National Chinese Science Academy to Launch Blockchain Lab

China continue to move forward to distributed ledger technology
21 June 2018   527

Chinese Academy of Sciences (CAS) reported that together with the Beijing blockchain start-up Tai Cloud Corp has established a new "Big Data and Blockchain Laboratory" whose activities will focus on "the relationship between the technology of blockchain and mathematics". This is reported by Coindesk.

Xiaoshan Gao, deputy director of the Center for Mathematics and Interdisciplinary Sciences at the CAS, said that, in his view, mathematical methods play a "key" role in many fundamental problems of blockchain technology.

This laboratory, established shortly after Chairman Xi Jinping of China endorsed the blockchain technology at the annual scientific conference held by the CAS in May, is not the first step of the CAS in the field of the blockchain. Earlier this year, the Academy announced that it was going to develop a platform capable of "simultaneously support public, private and consortium blockchains."

The fact that China may have big plans with blockchain, despite the ban imposed last year on crypto trading, became clear at the end of May, when Xi Jinping admitted that the blockchain has potential, for the first time publicly supported the developing technology .

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   56

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.