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   646

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. 

Sparkpool to Freeze $300k Reward

As reported, pool suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund
20 February 2019   68

The Sparkpool mining pool decided to freeze the remuneration in the amount of 2,103,1485 for the extraction of block # 7,238,290. The management of the organization suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund, CoinDesk reports.

The head of the Sparkpool Xin Xu argues that users of the pool understand and agree with the decision, given the size of the amount involved.

Unfortunately, and fortunately, blockchain is so far not completely run by machines; human are still involved. So we have an opportunity to correct the problem. Integrity is our pool’s priority.
 

Xin Xu

CEO, Sparkpool

While some users suggested that a large commission was paid by mistake, others admitted that this could be a goodwill gesture from an anonymous donor to the community of the miner or even an attempt to launder money through the blockchain cryptocurrency.