Cryptocurrency News: Beginning of April News (Verge, Centra, Nano, Coinbase, Brave, BAT, Switcheo)

Market Situation:

The market still struggling with most cryptocurrencies losing around -20% of the value this week.

Current prices:
BTC = around $6.9k (-3%)
ETH = around $381 (-5%)
XRP = around $0.48 (-7%)
NEO = around $46 (-10%)
IOTA = around $1 (-13%)
VET = around $2.50 (+4%)
EOS = around $6 (-4%)

The market seems to be stable for now but hard to predict what will happen next.

Verge Exploit Attack

On 4th of April a 51% Attack was successfully performed on Verge due to a bug in a code. A 51% attack means that somehow someone is able to control the majority of the network mining power (hashrate).

Successful attack means the person can decide which transactions get approved or not. This would allow them to prevent other transactions, and allow their own coins to be spent multiple times – a process called double spending.

In this case the attacker could mine blocks with a spoofed timestamp and to rapidly collect block rewards from thousands of blocks.

In response, some exchanges have disabled deposits and some mining pools have disabled Verge support. The team is working on the hardfork and new wallet.

Centra SEC Trouble

On 4th of April it was annouced that Centra is being investigated by SEC. The two co-founders were charged with running a fraudulent initial coin offering (ICO). Both of them were arrested and could potentially face prison time.

Since the arrest Centra has not published any upates about the project so it is currently unclear what is the future of the project. It got delisted from main exchanges and there is a high possibility of the project being completely abandoned.

Centra was going to introduce crypto debit cards similar to TenX, Monaco or Change. The CTR token had different usages connected with the cards and it lost a lot of value due to the news (from 32c to 5c)

Nano Twitter Tip Bot

Steven Mitchell developed a Nano Twitter bot which allows users to tip others in NANO cryptocurrency.

The whole process is very simple, lasts few seconds and is done entirely on Twitter.

Once the tip is done the bot generates wallet for the reciever and ties it to their twitter account. Tip reciever can send it to others using the bot or set up their own private wallet and withdraw it.

This is actually a significant development that could increase the Nano adoption.

Coinbase SEC Regulated Brokerage?

Coinbase has approached U.S. regulators about registering as a licensed brokerage firm and electronic-trading venue.

By registering as a broker-dealer would allow the company to move into markets the SEC regulates. But they would only be allowed to offer tokens that comply with securities laws.

If the license is obtained it would be a very good news for cryptocurrency in general. While some people say that regulation is not good for crypto some compliance should be beneficial for adoption.

The other companies doing the same are Poloniex, Overstock, Qash and Templum

Brave will get Chrome extensions
Brave is a Chromium-based web browser that was created by Mozilla’s co-founder in order to improve speed, performance and privacy.

Brave includes an application of BAT: Basic Attention Token which is trying to pay publishers for their content and users for their attention, while providing advertisers with more in return for their ads.

The new release will transition to being based on Chromium – making it compatible with all of Google Chrome’s extensions and features.

It is a significant step because with Chrome extensions many people that were reluctant with the switch might actually do so.

Switcheo Exchange launch

On March 31st the NEP-5 Token Exchange Switcheo launched MainNet on NEO blockchain

Switcheo Network aims to build a decentralized exchange (DEX), that will allow secure trading of NEP-5 tokens as soon as their token sales end.

It’s basically like EtherDelta (called ForkDelta now) or IDEX but instead of ERC-20 Ethereum tokens is for NEO based tokens. Initial tokens include NEO, GAS, Switcheo Token (SWH), Red Pulse (RPX), TheKey (TKY), Bridge Protocol (IAM), Trinity (TNC) and DeepBrainChain (DBC).

This is a first decentalised exchange for NEO tokens.

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Cryptocurrency News: Beginning of April News (Verge, Centra, Nano, Coinbase, Brave, BAT, Switcheo)

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Kane Dane