Dogecoin hard fork to be launched in 2018

Price of DOGX tokens may become even higher when full power of smart contracts will be unleashed,” states the post. According to BitcoinTalk, smart-contract integration with Dogecoin platform will make the coin more functional in real life. Original coin holders will get one new token for each unit on …

Created in 2014 as joke cryptocurrency, Dogecoin has gained traction among cryptocurrency users. Today, with nearly $740 million in capitalisation it ranks 33rd among major cryptocurrencies. By the end of the year a group of developers plans to introduce a Dogecoin hard fork, called Dogethereum (DOGX).

On February 5, developers from Dogethereum Bridge project successfully put DOGE through Ethereum Rinkeby test network, which helps to solve the scalability issue of the second key cryptocurrency. Dogecoin hard fork developers later talked about the new project on BitcoinTalk forum:

“Dogethereum is new decentralized digital currency, it will be founded on snapshot of popular Dogecoin, based on ETH algorithm with fastest speed of transactions, smart contracts.”

The ICO is not being considered, and the coin can be mined using plain graphics processors, being a “free for all” undertaking.

“There are no any ICOs, premines or other manipulations… there are no extra commissions, fees or predefined stakes. Project starts free for all, easy for initial GPU mining and making good profits. Price of DOGX tokens may become even higher when full power of smart contracts will be unleashed,” states the post.

According to BitcoinTalk, smart-contract integration with Dogecoin platform will make the coin more functional in real life. Original coin holders will get one new token for each unit on hands. The distribution procedure will be announced later.

Coinbase and Bitfinex Announce SegWit Adoption

Two of the largest cryptocurrency exchanges in the world, Coinbase and Bitfinex, have simultaneously announced their support of Segregated Witness (SegWit) protocols. The launch promises Bitcoin investors faster transaction times and lower transactions fees, which have recently dropped from over …

Two of the largest cryptocurrency exchanges in the world, Coinbase and Bitfinex, have simultaneously announced their support of Segregated Witness (SegWit) protocols. The launch promises Bitcoin investors faster transaction times and lower transactions fees, which have recently dropped from over $35 to less than $1.

Highly popular trading platform Bitfinex announced the implementation via Medium:

“Today Bitfinex is delighted to announce support for bitcoin deposit and withdrawals using P2SH Segregated Witness (SegWit) addresses… The SegWit implementation means Bitfinex users can benefit from lower BTC withdrawal fees (approximately 15%) and improved processing times on transactions across the Bitcoin network.

Bitfinex noted in the announcement that SegWit is now implemented for Bitcoin only, and not for Bitcoin Cash. This is an important distinction, as any Bitcoin Cash sent to a Bitfinex SegWit address will be lost. The Bitfinex platform processes more than $1 billion in daily trading volume, and is one of the largest exchanges by volume online.

Bitfinex CEO Paolo Ardoino released a statement on the implementation:

“SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development. By supporting SegWit addresses, Bitfinex is tackling three of the biggest crypto-enthusiast concerns: transaction fees, transaction speed, and total network capacity.”

Coinbase has not yet completed the rollout of SegWit, announcing a phased implementation over the next week with a 100% launch finalized by the end of February:

Our engineering team has finished testing of SegWit for Bitcoin on Coinbase.

We will be starting a phased launch to customers over the next few days and are targeting a 100% launch to all customers by mid next week.

— Coinbase (@coinbase) February 20, 2018

Wait — What’s SegWit?

For the uninitiated, SegWit (Segregated Witness) is a solution to the Bitcoin scalability problem. Block sizes on the Bitcoin blockchain are limited to 1 MB. This limits the number of transactions that can be processed on the Bitcoin blockchain to between 5 and 7 transactions per second. Bitcoin’s block size limit has caused significant issues over recent months as user adoption rates increase, with transaction fees inflating to over $35 and transactions taking days to process.

Bitcoin Cash, a “hard fork” of the Bitcoin blockchain, was created on August 1, 2017, and was designed to solve the scalability problem by increasing the block size to 8 MB, thereby speeding up transaction processing rates and lowering fees.

The SegWit solution, however, is more of a “hack” than a complete solution to the issue. SegWit works around block size by splitting a transaction into two segments—appending signature, or “witness” data from the original transaction and attaching it.

An End to High Transaction Fees

Bitfinex and Coinbase, together with Coinbase’s GDAX exchange, account for almost 10% of all international Bitcoin trades, with both platforms ranked in the top 10 exchanges worldwide. Although many wallet solutions already support SegWit, the integration of the solution by two of the biggest industry players is likely to spark increased adoption of the workaround.

Bitcoin median fees from October courtesy of BitInfoCharts.

The announcements follow the release of the latest major Bitcoin Core Client update, which includes, for the first time, full SegWit support. SegWit adoption isn’t the only factor driving down Bitcoin transaction costs, however. A reduction in user activity has recently seen Bitcoin transaction fees drop significantly from over $35 to under $1.

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California Federal Court Certifies Class of Over 9000 Uber Drivers

Lev Craig. On February 15, 2018, Judge William Alsup of the U.S. District Court for the Northern District of California granted class certification in Dulberg v. Uber Technologies, Inc., a suit filed in February 2017 alleging that Uber’s pricing and payment model deprives drivers of fair pay for their work.

Lev Craig

On February 15, 2018, Judge William Alsup of the U.S. District Court for the Northern District of California granted class certification in Dulberg v. Uber Technologies, Inc., a suit filed in February 2017 alleging that Uber’s pricing and payment model deprives drivers of fair pay for their work. This decision will allow as many as 9,197 Uber drivers from across the United States to pursue their claims as a class.

Uber is among the most successful of a number of rapidly growing companies that are part of the so-called “gig economy.” The U.S. Department of Labor defines a “gig” as a “single project or task for which a worker is hired, often through a digital marketplace, to work on demand.” Gig economy and freelance workers, such as Uber drivers, are becoming an increasingly visible and important component of the U.S. workforce; an estimated nearly four million freelancers work in the New York City area alone. Yet while gig economy workers may enjoy certain benefits—such as scheduling flexibility—they are also often at a disadvantage in comparison to traditional employees. Gig economy workers are almost invariably classified as independent contractors and are thereby cut off from most of the legal protections afforded to employees, including minimum wage and overtime laws, as well as employment benefits like health insurance—and many freelancers report difficulty getting paid for their work on time or at all.

Uber’s treatment of its gig economy workers has gained particular attention over the past several years, as drivers have brought a number of lawsuits against the company and have protested many of Uber’s internal policies, such as its recently revoked harsh termination policy, under which any driver with three complaints would be automatically terminated without investigation. Recently, a U.K. court issued a landmark decision, finding that Uber’s London drivers were employees, not independent contractors, and we have previously reported on several lawsuits brought by Uber drivers concerning whether drivers’ on-call time is compensable, drivers’ arbitration agreements with Uber, and class actions challenging Uber’s classification of drivers as independent contractors.

In Dulberg, Uber driver Martin Dulberg alleges that Uber’s payment and pricing model systematically underpays drivers for their work. Uber charges riders a flat fee for their trip, determined based on an exaggerated estimate of the trip’s distance and duration. According to Dulberg’s complaint, Uber tells its drivers that they will receive a certain percentage of a rider’s flat fee payment as compensation for their work, but actually pays drivers based only on a trip’s actual distance and duration—both of which are typically less than the pre-ride estimate. As a result, Dulberg alleges, Uber regularly pays its drivers less than the amount to which they are entitled under their agreement with the company.

Dulberg brought suit on behalf of all Uber drivers who had been subjected to this payment model, a group which includes thousands of workers located across the country. Uber argued against class certification on the grounds that the company could present individual defenses to drivers’ claims and that the policies in question hadn’t resulted in less pay for all affected drivers. The court was unpersuaded, however, calling the case a “classic case of a class action,” and allowed the class claims to move forward. While Dulberg doesn’t address the question of whether Uber’s drivers are properly classified as independent contractors or employees, the court’s decision last week does recognize that many of Uber’s drivers are subjected to the same payment policies and practices and represents an important step towards ensuring that drivers receive fair payment for their work.

If you believe that your employer has violated wage-and-hour laws, contact The Harman Firm, LLP.

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Ethereum Classic Hits Market Capitalization of $3.69 Billion (CRYPTO:ETC)

It is not possible to purchase Ethereum Classic directly using U.S. dollars. Investors seeking to acquire Ethereum Classic must first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or …

Ethereum Classic logoEthereum Classic (CURRENCY:ETC) traded down 4.2% against the U.S. dollar during the 1-day period ending at 23:00 PM E.T. on January 30th. One Ethereum Classic coin can currently be purchased for approximately $36.86 or 0.00343093 BTC on popular cryptocurrency exchanges including GOPAX, CoinFalcon, EXX and OKEx. Ethereum Classic has a total market cap of $3.69 billion and approximately $792.48 million worth of Ethereum Classic was traded on exchanges in the last day. Over the last week, Ethereum Classic has traded up 7.3% against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last day:

  • Bitcoin (BTC) traded 2.2% lower against the dollar and now trades at $10,882.30 or 1.00000000 BTC.
  • Ethereum (ETH) traded 3.5% lower against the dollar and now trades at $863.81 or 0.08040080 BTC.
  • Bitcoin Cash (BCH) traded 4.4% lower against the dollar and now trades at $1,334.46 or 0.12420800 BTC.
  • Litecoin (LTC) traded down 3.3% against the dollar and now trades at $218.54 or 0.02034120 BTC.
  • Monero (XMR) traded 7.8% higher against the dollar and now trades at $316.04 or 0.02941570 BTC.
  • RaiBlocks (XRB) traded 32.3% higher against the dollar and now trades at $18.58 or 0.00186028 BTC.
  • Bitcoin Gold (BTG) traded down 2.3% against the dollar and now trades at $126.95 or 0.01181600 BTC.
  • Zcash (ZEC) traded 4.4% higher against the dollar and now trades at $444.63 or 0.04138470 BTC.
  • Nano (NANO) traded 25.8% higher against the dollar and now trades at $9.00 or 0.00083741 BTC.
  • Verge (XVG) traded 0.4% lower against the dollar and now trades at $0.0684 or 0.00000637 BTC.

Ethereum Classic Profile

Ethereum Classic (CURRENCY:ETC) is a proof-of-work (PoW) coin that uses the Ethash hashing algorithm. Its launch date was July 30th, 2015. Ethereum Classic’s total supply is 100,030,850 coins. The official message board for Ethereum Classic is forum.ethereum.org. The official website for Ethereum Classic is www.ethereum.org. Ethereum Classic’s official Twitter account is @eth_classic and its Facebook page is accessible here. The Reddit community for Ethereum Classic is /r/EthereumClassic and the currency’s Github account can be viewed here.

According to CryptoCompare, “Ethereum Classic is an attempt at keeping the Ethereum blockchain unaltered by the part of the community that opposed the hard fork and the return of The DAO funds. It started trading on Poloniex and is getting more and more traction. The Ethereum Classic mission statement is: “We believe in decentralized, censorship-resistant, permissionless blockchains. We believe in the original vision of Ethereum as a world computer you can’t shut down, running irreversible smart contracts. We believe in a strong separation of concerns, where system forks are only possible in order to correct actual platform bugs, not to bail out failed contracts and special interests. We believe in censorship-resistant platform that can be actually trusted – by anyone.” Our block explorer data: total coins supply, total network hash rate, last block number and total difficulty are freely provided by https://gastracker.io/ In 2017, the Die Hard fork was implemented in ETC, removing the Ethereum difficulty bomb. Currently, there are no plans to move to Proof of Stake like Ethereum, although developers at the IOHK institute are developing a new PoS protocol for Ethereum Classic.”

Buying and Selling Ethereum Classic

Ethereum Classic can be traded on the following cryptocurrency exchanges: OKEx, bitFlyer, Quoine, Bitbank, Bitstamp, BigONE, RightBTC, Korbit, Gate.io, Qryptos, Cryptopia, BitBay, CoinFalcon, Kraken, YoBit, EXX, Gemini, EtherDelta, Tidex, Huobi, Bitinka, ChaoEX, Coinnest, Mercatox, Coinbene, Coinsquare, Kucoin, Bithumb, Gatehub, Koineks, BTCTurk, Bitfinex, CoolCoin, Coinone, Liqui, Bancor Network, Bit-Z, CEX.IO, Tidebit, Bitcoin Indonesia, ACX, Coinut, Lbank, Bibox, Upbit, BitGrail, Allcoin, WEX, Exmo, Binance, Cobinhood, DSX, Poloniex, Coinrail, GDAX, HitBTC, Bitso, Koinex, Livecoin, TOPBTC, Mr. Exchange, Independent Reserve, QuadrigaCX, COSS, xBTCe, BX Thailand, BTC Markets, Gatecoin, CoinExchange, ZB.COM, BtcTrade.im, GOPAX, Bittrex and CoinEgg. It is not possible to purchase Ethereum Classic directly using U.S. dollars. Investors seeking to acquire Ethereum Classic must first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Ethereum Classic using one of the aforementioned exchanges.

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Bitcoin Gold (BTG) Reaches Market Capitalization of $2.14 Billion

Bitcoin Gold logo Bitcoin Gold (CURRENCY:BTG) traded down 2.3% against the U.S. dollar during the 1-day period ending at 23:00 PM E.T. on January 30th. One Bitcoin Gold coin can currently be purchased for approximately $126.95 or 0.01181600 BTC on popular cryptocurrency exchanges …

Bitcoin Gold logoBitcoin Gold (CURRENCY:BTG) traded down 2.3% against the U.S. dollar during the 1-day period ending at 23:00 PM E.T. on January 30th. One Bitcoin Gold coin can currently be purchased for approximately $126.95 or 0.01181600 BTC on popular cryptocurrency exchanges including Fisco, Bitcoin Indonesia, GetBTC and Upbit. Bitcoin Gold has a total market cap of $2.14 billion and approximately $41.16 million worth of Bitcoin Gold was traded on exchanges in the last day. Over the last week, Bitcoin Gold has traded down 2.3% against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last day:

  • Zcash (ZEC) traded 4.4% higher against the dollar and now trades at $444.63 or 0.04138470 BTC.
  • ZClassic (ZCL) traded 4.5% lower against the dollar and now trades at $148.46 or 0.01381800 BTC.
  • Komodo (KMD) traded 6.6% lower against the dollar and now trades at $4.53 or 0.00042123 BTC.
  • ZenCash (ZEN) traded up 5.6% against the dollar and now trades at $37.76 or 0.00353503 BTC.
  • Hush (HUSH) traded 5.8% lower against the dollar and now trades at $2.14 or 0.00019999 BTC.
  • Zero (ZER) traded 1.8% higher against the dollar and now trades at $1.73 or 0.00016237 BTC.

About Bitcoin Gold

BTG is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 25th, 2017. Bitcoin Gold’s total supply is 16,939,324 coins and its circulating supply is 16,839,324 coins. Bitcoin Gold’s official Twitter account is @bitcoingold and its Facebook page is accessible here. The Reddit community for Bitcoin Gold is /r/bitcoin and the currency’s Github account can be viewed here. Bitcoin Gold’s official website is bitcoin.org. The official message board for Bitcoin Gold is bitcointalk.org.

According to CryptoCompare, “Bitcoin Gold is a fork of the Bitcoin blockchain that occurred at block 491407. It implements a new PoW algorithm, Equihash, which makes it ASIC-resistant and can only be mined by GPUs rigs. The purpose of Bitcoin Gold is to make mining decentralized again following Satoshi Nakamoto’s vision of “1 CPU = 1 vote”. “

Bitcoin Gold Coin Trading

Bitcoin Gold can be purchased on these cryptocurrency exchanges: CEX.IO, OKEx, Mr. Exchange, GetBTC, BX Thailand, Negocie Coins, Lbank, Bit-Z, ACX, Zaif, Liqui, Korbit, WEX, BTCTurk, CoinsBank, Coinrail, BigONE, Coinroom, Luno, Coinsquare, Bitonic, itBit, Independent Reserve, Kraken, BtcTrade.im, EXX, CoolCoin, Bitfinex, BitMarket, Tidex, BitBay, Foxbit, Cryptopia, xBTCe, ZB.COM, BitMEX, LakeBTC, BL3P, bitFlyer, Bibox, Gate.io, HitBTC, Bittrex, Poloniex, BTCC, CoinExchange, CoinEgg, Bitbank, Livecoin, Binance, BTC Markets, Quoine, Bitstamp, GDAX, RightBTC, Coinone, Upbit, Gatecoin, Paribu, Bitso, Bithumb, Coinnest, QuadrigaCX, BitGrail, Fisco, Bitcoin Indonesia, Kucoin, YoBit, Coinfloor, Allcoin, BTCBOX, Bleutrade, Huobi and Gemini. It is not possible to purchase Bitcoin Gold directly using U.S. dollars. Investors seeking to trade Bitcoin Gold must first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Bitcoin Gold using one of the exchanges listed above.

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