• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, February 3, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

ChangeNOW Enabled XMR Withdrawals During the Hard Fork While the….

August 29, 2022
in Crypto News
Reading Time: 15 mins read
A A
ShareShareShareShareShare

Related articles

Cosmos (ATOM), Helium (HNT) and Orbeon Protocol (ORBN)

February 2, 2023

IOTA used by industry giant to cut energy use and boost local economies in billion-$-market

February 2, 2023

On August 13, Monero (XMR) successfully implemented a non-contentious hard fork at a block height of 2,688,888, enhancing the security and privacy features of the coin. This update introduced Bulletproofs+ algorithm, reducing transaction sizes by 5%-7% and improving verification performance by 5%-7%.

The number of cosigners for ring signature approval has also increased from 11 to 16. With the implementation of view tags, wallet syncs have sped up 30-40%. There were also a number of other upgrades. 

Many popular centralized custodial crypto exchanges announced they would temporarily suspend XMR deposits and withdrawals before the hard fork. For some, withdrawals were the only option, for others, deposits only were offered.

 

Source: Reddit.com 

It was unknown how long the suspension would last, thus causing concerns among the privacy coin users. Most CEXs only renewed withdrawals and deposits on Monday, August 15, 2022. 

Although trading remained unaffected, users smarting from Celsius’ suspension of withdrawals sought out alternatives where both XMR withdrawals and deposits into their wallets remained possible.

ChangeNOW, a non-custodial crypto exchange and processing platform, was among the only options users had, allowing them to exchange XMR for another asset or get Monero for another cryptocurrency directly into their wallets. 

In an interview, Mike Ermolaev, ChangeNOW’s Head of PR, explained how the platform made this possible:

“We didn’t disable XMR because we knew our users needed it, so we wanted to provide seamless access. To be honest, it wasn’t an easy ride because we had to balance out liquidity from reserve exchanges and relied on our own liquidity pool to keep things going. Our partner Cake Wallet also helped us with their liquidity. So basically, we collected liquidity from all corners of pools, entering and exiting different providers’ doors one by one– a true spirit of adventure. It is good to have so many of those doors, as they definitely benefit our users.”

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Polkadot elevates its Web3 interest with LayerZero

Next Post

The Federal Deposit Insurance Corporation (FDIC) Issued Guidance Regarding FDIC Insurance and Crypto Assets – August 2022 #2 | Goodwin

Related Posts

Cosmos (ATOM), Helium (HNT) and Orbeon Protocol (ORBN)

February 2, 2023

Cryptocurrencies have put their bottom if recent gains are anything to go by. While the focus has been on Bitcoin...

IOTA used by industry giant to cut energy use and boost local economies in billion-$-market

February 2, 2023

IOTA-powered crypto wallet EnergieKnip ensures the anonymous collection of consumer data and effective distribution of token rewards. So Far, EnegieKnip...

SEC Under Scrutiny: Congress To Review Regulatory Overreach

February 2, 2023

For several months, the SEC has been under fire for its actions. It was unsuccessful in preventing the FTX from...

Bitcoin Soared to 5-Month High Above $24K Following Fed’s Interest Rate Hike (Market Watch)

February 2, 2023

Although BTC didn’t react at first to the US Fed interest rate spike, the asset went on a roll hours...

Blur discovers a way to avoid being blacklisted by OpenSea

February 2, 2023

Blur, the second-largest NFT marketplace in terms of volume, has discovered a practical method of avoiding being blacklisted by Opensea....

Load More
Next Post

The Federal Deposit Insurance Corporation (FDIC) Issued Guidance Regarding FDIC Insurance and Crypto Assets - August 2022 #2 | Goodwin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

WAX Blockchain Unveils Web3 Masterplan

January 31, 2023

Yuga Labs Facing More Lawsuits Over NFTs

February 1, 2023

Crypto lender Celsius supported its token while insiders benefited, according to a US bankruptcy examiner

February 1, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Kraken closes Abu Dhabi office; Bithumb owner arrested
  • Defiance ETFs to Close NFTZ ETF After Just 13 Months
  • Bitcoin Price Heading Back Towards $24,000 – Did Wednesday’s Liquidity Grab Give It The Boost It Needed?

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,594.00-0.72%
  • ethereumEthereum(ETH)$1,650.050.30%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.03%
  • binancecoinBNB(BNB)$324.642.23%
  • usd-coinUSD Coin(USDC)$1.00-0.01%
  • rippleXRP(XRP)$0.411713-0.69%
  • binance-usdBinance USD(BUSD)$1.000.14%
  • cardanoCardano(ADA)$0.4024490.79%
  • dogecoinDogecoin(DOGE)$0.091679-3.34%
  • matic-networkPolygon(MATIC)$1.19-1.01%
  • okbOKB(OKB)$39.814.52%
  • solanaSolana(SOL)$24.45-2.61%
  • staked-etherLido Staked Ether(STETH)$1,642.990.24%
  • polkadotPolkadot(DOT)$6.591.63%
  • shiba-inuShiba Inu(SHIB)$0.0000121.79%
  • litecoinLitecoin(LTC)$99.31-1.20%
  • avalanche-2Avalanche(AVAX)$21.310.68%
  • tronTRON(TRX)$0.0642031.22%
  • uniswapUniswap(UNI)$7.195.24%
  • daiDai(DAI)$1.000.03%
  • cosmosCosmos Hub(ATOM)$14.48-3.20%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,556.00-0.88%
  • ToncoinToncoin(TON)$2.38-0.80%
  • chainlinkChainlink(LINK)$7.15-1.12%
  • leo-tokenLEO Token(LEO)$3.360.00%
  • moneroMonero(XMR)$172.93-2.80%
  • ethereum-classicEthereum Classic(ETC)$22.540.51%
  • AptosAptos(APT)$17.19-5.57%
  • bitcoin-cashBitcoin Cash(BCH)$137.311.10%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.092228-0.26%
  • apecoinApeCoin(APE)$5.92-2.50%
  • quant-networkQuant(QNT)$144.74-2.67%
  • nearNEAR Protocol(NEAR)$2.461.47%
  • filecoinFilecoin(FIL)$5.51-4.86%
  • crypto-com-chainCronos(CRO)$0.080807-0.43%
  • lido-daoLido DAO(LDO)$2.28-0.97%
  • algorandAlgorand(ALGO)$0.2579981.91%
  • hedera-hashgraphHedera(HBAR)$0.067626-2.87%
  • vechainVeChain(VET)$0.024289-2.35%
  • fantomFantom(FTM)$0.615.37%
  • internet-computerInternet Computer(ICP)$5.82-4.49%
  • decentralandDecentraland(MANA)$0.79-1.79%
  • axie-infinityAxie Infinity(AXS)$11.29-1.10%
  • aaveAave(AAVE)$88.750.16%
  • the-sandboxThe Sandbox(SAND)$0.75-1.65%
  • eosEOS(EOS)$1.08-0.57%
  • flowFlow(FLOW)$1.12-1.24%
  • elrond-erd-2MultiversX(EGLD)$45.272.00%