Categories: Exchang

Cryptocurrency Exchange OKEx Announces Support for ETC Hard Fork

OKEx warned in the announcement that during the planned period, users should deposit their ETC to OKEx in advance since the exchange will handle related technical issues. Users’ ETC accounts will not be affected.

Cryptocurrency exchange OKEx has announced support for Ethereum Classic’s (ETC) upcoming Atlantis hard fork.

In a blog post published on Sept. 10, OKEx announced that the exchange will support ETC’s hard fork, estimated to take place between Sept. 12 and Sept. 13, 2019 at block height 8,772,000.

OKEx noted that it will resume services once the ETC mainnet is stable.

Aiming to improve functionality

As previously described by Cointelegraph, Atlantis is planned to be a consistent, no-rush update that would ensure compatibility of ETC with Ethereum (ETH), leading to an easier collaboration with sibling blockchains. The hard fork is also expected to improve ETC’s functionality and stability.

Atlantis will purportedly provide wider capabilities for interoperability between blockchains and off-chain scaling protocols. ETC Labs, which actively contributed to the Atlantis project, told Cointelegraph in June:

“The community has had a number of meetings to discuss timing, scope and involvement, and we have decided on the direction and timing of the Atlantis release. So, the decision was made and the community and stakeholders are all moving forward.”

According to the Atlantis hard fork proposal on GitHub, “establishing and maintaining interoperable behavior between Ethereum clients is essential for developers and end-user adoption, yielding benefits for all participating chains (e.g., ETH and ETC, Ropsten and Morden, Görli and Kotti).”

Big questions concerning ETC security

In January, ETC developers were alerted of a possible attack on the network by Chinese blockchain security firm SlowMist, which was relayed to the wider community on Twitter. A tweet from the ETC Twitter handle, which has since been deleted, speculated that testing of new 1,400/Mh ethash machines by application-specific integrated circuit manufacturer Linzhi may have been a potential cause.

Subsequently, Coinbase also detected what it described as a 51% attack. The company then paused all ETC transactions.

Cryptocurrency Exchange Seed CX Cuts Trading Fees to Gain Market Share

Institution-oriented cryptocurrency exchange Seed CX has cut its trading fees to what it claims to be the most competitive levels globally.

Competition heats up in crypto trading space

On Sept 16, the Chicago-based crypto exchange Seed CX announced that it was lowering its trading fees to some of the lowest levels in the industry. The fee cuts follow a week of purported record trading volumes for the exchange, briefly overtaking other top exchanges like Bittrex and the Winklevoss brothers’ Gemini.

Seed CX co-founder and CEO Edward Woodford said that thanks to its aggressive fee schedule and low slippage books, they can “look forward to continuing to lead institutional digital asset trading with best execution, operational support and technology.”

Importance of institutional investors to drive crypto adoption

In February, Seed CX, the only digital asset exchange built exclusively for institutional investors, announced that its trade execution costs on the Seed Digital Commodities Market, a subsidiary of Seed CX, were among the lowest of all digital asset execution venues globally.

Woodford previously stressed the importance of institutional investors and professional traders in the further adoption of digital assets. Woodford noted that Seed CX was poised to bring “large institutional traders, who have so far sat on the sidelines, into the crypto space”, some “for the first time.”

Seed CX subsidiary Zero Hash adds support for derivatives

Cointelegraph reported on Sept. 11, that Zero Hash, a calculation and settlement agent and subsidiary of cryptocurrency platform Seed CX, has added support for derivatives. The newly released service provides collateral management for derivatives, including options such as  “the calculation of variation margin, initial margin and final settlement values … the sending of margin-call notifications.”

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