Your Weekly Crypto Summary – Ep 2
A big hack has startled the crypto-world. And a new blockchain review system started making waves. Excited to find out more? Let’s quickly jump into the highlights for this week's cryptocurrency summary:
Cryptocurrency Summary for this Week:
- The Maple Exchange has become a victim of hackers. But the skeptics are not buying into the news.
- Revain is a review system based on blockchain tech designed for crypto-community. Simply put, Revain is the Yelp of crypto-world.
- GameCredits is a crypto-gaming store, and it has designed MobileGo token to incentivize gamers.
- USDT—a stable coin tethered to USD and backed by fiat deposits—is not so stable after all.
Maple Exchange has become another story of hackers got away with Bitcoin. The estimated amount of losses is around 5.9 million USD. But there is another point of view floating around: The hack happened just a few days after the exchange had a 6-month high trading volume day. And, there’s more to the story. Read about it Here.
Finally, crypto-community has a review platform to lean on. The Revain review system seems to be solid with incentivization through Revain Coin for well-written reviews. So, read a Revain review before trusting and trading on exchanges like Maple.
GameCredits is a gaming store designed for mobile platforms. And it incentives players with MobileGo coin. And, in turn, players holding a certain amount of MobileGo tokens can host decentralized gaming tournaments and that too with witnesses from the community. Gamers, it's time step-up the anticipations.
By definition, a stablecoin is a cryptocurrency whose value stays stable in spite of heavy fluctuations in the crypto-market. One such token born early out of this concept is USDT. But USDT uses a lousy mechanism that uses one-to-one USD to back the USDT. And the company behind the USDT has been bad with showing the availability of the funds. And, in turn, it resulted in instability of USDT in the past. And the future of USDT is uncertain.
— Cryptocurrency Guide (@eCoin4Dummies) November 6, 2018
But the crypto-world is for the ones who make good use. And it gave rise to alternatives like GUSD and TrueUSD.
This wraps up our weekly cryptocurrency summary. What are your views about this issues? Send us your comments!