Revain R

$0.2033
Market Cap $ 78.140 MM (#74)
24h Volume $ 2.693 MM
Chg. 24h: -2.79%
Algo. score 3.8/5  (#96)
Show Quick Stats

Revain News

Daily Crypto Roundup 11/12/2018

Crypto predictions from January, crypto VR application, more crypto fraud, discussion on China’s relationship with crypto, and Bitfinex raising withdrawal fees. Catch up on today’s news! Eerily Accurate Crypto Predictions From January 2018 December 2017 and January 2018 can be labeled as overwhelmingly exuberant in terms of market sentiment and price gain. Thinking clearly is difficult during these times. But one crypto OG saw through the hype, making excellent predictions for the year. Ryan Selkis, aka TwoBitIdiot, wrote a report called the 95 Crypto Theses for 2018. Perhaps the most accurate prediction among many relevant topics, was his call for a “coming 99% off sale”. Many altcoins have seen 80-90%+ drops in price this year. Making this call during exuberant times was admirable. Read on Crypto Insider Decentralizing A Billion-Dollar Virtual Industry Bitcoin creator Satoshi Nakamoto envisioned Bitcoin changing the landscape of the virtual gaming world (among other use cases of course). However, the Ethereum network has taken the reigns in making this a reality lately. Decentraland is “an open-world VR platform that will allow users to create their own reality”, reports Crypto Insider. The game includes virtual real estate speculation and property purchasing. The game uses MANA, an Ethereum based token, for purchasing this virtual land. Decentraland also partnered with peer-to-peer crypto lending network Ripio. Read on Crypto Insider CFTC Fines Bitcoin Trader $1.1 Million For Crypto Fraud Another crypto fraud case hits the media as the U.S. Commodity Futures Trading Commission (CFTC) catches a scammy crypto trader. According to the CFTC press release on Friday, Joseph Kim of Arizona is required “to pay more than $1.1 million for a fraudulent Bitcoin and Litecoin scheme”. He was also given 15 months prison time. Kim organized a Bitcoin and Litecoin scam “that led to more than $1 million in losses, of which Kim misappropriated more than $600,000”, stated the CFTC press release. CoinDesk explains the trader siphoned Bitcoin and Litecoin from a trading firm at which he worked back in the fall of last year. Kim also criminally received significant customer funds late last year as well as earlier this year. Read on CoinDesk Skirting The Great Wall, Part Three: The Paradox Of Cryptocurrencies In China Over the past several years, China has made itself known for crypto bans and regulation. So far this month, China has expanded its anti-ICO stance, grouping airdrops into the banned category. CoinTelegraph details a report questioning crypto’s current use in China, amidst such regulation. Read on CoinTelegraph Bitfinex: New Fee Policy Suggests $30,000 Fee To Withdraw $1 Million Bitfinex is one of the most popular exchange names in the crypto space, despite rumors of suspicious activity. The exchange saw over $1 billion worth of fiat withdrawals over the course of last month, according to a report by Bitcoinist. Bitfinex made an announcement yesterday with its plans for a new fee set up. “Customers making more than $1 million, or two fiat withdrawals within any 30-day period, will incur a three percent fee”, reported Bitcoinist. Read on Bitcoinist The post Daily Crypto Roundup 11/12/2018 appeared first on Crypto Insider.

36 minutes ago

SBI Ripple Asia demoed MoneyTap, a real-time payments app po...

SBI Ripple Asia demoed MoneyTap, a real-time payments app powered by Ripple, at @sgfintechfest and discussed how it… https://t.co/q4afr7P6yl

an hour ago

Study Suggests Private Blockchain Compatibility with GDPR

A newly-published research by Queen Mary University, London suggests that private blockchains could be compatible with European Union (EU) privacy laws, especially the General Data Protection Regulation (GDPR) passed this year. While cryptocurrencies were heavily scrutinized in the study for privacy implications, various other applications of Distributed Ledger Technology (DLT) such as private blockchains were also put under a microscope. In the extensive research, different aspects of blockchain networks, their nodes and other entities were studied with regards to the extensive GDPR legislation. According to the findings, DLT technologies could fall under its rules if they store private information of EU citizens publicly on the chain and allow third parties to operate it. According to the research: “There is a risk that this legal uncertainty will have a chilling effect on innovation, at least in the EU and potentially more broadly. For example, if all nodes and miners of a platform were to be deemed joint controllers, they would have joint and several liability [sic], with potential penalties under the GDPR.” However, to fall under the legal definition, blockchain operators could be treated like processors instead. The concept is borrowed from cloud storage companies who act on behalf of users rather than controlling their data themselves. But, most of the research is based on Blockchain-as-a-service model where the company provides a DLT-based infrastructure for the users. The study quotes similar examples from centralized land registry forms and private inter-banking solutions that have a small number of nodes as part of the network. However, complying with the GDPR is overall cited as tricky for companies especially the ones involved with cryptocurrency mining and wallets. At the end of the research, the study group urges the European Data Protection Board to issue clearer guidance on data protection in the future to make things easier to comply. The GDPR legislation is one of the most stringent privacy regulations passed in recent times and applies to all participating members of the European Union, as well as entities interacting with EU citizens. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pexels.com The post Study Suggests Private Blockchain Compatibility with GDPR appeared first on BitcoinNews.com.

an hour ago

Ripple Lawsuit Twists Again: Crafty Class Action U-Turn Could Favor Defendants

Claiming that XRP isn’t a security might be a long shot, but Ripple’s lawyers have shown themselves more than capable of pulling a legal hat-trick. In the latest chapter of the XRP courtroom drama, the company behind the third-largest cryptocurrency successfully removed the combined class action suit to Federal court, where the class action suit will be decided on a Federal level. Attorneys for Ripple Labs, XRP II and other defendants successfully removed the suit from San Mateo Superior Court to the US District Court in San Francisco, according to court documents filed last week. Arguing on behalf of the defendants, litigation partner Peter Morrison argued that because of their size and scope, the class action suits against Ripple could be removed to Federal court: The actions were consolidated from several separate cases: Greenwald v. Ripple, Zakinov v. Ripple, and Oconer v. Ripple. Another suit, Coffey v. Ripple, was voluntarily withdrawn earlier this year. “Pursuant to [The Class Action Fairness Act],” Morrison argued, a putative class action may be removed to the appropriate federal district court if (1) the action purports to be a “class” action brought on behalf of 100 or more members; (2) any member of a class of plaintiffs is a citizen of a state different from any defendant; and (3) the amount in controversy exceeds $5 million. Because the class action against Ripple was consolidated from several substantially similar suits, “This action meets each of those requirements,” Morrison wrote. The class actions were launched on behalf of XRP investors, who purchased the token in secondary markets and lost out when prices crashed. The plaintiffs allege that XRP should have been registered as a security, and that executives manipulated XRP prices to maximize Ripple’s profits. While the affair is still far from trial, Morrison was able to get a parting shot into the introduction: Plaintiffs do not allege that they lacked information about the nature of these transactions. Nevertheless, Plaintiffs claim that they were somehow injured because Defendants were allegedly required to register XRP as a“ security” with the Securities & Exchange Commission (“SEC”) but failed to do so. The move to Federal court may seem a confusing one, especially after the Greenwald and Coffey affairs were remanded from Federal courts. However, legal commentators remarked the “tactical brilliance” of the Ripple counsel, in successfully moving the consolidated lawsuits to Federal and presumably friendlier courts: Ripple's legal team showing some tactical brilliance here. It's hard to explain the procedural maneuver in one tweet & I'm not going to thread this, but suffice to say it's a *seriously* crafty attempt to go federal. Might not work, but slick regardless.https://t.co/DuR5kWNJwy — Jake Chervinsky (@jchervinsky) November 9, 2018 While experts might be able to spot the legal ramifications of the decision, the rest of us will have to wait to see how the drama unfolds. But since Ripple Labs recently hired former SEC Chair Mary Jo White to join their legal team, it would seem likely that the decision to remove the case to Federal court will have been scrutinized by their best assets - and that this, in their experts’ opinions, moves them closer to dismissal. Whatever the outcome, the final judgement in the suit is likely to perpetuate the ongoing Ripple effect throughout the crypto space; a determination that XRP is a security could bring legal repercussions not only against Ripple Labs, but also against exchanges and secondary markets in which the token was traded. The author is invested in XRP. The post Ripple Lawsuit Twists Again: Crafty Class Action U-Turn Could Favor Defendants appeared first on Crypto Briefing.

2 hours ago

You can now store your SmartCash on @Trezor Make sure to do...

You can now store your SmartCash on @Trezor Make sure to download: https://t.co/nWc0hKOUnn https://t.co/uf13dAeqnG… https://t.co/TDGZ18DhDT

2 hours ago

Bitcoin Cash [BCH] proponent: DSV changes it from being something that is effectively legal

Craig Wright aka Faketoshi, a strong believer of the Bitcoin Satoshi’s Vision implementation for the Bitcoin Cash [BCH] blockchain, recently appeared on a video hosted by Tone Vays, a Bitcoin proponent, to speak about the upcoming hard fork, which is scheduled on November 15, 2018. Wright started off by speaking about block size. He remarked that there should not be a block size and that the original version of Bitcoin also does not have a block size. He went on to say that Bitcoin did not have an economic value in its initial stages. Wright said: “It was added as a temporary measure only because there was no economics in Bitcoin. You couldn’t even buy two pizzas with 50,000 Bitcoin at that stage, really, I mean there were occasional exchanges of silly things like that but the reality was there was no economic value to Bitcoin” He continued to say that this is actually an attempt to change the protocol. Wright further spoke about the opcode the Bitcoin ABC team wants to add, OP_CHECKDATASIGVERIFY [DSV]. The self-proclaimed Satoshi Nakamoto said: “If you consider the things like DSV and whatever else, is not part of Bitcoin and everything that we’re doing is the original Bitcoin re-enabled. That’s the distinction. So the difference they want in saying that DSV should be there, is the addition of something that changes Bitcoin from effectively something that is legal in every single country on earth contrary what you see in the press” Wright added that there has not been any country which has had “Bitcoin illegal ever”. According to him, DSV alters everything and would create a bucket shop. He went on to say: “Now, that creates a bucket shop, is what it’s known under law. It was actually first taken up in the Supreme Court in the US in 1906. It’s an illegal derivative trading for our platform and we just saw finally a DEX being shut down by the SEC and others will. Wright stated that people do not understand that Bitcoin is a settlement engine, the central nodes, the miners are settlement and that P2P means that two people transact together, without any machine. He said: “P2P means you and I transact together now this idea of it’s decentralized trade, you and I transact together there’s no machine here so there’s always a person involved and as soon as you do that, you alter the nature of the system it’s no longer fungible because fungibility is not a technical issue it is a legal issue.” He continued to say that once there is any transaction which contains the DSV, it would be a breach of the law. This would effectively mean that it will no longer be valid in America, UK, China and other countries, he added. Moreover, people will not be allowed to carry this forward without being registered and a miner will have to break the law in order to valid a transaction. Wright further added: “it’s different to something in script where someone can script a code and link to an external server that’s completely and utterly different. So there is a difference between building something into a software platform or having a code language that allows you to build something and people don’t seem to get this differentiation.” The post Bitcoin Cash [BCH] proponent: DSV changes it from being something that is effectively legal appeared first on AMBCrypto.

2 hours ago

Ripple Takes Investors’ Class Action Case Against XRP To Federal Court, Lawyers Expect A Walk In The Park

Over the last few months, XRP has been in the news for good reasons, especially given Ripple’s recent accomplishments. Ripple has managed to launch various revolutionary financial solutions and woo a good number of banks to the RippleNet. However, there have been instances where people have gone to court against the company. The latest is a case that Ripple has moved to remove from the State Court. The Case Against Ripple The case involves a number of investors who have filed a class action suit against Ripple. In the case, the plaintiffs argue that Ripple failed to register XRP as a security prior to its entering the market, and that their investments in the said token has caused them losses. The plaintiffs also accuse the company of manipulating XRP prices. They demand a $5 million settlement. Why Ripple Wants To Argue Its Case In A Federal Court According to the lawyer representing Ripple Labs, the case qualifies to be argued in a Federal Court as opposed to the current State Court. Peter Morrison quoted provisions of the Class Action Fairness Act as the reasons for seeking a remove of the case from the State Court. The act qualifies a case to be heard in a federal court if: The case in question involves 100 or more complainants. The plaintiffs come from different states. The settlement amount is $5 million or more. On this basis, the lawyer argues that the case qualifies to be moved to a federal court. In fact, one of the investors involved is an Israeli citizen. What The Lawyers Think According to Jake Chervinsky, a litigation attorney, the move by Ripple’s legal team to move the case to a federal court is a smart one. In his view, the fact that the team is seeking such a move indicates that they see better odds of winning in a federal court. Also, there’s a general consensus that Ripple stands a better chance if the case goes federal, especially given that Federal Courts have been known to favor corporate defendants. What A Win Means For XRP On its part, Ripple has always maintained that XRP is not a security and that the company and the cryptocurrency are separate entities. However, that hasn’t deterred critics who view XRP as not entirely decentralized - given that Ripple mined it before releasing it into the market. Also, Ripple retains a good percentage of XRP tokens. The company has since clarified that the cryptos are held in an escrow system and only one billion XRP tokens are released every month to fund the XRP ecosystem. A win by Ripple would cement the company’s position that XRP isn’t a security token. In fact, it would be the first time a clear legal definition of the cryptocurrency would be made. If that happens, XRP could strengthen its foothold in the crypto market and possibly boost its trading volume as more investors jump in. The post Ripple Takes Investors’ Class Action Case Against XRP To Federal Court, Lawyers Expect A Walk In The Park appeared first on Ethereum World News.

2 hours ago

Fantom (FTN) Announces Strategic Partnership with Large Japanese Real Estate Firm

Fantom (FTM), a DAG-based smart contract platform for real-time cryptocurrency payments, recently announced a new strategic partnership with Tosei, a real estate firm that currently manages approximately $5.5 billion in assets. Tosei plans to use Fantom’s Opera Chain to upgrade its system which provides services like tracking materials and storing property ownership contracts. The partnership also seeks to spread the use of the Fantom platform and tokens throughout local businesses and corporations in Japan that deal with real estate development, rental management and consulting services. (JF)

2 hours ago

Daily Cryptocurrency News - 12th November 2018

Here are the most important headlines of 12th November 2018 in the cryptocurrency space: IOTA Invited To The Frankfurt European Banking Congress, Bosch & IOTA Explained It seems like IOTA will have a productive November. Among the top speakers from the financial sector - there’s also a representative of IOTA. Dominik Schiener, the Co-founder of IOTA token will talk at the Economic Congress Germany. The topic of the discussion will be about the chances of DLT for companies - more exactly: The Blockchain Revolution - a Business Opportunity?. The news were officially reported by Sueddeutsche.de - a well known news website from Germany. These could be great news for IOTA - as Dominik is among the few speakers not working in the Financial sector only. Besides, this could be a great opportunity for IOTA to establish partnerships with multiple German businesses and grow IOTA to its full potential. Moreover, Bosch recently launched an article explaining everything that a person need to know about IOTA, XDK2MAM and Bosch XDK. In that article, Bosch explains how an ecosystem development bridges IOTA and the XDK. More details can be found in the Bosch’s article about IOTA and Bosch XDK. Decentralized Exchanges - The Latest SEC Victim As you may know, SEC doesn’t really like ICOs. But now, they move forward to another cryptocurrency related service - the decentralized exchanges. According to the U.S. Securities and Enforcement Commission, there was a chage of $400,000 against Zachary Coburn - the founder of EtherDelta. The reason for this was the fact that a decentralized exchange mainly ‘sells the same kind of tokens as the ICOs - the ERC20 tokens’ and SEC considers those as being ‘unregistered securities’. Coburn didn’t complained about this, and decided to pay the settlement fee. But this is the first time something like this happen on a decentralized exchange - and as SEC hinted: there are many others to follow. The Coburn’s cooperation lead to no other greater penalty - but left the cryptocurrency world asking - is this the end for decentralized exchanges? what strikes me most about the @SEC_News action against @EtherDelta is:- small disgorgement of $300k- only $75k penalty for operating unregistered exchange w >3M trades- co-operation listed as reason for not penalizing further overall, seems very ... positive? pic.twitter.com/ypmdOGSO6N — Meltem Demirors (@Melt_Dem) November 8, 2018 Probably not. But the future isn’t so bright for the decentralized exchanges - as most of them now need to implement a KYC procedure and delist any token with a security-like property. ShaepShift and IDEX became the first ones that adapt with this news, introducing KYC rules to their peer-to-peer exchanges. Even if the decentralized exchanges will still be active in the future, the fact that the anonymity part will disappear is not bringing any joy to the crypto communities. Japan’s GMO - Massive Q3 Performance on Crypto-Related Businesses The Japanese GMO launched its Q3 report today, 12th November 2018. Even though the market seems to be on a lower level than last year’s bull run - the cryptocurrency part of GMO is growing steady. To summarize it: The mining equipment production and the crypto exchange brought 2.6 Billion yet in revenue ( $22.8 Million) - only in the Q3 part of this year, at only 1 year since they launched it. GMO coin - an exchange platform launched by GMO - now have 208,000 users trading about 89 Billion yen ( $781 million) only in October The profit is up 34.4% , speaking from a quarter on quarter basis The October mining hashrate was 674 petahash per second (PH/s) - but they’re planning to reach 800 PH/s until the end of 2018 Company changed their ticket from GJY to GYEN GMO also reported the creation of the cryptographic stablecoin in early October - available for international trading in 2019. This stablecoin will be tied to the JPY pair - being the first one in its existence. More details about GMO can be found in the ‘GMO Q3 Report‘ The Coinbase Bull Effect - Zcash, Stellar & Cardano Slowly Increase In Value After the successful listing of 0x and BAT - Coinbase is now preparing to list ZEC, XLM and ADA.This lead to an increase in trading volume as well as a small increase in price for these cryptocurrencies, as investors are preparing for the Coinbase listing effect - a small bull run followed by a slow decrease. Since 0x was listed on Coinbase, Cardano (ADA) saw an increase in price from $0.069 to an high of $0.08 and is now trading at $0.076 - with a 1% increase for today. The trade volume for Cardano (ADA) for today is a $24.7 Million - a massive increase from the $13-$18 million prior to 0x being listed to Coinbase. Stellar Lumens decreased to $0.20 on the date when 0x was listed to Coinbase, but increase by 20% in only a matter of days. Stellar Lumens reached today a peak for October and November, reaching a value of $0.284 - a 30%+ increase since 0x was listed on Coinbase. The trading volume

2 hours ago

Ethereum Developer: Serenity Is Moving Really Fast, Sharding By 2020

Ethereum’s Scaling Qualms Ethereum, officially launched in 2015, was first lauded as a decentralized, open-source, and public platform that would allow for on-blockchain computing and data processing. And as such, the project, which touted its blockchain as a so-called “world computer,” quickly garnered traction from every corner of the crypto industry. In a testament to its rapid rise to prominence, Ether, the native digital asset of the Ethereum ecosystem, quickly bounded past a majority of altcoins to firmly situate itself in the crypto market’s top 10. But as the network’s ecosystem swelled, seeing an influx of active users and daily transactions (think CryptoKitties), it became apparent that Ethereum’s Proof of Work (PoW) consensus mechanism, which was partially parented by Satoshi Nakamoto’s SHA256 system, wouldn’t stand the test of time. This looming issue, of course, was foreseen by the project’s most dedicated contributors, leading many crypto-centric developers and researchers to dedicate hundreds of hours towards solving the network’s most pertinent concern — scalability. Taking to Devcon4, the most important event on Ethereum’s calendar, Ran NeuNer, the showrunner for CNBC Africa’s Crypto Trader show, spoke with Justin Drake, a researcher for the Ethereum Network and its protocols, about scalability qualms. Ethereum 2.0 — The Future For Blockchain “Ethereum 2.0” is likely a buzzword that you, a crypto enthusiast, have heard thrown incessantly about by many on Crypto Twitter. But what is it, and what does it mean? Well, as explained by Drake, 2.0, dubbed “Serenity” by most: “Contains various new radical ideas. Part of it is around a move from Proof of Stake (POS) away from POW. And the other big idea is sharding, so scalability — having a thousand shards compared to just one shard.” For those who are unaware, sharding is a technical term used to describe splitting up digital data sets into so-called “shards.” In the case of decentralized networks, developers propose that sharding can be used to make consensus mechanisms more efficient, allowing for higher transactional/data throughput. However, while sharding is undoubtedly a game-changer, many have criticized the project’s developers and community for being slow. Drake touched on this, claiming that there have been “mistakes” and “over-promising,” chalking the delays up to miscommunication and “underestimating the complexity of things.” Although these statements paint a dark picture for Ethereum’s short- to mid-term future, Drake went on to add that “in reality,” research for Serenity has been chugging along just fine, adding that researchers have continued to propose better and better designs. In short, Drake noted that they “are moving extremely fast.” But, still, while there may be a silver lining, NeuNer pointed out that there have undoubtedly been delays, such as the multi-month one seen recently with Ethereum Constantinople, an important step towards Serenity. Drake attributed these delays to developers’ plans to make Serenity backward-compatible with Ethereum 1.0, which would have required developers to implement scaling solutions into the legacy chain. Now, however, Ethereum’s development team has moved away from this goal, starting from scratch with a new blockchain protocol. While this may allow Ethereum to scale further in the future, Drake noted that this novel environment has made developers/researcher overly ambitious, again, a delay. Still, the prominent crypto savant explained that Serenity Phase 0 (Beacon Chain) will arrive in 2019, just a year before Serenity’s 1st phase (data sharding), and then Phase 2 (EVM) by 2021. The project’s ascension to its next phase, as revealed by Buterin, may eventually facilitate “pure PoS consensus, faster times to synchronous confirmation (8-16 seconds), economic finality (10-20 minutes),” and, most importantly, a 1,000x scalability upside, which will likely fix a majority of Ethereum’s short- and mid-term scaling shortcomings. But for now, Ethereum’s proponents and advocates will need to play the waiting game, as some of the project’s skeptics are afraid that deadlines won’t be met and/or will be pushed back. The Block’s Mike Dudas recently claimed: Ethereum is starting to remind me of the software vendor who never quite meets their deadline or quality promises. Still, many maintain their belief that Ethereum, despite its shortcomings on the day-to-day, will continue to hold its hegemony over the protocol/world computer subset of decentralized networks. Title Image Courtesy of Kevin Ku on Unsplash The post Ethereum Developer: Serenity Is Moving Really Fast, Sharding By 2020 appeared first on Ethereum World News.

3 hours ago

XRP is “explicitly legalized and endorsed” in Thailand, reveals Ripple’s Garlinghouse

Brad Garlinghouse, the CEO of Ripple, recently appeared at the Singapore FinTech festival to speak about the regulatory atmosphere in the blockchain and cryptocurrency space. In a discussion with the International Monetary Fund’s Deputy General Counsel Ross Leckow, Garlinghouse spoke about the ASEAN markets and their role in Ripple’s plan for building the Internet of Value. He began by saying that there are a “number of unique things” that occur in these countries that are worth calling out, such as the impact of regulatory clarity on driving the adoption of blockchain and digital asset technology. Quoting Singapore as the example, Garlinghouse stated that it is one country that has done a lot to be a “leader in this space”. He went on to explain how regulatory clarity has allowed the market to invest in the space. Garlinghouse elaborated: “Thailand would be another country that we’ve seen that is expressly and explicitly legalized and endorsed digital assets including XRP. We’ve seen some of that same activity in the Philippines.” He further stated that the first dynamic in regulation that has impacted the adoption of blockchain across markets in the Asian space is regulatory clarity, which still remains important. He stated that it was surprising to see how many markets have a lot of uncertainty, even as there are real use cases being seen and real problems or customers being solved. He stated: “If we can have that regulatory certainty and I’m talking about Ripple but I’m also talking about for other companies in this space also the more quickly we can see adoption of those technologies.” He further offered his opinions on the dynamics which might spur the adoption of blockchain technology and digital assets. Secondarily, he also spoke about how ASEAN countries have almost $130 billion in inbound remittances, which cause expensive fees for the everyday population. He went to say that the market is “ripe for adoption to take advantage of blockchain”. He added: “That’s actually interesting to see unfold here in the Asian markets as in some ways the current and Swift-enabled correspondent banking is leaving some of the ASEAN markets behind. Banks have contracted the correspondent banking relationships. It’s made this ASEAN market I think a ripe market for adoption of blockchain technologies and digital assets. Ripple now sees 50 percent of all of our global customers here in the Asian markets, our Singapore office has grown dramatically about 200 percent last year.” The post XRP is “explicitly legalized and endorsed” in Thailand, reveals Ripple’s Garlinghouse appeared first on AMBCrypto.

3 hours ago

Zcash (ZEC) Among the Few following NEM’s Stellar Performance

With Coincheck reinstating the trading of the 17th largest cryptocurrency by market capitalization - NEM, the coin rocketed upwards with 16.52% gain in the last 24-hours. The re-listing of the digital asset came over 10-months later after one of the biggest crypto-verse hacks in history. More than $0.5 bln worth in NEM tokens were taken from the leading Japanese exchange. Source: coinmarketcap Getting back to Zcash - for starters: Professor in John Hopkins University - Matthew D Green - in 2013 introduced the protocol named Zerocoin. At that point it was representing an extension protocol for Bitcoin’s network to gear up the blockchain privacy game. With it users were able to destroy the coins while returning an equal value of them later. Drastic improvements were made later on with the zk-SNARK or Zero-Knowledge Succinct Non-Interactive Argument of Knowledge protocol introduction which could also present a solution for Ethereum’s scaling as highlighted by Vitalik Buterin. We’re rolling out more USD pairs. On Sep 5 we’re launching US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC). Eligible #Bittrex accounts created before August are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/pzCry5OdTr — Bittrex (@BittrexExchange) August 29, 2018 Per time of writing, the privacy oriented virtual currency, is following Ripple’s XRP and NEM’s bullish performance with a break above the monthly declining trend which now is acting as a supportive ground for further increase. Source: coinmarketcap - Since Aug Performance However, despite reaching the level of $132.35 against the US Dollar, ZEC is struggling to overcome the major weekly $136.00 which resulted with slight correction. One rabbit-out-of the hat that could turn to a game changer for ZEC HODLers could turn the crypto-exchange Coinbase listing that is being predicted following ZRX and Basic Attention’s Token announcements. The exchange posted via twitter that it is experimenting with a few of the leading coins and ZCash was among the five chosen. The post Zcash (ZEC) Among the Few following NEM’s Stellar Performance appeared first on Ethereum World News.

3 hours ago

New Exchange Security Scoring Model Offers Insurance Rates for Coin Holders

International cybersecurity solutions provider Group-IB has come up with a scoring model to grade crypto exchanges based on their level of security.The scoring model was created by Group-IB in conjunction with Swiss-based Cryptolns (which is operated by Swiss insurance broker APIS AS), and the grading is intrinsic to CryptoIns’ new cryptocurrency exchange insurance, which will allow exchange users to cover up to 15 BTC worth of digital assets held in their exchange accounts. With the scoring model’s data, CryptoIns has calculated rates for their coverage depending on an exchange’s level of security and asset-protection measures.This insurance will be available for assets held on leading exchanges like Binance, OKEx, Kraken and Huobi, while a full list can be found on CryptoIns’ website.“Currently, approximately 3,600,000 BTC are stored in user accounts on cryptocurrency exchanges, making this market highly attractive for hackers,” Timofey Volkov, CEO of CryptoIns, explained.Per a recent Forbes article, crypto exchanges are attractive to hackers due to their design: They have a centralized single point of failure, making them prone to the same problems faced by millions of web applications globally. This is where the assessment from Group-IB gets interesting for the investor.The grading from Group-IB took the exchanges’ architecture and infrastructure into consideration to better understand the mechanisms used in countering potential threats. While developing the framework for its insurance policy, Cryptolns revealed that it assessed a number of exchanges using various parameters, including “the level of technical security [and] the reliability of key storage, password, and personal data of customers provided by each exchange.” Explaining the challenges faced by insurers in the crypto industry, Volkov stated that:“Collaboration with one of the leading international cybersecurity companies will help us organize and conduct pre-insurance evaluations of the exchanges in order to assess their security, as well as the potential for fraudulent activities on the part of the founders and management.”Risk GroupsThe scoring by CryptoIns also sorted exchanges into four risk groups based on aggregated information which includes "assessment of traded volume, traders’ activity, internal fees and other characteristics." Exchanges categorized in the first group were graded as being the least vulnerable, second and third were "rated satisfactory and low in security risk," while those in the fourth group were deemed to be overly risky, with the company saying it won't provide insurance for such exchanges.Base insurance rates are put at 2.5 percent per quarter. Each of the groups was entitled to different discounts with the maximum being a 50 percent discount, the report states.According to CryptoIns' insurance calculator on its website, U.S.-based cryptocurrency exchange Kraken ranks as the safest digital asset platform with a lower cost of insuring assets. It costs users 0.0125 BTC for every 1 BTC stored on Kraken at a 1.25 percent insurance rate. The same 1 BTC will be insured on Binance and Bibox for 0.019 BTC and 0.025 BTC, respectively.Falling under the overly risky group were exchanges like Yobit which emerged as the least secure. Other less-secure exchanges, according to the list, were Zaif, Bitstamp, Bit-Z and TopBTC.Cyber threats on crypto exchanges have become a recurring event. In September 2018, Japanese digital assets platform Zaif reportedly lost $59 million due to a security breach on its system. Bithumb, CoinGrail and BitGrail all lost $30 million, $40 million and $195 million, respectively, earlier in the year. This article originally appeared on Bitcoin Magazine.

4 hours ago

Tron [TRX] cross 4 million in block height; gains additional support with Blockport listing

Tron [TRX], the eleventh-biggest cryptocurrency by market cap, has crossed another milestone since the launch of the Tron Virtual Machine [TVM]. This time, it has made a mark by surpassing 4 million mark in terms of the block height. Justin Sun, the CEO and Founder of Tron Foundation announced on Twitter: “#TRON reaches 4 milliom block height! #TRX $TRX” Tron [TRX] block height | Source: TronScanGenerally, a blockchain has a series of blocks, the very first block is known as the genesis block. The genesis block has a block height of zero. Moreover, the blocks contain data units which store information of the transactions that takes place on the network. X-Wing, a Twitterati said: “Towering above the competition #TRON #TRX” YOTCOIN, another Twitterati said: “Living up to what the believers in Blockchain would like to believe in. p2p economy :)” Moreover, the coin was recently listed on Blockport, a cryptocurrency exchange that allows users to buy, sell and trade cryptocurrencies with Euro. The cryptocurrency has now gained the support for trading alongside Euro, with the support of this exchange platform. Blockport announced on their official portal: “Of equal importance is that Tron’s European community will now have direct access to the TRX token through our user-friendly exchange and trading platform.” However, the community continues to be stressed about the lack of positive price action. According to CoinMarketCap, the cryptocurrency was trading at $0.022 with a market cap of over $1 billion. The trade volume of the coin was $54 million and had slumped by 3.80% in the past seven days. The highest trade volume of the coin was pouring in from BitForex with TRX/ USDT pair. It was followed by OKEx with TRX/ USDT pair, Binance with TRX/USDT pair, and Huobi with TRX/ USDT pair. Sveinung Hereid, a Twitterati said: “Do you ever think about your HODL’ers @justinsuntron ? Looks like this is the top value the coin will ever reach. Not a single thing so far can prove otherwise. Still u hype us along making only your self rich.. its....sad.” The post Tron [TRX] cross 4 million in block height; gains additional support with Blockport listing appeared first on AMBCrypto.

4 hours ago

A $36.5 Million Manhattan Property Is Being Tokenized and Sold in Digital Shares on the Blockchain

A Manhattan property is now being tokenized on the blockchain. According to a Bloomberg video, a $36.5 million condominium complex is being “sliced into digital shares,” giving global investors the opportunity to own a piece of it. The developer is under pressure to sell a certain number of units by a bank-imposed deadline, and the loan matures in January 2019. Otherwise, they will have to repay the loan early. The tokenization of the debt is expected to help the developers sell the condos at a reasonable pace. Crypto tech startup Fluidity is working on the project alongside broker-dealer firm Propellr to create smart contract-fueled tokens on the blockchain. (GT)

4 hours ago

SWIFT Kicks Out Iran - One Of The 3 Cheapest Countries To Mine Bitcoin

The Society For Interbank Financial Telecommunication (SWIFT) has begun blocking access to international transfers for Iranian member banks as new US sanctions take effect. SWIFT: Block Is ‘Regrettable’ As Reuters originally reported, November 10 marks the first day of action which will see financial institutions cut off from SWIFT, which facilitates cross-border payment instructions to more than 200 countries. In a statement at a Paris event November 7, the organization’s chief executive Gottfried Liebbrandt called the action “regrettable” but explained it was being “taken in the interest of the stability and integrity of the wider global financial system.” Iran is expecting significant turmoil over the reinstallation of the sanctions which had previously gone under the Obama administration. In a timely reminder of the centralized power of the global banking system, SWIFT appeared to act as an extension of US federal law, despite being based itself in Belgium. Crypto Sanctions Evasion On Everyone’s Radar As Bitcoinist has reported, the announcement of new punitive measures against Iran sparked speculation over the potential future role of Bitcoin and cryptocurrencies for the country’s residents. Authorities had formerly taken a risk-averse approach to the industry, banning banks from serving cryptocurrency businesses in April. More recently, however, talk has turned to the idea of issuing a central bank digital currency as a sanctions avoidance method, while formal regulation is also due. In a poignant development, lawmakers also formally recognized Bitcoin mining as an industry in September. According to energy price data, Iran is currently the third cheapest country in the world to mine Bitcoin in. In October meanwhile, the US Treasury’s Financial Crimes Enforcement Network (Fincen), reiterated its concerns cryptocurrency was forming part of evasion policies by Iran. “Institutions should consider reviewing blockchain ledgers for activity that may originate or terminate in Iran,” it wrote in an advisory. Institutions should also be aware that the international virtual currency industry is highly dynamic; new virtual currency businesses may incorporate or operate in Iran with little notice or footprint. The precedent has already been set, notably by Venezuela, which has formerly begun transacting in its government’s notorious state-sponsored national cryptocurrency Petro. What do you think about SWIFT’s actions against Iranian banks? Let us know in the comments below! Images courtesy of Shutterstock The post SWIFT Kicks Out Iran - One Of The 3 Cheapest Countries To Mine Bitcoin appeared first on Bitcoinist.com.

4 hours ago

Kathleen, I am so glad

As a woman I just wanted to express my gratitude. It's so great to have a smart and energetic woman like you here. As we all know technology (and so crypto), in people's minds, is still often more of a male thing. That can change. It is simply amazing to me that our blockchain platform's founders are a young couple. Do not underestimate this factor. Crypto has a hard time to enter the mainstream if it remains something that is mostly for nerds, and now industrial investors. Probably not something the average computer user would be interested in. Having a strong woman with us is something that will be very advantageous as things unfold, I'm pretty sure of this. Thank you Kathleen, I'm a fan. I hope everybody has an amazing time over the years to come. Cheers

5 hours ago

Filament launches automotive blockchain platform for connected vehicle apps

CryptoNinjas Filament, a provider of comprehensive enterprise blockchain solutions for the Internet of Things (IoT), today announced Blocklet for Trusted Vehicle Applications (TVA). Available as part of Filament’s Blocklet Kit for Trusted Vehicle Applications, Blocklet... Filament launches automotive blockchain platform for connected vehicle apps

5 hours ago

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.

5 hours ago

Poloniex Requires 2,000 Confirmations for Bytecoin Transactions

If you want to trade Bytecoin on Poloniex, you’re going to have to wait a significant amount of time, CCN has learned. This reporter decided to enter the BCH pre-fork trading at the exchange and wanted to use his Bytecoin holdings as part of that process. He withdrew them from where they were held and

5 hours ago

Ripple Moves XRP Security Lawsuit to Federal Court, Attorneys Call It Brilliant

Ripple Labs is now attempting to move a lawsuit against them regarding the status of XRP as a potential security into a federal court, which is being lauded as a brilliant strategic move by a notable attorney familiar with the situation. The lawsuit against Ripple Labs was first brought about by plaintiffs. They are accusing the blockchain company of offering investors an unregistered security product (XRP) that has been maliciously manipulated by Ripple in order for them to maximize their profits from the distribution and sale of these tokens. Although the lawsuit itself is trivial and is being brought about primarily by some neophyte investors, who were burned after purchasing XRP at incredibly high prices, the results of it could be incredibly impactful for XRP and its investors. If it were to be ruled as an unregistered securities product by the courts, it would lose much of its practicality as a settlement tool, and would be delisted from most major exchanges, significantly drying up its liquidity. Because of the importance of this case’s outcome, Ripple has enlisted major law firm Skadden, to represent XRP, as well as notable attorneys from Debevoise & Plimpton, including former SEC chair Mary Jo White and former SEC enforcement chief Andrew Ceresney. Late Wednsday, Skadden filed a notice of removal, arguing that the case should be moved to a federal court due to the San Mateo Superior Court judge’s merging of another lawsuit being brought against Ripple by an Israeli resident into a California consolidated class action. The law firm noted that the merging of the case with an international plaintiff makes it eligible for consolidation to a federal court under the Class Action Fairness Act: “A putative class action may be removed to the appropriate federal district court if (1) the action purports to be a ‘class’ action brought on behalf of 100 or more members; (2) any member of a class of plaintiffs is a citizen of a state different from any defendant; and (3) the amount in controversy exceeds $5 million.” Related Reading: Ripple on Coinbase Rumours Swell as XRP Chases Ethereum’s Second Spot Ripple’s Move Lauded as Brilliant Ripple’s attorneys attempt to move the case to a federal court is incredibly strategic and is likely an attempt to garner better odds of winning the case. In a recent tweet from Jake Chervinsky, a government enforcement defense and securities litigation attorney at Kobre & Kim, he explained the move, calling it “slick” and “brilliant,” saying that: “Ripple’s legal team showing some tactical brilliance here. It’s hard to explain the procedural maneuver in one tweet & I’m not going to thread this, but suffice to say it’s a seriously crafty attempt to go federal. Might not work, but slick regardless.” Chervinsky further explained that it is hard to tell what their odds of winning the case are, but that their attempt to move the case to a federal court could increase their odds. “I can’t speak to their odds of winning since the case is still so young & I don’t know all the facts, but it’s fair to say Ripple’s lawyers think they have better odds of winning in federal court than in state court (or else they wouldn’t be trying so hard to remove the case),” he said. XRP investors will have more information about the case in the months and years going forward, although it is important to understand that the case could take a significant amount of time before any deliberate resolution is found. Featured image from Shutterstock. The post Ripple Moves XRP Security Lawsuit to Federal Court, Attorneys Call It Brilliant appeared first on NewsBTC.

5 hours ago

Singapore Launches Blockchain DvP Settlement Framework

The Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) recently unveiled a blockchain-based Delivery versus Payment (DvP) settlement framework. Reports indicate that the framework can simplify post-trade processes, materially diminishing the payment settlement cycle. DvP Settlement Using Smart Contracts According to Techwire Asia, the SGX/MAS collaboration is the first of its kind to develop a decentralized technology (DLT) framework for DvP. This new framework enables DvP capabilities for tokenized assets trade. Usually, DvP settlements take as long as three days after the transaction date. However, the SGX and MAS are confident that the new protocol can help to speed up the process. The project also included other technical partners like Deloitte, Nasdaq, and Anquan. According to available reports, the blockchain-based DvP platform can perform simultaneous exchanges, as well as final settlement payments for utility tokens and tokenized securities across multiple blockchain networks. It is this interoperability that the project partners hope will improve the speed and efficiency of the entire process. Blockchain Technology in Capital Markets In a report jointly published by SGX and MAS, both institutions showed how a blockchain-based DvP settlement framework which utilizes smart contract technology could be of benefit to the market. Commenting on the value of the initiative, the Chief Fintech Officer of the MAS, Sopnendu Mohanty, said: This project has demonstrated the value of blockchain technology and the benefits it can bring to the financial industry in the short to medium term. The unveiling of the SGX/MAS blockchain-based DvP settlement framework comes amidst the backdrop of the country’s Fintech Festival. Reports indicate that more than 40,000 people, as well as 250 speakers and over 400 exhibitors, will be at the weeklong event which ends on November 16, 2018. Singapore Embracing Cryptocurrency and Blockchain Technology The SGX/MAS blockchain-based DvP platform is yet another milestone for the rapidly evolving digital economy in Singapore. Along with others in Southeast Asia, Singapore appears to be leading the charge to embrace blockchain technology. Recently, SGX partnered with Temasek Holdings to invest in iSTOX - a security token offerings (STO) platform. The country is also providing an enabling regulatory environment for its local digital currency market. Last month, Live Bitcoin News reported that the MAS was looking to help cryptocurrency businesses with access to banking services. What do you think about Singapore adopting blockchain technology in the DvP settlement process? Let us know your thoughts in the comment section below. Images courtesy of Shutterstock. The post Singapore Launches Blockchain DvP Settlement Framework appeared first on Live Bitcoin News.

5 hours ago

Major Banks and Oil Firms Partner to Launch a Blockchain Platform for Commodity Trading

Global oil companies BP, Shell, and Equinor have partnered with large banks and trading houses to develop a blockchain-backed platform for energy commodity trading. The ‘Vakt’ platform will include ABN Amro, ING, and Societe Generale and the banks will partner with Guvnor, Koch Supply & Trading, and Mercuria trading houses. The platform will allow the syndicate of oil producers, banks and trading houses to transact without “cumbersome” paperwork as smart contracts will be used for all transactions. Vakt vice president Lyon Hardgrave expects that the platform will cut up to 40 percent of the costs associated with post-trade resolution. (RS)

5 hours ago

Global Consultancy Launches DLT Platform for Software License Management

Global management consultancy, Accenture has launched a distributed ledger (DLT) platform that will manage and track software licenses. The company partnered with Digital Assets to develop the platform and the app uses Digital Assets’ DAML smart contract language to track software licenses from origination to purchase and distribution. In a press release, Accenture also pointed out that the transparency provided by the DLT platform and app will help large multinational firms avoid violating licensing rules. (RS)

6 hours ago

IMF Official to Ripple Co-founder - IMF involved in research, publication on crypto-assets and blockchain

In a recent interview with Ripple’s Co-founder Brad Garlinghouse, Ross Leckow, an Internation Monetary Fund [IMF] official discussed the Fintech industry and the role of blockchain in it, especially from the perspective of the ASEAN region. He stated that the monetary authority is taking a noticeable interest in the field and seeking guidance from the best in private as well as public sectors. He began by mentioning that blockchain is hard to discuss without first talking about other new technologies, such as the Intenet and cloud computing that are reforming FinTech. He added distributed ledgers and virtual assets as the newly integrated part of the industry. Next, Leckow shared that IMF is engaging with the subjects related to the potential impacts of FinTech on cross-border payments by associating itself with the private and public sectors within the industry. Here, he cited Ripple Co-founder Chris Larsen and said: “Last year, we put in place a high-level advisory group of industry leaders from private and public sectors to help guide us in our work on FinTech. I’m very happy to say that Chris Larsen, one of the co-founders of Ripple part of that group. And we’re grateful for the worldly advice that they give us.” IMF has 189 countries on the board of members, at present. Leckow, who is also the Deputy General Counsel at IMF stated that most of these nations are looking for guidance on how to approach and unleash the potential of FinTech to boost development. These members are also seeking an approach to placing regulations that guard the industry against the risk posed by new technologies. The official also revealed that IMF is conducting intense work in the space through several distinct initiatives. The authority has an active program of research and publication dedicated to the industry and the technology. According to the official, his institution has published major studies on virtual currencies, or as he addressed them: crypto-assets. The post IMF Official to Ripple Co-founder - IMF involved in research, publication on crypto-assets and blockchain appeared first on AMBCrypto.

6 hours ago

Government Regulation and the Future of Privacy-Focused Cryptocurrencies

In recent times, governments around the world have charted a new course for cryptocurrency regulation, and it’s one that seeks to exclude privacy-focused cryptocurrency. Moving away from the complete banning of digital currencies, these governments are tackling two core issues: protecting investors and traders, and making sure that cryptocurrencies avoid becoming breeding grounds for criminals. This trend has sparked many regulatory requirements, from anti-money laundering rules to KYCs. But as these governments intensify their regulations, we must ask ourselves what is the future of privacy-focused cryptocurrencies geared toward maintaining user privacy to the core? Anonymous Coins: Living Up to Their Names In its developmental stages, Bitcoin had earned a name as a cryptocurrency that provides complete anonymity to its users, drawing many privacy lovers to it. Today, that notion has changed completely. Though it might not be possible to trace transactions made on the Bitcoin blockchain to a specific identity, other details, including location and amount of transactions, are visible. And the fact that linking your identity to the blockchain will expose your transactions to the public ledger shows that, after all, the world’s largest and most popular cryptocurrency isn’t completely anonymous. In turn, privacy coins have come to save the day. Beginning its journey in 2014 as Xcoin and later Darkcoin, Dash is one of the most popular privacy-focused coins in the cryptosphere. Its privacy feature PrivateSend, previously called Darksend relies on the CoinJoin mechanism of boxing-up transactions and making them difficult to identify participants of a particular transaction Another popular privacy coin is Monero. Developed through the CryptoNight Proof of Work protocol, Monero has risen to be one of the best privacy coins in existence today. Transaction sources and destinations are untraceable in Monero. For example, to escape scrutiny from authorities, the WannaCry ransomware hackers reportedly converted their hoard to Monero. Additionally, after the closure of the darknet marketplace AlphaBay, authorities reported that they could not identify the amount of Monero on the platform, cementing the privacy coin as a good place not just for privacy-oriented individuals, but as a hiding place for some criminals. Other privacy coins have sprung up and gained popularity as well, including Zcash, PIVX, Navcoin, Verge, among others. For proponents of the privacy coin, cryptocurrencies should be able to help privacy-oriented people conduct their financial transactions without prying eyes. Providing that infrastructure shouldn’t be a headache. But unfortunately for many, governments do not think so. Government Crackdown on Privacy Coins Though there has not been a comprehensive regulatory oversight on cryptocurrencies in general, many governments are devising ways of preventing criminals from using these digital currencies as their go-to financial system. These governments are also making sure that traders and investors in this space pay tax. But for privacy coins, the story is not that favorable even though many authorities haven’t turned their attention to the anon coin sector. In a written testimony in June this year, Deputy Assistant Director of Office of Investigations at the US Secret Service Robert Novy recommended that privacy-focused cryptocurrencies like Monero and Zcash should be regulated to prevent fraud. In May, Japan’s Financial Services Agency put pressure on anonymous cryptocurrencies, gingering crypto exchanges like Coincheck, a Japanese-based cryptocurrency exchange to announce its delisting of privacy coins, including the likes of Augur, Monero, Dash, and ZCash. The reason? Coins that grant a high level of anonymity might be used for money laundering activities according to the FSA. But can Privacy-Focused Coins be Stopped by Governments? Government regulation would surely hamper the growth of privacy coins, but not completely. One specific area that would be hard hit is the ability to exchange these coins for fiat or other cryptocurrencies. However, as the cryptocurrency space grows, privacy would be an integral part of this sector, and privacy coins might potentially rule that space. As Chief Marketing Officer for Dash Fernando Gutierrez puts it, There are many legitimate reasons to want privacy in the cryptocurrency space and there is the obvious consideration about privacy being a human right but then there is the huge issue of security. Having financial information public or semi-public is extremely dangerous. The only way to provide security for the average user is to allow them to keep some information private. When cryptocurrencies find their way into the mainstream and become a true internet money as many predict, privacy coins would be the order of the day for people who don’t want to have a public ledger of their everyday transactions. When the time comes, governments might have to co

6 hours ago

Riding on Coinbase Listing Update, Stellar Gains Fifth Spot Leaving Behind EOS

Stellar Lumens or XLM has become the fifth largest cryptocurrency by winning over EOS. It stands with market cap $5,093,506,793 as against $4,915,473,123 of EOS. Factors leading to Stellar’s win over EOS Coinbase has recently announced the listing of several new assets to its exchange which also includes Stellar. It announces the listing of Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and Ox (ZRX). Earlier this week, Stellar Development Foundation heads up for the biggest airdrop in crypto history. Interestingly, the total of $125 million worth of Stellar Lumens (XLM) will be released as a give away to its blockchain wallet users. This has definitely risen up the XLM market to interesting highs as more people are showing interest, seeing quite a big fund for giving away. Yet another reason that marks Stellar on top than EOS is “Fake EOS wallet on Google Play”. EOS RIO, EOS developers has been seen warning its users to save from the use of fake version of its App on Google Play, which has negatively affected the volume of EOS cryptocurrency. Since the market is volatile in nature, one cannot definitely state the literal stand of any cryptocurrency. It is however interesting to see whether the price of Stellar is influenced by $125 million airdrops or Coinbase listing announcement or spotlight of Fake EOS wallet on Google Play. Will stellar sustain its position against EOS. Let us know in comments below. The post Riding on Coinbase Listing Update, Stellar Gains Fifth Spot Leaving Behind EOS appeared first on Coingape.

6 hours ago

Melhores canais e grupos no Telegram para criptomoedas

Por: Livecoins Quando vamos conhecendo melhor o cenário das criptomoedas uma das formas de aprender e ficar antenado mais do que a nossa capacidade de procurar por mais informações consegue, é nos unir a comunidades e participar de debates e crescer mais os conhecimentos no menor tempo possível, confira abaixo os melhores canais e grupos no Telegram para criptomoedas. O Telegram é um aplicativo mobile, que possui versões para Android e também para IOS, mas que de forma semelhante ao Whatsapp também possui uma interface web para acesso por computadores pessoais. Outro detalhe é que pode ser baixado um programa para seu desktop. As vantagens do Telegram sobre o Whatsapp são várias, o limite da capacidade dos grupos são de 100 mil pessoas, sendo o zap de apenas 256 pessoas. Um fato é que ao entrar nos grupos e canais, os novos usuários possuem acesso ao histórico de conversas que aconteceu antes dos mesmos entrarem, isso já não é possível pelo whatsapp. Outro detalhe é a privacidade, pois pelo Telegram pode ser criado um usuário que passa a ser a informação que é compartilhada publicamente em grupos. O mesmo normalmente possui o formato “@nomequevocêquiser” e faz com quem em grupos as pessoas veja apenas seu usuário e o seu nome que também é criado. O telefone dos usuários então, não são compartilhados de forma pública neste aplicativo. Outro detalhe é que além dos grupos podem ser criados canais de comunicação, dos quais os usuários inscritos recebem notificações das atividades do criador do canal, muito útil para quem deseja receber as novidades sem se interagir com as mesmas. Para finalizar as vantagens, dentre as várias possibilidades o Telegram permite que os usuários criem robôs de informações (BOTS), para que dessa forma automatizem processos diversos. Existem nas comunidades de criptomoedas bots diversos que conseguem desde responder dados básicos até a verificar cotações em exchanges. Se você já baixou o aplicativo e está sem comunidades para entrar, confira abaixo a lista dos canais e grupos e entre para encontrar mais informações: Canal Livecoins - Notícias em primeira mão Grupo Livecoins - Comunidade para interação de quem acompanha nosso portal Grupo Binance Portuguese - Exchange Grupo Huobi Brasil - Exchange Grupo OriginalMy Brazil - projeto brasileiro Grupo Paratiivideo - projeto brasileiro Grupo CryptoGiant - troca de informações Grupo Bitcoin Investimento Trader - troca de informações Grupo Criptologia - youtuber e troca de informações Grupo 59 segundos - youtuber e troca de informações Grupo Investimentos Digitais - youtuber e troca de informações Canal Criptomaniacos - youtuber Grupo Nano Brasil - criptomoeda Canal IOTA Brasil - criptomoeda Grupo Decred Br - criptomoeda Canal Waves Brasil - criptomoeda Grupo Crypterium Brasil - criptomoeda Grupo Falando sobre Investimentos - Troca de informações, não somente criptos A partir destas dicas o seu caminho tende a aumentar de opções uma vez dentro do Telegram, só deixamos claro que ao entrar em comunidades muito cuidado com fraudes, com pessoas que lhe chamarem propondo milagres e retornos incomuns de investimentos, não existe dinheiro fácil e nem dinheiro de graça. Se você ainda possui dúvidas sobre o Telegram ser uma super ferramenta, e muito mais do que isso, ser amigável ao ambiente das criptomoedas, saiba que a ferramenta realizou um financiamento privado para melhorar a plataforma que irá contar com um token criptográfico para que usuários paguem contas e façam transações dentro desse ambiente. O artigo Melhores canais e grupos no Telegram para criptomoedas apareceu primeiro em Livecoins.

6 hours ago

Singapore Based Rate3 Brings Asset Tokenization to Enterprises

With the evolution of the blockchain, tokenization of assets is becoming an important facet of the crypto economy. Rate3, a Singapore based company is also looking forward to creating an ecosystem where money, real estate, stocks, time and intellectual property can be tokenized, using applications built on public blockchain networks. The company is working to make its vision come true, using the Ethereum and Stellar blockchains and $17 million in funding. The Available Tokenization Market Rate3 values the tokenization market for addressable assets at $700 trillion, and the company intends to get a slice of this vast potential economy. It is banking upon the numerous benefits of the blockchain, which includes cheap transactions and fast settlements around the clock. The company recently received $17 million in funds from Insignia Ventures, Alpha JWC, Matrix Partners China, Node Capital, Fenbushi Digital and FBG Capital to create solutions that could help in creating tokenized assets on the blockchain. Rate3 CEO Jake Goh said that tokenization is the first major milestone that brings enterprises closer to the open, public blockchains. He said: “We envision a future whereby all assets of material value will become tokenized and easily transferable on blockchains. This will greatly add to the liquidity of the asset and in turn improve the enterprises’ working capital position and operational efficiency.” Solving Real-world Problems With Tokenization Two major problems could be cited with enterprises in regards to blockchain adoption. First, there is a lack of secure and common legal framework that binds real-world assets to digital tokens. Secondly, the identity ecosystem remains fragmented. Rate3 will solve these two issues by working with independent, licensed trust companies that could provide absolute legal guarantees of asset ownership. The model depends on transparency and confidence that a token holder is fully locally compliant and can opt for legal recourse should his ownership of an asset come under question. The two platforms to be used for the new solutions would be Ethereum and Stellar. Ethereum’s Turing-complete programming language and the payments-optimized design of Stellar will help the company in creating applications that foster faster and cheaper transactions. Rate3 brings interoperability for the two ecosystems, utilizing the benefits of each of the public blockchains. Singapore Based Rate3 Brings Asset Tokenization to Enterprises was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

6 hours ago

NEM Skyrockets as Coincheck Resumes Trading, Altcoins Trade Up Amidst Bitcoin Stability

NEM (XEM) is currently trading up nearly 20% as cryptocurrency exchange Coincheck resumes its normal trading activity. NEM’s meteoric price rise comes amidst overall market stability, with Bitcoin (BTC) trading steadily at $6,400, and most altcoins trading up. At the time of writing, Bitcoin is trading at $6,400, recovering from a slight dip into the mid-$6,300 region. Bitcoin is still trading firmly in its long-established trading range between $6,200 and $6,700, and its prolonged sideways trading trend has proved to be a positive thing for the altcoin markets. Currently, NEM is leading Monday’s market surge, trading up 17.8% at its current price of $0.11. Following Coincheck’s announcement that they were resuming trading activity on their exchange, NEM surged to highs of $0.114, before falling to $0.103 as a result of profit taking. Its price has since climbed back up and is currently sitting near its current highs. NEM’s sustained price pump has also been fueled by rising trading volume, which jumped from about $5 million prior to the Coincheck announcement, to its current levels of over $48 million. Following the massive $500 million hack Coincheck was the victim of early this year, the exchange has had a difficult time fixing their management issues, security issues, and meeting the new, stricter, regulatory requirements being set forth by Japanese regulators. The Tokyo-based exchange first announced that they would be resuming new account openings and customer deposits in late-October, but limited the cryptocurrencies available to trade to BTC, ETC, LTC, and BCH. Related Reading: Cryptocurrency Market Update: Has NEM Awoken Altcoins Trade Up Although NEM has thus far been the leader of today’s cryptocurrency market surge, other altcoins have posted gains as well. At the time of writing, XRP is the highest preforming major alt, currently trading up nearly 4% over the past 24-hours, at its current price of $0.52. XRP has had a choppy week of trading, first rising to highs of $0.56 on November 6th before falling to lows of $0.49. Since then, its price has gradually drifted upwards towards its current levels. Bitcoin Cash (BCH) is one of today’s worst performing major alts, currently trading down just over 1% at its current price of $520. It is currently down 18% from its weekly highs of $635. Bitcoin Cash’s poor performance over the past few days comes after it witnessed a massive rise from lows of $415 in mid-October, to highs of $635 earlier this week. This rise was fueled by increased buying volume stemming from the imminent hard fork event which is scheduled to occur in three days, on November 15th. Many investors expected its price to continue rising prior to this event, but it now appears that investors are less interested in acquiring the forked units than they are in profiting from its rise prior to the event. Featured image from Shutterstock. The post NEM Skyrockets as Coincheck Resumes Trading, Altcoins Trade Up Amidst Bitcoin Stability appeared first on NewsBTC.

7 hours ago

XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency

Stellar Lumens has overtaken Ripple’s XRP to become the fourth most-traded asset on Binance. XLM has been consistently on the news last week with a barrage of announcements as it overtook EOS and became the fifth-largest cryptocurrency [by volume]. Source: Trading View XLM is now the fourth most-traded asset on Binance, just after Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH]. However, XLM’s current trading volume on Binance exchange for XLM/BTC pair is $27.21 million, while XRP’s trade volume for XRP/BTC pair is $19.65 million. Moreover, the XLM/USDT trading volume is $12.76 million while that of XRP/USDT is $13.79 million. Cumulatively, the XLM trading volume comes up to $40.33 million while that of XRP is $33.06 million. Bitcoin Cash [BCH] is currently the number one against the BTC trading pair, with trading volume of $62.29 million, and has a trading volume of $38.99 million with USDT pair. Bitcoin paired with USDT has a trading volume of $62.14 million and contributes a total of 11.40% of the total trades on Binance, while BCH contributes a total of $101.14 million in trading volume which is 18.59% of the total trades. Ethereum [ETH] has a total of $48.22 million in trade while, which is 8.85% of the total trading volume. The Ethereum ETH/BTC pair contributes $20.054 while that of ETH/USDT contributes $28.16 million. Stellar Lumens recently overtook EOS, which was at the fifth spot for the longest time. The trade volume of XLM, in a seven-day time frame, increased by an astronomical 125% to reach $121.88 million from a mere $54.07 million, while EOS’ market cap reduced to $4.89 billion. The post XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency appeared first on AMBCrypto.

7 hours ago

.@StorjQ recently joined @Shaughnessy119's podcast to discus...

.@StorjQ recently joined @Shaughnessy119's podcast to discuss what our team has been building and how Storj is taki… https://t.co/jTFscrOWNb

7 hours ago

Bitcoin SV Flexes Muscles In Stress Test

The Bitcoin Cash (BCH) hard fork is less than a week away. Statistics published yesterday showed more than half of the network’s miners supported Bitcoin SV, the brainchild of Calvin Ayre and Craig Wright. The team behind Bitcoin SV has told Crypto Briefing that the protocol reportedly ‘excelled’ during preliminary tests. The BCH professional stress test, which took place on Saturday, included Craig Wright’s BMG and Calvin Ayre’s CoinGeek: two of the largest mining pools on Bitcoin Cash. Over the course of four hours, 50 nodes around the world sent a total of 1.5m BCH transactions - an average of 666 transactions per second - using three of the proposed client implementations: Bitcoin SV, Bitcoin ABC and Bitcoin Unlimited. The team behind Bitcoin SV said the new protocol implementation allowed BMG pool to mine four 32MB blocks, each containing 166,000 transactions, during the stress test. These are reportedly the largest blocks ever to be mined; not just on the Bitcoin Cash network, but on any Proof-of-Work (PoW) blockchain. SVPool, another mining pool connected to Craig Wright, mined a 20 MB block; CoinGeek managed to mine a 15 MB block. The biggest block Bitcoin ABC could mine, in comparison, was one single 8 MB block. The biggest block size on average for the protocol was 1-2 MB. “In advance of the November 15 network upgrade and hash war between competing BCH implementations,” Bitcoin SV said, “This pre-test demonstrated why Bitcoin SV is a superior choice for miners over Bitcoin ABC and other full node clients.” What is the BCH hard fork? The Bitcoin Cash hard fork is a disagreement about how the network could best improve its scalability and overall performance. Bitcoin Unlimited allows miners to adjust and select for themselves the block size they wish to process. Supported by Bitmain and Roger Ver, Bitcoin ABC wants to keep block sizes as they are but introduce non-cash transactions to the protocol. Bitcoin SV (the ‘SV’ stands for ‘Satoshi Vision’) argues a larger block size of 128 MB will turn BCH into a global payments network that remains true to the original Bitcoin (BTC) whitepaper penned by Satoshi Nakamoto. “We want to restore the BCH protocol to Satoshi’s original design, and then keep it stable just like the Internet protocol does not often change,” said Bitcoin SV Technical Director, Steve Shadders. “For BCH miners around the world, the correct choice is Bitcoin SV. We provide the path to achieve the original Satoshi Vision for Bitcoin, which will enable miners to generate more transaction revenue and remain profitable for years to come.” More than half of the mining community supported Bitcoin SV. Data collected by Coin.Dance, a blockchain statistics website, found that roughly 58-68% of the BCH network’s total hashrate supported Bitcoin SV, compared to the approximate 19-32% that backed ABC. The number moving to the SV camp has steadily risen over the course of Monday and could be as high as 74% based on current estimates. A pyrrhic victory for Bitcoin SV? Arguments for bigger block sizes boil down to a question of capacity. A bigger block can handle more transactions, which makes it more useful as a payments solution. Those against it worry that it’s a short-term solution that only serves to increase the cost of participation, by raising the cost of a full node. This infringes on the principles of decentralization which should, in theory, allow anyone to participate in the network regardless of the hashing power they control. Bitcoin SV have said 128 MB blocks are the first step. The plan is to keep raising the block size until they can do away with a maximum size altogether. “Once we go to a 128MB default maximum block setting, I look forward to seeing even bigger blocks,” said Bitcoin SV’s lead developer, Daniel Connolly. “One day, we will lift the default block cap altogether so that miners can configure their own block settings.” The debate surrounding the fork has become increasingly heated over the past few months. A letter to Ver, supposedly written by Wright, caused a stir last week. In it, Wright threatened to stop using the Bitcoin Cash protocol and bring the BCH price down to $0, if ABC was implemented. Ever since its split from Bitcoin in August last year, the key founders behind Bitcoin Cash have worked together in an uneasy alliance. It’s unknown whether these new divisions can ever be fully repaired, and if the two factions - SV and ABC - can ever be fully reconciled. Bitcoin SV may win the coin toss, but it could be too late to save Bitcoin Cash. The author is invested in BTC, which is mentioned in this article. The post Bitcoin SV Flexes Muscles In Stress Test appeared first on Crypto Briefing.

7 hours ago

Accenture deploys software license management app on Digital Asset’s DLT platform

CryptoNinjas Accenture, a global professional services company has completed its first transactions using a distributed ledger technology (DLT)-based application that delivers enhanced enterprise software asset management capabilities. The new application uses Digital Asset’s smart contract language, DAML,... Accenture deploys software license management app on Digital Asset’s...

7 hours ago

How To Choose An Altcoin

Altcoins have taken the brunt of the 2018 bear market losses, with some even losing ninety to one hundred percent or more of the gains made at the end of 2017. As the market stabilizes, smart investors will be looking to put their money into projects with substance and potential. The Golden Age Of Altcoins The end of 2017 brought great fortune to those who invested in cryptocurrency. Initial Coin Offerings (ICOs) exploded in popularity and many new investors found that they could throw money into practically any project using blockchain technology and cryptocurrency, and make back huge percentage gains. Suddenly, projects with nothing more than vague, long-term roadmaps were being funded left and right by investors who were brand new to the space. Investors who were blindly putting money into hyped up, flavor-of-the-week coins without so much as researching the goals and plans of the projects. The current 2018 bear market has been a valuable, albeit expensive lesson into what actually makes a project worth your hard-earned time and money. A New Era Investors should always do their due diligence when it comes to putting money into anything. Projects with actual working products and utility will have the most potential for profits when the next bull run kicks off. Historically, the final quarter of the year has been the best time for explosive growth and important project announcements and releases. NAGA is a prime example of a well-rounded blockchain project which has an underlying cryptocurrency, the NAGA Coin (NGC), that can be used in its expansive and multifaceted ecosystem. The NAGA Coin token sale ranked 2nd (2017) amongst top ICOs in terms of investor base with more than 63,000 investors and continues to develop and release resources for its platform, including a global market trading platform, a safe and secure software wallet, and a physical card that supports USD, EUR, and GBP. NAGA currently boasts seven working financial products, with another six that will be available soon. All of these integrated and complementary products set NAGA apart from the crowd. A Leg Up There are currently over two thousand cryptocurrencies listed on CoinMarketCap, ranked in the order of market value. It is important to note that the failure rate for ICO projects is a staggering 92 percent, with an average lifespan of only 1.22 years. The 2017 bull run caused ICO valuations that seemingly prioritized hype over real-world use. Digging deeper into some of the projects in the top 100 raises some flags. Take, for example, Verge, Dentacoin, and Monacoin, ranked 13th, 74th, and 75th respectively. Verge (XVG) is a privacy-centered cryptocurrency with little to offer other than a software wallet and the ability to transact the currency between them. It has also suffered multiple large-scale thefts on its network, yet remains in the top 50 cryptocurrencies in terms of market cap. Dentacoin is a blockchain solution for the dentistry market that debuted nearly one year ago. The project is quite niche and seems to only be useful as a dental hygiene education application. Monacoin is another decentralized payment solution clone similar to so many others in the saturated market. Fierce competition and innovation will eventually render many of these projects obsolete in the future. The team at NAGA, however, are constantly adapting and creating products that help give investors a leg up on the traditional and cryptocurrency markets and have far more intrinsic value than a large number of its competitors. What are some things that you look for when researching to invest in an altcoin? What are your thoughts on NAGA’s fintech ecosystem? Let us know your thoughts in the comments below! The post How To Choose An Altcoin appeared first on Bitcoinist.com.

7 hours ago

Litecoin News: $62 Million LTC Transaction Settled for Just 50 Cents

Transaction fees are a very common topic in the cryptocurrency industry. Digital transactions are designed to be cheaper compared to bank wires. In the case of Litecoin, a new $62 million transaction was settled for just $0.50. Low Litecoin Transaction Fees Over the past few years, there has been plenty of Bitcoin-related scrutiny. Most of the concerns have to do with the network’s transaction fees. Today, the average fee for sending BTC is just under $0.37 - a far cry from late December 2017’s $25 - $55 average fees. In the case of Litecoin, fees have almost always remained low - even for very large transactions. Recently, one user transferred $62 million worth of Litecoin for just $0.50 in fees. With a bank wire, fees can be as high as $45, if not more, because of the vast amount of money being moved around. This makes cryptocurrencies a cheap and acceptable option for global money transfers in this digital age. The transaction itself is part of moving the funds to a multisignature account. Wallet security is critical in the cryptocurrency industry. This “upgrade’ confirms the funds’ owner wants to keep the money safe at all times. With such low transaction fees, there is no reason not to explore additionally secure options. Despite having numerous transaction inputs, the total cost did not exceed $0.45. A very strong sign of how efficient Litecoin can be when moving vast amounts of money over the network. Cheaper Transactions are Possible This news comes at an interesting time Several weeks ago, a Bitcoin transaction worth $194m was broadcasted for $0.10. This makes Bitcoin more efficient than Litecoin in this regard. Every transaction on this level only represents a snapshot of the actual transaction fees. When timed correctly, money can be moved at nearly no extra cost. The war for cheaper transaction fees is still ongoing. Overall costs have declined for all currencies bar Bitcoin Cash in recent weeks. That is a bit surprising, as Bitcoin Cash is often touted as the “better” Bitcoin. Its larger block sizes and faster transaction times have their own merit. However, fees have risen to $0.0285 in recent days. That is cheaper than Bitcoin but more expensive than Ethereum, Litecoin, and XRP. Bitcoin developers still have their work cut out for them. The average transaction fee for Bitcoin still sits at $0.36. That is far too high compared to the other top cryptocurrencies. This is a steep decline from transaction fees of $1.30 in September 2018, though As the Lightning Network becomes more commonplace, these fees are expected to drop even further. Ethereum is also slated to undergo a scaling fork in 2019. How low do transaction fees need to go before people will stop complaining about them? Let us know in the comments below. Images courtesy of Shutterstock The post Litecoin News: $62 Million LTC Transaction Settled for Just 50 Cents appeared first on Live Bitcoin News.

7 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.

7 hours ago

Lina was proudly repping the Particl colors at the Decentral...

Lina was proudly repping the Particl colors at the Decentralised Innovation Startup Hackathon DISH 2018 conference… https://t.co/yooDRQTfn1

8 hours ago

Crypto Arbitrage Today: XLM, ZEC, ETC, XEM, BCH, DOGE

In the world of cryptocurrency, altcoins create some very interesting opportunities for arbitrage trading. Today is no different in this regard, although the opportunities will usually involve using the YoBit exchange first and foremost. That in itself is not necessarily a drawback , but it can be considered somewhat of a hindrance. ZCash (Sistemkoin / Poloniex / YoBit) To kick off today’s arbitrage opportunities, it would appear there are numerous options to buy and sell ZCash for quick profits. Buying on Sistemkoin and selling on HitBTC, Poloniex, or YoBit can yield pretty nice profits. There is also an option to buy on Bitfinex, HitBTc, and Gato to sell on YoBit. Profits of up to 2% can be achieved, albeit the average is closer to 1%. Ethereum Classic (Poloniex / Livecoin / Koineks) There are some significant Ethereum Classic price discrepancies when looking at Ethereum Classic across the exchanges. More specifically, the price on Koineks is lower than Poloniex, YoBit, and LiveCoin. Buying on Poloniex, Gate, Binance, and KuCoin is also far cheaper than YoBit. Profits of up to 3% can be achieved with relative ease. XEM (Koineks / YoBit / LiveCoin) There are numerous opportunities to buy and sell XEM on YoBit for a massive profit. More specifically, its price is 12% higher compared to Koineks and 9% higher compared to LiveCoin. This makes for a very interesting opportunity moving forward, although it is evident these gaps will not remain in place for long as more users take advantage of this opportunity. TRX (KuCoin / OKEx / YoBit) There are a few intriguing opportunities for TRX trading, although buying on YoBit is the only option to score some profits moving forward. Buying on KuCoin, HitbTC, OKEx, or Gate and selling on YoBit will allow for easy gains of 1.5% to 2%. Buying on Bitfinex and Binance are also two viable options moving forward, for those who prefer those options. Dogecoin (Gate / HitBTC / YoBit) For Dogecoin enthusiast, there is such money much wow to be made when selling on YoBit. Buying Dogecoin on Gate, LiveCoin, Sistemkoin, Koineks, HitBTC, and Poloniex allows for profits up to 3.7% with relatively little effort. It is a pretty interesting market first and foremost, especially given how other markets are performing at this time. Bitcoin Cash (Livecoin / Kraken / KuCoin) For Bitcoin Cash speculators are arbitrage traders, selling on YoBit will be the best option when buying on Gate, LiveCoin, Kraken, KuCoin, HitBTC, or OKEx. Buying on Kraken and selling on LiveCoin is also an option. Profits will range anywhere from 0.7% to 4%, which makes BCH one of the more appealing altcoins to keep an eye on. Information is provided by Arbing Tool Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Crypto Arbitrage Today: XLM, ZEC, ETC, XEM, BCH, DOGE appeared first on NullTX.

8 hours ago

XRP Experiences Sudden Surge as NEM Climbs to Nine-Week High

XRP surged more than four percent in a matter of hours, taking its price once again above the $0.52. Presently, there are no clear indications for the surge, but the positive developments concerning both Ripple and XRP continue to saturate the news. Meanwhile, Bitcoin, as well as the other top-ten altcoins continue to post positive numbers in the day’s trading. XRP up by Over Four Percent Within a space of fewer than two hours on Monday, XRP surged from $0.49 to $0.52. The hourly chart for the third-ranked cryptocurrency currently shows the presence of a robust buying momentum. This trend is likely because of an influx of traders looking to purchase the coin in the hopes of an even more sustained bull run. However, the strong buying momentum developing for XRP might cause a trend reversal as sudden as the surge in the first place. XRP will need to surpass and hold the $0.55 resistance level to form a new higher high. The last time the price of the token reached the $0.55 threshold, it lost 11 percent over the course of a few days. NEM Surges 25 Percent to Reach Nine-Week High 17th-ranked NEM is one of the biggest gainers on Monday, surging 25 percent to reach a nine-week high. Unlike XRP, the NEM surge is perhaps easier to explain given the recent news of Coincheck reinstating trading of the cryptocurrency. It is, however, important to note that the price surged began almost an hour before Coincheck posted its official announcement. At the height of the rally, NEM crossed $1 billion in market capitalization, its highest level since the start of September. As at press time, a minor pullback has seen the token’s market cap fall back below the billion-dollar mark. At the start of the year, hackers stole half a billion dollars in NEM tokens from Coincheck in one of the biggest cryptocurrency heists in the history of the industry. DASH and IOTA Fail to 50-EMA Apart from XRP, Bitcoin, as well as the other top-ten altcoins also posted marginal gains. Bitcoin, the top-ranked cryptocurrency is hovering above the $6,400 mark, up by almost 0.5 percent over the last 24 hours. XLM recently upstaged EOS to occupy the 5th position based on market capitalization. Its token price is up by almost 0.3 percent within the last 24-hour trading period. Outside of the top ten, both DASH and IOTA have experienced similar price gains while both failing to break their respective 50-EMA. Image courtesy of Shutterstock and Coinmarketcap. The post XRP Experiences Sudden Surge as NEM Climbs to Nine-Week High appeared first on Ethereum World News.

8 hours ago

A New Cross-border Payments Corridor Between Japan and Brazil Will Be Opened Soon, Utilizing Ripple

Renowned Japanese bank Mitsubishi UFG Bank and its wholly-owned subsidiary Banco MUFG Brasil signed a MoU with Brazil’s Banco Bradesco SA Bank to create a new cross-border payments corridor. The overseas payments network will work between Japan and Brazil, utilizing blockchain solutions from the US-based fintech company Ripple. MUFG is a part of Ripple’s Global Payments Steering Group along with numerous other prominent banking groups of the world. Using xRapid for Cross-border Settlements According to the MoU, the two entities will use the xRapid solution from Ripple for quick and cost-efficient cross-border transactions between Japan and Brazil. Ripple announced the partnership on its Twitter profile, writing: “@Bradesco and @btmu_official are leveraging Ripple’s #blockchain technology. They are going to create a new cross-border payment service between Japan and Brazil.” MUFG is one of the most prominent financial institutions in the world and a part of the Japanese banking entity Mitsubishi UFJ Financial Group. In a press statement, MUFG noted: “The MOU is an extension of an existing September 2017 collaboration agreement between MUFG Bank and Bradesco. Furthermore, it represents the banks’ most recent business engagement.” Ripple’s Global Presence Ripple’s blockchain solutions are being utilized by several prominent regional banking entities to facilitate cross-border payments. MUFG is one of the most significant partners of Ripple that joined its Global Payments Steering Group in March this year. Santander, Bank of America Merrill Lynch, Westpac Banking Corporation, CIBC, Standard Chartered and the Royal Bank of Canada are other members of the group. MUFG said at the time of joining that it is looking forward to utilizing fintech to provide better services to their customers. The solution to be used by MUFG and Banco Bradesco is xRapid, which facilitates easy cross-border transactions using Ripple’s native digital asset XRP. The digital asset is used for making transfers, which is then converted to and from fiat currencies. Using Ripple’s solutions is easier. It eliminates the days of waiting that come with traditional wire transfers and also removes issues like foreign exchange rate for the customers. A New Cross-border Payments Corridor Between Japan and Brazil Will Be Opened Soon, Utilizing Ripple was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

8 hours ago

Daily Berminal Brief: Bitcoin Struggles to Stay Above $6,500 and Upbit will Launch Crypto-Exchanges in Indonesia and Thailand

The State of The Market - November 12, 2018 BTC: $6,389.48 (+0.29%) ETH: $210.90 (+0.56%) XRP: $0.5186 (+3.70%) The overall cryptocurrency market continues to trade within a relatively tight range. Bitcoin dropped below $6,500 again and Ethereum pulled back slightly but still trades above $210. XRP is one of the few tokens showing bullish behavior and the altcoin currently trades above $0.51. Currently, the total market cap is $212.7 billion. In other news, South Korean crypto exchange Pure Bit conducted an exit scam after raising 13,000 ETH and Cardano, Stellar Lumens, and Zcash are rallying on the possibility of a Coinbase listing. 1) The number of daily transactions carried out on the Bitcoin (BTC) network continues to grow and has nearly reached a ten-month high of 273,672. Data from Blockchain shows that daily transactions peaked at 500,000 during the December 2017 - January 2018 bull run and during the toughest parts of the 2018 bear market daily transactions fell as low as 135,000. Since then daily transactions have nearly doubled and the cost per transaction has also dropped to a 1-year low of $36. 2) South Korea's crypto exchange Upbit is planning to launch cryptocurrency exchanges in Indonesia and Thailand. This follows the recent launch of another exchange in Singapore. Per their website, the new Upbit exchanges will offer more than 240 trading pairs and 130 coins. The exchange was attracted by the crypto friendly regulations in the two countries. Since the implementation of the new name system, the expansion plans of the exchange in the country have been difficult. Therefore, Upbit exchange is expanding its operations globally as it is waiting for the domestic trading environment to change. 3) On Sunday Bitfinex changed its fee structure for high-frequency wire withdrawals by adding a 3 percent commission on all external wire withdrawal requests that exceed the new criteria. The fee will apply to users who either make more than two fiat withdrawals in any thirty day period or those that make more than $1 million in aggregate fiat withdrawals over a thirty day period. The new fee structure will not affect low-frequency wire withdrawals which Bitfinex says makes up the greater amount of their customers. SalesCalc, a fee calculating service, found that the new fee structure is nearly the same as PayPal's and a user hoping to withdrawal $1 million would have to pay $29,000 in fees. Some users believe the new fee structure is a ploy to raise the value of Tether (USDT) back to $1.00. (RS)

8 hours ago

Tron Transactions Surpass Bitcoin, Ethereum, XRP and Bitcoin Cash

Tron (TRX) has achieved a new record on its network. Tron’s network has surpassed Bitcoin (BTC), Ethereum (ETH), XRP and Bitcoin Cash (BCH) in the number of daily transactions processed.… Continue reading "Tron Transactions Surpass Bitcoin, Ethereum, XRP and Bitcoin Cash"

8 hours ago

Picking the Right Altcoin in Anticipation of a Bullish Market

The cryptocurrency market, after reaching all-time highs last year, came crashing down throughout most of 2018. The downward spiral resulted in some cryptocurrencies losing anywhere between 90-100% of the gains made during the previous year. The scene has since then changed, and the market has stabilized to a great extent. As we inch closer towards the end of the year, the community is waiting for the much-anticipated bullish market run that has occurred in the previous years. Historic trends show many of the virtual currencies performing well towards the last quarter of the year. The cryptocurrency industry as a whole has undergone transformation and the growth of assets is no longer dependent on promising ICOs and their whitepapers, but real-world applications of the blockchain platforms and their respective cryptos. In this new phase, in order to make profits during the bull-run, the community has to conduct sufficient due-diligence while purchasing the tokens. Choosing the Right Altcoin The flagship cryptocurrency, Bitcoin is no longer the preferred investment option for traders, unless looking for long-term storage of value. Bitcoin has become the epitome of stability in the cryptocurrency market (excluding stablecoins), as its price is least affected by day to day developments in the crypto sector. This leaves altcoins as the preferred investment option, and there are a few things one has to consider before picking the right altcoins. A Few Options Investors should consider actual use cases of altcoins in real-world scenarios, market cap, the reputation of the team behind it and historic trends. Currently, there are three altcoins, Stellar Lumen (XLM), Lisk (LSK) and NAGA Coin (NGC), showcasing huge potential which makes them worth looking into. Stellar Stellar is designed as a decentralized financial protocol fueled by its native lumen (XLM) tokens. The platform is positioned as a competitor of Ripple (XRP) and has gained significant ground as of late. Stellar recently announced the official mainnet launch of StellarX - a zero-fee decentralized crypto exchange based on its own protocol. Lisk Similarly, Lisk is a blockchain platform that enables developers to create dApps. In recent days, Lisk has relaunched itself and migrated to the mainnet. The Lisk Ecosystem includes components like Lisk Core, Lisk Elements, Lisk Commander and Lisk Hub, which will all be updated. NAGA COIN NAGA Coin (NGC) backed by The NAGA Group AG, a publicly traded company, is the preferred currency of the entire NAGA Ecosystem which provides a suite of products and services for the community. NAGA Coin works seamlessly with the predominant fiat ecosystem by enabling users to access funds in three different currencies via USD, GBP, and EUR. NAGA Wallet handles multiple fiat and cryptocurrencies, acts as one application to manage a user’s entire finances within the NAGA Ecosystem. NAGA Card complements the wallet, by providing an easy way to spend the funds, just like any other credit or debit card, all over the globe. And then there is NAGA Trader - a platform to trade a wide range of instruments including commodities, futures, cryptocurrencies, forex, stocks etc., while NAGA Virtual - provides the necessary trading and marketplace infrastructure for traders, gaming enthusiasts and even game studios to list, sell, purchase and trade virtual products. Market Cap and Price Trend When it comes to the use cases, NGC tops both XLM and LSK which signifies a potential rise in demand in the future and hence value. However, XLM tops the charts with a market cap of over $5.5 billion, followed by LSK at $362 million and NAGA at $17 million. XLM is well established and has gained recognition from mainstream financial institutions, and it has been around for a long time. LSK has been through its ups and downs but developers are gradually starting to accept it. NGC being the recent entrant to the segment will still take some time to achieve higher market caps, but signs show that it is sure to get there. And finally, when the price trend of all the three altcoins over the past few months is considered, NAGA has shown great stability even at times of distress in the market, which certainly works in its favor. Taking all the factors into consideration, one can pick their favorite altcoin and prepare themselves to make the most out of the upcoming, inevitable bull-run. The post Picking the Right Altcoin in Anticipation of a Bullish Market appeared first on NewsBTC.

8 hours ago

Ripple, Monero, NEM See Solid Growth Amid Calm, Mostly Green Markets

Markets are seeing a wave of stability, with most major assets seeing low-level fluctuations both red and green, with strong growth from altcoins Ripple, Monero, NEM

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

8 hours ago

Stellar (XLM) Becomes Top-5 Cryptocurrency Pushing Out EOS

Open source cryptocurrency transfer protocol Stellar’s Lumens (XLM) token has entered the top five cryptocurrencies by market cap the week after its $125 million deal with Blockchain. Stellar Lumens Beat EOS To Top 5 Data from Coinmarketcap confirms the repositioning, which gives XLM a market cap of $5.15 billion and relegates TRON to eleventh place and edging out EOS from the Top-5. Stellar (XLM) 00 has seen considerable publicity over the past weeks after executives announced a giveaway campaign with wallet provider Blockchain worth $125 million. As Bitcoinist reported, the campaign was ostensibly designed to draw attention to cryptocurrency more generally among the wider populace, but XLM immediately profited, bucking the general trend to stave off losses taken by other altcoins since. “We’ve already shared our thoughts on how Blockchain Airdrops are a great way for crypto creators to drive decentralization and adoption for new networks. We think they’re great for crypto users too,” Blockchain CEO Peter Smith wrote in a blog post about the giveaway, which is open to anyone with a Blockchain wallet. “...We’re starting with Stellar because its network is built for scalability.” EOS Battles Publicity Crisis Stellar has instigated mass XLM giveaways before, a blog post of its own describing the feature as “core” to its “vision and strategy.” “...The network has grown enough for mass distributions to make sense,” executives wrote. XLM outmaneuvers EOS to enter the crypto top five, the latter facing fresh controversy this week after it emerged agents had the power to reverse transactions which had already confirmed on its network. Currently causing furor on social media, the case in question involved an EOS account which had been phished and funds moved without the owner’s permission. Settling the issue, an EOS ‘arbitrator’ took the decision to simply reverse the transactions, leading to criticism of the protocol’s ethics. In an interview last month meanwhile, CTO Daniel Larimer dismissed the need for decentralized features in EOS, claiming the concept “isn’t what we’re after.” What do you think about Stellar reaching the top five cryptocurrencies? Let us know in the comments below! Images courtesy of Shutterstock The post Stellar (XLM) Becomes Top-5 Cryptocurrency Pushing Out EOS appeared first on Bitcoinist.com.

8 hours ago

PBoC: Cryptocurrencies Will Not Replace or Disrupt Fiat Systems

The People’s Bank of China (PBoC) has shown extreme confidence in the superiority of fiat systems over cryptocurrencies. China’s central bank refused to acknowledge blockchain and its derivatives as catalysts for financial innovation. Stating that no technology was able to disrupt the monetary system, the bureau believed that blockchain would not make any substantial difference in the ways conventional financial protocols govern. It further added that blockchain assets like Bitcoin would remain inflexible and without intrinsic value-credit collateral. The comments came as a part of a 20,000-word research paper published b the PBoC’s research wing. The report, titled “What blockchain can and cannot do,” reaccentuated the Chinese regulator’s anti-crypto sentiments while claiming to be an academic paper as a whole. It discussed various aspects related to crypto and blockchain innovations, ranging from legality to the sheer practicalities of them - by including the potential of dApps, consensus mechanisms, smart contracts, and tokens. Utopian Fantasy Author Xu Zhong, who is also the director of the research wing of the PBoC, particularly highlighted irregularities in the promises and deliveries of blockchain systems, adding that most of them neither land nor produce any social benefits. “In addition to the low physical performance of blockchains, the shortcomings of blockchain economic functions are also important reasons,” Zhong wrote. “It should be based on continuous research and experimentation. Rationally objectively assess what the blockchain can and cannot do.” The PBoC’s research paper went on to calling blockchain as a “utopian fantasy” that projects a mirage of a perfectly stable financial world. The study questioned the merits of decentralization as a whole, stating that blockchain solutions were impractical and were trying to be idealistic orthodox. It mentioned that using technology in hopes to replace institutions and trust would be a hard task, especially when the technology remains mainly unscalable. The PBoC paper nevertheless acknowledged that blockchain could at most be a technology that can improve an existing financial protocol to an extent - not fix it altogether. Related Reading: People’s Bank of China Issues New Warning Against ICOs and Cryptocurrencies Blockchain Bubbles China’s crypto environment is satiated of initial coin offering (ICO)frauds, Ponzi schemes, and illegal activities related to money laundering and trading. The PBoC report touched upon these issues, advising the government to take concrete steps in defining the legal and unauthorized use of blockchain applications. It, however, didn’t offer its insights into how a proper guideline could be created to maximize the use of new ledgers without exposing users to risks. The central bank, under its jurisdictional rights, has already banned the use of digital currencies like Bitcoin. Meanwhile, it has allowed the blockchain industry to flourish in China. Many of the PBoC’s own DLT projects are under development, including the launch of a national digital currency - a Bitcoin-like version of the Chinese Yuan. The central bank held 33 blockchain patents as of 2017, a number that has likely gone up by now. In October, the Chinese government’s news outlet also included a special blockchain section. Featured image from Shutterstock. The post PBoC: Cryptocurrencies Will Not Replace or Disrupt Fiat Systems appeared first on NewsBTC.

8 hours ago

Ripple’s Vanessa Pestritto Recognized As One of the ‘Rising Stars in Venture’ by Forbes

Vanessa Pestritto from Ripple has been included in Forbes “Six Rising Stars in Venture” list. Pestritto works for Xpring, an initiative by the US-based Ripple to support other blockchain companies in finding capital to address their respective needs. Taking Xpring Forward The news was widely shared by the Ripple community on Twitter as Xpring’s Senior Vice President Ethan Beard wrote: “@forbes recognizes @vanessadice, a rockstar on Team #Xpring at @ripple. She’s an outstanding teammate with killer instinct - proud to have her on the team.” Pestritto is based in New York City. She studied economics and international business at NYU Stern School of Business and had worked extensively in technology consulting. She launched her own fund Lattice Ventures and worked as an executive director for the New York Angels before joining Ripple. Her role at Ripple is to oversee the fintech company’s initiative to work with other blockchain companies. She believes that networking is essential for businesses and advises founders to keep sharing with their existing network. She also suggests that founders should: “Look into the networks they have today to find the people to connect with...and if you don’t yet have the network you need, surround yourself with smart, interesting people and share what you are working on”. Finding the Right Balance in Blockchain Venture Capital Vanessa also suggests that entrepreneurs who are networking for a capital raise are still making a big mistake. She says that the founders do not know what they will use the capital for. She adds: “The ‘what’ can be a milestone for the company or a product roadmap goal. Without the what, I don’t know how to be supportive”. Xpring was launched in May this year to incubate, acquire, provide grants and invest in companies with potential. The entrepreneurs will use the XRP ledger and the XRP digital assets to solve the problems for their customers in their respective industries. Ripple’s Vanessa Pestritto Recognized As One of the ‘Rising Stars in Venture’ by Forbes was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

8 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

8 hours ago


News courtesy of berminal.com
Enjoying our data? We have spent over 4000 hours on Platform Development and Coin Research. Donations are welcome!
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We'll open source these formulas soon. Past performance is not necessarily indicative of future results. Read the full disclaimer here.
Dark Theme   Light Theme