Every day in the crypto and blockchain world is an interesting one. Last day was nothing short. Here are all the major happenings of the crypto world that you need to know.
Kik Plans to Leave the Ethereum Ecosystem
Kik is a messaging application that employs blockchain technology to revolutionize the way how operations take place in a chat exchange ecosystem. Kik is on its way to launch its own crypto token termed Kin.
Initially, Kik was launched on the ethereum platform with an Initial Coin Offering, but now, the platform has expressed that it will stop its atomic swaps with the network soon. A tool will be presented forward by the platform to take all the kin holdings off of the network run by ethereum.
The plan is to destroy all the ethereum-based kin tokens, although the users have not been given a deadline to make their exchanges as of yet.
Kik has traveled from being completely deployed on ethereum, to using both ethereum and stellar for its operation. Now it aims to fork from stellar to develop its own ecosystem. Kik’s founder and CEO Ted Livingston explained his plans that the platform aims to deploy one Kin on one blockchain network.
Bitcoin Cash Hard Fork
The news of bitcoin cash getting split into two blockchain engulfed the crypto arena largely yesterday. At the time of writing, this split has already happened, and we are now presented forward with two versions of the software, bitcoin ABC and bitcoin SV. Both the versions involve some code changes and block size differences. Which of these will emerge as the dominant chain cannot be predicted as of now. There are chances that one might take over the other, and there are also chances that both will co-exist with each other peacefully, just what bitcoin cash did with bitcoin after hard-forking in 2017. Now, it remains to be seen what ripple effects will this event have on the crypto market as a whole. Will the prices go down, or will they go up, it will be interesting next few days in the crypto arena.
Jihan Wu Still on the Board of Bitmain
Bitmain is one of the leading mining giants in the world of bitcoin. It was recently rumored that its co-CEO, Jihan Wu, had been removed from the board of Bitmain.
All of the fuss arose because of the fact that Bitman owns various entities under the name of Bitmain. Although board changes have been made in firm’s subsidiary Beijing Bitmain, no changes have been made in the board structure of the parent entity.
Bitcoin Price Drop
After staying stable above the mark of $6,000 during the past month, 15th of November also saw bitcoin float around in the range of $5,000. It largely maintained its value around $5,600 and the time of writing, it stands around $5,620 as per CoinMarketCap.