Class Action Update – Legitimate Cryptocurrencies Are Resistant To Censorship

Maheen Hernandez By Maheen Hernandez March 3, 2019 Off
crypto legitimacy

Vitalik Buterin, the creator of Ethereum, stated that “BTC is like a Calculator, ETC is like a smartphone.”

While elaborating on his Analogy, he implied thus:  “Think of how you can differentiate between the pocket calculator and smartphone, where a pocket calculator will do one thing, and it will do it well, but really, people want to do several other things.  If you do own a smartphone, then you can have the pocket calculator as an app, you can have a music player as an app, you can have a web browser as an app, and almost everything else.

  So basically, with the same kind of idea increasing the power of the system thereby making it more general purpose and applying it to blockchains.”

Jake Chervinsky tweeted about the status of the Ripple securities class action update thus: “The Court has denied the plaintiffs’ motions to remand. This means the case stays in federal court, a minor but meaningful victory for Ripple.”

The accusation in the lawsuit is that Ripple has sold XRP as unregistered security.  It was expected that the corporate defendants would get a very sympathetic treatment.  The plaintiffs are expected to file an Amended Consolidated Complaint by March 30, 2019.

The cryptocurrency market is being led by Twitter accounts and the followers for the different cryptocurrencies in terms of the numbers of followers and their sentiments and perceptions about the market; TRON led by Justin Sun, Ethereum by Vitalik Buterin, Litecoin by Charlie Lee, Bitcoin Cash by Roger Ver, Bitcoin by Andreas M. Antonopoulos, Binance Coin by Changpeng Zhao, Ripple by Brad Garlinghouse, Cardano by Charles Hoskinson, Monero by Riccardo Spagni, Bitcoin SV Craig Wright, Zcash Zooko Wilcox – O’Hearn, NEO by Da Hongfei, IOTA by David Sonstebo, Stellar by Jed McCaleb, EOS by Brendan Blumer, NEM by Alexandra Tinsman, Dash by Ryan Taylor, Maker by Rune Christensen, Ethereum Classic Tether are the important recognizable faces in the cryptocurrency market.

The roadmap of Cardano states that they are making changes to the Byron in the preload stage and after the corrections are done, the move will be towards the Shelly.

Every cryptocurrency has a role and protocol model that they uniquely follow.  And, every cryptocurrency made their entry into the market with a hype.  However, the truth is in the middle. Most coins are working their way away from the hype, and they are dealing with the reality phase.

Legitimate cryptocurrencies are resistant to censorship “If you are a political dissident…yay. Someone in Venezuela is trying to get their money out…yay if you are a gambler…yay. If you are a weed enthusiast…yay,” According to Buterin.