Tron Reveals Second Layer Scalability Solution, Crypto Market Sees Slight Losses, New Bitcoin Core Update Brings Improved Security And China Plans On Banning Crypto Mining — The Crypto2Cash Chronicle
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Tron Reveals Second Layer Scalability Solution
Tron CEO Justin Sun has revealed via Twitter and Medium that the company is working on a second layer scalability solution called the Sun Network. The testnet will launch on May 30 and the official launch is scheduled on August 10. The Sun Network will be a DApp sidechain and will increase the capacity of Tron’s DApp’s, while allegedly decreasing energy consumption. Tron also added that it will “closely follow the industry’s cutting edge development in order to further develop the Tron ecosystem”, but gave no more details in how it plans to do so. The Tron cryptocurrency seemed to have reacted positively to this announcement and is one of the few top 20 coins in the green today, gaining 7.46% in the last 24 hours.
New Bitcoin Core Update Brings Improved Security To Hardware Wallets
Bitcoin Core, the most widely spread version of the cryptocurrency’s software, is getting an update. It will be the 18th major version of the code and will finally allow users to connect their hardware wallets to their full nodes. Even tough this is only a small change, it is a very important one for privacy focused users. By running their own full node, users can now be 100 percent sure, that all data and transactions, which are downloaded onto their hardware wallet, are 100 percent correct and checked by their own node.
Crypto Market Sees Slight Losses
Most top 20 currencies have seen slight losses between 0.5% and 4% over the last 24 hours. Top performer of the day is Tron, gaining 7.46%, while Bitcoin SV performed the worst, loosing 6.25%. Bitcoin is trading around $5,200 and saw almost no price change since yesterday. Looking at the weekly statistics, it is the first time the largest cryptocurrency saw 7 consecutive green weeks, since it’s all time high in December 2017.
China State Planning Agency Considering Banning Bitcoin Mining
China’s National Development and Reform Commission has revealed plans to ban all crypto mining in the country. Crypto mining appeared on a list of activities the state “deems to be in violation of relevant laws and regulations, pose a safety hazard, or are unecological”. With ICO’s already banned, it could be quite possible that this is the end for cheap crypto mining in China, where an estimated 2/3 of all mining pools are currently operating from. The Chinese public now has until May 7 to comment on the planned ban.
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