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EOS Rank Fifth Cryptocurrency As Being Supported By LUMI Wallet And MINERGATE

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EOS Rank Fifth Cryptocurrency As Being Supported By LUMI Wallet And MINERGATE

Electronic-Optical System popularly known as EOS was designed by a private company known as block.one and was released as open-source software on 1st June 2018.

EOS.IO is a blockchain where its protocol is controlled by the native cryptocurrency called EOS. Its attributes involve real computer GPU(s), RAM, hard-disk storage and CPU(s) for processing with computer resources distributed among EOS cryptocurrency holders.

EAOS runs on a model known as the decentralized autonomous corporation which performs millions of transactions per second and eliminate transaction fees. For it to gain popularity, the native cryptocurrency gave out 1 billion tokens at the launch of it blockchain as ERC-20 by block .one.

Lumia wallet has been in the system for some time now, their cryptocurrency wallet supports the storing of different types of cryptocurrency. It is an admirably secure user-friendly cryptocurrency wallet which supports most popular cryptocurrencies such as Bitcoin, Ethereum etc.

It has client-side private storage. Which was founded and released in 2017 by a cryptocurrency geek, Lumi wallet private keys are designed on the client side which has no connections to Lumi company, this shows that the company has no statistics or information in relation to the user’s wallet. the system is designed in such a way that if it’s been attacked by hackers or fraudsters user’s wallet will still be secure.

MinerGate is a mining pool, public mining pool to be precise. Where people use the power of their computer to increase the hashing power to support other miners. Their interface is downloadable where you can mine your favourite cryptocurrency.

In 2018, the team of MinerGate introduced its own EOS block producer into the company. The team has experience in building a highly loaded gadget for cryptocurrency and blockchain. MinerGate has its own software solutions and also a full-scale project developer.it has a record of 3,600,000 active users worldwide 10 active mining pools for various cryptocurrencies.

Lumi wallet seeks to enlarge its product by collaborating with MinerGate team as a long-term strategic partner in order to create new products. In view of this, EOS and token will be added to the partnership based on Lumi Wallet.

This partnership will increase the boundaries for the development of Lumi wallet which will merge the process of developing MinerGates EOS ecosystem. This will allow Lumi wallet to have full access to the main wallet while operating EOS within the ecosystem of MinerGate.Due to this partnership, EOS has gained much attention making it possible to be part of the top five cryptocurrency in the blockchain industry.

Now that lumi wallet is operating in full support with MinerGate, EOS users can now manage EOS and EOS tokens on their account as well as EOS powered dapps. Lumi in collaboration with MinerGate will continue to promote and popularize EOS blockchain till it reaches the top.

Cryptocurrency

Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

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Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000

Peter Schiff, a stockbroker, and financial commentator took to Twitter recently to voice his opinion on the direction of BTC. Though he said the crypto asset is on his way to $6K, however, warns that things can go worse, driving price below to $2K.

A Possible Crash Below $2,000 For Bitcoin (BTC)

Peter Schiff, is known for his love for gold while exhibiting intense hate for bitcoin. However, he has kept an eye on bitcoin, updating the community about its impending crashes to prove his point that bitcoin is worthless.

Though he admitted possessing some bitcoin, his recent tweet still shows he doesn’t see the asset as a wise choice for smart investors.

Peter Schiff, in his recent tweet, expressed how horrible things were looking for bitcoin. According to Mr Schiff, bitcoin is in a move to complete a popular pattern, the head-and-shoulder, which will see the asset drop in value to about $6,000. Furthermore, he opines that bitcoin could slump drastically below the $2,000 mark if the pattern is completed.

While many do not agree with Peter Schiff, some others think bitcoin crashing below $2,000 would be an opportunity to buy more bitcoin.

All these, however, is happening at a time when the institutional traders are trying to pick some interest in bitcoin as trading on the futures exchange, Bakkt, continues to rise.

At the time of writing, bitcoin is currently trading at $8,062.72, with a market cap of over $145 billion according to CoinMarketCap.

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Cryptocurrency

Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

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Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

Time and again, several members of the XRP community have opined that the massive dump of the crypto asset in the market has impacted on its price, negatively. Now, there are speculations for another dip in XRP’s price. The latter is after Whale Alert informed on September 7, 2019, that 100 million XRP tokens have been transferred to Jed McCaleb, Ripple’s co-founder. 

Ripple Sends XRP Worth About $26 Million to McCaleb’s Wallet

According to Whale Alert, Ripple transferred 100 million XRP valued at $26,322,440 to Jed McCaleb’s wallet. The transfer has led to the sentiment in the crypto space that XRP might tank below its $0.262 price today. Also, the opinion is due to McCaleb’s reputation for dumping huge amounts of XRP in the market.

McCaleb is Ripple’s co-founder, and in 2014, Ripple transferred 9 billion XRP to him as his share for founding the company in 2012. However, the blockchain company entered a seven-year agreement with McCaleb to control how much XRP he can sell in the market yearly.

Per the agreement, the co-founder could sell $10,000 worth of XRP per week in the first year, $20,000 per week in the second, third, and fourth years, and “750 million XRP per year for the fifth and sixth years.” In the same vein, he could choose to dump 1 billion XRP yearly for the seventh year, and 2 billion XRP yearly after the seventh year.

McCaleb’s Dump of XRP Impacts of Asset’s Market Price

Given that this is the fifth year since the agreement was made, McCaleb can choose to dump thousands of XRP tokens daily. In 2014 when he announced his plans to sell a significant part of his XRP holdings, the value of the asset declined by 40%. As such, the continuous dump of the asset has also been pointed out as one of the reasons why it is not spiking like other top cryptocurrencies.

Asides from being reputable in the XRP community, McCaleb is also a name associated with Mt Gox, one of the first cryptocurrency exchanges. He founded the platform and sold it off years before its hack. Similarly, McCaleb is the creator of Stellar (XLM), the 11th largest cryptocurrency by market cap.

Nonetheless, the crypto community has aired its views about the potential for McCaleb to release another share of XRP to the market. Crypto BitLord, for instance, said: “Wow. Another cool $26M Jed can unload at market. This shits out of control.” Another remarked that: “know, right?! Private businesses shouldn’t be allowed to exist. The name “Jed” should be banned.”

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