Roundup – 06/11/2018 – Unknown Token Makes up Large Part of Gas Activity on Ethereum Blockchain

Unknown Token Makes up Large Part of Gas Activity on Ethereum Blockchain

An unknown token is responsible for driving up the gas price on the Ethereum network. The token is called Omniscience Dedication Financial. The holder address sends out various amounts of ODF to addresses. According to the Gas monitoring website ETHgasstation.info, The token accounts currently for more than 12% of the total gas used. There is a lot of speculation regarding this ominous token. People have linked the token to a company with the same name. However, their website does not indicate that it has released any product that includes a blockchain. The Ethereum community speculates whether the token is a legit project, just a test or even an attempt to harm the Ethereum blockchain.

HSBC Unveils Blockchain-Powered Payment System For India

Britain’s HSBC Bank has transacted the first international payment service in India. The award-winning Bank used Blockchain technology to construct a secure platform for proffering issuance of electronic bills of lading and letters of credit. In this particular case, HSBC executed an export deal between the Mukesh Ambani that is part of the Reliance Industries of India which was the exporter, and an American importer- Tricon Energy. The transaction was smooth and seamless which has created confidence that the network will be sufficient and beneficial to export and import business.

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Venezuela Supreme Court Recognize Petro Cryptocurrency as a Legal Tender

Venezuela Supreme Court has ordered compensation in a workplace injury case to be done using petro cryptocurrency. Since its introduction in the country, Petro has gained a massive traction with more Venezuelans preferring using it instead of the fiat currency that is current lowly priced. Local newspapers and media houses also reported that the government has put in place a petro savings plans that is hinged on digital currency worth approximately 4 million.

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