Author: Mark Hartley

The EOS mainnet launch is fast approaching and to help make the transition as comfortable as possible, imtoken, the Android and iOS wallet for ETH and ERC20 tokens, have announced support for the migration.

Many EOS investors use imToken as their wallet due to the original EOS platform being based on the ERC-20 standard.

EOS will migrate to their own blockchain on June 2nd, 2018.

imToken have supported EOS from the start and were one of the first wallets to feature one-touch EOS wallet mapping.

EOS wallets differ from Bitcoin and Ethereum in that they support human-readable account names and recovery of stolen keys, amongst other functions.  EOS accounts feature two native named permissions – ‘owner authority’ and ‘active authority’, the latter being the owner of the account and former the authority used for transferring funds.

Additionally, the wallets feature both single and dual private key modes, with dual private key offering additional security.

Other than these additions, the EOS wallet will be similar to that of Ethereum wallet. Users should conduct EOS wallet mapping using imToken Candy Bar DApp before the launch of the EOS platform.

Voting for Block Producers will also take place.

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Justin Sun, CEO of the TRON Foundation, yesterday tweeted his excitement at TRON support by Upbit:

#TRX $TRX #Upbit will support #TRON blockchain upgrade and token migration.https://t.co/KHq7vDWwve

— Justin Sun (@justinsuntron) May 22, 2018

Upbit, South Korea’s biggest exchange, trades over 200 altcoins and was launched less than a year ago with the help of Bittrex. The exchange was marred recently by an FSC investigation that claimed it faked its balance sheets, but the company has denied the claims.

South Korea’s second-biggest exchange Bithumb will also be supporting Justin Sun’s TRON project during their migration from Ethereum.

According to data from Bloomberg, the US dollar is the only fiat currency in the crypto-market this is traded more than the South Korean ‘won’.

The news comes on the heels of TRON’s announcement of their ‘Virtual Machine’ that will start operating in a few days and assist the migration process to their own mainnet at the end of May.

TRX is trading up 11% since their announcement of the mainnet launch and is one of the only cryptocurrencies in the top 10 to see significant price increases this week.

Other exchanges that have pledged their support to TRON during the migration include Bittrex, Bitfinix, Gate.io, Binance, Coinrail and Zebpay, who have recently adopted VeChain.

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After last weeks delays due to popular demand, Binance have finally initiated trading in TrueUSD, the stablecoin competition to Tether (USDT).

Just after the launch, the stablecoin’s price spiked slightly to $1.10, but quickly corrected again back to $1.00.  Previous spikes caused by bots have pushed it as high as $1.30.

In the 24 hours since being listed it has seen increases of up to 18 million tokens and a volume growth of $12 million.

Unlike USDT, TrueUSD will not inject liquidity into altcoins but rather serve to hedge against volatility. Its purpose is to store value for BTC in the event of falling prices during market downturns.

Tokens for TrueUSD are only created when cash purchases are made through the app and the supply is said to not exceed the dollar amount available in the third-party fiduciary’s escrow account.

With the halt in minting of Tether (USDT) coins and their stabilization of crypto trading at 15%, TrueUSD could be a necessary platform for new buyers to get into the market.

TrueUSD’s total market cap recently crossed the $20 million threshold.

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Verge reported late last night of another DDOS attack in progress. They were hit by a similar attack earlier this month.

VergeArmy responded on twitter: “doing some research maybe we should ask all the mining pools to impliment Response Rate Limiting(RRL) walls in their code”

Miners commented on reddit of the complexity dropping to zero, suggesting an attack on the mining pools.

Some redditors claim that the security flaw was exploited in the previous attack may not have been properly repaired, and so the new attack is using the same method, only with two algorithms this time.

Reddit user ‘ocminer’ commented:

Since nothing really was done about the previous attacks (only a band-aid), the attackers now simply use two algos to fork the chain for their own use and are gaining millions”

The last message from the Verge twitter account @vergecurrency was at 8:17PM last night:

it appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.”

Whether or not the attack is still underway is uncertain.

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Blockchain developers Nchain have announced a majority stake acquisition of Handcash, the Bitcoin Cash application that supports near field communication (NFC) payments from mobile devices.

The Handcash app was launched in February this year as a means for BCH holders to pay with a mobile wallet. It allows ‘hand to hand’ payments between devices without the need for giving out a wallet address or QR code, hence the name.

Commenting on the creation of the app, co-developer Alejandro Agut explains how they wanted to further the concept of Bitcoin Cash being a means of physically paying someone, like real cash.

The development team used the Nchain SDK ‘Nakasendo‘ to build the app. It is believed that the collaboration will further improve Handcash’s functionality, with technologies like ‘Magic Protocol’ being integrated to connect with third-party services.

Nchain CEO Jimmy Nguyen commented on how they were thrilled to support Handcash and praised its ability to simplify the BCH payment process. He believes for the cryptocurrency to grow, interfaces need to become more accessible and easier to use. He hopes to see the collaboration promote a wider global adoption of BCH.

Handcash is still in a beta testing phase before being put on the Bitcoin cash mainnet. It is available to download here on Android.

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Justin Sun and the TRON Foundation recently tweeted about the growing success of TRX and the upcoming #TRONmainnet move.

With mainnet approaching and the announcement of the Ethereum-compatible TronVM Virtual Machine to be launched on May 25th, TRX has seen steady increases and today placed in 9th position globally with a cap of $5.59 billion – trading at $0.083.  That’s a gain of over 18% in the past 24 hours and 60% over the past month.  Bitcoin, by comparison, is down 5%.

The official Mainnet launch is set for May 31st when Tron will separate from its current ERC-20 standard on Ethereum to its own blockchain.  The TronVM will facilitate the move to enable compatibility and ensure dApps built on Ethereum will seamlessly switch over.

TRX coin holders have until 25 June to deposit any remaining coins they have to mainnet supporting exchanges until the migration is complete.

Tron’s TPS (transactions per second) system is already better than that of Bitcoin and Ethereum, and they hope the move will accomplish even greater improvements. The TRX migration project has a large list of supporters including Binance, Bitfinex, Bittrex, Coinrail and Zebpay, to name a few.

Justin Sun believes that with the migration TRX has a good chance of becoming the world’s 6th largest cryptocurrency. 

Backed by a young, professional, adaptable team, $TRX is officially in #crypto top 10, aiming for top 6. Stay tuned for 5/25 TronVM 2.0, 5/31 Mainnet, 6/26 SR Election, and more. 2018 is just the beginning. Watch us take the world by storm. #TRON https://t.co/1X0PNGKnEH pic.twitter.com/D1wqeMlmqy

— Justin Sun (@justinsuntron) May 9, 2018

Last month Tron announced the launch of their new development project, Genesis (Tron PG).  The project enables the building and storage of applications and the execution of smart contracts on the blockchain.

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Tether is back and minting with more power than ever since their controversial pre-audit split from Friedman LLP last year. At the time, the Bitcoin price correlation that was pointed out by critics brought on the threat of legal action. However, nothing came of the threats and still no defining audit has been made.

The lack of transparency as to where the apparent 1:1 US dollar backing comes from has done little to slow Tether’s USDT coin rise. Tether also claims Euro backing for their 86 million EURT coins.

Long-term outspoken critic ‘Bitfinex’ed‘ was back to highlight the fresh correlation between price increases in Bitcoin and Ethereum and the issuance of new Tether coins. In early March he pointed out similar comparisons.

Within an hour of the new Tether tokens being issued, both BTC and ETH saw significant gains.

Tether has recently seen some competition to its stablecoin monopoly in the form of Circle, TrueUSD and Basis.

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