1.Coinbase Launches BTC Transaction Batching, Saving Users 50% on Fees
2.Binance America Is Listing Tezos (XTZ) Token for Trading
1.Coinbase Launches BTC Transaction Batching, Saving Users 50% on Fees
Coinbase “US-based Cryptocurrency exchange” has announced the launch of Bitcoin transaction grouping for its customers. The announcement is published by official press statement of coinbase blog post .
This feature allows batching different transactions into one, and in this manner, helps reduce the load on the Bitcoin network. Lower the load, more block space, and lower transaction fees. It will additionally improve the scalability of the Bitcoin Network.
Today Coinbase is rolling out #bitcoin batching. By bundling transactions, Coinbase users may experience network fee savings of more than 50%. Batching also helps free up space on the blockchain and improves Bitcoin scalability for all network users. https://t.co/N6cDnl3nCZ
— Coinbase (@coinbase) March 12, 2020
The exchange stated:-
“Historically, every time a Coinbase customer sent bitcoin, we broadcasted a single on-chain transaction. Starting today, we will be bundling multiple sends into a single transaction — we anticipate that this will reduce our load on the Bitcoin network by more than 50%, and the network fees our customers pay will automatically be reduced by an equivalent amount when sending. “
The exchange also pointed out that with this component, the customers may see a minor delay in communicating a transaction to the network. Be that as it may it won’t impact the time it takes for transactions to be affirmed at the normal rate for customers.
According to CoinMetrics, Average transaction fees on the Bitcoin network are currently around $0.30 per transaction,
The new feature is being turned out for both Coinbase and Coinbase Pro platforms. For Coinbase Pro customers, 100% of network fees as of now secured, so there will be no perceptible changes to the experience.
2.Binance America Is Listing Tezos (XTZ) Token for Trading
Binance America (Binance.US), Binance’s trading platform for its customers in the U.S has announced that it has added support for another crypto asset: Tezos (XTZ). The announcement is published via binance.US blog post on March 15, 2020.
As indicated by an announcement on Binance’s website, Trading in the two new pairs that have been included — XTZ/USD and XTZ/BUSD is due to launch at 06:00 PST (San Francisco time) or 09:00 EST (New York Time) on 16 March 2020. The exchange is presently allowing users to deposit USD, BUSD, or XTZ “to their wallets in preparation for trading to go live.”
Here is the manner by which Binance Info describes Tezos
“Tezos finished one of the biggest ICOs of 2017 bringing nearly $232m up in one day. This was so as to create what the founders imagined as a self amending blockchain that could counter the risk of forks using automatically upheld rules. Tezos is being developed starting from the earliest stage did not depend on any other blockchains.”
“The agreement algorithm on Tezos is Delegated Proof of Stake (dPoS) which will help with the governance structure of the blockchain.Like Ethereum, Tezos will have smart contract functionality which will allow other developers to build decentralised applications (dApps).The decentralised governance of the Tezos blockchain will allow anybody to propose protocol upgrades.”
To deposit and trade USD for XTZ, you will need to pass fiat verification after completing basic and advanced verification. To deposit USD to your account before trading goes live, please set up any of the three USD payment methods available: via debit card, ACH, or wire payment. USD deposits have FDIC insurance coverage.
