SONO reveals the preparation for a Hard Fork

Current state of SONO is swamped with bugs and issues so a Hard Fork is scheduled on June 20
15 June 2018   937

SONO 1.3.0.2 has a lot of problems so a Hard Fork is scheduled on June 20. Simultaneously, a Coin Swap is planned for June 18. A migration from he current blockchain to a new one will performed. The rate of the swap is set at 1:1 and will last for 30 days. The new token is going to be SONO 2.0.

The Hard Fork will result in a reduction of PoW and PoS reward to 0.01 SONO/%. The new SONO 2.0 will be running with its own mining algorithm SonoA. A new set of specification is also on the agenda, i.e.:

  • block time reduction down to 30 seconds per block;
  • PoW reward is changed to 1 coin per block to address hyperinflation

SONO is a cryptocurrency project that is focused on building a complete ecosystem to allow users to obtain and spend their coins on official services. At the moment of publication, SONO market parameters are as follows:

Average price 0.321124 USD
Volume (24H) 6,489 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   333

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.