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Ethereum (ETH) and EOS Cross Chain Token Trading Success by Bancor

Bancor, a decentralized liquidity network, has just announced it has completed its partnership with Block.one to provide cross-blockchain token swaps with EOS and Ethereum (ETH).

EOS and Ethereum (ETH) Automated Token Conversion

The company originally announced its partnership and venture in September. The announcement just published a few hours ago reads:

“BancorX enables automated conversions between Ethereum-based and EOS-based assets without users having to deposit funds on an exchange and without the need for order-matching between buyers and sellers. Anyone can integrate an Ethereum or EOS token with BancorX by staking an amount of those tokens in a smart contract which they own and manage.”

BancorX currently supports a copious amount of Ethereum ERC20 tokens and uses its own BTN token to make the cross-blockchain transfers.

First, either EOS or Ethereum is converted into BTN. Then, the BancorX smart contract removes BNT from circulation and receives account information from the destination chain. Oracles watch the BancorX contract on the original crypto chain and report the BNT amount and destination wallet address to the BancorX contract on the destination chain.

The BancorX contract on the destination chain then issues BNT on its chain. The BNT token can then be converted into the desired coin through Relays on the Bancor Network.

The company also states that its cross-blockchain dApp was built in partnership with LiquidEOS.

>> Coinbase will Add Nearly 300 Coins in the Next year but Won’t IPO

Bancor Movement

In addition to its announcement today about BancorX, the company announced that its Bprotocol Foundation would transfer $10 million to EOS, to encourage development and token liquidity on the EOS network. This money is geared toward incentivizing developers to expand and grow the already vast network.

At press time, EOS remains the fifth largest cryptocurrency by its total market cap and is trading at $5.51 a coin, up 1.25%. Ethereum (ETH) remains in second and is trading at $210.37 a coin, up 4.17%.

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New token Makes Unprecedented Gains after Binance Listing

Coinmarketcap.com has a new listing in its top 100. As of Sunday, Ravencoin has been occupying the 58th spot thanks to a Binance listing and has sustained a growth of 118% since that announcement.

Within ten days, the coin has grown its market cap from $212,000 to $49 million! This is a rather unbelievable rise of 23,000%.

In the last 24 hours alone, the coin has grown by 55%. It is now selling at $0.056.

About Ravencoin

If we look at its chart, Ravencoin obviously went relatively unnoticed until its Binance listing. But what is Ravencoin? And why did Binance take an interest?

Well, the coin has been around since 2017, and it is about to mark its one-year anniversary with an upcoming mainnet launch on October 31st.

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The Ravencoin protocol is open-source and available to the public. Built off of a Bitcoin fork, it has a focus on the creation of digital assets on its Proof-of-Work (PoW) blockchain. According to its official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

Humble Beginnings

With no ICO, the project was built up by a small team of dedicated people. Because of this, CEO of Binance, Changpeng Zhao, allowed the project to list without any listing fees. It began trading on October 12th, and over 85% of its growth has come from Binance trades since.

“The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.”

Binance is the world’s top exchange with the highest trading volume.

No coin has seen gains like this since Bitcoin’s demise last year. Will the gains continue, is the question? Would you invest in Ravencoin?

The most humble of acorns may prove to be the most fruitful yet; let’s keep our eye on this one!

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Ethereum (ETH) | Foundation Hands Out Over $3 Million in Awards

The Ethereum (ETH) Foundation has just announced its fourth set of grants given out to 20 individuals and groups working on the Ethereum blockchain.

Ethereum (ETH) Grants

According to the official press release, the total amount of the fourth round of awards was just over $3 million USD.

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In the announcement, the Ethereum Foundation expresses its gratitude to members of the community by saying:

“Thank you to all the fantastic community members that have applied with creative ideas on how to bolster our ecosystem. We would not exist without the time and energy that you put into Ethereum. While the program continues to grow, we will increasingly continue to involve more community members in the decision making process.”

The biggest grants handed out went to Prystmatic Labs and to States, worth $500,000 a piece. Both of these companies are working on developing Ethereum 2.0.

“The ethereum killer is ethereum, the ethereum of China is ethereum, the ethereum of Taiwan is ethereum… 2.0,” said Vitalik Buterin at BeyondBlock Taipei 2017.

Grant recipients were divided by the manner in which they contributed to the development of the Ethereum network and the importance of their work. Other large grants were given to Finality Labs and Prototypal for front-end state channel research.

The funds given out in the awards comes from the Ethereum Capital Fund, which was founded back in February of 2018. Six large-scale blockchain projects created this fund. Golem, OmiseGo, Cosmos, Raiden, and Global Brain all agreed they would grant $100 million to various projects that developed the Ethereum blockchain ecosystem.

Ethereum co-founder, Vitalik Buterin, also donates money to open-source projects that build solutions to improving the Ethereum blockchain network.

DevCon 4

Currently, the Ethereum team is gearing up for Devcon 4 that will be held from Oct 30th–Nov 2nd in Prague. Tickets are currently sold out to this event. Devcon is Ethereum’s annual conference to educate and empower the Ethereum community to build decentralized applications on the Ethereum network.

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Ripple (XRP) and TRON (TRX) Prices Slide Despite Major Progress

The cryptocurrency market is trading in the red again today. Bitcoin (BTC) has just dipped below the $6,600 mark and Ethereum (ETH) is trading just above $225. Both Ripple (XRP) and TRON (TRX) are sliding down today, despite both announcing major news regarding their projects recently.

Let’s take a closer look at Ripple and TRON and their latest project advancements.

Ripple (XRP)

Ripple concluded its Swell 2018 conference last week in San Francisco.

In addition to the conference, the Money Tap app powered by Ripple’s xCurrent software just launched in Japan. There has been lots of movement for Ripple over the last two weeks. Less than 24 hours ago, the cryptocurrency project announced that David Schwartz, Ripple’s CTO, will be a featured speaker at SXSW 2019.

Ethereum’s co-founder and ConSynsys founder, Joe Lubin, will also be speaking at the conference.

Despite the positive news, XRP has been backsliding on the market this week. According to CoinMarketCap, XRP is currently trading at $0.469 a coin, down -1.24% in 24 hours. For the week, the cryptocurrency is down -10.83%.

>> Ripple’s xRapid Expands into Commercial Production

TRON (TRX)

The TRON Foundation is currently voting on the release of the TRON Virtual Machine.

There seems to be some confusion among the cryptocurrency community, as TRON’s Founder Justin Sun has said one thing while the TRON Foundation is tweeting something different.

As you can see below, the TRON Virtual Machine was supposed to already be launched by now (according to Sun), but the TRON Foundation says voting is still taking place. It seems Sun may have jumped the gun on the announcement dated on the seventh.

So, has Odyssey 3.1 been released yet? Doesn’t seem so.

Despite the confusion, the TRON Foundation is trucking along as usual and has announced its new developer suite.

This will go live once the TVM is released on the new mainnet version.

According to CoinMarketCap, TRON (TRX) is currently sitting as the eleventh largest cryptocurrency by its total market cap. At the time of writing, TRX is currently trading at $0.0250 a coin, down -1.85%.

Check back in for more news from coins like Ripple (XRP) and TRON (TRX).

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