Crypto important news today 05/30/2018
1. Litecoin’s (LTC) Litepay Replacement, Crypterium (CRPT), Undergoing Beta Testing In Australia
The Crypterium App that is now available for your mobile phone (Android for now), turns your cryptocurrencies into money that you can spend as easily as cash. When fully active, the app will allow you to shop around the globe, make online purchases, pay your bills and even send money across borders. With the app, you will be able to get a virtual card that will even enable you to link to your Apple pay, Samsung Pay or even Android pay.
It is with this background that the App is undergoing Beta testing in the country and continent of Australia. The residents of Australia will be amongst the first to get access to the crypto-to-fiat payment solutions offered by Crypterium with bill payments being the first to be rolled out. Beginning May 10th, the Crypterium team has been selecting users in the country to use the Android version of the app. There is also a reward system for such lucky testers. The App will then be rolled out across the globe gradually by the team.
analyse: CRPT is listed on Hitbtc currently, and will release new version in one month.
2. EOS Bug Bounty Launch Raises Questions From Industry Experts
The mainnet launch of EOS is inching closer. As such, the developers want to ensure there are no lingering bugs or fatal flaws for hackers to exploit. A bug bounty program has been created which rewards $10,000 for every bug discovered and shared. This is a positive development, even though the venture also receives some backlash from industry experts.
Analyse: stay away from EOS NOW
3. Kuwait Bank Adopts Ripple for Instant Cross-Border Payments
4. “A Big Threat to Korean Exchanges” – Chinese Capital Floods Korean Crypto Markets
Following the cryptocurrency crackdown in China shutting down all crypto exchanges and ICOs, Chinese investors have turned to the Korean market for opportunities in the cryptocurrency space leading to concerns in Korea that their local crypto-trading industry may become dominated by Chinese investors.
5. Exclusive: “I care little about stock and fiat markets” – John McAfee
His predictions are famous throughout the crypto-verse, not only in terms of various altcoins but also on significant political occurrings. Recently, his prediction for the altcoin Docademic is close to coming true, with a 481% growth in a month’s time. When asked about them, he simply said:
“I made them because they will happen. Absolutely. They always do.”
When asked about the possibility of a massive bull run and its potential triggers, he said:
“I know little of triggers. I only know mathematics. I know a Sunflower will display, mathematically, its seeds in a beautiful spiral pattern. Is the trigger the tilling of the soil? The planting of the seed? The watering? The fertilizer? The spreading of the petals? Who knows? We only know that all of life is mathematics and, if a time slice is provided, the entire universe, at that slice, can be known.”
6. EOS money flowed out 400M in 24 hours.
7. Ethereum Classic [ETC] Hard Fork Defuses ‘Difficulty Bomb’
The ‘difficulty bomb’ that has been on the minds of all Ethereum Classic users has finally been put to rest after the implementation of a new policy that has been two years in the making.
After a disagreement over how to handle the funds lost in the hack on Ethereum’s smart-contract funding project, the DAO, the Ethereum network forked into two separate versions, with most of the developers going with the version of the blockchain that agreed to rewrite history and return the lost funds.
Ethereum Classic supporters felt that the chain should never be altered, and continued the original Ethereum protocol while the project now called Ethereum switched to Proof of Stake to eliminate mining as a form of validating transactions. A feature was implemented in the chain prior to the fork to reduce mining rewards and incentivize developers to switch to PoS but Ethereum Classic developers have no plans to do so, citing their support of PoW as the most decentralized form of validation.
The difficulty bomb feature would have rendered mining unprofitable, and with no incentive to mine new blocks, the network would have collapsed entirely. Block 6,100,000 was viewed as the last safe block to implement a change before it was too late.
Ethereum Classic developers scheduled a hard fork to include the ECIP-1041 update on block 5,900,000 and yesterday announced the success of the fork, telling CoinDesk that most nodes had already upgraded before the fork took place. Nodes wishing to continue participating will have to upgrade to the new fork as well.
8. Two Important Developments for Tron 3 days before the MainNet
Tron keeps receiving important support and announcing listings on top exchange platforms. The company recently announced about receiving support from OKEX exchange not long before the most anticipated Tron ecosystem upgrade and token migration event.