Your daily distillation of crypto news for Tuesday, January 29, 2019:
Bittrex <> Universal Protocol Alliance
Global blockchain company, trading platform, and wallet provider Bittrex today announced it has joined the Universal Protocol Alliance (UP Alliance), a coalition of blockchain organizations that supports "a universal transparent reserve and custody standard" tied to the Universal Protocol Platform, according to information shared with ETHNews. This platform aims to make all cryptocurrencies convertible on a single network.
In joining the UP Alliance, Bittrex aligns itself with Uphold, Cred, Brave, and Blockchain at Berkeley, all prominent organizations within the cryptospace. Dan Schatt, chairman of the UP Alliance and co-founder of Cred, said the coalition is "actively seeking partners that would like to benefit from" the Universal Protocol Platform.
Fluence Labs Looks at the State of the DApp Ecosystem
A report published today by blockchain data company Fluence Labs provides insight into dApp usage and performance across a variety of projects, many of which started in 2018. Indeed, 72 percent of the projects surveyed formed last year, with only 28 percent having existed for longer.
Some key findings from the report are that 87 percent of dApps surveyed called the Ethereum network home, 63 percent of respondents indicated that they used Infura to connect their dApps to Ethereum, and the largest portion of available dApps went to games – at 27 percent. (The second largest category was a catch-all "other" at 24 percent.) Although these statistics demonstrate the growth of the dApp ecosystem, it's also important to note that 58 percent of the projects surveyed reported fewer than 50 daily active users, while only 12 percent reported more than 500 daily active users.
MLN on the Move
Chief Technology Officer Jenna Zenk of Melonport posted a guide yesterday to help MLN token holders migrate their assets. Starting February 1, there will be a new address for the MLN token contract.
If users' tokens are on an exchange, no action is needed – the exchanges will migrate the MLN themselves. Individuals holding their tokens outside of an exchange must migrate their MLN manually, a process that essentially requires users to call two functions, approve() and transmute(), to pass their assets through a migration contract.
The token migration event precedes the deployment of the watermelon protocol v1.0 to mainnet by the end of February. The migration is meant to accommodate certain mainnet features and inflation.