Poloniex requires verification of legacy accounts

The exchange advises to verify legacy account to avoid any potential interruptions in ability to trade on the platform
28 December 2017   2161

Yesterday the Poloniex cryptocurrency exchange announced that the exchange will soon require legacy accounts to become verified through the latest version of its verification portal.

The exact date for this deadline will be announced in Q1 2018, but the exchange advises to verify legacy account now to avoid any potential interruptions in ability to trade on the platform.

On the date of the deadline, legacy accounts will be placed in a state where:

  • Trading and lending will be disabled;
  • Open orders will be closed;
  • Loans will have auto-renew switched off;
  • Margin positions will be given an 8 week wind-down period where they can only be diminished or closed. After the 8 week wind-down period, they will be closed;
  • Deposit addresses will be revoked. Any deposits sent to a revoked address will not be recoverable until the account is fully verified;
  • Withdrawals will remain enabled at the daily withdrawal limits prior to the deadline.

It is stated that right after legacy accounts will be verified full functionality will be restored and daily withdrawal limit will be increased to $25K USD equivalent.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   79

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.