Co-Founder of MyEtherWallet.com (MEW) Taylor Monahan has announced a new wallet company called MyCrypto.com. MyCrypto is initially a forked version of MEW, but the company said it will launch an enhanced version of the website soon. Desktop and mobile apps are set to arrive in the next few months.
For those loyal to MEW do not fear, Co-Founder Kosala “Kvhnuke” Hemachandra remains committed to the product. He retains access to its GitHub repository, domain, and AWS instances.
Co-Founder Taylor Monahan said in a post:
“MyEtherWallet will continue to be online until it, for whatever reason, is not online. As we do for a number of products in this space, if we at any point determine the domain to be compromised, serving malicious code, or otherwise detrimental to the community, we will do what we can to warn the community and prevent use of that codebase and website. However, we wish the best for MyEtherWallet and hope it continues to be a viable product in this space.”
While exact details of the split are unclear, it seems the two just had different visions of the path forward.
Monahan goes on to say in the full statement:
“MyEtherWallet LLC was sufficient for the early stages of growth. MyCrypto is designed with next-level scaling in mind from the beginning. The team assembled over the past 9 months and Taylor will now be building, providing support, educating, and ensuring the security of https://mycrypto.com and all future products.”
What does this mean for the Crypto-Community?
In an open letter to the community they state:
We will continue to do our best to help folks who have questions and need help, regardless of the product they are using, even if those products are not technically what the MyCrypto support box was designed for. Just as we have always attempted to answer questions and give guidance about specific tokens, other exchanges, other wallets, we will continue doing so for MEW.
The people who have helped you over the years via email or Twitter or Facebook or Skype or Slack or Reddit or Github will remain the same. However, these people will now be reachable via https://support.mycrypto.com/, [email protected] and the new social media platforms:
- Twitter: https://twitter.com/mycrypto
- Medium: https://medium.com/@mycrypto
- Github: https://github.com/MyCryptoHQ
- Help & Support: https://support.mycrypto.com
- Facebook: https://www.facebook.com/MyCryptoHQ
The new react & typescript codebase has been audited. Pending a few minor updates, public beta testing will commence in the coming weeks. This codebase will eventually serve live to https://mycrypto.com. We aim to launch desktop apps and then mobile apps in the coming months.
Until we are confident in the stability & usability of the new codebase, a forked version of the current version of MEW will continue to be maintained and improved on https://mycrypto.com.
Though the details of the split may not be clear, one thing is for sure the crypto-community has benefited from the introduction of MEW and will continue to do so. But for those looking for another great option, the Mycrypto team promises to bring innovation, reliability, and security for Ethereum (ETH) users.
Have you prepared for the Tron TRX Mainnet Launch?
What you need to know to prepare for the Tron public blockchain migration
Tron (TRX) is currently in the process of moving from the Ethereum Blockchain to their very own independent Blockchain, which is a very big step in the progression of their platform. As of May 31, 2018 the Tron Foundation officially launched the “Mainnet” migration from ERC-20 to the TRX-20 Token but will reach a significant milestone on June 25th when the Tron network will be functioning on its own and will no longer rely on the Ethereum Blockchain to support its transactions and smart contracts.
It is important to note that all Tron coin transactions will be frozen from June 22nd to June 24th and the main net will officially become independent on June 25th, 2018.
Is your Tron safe?
In short, Yes. If your Tron is sitting in a reputable exchange like Binance, Bitfinex or Bittrex for example (See the list below for all currently supported exchanges) then your your Tron will automatically be updated from the old ERC-20 token to the new TRX-20 standard token.
If you are unable to withdraw your TRX from the www.tron.network site, you can contact TRON token holder support to submit a request for withdrawal. This support system will be available until December 31, 2018.
What does all of this mean for you?
If you have your Tron sitting on an exchange that does not support the TRX Mainnet then you will need to transfer your token into a exchange that does support the migration in order to swap from ERC20 to official TRX20. (List of exchanges below)
If you have your Tron sitting on a secure wallet or online wallet then you will need to transfer it back into one of many specific exchanges in order to have your Tron converted from ERC-20 to TRX-20. (List of exchanges below)
NOTE: the coin swap will be a 1:1 ratio so you will still have the exact same amount of Tron that you did before.
Exchanges that currently support the new Tron TRX-20 Token
Bitbns, Bit-Z, Bibox, Binance, LBank, Bitfinex, BitoPro, BitForex, Bitthumb, Bitkop, Bittrex, Bixin, Bitpie, Coinegg, Liqui, Coinnest, Coinrain, Cointiger, Dragronex, gate.io, Huobi, Lbank.io, Liqui, OEX, Okex, OTCBTC, RightBTC, Upbit, Zebpay, WazirX
Not Many Good Grades For Cryptos
One ratings agency is applying grades to some cryptocurrencies and, for the most part, this is not a report card to be posted on your parents’ refrigerator.
Weiss Ratings, an independent ratings agency that assigns letter grades to about 55,000 institutions and investments, including nearly all of the nation’s insurance companies, banks, credit unions, stocks, ETFs and mutual funds, recently published grades on 93 digital currencies. That is a small slice of the overall alt-coin universe, which is home to more than 1,500 coins.
In its most recent report, a follow up to its initial grades released in January, Weiss Ratings upgraded bitcoin to a grade of B- from C+.
“Cryptocurrencies do not have to achieve an A grade to merit interest by investors. A ‘B’ or even ‘B-‘ also qualify as the investment rating equivalent to ‘buy.’ At the same time, investors should not be overly alarmed by a ‘C’ rating. It is a passing grade; and for investors, implies the equivalent of ‘hold,’” according to Weiss.
Inside The Grades
Just 14 of the cryptos graded by Weiss landed grades of B or B- while 54 received C ratings. Among those in the B category are EOS, ADA and DCR. Those with B- ratings include bitcoin, ethereum, IOTA, Ripple and STEEM, among others.
Among the well-known cryptos in the Weiss C category are bitcoin cash, dogecoin, litecoin and siacoin, among others.
“The new world of cryptocurrencies has delivered astonishing profits to investors and holds great promise for the future,” according to Weiss. “Millions of new investors have rushed in. Hundreds of self-declared experts have appeared to advise them. But the market suffers from lax standards, murky operators, marketing hype, and periodic market crashes. It desperately needs the clarity that only robust, impartial ratings can provide.”
The ratings agency offered a fair view of bitcoin.
“Bitcoin (rated C+) gets excellent scores for security and widespread adoption,” said Weiss. “But it is encountering major network bottlenecks, causing delays and high transactions costs. Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”
CME Launches Ethereum Indexes
CME Group, one of the largest exchange operators in the U.S., said Monday it is launching two indexes based on ethereum. Ethereum is the second-largest digital currency behind bitcoin.
On Monday, CME “launched the CME CF Ether-Dollar Reference Rate (Ether Reference Rate), which will provide a daily benchmark price in U.S. dollars at 4 pm London time, and CME CF Ether-Dollar Real Time Index (Ether Real Time Index), which will allow users access to a real-time Ether price in U.S. dollars,” according to a statement issued by the exchange operator.
CME was the second US-based exchange operator to launch bitcoin futures last December, having done so after debuting indexes based on the cryptocurrency. However, CME said it is focusing on its ethereum indexes for the time being, indicating ether futures are not in the works.
Ethereum prices rose modestly Monday, sending its market value to $73.28 billion, or less than half of that of bitcoin.
The cheapest and most efficient way to obtain Ethereum Classic (ETC) is to first purchase Litecoin or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin.)
More Index Details
“Both the Ether Reference Rate and Ether Real Time Index will be calculated by Crypto Facilities and will be based on transactions and order book activity from two major cryptocurrency exchanges: Kraken and Bitstamp,” according to CME. “The reference rates are available today on CME Group and Crypto Facilities websites and will be distributed on the CME Group Market Data Platform beginning June 4, 2018.”
CME also offers the CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI).
Some market observers derivatives, such as futures, linked to ethereum will become a reality because the interest is there to support those products, but the decision to bring ethereum futures to life could take some time.
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