at a key resistance.
Top Cryptocurrencies See Green, Ending Week With A Positive Action
Vitalik Buterin Claims New Constantinople Feature Won’t Have Negative Security Implications
‘’One of the things that is counter-intuitive about Create 2 is that theoretically redeployments can change the contract byte code, because the address is only a commitment to the init code. People need to be aware that init codes are part of auditing and that non-deterministic init codes are a problem.’’Coleman says that all of those who are looking to audit others’ code need to look out for other weird phenomena. Buterin in the meantime also pointed out:
“The one thing we need to keep in mind is more for the future, when thinking about rents and deletion; that’s a way that can lead to contracts being in a state to being not in a state without a self-destruct operation [...]. It’s not something we need to figure out in the next few weeks, but it's still useful to keep in mind when getting the ETH 2.0 sharding to a VM spec very soon."The developers also decided to delay the implementation until a third-party audit is completed.
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