Binance, Coinbase & Ethereum - Cryptoland News (09/25/2019)

By Cryptolohy | cryptolohy101 | 25 Sep 2019

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Binance Starts Eating The Cake Of Coinbase

What?

Binance, the largest exchange by traded volume, has launched a subsidiary in the USA. Binance US.

How?

It has opened trade to residents of 37 states within the US, with an offer of 7 cryptocurrencies

Bitcoin
Binance Coin
Ethereum
XRP
Bitcoin Cash
Litecoin
Tether

What's the result so far?

Binance will start to compete more directly with Coinbase.

Stealing Never Ends Well

What?

Two people probably behind the hack to the exchange EtherDelta had been formally indicted.

How?

According to Decrypt:

"In December 2017, the hackers “sim-jacked” an EtherDelta employee, believed to be CEO Zachary Coburn, by stealing his phone number to get into his emails and then accessing EtherDelta’s DNS account. The hackers redirected any users heading to the site to a fake clone they had made of EtherDelta. Here, unsuspecting users entered details of their cryptocurrency wallets, which the hackers then used to drain their funds.

The $800,000 mentioned in the court documents is just the theft from one user’s account; the total figure could be much higher."

What's the result so far?

Most probably (assuming they catch the correct people) a little bit of justice and restitution to the victims had been achieved, with one of the hackers forced to return over half a million dollars.

Ethereum & Data Congestion, Chapter #309

What?

The miners on the ethereum network agreed to raise the gas limit, increasing the capacity to approximately 25% more transactions.

How?

Largely as a result of the move of stable coin tether to the ethereum network, as well as other popular applications, the community of ethereum miners agreed to increase the capacity of the network.

What's the result so far?

At the moment, the ethereum network is capable of handling the traffic that is thrown at it, however, the trend over congestion on the network hasn't stopped, so it remains to be seen what long-term solutions will be applied in the future.

Sources:

decrypt.co/9491/binances-us-exchange-goes-live-with-seven-cryptocurrencies

decrypt.co/9501/us-attorneys-office-indicts-two-suspects-in-etherdelta-hack

decrypt.co/9573/ethereum-expands-blockchain-capacity-by-25-percent

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