BTCC stops accepting deposits

Oldest Chinese cryptocurrency exchange stopped taking deposits in yuan and cryptocurrency
27 September 2017   1151

BTCC stops accepting yuan and cryptocurrency deposits today. This is reported by the Cryptocoinsnews.

A giant of Chinese cryptocurrency industry, the oldest exchange in ex-largest crypto trading market in the world stopped receing deposists 27.09 at 12.00 noon, Beijing time. Exchange is working for 7 years now.

Today's notice from Chinese CMS BTCChina com continues the previous announcement, when BTCC cofirmed it will "stop all trading" on September 30 due to regulations of Chinese financial authorities and China’s central bank.

Additionally, BTCChina reported about the deadline of withdrawals of digital assets and renminbi –  October 30. The administration notes that all withdrawals will be processed within 3 days, regardless of the digital asset reserve.

BTCChina operates on a 100% reserve system, meaning that we safely hold all of our customer funds in accounts and addresses that are separate from company accounts and address. All customers will be able to withdraw all their funds (including CNY, BTC, LTC, and ETH) from our exchanges within 72 hours.

BTCC statement 

The original statement.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   131

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.