Oyster is launching its Mainnet

The Oyster team has delayed the release if the Mainnet due to the technical complications in April and the launch is scheduled on May 29
28 May 2018   2341

Back in April, the Oyster team has decided to postpone the Mainnet launch until May 29. The reason for the delay was due to the fact IOTA did not implement the Tangle features on time. The Tangle is supposed to be the backbone of the Internet-of-Things and provide Swarm Intelligence and sharding for the whole system.

Sharding is essential for the Oyster Mainnet because the Oyster protocol will serve large-scale redundant file storage. As the main Tangle lacked the sharding, the Oyster development moved to a private Tangle. This move resulted in re-architecting the backend already provided by the Oyster testnets.

Oyster is building a unique platform for anonymous decentralized storage and plans to revolutionize the way websites monetize their content. The Oyster Mainnet will involve the use of real funds. At the moment of publication, the Oyster market parameters are as follows:

Average price 0.547023 USD
Market cap 42,649,702 USD
Volume (24H) 548,263 USD

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   247

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.