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Band Protocol’s CTO: I Am Not Nomi Chef (Sushiswap Lead Developer)

Band Protocol issued a statement denying the surfaced allegations that its CTO and Co-Founder is the lead developer of the SushiSwap protocol.

The post Band Protocol’s CTO: I Am Not Nomi Chef (Sushiswap Lead Developer) appeared first on CryptoPotato.

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The cross-chain data oracle platform Band Protocol has published a statement refuting the claims that its Co-Founder and CTO Sorawit Suriyakarn is the creator of the SushiSwap protocol, despite arguments broached by the community.

The Community Claims Suriyakarn Is Chef Nomi

In the past few days, the lead developer of the popular SushiSwap protocol, standing behind the Twitter handle Chef Nomi, attracted lots of attention toward himself. He sold off all of his Sushi tokens to “stop caring about the price” and focus solely on coding.

The controversial move had immediate consequences to SUSHI’s price as it plummeted by 70% at one point. However, after prolonged Twitter discussions, Chef Nomi reacted by transferring control over the protocol to the FTX CEO – Sam Bankman-Fried.

Nevertheless, the attention he gained caused numerous speculations, including who’s actually the person behind the Twitter handle. One of the most discussed theories within the community is that Chef Nomi is the Chief Technology Officer of Band Protocol – Sorawit Suriyakarn.

The evidence brought up was somewhat precarious, to say the least. A community member revealed that Band Protocol and SushiSwap shared the same hosting service. Additionally, Chef Nomi and Suriyakarn apparently have a similar taste for games, as they both liked Hearthstone.

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Suriyakarn And Band Protocol Respond

Band Protocol’s CTO was quick to repudiate the claims. In a series of tweets, he called the speculations “shocking and amusing,” and that he physically doesn’t have the time to develop another project, while working full-time for Band Protocol.

Shortly after, Band Protocol issued an official statement as well. It explained that Suriyakarn “often reviews the code for other projects, as it is a commonplace within the industry. He did a review of the initial code deployment of SushiSwap to make sure it was safe for public use.”

However, the post emphatically said that “we were not involved in the operation of SushiSwap in any capacity.”

As far as the evidence mentioned above goes, Band Protocol noted that over 100 million players worldwide play Heartstone. The common interest shared by Chef Nomi and Suriyakarn “doesn’t mean that Sorawit is Chef Nomi.”

The Chainlink rival also explained that the hosting service employed by the two protocols is “well-known and award-winning,” and has been used by numerous tech companies. However, Band Protocol has decided to change the hosting service to “avoid any further confusion.”

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Source: https://cryptopotato.com/band-protocols-cto-i-am-not-nomi-chef-sushiswap-lead-developer/

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Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell

Market Analysts Bitcoin Holders

Rate this post The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market. Bitcoin Holders Stacking Up, Tells Market Analysts Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market. At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17. In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017. Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips. Weak Hands and Noobs Panic Selling  In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks. Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions.  Along with this, Glassnode stated: “A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

The post Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Rate this post

The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market.

Bitcoin Holders Stacking Up, Tells Market Analysts

Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market.

At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17.

In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017.

Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips.

Weak Hands and Noobs Panic Selling 

In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks.

Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions. 

Along with this, Glassnode stated:

“A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

READ  Price of XRP Increases By 17% Bringing Stellar To A New Peak

#Bitcoin #Bitcoin Holders #Market Analysts

Source: https://www.cryptoknowmics.com/news/market-analysts-suggests-bitcoin-holders-are-adding-on-dips-noobs-panic-sell/

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StormGain: Crypto Mining now available on all smartphones

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For many years, cryptocurrency mining has only been reserved to a select few – those people with enough time and capital willing to invest resources into setting up their own mining rigs. However, cloud mining has been quickly gaining speed, and StormGain’s solution removes the technical barriers from the equation in hopes of creating a more even playing field. 

Since miners need to keep several factors in mind, including electricity costs, upkeep and maintenance, and the overall investment return, mining has become less lucrative for the smaller players. StormGain wants to change this narrative, and give everyone the chance to participate in the verification of cryptocurrency transactions, earning a nice income whilst doing so. 

Cloud mining is a prevalent trend in the cryptocurrency industry today. However, many providers claim to offer significant yields and fail to deliver on those promises. StormGain is a different breed, as it provides a mobile-based cloud mining solution. Every user can mine cryptocurrency directly from their mobile phone without dealing with the hardware side of things. Mobile app users connect directly to remote cloud servers, allowing StormGain to provide a risk-free and convenient mining solution, incomparable to those offered by other cloud mining service providers. 

The first step is to register at the StormGain platform using a smartphone – or desktop computer for those who prefer that option. StormGain purposely opts for a pain-free registration process to get as many people acquainted with cloud mining as possible. The registration process also involves a lucrative bonus of $5 USDT, delivered directly to users’ mining accounts. The process is simple – upon registering, use the promo code MINER to receive the bonus. After confirming the account, users can begin mining Bitcoin right away by connecting to the cloud mining server, with no impact whatsoever on the smartphone’s performance. 

After meeting the minimal $10 USDT profit threshold, users are free to trade and exchange their crypto assets with StormGain. Withdrawal of mined currency is not possible without going through the trading process first, but all profit generated via trading can be transferred out of one’s account at any given time – a fair trade-off.

The trading and exchanging via StormGain is available at 0% commission, with users benefiting from all standard and advanced instruments at their disposal. The service also introduces fiat-based cryptocurrency purchasing for those who want to expand their crypto portfolio quickly and effortlessly. 

StromGain has contracted incredible partnerships since its inception, making it the 1# interest rate provider for crypto traders by CoinMarketCap, a member of the well-known Blockchain Association within the Financial Commission, but also an S.S. Lazio official trading partner, and the market’s best cryptocurrency trading & exchange platform, according to The European. To date, StormGain’s trading product notes a 30-day volume of over $6 billion, generated by tens of thousands of traders worldwide. 

What sets StormGain apart from other cloud mining providers is how mining rewards are proportional to trading volume. Users with a higher trading volume will earn a higher daily mining income. Mining with StormGain over more extended periods can have a significant impact on one’s profit potential, showcasing huge capital inflows for the most active miners and traders.  

Cloud mining rewards are distributed every 30-40 minutes. Then, users are free to withdraw the funds to their trading accounts, within less than 72 hours. For newcomers, the first mined Bitcoin rewards will become accessible within 4 hours, a feat that is available nowhere else within the cloud mining industry. 

About StormGain

As part of its services, StormGain’s cloud mining service effectively removes all entry barriers to the mining market. Consequently, there’s no longer a need to invest in expensive mining chips that take up space, make noise, and consume electricity. Contract prices are inherently small so ongoing investments can translate to significant profits over the long term. Since the bitcoin mining service is readily available via the cloud, accessing it via desktop and mobile devices couldn’t be easier, with no hardware and time investments involved. 

Disclaimer: This is a paid post and should not be treated as news/advice.


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Source: https://ambcrypto.com/stormgain-crypto-mining-now-available-on-all-smartphones

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Bitcoin’s Market Share Falls Below 40%

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Bitcoin’s market share has fallen below 40% for the first time in three years as altcoin sezun gives rise to many cryptos.

In particular ethereum has risen to its highest crypto market share since the last peak in February 2018, accounting for more than 19%.

That’s almost as much as all other cryptos combined at 21%, which themselves have seen considerable appreciation with the top 20 ranking transformed:

Top 20 cryptos, May 2021
Top 20 cryptos, May 2021

Bitcoin’s market cap has fallen now to $800 billion, while ethereum is almost half of it at $400 billion.

Then we have Binance Coin which is like their token share, worth $80 billion in part because Binance buys it back based on quarterly profits.

Cardano is the only one to survive in rankings from the 2017 ICO whitepaper wave with it on fourth position based on promises of smart contracts ‘soon,’ albeit about five years too late as eth invented smart contracts in 2015.

Doge is perhaps the wildcard crypto as no one thought it would rise to top five, yet maybe it should have been predictable, except no one could guess Elon Musk would shill it even on SNL.

Tether is at the top still with a market cap of $60 billion. Some say the bull will end when tether goes to the second page of rankings, but we’re not sure how much that will be true.

XRP survives. Still no all time high as it fights SEC in court, but it’s clinging on despite being delisted from many exchanges.

Polkadot has risen to a market cap of $37 billion with this trying to solve scalability by getting shards to go through a central coordinator which happens to be a bottleneck.

Finally a new coin, the Internet Computer. Ohh, it’s Dfinity! Finally this has launched. Just now actually on May 10th. We haven’t quite looked at it yet, but back in 2019 Joseph Lubin of ConsenSys said:

“Dfinity has a very strong team. Because dfinity is a currently closed system controlled by a small number of investors and token holders – though they’ve indicated they will open source their project at some point – it is hard to tell, but it appears to me they are less interested in being a global base trust and settlement layer and more like a somewhat decentralized AWS replacement.

They’re likely to do a very good job of this whenever it gets released.

Ultimately, it doesn’t seem viable for Dfinity to be a base trust layer for the planet as there is one fundamental design choice that they and Cosmos made that will prohibit this.

Both Dfinity and Cosmos favor safety or consistency over availability and liveness. This means that if 34% of the nodes on their networks find themselves on the wrong side of some great firewall that blocks traffic for a period, their entire global network will halt, freezing every system built on it.

And there are other known related failure modes. This is a non starter for many different classes of application.”

As it happens, eth 2 has this 34% as well, which is why plenty think the ethereum PoW chain will keep running even if the eth 2 PoS chain becomes dominant.

Bitcoin Cash is down to 10th now with Litecoin keeping on since 2011. Uniswap keeps up and up, with quite interestingly even USDC making top 20 with a market cap of $14 billion (wow).

Solana, this launched in March 2020 and never got our attention but seems a bit interesting on the surface because they claim they use a Proof of History in the blocks themselves or in the transactions.

At the most basic and utterly simplistic to the point of perhaps misleading, it sounds like each transaction has a private key of sorts (a hash) to prove that it was made before its inclusion.

The full details are worthy of study for those interested because, unless our surface view is mistaken, this is an experiment in scientific blockchain pruning.

We all know about the blockchain data ever increasing and that means no scaling. If you can remove old data from storage however, while still being able to prove the history of such old data so that you can trustlessly synch on the network and obviously so that you can prove coins are not just being printed, then there are effectively no scalability constrains.

So if Solana proves itself, their method or some adaptation of it may be incorporated into bitcoin where devs there have been tinkering with crypto hash based pruning, something that would make bitcoin globally scalable.

Polygon (Matic) is a second layer on eth so how this is so valuable is not clear, but the token is probably used in a Proof of Stake environment and so speculators are maybe betting this will find much usage in eth.

VeChain is ancient by crypto standards of the second blockchain generation wave with it focusing more on supply chain use of the blockchain and presumably doing something right since it keeps surviving.

Theta is a new one in rankings, although this launched in January 2018, and is “a blockchain powered network purpose-built for video streaming.”

Showing thus the crypto space is transforming, as was predicted during bear years, with two new entrants as well as an eth token ranking.

Interestingly both new entrants are scaling focused, so maybe at some point we’ll hopefully get out of the 80s dial-up and into 90s broadband when cryptos can go mainstream in usage.

As well as technical challenges to get there, there are also political challenges but somewhat slowly it looks like this space is generally moving in the right direction with innovation still clearly very much booming.

Source: https://www.trustnodes.com/2021/05/18/bitcoins-market-share-falls-below-40

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