Category: Momentum Press Release

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Wanchain Announces Successful “Saturn” Hard Fork Setting Deflationary Path Forward

Press Release: Wanchain has activated its fifth and latest hard fork upgrade, moving WAN closer to becoming a deflationary digital asset. 

 

5th July 2022, London –  Wanchain has successfully launched its new Saturn hard fork, which introduced several network improvements and completely overhauled the network’s fee market. The Saturn hard fork was activated at Block 21,454,700 at 06:47 am UTC on July 5th. 

 

The Saturn Hard Fork 

With the Saturn hard fork upgrade, each transaction on Wanchain will involve burning a base fee, which automatically decreases the WAN circulating supply – in a process similar to that of Ethereum’s EIP-1559. Additionally, the Saturn hard fork upgrades Wanchain’s EVM, making it fully compatible with the Ethereum London EVM.

 

EIP-1559 Protocol to Increase Deflation

The introduction of the EIP-1559 protocol makes major adjustments to the network’s fee market and serves as a sustainable WAN burning mechanism. Now, every transaction includes a base fee that is burned, thereby reducing WAN circulating supply and adding deflationary pressure on WAN. The Saturn hard fork also introduces the concept of a “tip,” or priority fee, that users can choose to pay if they want their transactions to be prioritized by the network.

 

EVM Opcodes and SHA-3

Saturn also upgrades Wanchain’s EVM to be fully compatible with Ethereum’s London EVM by supporting the latest EVM opcodes. This increased interoperability enables Solidity developers to more easily migrate their applications to Wanchain. For instance, as a result of Saturn, Ethereum-based tools such as MetaMask, Remix and Truffle are now fully compatible with Wanchain.

 

Saturn further adds support for new cryptographic hash functions, including SHA-3. Adding native support for SHA-3 offers performance and versatility benefits, and increases interoperability with projects using SHA-3. 

 

Gas Limit Adjustment

Saturn additionally adjusts the Wanchain gas limit per block to 50 million, which influences the number of transactions that can fit in a block. Wanchain’s gas limit per block is now higher than Ethereum’s, which is set to 30 million. As a sustainable PoS network, Wanchain achieves this without sacrificing the network’s high transaction speed and low transaction fees. 

 

The Saturn hard fork represents the biggest technological leap forward for Wanchain with numerous advancements in the protocol, with improved functionality, performance, and cost, as the company sets off on a deflationary path forward. 

 

About Wanchain

We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralized blockchain interoperability solution. The company’s mission is to drive blockchain adoption through interoperability by building fully decentralized bridges that connect the world’s many siloed blockchain networks. This cross-chain infrastructure empowers developers to build truly decentralized cross-chain applications to power the future of Web3. 

 

Media Contact

Contact Name: Temujin Louie

Contact Email: [email protected]

 

Wanchain Socials

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Wanchain is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 

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Huobi Ventures Enters Strategic Partnership with Bit2Me, Expanding Reach to Spanish-Speaking Markets

Press Release: The strategic partnership between Bit2Me and Huobi Ventures will leverage blockchain technology to reach a Spanish-speaking market of 500 million people. 

 

19th January 2021, Madrid, Spain — Huobi Ventures, the global investment arm of Huobi Group, today announced a strategic partnership with Bit2Me, the Spanish company that offers technological financial services based on cryptocurrencies. Under this strategic partnership, Huobi Ventures will purchase tens of millions of B2M tokens, funding the company’s future growth plans. 

 

Partnership Targets Market of 500 Million 

The two parties will explore and execute long-term partnership opportunities, capitalizing on Huobi’s cutting-edge technology and resources and expanding its reach to Spanish-speaking markets around the world.

 

Huobi Ventures’ investment follows Bit2Me’s 20-million EUR ICO in September and reflects Huobi’s interest in targeting Spanish-speaking markets around the world, which cover a population of over 500 million people. 

 

What Bit2Me Brings to The Table

As a growing cryptocurrency company in Spain, Bit2Me offers more than 20 solutions to buy, sell and manage virtual currencies and Euros on a single platform. Bit2Me also plays an important role in increasing crypto adoption in Spanish-speaking markets with its user education and media businesses, Bit2Me TV, Bit2Me News, Bit2Me Agenda, and Bit2Me Academy, all of which are aimed at educating the next generation of crypto investors. Bit2Me has facilitated more than 1.5 billion EUR in transactions since launching in 2015.

 

Unica Yin, Director of Strategic Investments at Huobi Ventures stated: 

 

“Bit2Me has a bright future. The company shares our vision of increasing global crypto adoption, and we firmly believe that it will become a leader in crypto products and services in the Spanish-speaking world. We plan to partner with Bit2Me on investments, management, and technology, and hope to discover more mutually beneficial opportunities going forward.”

 

To date, Huobi has invested over $70 million dollars across hundreds of projects in blockchain, media, public blockchains, stablecoins, and other emerging sectors. Huobi Ventures invests in projects that have the potential to impact the broader blockchain industry and can supplement Huobi’s growing global ecosystem. The official Huobi Ventures Medium page can be visited by interested parties for additional information. 

 

About Huobi Ventures

Huobi Ventures is a wholly-owned subsidiary of Huobi Group that focuses on global investments. Huobi Ventures’ structure is divided into four business lines: Strategic Investment, Strategic M&A, Asset Management, and Global Cooperation. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively. Huobi Ventures aims to drive growth for Huobi Group and create a global ecosystem with our partners.

 

Bit2Me Socials 

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Media Contact Details

Contact Name: Victoria Salas

Contact Email: [email protected]  

 

Bit2Me is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Dominant Trading Platforms Charge Traders up to 13 Times more than CPH Crypto 

Bitcoin Press Release: Recent calculations clearly document that the dominant crypto trading platforms are up to 13 times more expensive for active crypto traders to use than the new Scandinavian exchange CPH Crypto.  

 

16th December 2020, Copenhagen, Denmark – Every swing trader, day trader and scalper in the crypto market knows the importance of trading fees and how those fees often make it extremely difficult to pursue trading strategies based on high-frequency trading. It’s commonly known among traders that cost simply kills profit. 

 

Lack of competition and transparency prevents traders to profit. The problem is simple: Up until now, the competition on fees in the crypto trading market has been virtually absent, and the dominant trading platforms have been able to charge exorbitant transaction fees and get away with opaque pricing structures, which has made it extremely difficult for customers to figure out what they are actually paying in total for the services they are using.  

 

The reason for the problem is immaturity in the crypto market. Going back twenty years, the traditional stock, bond and FX market was on the same stage of development as the crypto market is today, and similar to the crypto market, the traditional market was dominated by few very big players that were able to charge very high prices because of lack of competition and transparency.  

 

Immediate Disruption of Fee Structures 

“Eventually new players entered the market and started to disrupt the dominant players’ pricing models and drive down prices. And today, trading fees on traditional products are only fractions of the level we see in the current crypto market,”

 

says CEO Jan Andersen, CPH Crypto, who continues:

 

“Our team knows this because we have our roots in the old trading world. And our declared mission is to disrupt the dominant crypto players by offering our clients fees that are way below the fees of these players. The history evidently repeats itself, only this time traders should not have to wait twenty years before the fees are down to a reasonable level. CPH Crypto has decided to drive down the fees immediately.” 

 

Watch out for Hidden Fees 

To obtain a complete view of a particular broker’s or exchange’s trading fees, you need to take both commissions and spread into consideration. Traders tend to forget the impact of the spread on the total costs, even though the spread is often where the most significant part of the total fees is hidden, especially when trading on so-called commission-free brokers or exchanges.  

Typically these brokers/exchanges tend to compensate for the lack of fee on commission by heavily increasing the spread – the difference between the bid price and the sales price – which enables them to earn their margin on the spread instead. On top of this, traders should not forget that high fees on money management – like deposits and withdrawal – is also added to the total costs.  

 

Extreme Price Differences up to 1,249% 

In order to prove the extreme differences in fees between CPH Crypto and four globally dominant trading platforms, CPH Crypto has conducted a line of price comparison based on concrete examples. Four major platforms are Binance, Kraken, Coinbase Pro and eToro, and the examples are based on one month of crypto trading volume of respectively 1,000 USD, 10,000 USD, 200,000 USD and 500,000 USD. In summary the results of the comparisons are:  

 

By 1,000 USD Per Month  

  • Cheapest platform: CPH Crypto with fees in total: 0.6 USD 
  • Most expensive platform: Coinbase Pro with fees in total: 5.0 USD 
  • Difference 4.4 USD / 733% 

 

By 10,000 USD Per Month 

  • Cheapest platform: CPH Crypto with fees in total: 6 USD 
  • Most expensive platform: eToro with fees in total: 37.5 USD 
  • Difference: 31.5 USD / 525% 

 

By 200,000 USD Per Month

  • Cheapest platform: CPH Crypto with fees in total: 79 USD 
  • Most expensive platform: eToro with fees in total: 750 USD 
  • Difference: 671 USD / 849% 

 

By 500,000 USD Per Month

  • Cheapest platform: CPH Crypto with fees in total: 139 USD 
  • Most expensive platform: eToro with fees in total: 1,875 USD 
  • Difference 1,736 USD / 1,249% 

(Numbers collected in Q2, 2020. Please see this page for more information)

 

“All-in-one” Fixed Fee. Unlimited Trading for 39 USD/Month 

According to CPH Crypto’s philosophy, traders should only have to focus on their strategy and not on the costs when they trade. That is why CPH Crypto goes against the trend of high trading fees on the crypto market and offers a deep-discount fixed “all-in-one” fee of only 39 USD/month for unlimited trading or a commission of only 0.04 pct. per transaction for single trading.   

 

To learn more, visit the CPH Crypto website: https://cphcrypto.com/

 

Media Contact Details

Contact Name: Jan Andersen

Contact Number: +45 4060 3239

Contact Email: [email protected]

 

CPH Crypto is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.