After a lot of inconclusive attempts to carry out the constantinople on the ethereum blockchain, plans are back in place to see to its success this time around, as every coin holder gears up for this date with history, Sabi Exchange has taken it upon her self to not only inform her users but also guide them on how best to go about this long awaited etheruem Hard Fork and Upgrade.
In a Press Release by the Exchange team, it clearly states that trading on ethereum will be placed on hold at about 1:00GMT+8, March 1, 2o19. other deatails are found in the letter below:
Ethereum (ETH) will undergo a hard fork & upgrade at the block height of 7,280,000 (expected to happen on March 01, 2019, GMT+8). SaBi exchange and Huobi Global will do the following responses for this upgrade on behalf of there users:
1. Before the hard fork (at 1:00 GMT+8, March 1, 2019), two hours before the fork we will suspend deposits and withdrawals of Ethereum (ETH) and all ERC20 tokens on Sabi.
All relevant tokens can be traded normally during the upgrade. It is recommended that you deposit the tokens in advance to SaBi exchange or Huobi Global, and we will help you with technical problems in the hard fork. Don’t worry.
2. ETH margin trade(where you can borrow more coin than you have to trade) will be suspended to enable us take snapshot of those having ETH on there margin account, and trading will resume after the upgrade is complete and the price is stable. Please pay attention to the announcement in time for the specific recovery time.
3. When the block height reaches 72,800,000, we will take a snapshot of user holdings of ETH on SaBi exchange or Huobi Global.
Accounts on SaBi in scope for the snapshot include
1.) OTC Account
(cash – Crypto)
2.) Exchange Account( crypto – crypto)
3.) Margin Account (you Can borrow more coin than what you have to trade)
4.) Contract Account(for Huobi users, SaBi user will soon enjoy these service too)
If any new coin are created during the Ethereum fork process, SaBi and Huobi Global will distribute those new coin based on snapshot data to their users immediately.
The distribution rules are as follows :
1) OTC Account:
2) Exchange Account
3) Margin Account :
new Coin will be distributed according to the snapshot ETH holding amount in any of these accounts above.
4） HB10: Coin will be distributed to the HB10 users proportionate to their ETH component coins.
Note You do not need to be technical to prepare for Ethereum hard fork
You do not need to miss out of the free coin from ethereum in case, if a new coin is created from the ETH fork.
In the past most users have not been rewarded by there exchange, after coins fork, even though the exchange get the new coin because of users holding, they mostly refuse to give there users back the new coin.
(a) Bitcoin cash fork to BSV
(b) Monero fork
(c) Litecoin fork
(d) Zcash fork
(e) Bitcoin fork to BCH
(f) Bitcoin fork bitcoin Diamond
(g) bitcoin fork to bitcoin gold
(h) tezoz fork
And many more fork took place in 2017 & 2018 but most users never got the rewards of all the new fork coin, from there various exchange, instead there exchange took all the new coin from them and made profit, without giving there users both the original coin and the newly fork coin.
SaBi exchange will continue to serve it users with the best standard and practice. We remain the number one market for users to access over 240+ crypto pairs
1) sell or buy with naira against crypto(Cash-crypto )
2) You can also trade with crypto-crypto all in one place over 240+ pair
3) powered by the third biggest exchange by volume in the world Huobi
4) on SaBi Trade with no deposit fee, it free to deposit, no charges, what you deposit is what you see no reduction of your coin after you deposit on SaBi
5) trade with less charge. Naira -crypto and crypto – crypto All in one place with 240+ pair and you cut down your, withdrawal fee, maker/taker fee, transaction fee and deposit fee from multiple exchange
6) share market liquidity with the best and top exchange. like Huobi, binance, Bitmama, bittrex and you can now trade with naira with other users globally on the OTC section of SaBi
7) Avoid taking risk off opening, maintaining, transferring, depositing and withdrawal from one exchange to another just to sell or buy with cash or trading crypto to crypto in many different exchange.
8) save your time, your money and reduce risk of losing or depleting your coin when you have to transfer, withdraw or deposit from one exchange to another, its better you do it in one place. Since you have access to over 240+ pair of crypto in one place and you can sell or buy with cash still in the same platform
9) No more having many password because of multiple exchanges to do cryptocurrency
10) SaBi Team members and Technical Headquarters office in Nigeria, Singapore, Japan, Canada and China.
11) Protected by DDos Attack with privately built servers just for SaBi and Huobi Global businesses
12) leveraging from 6 years experience in business of Exchange, FinTech and blockchain service and wall Street , serving customers across the globe with local offices in 22 countries which is powered by Huobi.
13) SaBi team is driving growth with African government, as we have become part of some Blockchain sandbox, with engagement from Nigeria SEC, CBN and relevant authority .
10) SaBi will be lead by one of Africa most respected sought out speaker on blockchain and digital currency- Lucky Uwakwe.
A recent interview with the David Chen on cryptotvplus
14) SaBi will be having a Grand get together soon with it users in the Community.
15) SaBi is powered by Huobi with a global clean track record, no history of hack and one of the oldest in the space since 2013, the only blockchain company to be listed in any world stock exchange market, Hong Kong stock exchange, as at 2018.
Huobi does a 24 hours trade volume of $1 billion dollars. we are backed with the best technical and technology support, we also leverage on backup funds to protect our users in any situation.
We are opening Africa with the rest of the world. Stay tuned for more updates.
Do you have any questions or comments? Do drop them in the comment section and we will be glad to attend to them.
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
Charles Hoskinson Defends Cardano From those who doubts its future
Charles Hoskinson, creator of blockchain project, Cardano defends the project from critics and people doubts and undermine the prospect of the project.
Cardano is an open source blockchain platform with its native token, the ADA. Cardano is based on peer reviewed research and was created entirely from scratch as opposed to other platforms that are based on the fork of other blockchains.
In a YouTube AMA session, the creator defended the project saying 200 people are currently working on the platform with 100 specifically focused on ADA, the native cryptocurrency of the Cardano blockchain.
Charles talking about people who doubt the future of the project said “I guess some people would like to pay attention to fake news. They would like to pay attention to the latest sycophant or provocateur of the week, and they don’t seem to understand that these are among the most complicated of protocols to implement.”
The Cardano creator was describing the process of development the blockchain and cryptocurrency, said There is no code we can copy, there is no source base to fork from, and we are doing very hard things.
…We are not missing deadlines, the project is going well […] the credentials and qualifications of our engineers are clear, and it’s clear to see the quality of the software, as evidenced by the fact that 13-year old children in Wyoming were able to get stake nodes running on Raspberry Pis”
The co-founder of Ethereum continued saying “..And when you do very hard things based upon science and it’s new occasionally you have issues.”
Defending himself after a viewer questioned him regarding his employment life, Charles quickly replied he had not been fired many times. Instead he took a buyout with Bitshare because he couldn’t work with Dan Larimer.
Commenting on him leaving Ethereum, the co-founder said, there was a decision to go the profit route or remain non-for profit. Others decided the latter and so, he had to leave.
And not him only, others also left and founded their own companies that are currently competing with the second largest blockchain platform by market capitalization, Ethereum.
Telegram Replies SEC, Telegram Blockchain could be Delayed
Telegram Open Network developers has finally responded to the lawsuit filed by the US Security and Exchange Commission SEC against Telegram Inc and its subsidiary.
In a press release dated 11th October, 2019, the SEC filed a suit against TON and Telegram for allegedly carrying out the sale of unregistered securities to 39 citizens of the United States after an investigation led by SEC’s Daphna A. Waxman et al.
The sale which according to SEC saw the firm raises funds from domestic and foreign investors amounting to over $1.7 billion.
The funds were raised to finance the development of the TON Blockchain which will be launched by the 31st of October, 2019 through the sale of the Gram token
SEC revealed Telegram didn’t seek regulatory approval before the sale of its digital tokens thus Telegram sold unregistered securities in clear violation of the provisions in Security Acts of 1933.
Stephanie Avakian, a Co-director in SEC was quoted saying “We alleged that the defendants have failed to provide investors with information regarding the Gram and Telegram’s business operations, financial condition, risk factors and management that the securities laws require.”
Based on letter sent to investors, Telegram Open Network talked about the situation and possible solutions to the issue.
According to the letter shared to U.Today, the developers revealed they have been in communication with the regulator for a year and a half. They also have received feedback on the TON blockchain.
Commenting on the lawsuit by the SEC, they said“We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the sec’s legal position.”
Speaking on the way forward, the letter reports Telegram saying “We are continuing to evaluate the best means by which to resolve the situation in the interests of relevant parties, including but not limited to assessing whether to seek to delay the launch date.”
Telegram was scheduled to launch it’s blockchain by the end of October, 2019. It could be delayed if SEC and TON cannot find a common ground.
SEC Comes After Telegram’s Token Sale Days after Settling with EOS
The Security and Exchange Commission SEC has filed a temporary restraining order against Telegram Inc and it’s blockchain focused subsidiary TON Issuer Inc.
In a press release dated 11th October, 2019, the SEC announced it also filed an emergency action against both organizations.
The action comes days after the SEC settles the block.one’s EOS blockchain project for school $24 million after raising about $4 billion in a token sale that lasted for a year.
In an investigation conducted by Daphna A. Waxnan, Morgan B. Ward Doran and John O. Enright of the SEC’s Cyber Unit, the action is based on an alleged sale of unregistered, ongoing digital tokens offered to citizens of the United States and overseas which has raised over 1.7 billion dollars.
In January 2018, Telegram commenced it’s token sale to fund the development of its blockchain project, the Telegram Open Network TON which will have its own native cryptocurrency, the GRAM.
Based on the PR by SEC, Telegram and its subsidiary sold about 2.9 billion gram tokens to investors from all over the world.
The sale was made amongst others globally to 39 United States investors with the promise to deliver in the development of the product, the TON Blockchain by the end of the first month of the fourth quarter of 2019.
At the launch, investors held the promise that the gram token will then be available for purchasers on cryotocurrency exchanges.
The complaint was that Telegram didn’t seek regulatory approval before the sale of its digital tokens thus Telegram it’s and the subsidiary sold unregistered securities; in clear violation of the provisions in Security Acts of 1933, reported SEC.
According to Co-director of the SEC’s Division of Enforcement, Stephanie Avakian, the emergency action is to prevent the ‘flooding’ of the United States market with illegally sold digital assets.
She was quoted saying, “We allege that the defendants have failed to provide investors with information regarding Grams and Telegram’s business operations, financial condition, risk factors and management that the securities laws require.”
Another SEC Co-director Steven Peiken said “Telegram seeks to obtain the benefits if s public offering without complying with the long-established disclosure responsibilities designed to protect the investing public.”
Telegram nor its subsidiary has released a response to the action as at Press time.
First of its Kind in Africa: SisiPower to Empower the ‘African Sisi’ with $1m Entrepreneurial Grants and 150m Anion Sanitary Pads to women and the less privileged girl-child in Africa
Sisipower is committed to positioning the African sisi and equipping HER with one of the most trending innovative skills and technology, which is blockchain.
Sanitary pads which is supposed to be readily available and affordable to every girl or young woman in Africa is not. Though we have some sanitary pad brands in the market, it’s just that many of these girls and women can’t afford to buy and use them for their monthly menstrual circle. In order to get these pads, these young women find themselves in despicable situations where they are forced to have sex with the chemist or shop keepers who sells these items. They are also exposed to having sex with any available male in exchange for sanitary pad. So sad that girls have to sell their dignity just to get a paltry sum of money to care for their monthly period.
It is also not new as research shows that many girls especially in public secondary schools miss class during their menstrual period. They do this as a result of the fear of being shamed by boys and girls alike for the blood stains that reflects at the back of their skirts. Not only that, some of these girls, if at all they try to come, end up using unhygienic materials like dirty clothes or tissue papers. And while they are away from school they miss out on academic lessons which affect their overall academic performance and deny them of better future prospects.
A look at our female prisons wards, tales of woes, agony and pains as another worrisome situation is brewing there. In the prisons, we have a situation where about five female inmates have to share one sanitary pad. Thus exposing them to all manners of highly contagious disease and infection.
Some of these girls and women when interviewed say, “we can’t afford to eat three square meals how much more buy a sanitary pad.”
In putting an end to this problem which have skipped the eyes of many, BEEP Foundation, a concerned non-governmental organization launches SISI POWER, a campaign to empower indigent women and girls with 1 million Dollars and 150 million sanitary pads across Africa, though starting from Nigeria.
This cash will be given as business grants to indigent women, after proper training. Also, they shall be mentored by successful business women and the foundation to ensure they make better use of the grants given to them.
For girls, they shall have access to free monthly sanitary pad and access to Blockchain Technology, ICT and life skills training which makes it possible for them not to sell themselves short just for sanitary pads. They will be trained in the following areas; Coding, Mobile App Development, Animation, Digital Marketing, Graphic Designs and other relevant courses that ensure for their self-sustenance, productivity.
With this innovative gesture, BEEP Foundation through the launch of Sisi Power has placed itself at the forefront of poverty eradication, entrepreneurial empowerment of Girls and Women in Africa.
The narrative has to change , Sisipower is committed to positioning the African sisi and equipping HER with one of the most trending innovative skills and technology, which is blockchain. SisiPower leads the way in its application of blockchain technology by enabling acceptance of donations in BMCTokens and made provision for acceptance of a smart contract shared Master-Node Equity reward on the blockchain to support and sustain the vision and mission of sisipower.
Sisi Power is an initiative of Beep Foundation, a foundation geared at providing empowerment and innovative development in Africa.
A few members of the executive team were unveiled at the event.
This launch happened on Saturday, 28th September, 2019, at 10:00am at the ZAAZ Hotels, Ikeja, Lagos.
Find Photos of the event here
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