Binance Smart Chains to introduce gas burning mechanism like Ethereum for increasing value of tokens
Bitcoin price skyrocketed to USD 67,803 and Ether price has gone up to USD 4,825 in the Asian trade market. Both cryptocurrencies have more than doubled since June and added nearly 70 per cent against the dollar since the start of October. While Bitcoin has a market capitalisation of USD 1 trillion, Ether is the second-biggest cryptocurrency by market value, the Reuters report said. Also Read - Diwali, Dhanteras Investment Tips: Check Top Cryptocurrencies Other Than Bitcoin
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New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
Miners’ work periodically creates new copies of the blockchain, adding recent, previously unverified transactions that aren’t included in any previous blockchain copy — effectively completing those transactions.
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One follower recommended meme coin Dogecoin, in response to which Karony said that he is also a fan and they are “working on implementation.” Others requested stablecoin Tether, while yet another follower requested a feature that warns users if they are about to transfer funds to “flagged scam BSC or ETH addresses.”
A feature of the Ethereum network is that it enables its users to create decentralised apps, known as ’dapps’, and smart contracts.
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Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to a while back. This is just one of the signs that Safemoon is in deep trouble.
Safemoon is one such smart contract-based token. It does not have its own blockchain; its supply is managed by a smart contract on Binance’s in-house blockchain.
Some speculated the Chinese giant had missed its loan payments, however, Bloomberg reported it paid delayed interest on at least two loans to avoid a default.
On Tuesday 9 November, Bitcoin’s price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.
Binance uses a tiered fee structure, which clearly shows how much customers will pay in trading fees based upon their level.