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Market Cap $ 498.243 MM (#21)
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BitMEX CEO: “We Don’t Trade Against Our Customers”

BitMEX — “An Opaque Entity” Although BitMEX is one of the crypto market’s most prominent platforms, there is a multitude of industry players that have yet to trust the exchange in full. For those who are unaware, the Seychelles-based, Hong Kong-headquartered platform has become well-known for its margin trading feature, which utilizes a somewhat complicated sequence of insurance funds, peer-to-peer contracts, and other systems to allow traders to leverage their Bitcoin (BTC) 100x. However, over recent months, as the value of crypto assets fell, rumors arose that BitMEX had nefarious intentions. Some conspiracists had connected the dots to claim that the startup, founded in 2014, was willing to undermine its clients to turn a quick buck. One such critic/cynic was Hasu, a pseudonymous self-proclaimed “independent cryptocurrency researcher,” who released a jaw-dropping 13 minute-long Medium post on BitMEX’s potentially shady dealings in late-October that rattled the crypto community. Foul play at BitMEX? Exploring the biggest concernshttps://t.co/yG6sspN1Vg — Hasu (@hasufl) October 22, 2018 Hasu first noted that while the company expresses its love for this industry and technology incessantly, this may be nothing more than a guise or facade, subsequently dubbing BitMEX an “opaque entity that wields disproportionate influence in the industry.” Bringing credence to his inflammatory words, Hasu embarked on a research journey, finding data, people, and documents that supported his theory that the Seychelles-based startup doesn’t have its users at the top of its priority list. Although the article stretched out to over 3,000 words, the following are Hasu’s three primary qualms (which are just speculative guesses) with the platform: They trade against their customers: The platform may be secretly trading against its customers through a market maker, which was just disclosed in April of 2018. Interestingly, after the firm disclosed that it had a market-making desk, which is a “for-profit operation,” it lost its legal counsel. Hasu has claimed that this speculation could implicate that BitMEX is using its entitlement immorally to profit off its user base. The platform “weaponizes their server problems”: A reoccurring theme seen in the BitMEX community is the jokes around the platform’s endless stream of “server overload” prompts. Although they may seem innocent enough, Hasu has claimed that the startup may be giving preferential access to certain traders during periods of overload. The critic also claimed that users can arbitrage and “trigger a chain of liquidations” during an overload, which evidently isn’t right. It “monetizes customer liquidations through their insurance fund”: Due to the leverage system that BitMEX enlists, it requires traders to place marginal holdings into an insurance fund. Although this fund allows for high-leverage trades, Hasu has claimed that the company makes “significant money from liquidations.” Regardless of the specifics of each issue, the cynic came to the following conclusion, which was quick to the punch: But a series of recent issues with the exchange leads me to believe that they have a hard time acting ethically once it gets in their way of making more money. Arthur Hayes: BitMEX Doesn’t Trade Against Its Customers However, CEO Arthur Hayes, who recently called for Bitcoin (BTC) to fall below $2,000 in due time, has claimed that these rumors are baseless and that his firm’s dealings have been misinterpreted. Hayes’ remarks on the matter were conveyed through Yahoo Finance U.K. at an unnamed event in London. https://t.co/prhtgOHpZo — Yahoo Finance UK (@YahooFinanceUK) November 12, 2018 Per the industry leader, its market-making desk “is a customer too. It is treated like any other account.” Hayes added that the desk is “completely secluded from the rest of the employees,” divulging that the independent identity doesn’t have special or preferential access to any insider data. He also noted that BitMEX doesn’t make bank when customers are liquidated or through trading against its users, but rather, through other profit streams. He elaborated: It’s actually pretty bad business model and introduces a lot of risk into what is right now a riskless business model, BitMEX. We match trades, that’s it, we have no risk. Trading against our clients is nonsensical. Touching on the “server overload” issues, Hayes alluded to the fact that an influx of trades on the platform has hampered its server, noting that his firm is doing its best to fix those issues. Last but not least, the CEO, a former Citigroup trader, explained that the insurance fund’s 14,000 Bitcoin (BTC) is a “function of the market.” TItle Image Courtesy of Marco Verch via Flickr The post BitMEX CEO: “We Don’t Trade Against Our Customers” appeared first on Ethereum World News.

6 hours ago

Japanese IT Gaint GMO Internet, Reveals a Boost in Profit From Cryptocurrency Business

The Japanese Technology Giant GMO Internet just published its report for the third quarter. According to the report, the IT company recorded continuous viable performance in its crypto-related businesses. The report revealed that within one year of GMO operation in crypto-related business, like the production of mining equipment and crypto exchange, it has gained 2.6 billion yen, the equivalent of $22.8 million revenue in the third quarter. A few months ago, the IT company launched a live crypto exchange platform GMO coin, which is its third crypto exchange. It is also involved in mining facilities, mining up to 3,000 BTC and more than 660 BCHs, since it started. Before the launch of the live crypto exchange, GMO had been offering two crypto exchanges and trading services. These existing services are brokerage services, which is called, ‘sale office’ and margin trading services, which is also called ‘virtual currency FX’ service. According to the description of the live crypto exchange, users can view all the activities going on from both ends; “On the exchange, all orders are displayed as board information. Since you can see all the [order] quantities...you can trade while seeing the buying and selling demand of investors other than yourself.’’ Though the initial coin services supported digital currencies like BTC, ETH, BCH, LTC, and XRP, the live trading platform supports the only bitcoin. It has a maker fees of 0% and a taker fees of 0.01%, with no withdrawal fees. It also enables traders to buy and sell about 2 BTC in a single order and 1,000 BTC per day. This new platform already has about 208,000 users trading about 89 billion yen, the equivalent of $781 million last month. The profit reported by the IT Company from this platform is about 34.4 percent quarter on quarter (QoQ). Mid this year, GMO Internet launched mining machine, GMO miner B3. Its minimum hash power of 33 TH/s: enables users to maximize hash power consumption in their location. It can make up to 33 trillion hash calculation per second. Features of the GMO Miners - Power supply unit (PSU) * Voltage requirements: 200 V (100-240 V; tentative) - Supports online update of software - Online monitoring of mining operations (with API) - Supports online detection as an anti-theft measure - Automated temperature sensors * Adjust hash rate automatically if the abnormal temperature is detected to prevent the machine from overheating - Customers are able to join the mining pool “GMO POOL” (no initial cost; fee is yet to be decided) - 180-day guarantee period (customers will have to pay for the repair after the warranty is expired) The total hash rate of the GMO mining operations increased to 459 PH/s, in August. A total of 510 BTC and 25 BCH was mined in August, the company also had mined 2,984 BTC and 661 BCH since the launch. A report from the company revealed it is working on increasing the hash rate by December; “Our hash rate has expanded since the end of July since we are establishing more mining facilities; operating the mining machine from other manufacturers...We will continue to introduce the mining machine from other manufacturers to the in-house mining. Our plan is to see our hash rate surpass 800 PH/s by the end of December.” Though the company planned to open more rigs, it has not been able to achieve this because of some electrical issues. “Although the expansion and mining equipment progressed as planned and recorded sales of 1.2 billion yen, mining profitability declined due to deterioration of the macro environment such as stagnation of bitcoin price as well as the increase of hash rate.” The company just changed sticker for its Japanese yen-backed currency, GMO Japanese yen, from GJY to GYEN. It also announced in October that cryptographic stable coin tied to Japanese which is focused on international transactions will be launched in 2019. After Coincheck hack in January, the company was issued a business improvement order by the Japanese financial service agency. This order warrants that GMO should upgrade its quality of services and render a report on its risk management system to the crypto regulation body in the country. GMO Historical Q3 Performance Summary This report shows the performance in Q3. This report shows performance in quarter Quarter 3 This report shows the performance from June to September The report shows the GMO performance in the third quarter and the hindrance they encountered. The post Japanese IT Gaint GMO Internet, Reveals a Boost in Profit From Cryptocurrency Business appeared first on ZyCrypto.

8 hours ago

BitMax.io (BTMX.io) Delivers Pioneering Crypto Trading Services to Benefit its Growing User-Base

BitMax.io (BTMX.io) is the global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients (including institutions, professional traders, and private investors). With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space. With a core management team comprised of experienced executives from Wall Street top-tier institutions, Deutsche Bank, Barclays Capital, Morgan Stanley, and Goldman Sachs, as well as highly skilled technical leaders with academic credentials from top-tier global institutions such as Columbia University, the University of Chicago, and Peking University, the BitMax.io team has attracted strategic investment from top venture capitals including Matrix Partners China, FBG Capital, BitMain, and Danhua Capital. Since its launch on August 13, the platform has registered over 50,000 users across the globe and now boasts 25 active crypto trading pairs, with additional listings under review. Beyond having an institutional-grade platform, an experienced management team led by Wall Street quant trading veterans, and the backing of top-notch VC firms, BitMax.io is also highly user-focused and provides a wide range of client-focused services and benefits for its users. The first of many benefits Bitmax.io provides is record low transaction fees: On October 10th, 2018, Bitmax.io adjusted its trading fees from 0.1% to 0.04%, the lowest transaction fee in the industry. Furthermore, thanks to trading innovations such as transaction-fee based “Trans-Fee Mining,” BitMax.io provides high levels of liquidity while also allowing traders to earn BTMX, BitMax.io native tokens, as an alternate source of exchange income. In addition to the financial benefits of the platform, BitMax.io also provides exceptional infrastructure support and seamless trading experiences, thanks to 24/7 global operations, real-time trade settlement, high trading frequencies, and the fastest transaction rates in the industry at 400k TPS. BitMax.io also features deep and highly liquid order books. Not only is the platform’s infrastructure, mining models, and trading services designed to deliver high liquidity, but also due to the BitMax.io team’s in-depth wealth of experience and resources in the industry, it has been able to strike strategic partnerships with other platforms to deliver unprecedented services to its customers. Two of these partnerships, formed with Indian crypto exchanges Giottuss and Coindelta, will facilitate the sharing of order books across all three exchanges, thereby creating a deeper and a richer user base across the globe and providing users with higher liquidity and security from price fluctuations during trades. The development of industry partnerships, the ability to attract users and strategic investments, and the introduction of innovative mining models that provide traders with alternative sources of income all play in favor of BitMax.io’s future growth and success as a trading platform. As part of its growth, BitMax.io is publishing detailed distribution rules for BTMX tokens that are mined during transaction mining, which are as follows. Distribution rules Since BTMX tokens constitute a new form of utility value on the BitMax.io platform, BTMX token holders who agree to share transaction data will receive further platform benefits as an incentive to continue holding BTMX. BitMax.io will pay users for BTMX usage data, including mining, execution price, and other token circulation information in order to better manage BTMX statistics on the platform. Users who sign up and agree to share their token transaction information with BitMax.io will have 80% of the total platform transaction fee revenue distributed back to them. Furthermore, in order to stabilize the daily distribution rate that is in effect every day, a Data Usage Fee Pool (“the Pool”) will be set up using 80% of net transaction fee revenues. The Pool will redistribute 1/180 of the balance back to BTMX holders. Daily Deposit into the Pool = Daily Net Transaction Fee * 80% Daily Distribution of the Pool = Daily Data Usage Fee Pool Balance / 180 Individual Share of Platform Data Usage Distribution = Daily Distribution of the Pool * (24HR Weighted Average BTMX position / Aggregation of Total User Effective BTMX Position) Daily settlements of data usage fee distribution will start at UTC 00:00 based on the previous 24-hour distribution amount and will be paid into individual user accounts on BitMax.io at UTC 04:00 in the currency in which user transactions were executed. BitMax.io has quickly risen to levels of prominence in the cryptocurrency trading and exchange space. It provides traders with revenue-generating trading models such as transaction mining that differentiates maker vs taker trades, along with user-friendly features

9 hours ago

Podcast Transcript: DDEX Co-Founder Bowen Wang

Checkout our Latest Podcast with DDEX Co-founder Bowen Wang We are delighted to bring you our latest podcast with Bowen Wang, founder and COO of DDEX, a decentralized exchange based out of Beijing. DDEX now accounts for about 75% of the total volume of trades over the 0x Protocol each month and ranks 13% of trades amongst decentralized exchanges, 2nd after IDEX. In this episode, Bowen and I discuss how DDEX operates out of Beijing, how DDEX discovered 0x, Bowen‘s advice on approaching Chinese regulators for blockchain projects, and insights on hiring developers and community members out of China. New DDEX Wallet: Bringing Decentralized Trading To Mobile Basic DDEX trading: DDEX Trading — Getting Started Joyce Yang I’m your host Joyce Yang and our guest today is Bowen Wang, co-founder and CEO of DDEX, a decentralized exchange based out of Beijing. DDEX now accounts for about 75% of the total volume of trades over the 0x protocol each month. In this episode, we discuss how DDEX operates out of Beijing, how DDEX discovered 0x, Bowens advice on approaching Chinese regulators for Blockchain projects and insights on hiring developers and community members out of China. Bowen Wang Hello, this is Bowen Wang from DDEX. I’m the co-founder and CEO of DDEX. I graduated from NYU 2 years ago and before starting the company, I used to work at Zhenfund, which is Sequoia’s early venture firm investing in early stage companies. And back while I was in Zhenfund, I was specifically looking into the Blockchain company and also Blockchain related app company. So I was the first one who actually invested in ImToken and also Lino and also many of the other projects in the Blockchain space. And then we started a friends and family fund by ourselves, and then we discovered that few people hold their tokens long term. They have to have a marketplace to buy and sell. And so over the course of a weekend, we had 3 co-founders come together just trying to build a decentralized exchange in Starbucks. And then we figured out that it’s actually something that’s workable and then we quit our job and put our full hands on it. So then we got the investment from Initialized Capital and also Zhenfund for seed round funding, and we launched it in January 2018. And since then we have been up and running for more than 10 months already and also we have like have aggregating volumes for more than 400 million dollars. Joyce Yang Wow! That’s great. And just to give our listeners a quick understanding, you’re based in China right now with your team. And how big is your team? Bowen Wang So right now we’re based in Beijing. And the Beijing team has more than 25 members. Joyce Yang Wow! That’s quite big. And you grew that from 3 people since raising funding last year essentially. Bowen Wang Yeah, since 12 months ago. Even before like 6 months ago we only had like 8 people. Joyce Yang Yeah, that’s great. Just at a high level, how’s the crypto market in China right now? You kind of see a lot of what’s going on the East as well as in the West, and you are based in Beijing where you know a lot of the government officials and regulations are actually made. If you could give an idea what’s going on and the crypto regulations product, also the Blockchain development front. Bowen Wang Let’s talk about like the government policy. For now, the one top priority for the government is to stop the Fiat entrance for crypto market, which means that you cannot buy Bitcoin or Ethereum from any kind of central exchange just like people in the U.S. use Coinbase. And the reason why is that they want to stop like capital outflow or money laundering activities from a macro perspective, but from a development perspective, there have been really a growing number of developers coming to Ethereum and learning about solidity and there’s many. So like on Coin market cap of the top 100 Tokens, like 30 percent of them are coming from China. So there’s many other new layer-one blockchain teams that are trying to kind of revolutionized EOS or ETH from different architecture like DAG or DPOS. And there are also different like layer 2 protocol, which actually wants to do a scalability solution on Ethereum. And also there are many of the D-Apps coming up like Cryptokitties is in China and also like the U.S. developer community are really huge in Asia and people are developing U.S. wallet US D-App, US gambling game. And also kind of 30 percent of the U.S. Block producers are located in China. And as you all know, Bitmain is in Beijing, most of the majority of the mining pools are located in China and also there’s a huge line of like a manufacturing mining in the middle of nowhere like southeast China and Northeast China in the markets. Joyce Yang So you’re saying that the Blockchain community is very strong from what you’re seeing in China. Bowen Wang I always say it’s substantial, and also Bitmain is looking into IPO in Hong Kong markets either by the end of this year or at the b

9 hours ago

Genesis Vision - TL;DR - 2018/19

**Genesis Vision - TL;DR - 2018/19** **TL;DR version of Genesis Vision - If I have missed anything let me know & I will update!** **Current stats:** * GVT Total Supply - ONLY 4,436,644 tokens * GVT Market Cap - $42 mil * CMC rank - #124 **Best places to stay up to date:** * https://github.com/GenesisVision * https://twitter.com/genesis_vision * https://medium.com/@GenesisVision ---------------------------------------------------- **What we've been treated to so far in 2018:** * Genesis Vision Alpha Version * IPFS Integration * Numerous trading competitions * Launch of Genesis Markets * Launch of the iOS & Android Genesis Vision apps * Live Platform Launch** ~ 30th October * Completely overhauled UI/UX for iOS, Android, Investors & Manager portals * Fresh website for GV & GM **What's left to come in 2018:** * Finance Magnates London Summit ~ See here -> https://www.reddit.com/r/genesisvision/comments/9kzsrd/finance_magnates_london_summit_genesis_vision/ * Genesis Vision Funds ~ November 15th * Forex trading & brokers coming to the platform WITHIN DAYS ~ Source = GVT AMA - https://www.youtube.com/watch?v=BIrVcFr6zUU * Level 3 & above GV managers * Trading via OKEx for GVT fund managers * Trading via Huobi for GVT fund managers * Genesis Vision Market Maker in November for increased liquidity * GV Marketing campaign (we have only seen a little) * Campaign to attract managers & brokers ---------------------------------------------------- **2019 (no official ETA's):** * Chinese promotion** - The platform and all of the reading materials will be translated into Chinese * Integration with decentralized exchanges Idex and Forkdelta: https://blog.genesis.vision/decentralizing-exchanges-turning-ex-into-dex-cbc903d05540 * Genesis Vision DEX * Genesis Vision Network * Fiat Gateway * Bank & Stocks Integration * Potential compliance with SEC for US investors? * Further platform development for GV & Genesis Markets * Further development of all versions of the platform, ie iOS & Android ---------------------------------------------------- **Speculative:** * This is purely speculation. Im confident we will see GVT listed on another exchange in the near future, why? The team will be looking to increase the liquidity of the token and have already built relationships with top exchanges, ie Okex & Huobi. * Highly likely we will see more brokers and big names coming to the platform ---------------------------------------------------- **Current Partnerships:** * Tools4Brokers ~ https://t4b.com * LMAX Digital ~ https://blog.genesis.vision/maxing-out-with-lmax-3cdf3f578c3b * Just2Trade ~ https://blog.genesis.vision/genesis-vision-cooperates-with-just2trade-2ec1bdb4736e * Larson&Holz ~ https://blog.genesis.vision/announcing-our-partnership-with-larson-holz-6b215f25cb78 * Monarch ~ https://twitter.com/Monarchtoken/status/1016857412832129024 * RoboForex ~ https://blog.genesis.vision/genesis-vision-partners-up-with-roboforex-6530209b9916 * Exante ~ https://blog.genesis.vision/partnership-with-exante-6fe9967ec1cc ---------------------------------------------------- **Other info:** * All the managers account balances total to 26,364 $GVT as of 11/11/2018. 0.594% of the total coins. * https://twitter.com/mack_crypto/status/1061668096954355712 * ^ This are the stats for a platform that has launched a little over a week ago, and is already utilizing 0.594% of all of its tokens on the platform. This is WITHOUT Forex implemented, level 3 managers and the numerous brokers which are currently being integrated into the platform. * See my previous post on why GV will be successful based on them becoming a self sufficient platform by creating revenue: https://www.reddit.com/r/genesisvision/comments/9p80ir/genesis_vision_will_soon_become_a_self_sufficient/ * GVT has started get some attention from some of the bigger Crypto Twitter accounts. The word about GVT is slowly spreading. ---------------------------------------------------- **Bullish on GVT. You want reasons why im bullish? Re-read this post**

15 hours ago

BitMax.io Delivers Pioneering Crypto Trading Services to Benefit it’s Growing User-Base

CoinSpeaker BitMax.io Delivers Pioneering Crypto Trading Services to Benefit it’s Growing User-Base With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space.With a core management team comprised of experienced executives from Wall Street top-tier institutions, Deutsche Bank, Barcays Capital, Morgan Stanley, and Goldman Sachs, as well as highly skilled technical leaders with academic credentials from top-tier global institutions such as Columbia University, the University of Chicago, and Peking University, the BitMax.io team has attracted strategic investment from top venture capitals including Matrix Partners China, FBG Capital, BitMain, and Danhua Capital. Since its launch on August 13, the platform has registered over 50,000 users across the globe and now boasts 25 active crypto trading pairs, with additional listings under review. Beyond having an institutional-grade platform, an experienced management team led by Wall Street quant trading veterans, and the backing of top-notch VC firms, BitMax.io is also highly user-focused and provides a wide range of client-focused services and benefits for its users. The first of many benefits Bitmax.io provides is record low transaction fees: On October 10th, 2018, Bitmax.io adjusted its trading fees from 0.1% to 0.04%, the lowest transaction fee in the industry. Furthermore, thanks to trading innovations such as transaction-fee based “Trans-Fee Mining,” BitMax.io provides high levels of liquidity while also allowing traders to earn BTMX, BitMax.io native tokens, as an alternate source of exchange income. In addition to the financial benefits of the platform, BitMax.io also provides exceptional infrastructure support and seamless trading experiences, thanks to 24/7 global operations, real-time trade settlement, high trading frequencies, and the fastest transaction rates in the industry at 400k TPS. BitMax.io also features deep and highly liquid order books. Not only is the platform’s infrastructure, mining models, and trading services designed to deliver high liquidity, but also due to the BitMax.io team’s in-depth wealth of experience and resources in the industry, it has been able to strike strategic partnerships with other platforms to deliver unprecedented services to its customers. Two of these partnerships, formed with Indian crypto exchanges Giottuss and Coindelta, will facilitate the sharing of order books across all three exchanges, thereby creating a deeper and a richer user base across the globe and providing users with higher liquidity and security from price fluctuations during trades. The development of industry partnerships, the ability to attract users and strategic investments, and the introduction of innovative mining models that provide traders with alternative sources of income all play in favor of BitMax.io’s future growth and success as a trading platform. As part of its growth, BitMax.io is publishing detailed distribution rules for BTMX tokens that are mined during transaction mining, which are as follows. Distribution rules Since BTMX tokens constitute a new form of utility value on the BitMax.io platform, BTMX token holders who agree to share transaction data will receive further platform benefits as an incentive to continue holding BTMX. BitMax.io will pay users for BTMX usage data, including mining, execution price, and other token circulation information in order to better manage BTMX statistics on the platform. Users who sign up and agree to share their token transaction information with BitMax.io will have 80% of the total platform transaction fee revenue distributed back to them. Furthermore, in order to stabilize the daily distribution rate that is in effect every day, a Data Usage Fee Pool (“the Pool”) will be set up using 80% of net transaction fee revenues. The Pool will redistribute 1/180 of the balance back to BTMX holders. Daily Deposit into the Pool = Daily Net Transaction Fee * 80% Daily Distribution of the Pool = Daily Data Usage Fee Pool Balance / 180 Individual Share of Platform Data Usage Distribution = Daily Distribution of the Pool * (24HR Weighted Average BTMX position / Aggregation of Total User Effective BTMX Position) Daily settlements of data usage fee distribution will start at UTC 00:00 based on the previous 24-hour distribution amount and will be paid into individual user accounts on BitMax.io at UTC 04:00 in the currency in which user transactions were executed. BitMax.io has quickly risen to levels of prominence in the cryptocurrency trading and exchange space. It provides traders with revenue-generating trading models such as transaction mining that differentiates maker vs taker trades, along with user-friendly features such as the real-time settlement of trades and institutional-grade trading architectures that support seamless trading experiences. High liquidity, deep

2 days ago

BitMax.io Introduces Reverse-Mining to Incentivize Trading and Bolster the Liquidity of the Exchange

BitMax.io has introduced Reverse Mining, a model that is user-friendly and focussed on incentivising the trader. With reverse mining, traders earn commissions from trading by executing Maker trades. The platform will then deduct the same amount as the market value of BTMX from the trader's account. The tokens are then removed from the market supply. This new model will bolster the liquidity of the exchange by allowing traders to buy and sell BTMX on the platform. A focus on liquidity in crypto trading will enhance the market structure of the digital asset. (KE)

2 days ago

The Blockchain Startups You Need To Hear About

It’s safe to say that the blockchain industry is thriving at the moment. Whilst this is a good thing, it does make it very hard for us to pick out promising blockchain ideas that are calling out for our investment. Overall, the industry is a maze of startups, new ideas and growing innovations. It’s exciting to be a part of, and it’s an industry that is going to be cooking for many, many years to come. American Inno have recently published an article that highlights their 11 most exciting blockchain startups, across 11 different cities, we want to dive into this to pick out a few of our favourites. Blockchain technology does not just mean cryptocurrency, therefore some of the mentioned projects are focusing on many other aspects of blockchain technology. Remember that this is opinion based and we are by no means telling you to invest in these projects, at the very least though, it’s exciting to explore. According to American Inno: “Blockchain startups have raised nearly $4 billion in VC in 2018 to date, a 280% increase from last year’s record pull. And blockchain extends way beyond the crypto space, infiltrating a variety of industries from healthcare to media. To shine a spotlight on the blockchain innovation that’s happening across the Inno network, we asked our writers to offer up a local startup in this space that’s caught their eye.” Factom Factom is a project that already hosts a tonne of value, around $500 million worth to be exact. Factom has been backed by Tim Draper, which in turn is helping to draw a lot of attention to this project, according to American Inno: “Factom, which has backing from Tim Draper, has landed contracts to protect data housed by the U.S. Border Patrol, the Department of Homeland Security and the Bill and Melinda Gates Foundation. Factom’s other co-founder, Jack Lu, also launched Wanchain, which has landed millions in Ethereum and provides cross-blockchain functions.” What is Factom? Well, according to the Factom website: “At Factom, we make the world’s systems honest and build trust between organizations, people and institutions today, solve hard problems through the utilization of Factom’s Blockchain. We see a future world where fraud, corruption, and forgery are a thing of the past. We believe in keeping private data private and securing the world’s wealth because privacy and possession of property are basic human rights. Life can be a little more fair with Factom.” Coinigy Coinigy is a brand new crypto portfolio management, according to American Inno: “A cryptocurrency startup in Milwaukee called Coinigy gives crypto traders the tools they need to buy, sell and manage their portfolios. Users get access to data on more than 40 exchanges and the ability for users to trade on nearly 20 exchanges. Though the company was founded in 2014, it just launched its mobile app in May to let traders trade on the go, and now has upwards of 80,000 users, roughly half of which pay about $20 per month for the product. And the founders say revenue has grown 300 percent year-over-year, which is pretty impressive.” And, according to the Coinigy website: “Coinigy is the best way to access the global financial markets of the future. Businesses small and large rely on our data to power their decision-making. We are a group of dedicated developers, traders, analysts and evangelists that believe in the upcoming paradigm shift that cryptography and the blockchain are bringing to the global financial industry. We built Coinigy because we are passionate about open, transparent markets and aim to be a major driving force in widespread adoption. Our goal as a company is to empower 100,000 people through powerful tools and education.” Block.one You’ve probably heard of these guys. The last of American Inno’s recommendations that we wish to touch upon is Block.one, the startup behind the EOS project. All things considered, it’s pretty clear why Block.one are quite a big deal and why we believe they are still one to watch. According to American Inno: “The maker of the world’s fifth most valuable cryptocurrency expanded its footprint in a major way this year. The blockchain company, which has offices around the world and was founded just a couple years ago, moved into its own 30,000-square-foot building in the Virginia Tech Corporate Research Center in October. Block.one created EOS, which raised $4 billion in an initial coin offering, and it’s backed by Peter Thiel — making it by far Central Virginia’s biggest blockchain startup.” Now, as stated, we’re not telling you that these are the projects to invest in, however we do believe it is worth your while looking into them and doing some further research. Each example is exploring a very unique area of blockchain technology, yet together, all these projects are working together to bring blockchain technology to the mainstream. They are doing great things for themselves, their investors and the entire blockchain adoption movement. googletag.cmd.pus

2 days ago

How to Buy Cardano (ADA) In Europe - A Case Study About The Best Places to Buy Cardano in EU

Due to our past post about Cardano Price Predictions, we have a few people messaging us and asking us to help them buy Cardano in Europe. We understand that this might be the main concern of many interested buyers. There are a lot of people that aren’t buying Cardano from a safe exchange and they get scammed by people that steal all of their funds or get a much lower quantity of ADA than they should. The main purpose of this article is to educate the beginners and help them choose a respectable exchange to buy ADA. Ways to buy Cardano (ADA) in Europe There are many ways from which you can buy Cardano in Europe. We will create a list with all the best options here and analyze the potential outcome of every scenario. Case #1 - Buying Cardano (ADA) from a friend - This is a great way for a beginner to get started. To get help from a more experienced friend. But, not all of us have that friend and also if you always count on others you won’t be able to do it alone. We don’t recommend this method for beginners as its important to learn the best practices by applying those - not to count on someone else to do it for you. Case #2 - Buying Cardano (ADA) from a Cryptocurrency Exchange - This is actually a great way to get started. Buying Cardano from a cryptocurrency exchange will teach you the basics. You will learn how to create an account on a cryptocurrency exchange, how to fill out a KYC and how to create a market order to purchase ADA. We will talk more about this soon. Case #3 - Buying Cardano (ADA) from a Cryptocurrency buying website - Not the best way to start with ADA. These types of websites purchase ADA from exchanges and sell it to you. They’re basically brokers that are gaining a fee that you pay. We will talk more about the disadvantages of purchasing ADA from a service soon. Case #4 - Buying a cryptocurrency and exchanging it for Cardano (ADA)/ Already having a cryptocurrency and exchanging it for Cardano - Again, this is not a perfect scenario as you will lose a certain % of your investment from the exchange fees. Though, we need to keep this into consideration and analyze this too. If you however have a cryptocurrency and want to exchange it for Cardano - we’ll show you how soon. Buying Cardano(ADA) from a cryptocurrency exchange or a cryptocurrency buying website - What you should know & which cryptocurrency exchange you should use Firstly, every cryptocurrency exchange have a certain fee. Some of them have low ones that are under 1% and some of them pass the 2%. Its important to know this as you may ask why your portfolio lost 1% just after you bought the tokens even if the price stayed the same. And this is the answer. There are some exchanges that also have withdrawal fees - in case you want to keep your ADA in a more secure place such as a Trezor Wallet - which recently accepts Cardano (ADA) on its T Model. There are two well-known places in Europe that you can purchase ADA from: Coinmama Coinmama is one of the service website that lets you purchase cryptocurrency from it. It is not a cryptocurrency exchange, as you cannot sell cryptocurrencies using it - only buy. Formed in 2013 and active until 2018 - Coinmama operated in 188 countries worldwide and is also available in 24 US States. Coinmama offer investors a simple way to purchase: Bitcoin, Ethereum, Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple. To be able to purchase from Coinmama, you also need to verify your account by submitting a passport, national ID card or driver’s license card to its platform. This process usually takes less than one hour, in some times even less than 15 minutes - depending on how fast can you complete the steps. Coinmama Fees But Coinmama also have a big issue from an investor’s point of view - The Coinmama fees. The fees are way too high. To purchase from Coinmama with a credit card, you will be charged with a 5.00% processing fee. Also, they have a trading fee for 5.9%. This means that if you want to purchase 1,000 Euro worth of Cardano (ADA) from Coinmama, you will need a total of 1,105 Euro, plus another fee from your bank to exchange your currency to Euro- if you don’t already have it. This means that only by purchasing Cardano (ADA) from Coinmama, you will already be at a ~11% loss. If you will purchase exactly 1,000 Euroworth of Cardano (ADA) - you will receive 14,194.31 ADA which at the current market price have a value of 946.76 Euro. And here the processing fee its ignored. If we add that, we reach a 890 Euro value of ADA. The good part of it is that they don’t have a withdrawal fee - as Coinmama will send you the Cardano (ADA) directly to your wallet address. So, should you buy from Coinmama? We don’t believe so. There could be some places where you could get a better value and not lose ~11% of your hard earned money. Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange is one of the most-known and oldest bitcoin exchange. As the time passed, Kraken added variou

2 days ago

Crypto Exchange Cobinhood Announced Support for Four New Stablecoins

Cryptocurrency exchange Cobinhood recently announced that it had added four new stablecoins to its platform. These coins include Gemini Dollar (GUSD), Paxos Standard Token (PAX), TrueUSD (TUSD) and MakerDao (DAI). The next-generation crypto exchange platform which provides zero-trading-fee based solutions to its users has added these tokens to reduce volatility in the markets. The addition of these fiat pegged coins will improve market stability. Why Don’t Standard Cryptocurrencies Stabilize the Markets? In a recent press release, Cobinhood noted that standard cryptocurrencies could be highly volatile, sometimes moving both ways by as much as 20 to 30 percent in just a few hours. This high volatility is curbed using stablecoins that are pegged to stable fiat currencies like the US Dollar. Some stablecoins are also connected to commodities like gold and oil. Cobinhood, founded in 2017, is aiming to help the crypto markets mature. Co-founder of the exchange, Wei-Ning Huang talked about the pain points of the market, saying: “The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange, so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.” The New Tokens Added to Cobinhood All new stablecoins added to Cobinhood are pegged to the US Dollar. The first amongst them is Gemini Dollar (GUSD), the coin launched recently by regulated cryptocurrency exchange Gemini is an ERC20 standard token and pegged 1:1 to the US Dollar. This means that the value of each Gemini Dollar will always be equal to $1, regardless of external factors. The coin is backed by the New York State Department of Financial Services (NYDFS) regulations. Paxos Standard Token (PAX) is another regulated token that is backed by NYDFS regulations as the Paxos Trust Company, the issuer of these coins is based in New York. It is also an ERC20 token with 1:1 pegging to the USD. TrueUSD is another ERC20 token that is 100 percent collateralized with the USD. The dollar reserves are held with professional trust firms and banks. MakerDao (DAI) on the other hand, is a stark opposite of GUSD and PAX. Though it is an ERC20 token with USD connection, it is not backed by any centralized authority. The company behind the project, Maker, uses a smart contract, incentivized external factors and CDPs to stabilize the value of the coin. All pairs will trade against USDT and BTC on the platform. Apart from DAI, which can be traded against ETH instead of against BTC. Crypto Exchange Cobinhood Announced Support for Four New Stablecoins was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

3 days ago

Financial Report: Canadian Bitcoin Mining Firm Posts Record $13 Million in Q3

A Canadian Bitcoin mining firm, Hut 8 has reported record revenue of CAD17.7 million ($13.4 million) in Q3, according to its quarterly financial report ending Sept. 30th published on Nov. 8th. The mining firm which claims to be the largest public cryptocurrency company by operating capacity and market capitalization attributes the increase in revenue to the addition of more mining equipment at its new City of Medicine Hat (CMH) facility. This is the company’s record revenue in a single quarter “and a 126% increase from the prior quarter revenue of $7.8 million.” The company also recorded CAD36.4 million ($27.59 million) in the past nine months and CAD7.2 million ($5.46 million) in interest, taxes, depreciation, and amortization (EBITDA), an 86 percent increase from Q3. Figures and Facts The mining firm said that it had 40 BlackBoxes at the beginning of July and brought in 16 more in September to have a total of 56 altogether at the CMH facility. The company’s operating capacity increased by 67.2MW. The mining firm mined 1,978 Bitcoin in Q3 and the cost to mine each Bitcoin was $3.394, which is lower than Bitcoin’s price of around $6,400 and scored a 51 percent mining profit margin. The firm considers itself to be one of “the lowest-cost miners of Bitcoin in the world.” The new CMH facility was launched in July in partnership with Bitfury, a chip maker of Bitcoin mining equipment. Before the partnership, the firm had mined 1,000 Bitcoins since its launch in December 2017. Hut 8’s mining profit margins for Q3 were lower because the competition from other Bitcoin miners increased while BTC’s price appreciated through the quarter. The high summer temperatures in Alberta where the company’s Drumheller facility is located resulted in high electricity costs. Andrew Kiguel, Chief Executive Officer of Hut 8 said: “This summer, a record-setting heat wave in the province resulted in increased electricity costs during certain periods. The result was increased electricity costs at the Drumheller site by approximately $0.01 per Kilowatt hour on average. We are actively managing our exposure to market prices through a number of different means. Despite this, Hut 8 achieved record revenue for Q3 and strong overall margins.” Mining Hardware The company expects the efficiency of the company’s ASIC’s miners to improve in the next quarter due to cooler months in Alberta, “leading to improved performance in Q4 when compared to Q3.” The impact of the hot summer was felt less at the new CMH facility because the mining firm buys its electricity under a fixed price contract. The CMH facility is still operating below capacity, and the firm wants to rectify this by Q1 2019 The mining firm operates 73 BlackBox data centers, and 56 of them are housed at its new CMH facility. The company claims to have a total operating capacity of 85.9MW and a hash rate of more than 640 Petahashes per second. Financial Report: Canadian Bitcoin Mining Firm Posts Record $13 Million in Q3 was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

3 days ago

Podcast Transcript: DDEX Co-Founder Bowen Wang on building on 0x from China, approaching Beijing regulators and hiring developers and community members in China

Checkout our Latest Podcast with DDEX Co-founder Bowen Wang We are delighted to bring you our latest podcast with Bowen Wang, founder and COO of DDEX, a decentralized exchange based out of Beijing. DDEX now accounts for about 75% of the total volume of trades over the 0x Protocol each month and ranks 13% of trades amongst decentralized exchanges, 2nd after IDEX. In this episode, Bowen and I discuss how DDEX operates out of Beijing, how DDEX discovered 0x, Bowen‘s advice on approaching Chinese regulators for blockchain projects, and insights on hiring developers and community members out of China. New DDEX Wallet: Bringing Decentralized Trading To Mobile Basic DDEX trading: DDEX Trading — Getting Started Joyce Yang I’m your host Joyce Yang and our guest today is Bowen Wang, co-founder and CEO of DDEX, a decentralized exchange based out of Beijing. DDEX now accounts for about 75% of the total volume of trades over the 0x protocol each month. In this episode, we discuss how DDEX operates out of Beijing, how DDEX discovered 0x, Bowens advice on approaching Chinese regulators for Blockchain projects and insights on hiring developers and community members out of China. Bowen Wang Hello, this is Bowen Wang from DDEX. I’m the co-founder and CEO of DDEX. I graduated from NYU 2 years ago and before starting the company, I used to work at Zhenfund, which is Sequoia’s early venture firm investing in early stage companies. And back while I was in Zhenfund, I was specifically looking into the Blockchain company and also Blockchain related app company. So I was the first one who actually invested in ImToken and also Lino and also many of the other projects in the Blockchain space. And then we started a friends and family fund by ourselves, and then we discovered that few people hold their tokens long term. They have to have a marketplace to buy and sell. And so over the course of a weekend, we had 3 co-founders come together just trying to build a decentralized exchange in Starbucks. And then we figured out that it’s actually something that’s workable and then we quit our job and put our full hands on it. So then we got the investment from Initialized Capital and also Zhenfund for seed round funding, and we launched it in January 2018. And since then we have been up and running for more than 10 months already and also we have like have aggregating volumes for more than 400 million dollars. Joyce Yang Wow! That’s great. And just to give our listeners a quick understanding, you’re based in China right now with your team. And how big is your team? Bowen Wang So right now we’re based in Beijing. And the Beijing team has more than 25 members. Joyce Yang Wow! That’s quite big. And you grew that from 3 people since raising funding last year essentially. Bowen Wang Yeah, since 12 months ago. Even before like 6 months ago we only had like 8 people. Joyce Yang Yeah, that’s great. Just at a high level, how’s the crypto market in China right now? You kind of see a lot of what’s going on the East as well as in the West, and you are based in Beijing where you know a lot of the government officials and regulations are actually made. If you could give an idea what’s going on and the crypto regulations product, also the Blockchain development front. Bowen Wang Let’s talk about like the government policy. For now, the one top priority for the government is to stop the Fiat entrance for crypto market, which means that you cannot buy Bitcoin or Ethereum from any kind of central exchange just like people in the U.S. use Coinbase. And the reason why is that they want to stop like capital outflow or money laundering activities from a macro perspective, but from a development perspective, there have been really a growing number of developers coming to Ethereum and learning about solidity and there’s many. So like on Coin market cap of the top 100 Tokens, like 30 percent of them are coming from China. So there’s many other new layer-one blockchain teams that are trying to kind of revolutionized EOS or ETH from different architecture like DAG or DPOS. And there are also different like layer 2 protocol, which actually wants to do a scalability solution on Ethereum. And also there are many of the D-Apps coming up like Cryptokitties is in China and also like the U.S. developer community are really huge in Asia and people are developing U.S. wallet US D-App, US gambling game. And also kind of 30 percent of the U.S. Block producers are located in China. And as you all know, Bitmain is in Beijing, most of the majority of the mining pools are located in China and also there’s a huge line of like a manufacturing mining in the middle of nowhere like southeast China and Northeast China in the markets. Joyce Yang So you’re saying that the Blockchain community is very strong from what you’re seeing in China. Bowen Wang I always say it’s substantial, and also Bitmain is looking into IPO in Hong Kong markets either by the end of this year or at the b

3 days ago

How to Buy Cardano (ADA) From Europe - A Case Study About The Best Places to Buy Cardano in EU

Due to our past post about Cardano Price Predictions, we have a few people messaging us and asking us to help them buy Cardano in Europe. We understand that this might be the main concern of many interested buyers. There are a lot of people that aren’t buying Cardano from a safe exchange and they get scammed by people that steal all of their funds or get a much lower quantity of ADA than they should. The main purpose of this article is to educate the beginners and help them choose a respectable exchange to buy ADA. Ways to buy Cardano (ADA) in Europe There are many ways from which you can buy Cardano in Europe. We will create a list with all the best options here and analyze the potential outcome of every scenario. Case #1 - Buying Cardano (ADA) from a friend - This is a great way for a beginner to get started. To get help from a more experienced friend. But, not all of us have that friend and also if you always count on others you won’t be able to do it alone. We don’t recommend this method for beginners as its important to learn the best practices by applying those - not to count on someone else to do it for you. Case #2 - Buying Cardano (ADA) from a Cryptocurrency Exchange - This is actually a great way to get started. Buying Cardano from a cryptocurrency exchange will teach you the basics. You will learn how to create an account on a cryptocurrency exchange, how to fill out a KYC and how to create a market order to purchase ADA. We will talk more about this soon. Case #3 - Buying Cardano (ADA) from a Cryptocurrency buying website - Not the best way to start with ADA. These types of websites purchase ADA from exchanges and sell it to you. They’re basically brokers that are gaining a fee that you pay. We will talk more about the disadvantages of purchasing ADA from a service soon. Case #4 - Buying a cryptocurrency and exchanging it for Cardano (ADA)/ Already having a cryptocurrency and exchanging it for Cardano - Again, this is not a perfect scenario as you will lose a certain % of your investment from the exchange fees. Though, we need to keep this into consideration and analyze this too. If you however have a cryptocurrency and want to exchange it for Cardano - we’ll show you how soon. Buying Cardano(ADA) from a cryptocurrency exchange or a cryptocurrency buying website - What you should know & which cryptocurrency exchange you should use Firstly, every cryptocurrency exchange have a certain fee. Some of them have low ones that are under 1% and some of them pass the 2%. Its important to know this as you may ask why your portfolio lost 1% just after you bought the tokens even if the price stayed the same. And this is the answer. There are some exchanges that also have withdrawal fees - in case you want to keep your ADA in a more secure place such as a Trezor Wallet - which recently accepts Cardano (ADA) on its T Model. There are two well-known places in Europe that you can purchase ADA from: Coinmama Coinmama is one of the service website that lets you purchase cryptocurrency from it. It is not a cryptocurrency exchange, as you cannot sell cryptocurrencies using it - only buy. Formed in 2013 and active until 2018 - Coinmama operated in 188 countries worldwide and is also available in 24 US States. Coinmama offer investors a simple way to purchase: Bitcoin, Ethereum, Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple. To be able to purchase from Coinmama, you also need to verify your account by submitting a passport, national ID card or driver’s license card to its platform. This process usually takes less than one hour, in some times even less than 15 minutes - depending on how fast can you complete the steps. Coinmama Fees But Coinmama also have a big issue from an investor’s point of view - The Coinmama fees. The fees are way too high. To purchase from Coinmama with a credit card, you will be charged with a 5.00% processing fee. Also, they have a trading fee for 5.9%. This means that if you want to purchase 1,000 Euro worth of Cardano (ADA) from Coinmama, you will need a total of 1,105 Euro, plus another fee from your bank to exchange your currency to Euro- if you don’t already have it. This means that only by purchasing Cardano (ADA) from Coinmama, you will already be at a ~11% loss. If you will purchase exactly 1,000 Euroworth of Cardano (ADA) - you will receive 14,194.31 ADA which at the current market price have a value of 946.76 Euro. And here the processing fee its ignored. If we add that, we reach a 890 Euro value of ADA. The good part of it is that they don’t have a withdrawal fee - as Coinmama will send you the Cardano (ADA) directly to your wallet address. So, should you buy from Coinmama? We don’t believe so. There could be some places where you could get a better value and not lose ~11% of your hard earned money. Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange is one of the most-known and oldest bitcoin exchange. As the time passed, Kraken added variou

4 days ago

GPU Maker AMD Boasts Blockchain’s Power (and Its Mining Equipment)

Graphical processing unit (GPU) manufacturer AMD has launched a new explainer page for both cryptocurrency and blockchain technology. The Fight Is Heating Up AMD is one of several mining corporations in the crypto industry. The company is likely experiencing heavy competition from bitcoin mining giant Bitmain, headquartered in China. The venture is said to own roughly 50 percent of mining power and has been accused of creating what was ultimately a centralized industry. In the explainer page, AMD has a lot of positive things to say about blockchain and suggests that it can be applied to virtually any enterprise or department such as medicine and healthcare, insurance, cybersecurity, digital advertising, supply chain management, and obviously, finance and banking. Carving Out the Future The company writes: With the flexibility of blockchain, we are one step closer to a world of efficient data access and secure transactions, making intermediaries that inevitably introduce vulnerabilities and dependencies but are necessary in conventional transaction models obsolete... We are working with existing ecosystem partners to bring blockchain compute solutions to market for a large variety of use cases and exploring opportunities with new and innovative platforms using blockchain. While the page is no doubt informative, it does take on a relatively “salesy” tone and suggests that blockchain would be a welcome addition anywhere. Unfortunately, the only industry where blockchain has seemingly made any headway is finance, and about halfway through the page, the structure changes to discuss the company’s latest mining equipment, which is now available for purchase. The David and Goliath of Miners One source suggests that Bitmain has lost some steam in the mining industry after a long period of industry domination, and that competitors are doing everything they can get in on the action. This could likely explain AMD’s latest punch, but even with Bitmain out of the way temporarily, the company is still going to face heavy resistance from technological bigwigs like Samsung, which has been designing and marketing electronic equipment for years. Recently, Samsung expressed interest in cryptocurrency mining, which could make things even more difficult for businesses like AMD. Overall, the mining sector has suffered greatly over the past year. While stock prices surged during bitcoin’s peak last December, they’ve quickly lost momentum as cryptocurrency values have continued to plunge throughout 2018. In addition, Fundstrat analyst Tom Lee has commented that many miners are leaving the industry, as the costs of extracting new coins are no longer even with crypto prices. Could AMD become a leader in the bitcoin mining business? Post your thoughts and comments below! Images courtesy of ShutterStock The post GPU Maker AMD Boasts Blockchain’s Power (and Its Mining Equipment) appeared first on Live Bitcoin News.

5 days ago

Catch up on everything that Maker did @EFDevcon. From #hacka...

Catch up on everything that Maker did @EFDevcon. From #hackathons, to @RealZandy's talk on financial reform, all th… https://t.co/jSKd43EkjN

5 days ago

Tambien les recordamos que pueden encontrar todas las noveda...

Tambien les recordamos que pueden encontrar todas las novedades de Maker y $dai en Español! https://t.co/i7YTuavyEw… https://t.co/nxr8s1r00i

6 days ago

Seeing the vibrant crypto ecosystem in Latin America, Maker ...

Seeing the vibrant crypto ecosystem in Latin America, Maker was present for the hackathon at Blockchain Summit Lati… https://t.co/hsnRT8AltE

7 days ago

New Cryptocurrency Bull-Run Already Started: Santiment Report

Data analytics platform Santiment has concluded that Ethereum based altcoins might be at the forefront of the next bull market. The End of the Bear Market Draws Near The last two quarters of 2018 have been dominated by talk of a Bitcoin-ETF approval by the U.S. Securities and Exchange Commission (SEC), institutional investment, Bitcoin 00 closing the year above $10,000 and a bull market reversal by occurring toward the end of Q4 2018 or Q1 of 2019. It seems that literally everyone is waiting on a market reversal and analysts are on the fence regarding whether Bitcoin’s low volume and record lack of volatility are positive or negative signs. The analysts at Santiment believe that a bull market is already in the making and the data analytics platform primarily focuses on public blockchain activity and social media sentiment analysis. Their most recent ‘Signals’ newsletter discusses three key areas they believe support this point of view. While the current stability of BTC and ETH seem boring to many, Santiment analysts have observed that over the last month “a number of ERC-20 projects completely [broke] their ETH price interdependence” which means many tokens are now marching to their own beat instead of moving in step with ETH price. For example, yesterday Basic Attention Token jumped 25% after Coinbase announced they will list token and this was after the altcoin rallied 25% on the release of an update for Brave browser about two weeks ago. According to Santiment, MKR and ZRX also appear to be following the same “ETH decoupling pattern” and this divergence is unique as BAT, MKR and ZRX traditionally mirrored ETH price 00 action. On-Chain Activity and Social Media Mentions Spike Santiment also found that each altcoin had strong on-chain activity and the bullish price action was clearly visible on-chain. Their third ‘bullish’ measure incorporates a rather unconventional observation of “behavior analysis” to gauge the “social volume” of each token by the number of mentions across various crypto-associated social media. Altcoins Could Save the Day A combination of these three factors led Santiment analysis to conclude that cryptocurrency projects built on Ethereum blockchain are slowly leading the market into a bull run. They do concede that market could drop another notch before reversing course but Santiment feels confident enough about the current market set up to conclude that “The bull market has started. It’s not about “when” anymore - it’s about “who.” Do you think altcoins ‘decoupling’ from Ethereum is a sign of the start of a bull market reversal? Share your thoughts in the comments below! Images and data courtesy of data.santiment.net, Satiment.net, and Shutterstock The post New Cryptocurrency Bull-Run Already Started: Santiment Report appeared first on Bitcoinist.com.

7 days ago

Crypto Bull Market in Action: 3 Altcoins “Paving their Own Bull Run”

According to the latest research, 3 altcoins have already started making their way to a bull run that could mean the bull run in the crypto market just might be already getting ready to affect the market. Crypto Bull Market: Here’s How it could Already be in Effect Everyone is in anticipation of the next bull run after the entire crypto market hit $800 billion at its peak. So, when is this bull run coming? Could it already be into effect? “The bull market has started. It’s not about “when” anymore - it’s about “who”,” says the latest research by Santiment, which further shares that it is a possibility the crypto bull run is in action, “The recent price ‘movement’ of Bitcoin and Ethereum has been boring to say the least. It’s been so uneventful these past few weeks that we’re already seeing memes pop up about BTC as the next big stablecoin. Although BTC and ETH aren’t growing (and they have enough reasons not to), quite a few tokens/networks on the ethereum blockchain have been blinking on our bull radar recently.” Basic Attention Token (BAT), Ox (ZRX), and Maker (MKR) are the ones that have been showing bullish moves and following three patterns. ETH Decoupling is one of the primary reasons, “Historically, the price of these 3 tokens faithfully mirrored ETH - not anymore. Particularly over the last month or so, we’re seeing a number of ERC 20 projects completely break their ETH price interdependence and start dancing to their own beat. And you have to admit - it’s a pretty catchy tune.” Another point is strong on-chain activity, “the abnormal pricing activity is strongly reflected on chain as well. It’s worth nothing that this on-chain activity isn’t monolithic; each project still has their own quirks.” BAT’s on-chain activity shows a healthy pattern where both price and speculative activity is steadily growing. Moreover, it mentions, “ZRX recorded the most explosive spike across all observed metric, with MKR not all too far behind.” It then moves onto the social volume which is based on “behaviour analysis” of the platform with crowd sentiment measurements. This metric basically covers the number of mentions of a token on social media. “While action is bullish, we believe you don’t want to buy at extreme values on social volume, as such activity might mark a short-term top. So we have waited until the attention of the traders crowd has declined to more or less normal levels.” Talking about the 2016-17 bull run, the research states, “ETH launched the explosive bull run and BTC followed.” And this time, these three altcoins are “done waiting for ETH to bounce back, they’re paving their own bull run.” Eventually, this price movement is expected to find its way to ETH as well. However, it does caution, “We might still see some decline if the whole market needs to make one more low.” But “the risk is now to break to the top in the “healthy” tokens.” The post Crypto Bull Market in Action: 3 Altcoins “Paving their Own Bull Run” appeared first on Coingape.

7 days ago

Daily Berminal Brief: Bitcoin Approaches $6,500 as the SEC is set to Decide on Several Bitcoin-ETF Applications

The State of The Market - November 5, 2018 BTC: $6,434.27 (+1.64%) ETH: $209.66 (+3.54%) XRP: $0.4888 (+6.12%) The cryptocurrency market is flashing green today as all of the top 20 coins are posting gains. Bitcoin is working to overcome resistance at $6,500 and Ethereum has held above $200 after making a surprise run to $218 on Sunday. XRP also leaped above $0.45 and now approaches resistance at $0.50. Currently, the total market cap is $212.8 billion. In other news, cybersecurity analysts at Japan Digital Design believe that they may have found the hacking group behind the $60 million hack of Japan's Zaif cryptocurrency exchange and a consumer payments project backed by Barclays and Mastercard has integrated Ripple's xRapid system to its payment infrastructure.  1) The SEC will soon make its next round of decisions on the numerous Bitcoin (BTC) and cryptocurrency related ETFs that have been submitted to the regulatory agency for approval. The designated public comment period for several submissions was set to end on November 5th, the beginning of this coming week. Thus far, the SEC has denied all nine Bitcoin ETF submissions from various parties including Direxion, Proshares, VanEx, and the CBoE. The crypto sphere and the wider institutional investing world anxiously await the pending decisions from the SEC. 2) Analysts at Santiment believe that altcoins are "done waiting for ETH to bounce back, they're paving their own bull run." The data analytics platform primarily focuses on public blockchain activity and social media sentiment analysis. According to Santiment, over the last month "a number of ERC-20 projects completely [broke] their ETH price interdependence" which means many tokens are now marching to their own beat instead of moving in step with ETH price. For example, yesterday Basic Attention Token jumped 25% after Coinbase announced they will list token and this was after the altcoin rallied 25% a few weeks ago. Over the past few weeks,​ MKR and ZRX also surged on the release of positive news. All the while, ETH has remained locked in a range of $195 - $220. Santiment says there is still hope for ETH as "logically this price movement should eventually find its way to ETH as well." 3) Dilip Rao, the global head of infrastructure innovation for Ripple, revealed that the company is planning to open an office in Dubai. Rao discussed Ripple's plans for expansion during the recent Global Islamic Economic Summit 2018. Ripple currently has offices in London, India, San Francisco, New York, Luxembourg, Sydney, and Singapore. He added that Ripple has so far signed about 200 institutions from different countries with many of them being from the Middle East. The list of clients reportedly includes the Saudi Arabia's Al-Rajhi Bank, as well as Kuwait Finance House."Our focus initially is on cross-border payments because we think that's where there is the most friction," said Dilip Rao. (RS)

7 days ago

Santiment Analysis Suggests that Altcoins are Decoupling from Ethereum

Analysts at Santiment believe that altcoins are “done waiting for ETH to bounce back, they’re paving their own bull run.” The data analytics platform primarily focuses on public blockchain activity and social media sentiment analysis. According to Santiment, over the last month “a number of ERC-20 projects completely [broke] their ETH price interdependence” which means many tokens are now marching to their own beat instead of moving in step with ETH price. For example, yesterday Basic Attention Token jumped 25% after Coinbase announced they will list token and this was after the altcoin rallied 25% a few weeks ago. Over the past few weeks,​ MKR and ZRX also surged on positive news. All the while, ETH has remained locked in a range of $195 - $220. Santiment says there is still hope for ETH as “logically this price movement should eventually find its way to ETH as well.” (RS)

8 days ago

#IOST Japan had a promising meeting in Kyoto with #GLM, Japa...

#IOST Japan had a promising meeting in Kyoto with #GLM, Japan's premier electric car maker, about implementing IOST… https://t.co/IVF9kGD2U8

10 days ago

PC Maker Giant Lenovo to Make Blockchain Phones

According to Sina News, Lenovo, the largest PC maker by the sales volume in the world has become the first licensed enterprise in China to make blockchain phones. Chang Cheng, the Vice President of Lenovo, revealed that the company had got the relevant license from the Ministry of Industry and Information Technology. The company reportedly has been trying to diversify its products, with focus on cell phones, printers, among others. This came just after HTC’s release of blockchain phones in late October. (RL)

11 days ago

0x Digital Asset Report And Evaluation - Initiation Review

As an open protocol for asset exchange, 0x ultimately aims to support an ecosystem of interconnected exchanges and dApps that benefit from the network effect of a shared asset exchange infrastructure. In our 0x Digital Asset Report and Evaluation, we examines the ZRX token and its long-term fundamental strengths and weaknesses. Introduction To 0x 0x is an open protocol designed to facilitate digital asset trades in a decentralized manner utilizing the Ethereum blockchain. Within the current paradigm, both centralized and decentralized exchanges present means by which to trade digital assets, each with their own pros and cons. 0x offers a solution to the drawbacks of both approaches through an “off-chain order relay with on-chain settlement”. Via this hybridized model, offchain state channels are employed for conducting orders and transactions to increase speeds; only orders that have been settled are recorded on the blockchain. 0x Market Opportunity The utility of 0x protocol as a means for exchanging tokens gives it a wide range of use case scenarios within both DEX and dApp settings. As a means for exchanging tokens in a decentralized way, 0x targets many of the issues associated with decentralized exchanges, including the high costs, slow transaction rates and lack of liquidity. If a DEX operates its order book onchain, execution of each new order is limited by the transaction speed of the chain. This scenario also leads to network transaction fees at every interaction, contributing to the cost factor. 0x addresses both of those issues by developing a standard protocol to relay orders in an offchain environment. Orders go back on the blockchain when they are settled instead of recording every transaction, enabling trades to occur at speeds more comparable to centralized exchanges while eliminating a share of the transaction fees. Another core value proposition of 0x addresses the lack of liquidity faced by DEXs. 0x incorporates an API framework for creating shared liquidity pools among disparate dApps built on the protocol, which in theory allows new entrants to bootstrap liquidity by accessing broadcasted orders from all order books across the network. While 0x is designed to be different from both centralized and decentralized exchanges, the protocol must contend with both existing DEXs (IDEX and EtherDelta), the entrance of well-branded platforms like StellarX and Binance DEX, and Kyber Network, another decentralized exchange protocol that conducts all actions onchain. User Ecosystem Structure With each trade that utilizes 0x, there are two parties- the maker and the taker. The maker broadcasts an order message containing information on a specified amount of one token in exchange for another token. The maker then submits these amounts to a “relayer”. While a relayer can theoretically take different forms, the most common example is a web application that allows traders to place and fill orders i.e. an exchange. The relayer collects cryptographically signed versions of these orders into an off-chain database, referred to as an order book. Relayers, as the name suggests, relay orders to takers, who then fill them directly through 0x smart contracts. Instead of executing trades and handling user funds, relayers merely facilitate matching orders between market participants by hosting an order book. The 0x protocol smart contract performs an atomic swap, exchanging the maker and taker tokens. The relayer then collects fees from the orders they host in the form of ZRX tokens. The use of an off-chain order book reduces friction costs for market makers and also ensures that the blockchain is only used for trade settlement. For hosting and maintaining off-chain order books, relayers can freely set their transaction fees at will. The project has launched the 0x Portal as an aggregate access point to active relayers. The Portal functions as a decentralized application that facilitates trustless trading of Ethereum-based tokens through a web interface aggregation of relayers. In addition to the 0x Portal, the team also created 0x OTC, a consumer facing product that uses the 0x protocol to bypass the need for Relayers altogether when buying or selling ERC-20 tokens, in what is essentially a p2p transaction. In August of 2017, this OTC feature was taken down, reportedly to make updates according to one Reddit source. Since then, OTC trading continues to remain unavailable. With the OTC service down, 0x is missing a core feature that sets it apart from traditional DEXs and allows the protocol to compete with Kyber Network, which offers a similar means for users to conduct token swaps via KyberSwap. There are purportedly 19 dApp projects and 19 DEXs that incorporate use of the 0x protocol. Out of the relayer DEXs launched so far, only two, DDEX and Radar Relay, have managed to garner any substantial level of use. Nonetheless, the projects built on 0x have served to collectively demonstrate the viabilit

11 days ago

Cryptocurrency Market Sentiment Returns Positive: 0x ZRX Highlight

In just two months, the digital currency market underwent heavy selling twice with coin values dropping speedy below major supportive levels. However, in a matter of days/weeks the recovery process commences strongly showcasing the industry’s stable growth and community’s support towards the technology. With prices still on lower standing points, for many traders it could mean a great window to buy-in. One of the virtual assets which is making appearance very often lately on headlines i 0x [ZRX]. 0x ZRX 0x is a protocol that promotes low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is designed to serve as an open standard and basic building block, running interoperability among decentralized applications (DApps) that include exchange functionality. - Former Chief Operating Office or COO of Paypal: David Sacks, has joined the advisory table of the now-famous 0x platform according to Fortune’s post. The positioning came as a result of the project’s partnership with Harbor which is backed by the aforementioned. ZRX USD Per time of writing the pair ZRX/USD is changing hands at $0.8091 with 5.71% increase in the last 24-hours. Today’s performance hoisted ZRX above the weekly declining trend against the US Dollar, which is bringing the coin back above the beginning-of-September-drop level. Source: coinmarketcap Very parallel with ZRX, Maker‘s MKR in the green with 5.21% leading BTC’s market at 4.58% reaching the value of $631.52 against the US Dollar. The post Cryptocurrency Market Sentiment Returns Positive: 0x ZRX Highlight appeared first on Ethereum World News.

11 days ago

Ledger Appoints Benjamin Soong as Head of APAC at New Hong Kong Office

Crypto hardware wallet maker Ledger has recently opened a new office in Hong Kong to establish a global presence. The office will be led by Benjamin Soong, who has been named the head of Asia Pacific (APAC) region for the company. Meeting Global Demand Ledger’s dominance in the crypto asset protection market is growing, and the company is seeking new measures to meet its global demand. Soong’s presence in Hong Kong will help the company in meeting the increasing demand for their popular crypto hardware wallet Ledger Nano S and the multi-authorization cryptocurrency self-custody management solution Ledger Vault. Soong will look after all the APAC operations for the company. Soong has over two decades of experience in operations, business development and sales. He was working with S&P Global Market Intelligence as managing director, head of Asia Pacific Sales. He was earlier employed with Deloitte and KPMG. Ledger president Pascal Gauthier welcomed Soong to the team, saying that he will play a crucial role in helping the company grow in the APAC region. He also noted that Soong’s experience in the region would also help Ledger leverage future opportunities. Commenting on the importance of the APAC region, he said: “APAC is a key market that has seen increased demand. With Benjamin at the helm, we are confident we can deliver top security for both consumers and financial institutions to protect their crypto assets.” Soong’s Vision for Blockchain and Cryptocurrencies Talking about the role that blockchains will play in evolving the financial system, Soong emphasized that it is important for investors and institutions to adapt to the new risks that this technology poses. He said: “Secure storage of large multi-cryptocurrency funds is a highly complex challenge that cannot be solved by just implementing procedures. Institutions are looking for safer storage options along with integrated governance policies, but don’t want to sacrifice operational efficiency — with our technology; investors don’t have to compromise.” In addition to this, he reiterated that crypto has taken off in the Asian markets and the new Hong Kong office of the company will help it to grow rapidly. He also revealed plans to expand to Seoul, Singapore, and Tokyo. Ledger Appoints Benjamin Soong as Head of APAC at New Hong Kong Office was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

12 days ago

The amazing @RealZandy sharing with #devcon4 the Maker journ...

The amazing @RealZandy sharing with #devcon4 the Maker journey and giving insight into innovation for Financial Ref… https://t.co/6WkRxD5vCj

12 days ago

#Devcon4 attendees: Make sure you catch Maker CTO Andy Milen...

#Devcon4 attendees: Make sure you catch Maker CTO Andy Milenius today @ 2pm in Spectrum giving a presentation title… https://t.co/I9bfEsLRA8

12 days ago

Ethereum (ETH) Likely To Profit Off Bitcoin (BTC)’s Misery

Bitcoin (BTC) dominance is in a steady downtrend. The last few moves of capitulation seen in the market were aimed at lowering altcoin prices while Bitcoin (BTC) remains steady. As the Bitcoin (BTC) dominance chart shows, this is not going to happen anymore. In fact, the reverse is going to happen now. As Bitcoin (BTC) dominance falls, altcoins will move against Bitcoin (BTC) in order to complete their cycles. A lot of cryptocurrencies have now neared their lowest levels of dominance. Ethereum (ETH) is one of those cryptocurrencies. During the last altcoin run, Ethereum (ETH) became a market maker and breaker in June 2017. That was when its dominance was at an all time high and Bitcoin (BTC)’s dominance was at an all time low. Ethereum (ETH) was calling the shots and the market was dancing to its tunes. However, as time went by, Ethereum (ETH) dominance continued to decline as Bitcoin (BTC) regained its dominance. The big moment for Bitcoin (BTC) came around July 2018 when Bitcoin (BTC) broke the dominance downtrend. However, soon afterwards, it got stopped by an even stronger resistance and thus the short lived belief that Bitcoin (BTC) had actually broken a dominance downtrend was nullified. Bitcoin (BTC) is about to run into the downtrend resistance again. If it is rejected this time, the fall in dominance will be a very swift one and other cryptocurrencies will soon fill the vacuum. Out of all cryptocurrencies that have remained beneficiaries of a falling Bitcoin (BTC) dominance, Ethereum (ETH) is at the top of the list. The dominance level for Ethereum (ETH) has just fallen back to a long term trend line. This is the dominance trend line that Ethereum (ETH) has held since its existence and there is no reason to believe it will break it this time. If Ethereum (ETH)’s dominance were to rise this time, it would deal a devastating blow to Bitcoin (BTC)’s hold on the cryptocurrency market. Previously when Bitcoin (BTC) dominance fell, it fell from near 80% dominance levels. Yet Ethereum (ETH) was able to amass such influence that it was literally calling the shots back then. If Bitcoin (BTC) dominance falls in the same manner this time, Ethereum (ETH) will be the single most powerful beneficiary. However, unlike before, this time, the dominance of Ethereum (ETH) will be lower than the rest of the altcoins combined. While it may still have a lot of influence, it will most likely not be calling the shots as before. In fact, most cryptocurrencies will trade based on their own merits and demerits which is something most of us would like to see. That being said, the above weekly chart for ETH/USD shows that Ethereum (ETH) is just getting started. It is very likely to reach a price of $4,000 or higher during its next cycle. That kind of market cap will make Ethereum (ETH) the single most powerful entity in the cryptocurrency market after Bitcoin (BTC). Considering that Ethereum (ETH) has previously influenced the behavior of most altcoins, it is likely that it will continue to have significant impact, if not total control. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Ethereum (ETH) Likely To Profit Off Bitcoin (BTC)’s Misery appeared first on Crypto Daily™.

12 days ago

BitMax.io Launches Innovative Mining to Benefit Crypto Trading and Exchange Community

CoinSpeaker BitMax.io Launches Innovative Mining to Benefit Crypto Trading and Exchange Community With its relentless focus on transparency, reliability and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space. The project’s roadmap has numerous user-friendly features, trader-focused services, and investment-grade solutions that can be used by crypto enthusiasts of all types. One of these, an innovative mining solution, will be launched, and first phase public testing of mining activities will go live on the BitMax.io platform on November 1st, 12am EST. About BitMax.io’s Mining Leveraging their quant trading background and deep knowledge of the capital market, the team is working on introducing the transaction-fee based “Trans-Fee Mining” model that would distribute back the transaction fees to traders in the form of the exchange’s own token. The more traders trade, the more tokens they will receive, hence the term “transaction mining”. Furthermore, the team introduces specific incentive structure for market maker trades, the type of trading behavior adding liquidity to the exchange. This development has the potential to revolutionize crypto trade and exchange. Trading on Traditional Exchanges Traditional exchanges charge different rates from both makers and takers for using their platform, with both parties being deducted anywhere between 0.2% and 0.05% or so for each trade executed. This means that the more you trade, the more you pay to the exchange in transaction fees. Many big exchanges have profited heavily by following such models, but BitMax.io is bringing about a paradigm shift by making it easier for investors and private individuals to benefit from crypto trade and investment. With the trans-fee-mining model, users can save transaction fees and get platform tokens simply by executing trades on the BitMax.io exchange, regardless of market conditions, volatility, or other external factors. How Trans-Fee-Mining Works In trans-fee-mining model the BitMax.io trading platform uses an innovative utility token called BTMX. Instead of deducting a fixed percentage from all trades as trading fees, BitMax.io instead credits makers and takers with an equal value of BTMX. In this way, BTMX is mined as an outcome of regular trading. This not only conserves mining energy, but also incentivizes trading regardless of external factors by providing traders with a new token (BTMX) that has a rich secondary market and can be used for future trading and other activities. This is a huge positive factor for traders who execute trades in times of market volatility. Furthermore, BTMX can be traded with other cryptocurrencies based on available trading pairs, or can be cashed out to the user’s BitMax.io wallet. Additional Mining Specs BitMax.io’s rules governing mining and the creation and distribution of tokens are designed to ensure fairness and transparency. These rules are as below. Types of Mining: “Mining” is the process where the traders pay transaction fees at a certain level and receive a certain amount of BTMX as a trading reward. “Reverse-Mining” is a separate unique incentive structure for the Maker trades, the process of the platform paying transaction fee at certain rate in return for equivalent market value of BTMX that the user holds in the account. “Regular Trading” is simply not opting for either Mining or Reverse-Mining and conducting regular trades on the platform. Rules for Makers and Takers: A Taker is someone who places an order that is immediately filled fully or partially (for example, a market or stop order) before getting on the order book. A Maker is when a user places an order that doesn’t fill immediately partially or fully (such as a limit order) and sits on the order book waiting to be matched. Traders can select either Mining or Regular Trading mode for their Taker trades. For Maker trades, they can select one from Mining, Reverse-Mining, or Regular Trading mode. *Please note that additional details on fee calculations and mined token utilization will be published over the coming weeks. Mining Design Protocols This innovative new approach to mining and trading is built on a very comprehensive token creation and exchange operating framework that factors in all of the key elements of sound token economics design, including all of the following: Token production output control and target mining rate control to manage the sustainable rate of tokens being mined as part of supply. Managing liquidity: the rule design including very innovative structure to encourage liquidity provision type trading behavior Profit-sharing/allocation mechanism: Since BTMX tokens constitute a new form of utility value on the BitMax.io, for those token holders who agree to share transaction data, there will be further platform fee distribution to encourage them to continue holding BTMX. Mandatory lock-up for large sale order: This is

12 days ago

BitMax.io Launches Innovative Mining to Benefit Platform Traders

About BitMax.io BitMax.io is a global operator of innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space. The project’s roadmap has numerous user-friendly features, trader-focused services, and investment-grade solutions that can be used by crypto enthusiasts of all types. One of these, an innovative mining solution, will be launched, and first phase public testing of mining activities will go live on the BitMax.io platform on November 1st, 12 am EST. About BitMax.io’s Mining Leveraging their quant trading background and deep knowledge of the capital market, the team is working on introducing the transaction-fee based “Trans-Fee Mining” model that would distribute back the transaction fees to traders in the form of the exchange’s own token. The more traders trade, the more tokens they will receive, hence the term “transaction mining.” Furthermore, the team introduces specific incentive structure for market maker trades, the type of trading behavior adding liquidity to the exchange. This development has the potential to revolutionize crypto trade and exchange. Trading on Traditional Exchanges Traditional exchanges charge different rates from both makers and takers for using their platform, with both parties being deducted anywhere between 0.2% and 0.05% or so for each trade executed. This means that the more you trade, the more you pay to the exchange in transaction fees. Many big exchanges have profited heavily by following such models, but BitMax.io is bringing about a paradigm shift by making it easier for investors and private individuals to benefit from crypto trade and investment. With the trans-fee-mining model, users can save transaction fees and get platform tokens simply by executing trades on the BitMax.io exchange, regardless of market conditions, volatility, or other external factors. How Trans-Fee-Mining Works In the trans-fee-mining model, the BitMax.io trading platform uses an innovative utility token called BTMX. Instead of deducting a fixed percentage from all trades as trading fees, BitMax.io instead credits makers and takers with an equal value of BTMX. In this way, BTMX is mined as an outcome of regular trading. This not only conserves mining energy but also incentivizes trading regardless of external factors by providing traders with a new token (BTMX) that has a rich secondary market and can be used for future trading and other activities. This is a huge positive factor for traders who execute trades in times of market volatility. Furthermore, BTMX can be traded with other cryptocurrencies based on available trading pairs or can be cashed out to the user’s BitMax.io wallet. Additional Mining Specs BitMax.io’s rules governing mining and the creation and distribution of tokens are designed to ensure fairness and transparency. These rules are as below. Types of Mining “Mining” is the process where the traders pay transaction fees at a certain level and receive a certain amount of BTMX as a trading reward. “Reverse-Mining” is a separate unique incentive structure for the Maker trades, the process of the platform paying transaction fee at a certain rate in return for the equivalent market value of BTMX that the user holds in the account. “Regular Trading” is simply not opting for either Mining or Reverse-Mining and conducting regular trades on the platform. Rules for Makers and Takers A Taker is someone who places an order that is immediately filled fully or partially (for example, a market or stop order) before getting on the order book. A Maker is when a user places an order that doesn’t fill immediately partially or fully (such as a limit order) and sits on the order book waiting to be matched. Traders can select either Mining or Regular Trading mode for their Taker trades. For Maker trades, they can select one from Mining, Reverse-Mining, or Regular Trading mode. *Please note that additional details on fee calculations and mined token utilization will be published over the coming weeks. Mining Design Protocols This innovative new approach to mining and trading is built on a very comprehensive token creation and exchange operating framework that factors in all of the key elements of sound token economics design, including all of the following: Token production output control and target mining rate control to manage the sustainable rate of tokens being mined as part of the supply. Managing liquidity: the rule design including a very innovative structure to encourage the liquidity provision type trading behavior. Profit-sharing/allocation mechanism: Since BTMX tokens constitute a new form of utility value on the BitMax.io, for those token holders who agree to share transaction data, there will be further platform

12 days ago

Blockchain Smartphone Finney Set for Launch in November

On October 30, 2018, Switzerland-based phone maker Sirin Labs announced the launch dates of their much talked about blockchain smartphone dubbed Finney, which is to be backed by the legendary Argentine football star Lionel Messi. Unleashing the Power of Blockchain The Finney phone is being promoted as the world’s first blockchain smartphone. The Barcelona football star Messi has consented...

12 days ago

Crypto Enthusiast Builds Instant Bitcoin Vending Machine

Blockchain and cryptocurrency advocate Ricardo Reis has unveiled a vending machine that can accept Bitcoin payments through the Lightning Network. This is potentially a big deal: if transactions can be reduced to milliseconds then Bitcoin could suddenly go mainstream. This vending machine is as home-brewed and basic as it gets, but if one cryptocurrency advocate and maker can turn out something like this, then it can happen on a much bigger scale. Some experts believe that Litecoin, not Bitcoin, is the future of the Lightning Network. Reis has proved that Bitcoin payments can work, though, as he makes the transaction in as close to real time as we can hope for right now. He built the whole thing from a Raspberry Pi that plumbed into BTCPay Server, using source code taken from Pusher and hacked to suit. This was a collection of off-the-peg parts in terms of the hardware and software, and it didn’t take a development team to make this happen. I build a Coke vending machine that accepts Bitcoin payments through Lightning Network. I use @Raspberry_Pi, @BtcpayServer , @pusher YT: https://t.co/qVr3GDkitJ pic.twitter.com/anSmCYmIKM — Ricardo Reis ⚡️ (@ricardoreis007) September 30, 2018 Bitcoin simply doesn’t have the transaction speed to function in the real world as we all once dreamed it would. The Lightning Network changes that. It can boost Bitcoin’s few transactions a second to billions every day. What is the Lightning Network? The Lightning Network takes whole deals off the blockchain and parses them out, only reconnecting to the blockchain to confirm that the transaction is complete. Numerous transactions take place, but are simply recorded as one. Effectively, the Lightning Network lightens the load for the blockchain and takes the busy work off its severely strained back. It also takes the painfully slow transaction times that are part and parcel of the Bitcoin economy and reduces them to near instant confirmations. Others are working on different solutions to the same problem. Electroneum has an API that can reduce transaction times to almost nothing with a system if instant notifications that effectively confirms the deal can happen in real time. The actual transfer still takes time, but happens in the background. The Tech is Here, Now For Mass Adoption The simple fact is that the Lightning Network, at least in some form, works. It hasn’t been exploited yet, not by a long shot, but it is functional. If a single entrepreneur can create a vending machine like this, so can the big guns. That means the tech is already here for widespread cryptocurrency acceptance. Now we know there’s a way, we have to see if there is the will. The author is not currently invested in digital assets. The post Crypto Enthusiast Builds Instant Bitcoin Vending Machine appeared first on Crypto Briefing.

12 days ago

How to Short Bitcoin Without Losing Your Shirt And Your Savings

You can short bitcoin by borrowing BTC on Bitmex, Bitfinex or Poloniex with the intention of paying it back at a later date. Investors and traders can short other cryptocurrencies on these sites as well, such as Tron, XRP, Litecoin, Cardano, Bitcoin Cash, and 0x. Traders must pay an interest fee on the bitcoin that they borrow, and there is a borrowing limit depending on the size of your account and the amount of leverage that the exchange offers. The ability to ‘short’ cryptocurrency derives from the ability to borrow the coin. When an exchange allows a trader to enter short and long positions that is often referred to as allowing margin trading. This article will go over the basics of margin trading at a high level. What is margin trading? Margin trading is simply the ability to borrow an asset from a broker to fund trading (similar to a loan) which allows you to trade more of the asset than you normally would. This gives you what’s called “purchasing power.” For example, if I want to buy (long) 10 bitcoin and I only own 1 bitcoin then I can borrow 9 bitcoin from a broker and return it after I complete my trade. Margin trading increases your risk, which means you can win big, but lose even bigger - so it is incredibly important to do your own research before opening a margin account. There are two types of trades to make: Short: You are betting that the price of bitcoin will decrease. You borrow bitcoin from your broker and then sell it on the market with the intention of repurchasing the same amount at a lower price. For example, let’s assume bitcoin is currently trading at $6500 but I believe it will fall to $5500. I can borrow 1 bitcoin, sell it for $6500, repurchase the bitcoin at $5500, and then return the bitcoin to the lender. I’d profit $1000 from this 15% decrease in the asset. Long: You are betting that the price of bitcoin will increase and purchase bitcoin on the market with the intention of selling it at a higher price. A trader can make larger trades in both of these scenarios with what is called “leverage”. Leverage means taking on debt and is an investment strategy of using borrowed money to increase the returns on investment (ROI). The term “high leverage” refers to having a high ratio of debt (borrowed money) to equity (your money). Leverage magnifies gains and losses. Why is margin trading risky? Margin trading allows you to borrow someone else’s money to make a trade. This is referred to as increasing your purchasing power. You need to return that money regardless of the outcome of that trade. You can amplify your potential earnings, but you also amplify your risk. The epitome of that risk is referred to as getting “margin called.” A margin call occurs when your collateral (for example the bitcoin position you own) falls below the required minimum value. This minimum value changes depending on the amount of leverage you are using. For example, Bitmex offers 100x leverage. 100x leverage means that you can trade 100x your available balance. If you have 0.01 BTC you can trade 1 BTC, but if bitcoin drops 1% you get margin called and lose your 0.01 BTC. Here is a more sensible example of why margin trading bitcoin can be risky. Let’s assume you own 1 bitcoin, but want to short 2 bitcoin at 2x leverage and that the price of bitcoin is $6500. Scenario A: Bitcoin rises 50% to $9750 You get margin called and lose 100% of your investment. You used 2x leverage, which means a 50% move in the opposite direction gets you margin called; forcing you to buy bitcoin at $9750. Scenario B: Bitcoin falls 50% to $3250 You close your position and buy bitcoin at $3250, which earns you 100% return on your investment. Key Terminology Opening a margin trading account can be daunting because there are a lot of terms and jargon that investors may not be familiar with. The most popular site right now for margin trading is Bitmex, and key terms there are: Quantity: This may sound trivial, but futures products on Bitmex settle in bitcoins. Your order is for the amount of USD you want in bitcoins, or the number of units you want in altcoins. Mark Price: Current market price. Price is defined as the last agreed upon sale. This number is used to calculate your ROE (explained below). Liquidation Price: This is the price, based on the leverage you’ve used, where your position will be liquidated and you’ll lose your position to cover. Unrealised PNL: PNL stands for “profit and loss” and ROE stands for return on equity. Your PNL is calculated based on a scenario where you immediately exit the position at the mark price, and the ROE % is the percent gain on your initial position (not including what you borrowed). This value automatically updates on Bitmex as you buy/sell on a specific contract. Realised PNL: When you are in a position you may have to pay or receive interest every 8 hours. Your realised profit and loss is a calculation of the interest you’ve received or earned since opening that position.

12 days ago

Good news @blockfolio users: Maker is now using Blockfolio S...

Good news @blockfolio users: Maker is now using Blockfolio Signal! You’ll get updates directly from the team if you… https://t.co/oWmbKmxxnS

12 days ago

Crypto Wallet Producer Ledger to Support More Stablecoins , Expands Tether Usability

CoinSpeaker Crypto Wallet Producer Ledger to Support More Stablecoins , Expands Tether Usability Stablecoins, or in other words digital assets designed to minimize the price volatility being pegged to some stable assets including fiat currencies or exchange traded commodities, have been gaining popularity over the last years. Having realized this constantly growing demand for crypto assets with stable values, Ledger, the hardware cryptocurrency wallet maker, has taken a decision to add support for more stablecoins and to expand application of Tether (USDT) across all its products and services. Moreover, the company has announced expanding its presence to the Asia Pacific region, opening its office in Hong Kong. Ledger’s Support for Stablecoins At the current moment, Ledger has added support for Tether to its two handheld storage products: the Ledger Nano and Ledger Blue. However, they it has plans to increase the usability of this U.S. dollar-linked cryptocurrency across all their products and services. As it has been revealed, Ledger is going to add support for stablecoins to its Ledger Vault service, a multi-authorization cryptocurrency self-custody management solution which provides companies with IT infrastructure to manage their cryptos. As a result, custodians, asset managers and traditional financial services firmswill have a possibility to store and trade their digital assets. Some upgrades may be also introduced for the company’s Ledger Nano S, the most popular crypto hardware wallet in the world. The wallet is built off the same infrastructure as the Ledger Vault, supports more than 40 cryptocurrencies and allows users to check their accounts, send and receive cryptocurrency payments with minimized risks. Activity in the Asia Pacific Region As we have already mentioned now the company has its presence in Hong Kong. Benjamin Soong has been named as Head of Asia Pacific (APAC). The region has its specificity. Moreover, the increased company’s interest to stablecoins is partially related to a very positive attitude towards this kind of assets from the side of investors and traders namely in this region. While due to USDT’s recent loss of parity with the dollar a lot of concerns about the stablecoins reserves have been voiced, its supporters in the Asia Pacific region haven’t lost trust in it. Their demand for it is still very high. Speaking about the popularity of stablecoins in this region, Soong said: “One thing that is slightly unique in China and South Korea is the demand for USDT since both of those countries have capital controls, in terms of your ability to move currency out of the country.” Moreover, Soong also spoke about the company’s further plansfor growth and development: “We expect to grow quickly, and have already targeted future office expansion, including Tokyo, Seoul and Singapore. I look forward to building a world-class team that will help us accelerate our growth across Asia Pacific.” Other Projects and Innovations Ledger is one of the companies that are actively developing in the moment. Let us remind that just recently the firm has entered in a new partnership in the framework of which it will help Blockchain.com to release its first hardware product. Moreover, it is said that Ledger is actively adding support for the most popular crypto assets. It is expected that such assets as Cardano (ADA), Decred (DCR), IOTA, Lisk (LSK), RavenCoin (RVN), and Tezos (XTZ) will become available quite soon. Crypto Wallet Producer Ledger to Support More Stablecoins , Expands Tether Usability

13 days ago

ERC20 Tokens Fly While Ether Languishes

It is still too easy to see the cryptocurrency market has a single entity. A bull market creates a sea of green, whereas a bear drags all 2,081 tokens into the red. But this is changing. Price movements are diversifying. Even the ERC20 tokens, running off the Ethereum (ETH) network, are beginning to demonstrate independence. SANbase, a decentralized data and analytics tool provider, found price movements from three ERC20 tokens, 0x (ZRX), Maker (MKR) and Basic Attention Token (BAT), had diverged from the network’s native virtual currency, Ether. The tokens have all experienced palpable price surges since roughly the middle of September. The 0x price is up by 60% at the time of writing. Maker, the proprietary token that helps stabilize the DAI price, has nearly doubled in value (95% up) over the same timeframe. BAT meanwhile has increased by just under 50%. In comparison, the ether price has almost flatlined since the beginning of September. Following a near-uninterrupted slide since the start of May, ETH has hovered within a tight range just above the $200 mark in the past 90 days. It peaked at $240 towards the end of September, with a low at approximately $192 in mid-October. Crypto divergence from Ether Cryptocurrency prices used to be highly correlated because they were essentially influenced by the same factors. The market hemorrhaged $100bn when the SEC, America’s financial regulator, postponed its Bitcoin (BTC) ETF ruling in August; and a further $50bn when Goldman Sachs postponed its BTC trading desk. Ethereum has continued to battle longstanding problems. The platform’s core development team has yet to address its scalability limitations that have hamstrung further development. All the while facing increasing competition from rivals, including Cardano (ADA) and EOSIO (EOS). The three tokens - ZRX, MKR and BAT - have been subject to renewed investor interest over the past two months. Popular cryptocurrency exchange, Coinbase, announced in mid-October it would list 0x on its servers by the end of the week. This caused a price spike, with 0x trading at over $0.90, the highest it had been in more than two months. Maker’s sistercoin, the stablecoin DAI, was added to the decentralized predictions platform, Augur (REP) earlier this month. The American venture capital fund, Andreessen Horowitz also invested $15m into the team of developers behind the MKR project towards the end of September. BAT meanwhile mirrored ether’s price moves well into October. Rumors have been circulating that it could be listed on Coinbase. This is partly because it is an ERC20 token, which would make it easy to add from a technical perspective. ERC20 prices going their own way Although diversifying ERC20 prices from that of Ether might indicate a divergence, not everyone agrees. Mati Greenspan, the senior market analyst at eToro, argues investment decisions have rarely been swayed by the platform. He thinks that the quality of the project itself has always been the predominant factor. “If the project is good, people will invest in it regardless of which blockchain the tokens ultimately reside on,” he said. Crypto is becoming user-friendly. As it becomes integrated with the mainstream, the technical aspect will gradually slip from the public eye. Adopters want a functioning project. At an industry meet-up last week, figures from prominent projects admitted that the focus will shift away from technical discussions and decentralization debates, to utility. ERC20 prices are no longer apeing Ether. This is a sign the process has already begun. The author is invested in BTC and ETH, which are mentioned in this article. The post ERC20 Tokens Fly While Ether Languishes appeared first on Crypto Briefing.

13 days ago

Tron Ready with a New Game while First Fully-Featured DEX Achieves 16.5M TRX

The 11th largest cryptocurrency is all set with new developments as its first fully featured decentralized exchange (DEX) TronWatch Market is currently running on testnet. Meanwhile, a new game Coin War is also coming that is right now in beta phase. TronWatch Market & Coin War are Coming The very first fully-featured decentralized exchange (DEX) of Tron is soon going to enter the market as it ends its ICO sale that is touted to be simple, secure and decentralized. The official announcement reads, “We’re looking to build one of TRON’s first fully-featured decentralized exchanges. It will allow you to easily and securely trade between TRON, TRX10, and TRX20 tokens.” Currently running on testnet where all orders and trades will be validated, filled, and executed by their smart contracts. A number of bots are also actively trading on TronWatch Market. The user interface has the similar look and feel as of other exchanges that is clean and simple. As for order, the official blog post mentions, “Users can enter orders as limit orders, making it very easy to trade. When you submit an order, TronLink, the browser extension for TRON, will prompt you for confirmation. Market maker offers are stored off-chain and are made available immediately, while market taker orders are submitted directly to the TRON network for processing.” TronWatch Market has certainly gotten the attention of crypto community as it achieves over 16.5 MM TRX on SEEDgerminator. Congratulations to @TronWatch for achieving over 16.5 MM TRX on #SEEDGerminator. #Funding is now closed. The team is hard at work developing #TRON‘s first fully-featured #DEX. For project updates and to try the demo:https://t.co/qmUZoPwPuC#Blockchain #crypto #fundraiser pic.twitter.com/GEMqhwLqcr — Sesameseed #TRONSR (@sesameseed_SR) October 29, 2018 Weiss Crypto ratings also took to Twitter to acknowledge another feather in Tron’s capt: Tron has just released a market demo for TronWatch, #TRON’s first fully-featured #DEX. Demo currently runs on Testnet, all trades are using smart contracts. Most DEX are too cryptic for the average user and lack adoption. We’re hoping Tron can make a difference. — Weiss Ratings (@WeissRatings) October 29, 2018 Meanwhile, another development is coming into the form of a second game called Coin War. After the first game Magic Academy, that targeted the way players interact with the game, developers and other players, the new game is targeting prediction and finance both. Source, tron.app Based on financial prediction, the Coin War is by FCC team that will only support TRX betting, further allowing the users to choose the prediction target easily. Nasdaq, SSE index along with BTC, ETH, and TRX are part of the predictors. As for the TRX price, at the time of writing Tron has been trading at $0.0221 with a loss of 4.86 percent in tandem with the red market. The 11th largest cryptocurrency in the market currently has the market cap of $1.45 billion. The post Tron Ready with a New Game while First Fully-Featured DEX Achieves 16.5M TRX appeared first on Coingape.

14 days ago

Crypto Markets Move Again With a 6 Billion Dollar Dump

FOMO Moments The bears have awoken; Altcoins are dumping, only Maker, Nxt and Waltonchain survive. We have been waiting for some movement on crypto markets and it has finally arrived. Unfortunately in the wrong direction, however, and another dump has seen $6 billion shaved off cryptocurrencies as they plummet back towards $200 billion total capitalization. Bitcoin finally broke down and could not hold its support level resulting in a $150, or 2.4%, dive down to $6,340. The longer term consolidating channel is still intact providing BTC stays above $6,000 which seems likely at the moment. Ethereum followed suit and has lost 3.8% on the day dropping to $197. Altcoins, like the digital lemmings that they are, all jumped off the cliff in hot pursuit and the boards are red this morning in Asia. Taking the biggest hit has been Litecoin shedding 6% to fall below $50 for the first time since September 2017. Bitcoin Cash, EOS and Cardano have all lost between 4-5 percent at the moment and the rest are not far behind. The further down the chart we look, the greater the losses. In the top twenty Tron, Iota, Neo, Ethereum Classic, and Zcash have all dropped over 5% on the day. There is only one altcoin in the top fifty surviving the rout at the moment and that is Maker, posting a gain of 2.3% to trade at $628. There are no major pumps occurring but a couple of altcoins are surviving in the top one hundred at the moment. Nxt, Waltonchain and DigixDAO are all up 3-4 percent at the moment as their brethren suffers. The biggest losers over the past 24 hours are Revain, Komodo, Dentacoin, and Stratis dumping 9-11 percent overnight. Total crypto market capitalization has lost almost 3%, or $6 billion, since yesterday and is currently at $203 billion. Those that wanted the volatility back have got it, the bears are roaring again in crypto land. Altcoins have taken most of the brunt of the purge and Bitcoin dominance has crept back over 54%. The three month chart still looks flatter than a squished pumpkin. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Crypto Markets Move Again With a 6 Billion Dollar Dump appeared first on NewsBTC.

14 days ago

Maker ( $MKR ) and Distributed Credit Chain ( $DCC ) are now...

Maker ( $MKR ) and Distributed Credit Chain ( $DCC ) are now available on Kyber Network. These tokens are accessib… https://t.co/TycJo01lyz

15 days ago

“Please Be The First Car Maker To Accept Bitcoin” More Twitter Users Anticipate Elon Musk’s Arrival to the Crypto World

Ceo of Tesla and SpaceX, Elon Musk has once again left the twitter world in speculation ever since his anime picture tweet with a female wearing a Bitcoin tagged dress that preceded a “want to buy some Bitcoin?” tweet. Cryptocurrency users are currently in a frenzy and have since been clamoring for Musk to be the first car maker to accept Bitcoin. Replying to Elon’s tweet, Binance’s CEO Changpeng Zhao makes a remarkable proposal “Lol, it’s spreading” he says, “I will buy a Tesla if you accept crypto...I typed BNB first but switched it out. Let’s grow the industry.” Memes with CZ and Elon Musk have since been pouring in, one of which has Zhao and Elon in a Tesla car in space, with CZ, asking “Elon, when will Bitcoin moon?”. Crypto investor Tommy Mustache tweeted; “Elon, please consider accepting Bitcoins to buy a Tesla soon. Millions of crypto fans from around the world would love this option. You are always at the forefront of technology and progressive, so please be the first big car maker to accept Bitcoin.” In agreement to the tweet, users are even speculating that the “when Lambo” tradition of crypto investor cashing out to purchase a Lamborghini will be knocked out and replaced with users purchasing Tesla with Bitcoins, resulting in a Tesla sale increase. Elon Musk’s involvement in cryptocurrency has eagerly been anticipated by users and investors alike. In fact, last week, it was rumored that Elon Musk’s Boring Company was accepting payment for his $500 flamethrower in BTC, Ether, LTC, and BCH. Prior to the event, Elon teased that he “wanted Ether, even if it is a scam”. Although Musk has partnered with Jackson Palmer, the founder of Dogecoin to tackle cryptocurrency scam bots, it may be difficult to get him fully involved in cryptocurrency, considering his recent involvement with the SEC after being fined a whopping $20 million for allegedly misleading investors after his tweet on “taking Tesla private on a secure funding at $420”. Upon settlement, Musk revealed on Twitter in a reply to a curious user, saying the fine was “worth it”. The post “Please Be The First Car Maker To Accept Bitcoin” More Twitter Users Anticipate Elon Musk’s Arrival to the Crypto World appeared first on ZyCrypto.

15 days ago

Telegram users: we have opened up an official Maker telegram...

Telegram users: we have opened up an official Maker telegram group! Join the discussion with our community, ask our… https://t.co/43Yu0rAjNh

15 days ago

Wrapped BTC Is Coming to Ethereum

BTC is poised to make its Ethereum debut. An initiative involving several decentralized exchanges (DEXs) as well as crypto-custodians Bitgo will introduce ”BTC-backed” WBTC, with the W standing for “wrapped.” When WBTC launches in January 2019, it will enable ethereum-based ”bitcoin” to be traded on DEXs, boosting liquidity and opening the Ethereum ecosystem to a wider audience. Also read: Visa CEO Plays Down Cryptocurrency Threat, Indicates Possible Intervention Bitcoin Represented as an ERC20 Token Blockchains such as Bitcoin and Ethereum have always operated independently. While interoperability protocols have been under development for some time, achieving full compatibility between networks whose code is alien to one another is a complex task. The development of wrapped bitcoin does not mean that full synergy between bitcoin and ethereum has been attained. What it does mean is that BTC users can transact on ERC20 platforms using a native token that represents the bitcoin they’re accustomed to. As wbtc.network explains: “WBTC standardizes bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate bitcoin transfers ... The Ethereum network processes transactions faster than the Bitcoin network, but bitcoin holders don’t have to wait anymore. With WBTC, moving bitcoin between exchanges is much faster.” The initiative has attracted a host of major players from the worlds of Bitcoin and Ethereum. Led by Kyber, Republic Protocol and Bitgo, WBTC will launch with the aid of partners that include Airswap, Ddex, Hydrogen, Set Protocol, Compound, Maker, Dharma, Prycto, IDEX, Gnosis, Radar Relay and Blockfolio. The concept of wrapping a cryptocurrency to create an asset that is to all intents and purposes identical has already been trialled by the likes of 0x and Maker. The former’s Radar Relay and the latter’s DAI stablecoin both make use of WETH - wrapped ETH. More Convenience, Less Privacy Within the cryptoconomy, the only decentralized exchanges with any sort of meaningful volume all operate on the Ethereum network. IDEX, which is supporting WBTC, is the largest DEX by a wide margin. Should wrapped bitcoin prove successful, the exchange and others like it can expect a significant influx of liquidity as bitcoin-holders enjoy the convenience of WBTC over the laboriousness of needing to trade BTC for ETH before they can participate. That convenience comes at a price however. As wbtc.network explains: To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC/AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. The prospect of requiring KYC to obtain an ERC20 token to trade on a decentralized exchange will be anathema to many of the individuals inclined to use such a platform. It is unclear whether there will be any other means to obtain WBTC without being forced to undergo KYC. The potential use cases for wrapped bitcoin include enabling dapps to accept bitcoin payments “for lending protocols, funds, prediction markets and token sales.” The benefits offered by ethereum-compatible bitcoin are manifold. The drawbacks, however, may be too much for the privacy-conscious to countenance. Would you use WBTC? Let us know in the comments section below. Images courtesy of Shutterstock and wbtc.network. Need to calculate your bitcoin holdings? Check our tools section. The post Wrapped BTC Is Coming to Ethereum appeared first on Bitcoin News.

17 days ago

Wrapped Bitcoin Is Coming to Ethereum

Bitcoin core is poised to make its Ethereum debut. An initiative involving several decentralized exchanges (DEXs) as well as crypto-custodians Bitgo will see BTC become WBTC, with the W standing for “wrapped.” When WBTC launches in January 2019, it will enable ethereum-based bitcoin to be traded on DEXs, boosting liquidity and opening the Ethereum ecosystem to a wider audience. Also read: Visa CEO Plays Down Cryptocurrency Threat, Indicates Possible Intervention Bitcoin Becomes an ERC20 Token Blockchains such as Bitcoin and Ethereum have always operated independently. While interoperability protocols have been under development for some time, achieving full compatibility between networks whose code is alien to one another is a complex task. The development of wrapped bitcoin does not mean that full synergy between bitcoin and ethereum has been attained. What it does mean is that BTC users can now transact on ERC20 platforms using a native token that represents the bitcoin they’re accustomed to. As wbtc.network explains: “WBTC standardizes bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate bitcoin transfers ... The Ethereum network processes transactions faster than the Bitcoin network, but bitcoin holders don’t have to wait anymore. With WBTC, moving bitcoin between exchanges is much faster.” The initiative has attracted a host of major players from the worlds of Bitcoin and Ethereum. Led by Kyber, Republic Protocol and Bitgo, WBTC will launch with the aid of partners that include Airswap, Ddex, Hydrogen, Set Protocol, Compound, Maker, Dharma, Prycto, IDEX, Gnosis, Radar Relay and Blockfolio. The concept of wrapping a cryptocurrency to create an asset that is to all intents and purposes identical has already been successfully trialled by the likes of 0x and Maker. The former’s Radar Relay and the latter’s DAI stablecoin both make use of WETH - wrapped ETH. More Convenience, Less Privacy Within the cryptoconomy, the only decentralized exchanges with any sort of meaningful volume all operate on the Ethereum network. IDEX, which is supporting WBTC, is the largest DEX by a wide margin. Should wrapped bitcoin prove successful, the exchange and others like it can expect a significant influx of liquidity as bitcoin-holders enjoy the convenience of WBTC over the laboriousness of needing to trade BTC for ETH before they can participate. That convenience comes at a price however. As wbtc.network explains: To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC/AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. The prospect of requiring KYC to obtain an ERC20 token to trade on a decentralized exchange will be anathema to the sort of individuals inclined to use such a platform. It is unclear whether there will be any other means to obtain WBTC without being forced to undergo KYC. The potential use cases for wrapped bitcoin are extensive, including enabling dapps to accept bitcoin payments “for lending protocols, funds, prediction markets and token sales.” The benefits offered by ethereum-compatible bitcoin are manifold. The drawbacks, however, may be too much for the privacy-conscious to countenance. Would you use WBTC? Let us know in the comments section below. Images courtesy of Shutterstock and wbtc.network. Need to calculate your bitcoin holdings? Check our tools section. The post Wrapped Bitcoin Is Coming to Ethereum appeared first on Bitcoin News.

17 days ago

Blockchain Announces Lockbox, a Hardware Wallet Developed in Partnership with Ledger

Leading software provider for digital currencies, Blockchain has launched a new custom hardware device called Blockchain Lockbox, built in partnership with hardware wallet maker Ledger. The device will be compatible exclusively with the Blockchain Wallet and will allow simple and secure storage of crypto assets offline. First of Its Kind Hardware and Software Integration The new Blockchain Lockbox device will only be compatible with the Blockchain Wallet. It is a first-of-its-kind integration of a software and hardware wallet. The device will offer 30 million users of Blockchain secure, cold storage powered by Ledger’s hardware excellence. Cold storage refers to a way of storing cryptocurrencies offline, especially when using a secure hardware device. It is considered the safest method of storing cryptocurrencies as it prevents breaches and hacks seen on online ‘hot’ wallets. Ledger is one of the top hardware wallet makers in the world. Ledger’s security could be vital to providing Blockchain customers added protection, as acknowledged by the co-founder and CEO of Blockchain, Peter Smith. He said: “The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly.” Ledger’s Security in a Unique Wallet The security of a cold hardware wallet like Ledger could be crucial in protecting the cryptocurrency holdings of users from prying eyes. Pascal Gauthier, President of Ledger, emphasized the importance of security for crypto holders. He said: “With stories about crypto hacking continuing to dominate headlines, it’s obvious that security must be top of mind for all stakeholders in the crypto space. With the combined forces of Blockchain and Ledger, users are truly getting the best of both worlds. Our partnership with Blockchain is the first of its kind, but as two companies hyper-focused on crypto security, it’s one that’s a natural fit.” The Blockchain Lockbox device is available by pre-order which started on October 25. Deliveries for the same will begin in mid-November. Customers who register early will receive the special edition blue version of the Lockbox. Those who already own the Ledger Nano S device will be able to integrate it with the Blockchain Wallet as well. Blockchain Announces Lockbox, a Hardware Wallet Developed in Partnership with Ledger was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

17 days ago

IPO Seems to be the New Buzzword Amidst Crypto Companies Bitfury May Consider Going Public

IPO seems to be a major milestone for crypto business now. After Bitmain’s IPO news, Ran Neuner spilled the beans of Coinbase preparing for an IPO. And now according to latest updates, received Cryptocurrency mining firm Bitfury is considering an initial public offering. Bitfury could launch Europe’s first major crypto IPO According to the news published by Bloomberg, Cryptocurrency-mining startup Bitfury is weighing strategic options including an initial public offering in what could be Europe’s first major listing in the industry, according to people familiar with the matter. The blockchain-technology company is exploring a range of options and could decide to raise debt financing or sell a minority stake, the people said. The is no official announcement made as sources say no final decision has been made yet. If Bitfury goes public in the next two years, it could seek a valuation of $3 billion to $5 billion, though numbers are early estimates and could change depending on markets and the industry, the people said. Bitfury’s revenue is a fraction of the sales generated by Bitmain Technologies Ltd., the Beijing-based virtual currency mining firm that filed for an IPO in Hong Kong last month. The industry giant may raise as much as $3 billion, people with knowledge of the matter said in August. The companies operate in a volatile market where prices hit a peak last year before a more than $600 billion out in digital assets this year. Bitfury, a maker of crypto-mining gear that was founded in 2011, posted revenue of about $450 million for the 12 months through March. Chief Executive Officer Valery Vavilov and co-founder Valery Nebesny share a majority stake in the company, Vavilov has said previously. Where Bitfury stands out in its offering is, that it has garnered attention in recent months for its capabilities in keeping its super-fast machines cool by submerging the computers in a non-conductive liquid at a plant in Georgia and at another data centre it’s expanding. Since its inception as a Bitcoin miner, the London and Amsterdam-based firm has also ventured into other businesses involving blockchain technology, which was developed to keep a digital ledger of cryptocurrency transactions. It also makes computer chips for mining machines, as well as software and counts large institutions, companies and governments among its client base. As far as the investors are concerned, crypto businesses are slowly gaining traction. It is believed these IPO’s could be overscribed backed on the investment interest shown by hedge funds, family offices and trading firms in the past few months The traditional financial industry has slowly but gradually started recognizing cryptocurrencies as a viable asset class as its mainstream popularity continues to escalate. The success of these IPO’s would solely rely on this popularity boost even though the industry still awaits a regulatory framework. Is IPO a better way for crypto businesses to raise capital? Do let us know your views on the same. The post IPO Seems to be the New Buzzword Amidst Crypto Companies Bitfury May Consider Going Public appeared first on Coingape.

17 days ago

Blockchain Launches Hardware Wallet

The popular cryptocurrency software provider Blockchain has announced the launch of a custom hardware wallet that is exclusively tethered to the company’s flagship wallet. According to the development team behind the new hardware wallet called Lockbox, the firm collaborated with the wallet manufacturer Ledger in order to create the design. Also read: SEC Suspends Trading in Company Over False Cryptocurrency-Related Claims Blockchain Launches a Hardware Wallet Called Lockbox The cryptocurrency and distributed ledger software provider Blockchain has announced the launch of a new hardware wallet called Lockbox. Launched in August 2011, the company has provided a variety of data services and a non-custodial wallet product that’s seen 29.5 million wallets created over the years. With the Lockbox hardware wallet, the device is fully compatible with the firm’s wallet software and users are able to benefit from both services. The well-known hardware wallet maker Ledger worked with Blockchain in order to create the wallet’s design and custom firmware. Lockbox is not compatible with other Ledger platforms like the Ledger Live application. “We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. Peter Smith, CEO, and co-founder of Blockchain stated during the announcement. “We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly.” The President of Ledger, Pascal Gauthier, also explained that these days stories about cryptocurrency hacks “continue to dominate headlines.” “It’s obvious that security must be top of mind for all stakeholders in the crypto space,” Gauthier emphasized. Additionally, being FIDO certified, the Lockbox device can be used as a secondary security key for Dropbox, Google applications, Github, and more. Similar to the Nano But Connects With Existing Blockchain Wallets Blockchain’s Lockbox is $99 and available for pre-order beginning on Oct. 25 and the company is accepting BCH, BTC, Paypal, Visa, and Mastercard for purchases. From the looks of it, the Lockbox is almost identical to the Nano. In contrast, the Lockbox is sized at 98mm x 18mm x 9mm but is blue with a Blockchain logo. The Blockchain Lockbox custom firmware is compatible with Windows (7+), Mac (10.9+), Linux or Chrome operating systems. However, just like the Ledger Nano, the application requires the owner to use Google Chrome or Chromium. A glance at the product’s webpage, the language suggests Blockchain believes the new Lockbox is a secure product that can go head-to-head with the competitors like Trezor and Keepkey. “Our dual chip architecture guarantees cryptographic protection so you can store your crypto worry-free. Your private keys stay protected behind your secret PIN,” the website states. Hardware wallet popularity has grown exponentially since last year’s bull run and the thousands of cryptocurrency thefts that took place over the years. 2018 has seen a few new entrants in the hardware wallet space such as the Coolwallet and the latest Ellipal wallet. The new Lockbox comes with all the standard items most of the others come with, including a USB cord, mnemonic phrase card, and instructions. Blockchain also has a Lockbox support web page created for those who want to learn about the setup process. The company says it takes only a few steps to connect an existing Blockchain wallet to the Lockbox device. What do you think about Blockchain launching a hardware wallet with custom firmware that works with Blockchain wallets? Let us know what you think about this subject in the comments section below. Images via Shutterstock, Pixabay, and Blockchain. Need to calculate your bitcoin holdings? Check our tools section. The post Blockchain Launches Hardware Wallet appeared first on Bitcoin News.

17 days ago

Our @nanexcool at #cryptolife hackathon talking about Maker ...

Our @nanexcool at #cryptolife hackathon talking about Maker contracts and sharing how Dapptools enable you to write… https://t.co/GiotAZna4Y

18 days ago

Welcome @Davidutro to the Maker team! ...

Welcome @Davidutro to the Maker team! https://t.co/t4LE3yeDM0

18 days ago

Will you be at @EFDevcon? We'll see you there! Here's a list...

Will you be at @EFDevcon? We'll see you there! Here's a list of what the Maker team is up to during the event, incl… https://t.co/ndKUtzyZan

18 days ago


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