- Maxwell, Wuille Co-Author Proposal for a Big Boost to Bitcoin’s Bandwidth ;
- EOS Holders Vote to Reduce the Annual Inflation From 5% to 1% ;
- Why Bitcoin’s ‘Culture War’ Matters ;
- OKEx Sister Firm OKLink to Launch USD-Pegged Stablecoin USDK ;
- Binance DEX Will Geoblock Users From 29 Countries, Including the US ;
- 📑 Daily Crypto Calendar, June, 3rd💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 Maxwell, Wuille Co-Author Proposal for a Big Boost to Bitcoin’s Bandwidth
A newly-proposed relay protocol could reduce the “transaction bandwidth” used up by bitcoin nodes by up to 75%.
cointelCalled Erlay, the proposed protocol alters the way transactions are relayed so that they use significantly less bandwidth, an important resource for the nodes that make up the network. The authors include The University of British Columbia researcher Gleb Naumenko as well as two bitcoin development heavy-weights: Greg Maxwell and Pieter Wuille.
The way bitcoin works is that nodes across the world tie together to form a network. Under the hood, once a transaction is broadcast, it ripples through this vast network of hardware.
🗞 EOS Holders Vote to Reduce the Annual Inflation From 5% to 1%
EOS holders voted to reduce the annual inflation rate from 5% to 1% as of June 1, according to data on the voting platform maintained by EOS Block Producer (BP) EOS Authority.
According to the poll’s description, out of the current 5% of annual EOS inflation, 4% is being accumulated in the eosio.saving account while 1% is distributed among BPs in exchange for network maintenance. About 3.6 million EOS are reportedly created and sent to this on-chain account every month, and this number increases due to compound inflation mechanisms.
The original purpose of accumulating funds on the aforementioned account was allegedly to have the community vote on how to spend it or even burn it. Still, the proposal claims:
“However, 8 months have past and there is still no defined use for this large quantity of EOS tokens that continues to flow into the eosio.saving account. This large quantity of accumulated tokens has now become excessive and if we continue to allow it to keep growing, it will eventually become an attack vector for the network.”
🗞 Why Bitcoin’s ‘Culture War’ Matters
Let’s talk about bitcoin, toxicity and inclusiveness.
(Boy, my Twitter feed is going to have fun over the next few days.)
To start with, let me take a position: I stand with those people, especially women, who’ve lately been calling out maltreatment from members of the bitcoin community and citing rude and abusive behavior as proof of that community’s lack of inclusiveness. These are people who believe in cryptocurrency technology’s potential but feel discouraged to believe that they belong to the community’s dominant white-male subculture. If this technology is to fulfill its global potential, the community associated with it must confront this problem.
But the real point of this column is not to just defend these critics. It’s to debunk one of the more common positions adopted by those who take issue with their complaints, particularly on Twitter. In doing so, I hope to emphasize just how important the concepts of “community” and “culture” are to the healthy development of crypto technology and the ecosystem growing around it.
🗞 OKEx Sister Firm OKLink to Launch USD-Pegged Stablecoin USDK
Global settlement firm OKLink, a sister company of major cryptocurrency exchange OKEx, will launch its stablecoin today, June 3, an OKEx representative told Cointelegraph.
In an email sent to Cointelegraph, the OKEx rep specified that the stablecoin — dubbed USDK — will be launched today in partnership with United States-based custodian Prime Trust.
On June 2, OKLink posted scans of the agreement between OKLink and Prime Trust on Twitter.
At the end of last month, Star Xu — founder of exchange services provider OKCoin and OKEx — announced OK Group’s partnership with the trust company and plans to launch a stablecoin.
🗞 Binance DEX Will Geoblock Users From 29 Countries, Including the US
Global settlement firm OKLink, a sister company of major cryptocurrency exchange OKEx, will launch its stablecoin today, June 3, an OKEx representative told Cointelegraph.
In an email sent to Cointelegraph, the OKEx rep specified that the stablecoin — dubbed USDK — will be launched today in partnership with United States-based custodian Prime Trust.
On June 2, OKLink posted scans of the agreement between OKLink and Prime Trust on Twitter.
At the end of last month, Star Xu — founder of exchange services provider OKCoin and OKEx — announced OK Group’s partnership with the trust company and plans to launch a stablecoin.
📑 Daily Crypto Calendar, June, 3rd💰
"The NEO MainNet will be upgraded at 9:00 am on June 3rd, 2019 (GMT)."
"Errands fulfillment and On-demand delivery service will now be fully functional."
At block 106560 coin emission rate decreases from 7 to 6.5 ZNN.
2,291 OROX burned at 00:00 UTC as part of Cointorox's on-going revenues burning program. New Total Supply: 5,568,284 OROX.
Mainnet upgrade to optimize DPoS consensus performance and improve node connection stability.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
As usual the STEEM has some delay but is continuing to follow the BTC? So the resistance line at 0.39$ is now broken and we should go in direction of the resistance line around 0.43$. If the BTC is doing its pullback, we took some distance from our support line so we could do a similar pattern and make a pull back on the 0.39$. Let's see, this scenario is not mandatory to test the 0.43$ level.
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