Recent developments in China have caused the CFX price to start moving upward. The news that China’s largest city, Shanghai, will use Conflux’s blockchain infrastructure to test offshore yuan (CNY) -based stablecoins, has driven altcoin prices Skyrocketing.
Shanghai Blockchain Research Institute ShuTu will promote the application of blockchain technology in the Shanghai Free Trade Zone, including cross-border trade research using stablecoins. The tests to be implemented in this direction will also benefit from the Conflux blockchain infrastructure as stated above. Conflux Network has strategically located its newest R&D center in Shanghai to work closely with key players in the region.
- Aside from these developments, the CFX, which traded at $ 0.27 just a day ago, managed to climb to $ 0.82, its intraday high. This indicates an increase of more than 200 percent.
- Conflux is a public blockchain that connects the Asian and Western economies by enabling the secure flow of assets and data across borders, protocols and applications.
- The CFX, which has gained three-digit percentages following the news release, has given up some of its profits and is trading at $ 0.61 at the time of this writing. Finally, it’s worth noting that the cryptocurrency is still well behind its all-time high ($ 1.70).
US authorities are expanding their investigations into Binance.
The new reports are dedicated to investigating whether Binance allows internal market manipulation. As it became known, the investigations initiated by the CFTC have been expanded – expert of SafeTrading.
Market manipulation investigation.
Binance, the world’s largest cryptocurrency exchange with a lot of binance trading signals in terms of trading volume and user base, appears to be going through an extremely turbulent phase with regulators around the world. The bad news for Binance came with information that the US Commodity Futures Trading Commission (CFTC) will expand its investigations into allegations of market manipulation.
Binance has pulled out due to regulatory compliance and unlicensed transactions in many countries, including the UK, Hong Kong, Malaysia, Japan, Singapore, and Thailand. Due to strong regulatory pressure in the aforementioned countries, Binance has implemented a number of reforms and new initiatives to bring them in line with the rules. Limits on withdrawals were reduced and a tax reporting system was introduced. The exchange has also temporarily suspended or restricted its services in certain regions of the world with stricter rules and verification requirements.
Many influential authorities believe that these allegations of market manipulation by binance trading signals, which will be investigated by US regulators, will be Binance’s biggest test. If these claims are confirmed, it is not difficult to predict that the stock market will face serious problems. US regulators scrutinize the top management of the stock market in accordance with the inside information they receive – expert of SafeTrading.
Binance’s response to claims
Binance issued a harsh statement to deny the allegations. Participants in the exchange noted that security services have established long-standing instructions that investigate any inaccuracies and hold employees accountable.
Binance CEO Changpeng Zhao has so far remained silent and has not commented on the investigation in any way. However, Zhao has often stated in the past that Binance is willing to work with regulators around the world, going so far as to suggest that he step down and move on to a more cohesive leader who can work with regulators.
The Cardano Network (ADA) does not meet the definition of a smart contract!
Cardano (ADA) entered a new phase with the Alonzo update on September 13 at 00:15. The network that has become compatible with smart contracts may not have acquired the functionality that everyone understands. Hoskinson recently stated that applications developed on the Cardano Network (ADA) are far from the usual “smart contract” structure.
Programmable validators instead of smart contracts
Hoskinson suggests the name “Programmable Validators” for the Cardano network. This agenda began with a tweet from IOG developer Matthias Bencourt. Bencourt explained that the Cardano network, which does not function like existing smart contract platforms, is not suitable for “smart contracts,” as everyone perceives.
Many problems have emerged such as concurrency issues, EUTXO and Haskell programming language compatibility for developers. The new agenda for the Cardano Network (ADA) is the concept of smart contracts. Judging by the statements made, popular projects in Ethereum or other smart contract networks will not be able to move to the Cardano network.
Cardano developers looking for useful concurrency solutions are also looking for alternative ways to simplify the Haskell programming language. It looks like the Cardano Network (ADA) will continue to tire projects that want to work with it. But could this negatively affect her growth? Of course it can, but Hoskinson doesn’t think the problem is as serious a flaw as it has been exaggerated on social media – analyst of SafeTrading.
Hoskinson sees no problem
This is not the case for Ethereum or Solana, you can easily run smart contracts on these networks. But when we get to the Cardano Network (ADA), the topic changes. In Cardano, smart contracts refer to a combination of inside network validators and the external code that controls them.
“Programmable Validators” make up the smart contract logic of the Cardano network. We will see what problems this will cause over time, but this question has already begun to darken the minds of people. If this issue adds to the concurrency and Haskell issues, the Cardano Network (ADA) may not be having a better day.
There are two leading networks in smart contracts. Of course, this is Ethereum and Solana, there are many projects working on these networks. Cardano (ADA), on the other hand, was unable to leverage the power of DeFi and was largely late. However, Hoskinson does not see the delay as a serious problem and hopes to gain significant market share over time.