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SaBi Exchange Prepares for Ethereum Hard Fork and Upgrade

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:

Dear users,
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.

For example
(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.

Disclaimer:
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.

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Is 2019 the Year of IEOs?

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Fundraising is an  important aspect in businesses and the cryptosphere has seen its fair share. In 2017, the crypto space was abuzz with the fundraising model of Initial coin offerings (ICOs). By 2018, the thrill had died down and it would seem that Initial Exchange Offerings (1EO) are taking over with over 100 IEOs launched.

Similarities Between ICO and IEO

While the ICO and IEO are similar fundraising model there are still different in terms of functionality. The two fundraising models are both tokenized forms of crowdfunding. This means that  offer tokens, in exchange for investors funds. These tokens offered to investors have some utility value that the company aims to provide a service for on their road map.

However, the difference between ICOs and Initial Exchange Offerings is hinged on the fact that in an IEO, the token offering is facilitated by a cryptocurrency exchange on its platform and the exchange will eventually lists it. On the other hand, in an ICO, the company will have to fend for creating everything to sustain its token. Also, Initial Exchange Offering offer investors a unique advantage, unlike the ICO model where a lot of ICO projects did not make it to an exchange, leaving investors with no place to trade the worthless tokens they are stuck with.

The era of ICOs which spanned late-2017 to mid-2018 experienced rapid growth and success. A major factor responsible for the success of the ICO model was the easy access to global investors it offered crypto startups unlike traditional venture funding. One of the factors that lead to the slowth death of ICOs were the alarming number of scam project raising funds and duping investors. In 2017 alone, 80% of the ICOs conducted were scam projects.

Where are We with IEOs?

However, 2019 has seen a remarkable spurt in the growth of Initial Exchange Offerings. In May 2019 alone, more than $1 billion has been raised by IEO projects.  Since the inception of Initial Exchange Offerings, the total global funds raised is over $1.6 billion dollars and remarkably, $1.4 billion of these funds were raised in 2019.

Binance was the first exchange to kick start the age of IEOs. The Binance Launchpad raised $7.4 million while hosting a public sale of BitTorrent tokens. It is amazing to know that Asian Exchanges have dominated the space with European exchanges coming behind. Asides Binance, other major trading platforms on the Exchange offering bandwagon include, Huobi, OKEx, Bittrex, Bitmax, Coineal, KuCoin, Exmarkets, etc.

However, Binance has managed to stay on top of the game with over 400% ROI just in May. It’s most recent Exchange Offering, Elrond (ERD) held earlier this month was selling dis more than 46 times the initial price  within an hour of trading on Binance.

On the other hand, may seem that the initial hype behind this fundraising model is beginning to dwindle with investors getting worried about the utility of the token. According to ICO bench, there are over 40 IEOs conducting their fundraising. While this doesn’t mean that Initial Exchange Offerings are coming to an end, it means that more utility is demanded.

As it is, Exchange offerings as a fundraising model still need to gain solid footing for itself just as ICOs did, however, they are a viable option for fundraising and project launch. It can be safe to say that 2019 is not the age of Initial Exchange Offerings, but the start of the age.

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Can Blockchain Make A Change In Developing Countries Land Registry?

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Can Blockchain Make A Change In Developing Countries Land Registry?

Blockchain is a technology that took the world by storm and has disruptive potential. Just like the internet, blockchain was welcomed with skepticism. Blockchain has been around since 1991, and cryptocurrencies like Bitcoin since 2009 but the world is only now starting to take a firmer hold.

It is projected that by the year 2021, the blockchain market will be valued at $2.3 billion. Most governments will adopt the technology for use in various tasks such as taxes, voting, health care, and land administration.

Land Administration

Developing countries have a hard time keeping accurate records in their land registries. Most countries have poor ledgers, which are prone to tampering, loss, and damage. These land governance issues are a source of land disputes owing to unclear land tenures and ownership.

These disputes mean the land is unproductive owing to the wrangles, sometimes dragging on for years. These inconsistencies in registry accuracy and land tenure lead to land grabbing from unscrupulous individuals.

Developing countries’ leaders should strive to catch up with countries that are already far ahead as far as the blockchain technology is concerned. Taiwan’s congressman Jason Hsu is one man who is determined to make sure all legal barriers concerning the technology are removed. He intends to ensure that the citizens are aware of what technology can do for them and better their lives. Hsu in an interview stated that blockchain technology can do very well in developing countries such as Zimbabwe and Venezuela.

Immutable Technology

Blockchain technology has the capacity to solve all the land registry problems for developing countries.in several ways:

  •       Since information is stored via cryptography, it means every item on the blockchain ledger is securely coded with an identifier that is unique and provides tracking capabilities and protection.
  •       Blockchain technology works on based on a consensus. This means if a fresh record is added to the ledger, it has to have real connections to other network nodes for it to be verified. If it has no connection, it cannot be added.
  •       Blockchain’s record storage is distributed. Information can be viewed and added to the ledger by authorized persons. They do not have to rely on a centralized command or an intermediary.

How it works

A blockchain can store online all the necessary information that pertains to property sellers and buyers. It can change the land registry by eliminating the manual steps in the land registries. These steps include verification of information from the land register, contracts with real estate agents, property inspections, and so forth.

 Everyone is able to see alterations made to the ledger and can access the records any time they wish and in real time. With blockchain, they are assured of the data’s immutability and security.

Digitization is critical because it allows hashing, on which cryptography has its basis. Hashing is the conversion of data into a unique text string. Most developing countries use paper-based methods that are a challenge when it comes to updating the information digitally. Any data is hashable, no matter its size or type, and the hash produced by any data is the same length.

Implementation

Implementation of blockchain would mean having to deal with issues created by decades-old poor land governance. It would also need a large investment to ensure the management of this technology. It is not impossible to streamline and digitize a land registry.

Many governments in the developing countries struggle with poor land governance issues, including registry digitization. Most are still far off from implementing the blockchain technology on a larger scale. However, the technology has some potential in areas where they have already succeeded in establishing a good record of title deeds.

The emergence of technology such as GPS, satellite imagery, machine learning, and machine imagery are some good examples of possibilities for completion of land record digitalization. These technological advancements might play a big role in the establishment of blockchain land registries in the future.

Conclusion

Blockchain technology can help to streamline the land registries in developing countries. These land registries largely depend on manual updates. These updates are rarely accurate, are prone to tampering, forgery, and loss.

Digitization of the land registry would be a huge leap towards ensuring that the land titles and tenures are registered to the rightful owners. Disputes arising from land ownership matters would be history. Blockchain technology is immutable. When a change is made, it is permanent and cannot be reversed. The evidence is open for scrutiny and this would build trust between the public and the land registry officials.

Do you share similar views with TechWarn.com? If no what is your take on the topic? Drop your opinions in the comment section!

Disclaimer:
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.

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Blockstack Opens the way for Crypto Startup’s funding via Global Token Sales in a Surprising approval by the SEC

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Blockstack Opens the way for Crypto Startup’s funding via Global Token Sales in a Surprising approval by the SEC

 

In a surprising move which has astonished the crypto, finance and regulatory community, the US based Blockstack which is a decentralized computing network according to its personal description has gotten approval from the Security and Exchange Commission in the United States to carry on a token sale which it is empowered to sell to both accredited and non-accredited investors as well as US and non-US investors.

 

 

This achievement has gathered applauding comments from crypto twitter considering the Commission’s hard-line on the sales of unregistered securities via token sales or ICO. Since the Commission came hard cracking down on illegal and fraudulent token sales, many Startups has been trying play safe while experiencing setbacks as the regulatory climate wasn’t clear for them. The establishment of a functional ETF is still on the commission to fully give a go-ahead to.

https://twitter.com/jchervinsky/status/1149104172182036480

 

Blockstack has in this move paved way for other blockchain and cryptocurrency startups to have a clear direction on how to go about launching sales of government approved tokens to the general public. The Utility Token of the Blockstack project STX will be sold to the investing based on the Regulation A+.

The firm is looking at raising a sum of $28 million via this token sale which anyone who desires to participate will be legally able whether in the United States or elsewhere. A turn around and applause move on the part of the Securities and Exchange Commission on the participation of US citizens on token sales in time past. The sale will commence on the 11th of July, 2019.

 

The year 2017 saw billions of dollars raised via ICOs from both fraudulent projects to non-fraudulent project. All through the year, as the token sale market was booming, so the price of cryptocurrency was booming with Bitcoin touching $20,000 and Ethereum reaching as high as $1300 at it’s peak. However, with ban sweeping across the world from both government and corporations on cryptocurrency activities, the market took a dive in what has been known the longest bear season ever in cryptocurrency lifetime -the Crypto Winter.

 

As the market continues to rage on, with IEOs on one side, the Blockstack news is a welcome development for crypto enthusiasts who cannot wait anymore to enjoy the gains of the ICO era.

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We are not threatened by Libra, We are the only “REAL” Social blockchain- Steemit shades Facebook.

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Steemit the blockchain based social media platform has stated they are not threatened by ww cryptocurrency the Libra. This was made known in Youtube Video by Steemit Head of Communication Andrew Levine. In the same video, Andrew pointed out that the Facebook Libra is a validation of the ingenious idea and decision made over three years ago to build the Steemit social blockchain.

According to tweet, Steemit calls itself the only “REAL” social blockchain thus telling Facebook and everyone that it remains the first ever and only actual social blockchain and that Facebook attempt to get onto the blockchain and cryptocurrency industry is in fact a move out of fear of the disruptive power of the technology.

 Facebook Libra is a validation of Steemit

Comparing Facebook Libra to the Steemit cryptocurrency, Andrew pointed out that the Libra will feature fee charges whereas the Steem cryptocurrency is fast and feeless. The Libra is a centralized cryptocurrency which is will be controlled by massive corporation but the Steem cryptocurrency is one that promotes freedom, privacy etc.

Andrew speaking on the whole Facebook Libra, he said “…because a company as rich as Facebook is afraid of the disruptive potential of this technology that is why they are trying to figure out how to use, not to benefit ordinary people like you are me but themselves, their bottomline and few other massive corporations. But we believe in people that is, we believe in decentralization, we believe in people will see what Facebook is doing and what we are doing and come to the right conclusion about the type of future that you want to be part of.”

 

As the world continues to learn of the incredible ways blockchain technology can be applied to our various everyday activities, products and services to make life easier, Facebook has decided to hop upon the moving train. The decision to get onboard cryptocurrency started in 2018 with the unveiling of its native cryptocurrency and wallet the Libra and Calibra respectively via the Libra whitepaper in the first half of 2019 just few weeks ago. The announcement sparked a significantly felt rally in the price of bitcoin and altcoins with bitcoin crossing upwards to $13,000.

 

While the price of Bitcoin and other cryptocurrency saw a rise, many crypto believers were expressing their concerns with the privacy issues of Facebook and wondering how the social media giant will be able to protect user financial data as it has failed miserably in time past.

 

Steemit is a blockchai based blogging and social media which rewards users with the steemit cryptocurrency for publishing and curating contents. It is a private firm based in New York City and created by Daniel Larimer in 2016. It currently accommodates over one million users.

 

Andrew puts forth a question which everyone will need to answer. With Facebook Libra, “is that really a future people are asking for? What is your answer?

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