Vitalik Buterin, who is the creator of Etherium had stated earlier about executing a currency cap into Ethereum network that blocks the circulations of reward to participants.
Furthermore, Vitalik Buterin proposed about 120million Ethereum on its network and he has also stated on GitHub, about removing the inflation in Ethereum by topping the maximum amount of ETH at 120,204,432- which is twice the amount of Ethereum traded at the real price.
However, Buterin wrote this on GitHub,
“To ensure the economic sustenance of Ethereum network under the widest possible variety of circumstances, and in light of the fact that issuing new coins to proof of work miners is no longer an effective way of promoting an egalitarian coin distribution or any other significant policy goal, I propose that we agree on a hard cap for the total quality of Ethereum.”
It is important to know that Buterin’s statements were issued on 1st of April. As a result, lots of viewers doubted whether it was true or a joke (although some viewers spoke on the advantages), due to the time the statements were published – the April fool’s day!
Interestingly, Buterin had later shown on Monday through his tweets that his statements were jokes – some sorts of ‘meta-joke’ so as to allow people not to debate on the details of the proposal and to see whether or not it was real.
Buterin had also argued that it doesn’t matter whether the joke was made or not as the statements made by him should be ascertained on their facts. “If the community wants fixed supply and people believe that EIP 960 is a good way to achieve that, then it should adopt the proposal. If the community does not, then it should not. This is true regardless of whether or not the original intent was in jest.” Buterin stated further.
The Ethereum creator also made it known that a stable supply of ETH is “something to consider,” due to the fact that the change of Ethereum to a Proof-of-Stake agreement will discard the need for mining and also permit the platform to distribute payments without creating new crypto-coins. “Cryptocurrency can avoid being too inegalitarian through the emergence of new coins, not through any single coin being super-inflationary,” Buterin also said.
Vitalik Buterin Trolls Tron for Piracy
That all said, it is also necessary to know that the joke made by the Ethereum creator on April fool’s day was not only the trick that was made on that day.
Stating on the blog which is owned by Ethereum Foundation, Buterin projected an approved ETH stablecoin also known as “The World Trade Francs” – The World Trade Francs is a stablecoin for the future of cryptocurrency industry and technology.
Although, the prank made by Buterin was a noticeable one than the joke on Github. The latter prank had an elusive jag that most people couldn’t take note of. Buterin publicized that about 20% of the posts were plagiarized from the Tron site. Which implies that the whitepaper by Tron was copied from other projects.
We will be updating our subscribers as soon as we know more. For the latest on ETH, sign up below!
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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of TechCrunch via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…