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3 Latest Blockchain and Crypto-Related Announcements That You Should Know

This article talks about the 3 latest announcements related to Blockchain and crypto space that every Blockchain enthusiast must know.  Table of Contents  Overview Latest News and Announcements This Week New Kind of Network(NKN) Price Rallied to a New All-Time High  Indian Tech Giant’ Tech Mahindra’ to Launch Stablecoin Tool for Banks India’s Largest Cryptocurrency … Read More

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WazirX Exchange Experiences Outage With Users Reporting “0” Funds

WazirX stands as one of the heavyweight crypto exchanges within the Indian subcontinent, and has recently seen significant levels of disruptions caused by system failures. For over four hours on Sunday, the exchange suffered an outage in services. Reaching Internal Limits Nischal Shetty gave out a tweet about the matter during the outage, declaring that WazirX had reached an internal limit set out by one of the exchange’s infrastructure providers. This extraordinary load has a ripple effect on all other services as a result, which ultimately resulted in a portion of the exchange’s user base, 1.8 million in total, being…

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Users of top Indian crypto exchange report seeing ‘0’ funds during outage

"The load on our systems are way too much," said CEO Nischal Shetty. Major Indian crypto exchange WazirX experienced disruptions caused by system failures for more than four hours Sunday.  In a tweet at 5:24 PM UTC, WazirX CEO Nischal Shetty reported that the crypto exchange had “hit some internal limits” set by one of the infrastructure providers. The load on Wazir’s system reportedly created “a ripple effect on all the services,” causing some of the exchange’s 1.8 million users to report being unable to see any funds in their accounts during the outage. “It’s because parts of the system…

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Blockchain is Creating New Career Option Due to Cryptocurrency Hype

As the crypto industry is gaining traction, the technology behind it has the potential to create more jobs for young professionals. Leading crypto startups see promise in this industry in India where several people have been laid off and many new professionals will be looking at a renewed career path. Crypto startups leading the industry Indian crypto startups like WazirX, CoinDCX, and CoinSwitch claim that blockchain and cryptocurrencies could become promising career options for students as well as professionals who were laid off during the pandemic. The industry experienced a shock when the Reserve Bank of India closed off all…

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Mumbai-Based WazirX Exchange Announces DeFi Project With Matic

The Mumbai-based crypto exchange WazirX which is one of the biggest in India announced it will be developing a decentralized finance product in partnership with Matic, the popular blockchain scalability platform as we are reading more in the latest blockchain news. The subsidiary of Binance explained in a blog post:  “We are launching an automated market maker (AMM) protocol and partnering with Matic Network to launch the protocol.” The automated market makers are basically algorithmic agents that make it quite easy to list and exchange cryptocurrencies without the help of an order book. AMM-based exchanges like Uniswap, enable running of…

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Indian Crypto Exchange WazirX to Enter DeFi Amid Uncertain Regulations

Indian crypto exchange WazirX plans to attract current users and institutional investors with its market maker protocol. One of the leading cryptocurrency exchanges in India, WazirX, today said they are gearing up to develop and launch their first decentralized finance product in partnership with the Matic network.In an announcement shared with Cointelegraph, the company said they will launch an automated market maker (AMM) protocol. Nischal Shetty, the CEO of WazirX, shared that the product was currently under development, and they plan to launch a testnet version by the end of September this year.An automated market maker protocol is a form…

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Bitcoin Tops $11,000 Reigniting Interest in India

A resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading. A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing with cryptocurrency exchanges. The ban was imposed by the Reserve Bank of India (RBI) in April 2018. Nischal Shetty, founder and CEO of Wazirx, a cryptocurrency exchange in India, says they are witnessing a renewed excitement. Shetty said bitcoin’s price, which breached the $11,000 mark on Tuesday, resulted in Wazirx “seeing a big jump in…

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