Crowdfire Founders To Launch Cryptocurrency Exchange

The exchange will also offer WRX, a brand new coin which will be an integral part of the trading platform in the future
04 February 2018   297

Nischal Shetty, co-founder of Crowdfire, a social media management app for Twitter and Instagram, has announced plans to launch a new Bitcoin and cryptocurrency exchange called WazirX. The platform will be launched in March.
 

We intend to be transparent about how we build the product, why something’s not working right, what coins to list, what features to build next etc. We want to be vocal about everything we do and involve our community to help us decide the way forward. It’s time to change all that and bring in mass adoption of crypto in India!

 

Nischal Shetty

Co-founder, Crowdfire

The exchange will also offer WRX, a brand new coin which will be an integral part of the trading platform in the future.

In order to award early adopters, about 15% of the total supply of WRX Coins is being offered free, with a free giveaway target of 150 Mn WRX coins. The post stated, “When you pre-signup to WazirX, you’ll get 500 WRX coins. You will also have your own way of spreading the news further and making your family and friends part of the give away through the referral program.”

 He added that as far as pricing is concerned, WazirX is currently at the free giveaway stage and hence there’s no way to price it at the moment.

However, if you look at how the market prices a coin, it’s all about the product, tech, team, and a number of people holding it. Since we’re distributing WRX to early adopters, we expect thousands of WRX holders. As a team, we’ve built Crowdfire and scaled it to 19 Mn users now. I expect a good price for WRX when we list. We’ll disclose more details about pricing as we get closer to our free giveaway target of 150 Million WRX coins.

 

Nischal Shetty

Co-founder, Crowdfire

The news comes on the same day the Finance Minister Arun Jaitley, while presenting the Union Budget 2018, stated that although the Indian government favors blockchain, it will do every bit to stop Bitcoin and other cryptocurrencies trading in India from financing illegitimate activities. 

Electroneum to update its blockchain

Electroneum announced that new code will be released on May 30 as its blockchain reaches Block 307500
26 April 2018   50

Electroneum announced its fork is scheduled to take place at block 307500 on May 30. The fork is special as it will not result in two currencies: this is achieved by allowing all the exchanges and pools to update their software in advance. The update covers the following aspects

  • anti-ASIC code:

the implementation of such code will ensure security against any network attack

  • increase of transfer fee:

to ensure Electroneum blockchain withstands blockchain flooding, base fee will be increased to 0.1 ETN

  • block size increase before penalty:

the increase will allow miners to scale the blocks faster and get more transactions into a block

  • disabling of RingCT and Mixin:

disabling some privacy features with letting wallets remain private will get a less wait to fit a transaction into a block and a leaner blockchain size

  • 3 days mempool life:

it will ensure a reduction of the possibility of the returned transactions

Readers will be able to find the rest of the remaining details of the update here. As for the market indicators for Electroneum, here is what they look like at the moment of publication:

  • Average price   $0.024453
  • Market cap         $166,770,279
  • Volume (24H)    $1,234,100