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Binance, the world’s largest cryptocurrency exchange, suspended trading as a temporary measure on Wednesday after spotting ‘irregular’ transactions of SYS tokens on its platform. The exchange said it had temporarily suspended trading and withdrawals for “system maintenance” following the unusual trading patterns of Syscoin (SYS) on its platform. Binance has since resumed trading activities and it

The post Binance Suspends Trading Temporarily Due to ‘Irregular’ SYS Transactions appeared first on CCN

Read more –> click here all content is copyright CryptoCoinsNews.

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Crypto markets are more or less stable today, July 4, with Bitcoin holding above the $6,500 price point

Read more –> click here all content is copyright CoinTelegraph.

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The European Banking Authority published a report to raise public awareness of the benefits and risks associated with the use of DLT in finance.

Read more –> click here all content is copyright Coin Desk.

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Independent Reserve, Australia’s first regulated cryptocurrency exchange, will add support for Ripple’s token currency XRP this week. Sydney-based cryptocurrency exchange Independent Reserve is reportedly enabling support for Ripple (XRP), the world’s third-largest cryptocurrency by market cap after Bitcoin and Ethereum. With launch of trading on July 7, the exchange is offering trading to both retail

The post Regulated Australian Cryptocurrency Exchange to Launch Ripple (XRP) Trading appeared first on CCN

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Blockchain “could” save the UK government billions of pounds and reshape social structure, a new report claims

Read more –> click here all content is copyright CoinTelegraph.

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When demand for Ethereum rises, so do the gas prices — but what is causing them to rise in the middle of a bear market? A new exchange may be to blame. 

Traffic Jam

Congestion in the Ethereum network has skyrocketed during the past few days, causing a dramatic hike in gas prices. The present average gas price is competing with the highs of January — even though transaction volume is down over 50 percent.

According to a fiery Twitter thread posted by Ethereum interface company MyCrypto, the bottleneck is the result of a disgraceful voting system introduced by new Chinese exchange FCoin.

3/ Basically, they want their users to “vote” for tokens to be listed. Instead of a traditional voting mechanism (like, I dunno, a fucking poll on their fucking exchange?!) they have decided to vote via “cumulative deposit number ranking”

— MyCrypto.com (@MyCrypto) July 3, 2018

In order to vote for a new coin to be added to the exchange, users must deposit tokens to FCoin — spending at least 85 gwei per gas to ensure that their transactions processes. The coin with the highest number of cumulative deposits at the end of the voting period will be listed on the exchange. Commented MyCrypto:

Unsurprisingly, people who are financially incentivized to get a shit-token listed on a shit-exchange are sending these tokens en masse to separate accounts on the blockchain and then to separate accounts on the ‘exchange-who-must-not-be-named’ […] and thus resulting partially (or entirely?) in the network congestion & high transaction fees that we’ve experienced these past few days.

The act of creating large numbers of pseudonymous identities to gain a disproportionately massive influence on a network is known as a Sybil attack, and it is exactly what is being encouraged by this voting system.

The level of stress on the network is comparable to that caused by CryptoKitties back in December, though without any of the cute allure. Ethereum users and node operators alike are furious with the current state of the network.

I swear I need to hire a full time guy just to manage my Ethereum nodes.

Shit is so unstable and annoying to debug nonstop.

Is there any more high maintenance bitch coin in the crypto markets? FML pls fix @VitalikButerin

— Austerity Sucks (@Austerity_Sucks) July 4, 2018

Thankfully, Ethereum’s co-founder Vitalik Buterin proposed a new scalability solution on July 2. If the plan is well-reviewed, it will likely be implemented as a change to the mainnet. Until these plans are in place, however, Sybil attacks such as the one created by FCoin can continue to overload the ecosystem.

What do you think of the voting system that FCoin has implemented? Was it a deliberate attempt at slowing the network, or just a short-sighted marketing scheme? Let us know your thoughts in the comments below! 

Image courtesy of Shutterstock, Twitter/@MyCrypto, @Austerity_Sucks.

The post Is a New Exchange to Blame for Ethereum’s Network Congestion? appeared first on Bitcoinist.com.

Read more –> click here all content is copyright Bitcoinist.

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Bitcoin Press Release: A thriving cryptocurrency has built an engaging Crypto self-service solution as part of its latest innovation. The BitcoinZ developers created the KioskZ and officially announced its launch, giving restauranteurs the power to reduce fees, accept crypto-to-card payments (fiat), and entered the table-top service industry for free.

4 July 2018 United Kingdom. The idea of a free table-top hardware is not a feasible startup model anywhere, except the BitcoinZ crypto-currency community. The BitcoinZ community has managed to build useful technologies and services while remaining completely Decentralized without any hierarchical organisational structures. The community is built purely on Bitcoin principles with the addition of privacy of zkSnarks, Hence the Z after Bitcoin creating BitcoinZ.

The BitcoinZ Community

The community behind BitcoinZ has already embraced the latest capability and offering. So far, the community has created several engagements that aim to raise awareness of the cryptocurrency, including launching a new algorithm Zhash, a lite Linux OS – ZhashOS, and several video marketing materials with new exchange listings. All members have an equal say in the direction BitcoinZ takes, whether they’re a new member or have been involved from the beginning, the latest function will help steer the cryptocurrency to further success.

Rizzman1000, the lead developer on KioskZ of BitcoinZ, said:

“The KioskZ is targeted towards restaurants that do not want to shell out $1000 for a Ziosk at every table.” A fair decentralized global community, all about creating a cryptocurrency that is a gift to the world, requires robust, unhinged thinking alongside technological innovation.”

The Vision

This idea is what drove the development of KioskZ and introducing cryptographic technology to the Hospitality Industry. Currently, KioskZ will support 4 coins at launch, BitcoinZ, SafeCoin, Bitcoin, and LiteCoin. The ability to support additional coins will be provided for a fee to the various crypto-communities.

It was clearly noted that additional coins can be listed on the KioskZ for a fee of 2.5 Million BTCz for the first 30 days, as an initial offer set to increase thereafter. “All Funds received for coin listing on the KioskZ, will be put towards deployment for further KioskZ developments and expansion into a wider market.”

The BitcoinZ community through an unspoken strategic partnership with SafeCoin & Safe.trade is able to provide an exchange functionality for all transactions that run through the KioskZ, meaning Hospitality business services have a secure entry and exit point into cryptocurrency market.

The current market penetration incentive is a cost saving free KioskZ and the greatest opportunity to optimize time-saving with cutting-edge technology. BitcoinZ has built a thriving community and we continue to monitor its updates and developments with this new hardware solution.

Visit the website: https://btcz.rocks/
Community Paper: https://drive.google.com/file/d/19eJ09gwba5Ix9k3Y8Kk7NqdTbnUTFXDj/edit
Latest news: https://info.btcz.rocks/
Chat on Telegram: https://t.me/joinchat/CDzlaRGMvBm4P2Z76sNclQ
Reddit: https://www.reddit.com/r/BTCZCommunity/#
Facebook: https://www.facebook.com/BTCZCommunity/
Twitter: https://twitter.com/BitcoinZTeam

BitcoinZ is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose.

The post Latest BitcoinZ Update is a KioskZ System Self-Service Solution appeared first on Bitcoin PR Buzz.

This press release was provided by Bitcoin PR Buzz’s Bitcoin Press Release service. Original Bitcoin press release source on Bitcoin PR Buzz click here.

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Greece signed a historical debt deal. Does it still need crypto?

Read more –> click here all content is copyright CoinTelegraph.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE.

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Greece signed a historical debt deal. Does it still need crypto?

Read more –> click here all content is copyright CoinTelegraph.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE.

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