On Tuesday, Tether announced a sizable swap of USDT from the Tron blockchain to the Ethereum protocol. Tether explained that the amount of USDT in circulation would remain the same, meaning that USDT (TRC-20) will be burned and the same number of tokens will be issued on Ethereum. Tether makes use of several blockchains to host the circulating supply of USDT, which allows users to bypass congestion in a certain chain if the need arises. This system also makes USDT use easier for users invested in a certain platform to continue transacting in USDT and makes the stablecoin somewhat of …

Veteran cryptocurrency exchange Bitfinex has announced an open-source peer-to-peer data streaming platform that will allow users to share media across a decentralized network. The code for Bitfinex's "Dazaar" protocol has been uploaded to GitHub, describing a decentralized network in which distributed node operators store the information shared among users. In an announcement, Bitfinex states that the platform’s creation was motivated by the increasing reliance on centralized platforms such as search engines, social media, and messaging apps to facilitate the sharing of data and media. Bitfinex open-sources P2P streaming protocol Bitfinex describes the Dazaar platform as a crypto-powered protocol for monetized …

The latest report from Flipside Crypto takes a deep look into Tron (TRX) with the hope of answering a question many critics in the cryptocurrency space have posed: "Is Tron a scam?”. Dubious past The report starts by rehashing the Tron’s compromised origins story — from the allegedly plagiarized white paper to the promise of the $20 million giveaway that was never fulfilled. However, the report comes an unexpected conclusion: “Turns out, looking at the active supply of TRX in the past 30 days reveals a very healthy and active ecosystem.” TRX 30-day asset flows. Source: Flipside Crypto. Glorias present …

China’s Center for Information and Industry Development, or CCID, revealed on June 18 that its 18th CCID Global Public Chain Technology Evaluation Index. This index ranked 37 well-known global cryptos using technical specifications. According to the table published by local media Chainnews, Bitcoin (BTC) was placed in the 12th place, with 106.2 points. The criteria used to evaluate cryptocurrencies include basic technology, applicability, features, performance, safety, creativity and decentralization. At the top of the table, EOS leads the ranking with 156.1 points, followed by TRON with 138.43 points and Ether (ETH) with 136.4 points. The leading cryptocurrency scored 20.4 points …

A report published by blockchain and AI investment firm Outlier Ventures has found a decline in developer activity of roughly 20% on average across 12 leading blockchain and cryptocurrency projects. In Outlier Ventures’ Blockchain Developer Report for the second quarter of 2020, the firm notes that development fell by half for top markets Bitcoin Cash (BCH), Eos (EOS), and Tron Tron (TRX). Despite the retraction in building, the firm notes that some signs of strong developer activity surrounding various crypto projects, with Theta (THETA) and Cardano (ADA) seeing increases in core code updates of 931% and 580% respectively. Top crypto …

A report published by CoinMetrics has found extreme wealth centralization among many top stablecoins, with at least 80% of the total capitalization for five top stable tokens being held in less than six accounts. CoinMetrics found that most at least 20% of transfers made using most stablecoins are valued at less than $100, showing significant stable token adoption as a means of payment. The report also found that more than 40% of transactions made using the Paxos Standard Token (PAX) are directly linked to a single multi-level marketing, or MLM, Ponzi scheme. Stablecoins show extreme wealth centralization The report found …

Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and BUSD wallets are now live on the exchange, with markets for the corresponding pairings slated to launch in post-only mode to ensure stability before full trading functionality rolls out. Binance tokens listed on Poloniex The listings bring support for six new pairings, with Binance Coin now tradeable against Bitcoin (BTC), Tether (USDT), and Tron (TRX) in addition to BUSD, and Binance USD also supported against USDT and BTC. …

Although the Bitcoin (BTC) halving generated a lot of interest proceeding the event, it has failed to kickstart a trending move after completion of the event. This suggests in hindsight that the event was priced in. However, the top-ranked cryptocurrency on CoinMarketCap has not given up much ground following the event, which suggests that traders who purchased before halving are confident that the path of least resistance is to the upside. Crypto market data daily view. Source: Coin360 While Bitcoin has been consolidating in the past few days, the action has shifted to altcoins whose market capitalization has risen from …

A new kind of cryptocurrency tipbot allows users to pay others to answer their questions on social media, providing a new tool to pool data in the ecosystem. Liser Lee of CCTip told Cointelegraph that the system can help drive engagement or generate expert commentary. It lets users create a Twitter poll and automatically pay anyone who shares it with cryptocurrency, helping a poll gain more exposure and answers. The company is also considering a system pays the poll respondents instead. Other than Twitter, CCTip will also work on Telegram, Discord, WeChat and on Reddit as well. It supports 200 …

Soon after an unknown entity “rescued” $5.7 million worth of STEEM tokens from a “New Steem” hard fork seizure, Bittrex confirmed that the funds reached their account. The crypto exchange now faces a difficult decision of what to do with the 23.6 million STEEM tokens allegedly stolen from Steem witnesses. In a May 21 statement, Bittrex co-founder Richie Lai confirmed that the entity of the transaction initiator, the account named “community321,” remains unknown so far. Lai pointed out that there is an allegation that the account could be hacked outside of Bittrex. The statement reads: “This morning, someone deposited 23,627,501 …

As part of the long-running Steem drama, the Steem (STEEM) network experienced another fork today. Particularly designed to tackle “constant attack from malicious accounts,” the new hard fork doesn’t appear to have been entirely successful. Code named “New Steem” the hard fork 0.23 had two primary aims. The first was to reduce the power down period from 13 weeks to four weeks. The second was to seize 23.6 million in STEEM tokens from Steem accounts and stakeholders associated with the Steem blockchain’s rebel and fork, the Hive blockchain. The latter goal has apparently failed as the seized funds were ‘rescued’ …

The debate over which consensus algorithm is right for blockchain is long overdue. While proof-of-work remains popular with Bitcoin (BTC), interest in proof-of-stake protocols has been picking up speed, especially with the planned shift of Ethereum to a PoS, Ethereum 2.0. Which one is better, though, remains up for debate. For example, Ankit Bhatia, a co-founder and the CEO of Sapien, told Cointelegraph: “Proof-of-stake is simply more scalable because it eliminates the race to solve math problems and the need for computation to grow the pot.” According to Bhatia, PoS’s ability to make use of sharding makes it the better …