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Here Is Why the Chinese Government Ranks EOS (EOS) Higher Than Ethereum

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Despite the Chinese Government’s total ban on all crypto related activities within its jurisdictions, it has now issued a second ranking of blockchain platforms through the China Electronic Information Industry Development (CCID). The new rankings show that EOS (EOS) has outclassed Ethereum (ETH) in terms of being the best blockchain platform available around the globe.

CCID Rankings. Source, medium.com/@coinness

As earlier mentioned, this is the second time the organization has issued these rankings. The first time, Ethereum (ETH) topped the list as the best blockchain platform according to the three criteria of technology, application, and innovation. EOS tops the list this time around, in the categories of technology and innovation. NEO managed to rank higher than any other platforms in terms of applicability of the blockchain. Bitcoin managed to lead in the category of innovation.

This new ranking is not without controversy for the EOS platform has witnessed several incidences since the platform went live earlier this month. The first one was the discovery of a serious security bug a few days before the MainNet went live. The second hurdle for EOS came when there was a delay in attaining the 15% quota for staking tokens to allow for voting on the platform. Once that was accomplished, another bug brought the platform to a screeching halt with transactions being frozen globally on the platform.

Due to the fact that the EOS constitution had not been ratified by the time the platform paused, the Block Producers froze 7 vulnerable accounts that could have resulted in the loss of funds on the platform. A total of 27 accounts have since been frozen.

With the EOS constitution yet to be ratified, the decision to freeze the said accounts has caused a lot of outcry as well as admiration for the swift response by the newly appointed EOS Core Arbitration Forum (ECAF) that was set up to resolve disputes in the community. ECAF is the entity that ordered the Block Producers to freeze the 27 accounts. Either side of the argument can at least have a reason to be bullish about EOS with the new rankings by the CCID showing that the platform has a bright future ahead.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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