Poloniex to disable deposits and withdrawals of Bitcoin

Poloniex Exchange's plans to handle potential BTC network disruptions
25 July 2017   4204
Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

A leading cryptocurrency exchange offering a wide variety of digital assets, Poloniex, announces its plans concerning potential Bitcoin network disruptions as there are a number of proposals for technical changes to Bitcoin that may take effect in the coming weeks.

As the team claims, Poloniex takes no position on the desirability of any particular proposal nor does it have a stake in any outcome. As reported, the primary concern is protecting its users and their tokens.

We will be disabling deposits and withdrawals of Bitcoin (and all BTC related tokens) any time we deem necessary to ensure that all tokens stored on Poloniex remain safe.
 

Poloniex Team

The length of any possible downtime is unknown as this is highly dependent on network stability, the team details on its blog. Trading will be unaffected during these periods.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Poloniex also highlights that the exchange cannot commit to supporting any specific blockchain that may emerge if there is a blockchain split. Even if two viable blockchains emerge, Poloniex may or may not support both and will make such a decision only after they are satisfied that they can safely support either blockchain in an enterprise environment.

Another important remark made is that if the exchange decides to support and make available derivative blockchain tokens after a blockchain split, note that if you have your tokens on loan at the time of a split, Poloniex cannot distribute the derivative tokens to you, the lender, as you would not possess them. Such loaned tokens can leave the platform. 

Feedback on Poloniex Exchange TwitterFeedback on Poloniex Exchange Twitter 

The feedback to the announcement is rather ambiguous. Thus, some users are not happy with the status quo, let along the breaking news concerning the disabling deposits and withdrawals of Bitcoin.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   88

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.