Hong Kong exchange delists securities tokens

Gatecoin, a Hong Kong cryptocurrency exchange, is to delist tokens with security properties
10 October

Gatecoin, a Hong Kong cryptocurrency exchange, has announced the plans to delist all tokens that double as securities.

Thus, according to the company, the exchange is "currently awaiting the results of a regulatory compliance review by the legal advisors on the legal status of specific tokens" that the company have listed on the exchange. "The review will determine whether a token that we have listed fits the category of a security under the Hong Kong Securities and Futures Ordinance, and if so whether the token founders have taken steps to structure their token in accordance with the SFC’s framework", - Gatecoin team details. 

As reported, the tokens categorized as securities will be delisted from Gatecoin. Once the company has confirmed which of these tokens are to be delisted, clients will have one week to trade their tokens for Bitcoin (BTC) or Ether (ETH). After this period, both trading and deposits of that token will no longer be available through Gatecoin exchange.

Yet, Gatecoin will still be able to store the delisted tokens in the wallets on behalf of clients that maintain balances after trading and deposits have been disabled. Clients continuing to hold balances in these delisted tokens will be provided with a one-month period to withdraw these funds from their Gatecoin accounts.

Ethereum network is still unstable

Byzantium had executed on Monday, but developers aren't ready to call the software transition complete
18 October

Organizations and developers are better off refraining from launching large projects until the Ethereum network is fully stable after the recent Byzantium update. This is said by the Gavin Wood, Parity Technologies head and reported by the Coindesk.

Since new versions of the software were released just days before the fork, much of the network has not yet been updated. So, at the time of press, slightly more than 25% of Parity customers updated, in Geth this indicator is slightly higher - about 59%. So, in total, the update was made about 45% of the network.

Another aspect that should also be taken into account is the short time for testing. In particular, the developers recalled previous versions of the software, discovering critical errors that could make the network vulnerable to DoS attacks or lead to incompatibility between nodes and, as a consequence, network sharing.

Therefore, the question of how safe the network is at the moment is fully justified and, taking into account what has been said above, remains open. This is exactly what Gavin Wood warned, recommending at this stage to refrain from launching large-scale projects.

In addition to the nodes that have yet to update, there is also a possibility that in the current Byzantium software there may be bugs that endanger the security of the Ethereum network. The most dangerous among them is a bug of consensus, in which nodes can not communicate. Its result can be the separation of the block-man into several incompatible chains.

As far as is known, at the moment developers are conducting extensive tests, trying to detect such bugs before they are active. As Gavin Wood says, if the network does contain such a bug, it will take several days to prove itself.

I don't think anyone believed the network was going to self-combust on block 4,370,000.
 

Gavin Wood
Head, Parity Technologies

The head of Parity Technologies is also convinced that if problems are discovered, the Ethereum development team will quickly release new updates designed to prevent any harm to the platform.