BIP141 signaling start

1916 of 2016 blocks have to signal in order to active SegWit protocol
28 July 2017   2890
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

On Thursday, July 27, stage of Segregated Witness protocol signaling started (SegWit, BIP 141). This means that if at least 95% of the blocks (1916 of 2016) signal in support of SegWit, then the protocol will be fixed. In turn, this will provide the conditions for activating the offer for scaling BIP 141.

Coin.dance service provides the progress of this process

CoinDance
CoinDance

According to another webservice, XBT.eu, this stage ("lock-in period") will end at 8th of August.

xbt.eu
Lock-in period by XBT.eu

Now, the most interesting part for all Bitcoin traders. What's the price reaction about these news? Bitcoin gained 7.24% in 24 hours!

Bitcoin Price Chart
Bitcoin Price Chart

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Now 1 Bitcoin costs $2748.97.

It worth reminding that another Bitcoin optimization protocol was activated on 23th of July. BIP91 is a modified version of the BTC1 (SegWit2x), which supported a number of bitcoin-companies and mining pools, in May of 2017 signed under the relevant agreement in New York.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.