Blockchain Bites: Plus Token Ponzi Popped, Cardano Forked and tZERO Cut

Friday 3 July 2020, 3:09 AM AEST - 1 week ago

fork(an_vision/Unsplash, modified using PhotoMosh)

Cardano hard forked to its proof-of-stake network, token platform tZERO cut staff and compensation, and a derivatives exchange is looking to list on Nasdaq.

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Hello, Shelley
Cardano is now running a proof-of-stake consensus mechanism. Announced Wednesday, the open-source smart-contract platform designed to challenge Ethereums lead position, hard-forked from the centralized Byron network into the decentralized Shelley network. IOHK, the lead design firm, said hundreds of assets are expected to run on the blockchain in a years time. The PoS delegation process lets users holding Cardanos native token (ADA) commit their tokens to a pool for a share of rewards. A number of additional upgrades and improvements are expected in the coming months, including a new governance model, Project Catalyst.

Ponzi Popped
Chinese police have arrested all 27 primary suspects thought to be responsible for running the $5.7 billion Plus Token Ponzi scheme. Led by the Ministry of Public Security, Chinas top police force agency, the investigators has also arrested another 82 core members of the scheme in what looks like the first crackdown on an international, crypto Ponzi. The scheme allegedly scammed two million people by using cryptocurrencies including bitcoin as a funding channel.

Public Backdoor
Newly launched derivatives platform is set to become the first publicly traded crypto exchange in the U.S. through a backdoor listing on Nasdaq later this year. Its operator, Hong Kong-based Diginex, announced Thursday it is combining with the Nasdaq-listed Singapores 8i Enterprises Acquisition Co ...

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