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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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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

Featured Image: Depositphotos/© TPOphoto

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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.

>> TRON (TRX) ‘Partnership’ with Baidu has Nothing to Do with Blockchain

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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Ethereum News | Shasper Begins and Joe Lubin Funds DrumG

In today’s edition of Ethereum news, we’ll cover the details of Ethereum Startup Parity Technologies adding Casper code to their blockchain toolbox and why Ethereum’s co-founder, Joe Lubin, invested in a competitor.

Ethereum News: Parity Technologies and Casper

Parity Technologies, an Ethereum startup, has just added an early version of the highly anticipated Casper code to its platform, Substate.

The code was released on GitHub yesterday, and the team behind the implementation at Parity is calling it their ‘Shasper’ upgrade.

“Shasper is combination of Casper and sharding. Once it lands, we should see vast improvements in terms of ethereum’s transaction throughput,” Wei Tang, the dev leading the Parity integration, told CoinDesk.

This is the biggest Ethereum news that has broken in quite a while and a positive one, at that. While this is only the first step, the proof-of-stake consensus switch on the Ethereum network is closer. Shasper combines Parity’s in-house scaling solution and sharding, along with Ethereum’s proof-of-stake consensus switch, Casper.

ETH has yet to see a price spike since the news though.

>> Bitcoin (BTC) Interest and Trading Rising in Venezuela

Ethereum News: Joe Lubin Funds DrumG

Ethereum co-founder Joe Lubin has invested $6.5 million cash in a startup formed by senior-level execs from R3, Ethereum’s most heavily funded competitor, Forbes reported this morning.

Lubin’s ConsenSys blockchain startup will take a minority stake in DrumG. Lubin will also join as the sole outside member of the board of directors.

“The decentralized Web future—Web 3.0, linking corporations to public blockchains—that’s definitely an interledger future,” Lubin told Forbes. “It’s going to be hundreds of thousands of decentralized protocols for trusted transactions and automated agreements.”

DrumG will initially only focus on two platforms that seek to add as many as ten blockchains soon. DrumG seeks to help enterprises better understand how multiple blockchains might help them become more efficient.

DrumG also has a US patent on technology that is designed to standardize the way its clients talk about business workflows.

Are you excited by any of the Ethereum news?

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