In a notice on the 29th of November, Coinbase, the largest US-based crypto exchange, stated that the wallet will no longer support Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Stellar Lumens (XLM) as well as their networks.

According to the top crypto exchange, it decided to stop supporting these assets due to “low usage” and this decision will be effective from December 5, 2022.

“This does not mean your assets will be lost,” said the announcement. “Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase.”

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The post Coinbase Wallet Will Stop Supporting BCH, XRP, ETC, and XLM from Jan. 23. Here’s why appeared first on Times Tabloid.

Ethereum is the leading smart contract platform and community-run technology powering the native cryptocurrency ether (ETH) and thousands of decentralized applications (dApps). Ethereum currently runs on a proof-of-work (PoW) consensus algorithm which permits mining. 

The largest smart contract platform is approaching its transition from proof-of-work (PoW) to proof-of-stake (PoS) which supports staking instead of mining. Ethereum developers announced that the Merge event on the blockchain will occur around mid-September. The blockchain aims to become more scalable and complete after the much-awaited event.

Read More: Ethereum Mainnet Shadow Fork 10 Done and Dusted in Preparation for the Merge in September

To still have a platform that allows for mining after the Merge execution, Chandler Guo, a popular cryptocurrency miner disclosed that he would fork the Ethereum blockchain which is the second-largest crypto project by market capitalization after Bitcoin (BTC). He added that the new network would be named “ETH POW.”

After the implementation of the Merge on the Ethereum mainnet, the Chinese miner and others alike intend to execute a hard fork of the Ethereum network that ignores the upgrade to create a new network, ETH POW. 

In a closed press conference at the ongoing ETHSeoul 2022 Hackathon event, Ethereum’s Vitalik Buterin commented on the popular Chinese miner’s plan while responding to reporters. He highlighted the outcomes of this probable miner-led proof-of-work fork on the Ethereum network. 

Buterin said, “I’m not expecting it to have substantial, long-term adoption. According to him, there is no organic aspect to the possible fork, referring to the supporters of the fork as “a couple of outsiders that basically have exchanges, and mostly just want to make a quick buck. I hope that whatever happens, doesn’t lead to people losing money.”

Read Also: Vitalik Buterin Speaks on What Ethereum (ETH) and Crypto Should Become in the next 10 Years

Traders Betting On Yet To Exist Tokens

About three crypto exchanges including Poloniex, MEXC, and BitMEX are letting traders bet on tokens that are yet to be in existence.

While Poloniex and MEXC exchanges have listed tokens linked to a probable miner-led fork of the Ethereum network, BitMEX has added a futures product connected to the ETHPoW tokens. 

It’s worth noting that Chandler Guo, the Chinese crypto miner was involved in the 2016 fork that gave birth to the Ethereum Classic (ETC). The blockchain which permits crypto mining was recently referred to as a fine chain by Vitalik Buterin.

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The post Vitalik Buterin Not Expecting the Planned Miner-led Ethereum Fork To Succeed, Warns Investors appeared first on Times Tabloid.

It can be recalled that ETC started the notable surge from $26 to a peak of $48.50. According to Grayscale, the renewed interest in Ethereum Classic (ETC) was likely initiated by speculation that the Ethereum merge expected to play out later this year may cause miners to move their hash power to the ETC network.

Read Also: JPMorgan Now Let Retail Customers Invest In Bitcoin, Ethereum, Bitcoin Cash, and Ethereum Classic

A few days ago, it was announced that the merge to proof-of-stake (PoS) consensus mechanism has successfully occurred. This implies that the team may do the same on the mainnet before the end of the year.

The much-anticipated development is expected to disable Ethereum miners from earning block rewards with their existing setups and will need to find somewhere to contribute their processing power.

Currently, Ethereum Classic network is likely the first candidate for ETH miners because Ethereum Classic network has a long-term commitment to Proof of Work (PoW) and is a fork of Ethereum with very similar code.

Impact of miners on a PoW network, such as Bitcoin, Ethereum, and Ethereum Classic, can be observed through changes in hash rate, the average computational power used to secure the network per second.

There will be an increase in hash rate when more miners are mining on the network and decreases when they leave.

Read Also: Ethereum (ETH) Donations to Ukraine’s Government Rapidly Increase after Airdrop Announcement

Grayscale noted that since the merge testnet launch was announced, the ETC hash rate has increased slightly by relatively 1% from 15th March to 22nd March 2022, which indicates that Ethereum miners have not started migrating in numbers to the ETC network yet. However, it’s expected to play out later, due to the fact that the hash power from the Ethereum network has to relocate somewhere.

Grayscale believes that the migration of Ethereum miners to the ETC network will certainly boost its hash rate, which also represents greater network security and may lead to more confidence in the network.

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The post Grayscale Highlights How Ethereum 2.0 Would Positively Impact Ethereum Classic (ETC) appeared first on Times Tabloid.

According to the report, the major investment bank told its advisors via a memo earlier this week that they can now take orders to trade five cryptocurrencies, four from Grayscale Investments and the remaining one from Osprey Funds, effective 19th July 2021.

Read Also: Judging By History, Top Analyst Says Ethereum (ETH) Would Hit $18,000 by July 2022

The report reads in part as follows:

“JPMorgan’s advisors can execute only “unsolicited” crypto trades, meaning advisors cannot recommend the products but are allowed to buy or sell on the behalf of a client’s request. The funds JPMorgan has approved include Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic vehicles, as well as Osprey Funds’ Bitcoin Trust.”

The report further stated that the directive applies to all JPMorgan clients seeking investment advice, including its bank’s self-directed clients that use commission-free Chase trading app, mass affluent clients whose assets are managed by financial advisors under JPMorgan Advisors, and ultrarich clients serviced by the private bank.

In a development first reported by CoinDesk in April, JPMorgan revealed that it was getting ready to offer an actively managed bitcoin fund to private wealth clients.

It can be recalled that back in 2017, Jamie Dimon, the CEO of JPMorgan threatened to fire any employee caught trading Bitcoin (BTC), but things seem to have changed drastically for the bank in relation to cryptocurrency. This recent move has been termed as a milestone in the digital asset offerings of the bank.

Read Also: Real Vision’s Raoul Pal: Ethereum (ETH) Will Beat Every Other Top Crypto in the Coming Years

The growing client interest in crypto gave the CEO no choice but to open the door of the bank for crypto-related activity. However, he still remains skeptical about the asset class, considering his comment in May.

According to Mary Callahan Erdoes, asset and wealth-management chief at JPMorgan, many of the bank’s clients view cryptocurrency as an asset class, and they are interested in investing in it.

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