There are currently over 15 cryptocurrency exchanges in Africa with about five centralized cryptocurrency exchanges in Nigeria. However, among these exchanges. SaBi Exchange happens to be the most advanced centralized Cryptocurrency Exchange. SaBi Exchange was launched 10 March 2019. It was founded by Lucky Uwakwe and Peter Huang. Lucky Uwakwe is a graduate of Nicosia University in Cyprus and has earned a Masters Degree in Cryptocurrency and Blockchain Technology. He is the current Ambassador of Dash Cryptocurrency to Africa, Founder of Cheetah Africa and a citizen of Nigeria.
SaBi Exchange is based in Abuja Nigeria.
The exchange is powered by Huobi Cloud and has the same security and liquidity features as Huobi. SaBi Exchange has partnered with Huobi to deliver outstanding crypto trading services to the region. According to the review from cryptowisser. It has not been able to verify the details of the Huobi partnership with SaBi Exchange and as such investors are advised to read this partnership details with caution. SaBi Exchange allows cryptocurrency deposits and fiat deposits on its platform with limitations.
US citizens aren’t allowed to deposit fiat currency into the platform while some listed countries are allowed to deposit fiat currency. The countries allowed to deposit fiat currency on SaBi includes China, South Korea , Canada, Russia, Britain, India, Australia, Switzerland, Brazil, Taiwan, NewZealand, Singapore, Vietnam, Nethaland, Hongkong, Nigeria, Indonesia, Philippine, Cambodia, Middle-east, Malaysia, Myanmar, Turkey. Fiat deposits through Wire Transfers and Card Deposits are allowed using Qiwi, Paytm, Paynow etc. However, Cryptocurrency deposits are allowed by users worldwide.
Trades And Fees
Aside from the normal trade features, SaBi offers four types of trades. They include OTC-trading, Margin, Exchange and Leveraged Trading. The OTC-trading feature of Huobi Exchange comes under the following currencies—USDT, BTC, ETH and EOS. SaBi Exchange offers 2x to 5x leverage. The leveraged trading features are available on 41 trading pairs out of the 240+ trading pairs available for regular exchange trade. It also offers 0.20% trading fees on both makers and takers which is slightly below the normal 0.25% fee charged by other exchanges worldwide. It charges a withdrawal fee of 0.0005 BTC. The withdrawal exchange fee charge is approximately 40% lower than the global exchange fee charge.
SaBi uses the Huobi security protocol “Huobi Cloud” to secure its platform against hack attempts. It equally shares the Huobi liquidity to ensure a liquid trading platform for its users. The exchange platform boosts of speed and faster transactions on trading of cryptocurrency on its platform. Fiat deposits are available through wire transfer and debit cards with a good security feature ensuring the safety of users account details in Nigeria. Fiat deposit can also come through Paynow, Paytm, Qiwi, IMPS, UPI or Interac e-transfer on the platform. SaBi has developers with over 6 years of experience working with Huobi and Huobi Cloud.
Cardano to Release Version 1.6 of Its Software Product In A Few Days – Charles Hoskinson
We are shipping the version 1.6 update over the next few days tweeted CEO of Cardano Charles Hoskinson. In the tweet, Charles also requested for some “screenshots” of the new Daedalus and users’ comments on the product whether they like it or not.
Praising the team Cardano team, the Charles Hoskinson said lot of work went into this release and he is extremely proud of the team.
Daedalus is an extensive open source cryptocurrency and highly secure wallet for the Ada cryptocurrency.
It is built with web technologies and features unlimited accounting with advanced security.
We are shipping the 1.6 Cardano update over the next few days. Send me some screenshots of the new Daedalus and let me know if you like it. A lot of great work went into this release and I'm extremely proud of the team
— Charles Hoskinson (@IOHK_Charles) August 13, 2019
Charles formerly was worked in Ethereum as a Co-founder is moved to Cardano where he is building ground breaking innovations using blockchain technology.
Cardano according to the IOHK website is a blockchian platform with more advanced features that any protocol yet developed, and the first to evolve out of a scientific philosophy.
Launched in 2017, Cardano is a product of IOHK created using the Haskell code, a technology firm committed to using peer-to-peer innovations to provide financial services to billions of unbanked individuals all over the world.
It prides itself as a decentralized company that loves innovative teams forming and executing ideas that cause “cascading disruption“.
Cardano’s protocol is designed towards protecting privacy rights of users, while also taking into account the needs of regulators. It is the a blockchain platform with more advanced features than any protocol yet developed by a large team of experts engineers and researchers from various field.
Did the Binance Breach Really Occur, And Who is to Blame if it Did?
On August 7, Binance is the world largest cryptocurrency exchange as at today (based on its 24hrs trade volume), was reported to have been hacked. This was said to have occurred when an unscrupulous person had gained access to a massive chunk of the Exchangers Know Your Customer (KYC) data. The hacker was reported to have demanded 300 Bitcoins (which is worth approximately $3.5 million as at the time of this report) after gaining access to about 10,000 personal photos from the Exchanger’s website, threatening to release all the data at his disposal.
It is noteworthy to state that the perpetrator of this hack had set up a couple of dedicated telegram groups where he was said to have allegedly released these sensitive materials. Although the group has since shut down permanently, the Exchanger had taken drastic measures to nail any further moves by other miscreants. However, seeing that there were no digital watermarks, there are no doubts regarding the authenticity of this material. The Binance security team had a follow up with an official statement:
“At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system.”
The CEO of Binance sent out a tweet:
yes, old news, different spin. https://t.co/2B1WdOxqdc
— CZ Binance (@cz_binance) August 7, 2019
The cryptocurrency Exchanger had claimed that all the images that have been released so far could be dated back to February and that this stunt was simply old news with a new spin, a time when the Exchanger was still making use of third party service to be able to provide KYC services. The Exchange had also tried to get the supposed perpetrator to disclose how he gained access to pull off the breach or give any irrefutable evidence to his claims, instead, he simply continued to demand 300BTC which further leads us to believe that this might have just been a bluff
Surveyors Make a Move For the Integration of Blockchain Technology in Real Estates
Professionals in the real estate sector, have begun to make moves to implement the application of the blockchain technology to advance transparency and speed of transaction between clients and practitioners in the field.
According to them, the implementation of this technology would go a long way in enhancing transparency, low level of liquidity in the sector, amongst other benefits.
The blockchain technology also referred to as the decentralised ledger technology (DLT), is characterized by a time-stamped series of an immutable record of data that is managed by so many computers around the world not owned by any single entity. Cryptographic principles are being used to enable the security of each block and data in the system.
Speaking at its Royal Institution of Chartered Surveyors (RICS) Nigeria Group, in their second continuous professional development series titled, ‘Blockchain: The brick & mortar of its growth in today’s world’, the Managing Partner, Blockchain Asset Management, Deji Soetan clearly stated that the blockchain technology being a disruptive technology gradually gaining ground in today’s world presents the real estate sector with limitless possibilities in the real estate sector.
According to a news report by The Guardian, he also made reference to other aspects of the technology, such as smart contracts which could eliminate the cases of frauding of property owners. He said that the technology has created the possibility of linking digital ownership of documents, properties and contracts to the blockchain, laying emphasis on the fact that when all of these have been linked to the blockchain there is no chance of any form of alteration.
Soetan also made mention of the fact that this technology would soon gain notoriety even in the least expected industries. He further explained that transactions on the system are verifiable as every who including those who are part of the network and those who are not can have access to the open ledger and that every transaction can be traced right back to its origin.
“Within the context of payments, introduction of smart contracts into blockchain real estate ledgers and transactions have clear potential in streamlining various real estates processes, such as releasing apartment ownership, or rental documents upon completion of a crypto-currency transfer. One important area where it would be used is in the speed of transaction because nowadays, the process is still slow, making it be so archaic and needs to be modernised”, he said.
EOS Versus TRON, The Dapp War Continues
The world of Decentralised applications (DApps) began with Ethereum. However, it has grown to include more blockchains Networks utilizing smart contracts to build DApps on the blockchain. With over 1,800 listed DApps according to Dappradar.com TRON network and EOS seems to be on a warpath for dominance.
Before we crown the King of DApps, it is important to note that a DApp must have an open source code available to all. A DApp must also be decentralized, incentivized and have an algorithm that generates token or an inbuilt consensus mechanism.
While the battle of supremacy on DApps revolves around TRON and EOS, it is important to note that these blockchains are not so different from each other. Both Tron and EOS started on the Ethereum blockchain as ERC-20 tokens. However after creating their own Mainnet they moved all of their tokens to their own blockchain network.
It is also important to note that both TRON and EOS are built on the delegate Proof of stake mechanism (DPos). The DPos is a mechanism where the selection of block producers will be done by voting. EOS has 21 block producers of which 20 will be selected by top 20 received votes and 1 will be randomly chosen. On the other hand, TRON has a total of 27 block producers (super representatives) who have to go through voting systems. It is impressive that both blockchains allow its token holders to Vote for their Block producers or Super representatives.
TRON Foundation was created in September 2017 by its CEO Justin Sun and it’s mainnet was launched in June 2018. TRON based network claims to have the capacity of clearing 2000 Transaction per second. However, the TRON network block explorer TronScan reveals that it is currently close to 750 TPS.
On the other hand, EOS is own by Block.One, an open source software publisher. Its white paper was published in 2017 and the open source software was launched on June 1, 2018 by Dan Larimer, who is also the founder and creator of Bitshares and Steem. While EOS has been called the Ethereum Killer, however, it currently processes around 4000 Transactions per second.
According to TPS, EOS is winning the race. Also, in Q2, 2019, EOS has almost 62% DApps active in Q2. Although AnChain, blockchain intelligence firm claims that in Q1, 75% of the traffic from the top 10 gambling dApps on EOS were driven by bad bots. That means about $6 million worth of transaction volume was carried out by bots. TRON’s DApps, on the other hand, had 82% active uses in Q2, 338 out of 412 of all TRON’s DApps were active in Q2.
As at press time, EOS is the top blockchain network with 2,231,299Op activity while TRON is coming 5th with 842,442Op. However, TRON DApp TronBet is taking the lead on DappRadar with more than 3000 users and $6.1 million in its 24hour volume. EOS DApp, Dice, comes after TronBet more than 97,000 users and a 24hour volume of $266,000.
Although there have been whispers on the state of DApps and their relevance, but it is important to note that DApps are pulling their weight in the blockchain sphere. While it will be difficult to name who is King of DApps, there are other Blockchain networks building DApps that are worth keeping an eye on such as Steem, IOST, and TomoChain.
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