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EOS MainNet Faces its First Glitch

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EOS
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The newly-launched EOS MainNet faced its first technical glitch on June 16th, which resulted in a complete halt of the MainNet. Luckily, the bug was resolved after several hours, and the network is now back and is functioning as expected.

EOS MainNet returns after a small break

Soon after the Block Producers elections, the MainNet of EOS, which was recently launched, started experiencing its first problems. Due to a certain bug, the entire network was forced to a stop, with the community being asked to downgrade to a previous version, after shutting down all of the nodes.

With the nodes being on standby, the block producers held a conference call during which they tried to resolve the issue. The meeting took almost an hour, during which the members decided that the nodes needed to be disabled, despite the fact that they were still backing up the important data.

Their progress was regularly updated on Telegram channel by the name of Mainnet Status, and one of the updates stated that the issue might be caused by the method of handling the deferred transactions. Luckily, one group soon found what was causing the problem, and have immediately started working on a fix, which was implemented five hours later, when the chain finally returned.

Blockchain goes through a rough start

Despite the fact that the team behind the blockchain responded quickly and efficiently, and that the problem was taken care of after only a few hours, many were disappointed by this performance. Several posts on Reddit stated that the team did not do a proper work while testing the MainNet, and that EOS is still a long way away from becoming the “Ethereum killer” that everyone was expecting.

Some users supported the team through their posts and tweets, saying that the team did manage to resolve the issue quite quickly. Many other major companies took days to fix their bugs, while EOS’ got back on track after only a couple of hours.

Regardless, this is not the best start for a crypto project of this size, since this bug led to a downtime that probably disabled thousands of transactions. Such a bad start only adds bad impression that was already there, since the launch already took almost two weeks to make sure that the blockchain is functional and stable.

Some critics even blame the decision to let the community take the reins. Still, the network is up and running again, but there are obviously issues that have yet to be discovered and fixed. This was also hinted at several days before the official launch on June 14th, when the developers prepared more than $100,000 for bug bounty claims.

Despite all of this, EOS still has a lot of supporters and believers in its community. Even though the start was not the best, there is yet hope that the blockchain’s issues will be properly handled, without further incidents.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing
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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Altcoins

Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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Bitcoin ETF
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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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