EIDOS Severely Hampered Eos Network
The eidos mining method continues on the Eos network, skewing the means during which the distributed software is employed. The Eos network, that boasted quite one.6 million accounts, was conjointly among the foremost active in distributed app activity.
However, the image modified since the beginning of november. The eidos mining method conjointly distributed the bots that clad to be the supply of dApp activity on Eos.
The attribute team, at one time associated with Enumivo, has unbroken claiming the token isn't associate attack, however an alternate use case for Eos, aiming at a brand new equilibrium. however groups that needed to use the Eos platform for good contracts and dApps, investment resources, are upset regarding the result of attribute.
The mining of attribute is putt a variable strain on resources, however largely uses up process power on Eos. Currently, attribute uses up the REX machine resource, and raises costs. however the Enumivo team noted matters would improve soon:
The price of attribute is additionally on the increase, once sinking to an occasional of $0.004. At those low rates, attribute managed a rally to $0.005, movement another incentive for additional active mining. The Eos network still marks on top of fifty eight million transactions per day, with the majority transactions causing Eos to the mining good contract, to supply additional attribute.
The commerce volume for attribute is extraordinarily low, around $218,000. however even with the slim commerce, the activity has value the majority resources on Eos.
The attribute activity is predicted to continue within the coming back fourteen months, coinciding with TRON-based simulated mining of the DDOS token.
The worst result for the Eos network is that the indisputable fact that larde, dedicated dApp groups are going away for different platforms. EarnBet has determined it cannot run to scale on the Eos blockchain, and has place up its 30-day notice for a migration:
EOS phratry for currently remains one in all the few dApps with a high user ranking, however high 5 dApps by volume are not any longer dominated by Eos, shows the newest DappRadar report.
Ripple Invests Another $20 Million in XRP User MoneyGram
MoneyGram International ("MoneyGram"), one in all the world's largest cash transfer corporations, says that Californian FinTech firm Ripple has created another $20 million investment in MoneyGram equity to assist MoneyGram continue increasing the volume and use of Ripple's XRP-powered product "On-Demand Liquidity" (ODL).
Ripple announced on June seventeen that it had entered into a strategic partnership with MoneyGram. in keeping with the terms of this deal, Ripple would create associate initial investment of $30 million in MoneyGram by getting shares at a value of $4.10 per share (or roughly 3 times the market value). throughout succeeding 2 years, MoneyGram had the choice to create Ripple invest another $20 million (again, paying $4.10 per share).
Well, on weekday (November 25), MoneyGram proclaimed that Ripple had "made the final $20 million investment in MoneyGram equity", with Ripple paying $4.10 per share for the newly-issued MoneyGram equity; MoneyGram common stock (ticker: MGI) closed at $3.00 on Gregorian calendar month twenty five.
This latest investment by Ripple implies that Ripple can "own nine.95 p.c of the outstanding ordinary shares of MoneyGram, and just about fifteen p.c on a fully-diluted basis together with non-voting warrants command by Ripple."
MoneyGram conjointly aforesaid in its press release that this funding "will support MoneyGram's operations because the company continues to extend volume and use of On-Demand Liquidity, Ripple's product that leverages the digital quality XRP to send cash globally, instantly and faithfully for fractions of a penny. "
Alex Holmes, MoneyGram Chairman and business executive, had this to say:
"Our partnership with Ripple is transformative for each the normal cash transfer and digital quality business - for the primary time ever, we're subsiding currencies in seconds. this first success encourages United States to expedite increasing our use of On-Demand Liquidity. Partnerships with corporations like Ripple support innovation and permit United States to take a position in making higher client experiences. I anticipate furthering our growth into new corridors and exploring new product and services."
According to a blog post by Ripple on Gregorian calendar month eight, on day 2 of the two-day Swell 2019 conference (November 7–8) in Singapore, Holmes talked to Ripple business executive Brad Garlinghouse regarding MoneyGram's expertise with mistreatment Ripple's ODL product for cross-border transactions.
First, Holmes talked regarding the worldwide remission market:
"What has stunned Maine the foremost is that the quantity of pressure that inheritance players face.The fundamental challenge of moving cash round the world is that there isn’t loads of coordination between money establishments and there ought to be additional solutions to attach all of those items. additional and more corporations are wanting to form the economy move love it ought to."
Next, the MoneyGram business executive talked regarding however his company's innovations science laboratory helps MoneyGram explore the employment of rising technologies for up the company's services:
"We’re migrating our inheritance systems to the cloud and searching at however we are able to use blockchain distributed ledger technology to enhance our core systems."
His most attention-grabbing comments although were regarding Ripple's ODL product, that uses XRP as a bridge currency for cross-border payments:
"What i like regarding ODL is that we’re utterly at the forefront of this technology … We’re able to settle billions of bucks in seconds. The magic very comes from pairing MoneyGram transactions with Ripple’s ODL."
According to Ripple, the MoneyGram business executive conjointly proclaimed on stage at Swell 2019 that "the company is presently moving 100% of its dealings volume through ODL between the u. s. and Mexican borders and planned to expand into four additional corridors by the tip of this year."
In yesterday's announcement, MoneyGram says that it's "already started transacting in four extra cross-border corridors, including Europe, Australia and the Philippines since the partnership with Ripple was proclaimed in June 2019.
As for Ripple CEO Brad Garlinghouse, he stated:
"Last month, we have a tendency to proclaimed that MoneyGram began mistreatment On-Demand Liquidity for payments to the Philippines, and we're excited to support MoneyGram's more growth into Europe and Australia. Digital assets associated blockchain technology have the potential to form an amazing impact on cross-border payments - MoneyGram and Ripple is an example of that."