WeChat to Ban Bitmain's Account

Bitmain is not the first banneed crypto related account; over 30 accounts have been blocked so far
10 September 2018   1185

The Chinese instant messenger WeChat has blocked accounts related to the sale of Mining equipment from Bitmain and analysis of movements of cryptology, CoinDesk reports.

In particular, on September 10, the official channel of the manufacturer of Bitmain Mining Equipment "antminersale" got to the "black list" of the service.

Following users' complaints, the platform [WeChat] has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has been publishing and distributing information of relevant businesses it is involved in

WeChat Message

However, the second similar to Bitmain account "antminer_official" is still available in WeChat. Representatives of Bitmain declined to comment on the situation.

In addition, the operator of the Goldcoins channel, who previously published analysis and forecasts of the crypto-currency market, reported problems with access to the account. Delphy project's account is under a ban too. This startup which develops an analogue of the market predictions Augur on the Ethereum's blockchain.

In both cases, WeChat named the same reasons for blocking as for the Bitmain account.

Wecchat, originally developed by the Chinese technology giant Tencent, began blocking media accounts related to the cryptocurrencies at the end of August. According to CoinDesk, over 30 accounts have been blocked so far. WeChat has not yet explained the reasons for the ban.

Buterin to Propose to Increase PoS-Validators Reward

According to Vitalik proposal, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%
23 April 2019   90

The creator of Ethereum, Vitalik Buterin, published on GitHub a proposal on changing the reward scheme for validators after the transition of ETH to the Proof-of-Stake consensus mechanism (PoS).

According to the formula proposed by Buterin, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%.

Buterin PoS Validators Reward Proposal
Buterin PoS Validators Reward Proposal

The more assets are fixed for validation, the lower the interest rate. So, 134 217 728 ETH will bring cryptoinvestors only 1.56% per annum. At the same time, the maximum annual emission volume will be 2,097,152 ETH.

Considering that the current volume of Ethereum's market offer is 105,777,585 ETH, this offer is focused on the medium and long term. Buterin also clarified that the profitability indicators are shown without taking into account proceeds from transaction fees. Consequently, the actual income of validators can be several percent higher than the values ​​indicated in the table.

According to Justin Drake, a researcher at the Ethereum Foundation, if after implementing PoS 32 million ETH will be allocated for stacking, the income of validators will be 3.2% per annum. At the same time, the annual emission indicator will be 1% (for comparison, the current indicator of Bitcoin inflation is 3.94%).

In this case, Drake notes that after the activation of EIP 1559 of the funds collected in the form of commissions, will be destroyed. Consequently, with an average gas consumption of each shard of 1000 ETH per year, inflation will drop to 0.5%.

Users left generally positive comments on the offer. However, some of them expressed fears that in the new conditions the exchange may receive significant advantages, which will be able to do stacking at the expense of clients.