Legacy Bela closes the swap for ERC20 Bela

With the swap of Legacy Bela (the Phoenix Fork) for the new ERC20 Bela to provide a powerful infrastructure for Live Bella LLC, the procedure ends on May 31
23 May 2018   937

After an unsuccessful attempt to adopt Litecoin 2017 source code (the Phoenix Fork), Bela is opting for ERC20 token. Belacam backbone desperately needed an update for the underlying chain. Bela really wanted to retain its own blockchain and gradually become a rapid payment coin with the true decentralization of PoW.

Legacy Bela blockchain was plagued with orphaned blocks, it was very hard to add to exchanges, was slow with upgrade implementation and lacked application compatibility. The new token will keep some of the original coin characteristics, but also a number of new features (applying PoS, for instance) with an incredible amount of new utility. The ratio was set at 1:1. The swap closes on May 31. The procedure is as follows:

  • provide ERC20 Bela receiving address;
  • send legacy Bela to a unique coin swap address;
  • get an equal amount of ERC20 Bela within 24 hours

The new ERC20 will be supported at the following exchanges:

At the moment of publication, Bela market indicators are as follows:

Average price 0.037617 USD
Volume (24H) 50,839 USD

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   78

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin