Hash power marketplace NiceHash has denied it enabled bad actors to use its platform to rent hashrate to launch several 51% on the Ethereum Classic (ETC) blockchain.

Leading stablecoin issuer Tether has revealed its USDT stablecoin is now live on the Solana blockchain. Solana is an “open source project implementing a new, high-performance, permissionless blockchain” that is maintained by the Geneva-based Solana Foundation.

The Centre Consortium’s USDC stablecoin has expanded to the Algorand blockchain, meaning it is now supported on two blockchains, along with Ethereum.

Top stories in the Crypto Roundup today:

• Hash Power Marketplace NiceHash Denies It Enabled 51% Attacks on ETC
• Stablecoin Tether (USDT) Launches on High-Speed Blockchain ‘Solana’
• Centre’s USDC Expands to Algorand Blockchain
• AMPL, SOL, YFI Are Moving the Crypto Market

Hash Power Marketplace NiceHash Denies It Enabled 51% Attacks on ETC

Hash power marketplace NiceHash has denied it enabled bad actors to use its platform to rent hashrate to launch several 51% on the Ethereum Classic (ETC) blockchain.

While in its statement Nicehash admitted that “its hash-power might be abused by the attacker’s pool,” it claims to take the “necessary steps to prevent or help prevent market disruptions, market manipulations, or misuse of the NiceHash hash-power marketplace.” The marketplace’s statement implies it’s ready to work with law enforcement agencies to “ensure that further investigations and undertakings are conducted swiftly and lawfully.”

The statement reads:

“Upon receiving or identifying sufficient evidence of activities violating our Terms of Service, Nicehash takes all the necessary steps to prevent further abuse or misuse of Nicehash Services.”

NiceHash added that it believes that, in order to secure proof-of-work (PoW) blockchain like that of Ethereum Classic, which shares a hashing algorithm with Ethereum, periodically renting hashrate from its marketplace may be a good strategy.

Per its statement, such a blockchain can only become secure if the “price of an attack is higher than the attacker reward.”

Stablecoin Tether (USDT) Launches on High-Speed Blockchain ‘Solana’

Leading stablecoin issuer Tether has revealed its USDT stablecoin is now live on the Solana blockchain. Solana is an “open source project implementing a new, high-performance, permissionless blockchain” that is maintained by the Geneva-based Solana Foundation.

Its protocol was created by Solana Labs, an organization backed by investors such as Multicoin Capital, Slow Ventures, Foundation Capital, 500 Startups, and Abstract Ventures. Anatoly Yakovenko is the creator of Solana and Greg Fitzgerald is its principal architect.

Solana's documentation states that it’s possible for a centralized database  “to process 710,000 transactions per second on a standard gigabit network if the transactions are, on average, no more than 176 bytes.” Its team hopes to one day achieve that theoretical limit, while now Solana can process around 50,000 transactions per second.

Tether is also live on  Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, and Tron.

Centre’s USDC Expands to Algorand Blockchain

The Centre Consortium’s USDC stablecoin has expanded to the Algorand blockchain, meaning it is now supported on two blockchains, along with Ethereum.

According to a statement Centre issued, Algorand will allow users to exchange USDC – the second-largest stablecoin behind USDT – at a speed of 1,000 transactions per second with a transaction fee of 1/20^th of a cent.

Transactions on Algorand are set to be both faster and cheaper than on the Ethereum network, which is currently at its 15 transactions per second capacity, with an average transaction fee of $2.65.

 Centre’s announcement reads:

“As evidenced by the recent and very rapid growth and usage of stablecoins on public chains like Ethereum, there is a tremendous need for blockchain infrastructure that can scale to support significantly higher transaction throughput and lower fees on public Layer 1 blockchain infrastructure.”

The announcement comes roughly two weeks after the release of “USDC 2.0,” an update to the stablecoin that allows services to pay transaction fees on behalf of their users.

AMPL, SOL, YFI Are Moving the Crypto Market

There are several tokens leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos who may have higher percentage changes.

• Ampleforth (AMPL) – Ampleforth’s AMPL token, a digital currency that “adjusts supply daily based on market conditions,” is up over 36.9% over the last 24-hour period, with each token now trading close to $1.
• Solana (SOL) – After seeing Tether's USDT stablecoin launch on its blockchain, Solana’s SOL token has moved sharply up. In the last 24 hours, its price increased 31%, with each token now trading at $3.35.
• Yearn.Finance (YFI) – Yearn.Finance’s YFI token has kept on moving up, gaining 28.6% in the last 24 hours to get close to the $30,000 mark. Yearn.Finance is a yield aggregator for lending platforms that rebalances for the highest yield during contract duration.

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