Coinprism to Shut Down on March 31

Users of Coinprism are recommended to transfer their bitcoins and "colored coins" to another cryptocurrency wallet
19 February 2018   1510

The cryptocurrency exchange from Dublin Coinprism, specializing in the so-called "colored coins", announced the imminent termination of work. According to the report, users have time until March 31 to withdraw funds from the site and export their private keys.

According to the site representatives, since the launch in 2014, blockchain-technology has evolved significantly, which has resulted in the Coinprism ceasing to be competitive, especially against the emergence of ERC20-based Ethereum tokens, on the basis of which many primary offers of coins (ICO) are conducted.

Users who store funds on Coinprism are strongly advised to transfer their bitcoins and "colored coins" to another crypto-currency wallet.

Bitcoins and "colored coins" function in the blockchain regardless of the Coinprism platform. Thus, the funds will not be lost after the closure of the site. However, users may lose access to their assets if they do not export their private keys on time.

It is worth noting that Coinprism used "colored" coins, symbolizing completely different assets - from securities to cars, gold and real estate.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   91

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.