Crypto Exchange Poloniex Dumps Eight Underperforming Coins

Poloniex Dumps 8 coins

Cryptocurrency exchange Poloniex is delisting eight coins: BitcoinDark (BTCD), Bitmark (BTM), Einsteinium, (EMC2), Gridcoin (GRC), NeosCoin (NEOS), PotCoin (POT), VeriCoin (VRC) and BitcoinPlus (XBC).

The announcement was made today, September 19, 2018. The coins will be delisted on September 25, 2018, and the exchange says that traders have 30 days to close out trades and withdraw the balances from their accounts. Poloniex says the move is part of a “continuous effort to improve the performance of the exchange and to better serve our customers.”

A spokesperson from Circle, the parent company of Poloniex, told Bitcoin Magazine that the coins were delisted in keeping with guidelines spelled out in Circle’s Asset Framework.

Circle did not specify what criteria the projects failed to meet. However, Poloniex’s volume has been slipping in recent months. Earlier in the year, it was the 14th largest cryptocurrency exchange by 24-hour trading volume, according to CoinMarketCap. Now, it sits at spot number 34.  

Most of the coins that were delisted appear to be lesser-known projects. Several have seen huge drops in price from the beginning of the year. Still, getting delisted from a larger exchange like Poloniex can sound a death knell for small projects, causing a coin’s price to plummet overnight.  

And for others, the news appears to have caught them completely off guard.

Einsteinium’s chief strategist, Ben Kurland, told Bitcoin Magazine the announcement came as a “complete shock.” He said they got the news just as they were in the middle of resolving a wallet issue with the Poloniex development team. “We were not notified ahead of time and given no warning this would occur,” he wrote.

Neos, the project behind NeosCoin, issued a statement about its delisting on Reddit. In response to one Reddit poster who said the delisting was likely a result of Neos missing “deadline after deadline,” Neos explained its project was just a “2-man show for the longest time.” The response provided a window into just how small some of these operations can be.

The delisting also comes at a time when Poloniex is trying to polish its act for regulators. Goldman Sachs–backed cryptocurrency startup Circle purchased Poloniex in February 2018, with the aim of “cleaning up” the exchange and turning it into an alternative trading system, or ATS, which would bring the exchange under regulatory oversight.

In March 2018, the U.S. Securities and Exchange Commission (SEC) issued a clear warning to exchanges that initial coin offering (ICO) tokens may qualify as noncompliant securities. Any exchange that lists securities needs to either register as a national securities exchange or operate under an exemption and set itself up as an alternative trading system.

The move requires Poloniex to register with the SEC as a broker-dealer and become a member of a self-regulating organization (SRO), such as the Financial Industry Regulatory Authority (FINRA).  

Between a tightening regulatory environment and demands for increased security, exchanges delisting coins may become a more regular occurence in the months to come.

This article originally appeared on Bitcoin Magazine.

New Multibank-Backed Venture to Leverage Blockchain for Commodity Trading

Ethereum Commodity Trading Platform

A new venture involving institutional heavy hitters from across banking, trading and energy sectors is tapping into the Ethereum blockchain to settle commodity trades.

Headquartered in Switzerland, the initiative called komgo SA brings together ABN AMRO, BNP Paribas, Citi, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS and Société Générale.

The company has recruited team members from Easy Trading Connect 1 and Easy Trading Connect 2, two blockchain-powered pilots for trading energy and soft commodities. Seeing as the new settlement platform will be built on Ethereum, the venture has struck a development partnership with Ethereum incubator ConsenSys, as well.

“We are now entering a new era of simple and inclusive access to blockchain technology to advance stronger, more collaborative, business relationships previously out of reach. We are thrilled to see leading commodity trade finance banks and commodity houses come together to create komgo SA, which will radically simplify and accelerate trustworthiness, auditability, and accessibility to trade financing across the industry,” Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, stated in the official announcement.

In digitizing the settlement process, a platform like komgo SA could streamline commodity trading, cutting through the paper-laden procedure that is required for these assets to change hands.

The venture hopes to release its two flagship products by year’s end. One of these will set standards for know-your-customer (KYC) verification for its users, wherein “the exchange of documents will be executed in an encrypted way over the blockchain on a need to know basis.” The second product will be a digital letter of credit that will allow institutions to “submit digital trade data and documents” to any bank that has onboarded the platform.

This article originally appeared on Bitcoin Magazine.

Texas State Securities Board Hits Russian Hoaxers with Cease-and-Desist Orders

Texas Russia

Texas Securities Commissioner Travis J. Iles has issued emergency ordinances against three separate fraudulent cryptocurrency schemes linked to Russian scammers.

The orders were issued on September 18, 2018, against DGBK Ltd., an offshore digital “bank” that claims to have developed a hack-proof custody solution for digital assets and virtual currencies; Coins Miner Investment Ltd., a Russian cryptocurrency investment promoter; and Ultimate Assets LLC, a purported cryptocurrency and foreign exchange trader.

Coins Miner Investment Ltd.

Based in Russia, Coins Miner extracts money from U.S. residents under false pretexts, pretending to act on behalf of Coinbase, the San Francisco–based crypto exchange platform. According to the Emergency Cease and Desist Order, it does this by sending spam emails impersonating Coinbase, deceiving investors into handing over their money by leveraging the brand image of the digital asset platform.

The order further specifies that a certain Ana Julia Lara, acting on behalf of Coins Miner, falsely claims to work for Coinbase as a crypto trader. To this end, she also sends out a photograph to investors purportedly showing her with the president of Ripple, whereas the person in the photograph was actually a vice president of Cointelegraph Media Group.

Claiming to operate out of the U.K., Coins Miner is actually based in the Russian city of Volgograd, and it makes several fraudulent claims on its website to prospective investors. On its website and in its marketing efforts, the company also deliberately misrepresents a video of a Fortune journalist to make it seem as though its offering is being promoted. In addition, it uses stock photographs to represent its team and its office deceitfully.

Under Texas law, the investments promoted by Coins Miner are classified as securities, but they are not registered to sell securities in the state.

DGBK Ltd.

Belize-based DGBK claims to have developed a hack-proof custody solution for digital assets, and it solicits funds to develop this concept. Claiming to be at work on a so-called Photon Encrypted Ledger Key, a digital wallet that can be opened using biometric data, the company claims that it can facilitate fully anonymous and untraceable transfers of cryptocurrencies and fiat currencies like the U.S. dollar.

Using a misappropriated video of Barack Obama speaking at the 2016 South by Southwest (SXSW) Interactive festival in Austin, DGBK offers prospective investors the opportunity to invest in the DGBK token with promises of up to 1,900 percent returns following the ICO, set to be held next year.

The company claims to have on its payroll a litany of cybersecurity experts and blockchain specialists without offering any proof to support these claims, and it also offers securities for sale without following the necessary registration requirements.

Ultimate Assets LLC

Claiming to be based in Arlington, Massachusetts, but with no provable address, Ultimate Assets promises investors that an investment of $1,000 will turn into $10,000 within just three weeks. It also falsely claims that all initial investments in the trading program are fully indemnified and that refunds will be issued in the event of failure to yield profits.

Its principals listed in the Cease and Desist Order are also accused of violating the Texas Securities Act by offering securities investments without being registered with the Securities Commissioner.

This article originally appeared on Bitcoin Magazine.

Bitcoin Price – Shorts Rekt by Crypto Whales

bitcoin price whale

After sideways trading in the past 2 weeks between the $6,100 and the $6,500 support and resistance lines, Bitcoin decided to say hello by bouncing between the two ranges in a matter of minutes. What caused the Bitcoin price to drop to a low of $6,100 then bounce up to $6,500 only to settle at $6,400? What does the future hold for the BTC market?

Why did the Bitcoin price moved so much and so fast?

Most traders speculate that the reason for the recent volatility is the fact that CBOE futures close today. Someone bought a large amount of coins in anticipation for these contracts to expire. This means that those who entered a short position will incur a loss and those who entered long are going to be up quite a few percent. Effectively, shorts got rekt.

What does the future hold for Bitcoin?

In the past 7 months, the Bitcoin price has been refusing to hit new lows. The $6,000 support level has been a key point after each push by the bulls. On the other hand, there has also been a bearish triangle forming that is slowly getting weaker and weaker. If you were to draw the two trend lines they end up meeting at roughly the end of October. As the chart below shows, we should anticipate some price action at that time:

bitcoin breakout october
Chart: Tradingview

Currently Bitcoin is trading at $6,433 and is holding that price relatively well. It is nice to finally see some considerable movement in the price, as the sideways market has been putting many traders to sleep. It is also great to see the whales on the playing field as it means BTC has real potential to make some crazy moves in the near future.


What do you think the reason is behind the recent movement? Let us know in the comments section below!

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Coinbase hires Fannie Mae exec Brian Brooks as chief legal officer

Coinbase has made yet another addition to its C-suite. The cryptocurrency trading platform has hired Brian Brooks, the former executive vice president, general counsel and corporate secretary of Fannie Mae, as its chief legal officer.

The hiring is part of the company’s effort to expand its legal, compliance and government affairs teams. Mike Lempres, who until now held the chief legal and risk officer title, will transition into the role of chief policy officer.

“From the time it was founded seven years ago, Coinbase has been a leading advocate for the adoption of cryptocurrency,” Coinbase CEO Brian Armstrong said in a statement. “We’ve engaged proactively with regulators as we built products and services that allow people to buy, sell and use cryptocurrency all over the world. In recent years, the industry expanded faster than we could have imagined with an explosion in customer demand and entrepreneurial activity pushing the capabilities of the ecosystem forward. As this trend continues, it is more important than ever that we contribute to a public policy and regulatory environment that fosters innovation while protecting investors.”

Brooks joined Fannie Mae in 2014; before that, he was the vice chairman of OneWest Bank and a managing partner at the law firm O’Melveny & Myers.

The news comes one day after Coinbase announced the hiring of Michael Li as VP of data. Li had spent the last seven years at LinkedIn, most recently as its head of analytics and data science.

Here’s an updated round-up of Coinbase’s other notable 2018 hires:

  • Michael Li, VP of data (September). Li was previously the head of analytics and data science at LinkedIn.
  • Tim Wagner, VP of engineering (July). Wagner was previously a general manager at Amazon Web Services.
  • Jeff Horowitz, chief compliance officer (July). Horowitz was the former global head of compliance at Pershing.
  • Jennifer Jones, chief accounting officer (July). Jones joined from EY, where she was a senior manager.
  • Alesia Haas, chief financial officer (April). Haas joined from New York-based alternative asset management firm Oz Management.
  • Balaji Srinivasan, chief technology officer (April). Srinivasan joined through the company’s acquisition of Earn.com, where he was CEO.
  • Rachael Horwitz, VP of communications (April). Horwitz was formerly a partner at Spark Capital.
  • Tariq Meyers, global head of belonging and inclusion (April). Meyers was formerly the head of diversity and inclusion at Lyft.
  • Emilie Choi, VP of corporate and business development (March). Choi joined from LinkedIn, where she was head of corporate development.

Dogecoin Price Watch – Altcoin Stumbles, Loses Nearly 10%

dogecoin sizzling offer

Dogecoin – the cryptocurrency that began as a meme and one that represents cute little Shiba Inus everywhere – has dropped quite a bit. Over the past two months, the currency has been a real surprise in the altcoin space, moving up the financial ladder while other altcoins experienced slips in their attempts for glory. A lot of traders are extremely excited about the recent dogecoin price action. However, can the market hold the bullish momentum?

Now, the coin has lost over nine percent of its value, with approximately five percent disappearing in the last 24 hours alone. At press time, the currency is trading for about $0.005495, and bearish behavior appears imminent in the short-term.

DOGEUSD: Recurring bearish pattern identified. Short to the 1W support.

DOGE was the top-performer of August, and ultimately took third place in July. In September so far, DOGE is also slated to be one of the top-performing altcoins despite the recent price slide. However, the currency’s trading volumes have seemingly decreased by half, dropping from about $60 million to $30 million at the time of writing.

Overall, DOGE sees about 31 percent of its trades against USDT and about 57 percent of its trades against BTC per data from digital asset firm Crypto Compare, and it’s estimated that the currency is either going through a minimal, short-term slide, or losing all the gains its encountered over the past month.

This is one of the plausible predictions made by our own staff – that resistance is forming, and the currency could swing all the way back down to roughly $0.0021 in the weeks to come. The current circumstances show this as being a relatively probable outcome.

However, he also suggested two additional, more positive swings for the currency, one being that a final pump of the price that could potentially cause DOGE to swell to roughly 200 Satoshis (it’s currently priced at 87). It’s unclear if the currency can hit this price, and something along the lines of 192 is likely to stand as more realistic, though DOGE could also go as high as 220. From there, a major correction would be in store for the asset.

The third and final prediction is the most bullish and says that the Dogecoin price could go as high as 21 cents by next year. It’s unclear how such a massive spike could occur considering DOGE would need to increase 300-fold for this to happen. In addition, such a jump would put DOGE at a $210 billion market cap. It’s an unlikely prediction, but if crypto has shown us anything it’s that nothing is impossible.

Regardless of any potential downswings in the coming weeks, the Dogecoin price remains in a very good place. The currency is still trading above $0.0050, which is about $0.0030 higher than where it stood just last week, so perhaps the coin does have some strength left after all.

Dogecoin Charts by TradingView

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Dogecoin Traders Remain Optimistic a New Bounce Will Materialize Soon

NullTX Dogecoin Price Bounce

These are interesting times for the cryptocurrency industry as a whole. Although no real upward momentum can be sustained as of right now, there is still plenty of excitement across the different markets. The Dogecoin price, for example, is stuck in the dirt for the time being. However, with key technical supports almost being reached, there is a likely chance a new bounce will materialize fairly soon.

Dogecoin Price Momentum Remains Uncertain

These past 24 hours have been rather troublesome for all cryptocurrencies. Some initial bearish pressure was turned into minor gains by most currencies. Unfortunately, it seems things have taken a turn for the worse once again, resulting in small to medium-sized losses for all currencies. In the case of the Dogecoin price, the downward momentum hasn’t even relented over the past few days.

More specifically, the Dogecoin price has seen another 8.3% drop over the past 24 hours. Although that would be worrisome where any other cryptocurrency is concerned, the Dogecoin market is always rather different. It seems there is still plenty of excitement among the community as of right now, which will undoubtedly have a positive impact on the price accordingly.

Speaking of excitement, there are a lot of opinions on whether or not Dogecoin should be taken seriously. If Chris Bell is to be believed, Dogecoin is on the same level as Bitcoin. More specifically, he is convinced Bitcoin and Dogecoin are the only two decentralized cryptocurrencies which have seen success after their original developers left. In the case of Dogecoin, Jackson Palmer moved on to different ventures several years ago.

The current Dogecoin price gives technical analysis experts a lot of potential looks at what the market will do next. Vincent Launay is confident there will be another Dogecoin price rally in the near future. For now, the currency seems to be within the “neutral” zone for accumulation, and there is little chance shorting would prove to be beneficial. An interesting train of thought, although nothing is ever certain in the crypto world.

Putting technical analysis aside for a moment, Noah Nattin is taking a very different approach to the Dogecoin price. In his opinion, everyone should just long Dogecoin. While one has to applaud this blatant optimism during these challenging times, it remains to be seen if anyone will follow his advice. The current momentum doesn’t warrant going long, although this lower price may look appealing to the right speculators.

It will be interesting to see if and when the Dogecoin price will go in the green again. One would have expected this to happen for the past 26 hours, yet it seems the opposite is coming true. Slowly but surely its market cap is returning to $600m. The question is whether or not holders and speculators will let the market go that low. A rebound to $750m is equally possible.

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TEMCO Establishes Partnership with Cryptocurrency Fund and Advisory “TLDR Capital”

tldr temco

19 September 2018 – TEMCO Labs has signed a partnership agreement with global advisory firm TLDR. Thomas Graham, Alex Yamashita, and Graham Friedman of TLDR will advise TEMCO in development of TEMCO project.

As the first Asian company to officially partner with RSK, TEMCO’s collaboration with the globally renowned team at TLDR has brought a lot of attention from many cryptocurrency experts and investors around the world.

TLDR is a leading crypto advisory firm, specializing in tokenization of projects and cybersecurity. TLDR is headquartered in London with offices in NYC, SF, London, Tokyo, and HK. As practiced investors, the TLDR portfolio contains many successes such as Kyber Network, Gifto, ICON, Ox, Quanstamp, Aelf, IAMA, and APEX.

TLDR team is made up of prominent leaders, who have contributed to many startups looking to participate in the decentralized landscape. Managing partner Thomas Graham, and co-founders Alex Yamashita and Graham Friedman, along the entire TLDR team will contribute their expertise to the success of TEMCO’s platform.

Thomas Graham is the managing partner at TLDR, who is an expert in crypto advising. He is a leader in the big data, database, and brand tech worlds. Mr. Graham holds a BA, LLB, LLM, and graduated from Harvard Law School and Melbourne University. Through his experience and expertise, he co-founded leaders of crypto initiatives in the marketing and advertising industry. He also co-founded Ma7pD, the world’s leading GPU in-memory database, and Media Protocol, an open source blockchain protocol that gives brands visibility about how consumers interact with and share content.  As a strategic advisor, Mr. Graham will provide advice on the development of blockchain technology and operation, compliance with global regulations, and laws regarding the industry.

Alex Yamashita is a partner and co-founder at TLDR, who is responsible for capital development, strategic partnerships, and new business lines. He holds a BA in Economics from Yale University. Mr. Yamashita was previously employed at Goldman Sachs as an analyst. He also worked at CLSA as VP of Asian Distribution. Mr. Yamashita advised various businesses regarding financial strategies. As an investment advisor, Mr. Yamashita will advise on investments, networking, finance and more.

Graham Friedman is a partner and co-founder at TLDR specializing in bringing messages to actionable content. His background as an NYU Tisch graduate, combined with his involvement in the space, provide him with a unique insight into proper brand messaging for decentralized projects. As a marketing advisor, Mr. Friedman will advise TEMCO on marketing and visual impact of the project.

Scott Yoon, CEO of TEMCO, mentioned, “TLDR is a company that understands cultural differences of the cryptocurrency market and knows the effective approach to building business strategies. With the help of TLDR’s global networking skills, TEMCO can expand its global presence.”

Tom Graham, managing partner of TLDR, said, “TEMCO is an impressive team, and the first RSK project that we’ve worked with. We see numerous problems in the supply chain space that can be solved, or at least facilitated by blockchain applications. TEMCO convinced us that they are capable of taking the next steps in merging these two fields and we are excited to support them in this endeavor.”

TEMCO is developing an innovative blockchain based supply chain management system using RSK blockchain on the bitcoin network. Unlike other supply chain platforms, TEMCO is also developing a business intelligence tool and consumer application.

About TEMCO

TEMCO is a supply chain platform that connects isolated supply chain systems and offers real-time data services through their business intelligence tool and consumer application. Using the Rootstock (RSK) blockchain, TEMCO helps companies operate more efficiently and aims to overcome the flaws in existing supply chain management systems which have resulted in recent widespread uncertainties and rising fears in product quality.

To find out more about TEMCO, please proceed to temco.io.

This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Sustainable EOS Fork Telos Prepares for Hard Fork

eos crypto

With a market cap of well over US$4 billion, EOS is a behemoth in the crypto space. It’s many supporters hail the network as the “Ethereum killer”, citing free transactions and massive transaction throughput. Additionally, it boasts the most successful ICO in terms of funds raised to date.

Despite these metrics, EOS maintains a questionable reputation in the cryptocurrency space. Skeptics (of which there are many) instead focus on the many vulnerabilities and shortcomings of the platform as proof of its incapability. These critiques are not unfounded, as EOS has been plagued by hacks, network freezes, and rollbacks in its first few months of mainnet activity.

Disgruntled supporters have taken action to rectify the blunders of the blockchain in a number of ways. One such initiative is seen through Telos, an upcoming hard fork of the EOS blockchain that addresses weaknesses in EOS through a number of corrections to the protocol.

A few of the primary concerns universally shared throughout the crypto space focus on issues pertaining to the accessibility, governance, and decentralization of EOS. The Telos foundation seeks to provide solutions to each of these concerns.

Although transactions on EOS are free, users must purchase RAM from the network to create EOS accounts (EOS uses human-readable IDs, rather than traditional addresses). While these prices fluctuate with demand, individuals can typically expect to pay US$20 or more to create an EOS account. Telos has enabled measures to maintain affordable rates for network RAM. The first one million accounts on Telos are free to create, too.

Other concerns come from the powers and roles of the 21 block producers in the EOS network, who act as an e-government and carry the privilege to freeze and even rollback accounts and the network as a whole. While EOS block producers are paid hundreds of thousands of dollars each day to upkeep and propagate the network, there are little checks in place to ensure they are faithfully doing their job. Telos has instituted a number of changes to the block producer model to give users a larger and more consistent say in those whole fill the role of BP. Additionally, there are measures in place that producers must follow. If they cannot, they are temporarily (and eventually permanently) replaced.

Lastly, there are significant criticisms that lie in the distribution of EOS wealth. Just 10 accounts hold 50% of all EOS, and 1.6% hold 90% of the network’s wealth. While Telos represents a 1:1 airdrop for EOS holders, there is a caveat attached. All accounts are limited to 40,000 EOS. Although this will only effect less than 1% of all EOS holders, it will reduce the supply over 85%, creating a network with an impressive distribution of wealth, far more diverse than seen through Ethereum, Bitcoin, and other major networks. As Telos is not orchestrating an ICO of any sorts, this is truly a solution that does not stand primarily to benefit one centralized group of individuals.

September 28 markets the intended launch of the Telos fork. At a specific snapshot, EOS holders will be eligible for their 1:1 Telos airdrop. The platform has earned support from a number of entities and individuals within the EOS community, so it’ll be interesting to see if the hard fork can place any real contention to the majority support currently behind EOS.

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DasCoin to Go Live on CoinBene

dascoin cryptocurrency logo

Michael Mathias, DasCoin’s CEO has made an announcement that DASC is due to go live on CoinBene – a top global exchange for cryptocurrencies and a key step in DasCoin’s forward momentum. This popular exchange will allow easier public trading for everyone involved.

Easy Access to DasCoin

CoinBene is a successful exchange, consistently ranking among the top 10 on CoinMarketCap, making this Singapore-based exchange an ideal choice in DasCoin’s continuing to move forward. CoinBene is an exchange that has just over two million current users spread through 150 different countries, processing nearly $4 billion every month. This massive Asian cryptocurrency network of traders will have access to DASC when it goes live, allowing for greater exposure.

Details

There are plans for similar announcements as Mathias works to get new listings for DASCon well-known exchanges. DasCoin will see improved global reach with this expansion and, therefore, more forward movement. A London event saw DasCoin expand as it joined EUBX, BTC-Alpha and CoinFalcon. Vetting exchanges took several months before the decision to list on CoinBene became finalised.

Why CoinBene?

There were several reasons for CoinBase’s selection as an exchange. At the forefront of these is its easy digital access. Moreover, there are seven different language choices on CoinBene, a minimal learning curve for inexperienced users, and an exchange interface that is familiar and user-friendly.

Changes on DasExchange

You can still trade DASC on the internal DasExchange, allowing for use of its order book, buying, and selling. There has been an adjustment allowing for the increase in users who are utilizing the wide range of information to make their buying and selling choices. Once listed to two decimal places on DasExchange, DasCoin currently has a minimum of five decimal places. The entire process allows for more transparency when matching buy and sell orders and allowing for pricing differences.

DasCoin’s Future Advances

Being included on CoinBene exchange isn’t the only news involving the cryptocurfrency. Mathias has big plans for the exchange. In addition, industry leaders such as CoinMarketCap and Blockfolio have listed DASC, with more announcements expected at a later date. Finally, July 2018 saw a dramatic decrease in blockchain speed, moving down from six seconds a block to three seconds. This secures the cryptocurrency a place as one of the fastest blockchains available.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Hedge Fund Doubts Litecoin’s Viability, How Does Dash Measure Up?

The crypto-fund Multicoin Capital has released an in-depth analysis on why they believe the arguments in favor of bull market movements for Litecoin are weak and do not stand up to scrutiny.

The paper started off by disclosing that the firm is short Litecoin and went into saying “Litecoin is a relic of the pre-smart contract platform crypto ecosystem” and is on the decline. The paper listed many reasons that included market maturation, negative catalysts such as Segwit and Lightning Network reducing the need for Litecoin, lack of funding to the Litecoin Foundation, and Charlie Lee’s divestment from Litecoin. The paper then goes on to discuss these and other attributes in more detail and debunks common arguments that are used to support Litecoin due to inaccuracies or insufficient evidence.

The article also drew attention to Litecoin’s original founding as “an altcoin optimized for CPU mining” since “advancements in GPU mining had rendered mining BTC with CPUs unprofitable”. Charlie Lee saw this as a “shift away from fairness and decentralization” and motivated the changes to create Litecoin. However, the paper added that today, Charlie’s “initial vision of fairness and decentralization through low barriers to entry mining has ultimately become obsolete” because of GPU mining improvements for Litecoin as well as Bitmain releasing Litecoin ASICs.

Concerns with Litecoin

A theme throughout the paper was the lack of consumer demand behind Litecoin and how Litecoin’s structural developments are not doing much to bolster that consumer demand. The paper touched on The Litecoin Foundation and their ability to remain funded since they only have $322,003.51 USD in funds, of which 81.65% is in Litecoin and only 1.2% is in cash. The author discussed how this hinders their long-term development growth strategy and thus also weakens consumer confidence. The paper also discussed selling pressure from Litecoin miners since they are mining 14,400 new LTC every day and miners often need fiat to cover maintenance and electricity costs.

The article also debunked the common argument that Litecoin is “the silver to Bitcoin’s gold” since Bitcoin is now claimed to be a store of value, while Litecoin is geared more towards a medium of exchange. The author pointed out the precious metals analogy discusses the “value of the ratio of silver-to-gold is based on the idea of price-to-weight ratio” and the fact that “lower price-to-weight ratio makes payments for smaller purchases more convenient”. However, the author clarified that, “digital assets are weightless, and thus the same analysis cannot be made”. In addition, increasing Bitcoin Segwit adoption and the Lightning Network are intended to make transactions more affordable, which makes the argument of Litecoin being “silver” as a medium of exchange obsolete.

The paper then went on to discuss “a founder selling their entire holdings is a massive red flag” and that “despite his intentions, a misalignment of incentives now exists that decreases his motivation to continue development and add value to the protocol”. The author would have preferred Charlie to “time-lock his holdings or use them to fund further LTC development”.

These concerns, among others, is what the paper used as evidence to suggest that Litecoin has an ominous future since it does not differentiate itself from other coins like Bitcoin that now does most of what Litecoin does, but better. Then other cryptocurrencies, such as Dash, provide even more solutions to the problems that were brought up in the paper.

Dash offers solutions where others fail

In contrast, Dash is able to fund its development via the DAO Treasury, an allotment of 10% of Dash mining rewards each month, compared to The Litecoin Foundation basing funds on donations and mining rewards. Dash Core Group, responsible for most of Dash’s code and outreach development, has been able to submit proposals to the DAO Treasury and receive funding approval via the voting mechanism. Additionally, many other Dash projects have been able to receive funding from the DAO Treasury, DashBoost, or DashDonates. Then the upcoming Dash Ventures provides a potentially unlimited source of funding since it will act as a VC fund investing in projects and granting the returns to the Dash network. Due to this funding success, Dash has been able to achieve real world adoption, over 3,000 merchants globally and countless use cases, which creates demand and buying pressure on Dash to counteract the selling pressure from miners. Dash also has a system of Masternodes, whom receive returns on the 1000 Dash they stake to secure the network and to decide on which proposals to fund via the Treasury. This system further incentivizes holding of Dash, as opposed to the selling incentives seen with Litecoin.

Further expanding on Dash’s real world usage, Dash has achieved actual, everyday, real world usability, which makes the whole ‘Bitcoin is digital gold’ and ‘Litecoin is digital silver’ argument a mute point. Dash is Digital Cash that enables consumers to conduct cheap remittances or make a plethora of purchases from online gift card providers, street vendors, restaurants, gas stations, travel bookings, fantasy sports games, and much more. Dash’s usability stands in stark contrast to Litecoin, which the analysis highlighted lacks significant merchant adoption other than through POS systems that integrate vast swaths of cryptocurrencies at a time. Dash also differentiates its usability from Bitcoin Lightning Network since the LN is intended to solve Bitcoin’s transaction fee and confirmation time spikes, but currently lacks on-chain liquidity, whereas Dash already offers record low fees and extremely fast confirmations to all Dash users.

Furthermore, Dash sends a stronger confidence signal to consumers than Litecoin and Charlie Lee do since Evan Duffield, founder of Dash, has shut down his masternodes and stepped away from Dash Core Group, but dedicated his funds and time to Dash Labs in the pursuit of making Dash “future-proof”. All of these features above allows Dash to provide consumers with increasingly better services to have inexpensive, fast, and reliable decentralized, digital, peer-to-peer currency, which makes Dash stand out in the crowded cryptocurrency space.

 

6 Institutional-Grade Bitcoin OTC Traders Worth Checking Out

bitcoin otc trading

Most of the Bitcoin trading volume does not originate from centralized exchanges. To the novice user community, that may seem rather strange. However, OTC has, and always will be, a far more liquid to buy and sell large amounts of cryptocurrency without affecting market prices directly. Below are six Bitcoin OTC traders most people have not heard of, yet they are all worth checking out.

#6 SFOX

sfox logo

Although OTC trading is accessible by regular consumers as well, SFOX is intent on attracting the institutional investors, hedge funds, family offices, and high-net-worth players. The company has recorded over $9bn worth of transactions today, and the firm was founded back in 2014. At this time, the firm provides exposure to Bitcoin, Ethereum, and Bitcoin Cash, all of which can be traded for the US Dollars.

#5 Octagon Strategy

octagon strategy logo

The self-professed largest digital asset brokerage of Asia offers OTC trading to institutional players. Its liquidity is quite superb, but that is no unnecessary luxury. This firm maintains a minimum trade order amount of $100,000, making it one of the more “serious” firms offering this type of exposure to Bitcoin and other cryptocurrencies in general.

#4 FBG Capital

fbg capital

This digital asset firm specializes in the blockchain-based capital market. As such, they provide exposure to Bitcoin for institutional traders and other powerful entities in the financial world. This firm is located in China, a region where Bitcoin trading is often considered to be disallowed. Even so, firms like these find ways to survive and continually manage high-volume trading.

#3 XBTO

xbto logo

As the name suggests, XBTO is an OTC trading services provider focused on conducting trades with qualified counterparties. They also provide liquidity of assets and derivatives, as well as strategic investing and asset management. It is a firm mainly catering to large institutional traders, and the firm is often considered to be one of the world’s largest liquidity providers in the digital asset OTC market.

#2 QCP Capital

qcp capital logo

Another company active in the Asian region, QCP Capital tackles OTC trading, market making, and treasury services. Its OTC service is known for deep liquidity, immediate settlements, multi-currency pricing, and so forth. One thing worth noting is how this firm has no trading fees in place, which is rather unusual when dealing with vast sums of money.

#1 Genesis Trading

genesis trading logo

By far the best-known name in the world of institutional OTC trading, Genesis Trading has been focusing its attention on digital currencies and assets for some time now. Their basket of support currencies is quite large, as it includes BTC, BCH, ETH, XRP, LTC, ETC, and ZEC. Institutional clients can also request new assets to be traded on their behalf. There is a $75,000 transaction minimum when dealing with this firm, yet they are fully compliant with FINRA, SEC, and the NYDFS.

The post 6 Institutional-Grade Bitcoin OTC Traders Worth Checking Out appeared first on NullTX.

Top 6 Cryptocurrencies Producing the Most Network Blocks

blockchain forming

There are many different aspects to creating a successful cryptocurrency or digital asset project. All of these concepts use a blockchain of some sorts which records blocks with new transactions and other relevant data. The following six projects – ranked in ascending order –  generated the most network blocks in a 24-hour period between September 18th and 19th of 2018.

#6 PIVX

One of the more popular privacy-oriented cryptocurrencies, PIVX seemingly notes a lot of blockchain activity on a regular basis. Over the past 24 hours, the altcoin added 1,827 network blocks, which makes it a rather busy network. PIVX is designed to maintain a block time of around 60 seconds, which means the network can process a maximum of 1,440 blocks every single day. However, as the difficulty is readjusted every block, this discrepancy is not all that difficult to explain.

#5 Verge

Even though the cryptocurrency community remains somewhat divided about its opinion on Verge, the network appears to be trucking along nicely. With 2,591 blocks generated over the past 24 hours, it seems Verge’s network is more than healthy. The official website does not list Verge’s current block time, yet based on the statistics, it appears to be roughly 30 seconds.

#4 Digibyte

There is a lot of excitement regarding Digibyte among the altcoin community. Regardless of that excitement being warranted or not, the network is processing a lot of blocks every single day. Over the past 24 hours, the Digibyte network noted 5,777 blocks, which is a rather impressive number. With a current block time of 15 seconds, Digibyte is rightfully called one of the fastest networks in the cryptocurrency world.

#3 Ethereum Classic

Most people in the cryptocurrency world appear to disregard Ethereum Classic. Even though this project forked from Ethereum a while ago, it is evident ETH needs to keep evolving. Its network successfully generated 6,067 blocks over the past 24 hours. An average block time of just over 14 seconds is a main contributor to the high amount of blocks generated in such a short period of time.

#2 Ethereum

It is not entirely surprising to see Ethereum and Ethereum Classic rival one another in terms of number of blocks generated per day. In the case of Ethereum, it maintains a slight edge over ETC. With 6,080 blocks being processed over the past 24 hours, things look rather promising. At this time, Ethereum’s average block time sits at 14.2 seconds, which is virtually identical to Ethereum Classic.

#1 EOS

Ever since launching the EOS main net, things have been firing on all cylinders. EOS processes network blocks in a very different manner compared to most other cryptocurrencies. That also explains why the network can easily deal with over 172,500 blocks in a 24-hour period. The average block time of just 0.5 seconds is being utilized to its full potential as of right now, by the look of things.

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Treasury Select Committee: Regulation Needed in Crypto Industry’s “Wild West”

MPs on the U.K.’s Treasury Select Committee have said that the crypto industry is the “wild west” and that investors are left facing “numerous risks” due to the unregulated environment. According to Conservative MP Nicky Morgan, chair of the committee, the current situation is unsustainable, reports The Guardian. “Bitcoin and other crypto assets exist in […]

The post Treasury Select Committee: Regulation Needed in Crypto Industry’s “Wild West” appeared first on Coinjournal.

Treasury Select Committee: Regulation Needed in Crypto Industry’s “Wild West”

MPs on the U.K.’s Treasury Select Committee have said that the crypto industry is the “wild west” and that investors are left facing “numerous risks” due to the unregulated environment. According to Conservative MP Nicky Morgan, chair of the committee, the current situation is unsustainable, reports The Guardian. “Bitcoin and other crypto assets exist in […]

The post Treasury Select Committee: Regulation Needed in Crypto Industry’s “Wild West” appeared first on Coinjournal.

Top 5 Most Pumped Cryptocurrencies in the Past Week

most pumped cryptocurrencies

There is always plenty of cryptocurrency market activity on any given day. While the top 10 coins only usually move a few percent a day, there are other newer altcoins that are much more volatile. The following six currencies are ranked by their current seven-day increase.

#5 BaaSid

BaaSid focuses on splitting and distributing text and images of personal information and distributing them on a public blockchain. This currency has not been noticed by most traders as of yet, but that doesn’t mean that it can’t experience some crazy market movements. Trading on CoinBene, the BaaSid price increased by roughly 190% in the past seven days, all with under $40,000 in volume.

#4 PiplCoin

A currency with a very unique name, Piplcoin is designed to create a new job-board ecosystem using blockchain technology. Some people have taken notice of this offering, resulting in a 291% increase in value over the past week. Trading only on Livecoin, this strong uptrend is fueled by only $353 in daily volume. The current market cap of this product sits at just $416,566, which means there is still a long road ahead to make it into the top 100.

#3 FUTURAX

FUUTRAX‘s mission revolves around building a modern cryptocurrency trading platform which puts traders first at all times. This past week, FTXT’s price increased 341.3%, most of the volume coming from the IDEX exchange. It is a very strong uptrend for a currency with just $141 traded in a 24-hour period. 

#2 SuperCoin

SuperCoin experienced SuperMomentum in the past week. At its core, SuperCoin focuses on fast and anonymous transactions. This past week, Supercoin has noted a strong 393.9% increase. However, it is lacking on trading volume and market cap. At the time of writing, just $197 worth of trades have been recorded in the past 24 hours, all coming from CoinExchange.

#1 Regalcoin

Regalcoin aims to position itself as a staking platform and seems to offer use cases very similar to Bitcoin, albeit in an anonymous manner. It experienced a very regal 414.74% increase in the past week. However, the average daily trading volume at the time of writing is a whopping $16, coming evenly from both CoinExchange and YoBit.

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S Korea’s Dunamu Expands Crypto Exchange Upbit to Singapore

South Korean fintech company Dunamu Inc. is expanding its crypto-asset exchange business to Singapore. The company said it chose Singapore as its first overseas destination and “launching pad” into foreign markets, citing the country’s strong support for blockchain and cryptocurrency. The exchange, which will begin operations in October, will offer the same features as the […]

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S Korea’s Dunamu Expands Crypto Exchange Upbit to Singapore

South Korean fintech company Dunamu Inc. is expanding its crypto-asset exchange business to Singapore. The company said it chose Singapore as its first overseas destination and “launching pad” into foreign markets, citing the country’s strong support for blockchain and cryptocurrency. The exchange, which will begin operations in October, will offer the same features as the […]

The post S Korea’s Dunamu Expands Crypto Exchange Upbit to Singapore appeared first on Coinjournal.

Cryptocurrency Exchange OKCoin Expands U.S. Offerings with Five New Coins

Cryptocurrency Exchange OKCoin Expands U.S. Offerings with Five New Coins

Following a successful launch in California only a few months ago, the U.S. branch of cryptocurrency exchange OKCoin is adding five new coins to its listings. Those coins include Ripple (XRP), Cardano (ADA), Stellar lumens (XLM), Zcash (ZEC) and 0x (ZRX).

OKCoin made the announcement today, September 19, 2018. The new coins will be paired with the U.S. dollar, bitcoin and ether, the native cryptocurrency of the Ethereum platform. Trading against fiat pairs will be available to California residents only, while crypto-to-crypto pairs will be available in California along with 20 other states across the U.S.

“We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them,” said Tim Byun, OKCoin USA CEO, in a statement. He added that OKCoin is committed to only bringing in tokens “that offer utility, value and demonstrable use cases.”

The moves comes at a time when the exchange is aggressively growing its business in the U.S. OKCoin originally set up shop in Mountain View in November 2017. In June 2018, the company relocated to San Francisco, and the following month, it officially announced its presence in the U.S. when it began offering trading between the U.S. dollar and several major cryptocurrencies. Just a week ago, after getting the green light from U.S. and state regulators, OKCoin opened up crypto-to-crypto trading in numerous other states.

The exchange itself has a long history. One of the oldest crypto exchanges, OKCoin was originally launched in China in 2013. At the time, China was considered the world’s hub for bitcoin trading, and OKCoin became one of the three biggest exchanges in the country, alongside Huobi and BTCC.

OKCoin originally focused on bitcoin-to-yuan trades. To attract a crowd of more professional traders, the following year, the company launched OKEx, which offered hundreds of token-to-token trading pairs. The setup is similar to how Coinbase, a popular cryptocurrency exchange in the U.S., operates Coinbase Pro (formerly GDAX).

China’s cryptocurrency trading business took a hit when the Chinese central bank began regulating bitcoin starting in December 2013. In September 2017, the People’s Bank of China lowered the final curtain when it issued an all-out crypto trading ban in the country. In the past 18 months, OKCoin  was also deeply affected when regulations kept it from providing service in nine other countries.

Today, OKEx is listed on CoinMarketCap as the second-largest exchange by trading volume, but looks can be deceiving. Critics argue that the exchange is a virtual “ghost town” and 93 percent of trading volume is fake. In an attempt to regain some of its former glory, OKCoin International relaunched in April 2018, with an eye on the U.S.

Due to regulatory uncertainty in the U.S., it may run into some old, familiar roadblocks. If the U.S. Securities and Exchange Commission (SEC) rules that Ripple, Ada and other popular coins are securities and subject to the same regulatory oversight as stocks, OKCoin will have to either severely limit its offerings or register with the SEC as a broker-dealer or move to become a licenced alternative trading system (ATS), sort of along the lines of what Coinbase is aiming for and what Circle is doing with Poloniex.

This article originally appeared on Bitcoin Magazine.

Longs vs Shorts – BTC, BCH, ETH, IOTA, XMR Roundup for Week 40 of 2018

long vs shorts

With a new week of cryptocurrency trading upon the community, it is always good to see what the future will hold in terms of short and long positions. Things have changed a bit compared to just over a week ago, although this current trend does not necessarily indicate how the week will play out. The following coins are ranked in ascending order by their current market cap.

#5 Monero

monero logo

The previous long vs shorts positions clearly seemed to favor shorting Monero. This popular altcoin has increased in market cap ever since and successfully reclaimed its position in the top 10. The current margin trading activity still seems to favor shorting XMR. Over 62,600 XMR worth of positions are in shorts right now, compared to 27,100 XMR in longs. Whether or not Monero will continue to truck along, remains to be seen.

#4 IOTA

iota logo

There is a vast increase in the number of IOTA long positions over this past week. More specifically, over 22 million MIOTA is currently leveraged in longs, compared to just 6.81m MIOTA in shorts. There is a notable increase n shorts over the past few hours, which is a bit in line with how this altcoin’s USD price has faltered a bit over the past few days. For now, the outlook remains positive, but nothing is ever set in stone.

#3 Bitcoin Cash

A major drop off in both longs and shorts for the same currency is very uncommon. In the case of Bitcoin Cash, both margin positions are going off a cliff, although this may have something to do with missing market data first and foremost. At this time, over 30,400 BCH is in longs, versus 28,450 BCH in shorts. It is difficult to predict which option is the better one at this stage.

#2 Ethereum

ethereum erc code

After a few rather rough weeks for the Ethereum price, it seems things have begun to improve again. The number of long positions is also on the rise, courtesy of 381,500 ETH in longs. On the shorts side of the spectrum, there is nearly 231,000 ETH in short positions. This seems to indicate the Ethereum price momentum may remain in place, albeit markets tend to remain volatile.

#1 Bitcoin

A lot of cryptocurrencies hinge on Bitcoin’s price momentum prior to note any gains or losses. In the case of the long positions, there is a massive drop off in the past few hours, resulting in 27,100 BTC leveraged in long positions. On the short side, there is a noteworthy increase, pushing the figures to over 37,400 BC in short positions. How this will pan out, remains unclear. Bitcoin may see some bearish pressure in the coming days and weeks.


One always has to keep in mind long and short positions do not tell the entire story. Although they are one indicator as to how certain prices may evolve, there is never any guarantee things will swing in either direction. For now, the longs favor Ethereum, whereas everything else is suffering from a lot of bearish expectations. An interesting week lies ahead in this regard, that much is guaranteed!

The post Longs vs Shorts – BTC, BCH, ETH, IOTA, XMR Roundup for Week 40 of 2018 appeared first on NullTX.

Dash Text SMS Wallet Launches in Venezuela Enabling Transactions Without Internet

Dash Text, a wallet service enabling Dash transactions via SMS message, has launched its public beta in Venezuela.

The service operates Dash wallets by SMS-based commands, sent to a five-digit shortcode similar to those used in popular SMS voting. This enables anyone with a cell phone of any kind to transact in Dash without an internet connection, a particular bonus in a country where only 40% of the population has access to a smartphone, and which has experienced electrical and internet outages due to its ongoing economic crisis. Dash Text was funded by Dash treasury proposal:

According to Dash Text co-founder and CTO Lorenzo Rey, he was inspired by the lack of access to appropriate phones for Dash usage, as well as popular Bitcoin Cash-based SMS wallet service CoinText:

“I saw how many people wanted to use Dash but couldn’t due to poor signal or bad cellphones, but the idea came from a similar service in Venezuela that uses SMS for payments in bolivars. I started to look if there was something similar already in crypto and found Cointext. tried to contact them but got no response, and decided to develop it on my own.”

Dash Text is currently in public beta and is available to be used by customers of Movistar, one of the three major telecommunications companies in Venezuela. Support on the other two is expected soon upon the platform’s wide release.

Dash Text enables practically free cross-border remittances without internet access

A key benefit of Dash Text is its applicability to remittances. This is due to the ability for anyone in the country to receive funds to their phone regardless of access to internet, instantly, from anywhere in the world, enabling virtually free remittance payments. This is particularly important in Venezuela because of the country’s strong reliance on remittance payments amid its economic crisis, as well as new regulations severely restricting the remittance industry and making receiving cross-border payments much more difficult.

Additionally, Dash Text plans an integration into local point-of-sale systems, allowing SMS-based Dash payments to be used to directly purchase goods and services, without having to transfer or otherwise cash out the payment. A user will be able to receive funds on their mobile and instantly use them to pay for services or goods such as food.

Venezuela’s cryptocurrency success story continues to grow.

Dash’s adoption continues to surge in Venezuela in what may be one of the biggest success stories in the history of cryptocurrency. Over the course of a year-long campaign, monthly conferences have been held, and the merchant adoption program has onboarded over 1,500 merchants, nearly half of Dash’s global total. According to Dash Merchant Venezuela’s head of business development Alejandro Echeverría, this is due to the project’s professional and dedicated sales and customer support team:

“The main reason [for Dash’s incredible adoption in Venezuela] is because we have a specialized team focused on convincing and teaching merchants how to accept Dash. We have 12 sales agents, three executive assistants, and three Q&A agents, all of them working aligned in order to onboard the most merchants we can. But not only the number is important. The key to success is ensure that all merchants have the right information and they have everything made clear, this quality work ensures a long-term relationship. Besides, the Dash Help support center is key for creating confidence because they know they can call us anytime in order to solve any question/problem they may have.”

Finally, Echeverría notes that no other cryptocurrency comes close to Dash in terms of real use for purchases in Venezuela:

“Currently, Dash is the only cryptocurrency that is being promoted as a payment method, and the only one which has over 1,500 merchants, including international and local franchises. Bitcoin is the number one in terms of knowledge, but people see it like a financial investment. Dash is known as a payment method and it is the number one cryptocurrency in terms of adoption and real usage.”

Dash Just Threw Venezuelans Another Lifeline – Making SMS Remittances Possible

dash remittance

Dash is gaining traction throughout the world and, in particular, in developing countries where governments are failing the people. In fact, of the over 3,000 merchants that are listed on DiscoverDash.com, approximately half of them are in Venezuela. This is no coincidence. When people cannot use or rely on their national currency, cryptocurrency is a viable and necessary alternative.

Whether as a means of shielding their wealth from hyperinflation, accepting remittances, or simply paying for things, Dash is catching on. But as with any other cryptocurrency right now, things are far from perfect. While more and more people are spreading the word about cryptocurrency in Venezuela, if people don’t have access to a computer or smartphone, they may as well save their breath.

Mobile Technology and Cryptocurrencies

Smartphone adoption is increasing around the world, which allows for the possibility of cryptocurrency to bank the unbanked. Combining smartphones with crypto will allow for micro trading, micro businesses, and microlending. However, while in the US smartphone penetration is practically absolute, developing countries still lag behind.

In Venezuela, the largest users of Dash, only around 40 percent of the population own smartphones. Which means that cryptocurrency (as we know and use it) isn’t a solution for the majority. Until now.

Two separate services DashText and CoinText have launched providing an SMS-based Dash wallet. This means that Dash can be sent and received without an internet connection or a smartphone. In a country with a growing humanitarian crisis that relies heavily on remittances (which are government controlled and costly), this is a lifeline.

Using either of these two services, remittances can be sent from the US to Venezuela in seconds with just a flip phone.

SMS Remittances Saving Lives in Venezuela

DashText was funded by a Dash treasury proposal and is an SMS-based Dash wallet currently functioning in public beta on one of the three major mobile carriers in Venezuela (although, according to Dash, the other two will follow shortly). It works via a 5-digit shortcode and SMS commands to send, receive, deposit, withdraw, check your balance, etc. You can get a better look for yourself here:

DashText CTO and project lead Lorenzo Rey says, “40 percent of Venezuelans have smartphones and many of them are old smartphones. It’s still a big market considering Venezuela is a third world country, but there are still way too many people who can’t use Dash at the moment. Being able to use Dash on a feature phone opens it up to millions of new users.”

When it comes to receiving money from abroad, SMS remittances are actually saving lives. “It is crucial,” he says. “With the economic disaster, there are millions of Venezuela relying on remittances, and the government is making regulations so that remittances go through them. Being able to receive remittances using cryptocurrencies is crucial for helping Venezuela, and DashText will be the easiest way to do so.”

The Infrastructure Is Growing

CoinText an SMS-based wallet, the inspiration behind DashText in fact, originally only worked with Bitcoin Cash. But they recently began offering support for other cryptocurrencies, including Dash. No official announcement has been released yet, although, DashText CTO tweeted the below, which the CoinText official account retweeted:

Dash Merchant Venezuela head of business development Alejandro Echeverría says, “Currently, remittances represent the income of millions of Venezuelans because there are millions of Venezuelan living abroad who send money to their families in order to help them overcome the crisis.”

Since the Venezuelan government implemented strict regulation for remittances, most Venezuelans are remitting money to their family through illegal third parties that charge up to 40 percent on fees–without offering guaranteed delivery.

“Dash can be used for this since the cost of the transactions is less than a penny, the confirmations are almost instantaneous, and there is a whole ecosystem where people can buy things with Dash thanks to the work done by the teams here.”

Spreading Hope in Venezuela and Beyond

The highest growth in Dash adoption is coming from countries where governments and central banking have failed the people. Since this is the very place that Satoshi came from almost a decade ago, beyond investing and HODLing, speculation and trading, this is a real, valuable, humanitarian use case for crypto.

“When suffering a severe currency crisis the general public and businesses have no option but to look to the free-market to select the best working solution available as an alternative to fiat currency which has failed them. I believe the reason we’re witnessing exponential growth in adoption is because Dash is a truly decentralized borderless trustless solution that is free from state manipulation. Essentially free the market, free the people,” says Dash Force Director of Media and PR.

The post Dash Just Threw Venezuelans Another Lifeline – Making SMS Remittances Possible appeared first on NullTX.

Tron Price up 10% Due to Binance Announcement

tron price rise

These are rather interesting times for anyone who is keeping a close eye on the TRON price. Although this currency has seen a rather solid downtrend for most of 2018, things are finally turning around as of late. Over the past 24 hours, the TRX price has noted a strong 7.71% increase, which indicates its value will surpass $0.02 fairly soon.

The TRON Price Momentum Grows Stronger

After a rough period last week, all cryptocurrency markets are going through some desperately needed positive momentum right now. Over the past 24 hours, the TRX price has shown there is plenty of fuel left in the tank. After a small setback last week, the recent price hike erased most losses in a fairly quick succession.

Assuming the current trend keeps up, TRON should have no problems surpassing $0.02 again. Even though the cryptocurrency maintained a value well above this level for several months throughout 2018, it is evident returning to higher values will remain an ongoing struggle.

Three key developments are getting a lot of attention as of right now. Binance, the world’s leading cryptocurrency exchange, is adding a new market for TRX. Its native Binance Coin token – or BNB – will be paired up with TRX as of today. This is an important development to take note of, as it can introduce additional liquidity for both assets making up this trading pair. By adding the BNB/TRX trading pair, it also shows Binance has relatively high expectations for TRON.

Bittrex, another prominent altcoin exchange, is also making some interesting changes. Over the past few days, it has become apparent the exchange would expose more altcoins to fiat currency trading pairs. You can now trade TRON – as well as Litecoin – against the US Dollar on the exchange. More liquidity in the fiat currency department is great news, especially for TRON.

Some traders are remaining positive when it comes to TRON’s price. Ryan Xander shares his thoughts, explaining how the volume appears to be building across exchanges. It is certainly true the current TRON price looks rather appealing to investors when comparing it to the all-time high reached several months ago. At the same time, those seeking short-term profits may be better off looking at different currencies.

As is always the case, determining the future TRON price will remain challenging. Reaching $0.02 is a matter of time, but remaining above that level will not necessarily be easy. Thanks to its current trading volume of over $115m, the demand for TRON appears to be on the rise. The coming days will be rather interesting to keep an eye on, all things considered.

The post Tron Price up 10% Due to Binance Announcement appeared first on NullTX.

Cryptocurrency Malware Education – XBash

xbash malware

A lot of things are happening in the world of malware and ransomware. Cryptocurrency remains a very prominent target for criminals in this regard. A new malware, which goes by the name of Xbash, seems to combine all of the worst aspects of different malware types into one. A worrisome development, especially if this becomes a growing trend.

XBash is a Very Serious Threat

Cryptocurrency enthusiasts have seen their fair share of experiences with malware in different forms. Wallet-stealers, clipboard-information altering software, ransomware, and Trojans are just some of the examples. As if that is not enough, it now seems cryptojacking is becoming incredibly popular, with hundreds of thousands of devices infected by this type of malware over the past few months.

It now seems some criminals are looking to bring out the worst in malware in a new campaign. The Xbash malware strain is the first example of what the future may hold in this regard. It is designed to target both Windows and Linux systems, and uses cryptomining, ransomware, botnet, and self-propagation tools all in one.

Multi-functional malware has been a growing industry for quite some time now. Although a combination of data destruction and ransomware is nothing new, adding botnet and cryptojacking features to this particular package show criminals will continue to explore new methods in this regard. The fact XBash can spread itself through an entire network in quick succession raises a lot of concerns as well.

Early reports indicate several dozen people and institutions have fallen victim to XBash at this stage. It is expected some victims made an associated ransom payment, as $6,000 has been sent over to the criminals in the process. That figure is a big surprise, as Xbash’s ransomware capability offers no way of recovering data once the payment has been completed.

Under the hood, XBash appears to make use of three different vulnerabilities which can be leveraged against Linux and Windows. The choice to include Linux targets is rather telling, considering Windows is the most commonly used operating system among consumers. In the business world, however, things are very different. Linux reigns supreme in that department, further confirming XBash is not necessarily designed to target regular users.

Security researchers are concerned XBash shows some eerie similarities with WannaCry and NotPetya. It is possible this new malware borrows a lot of code from those two particular malware strains, as both of them have been incredibly successful over the years. It is evident cryptojacking will play an increasing role of importance in the malware industry.

The post Cryptocurrency Malware Education – XBash appeared first on NullTX.

Lite.Im Introduces Litecoin SMS Payments in the US

Lite.im is a very powerful service in the cryptocurrency industry, as it facilitates the use of Litecoin SMS payments to US residents. Making cryptocurrencies easier to use will improve overall adoption in the long run. Mobile services will play an increasing role of importance in this regard.

The Lite.im Concept

lite.im

To this day, it is nearly impossible to transact in cryptocurrencies using simple text messages. Although a few services exist for Bitcoin and Bitcoin Cash, most other cryptocurrencies are left in the cold. That situation is finally coming to change courtesy fo Lite.im, a service which has not gone live just yet.

How Does it Work?

It is evident from the start Lite.im serves one specific purpose. It introduces Litecoin SMS payments on a large scale, which can have a lot of interesting consequences moving forward. On the surface, it allows for anyone in the world to send and receive Litecoin transactions by just using a mobile phone number. There is no need to rely on the Internet, which is always a good sign.

On the technical side of things, users can send messages through SMS or Telegram. Catering to both markets is a smart decision by the team, as it is evident not everyone has access to the internet, even in this day and age. The functionality users can enjoy include checking balances, receiving transactions, and so forth.

As is always the case with services like these, one has to wonder how private keys are handled. The information will not be stored by Lite.im, as the user is the only one with access to this vital piece of information. That is an integral part of the service, as it needs to be a trustless service first and foremost. Lite.im can be a very powerful service moving forward, although it remains to be seen if it can boost Litecoin’s overall appeal.

The Road Ahead

Users who show an interest in this service can check out the Telegram version, or pre-register for the SMS version. The project’s code is also available on GitHub, which shows the developers are intent on being as transparent as possible. How the project will be received by the general public, will become more apparent in the months ahead. Improving overall Litecoin awareness and adoption is always a challenge, but services like these can make a real difference.

The post Lite.Im Introduces Litecoin SMS Payments in the US appeared first on NullTX.

Boomstarter Launches Global Startup Contest With $10,000 Award on Its Blockchain Platform

boomstarter logo

Singapore, September 18, 2018 — Boomstarter.Network, a blockchain-based service for helping entrepreneurs sell with cryptocurrencies, launches a global contest for startups.

The fintech company will award the winner an equivalent of $10,000 to spend on packages of value-added services on the platform.

Boomstarter.Network is disrupting the ever-growing market of rewards-based crowdfunding. It welcomes startups from any country of the world and will directly connect them with backers to generate pre-orders for their products. Based on Ethereum network with smart contracts and payments in cryptocurrencies, it will allow to make funding available to entrepreneurs across the globe removing unnecessary intermediaries like banks and other payment providers.

In contrast, the existing largest crowdfunding services treat entrepreneurs in an discriminating manner, only allowing startups from a handful of industrialized countries to launch their campaigns. Boomstarter.Network will will help entrepreneurs sell pre-orders wherever they hail from.

The world’s most prominent crowdfunding platforms now heavily rely on banks and payment systems. Notably, these financial agents are the primary reason why startups spend long weeks waiting to receive the money for pre-orders they have sold. With Boomstarter.Network, entrepreneurs will receive the funds in a matter of minutes, with more time to devote to product development.

To help startups build communities, Boomstarter.Network provides project backers with a safe and easy tool for generating cryptocurrencies using their personal computers. They will be able to keep part of the digital currencies they have created and also use them to support their favourite startups on the platform.

Startups can apply at https://boomstarter.network/contest. The winner will be identified based on the number of social shares that the startup’s profile gets on the contest website.

The contest will run until October 19, 2018 when the winning startup will be announced.

About Boomstarter.Network

Boomstarter.Network’s prototype was launched in 2012 as a classical crowdfunding platform enabling startups to sell pre-orders for innovative products at early stages of development. This allows buyers to get big discounts and become early adopters of cutting-edge goods and services. The platform has become the largest crowdfunding service in Eastern Europe in terms of the number of participating technology startups. It has helped thousands of companies to successfully sell pre-orders to implement new services, products and services.

Media contact: Kirill Maskaev, pr@boomstarter.network

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Committed to privacy, Snips founder wants to take on Alexa and Google, with blockchain

Earlier this year we saw the headlines of how the users of popular voice assistants like Alexa and Siri and continue to face issues when their private data is compromised, or even sent to random people. In May it was reported that Amazon’s Alexa recorded a private conversation and sent it to a random contact. Amazon insists its Echo devices aren’t always recording, but it did confirm the audio was sent.

The story could be a harbinger of things to come when voice becomes more and more ubiquitous. After all, Amazon announced the launch of Alexa for Hospitality, its Alexa system for hotels, in June. News stories like this simply reinforce the idea that voice control is seeping into our daily lives.

The French startup Snips thinks it might have an answer to the issue of security and data privacy. Its built its software to run 100% on-device, independently from the cloud. As a result, user data is processed on the device itself, acting as a potentially stronger guarantor of privacy. Unlike centralized assistants like Alexa and Google, Snips knows nothing about its users.

Its approach is convincing investors. To date, Snips has raised €22 million in funding from investors like Korelya Capital, MAIF Avenir, BPI France and Eniac Ventures. Created in 2013 by 3 PhDs, and now employing more than 60 people in Paris and New York, Snips offers its voice assistant technology as a white-labelled solution for enterprise device manufacturers.

It’s tested its theories about voice by releasing the result of a consumer poll. The survey of 410 people found that 66% of respondents said they would be apprehensive of using a voice assistant in a hotel room, because of concerns over privacy, 90% said they would like to control the ways corporations use their data, even if it meant sacrificing convenience.

“Сonsumers are increasingly aware of the privacy concerns with voice assistants that rely on cloud storage — and that these concerns will actually impact their usage,” says Dr Rand Hindi, co-founder and CEO at Snips. “However, emerging technologies like blockchain are helping us to create safer and fairer alternatives for voice assistants.”

Indeed, blockchain is very much part of Snip’s future. As Hindi told TechCrunch in May, the company will release a new set of consumer devices independent of its enterprise business. The idea is to create a consumer business that will prompt further enterprise development. At the same time, they will issue a cryptographic token via an ICO to incentivize developers to improve the Snips platform, as an alternative to using data from consumers. The theory goes that this will put it at odds with the approach used by Google and Amazon, who are constantly criticised for invading our private lives merely to improve their platforms.

As a result Hindi believes that as voice-controlled devices become an increasingly common sight in public spaces, there could be a significant shift in public opinion about how their privacy is being protected.

In an interview conducted last month with TechCrunch, Hindi told me the company’s plans for its new consumer product are well advanced, and will be designed from the beginning to be improved over time using a combination of decentralized machine learning and cryptography.

By using blockchain technology to share data, they will be able to train the network “without ever anybody sending unencrypted data anywhere,” he told me.

And ‘training the network” is where it gets interesting. By issuing a cryptographic token for developers to use, Hindi says they will incentivize devs to work on their platform and process data in a decentralized fashion. They are starting from a good place. He claims they already have 14,000 developers on the platform who will be further incentivized by a token economy.

“Otherwise people have no incentive to process that data in a decentralized fashion, right?” he says.

“We got into blockchain because we’re trying to find a way to get people to participate in decentralized machine learning. We’ve been wanting to get into consumer [devices] for a couple of years but didn’t really figure out the end goal because we had always had this missing element which was: how do you keep making it better over time.”

“This is the main argument for Google and Amazon to pretend that you need to send your data to them, to make the service better. If we can fix this [by using blockchain] then we can offer a real alternative to Alexa that guarantees Privacy by Design,” he says.

“We now have over 14000 developers building for us and that’s really completely organic growth, zero marketing, purely word of mouth, which is really nice because it shows that there’s a very big demand for decentralized voice assistance, effectively.”

It could be a high-risk strategy. Launching a voice-controlled device is one thing. Layering it with applications produced by developed supposedly incentivized by tokens, especially when crypto prices have crashed, is quite another.

It does definitely feel like a moonshot idea, however, and we’ll really only know if Snips can live up to such lofty ideals after the launch.

Cryptocurrency Exchanges Fall Short in Safeguarding Funds: Report

Crypto Exchanges Fall Short in Safeguarding Funds: Report

In April 2018, former New York Attorney General Eric Schneiderman sent off inquiries to more than a dozen cryptocurrencyexchanges to learn more about their internal operations. Now, after months of investigation, the New York Attorney General’s office has made its findings public.

A report titled “Virtual Markets Integrity Initiative,” released on Tuesday, September 18, 2018, confirms what many already know to be true: Many cryptocurrency exchanges do not have proper consumer protections in place and are often targets for market manipulation.

The questionnaire originally went out to 13 crypto exchanges. Ten voluntarily complied with the study, but four did not respond, arguing they did not serve customers in New York. But, after investigating three of those non-responders — Kraken, Binance, and Gate.io — the New York Attorney General’s office “referred Binance, Gate.io, and Kraken to the Department of Financial Services for potential violation of New York’s virtual currency regulations.”

Kraken, the only one of the four based in the U.S., was the most vociferous in its refusal to respond to the inquiry, calling the initial request “ill-prepared” and “an overly broad fishing expedition that asks questions irrelevant to the stated objective and misses obvious questions that actually would be helpful.”

Report Highlights

The report highlights three broad areas of concern.

First, exchanges dabble in several lines of business that would normally be carefully monitored in a traditional trading environment. Platforms often simultaneously offer a venue of exchange, perform a role similar to broker-dealers, and act as money transmitters. At the same time, many also have their own large crypto holdings and even issue their own cryptocurrencies.

“Each role has a markedly different set of incentives, introducing substantial potential for conflicts between the interests of the platform, platform insiders and platform customers,” the report states. As an example, the report points out that exchange employees often trade on their own platforms, even though they may have access to information about future trades or upcoming coin listing.

Second, the report claims that many exchanges make little or no effort to halt abusive trading activities. “Platforms lack robust real-time and historical market surveillance capabilities, like those found in traditional trading venues, to identify and stop suspicious trading patterns,” the report says.

What is more, there is often no way to monitor suspicious trading across multiple platforms, and “few platforms seriously restrict or even monitor the operation of ‘bots,’” the report states. “Those factors, coupled with the concentration of virtual currency in the hands of a relatively small number of major traders, leave the platforms highly susceptible to abuse.”  

Finally, the report argues that safeguards for customers funds are “often limited or illusory.” Exchanges lack a consistent approach to third-party audits that serve to show that exchanges own the coins or fiat money they claim to hold. “That makes it difficult or impossible to confirm whether platforms are responsibly holding their customers’ virtual assets as claimed.”  

Concerns over market manipulation in cryptocurrency exchanges have been popping up again and again. In thinly traded markets, it becomes very easy for so-called “whales” or large holders to move the price of bitcoin, or any cryptocurrency, in whatever directly they want.

The report comes at a time when the U.S. Justice Department is investigating crypto market manipulation, and the Securities and Exchange Commission (SEC) has rejected numerous bids for bitcoin exchange-traded funds (ETFs) on the basis that cryptocurrency markets are simply too vulnerable to fraud and manipulation.  

This article originally appeared on Bitcoin Magazine.

3 Things to Do Now That Tezos’ Mainnet Is Live

tezos blockchain live

Now that Tezos has officially launched its main net, users are looking for ways to capitalize on this momentum. A few interesting developments have taken place as the main net launch happened, and the following three developments are well worth keeping an eye on. All of these changes can have a positive impact on the Tezos ecosystem moving forward.

#3 Exploring The Cortez Wallet for Android

Some Tezos enthusiasts may be aware of the Cortez wallet for the Android ecosystem. It is a very interesting contraption, as it brings all of the native Tezos functionality to mobile users all over the world. The Cortez wallet comes in two different versions, one of which acts as a main net solution and the other one is designed for the testnet.

This is also the first major release of the Cortez mobile wallet, which is rather interesting to keep an eye on. It will be interesting to see how the community responds to this wallet, primarily because it has only been downloaded around a dozen times so far. That number will undoubtedly increase over the coming weeks as more people take note of this project.

#2 XTZ Trading on Bitfinex

A rather surprising development in the exchange world comes courtesy of Bitfinex. This prominent exchange has made it clear they want to keep adding new coins, tokens, and assets over time. Introducing support for Tezos makes a lot of sense now that the main net has gone live, although that doesn’t make it a liquid market by definition.

For the time being, Bitfinex will support Tezos trading through BTC and USD pairs. Margin trading and peer-to-peer functionality will be added over time, depending on how the liquidity for this market evolves and improves. Direct fiat currency support can introduce a lot of new investors to Tezos, as fiat currency gateways are vital for any asset or currency looking to succeed.

#1 Increasing the Number of Nodes

As is always the case when a blockchain goes live, there is a growing demand for network nodes. In the case of Tezos, setting up a node can be done in many different ways. Various guides are showing up on Reddit, yet it appears the developers were prepared for an increase in interest. As such, Docker images were created prior to the main net launch.

The main reason Docker images exist is that they make it a lot easier to become part of the network. In the case of Tezos, the images can be set up within two minutes or even less. This is an ideal solution for those who just want to spin up a node without any extra bells and whistles. Those interested in becoming a more “advanced” part of the network may want to look at more detailed guides.

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Hong Kong–Based Blockchain Fund Makes Its Case for Yen-Backed Stablecoin

Hong Kong–Based Blockchain Fund Makes Its Case for Yen-Backed Stablecoin

Grandshores Technology Group, a Hong Kong–listed investment holding company, is seeking to raise around $12.7 million through a digital token fund, according to reports from the South China Morning Post (SCMP). Grandshores Technology plans to use the funding to launch a yen-backed stablecoin.

Chinese investor Yongjie Yao, who currently chairs Grandshores Technology, is also a founding partner at Hangzhou Grandshores Fund, which is backed by the local government of the city of Hangzhou and Chinese crypto billionaire Xiaolai Li.

Yao stated that the company plans to attract investment from qualified investors from outside China to raise funds via Tether, according to the SCMP report. The company will also invest in disruptive startups and other cryptocurrency projects across the globe that are challenging the status quo.

“We are entering the next stage of blockchain evolution, a stage which is akin to when computer operating systems were transiting from MS-DOS [disk operating system] to MS-Windows.”

The founding partners of Hangzhou Grandshores Fund are currently working with an unnamed, mid-tier Japanese bank to develop the yen-based stablecoin. Grandshores has plans to launch stablecoins pegged to the Hong Kong dollar and the Australian dollar in the future.

Yao remains confident regarding the demand for the coin when it launches. He believes the token could be ready by the end of 2018 or the first quarter of 2019.

“We believe cryptocurrency traders and exchanges will be potential takers of this stablecoin,” he added.

Stablecoins help tackle one of crypto’s chief dilemmas — volatility — without compromising its core values. On a smaller scale, they also help investors trade seamlessly while transferring money between crypto exchanges.

Earlier this year, Binance Labs, OKEx and other notable investors funded a stablecoin project out of South Korea called Terra. Liechtenstein’s Union Bank AG also issued its stablecoin, as it aims to become the world’s first blockchain investment bank.  

Paxos and Gemini joined the party last week, launching their stablecoins on the Ethereum blockchain.

This article originally appeared on Bitcoin Magazine.

Fourth-Largest Exchange Bitfinex Launches A Decentralized Ethereum Exchange

ethfinex large

Decentralized exchanges have been touted as the future of the market, especially since they give back the control to the users as Satoshi first set out to do when he developed Bitcoin. However, despite the great promise, they have failed to gain traction, with even the most popular struggling to crack into the top 100 for volume traded. This might all change, with the fourth-largest crypto exchange Bitfinex joining the decentralized exchanges movement with its newest offering, Ethfinex Trustless. The exchange will leverage on the order books of Bitfinex and its spinoff, Ethfinex to offer high-liquidity, low spread trading experience, all while the user gets to be in full control of the digital assets.

The Best Of Both Worlds

With Ethfinex Trustless, Bitfinex intends to offer its users the seamless trading experience associated with centralized exchanges without sacrificing the founding principle of cryptocurrencies; decentralization. The new platform will not have any signups or know-your-customer requirements. The clients will not be obliged to share their emails, names or addresses, an issue that has been quite contentious in the industry, especially after it emerged that some government agencies had been using these details to spy on crypto users.

The users will also be in full control of their funds throughout the entire transaction process, Bitfinex further revealed in a blog post. This will be made possible by connecting to the exchange directly via the supported ERC-20 wallets including Ledger, Metamask and Trezor. This will greatly reduce the counterparty risk users expose themselves to by sending the cryptos to the exchange, especially with the repeated cases of crypto hacks in which hundreds of millions of dollars’ worth of tokens are lost.

In what is perhaps its best quality, Ethfinex Trustless will allow its users to trade directly against the order books of its parent company Bitfinex as well as Ethfinex. This does away with the liquidity limitation that affects decentralized exchanges, giving the users the best of both worlds.

The platform will be powered by the Nectar token (NEC), the native token of the Ethfinex exchange. The tokens, a majority of whom are still held by the exchange, will be distributed to the users on a monthly basis. Users will govern the exchange using the tokens, making the decisions on which coins to list, user incentivization models, profit distribution, the fee structure and more. The users will be required to hold at least one NEC token during the first two weeks in order to trade. At press time, one NEC token was trading at $0.44, with over 82 million in circulation.

Initially, the platform will support five trading pairs: ETH/USDT, OMG/ETH, OMG/USDT, ZRX/ETH and ZRX/USDT. After the rollout week, the platform will then add over 40 tokens, with the blog post indicating that the platform targets listing over 57 Ethereum-based tokens.

Bitfinex follows in the footsteps of fellow crypto exchange Binance which in March announced that it was working on a decentralized platform that according to its CEO Changpeng Zhao, would list “almost any coin.” A month ago, Binance shared a sneak preview of the new platform which will be known as the Binance Chain. The platform will complement the centralized Binance once it’s launched which according to Zhao could happen in two months’ time.

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Last Chance to Join Idealcoin’s Marketing Revolution at Special Pre-Sale Prices

Less than two weeks are left for investors to take the advantage of the 56.6% bonus in purchasing Idealcoin tokens at the special Pre-sale price of $0.499 USD.

Following a successful private sale, Idealcoin gets a step closer to achieve successfully its mission of digital transformation of the marketing industry, becoming the number one tool for marketers around the world.

The special price for the released 11 000 000 IDL tokens will be available by the 25th September, when the Public Sale and a weekly increase of the token price start, lasting until the end of November. From the 1st December, the ERC-20 token will be available at $1.15 USD. Investors can obtain tokens by making payments in fiat, ETH, BTC, LTC, BCH, DASH and BTG.

Miguel Angel Parada, CEO and Founder of Idealcoin, stated: “Currently, there are over 2 billion people using centralized social networks, which we’ve witnessed compromising their personal data in the bid to generate advertising profits.

We designed Idealcoin as the token that will reshape the industry by providing marketers and advertisers with precise and updated data, while ensuring users keep 100% of their data rights and receive rewards for their contribution, data, opinion and expertise.”

Idealcoin can be organically generated on its Pay My Honest Opinion (PayMHO) platform, which is a 3.0 Social Media ecosystem. The platform offers users a fun and engaging way to generate content by developing and answering questions, interacting and recommending each other and building their profiles in an organic and spontaneous way. Hence, regular users transform into professional influencers, whose opinion is highly valued.

User data is protected by the Proof of Craft (PoC) which grants users with royalties for the created content. On the PayMHO platform, influencers receive Talents for the generation of valuable marketing data, which are linked to the price of gold. Talents can be exchanged to Idealcoin or fiat on the platform, as influencers get 10% discount on their TLN-IDL trades. The Dean Chain 444 protocol makes the PoC Talents immutable, traceable and secured.

The user-friendly and intuitive platform can be joined by anyone who registers from any point in the world. Once users go through the KYC analysis, identification documentation delivery and they open a wallet-type account, they can start their influencer journey to earn rewards.

Influencers can benefit from special offers, products and service testing, express their opinion, comment and contribute to the improvement of a specific product, or service, while earning digital assets. This data can be purchased by companies only with Idealcoins.

idealcoin pr

By managing the use and exploitation of user-generated collective knowledge, the platform behind Idealcoin offers a fast, highly efficient and reliable market research tool, which optimizes the resources and efforts of companies, institutions, governments and individuals.

Alongside with the pre-sale, IDL’s team will release the Alpha Version of PayMHO for Android on the 14th September and the iOS one on the 21st September.

To join the marketing revolution and the pre-sale, visit Idealcoin`s official website.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post Last Chance to Join Idealcoin’s Marketing Revolution at Special Pre-Sale Prices appeared first on NullTX.

Institutional-Grade Crypto Trading Platform Caspian Raises US$16M in Pre-Sale

Caspian, a startup developing an institutional-grade cryptocurrency trading platform, has raised US$16 million in a pre-sale of its CSP token. The company’s platform has just exited beta testing and is now live, the startup said on Monday. Caspian, a joint venture between Tora, a global cloud-based front-to-back technology provider to buy side institutions, and Kenetic, […]

The post Institutional-Grade Crypto Trading Platform Caspian Raises US$16M in Pre-Sale appeared first on Coinjournal.

Cardano Price: Traders Expect Correction Rather Than Hitting $0.07

NullTX Cardano price Temporary Uptrend

The cryptocurrency markets are seemingly going through a small uptrend as of right now. Although it remains to be seen how long the momentum can last, the Cardano price notes some decent-sized gains. Thanks to these developments, it appears to be a matter of time until Cardano’s value surpasses $0.07 once again.

Cardano Price Shows Signs of a Rebound

It is always interesting to see how different cryptocurrency markets tend to behave. More often than not, everything relies on the Bitcoin momentum first and foremost. This is rather obvious when looking at the Bitcoin Dominance Index, which remains very close to the 55% level, for the time being. This usually doesn’t bode well for altcoins, but it can also help move things along.

In the case of the Cardano price, its most recent uptrend started materializing when Bitcoin finally rebounded a bit. That is an interesting sign. although it also raises the question as to how things will evolve in the coming days. Cryptocurrencies have been extremely volatile for quite some time now, and it seems there will be no improvements in sight.

The Cardano community is quite keen on keeping tabs on the price momentum. Technical analysis will be one’s friend in this regard, although the opinions tend to differ quite a bit. TradersDungeon is convinced the Cardano uptrend will not last long an result in another correction fairly soon. How low the price will go, remains to be seen.

On the flipside, Crypto Lion is convinced Cardano will follow both XRP and Ethereum in terms of noting strong gains over the coming months. It is a rather speculative comment, although the XRP price sees some very nice momentum as of right now. If Ethereum could finally remain above $200 for more than a few weeks, it too may rebound accordingly.

There is one other development which should to fruition fairly soon. The Yoroi web light wallet for Cardano is expected to be released in the coming months. Although no official launch date has been made apparent, it will undoubtedly give the Cardano price a healthy boost in the process. Mobile wallets play an increasing role of importance in the cryptocurrency world.

For the time being, the first order of business remains to push the Cardano price above $0.07 again. So far, things are coming together nicely. Its low trading volume of $70m may not necessarily be a good sign, although it is still too early to draw any real conclusions. The coming hours will be crucial for the Cardano price, as the momentum can still swing either way.

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Ripple Price Watch: Currency Jumps Ten Cents Following News from Saudi Arabia

ripple price up

Ripple is trading for about 31 cents at press time. This is roughly ten cents higher than where it was just a few days ago. The currency is doing unusually well and invites comparisons with Dogecoin in how high it’s risen over the past week.

One big piece of news stemming from the Ripple space is the currency’s new partnership with Saudi Arabia’s first establish bank, the National Commercial Bank. The institution has now become the latest establishment to join Ripple Net, the currency’s enterprise blockchain network.

Saudi Arabia currently boasts a widespread remittance arena thanks to its large migrant worker population. Approximately $37 billion remittances were sent from the nation in 2016, for example, due to an immigrant worker population exceeding ten million people. In addition, the Kingdom of Saudi Arabia (KSA) has already tested Ripple for its instant international payment system. Joining the Ripple network will allow the bank to connect with other institutions in both North America and Asia.

XRPUSD: EPIC 85% Fall Since I Said XRP Could Go To ZERO! NO LIE!

Ripple executives stated:

“For SMEs and corporations that depend on NCB, more efficient and transparent remittances will provide stability and help them grow their business faster.”

The company has also announced that the commercial application of its crypto-based product will be released sometime next month. Head of regulatory relations for Asia-Pacific and the Middle East Sagar Sarbhai says that the product, which seeks to help banks speed up transactions by using Ripple’s cryptocurrency XRP, says that the venture is making serious headway with what it’s calling “xRapid.”

Sarbhai explains:

“I am very confident that in the next month or so, you will see some good news coming in where we launch the product live in production.”

He continued to say that policies regarding blockchain technology and cryptocurrencies are changing significantly, and that while blockchain has always been recognized as a powerful tool in the past, crypto was usually labeled as less so. Now, the attitude towards crypto appears to be changing, with several businesses witnessing the benefits firsthand:

“A couple of years ago, the narrative was: blockchain good, crypto bad. What we’re now seeing is more and more regulators and policymakers taking the whole space in one conjunction. So, I think that narrative thankfully is now changing because policymakers and regulators are seeing that there is a strong benefit that digital assets and cryptocurrencies bring in.”

Thus far, Ripple has managed to secure approximately 120 partnerships with banks and financial institutions around the world, including Western Union, Moneygram and Santander. CEO Brad Garlinghouse says he expects “dozens” of startups to utilize xRapid by the start of 2019.

Ripple Charts by TradingView

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NEO vs GAS Explained

neo vs gas

Dealing with the vast influx of new cryptocurrencies can be a big challenge for novice users. Things only get more confusing when that specific currency has more than one native token. In the case of NEO, there is the main NEO currency, as well as GAS. Both form an integral part of the ecosystem as a whole, yet there are subtle differences between the two. This article will give a quick overview on NEO vs GAS and provide more info on each token’s purpose.

The NEO Currency Explained

Every cryptocurrency project needs its own token to exchange value. In the case of NEO, that currency simply goes by the name of NEO, to avoid any unnecessary confusion. It is used to transfer value across the network, and is also the currency with the highest market cap of this particular ecosystem. Traders and speculators have taken a liking to NEO over the months, even though it remains to be seen how successful this project will be in the long run.

There is one particular aspect about NEO which users need to keep in mind. Its total supply will not increase as the network becomes more popular. Instead, the developers introduced a second token to “fund” most transactions, which goes by the name of GAS. Holders of NEO will automatically generate this secondary token, which creates an incentive to hold on to one’s NEO balance for an extended period of time.

The GAS Token Explained

It is rather interesting to take note of this dual-token ecosystem which makes up the NEO cryptocurrency. More specifically, its secondary token is called GAS, and serves a similar function to Ethereum’s gas for transactions. The big difference is how NEO has turned it into a different token, rather than continue to increase the supply of NEO itself.

The GAS supply is also a very interesting aspect to keep tabs on. When GAS is spent on NEO transactions and operations, it is not “burnt” in the traditional way. Instead, it is redistributed to keep the network going. As such, there is no reason to alter the GAS supply at any stage either, as the system is designed to be self-sufficient at all times.

What Comes Next?

So far, it appears the approach of NEO and GAS seems to work quite well. Now that token issuers are looking at NEO to issue ICO tokens, an interesting step forward has been taken. As more GAS is spent by NEO users, the existing holders will earn more GAS by simply holding their tokens. It is a rather interesting way of incentivizing users to not sell their cryptocurrency.

Ensuring users can interact with the NEO blockchain without spending the NEO tokens themselves is a very intriguing concept. It is very different from Ethereum, and the business model maintained by NEO has been copied by at least one other project so far. It is not unlikely even more cryptocurrencies will introduce a dual-token approach, and it remains to be seen if this has any long-term potential.


Would you rather invest in NEO or GAS? Let us know in the comments section below!

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Coinbase poaches LinkedIn’s head of data Michael Li

Coinbase continues to beef up its management team with another new hire in Michael Li, who’s joining the cryptocurrency trading platform as its VP of data. Li spent the last seven years at LinkedIn, most recently as its head of analytics and data science.

“Data will be essential to empowering Coinbase’s mission, and core to company’s strategy to deliver the most trusted and easiest-to-use cryptocurrency products and services,” Li wrote in a Medium post this morning. “I feel privileged to take on this challenging and rewarding new role to start the next chapter of my career.”

“We will be both leveraging existing technologies like machine learning and AI, as well as creating data innovations for emerging blockchain use cases to keep up with the ever-changing industry landscape. I look forward to advancing the company’s leadership position in the crypto industry through the power of data and will share key learnings along the way.”

On stage at TechCrunch Disrupt 2018, Coinbase CEO Brian Armstrong opened up about his desire to one day run a public company. For now, Coinbase is backed by private investors including IVP, Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates. It had raised more than $200 million at a $1.6 billion valuation as of August 2017.

Here’s a look at some of Coinbase’s other 2018 hires:

  • Tim Wagner, VP of engineering (July). Wagner was previously a general manager at Amazon Web Services.
  • Jeff Horowitz, Chief Compliance Officer (July). Horowitz was the former global head of compliance at Pershing.
  • Alesia Haas, Chief Financial Officer (April). Haas joined from New York-based alternative asset management firm Oz Management
  • Balaji Srinivasan, Chief Technology Officer (April). Srinivasan joined through the company’s acquisition of Earn.com, where he was CEO.
  • Rachael Horwitz, VP of communications (April). Horwitz was formerly a partner at Spark Capital.
  • Tariq Meyers, Global Head of Belonging & Inclusion (April). Meyers was formerly the head of diversity and inclusion at Lyft.
  • Emilie Choi, VP of corporate and business development (March). Choi also joined from LinkedIn, where she was head of corporate development.

Payment Apps Quickly Replacing Cash, Cryptocurrency Offers Best of Both

Payment apps are on the rise as cash fades from use, opening a place in the payments space for cryptocurrency.

The usage of payment apps such as Venmo, PayPal, Zelle, and others is on the rise, particularly among members of younger generations, who frequently use them for peer-to-peer payments instead of cash. These apps provide the experience of using a banking service for purchases while allowing for easy payments between individuals. Zelle alone, launched mid-2017, has already processed over 320 million transactions in a little over a year, underscoring the growing popularity of these services as cash becomes more and more rarely used. This does, however, come at the cost of user control over funds at all times, as well as privacy, when paying via third-party service with identification requirements.

Cryptocurrency as the last option for cash’s privacy and user control

The increasing push towards a cashless society has left a void for fans of cash’s full user control, privacy, and instant frictionless nature. Cryptocurrency has the potential to fill this void. A hallmark of cryptocurrency’s decentralized nature is a user’s absolute control over their funds so long as they hold their own private keys, meaning that, like cash, transactions can be made without use of a third party, and without the ability to be blocked. Also like cash, cryptocurrency is private in that it is not necessarily tied to any physical identity, but rather to cryptographic keys that could be under the control of anyone. While most cryptocurrencies have easily traceable transactions, tying them to identities may be more difficult, and several projects focus on offering advanced privacy features.

Financial privacy for consumer payment solutions has increasingly become important. A purchase tracking data deal between Google and Mastercard, as well as Venmo’s default setting of exposing transaction history publicly, underscore the need for private transaction solutions. Several cryptocurrencies obfuscate transactions so as to make them more difficult to trace, however most fail to deliver a smooth user experience suitable for everyday transactions.

Dash’s focus on besting payment apps

Dash remains focused on providing the best payment experience possible in a completely decentralized manner. In addition to the usual hallmarks of cryptocurrency (pseudonymity and complete user control over funds), Dash offers several additional benefits, including instant settlement with InstantSend functionality and untraceable transactions with PrivateSend, more closely approximating a digital cash experience than its contemporaries. Additionally, the upcoming Evolution platform scheduled for release late this year will include features further approximating a payment app-like experience such as blockchain usernames, providing a superior user experience without sacrificing privacy or control over funds.

Battle of the Privacycoins: Verge Offers Little Privacy and Nothing Unique

Battle of the Privacycoins: Verge Offers Little Privacy and Nothing Unique

Based on blockchain technology, most cryptocurrencies have an open and public ledger. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited. Government agencies, analytics companies and other interested parties — let’s call them “spies” — have ways to analyze the public blockchains and peer-to-peer networks of cryptocurrencies like Bitcoin, to cluster addresses and tie them to IP addresses or other identifying information.

Unsatisfied with Bitcoin’s privacy features, several cryptocurrency projects have, over the years, launched with the specific goal to improve on them. And not without success. Several of these privacycoins are among the most popular cryptocurrencies on the market today.

However, as detailed in this month’s cover story, Bitcoin’s privacy features have recently seen significant improvements as well and are set to further improve over the next months and years. This miniseries will compare different privacycoins to the privacy offered by Bitcoin.

In part 3: Verge

Background

Verge (XVG) was originally launched in 2014 as “Dogecoin Dark” by Justin Sunerok, who is still lead developer of the project today. To cultivate a more serious image, the project rebranded to “Verge” in 2016. As a codebase fork of Dogecoin, its base protocol is similar to Bitcoin in many ways. (Dogecoin was a codebase fork of Litecoin, which was a codebase fork of Bitcoin.)

Verge has been in the news several times over the past year, most notoriously because the coin was successfully 51%-attacked on multiple occasions. But Verge is probably best known for its partnership with major porn site Pornhub, which made headlines all over the crypto media and beyond.

At the time of writing, Verge (XVG) claims the 39th spot on altcoin market cap lists, down from a top-25 spot earlier this year. This makes it the fourth (and last) privacy-focused altcoin in the market cap top 50, after Monero, Dash and Zcash.

Privacy

According to the subtitle of the the Verge “Black Paper,” which describes the project, Verge is “the most privacy focused cryptocurrency.” However, even the Verge project leaders themselves appear to be a bit more equivocal on this point. Describing (what seems to refer to) Monero as “too private,” the Verge Currency Beginner’s Guide written and published by Verge Currency Core members instead argues that privacy should be optional.

This optionality is represented by Verge’s “Wraith protocol.” The Wraith protocol would let users choose whether they want to conduct a regular transaction (like a normal Bitcoin transaction) or a RingCT transaction, similar to Monero. RingCT transactions include “decoy” coins in transactions to obfuscate which coin is really being spent and also hides the amounts involved in a transaction for everyone but the payer and payee.

However, RingCT transactions have actually not yet been implemented at this point in time. As such, Verge users can only make regular transactions.

What has been implemented are optional stealth addresses. Stealth addresses are perhaps best understood as cryptographic puzzles. They essentially allow the sender of XVG to generate a brand new Verge address to send the XVG to, which can then be claimed by the owner (and only by the owner) of the stealth address. The main benefits are that several Verge addresses can be generated from the same stealth address and that the stealth address cannot be linked to the actual addresses on the blockchain by anyone but the payer and the payee. This means that the stealth address can be posted online, perhaps as a donation address, without the user needing to worry about his privacy.

But Verge’s main privacy offering is probably a very different type of privacy: privacy on the peer-to-peer network layer.

The peer-to-peer network, of course, is where nodes transmit and relay all transactions and blocks to one another. Unfortunately, this network can be spied on, specifically by deploying nodes to track the data it receives from other nodes. If done right, this information can be used to figure out where certain transactions originated. If spies can link this originating node to an IP address, they’ve gone a long way toward de-anonymizing the creator of a transaction.

Verge counters peer-to-peer network analysis by having nodes and wallets communicate through Tor. By transmitting their transactions through the privacy-preserving, onion routing network, Verge users escape the prying eye of the spy. Tor is integrated into different Verge wallets by default, even including a mobile wallet for Android.

Bitcoin

Since RingCT isn’t delivered yet, the only privacy features offered by Verge today are stealth addresses and Tor.

Of these, only stealth addresses counter blockchain analysis — to some extent. This is a good feature, especially for some specific use cases (like donation addresses). But it is also a bit limited. Simply generating a new (regular) address for each payment (which is standard in many Bitcoin wallets and also possible on Verge) and not sharing this address with anyone but the payer (which shouldn’t be too difficult) offers similar privacy in most cases. Further, stealth addresses are also available for Bitcoin (via Samourai Wallet).

As such, Verge’s only real differentiator would have to be Tor integration. This is a well-established solutions to counter network analysis, and the fact that Verge offers it by default is good from a privacy standpoint — though Tor overhead can slow the network down quite a bit.

However, Verge isn’t really unique in this regard either. Bitcoin can also be used over Tor, as can other cryptocurrencies. Granted, this does sometimes require some technical expertise, which not everyone has. Verge offers a more user-friendly experience in this regard.

Bitcoin is also likely to adopt Dandelion, a recent proposal to counter network analysis. This solution doesn’t encrypt all network traffic like Tor does, but it uses a clever trick to obfuscate the source of transactions that goes a long way to achieve the same goal with much less overhead. That said, Dandelion is not implemented yet.

The much bigger problem for Verge is that network analysis is only one strategy to de-anonymize cryptocurrency users. And it’s almost certainly not the main one: blockchain analysis probably offers spies much more de-anonymizing data. As long as some addresses can be linked to real-world identities, address clustering tools can go a long way toward breaking all user privacy. In a world where a large chunk of all transactions are to and from KYC/AML compliant exchanges, protecting privacy on the peer-to-peer network alone probably doesn’t achieve much at all.

Thus, at least until RingCT is implemented, Verge can not reasonably be considered a privacycoin on par with Monero, Zcash or even Bitcoin — if it can be considered a privacycoin in the first place. It is definitely not “the most privacy focused cryptocurrency.”

This article originally appeared on Bitcoin Magazine.

Dogecoin Price – 3 Promising Predictions for Late 2018

There are some high expectations regarding the Dogecoin price as of right now. Although it is very difficult to predict how things will pan out for this popular altcoin, it is evident the market will take an interesting turn moving forward. The below three charts are ranked in terms of bearish to bullish outlooks.

Three Dogecoin Price Predictions:

#3 The Potential Reversal

dogecoin price chart
Chart: Tradingview

Over the past few weeks, DOGE’s price has shown numerous signs of upward momentum. There has been a very sharp uptrend since early September of 2018, even though it seems there may be some resistance forming as well. It is always difficult to say how long cryptocurrency price rallies will last. However, in the case of Dogecoin it seems a dip is not necessarily a downside for the crypto.

According to the chart published on tradingview by user Mycotoxin, it is very likely the price will break a key support level at $0.0063. Assuming that happens, there will be a correction which may be as steep as hitting $0.0021 in the weeks after. That is a very bearish outlook, although such a trend would simply return the price to the level prior to this massive momentum coming into play. As such, not an unlikely scenario under the current circumstances.

#2 Completing the Third Wave

dogecoin price third wave
Source: Tradingview

An interesting chart is presented by BuyPennyCrypto. According to this analysis, the Dogecoin market is currently subject to a three-wave pattern. If this chart holds true, a final “pump” will occur in the coming days, which can have some interesting consequences on the market. This last push can raise the DOGE/BTC level to ~200 Satoshis, which would be a very remarkable feat to achieve.

It is equally possible the price will not hit that target, as it will heavily depend on what all other cryptocurrencies are doing in the process. For Dogecoin, a wave to 192 Satoshi seems possible, although it can go as high as 220. After that, there will probably be a major correction to push the price down again, although no predictions are made as to how low it can go.

#1 The $0.21 Gamble

Source: Tradingview

There is no shortage of enthusiasm when it comes to the Dogecoin community. One intriguing prediction by CryptoManiac101 claims the DOGE price will go as high as $0.21 in 2019. While that is not necessarily impossible, this chart seems to hold up so far. It was originally submitted in late June, and the price has been following the predicted upward trend to a T.

One always had to wonder how such massive momentum is expected to materialize. If the meme coin’s price were to reach $0.21, it would need a 300-fold increase over the coming months. Given the vast supply of DOGE and its current market cap, that would put it at a $210bn market cap as well. Very unlikely, but it is still interesting to take note of different price predictions.

Dogecoin charts by Tradingview

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Crypto Startup Reels in Twitch Executive to Spearhead Adoption Strategies

Exec Leaves Amazon-Owned Twitch to Head Marketing at Kin Crypto

Kin Ecosystem Foundation, the nonprofit governance organization for the Kin cryptocurrency, has announced the appointment of Matthew DiPietro as its chief marketing officer (CMO) today, September 18, 2018. Prior to joining Kin as its CMO, DiPietro was senior vice president of marketing at Twitch, the world’s leading video platform and community for gamers, where he drove mainstream adoption of live streaming.

Messaging app Kik was founded in 2009, and it became known as the first chat app that went viral in 2010, growing from zero to a million users within 15 days. The company also became the first chat app to add its own digital currency when it launched the KIN token early last year.

Kik believes that through its token it can bring together the areas of communications, information and commerce in a new way that will fuel how today’s generation and future ones connect.

The KIN token launched on Ethereum’s blockchain, then switched to Stellar’s, and then in a bid to eliminate transaction fees for its users, it forked Stellar to create the Kin blockchain. The KIN token recently achieved 1.2 million transactions per day.

The Kin Ecosystem Foundation is the nonprofit organization managing the development of the KIN token.

In an interview with Bitcoin Magazine, DiPietro explained why he decided to leave Twitch for the Kin Ecosystem Foundation.

“It reminds me very much of the early days of Twitch. It’s an exciting concept with audacious goals, a talented team, and killer technology,” he commented.

“We have a once-in-a-lifetime opportunity to drive adoption of a transformative technology that can fundamentally change the relationship between consumers and developers. I’m looking forward to creating and executing a marketing strategy that helps make that happen.”

DiPietro joins Kin after spending eight years at Twitch, where he created the company’s brand and led marketing initiatives at all levels, including the creation of TwitchCon in 2015, the company’s annual convention for Twitch creators and their communities.

From being the only marketing employee at Twitch, DiPietro grew the team to over 40 people who worked on the platform’s branding, content, communications and much more. Before Twitch, DiPietro also managed marketing for Socialcam, a social, mobile video application, often called “Instagram for video,” which was later acquired for $60 million.

Kin’s appointment of a former Twitch executive follows the growing trend that sees blockchain startups poach experienced executives from traditional business sectors. Earlier this year, Ripple brought in Kahina Van Dyke, the former global director of financial services and payments partnerships at Facebook, as senior vice president of business and corporate development. Gemini, the Winklevoss twins’ cryptocurrency exchange, also hired Robert Cornish of the New York Stock Exchange (NYSE) to serve as its first chief technology officer.

DiPietro, however, believes the real talent resides in the people making the bets on the companies, not the other way around.

“I think what we’re seeing is the first round of experienced talent coming into [the] space because we can start to see the outlines of what success looks like. There’s now enough information to start making educated bets, whereas previously it was anybody’s guess. I’m betting on Kin.”

In his new role, DiPietro will be driving marketing strategy for the Kin brand, platform and its associated products and services.

“What I hope to be able to do is to bring a level of clarity to the value proposition,” DiPietro said.

“Too many crypto projects can’t identify their customer, the customer problem, and the value proposition, and are unable to tell this story in a clear, compelling way. I want to tell that story for Kin because it’s a good one.”

DiPietro’s appointment comes on the heels of Kin’s accelerated momentum in the crypto industry, including the announcement of the Kin Developer Program and the launch of the Kinit Beta app, the first publicly available app dedicated to Kin.

The Kin Developer Program has committed nearly $3 million for qualified developers who can create relevant use cases using the Kin cryptocurrency in their apps. The program promises to reward individual developers who provide “meaningful experiences in consumer apps” with up to $140,000 in cash and Kin currency.

For Kin’s new CMO, what Twitch did in its early days is similar to what Kin is trying to do for decentralizing messaging services.

According to DiPietro, Twitch stood out for its unwavering focus on the creators. First, it created a category for them and then figured out a way to compensate them for the value they created without burdening the consumer.

“In many ways, what we’re trying to do with Kin is to make that concept scalable across platforms and consumer apps. We are laser focused on the app developer and the consumers they serve. Kin provides a viable path to building a world in which all parts of the ecosystem are compensated appropriately for the value they create,” he concluded.

This article originally appeared on Bitcoin Magazine.

Lite.im Introduces Litecoin SMS Payments Globally

Lite.im is a very powerful service in the cryptocurrency industry, as it facilitates the use of Litecoin SMS payments on a global scale. Making cryptocurrencies easier to use will improve overall adoption in the long run. Mobile services will play an increasing role of importance in this regard.

The Lite.im Concept

lite.im

To this day, it is nearly impossible to transact in cryptocurrencies using simple text messages. Although a few services exist for Bitcoin and Bitcoin Cash, most other cryptocurrencies are left in the cold. That situation is finally coming to change courtesy fo Lite.im, a service which has not gone live just yet.

How Does it Work?

It is evident from the start Lite.im serves one specific purpose. It introduces Litecoin SMS payments on a large scale, which can have a lot of interesting consequences moving forward. On the surface, it allows for anyone in the world to send and receive Litecoin transactions by just using a mobile phone number. There is no need to rely on the Internet, which is always a good sign.

On the technical side of things, users can send messages through SMS or Telegram. Catering to both markets is a smart decision by the team, as it is evident not everyone has access to the internet, even in this day and age. The functionality users can enjoy include checking balances, receiving transactions, and so forth.

As is always the case with services like these, one has to wonder how private keys are handled. The information will not be stored by Lite.im, as the user is the only one with access to this vital piece of information. That is an integral part of the service, as it needs to be a trustless service first and foremost. Lite.im can be a very powerful service moving forward, although it remains to be seen if it can boost Litecoin’s overall appeal.

The Road Ahead

Users who show an interest in this service can check out the Telegram version, or pre-register for the SMS version. The project’s code is also available on GitHub, which shows the developers are intent on being as transparent as possible. How the project will be received by the general public, will become more apparent in the months ahead. Improving overall Litecoin awareness and adoption is always a challenge, but services like these can make a real difference.

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LG’s Blockchain Service To Facilitate Cross-Carrier International Payments

lg blockchain

LG’s telecom subsidiary, LG Uplus, has signed a memorandum of understanding that will see it offer its users blockchain-based international payments. The service will begin trial early next year and will enable users to make payments in Japan and Taiwan, the first such product by a Korean telecoms operator. The service will eliminate the high costs associated with overseas credit card transactions as well as reduce the losses that are brought about by fluctuations in foreign exchange rates. The firm, which is among the big three in the country, also revealed that this is just the first in a series of products that will integrate blockchain technology as it seeks to take advantage of the technology to stay ahead of its competition.

Turning To The Blockchain

Once launched, the service will allow LG Uplus’ customers to make payments in selected retail outlets in Japan and Taiwan. Japan is South Korea’s second-largest trading partner, only behind China. As reported by local media, the new platform is scheduled to begin trial early next year. It will be based on a blockchain-based cross-border platform known as the cross-carrier payment system. This system will enable a user of one mobile carrier to complete a transaction on payment networks operated by another carrier.

The cross-border payments will be made possible by the signing of a memorandum of understanding between LG Uplus, Japanese conglomerate Softbank and Taiwanese FarEas Tone Telecommunications. The blockchain platform will be developed by Sunnyvale, California-based blockchain startup, TBCASoft. Taiwanese users of FarEas Tone will also get to make payments at selected retail outlets in South Korea and Japan.

Using the service, users will be able to avoid incurring the high charges levied on overseas credit card transactions, a TBCASoft spokesperson stated. Speaking to The Korea Times, the spokesperson also noted that the cross-carrier payment system will greatly reduce the risk that accompanies foreign exchange transactions, with the rates being subject to fluctuations. The service will facilitate direct carrier billing which enables transactions to be billed through a carrier’s home currency.

The director of the mobile service unit at LG Uplus, Joo Young-joon, was full of optimism at the opportunities that blockchain technology will provide the users. He also revealed that this was just the beginning for the firm’s blockchain ventures.

Customers will have the benefit of an overseas payment system based on convenient, economical and secure blockchain technology. And in addition to the overseas payment solution, LG Uplus will continue to develop new business opportunities with CBSG blockchain and global telecom leaders.

The second largest telecom operator in Taiwan, FarEas Tone is no stranger to blockchain technology. Together with Softbank and TBCASoft, it’s a founding member of the Carrier Blockchain Study Group (CBSG), a global blockchain consortium of telecom carriers. The group collaborates on blockchain-based solutions that cater to the telecoms industry including digital payments, digital authentication and clearance and settlement. Other members include UAE’s Etisalat Communications, U.S-based Sprint and Malaysian operator Axiata Group Berhad.

LG follows in the steps of fellow South Korean giant Samsung which has made huge investments in blockchain technology. Through its information technology subsidiary Samsung SDS, the Seoul-based global conglomerate has developed blockchain solutions that target various sectors that include supply chain management, banking and logistics. Just days ago, the company announced that it had entered into an agreement with the Korea Customs Service to develop a blockchain-based customs clearance system. The system will be built on Samsung’s Nexledger platform and has already enrolled 48 organizations involved in the export business.

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6 Top VeChain Exchanges for 2018

A lot of cryptocurrencies are in very high demand as of right now. Finding the right cryptocurrency exchange for one’s needs can often be a challenge. The following are the top VeChain exchanges you want to use – ranked by current trading volume.

#6 KuCoin

kucoin logo

Once a very popular exchange due to its lack of KYC verification, KuCoin has lost a bit of market share over the past six months. It is still a good place to buy VeChain, as the platform has BTC, ETH, and USDT pairs. For users who are familiar with the platform and have either of the supported currencies to trade, it is a worthwhile option.

#5 LBank

lbank logo

This particular exchange is gaining traction among altcoins as of late. Even though few people seem to openly discuss it, Lbank has quietly built up a reputation in the cryptocurrency industry. VeChain is one of its least popular trading pairs, but that situation can change over time. Lbank provides VET trading for both BC and ETH at this time.

#4 Gate.IO

gate.io logo

A lot of things are happening as far as Gate.IO is concerned these days. The popular currency continues to gain traction in certain regions, with VeChain becoming one of its more popular pairs overall. Although it can be traded only against USDT and ETH, it is possible a BTC market will be added as more time progresses.

#3 Instant Bitex

instantbitex logo

A rather unknown exchange, although one that seems to benefit a bit from the growing success of VeChain and other altcoins as of late. Instant Bitex offers VET trading against Bitcoin, and seems to be picking up steam in this regard. Its only VET trading pair consists of Bitcoin, but that should not prove to be much of a hindrance, all things considered.

#2 Huobi

huobi logo

It is not surprising to learn a lot of major exchanges are paying attention to new altcoins such as VeChain in this day and age. Huobi has jumped on the VET train a while ago, and promptly opened three main markets to trade this popular currency. It offers USDT, BTC, and ETH pairs, ranked by current popularity. If this trend keeps up, its USDT pair should note a daily volume of over $1m fairly soon.

#1 Binance

binance logo

It comes as no surprise to learn Binance takes first place for our top vechain exchanges list. The world’s most popular cryptocurrency exchange offers USDT, BTC, ETH, and BNB trading for VET at this time. Its USDT market is vastly more popular, although Bitcoin is also putting up a very good show in this regard.

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SRAX Shareholders Receive Right to BIGToken Distribution on September 17, 2018

Social Reality, Inc. (SRAX) has declared that it will be issuing out securities dividends from its subsidiary BIGToken project to its Class A shareholders of its company, and sets the record date for September 17, 2018. This will further buttress their efforts to improve investors and shareholders value in the company.

Disclosure: This is a Sponsored Article

About the company

SRAX is a digital marketing and consumer data management and distribution technology platform that derives its market value from the estimated USD $130 billion data marketplace. Their objective is to create a platform where clients can access customized advertising tools to improve their marketing campaigns. So far, their technologies have enabled brands to access core consumers across marketing channels.

Several products have been developed by SRAX. This includes the recently sold SRAXmd (valued at $33.5 million USD, plus other benefits), SRAX social, SRAX reach, SRAX auto, SRAXfan, SRAXshopper, and blockchain identification graph (BIG) token. The company has demonstrated a unique appetite to develop and monetize different new data-related technologies that have the propensity to further expand the ad targeting industry.

The current focus to issue the securities of BIGToken is an important milestone for the company as expressed in SRAX’s CEO and Chairman, Christopher Miglino’s statement:

“We are excited for the Beta launch of BIGtoken, which is working to solve data accuracy for the data market that is estimated to be over $130 billion. As promised, we are issuing a dividend for BIGtoken Inc. We look forward to rewarding shareholders as SRAX and BIG grow.”

It is the expectation of the company that BIGToken meets all regulatory requirements. This would enable them to distribute these securities rights hassle-free once the rights and preferences have been determined by the board of directors of BIGToken.

The BIGToken Platform

The BIGToken is a wholly owned subsidiary of the publicly-traded company SRAX. The team behind the platform are tasked with the responsibility of connecting consumers who provide their personal data to the data commodity marketplace worth billions in revenue. The aim is to disrupt the consumer data marketplace and create a transparent and efficient exchange of economic value.

The BIGToken platform is the blockchain product currently being developed to provide a consumer-powered data marketplace. This ecosystem will empower individuals to own, verify and sell access to their personalized data. The full features of the platform will include full consumer choice, authenticated and verified data, transparency and a wholesome economic reward system.

The platform will have a robust blockchain network featuring high-end security and open source governance structure to create a system where everyone within the internet space will be able to access verified and transparent data structures relevant to the advertisement industry. The complete value chain is made up of data-providing consumers, marketers, and developers. Participating consumers will benefit as they are compensated for providing verified data. Developers also will be able to expand online experiences on the BIG network.

Consumers will be incentivized to use the BIGapp through the BIGtoken. The whole process has been geared towards placing the consumer at the center of the value chain. They get rewarded with BIGtokens when they sign up with the system, whenever they choose to include their data in the marketplace, and when corporations and third parties purchase access to their data.

To learn more, visit the website: https://bigtoken.com/

Connect on Medium: https://medium.com/bigtoken/

Chat on Telegram: https://t.me/big_token/

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Entrepreneurs are Making Traveling via Cryptocurrencies Easier

More Stamps Global, which just launched this past August, allows travelers to purchase hotels and flights (domestic and international) with 40 different cryptocurrencies, including Dash, for destinations all around the world.

The Hungarian based company aims to eventually accept up to 300 cryptocurrencies and is a self-described group of “crypto-enthusiasts’ that are “specialized in planning the perfect vacation customized to consumers’ interests”. Their founder and CEO, Patrick Amoah, said via their website that their “search for a better travel means led [them] to blockchain technology and cryptocurrencies, equipping them with a potent weapon to revolutionize the travel and tourism sector”. Their main page boast flights such as London to Ibiza, Sydney to Jakarta, New York to Paris, hotels in Rome, Dubai, and many more destinations and itineraries for relatively affordable rates.

They further elaborated that “More Stamps Global was born from the zeal and hunger to offer freedom of movement and hassle-free travel to the world at large”. The website also allows consumer to purchase sightseeing activities though the site so consumers have something fun to do once they reach their destination.

Cryptocurrencies eliminate old-world financial hassles of traveling

Historically, when individuals traveled internationally, they would have to get cash out of their bank account and exchange that cash for the foreign currency of the country they were visiting. Aside from exchange rate risk of converting back into their home country’s fiat upon returning, they would have to pay significant currency exchange fees. These fees could be minimized if consumers sign up with the right bank/card to make electronic payments and exchanges, but the research and knowing the fee structure quickly becomes a tedious task within itself. Then even after consumers find the right bank/card, they often have to notify their provider of what countries they will be visiting and when so the bank/card does not freeze their account on suspicion of fraudulent activity. This could even happen to consumers traveling domestically. Using cryptocurrency to book travel itineraries, instead, solves these issues.

Cryptocurrencies are borderless and are able to seamlessly be used across geographical and political borders. Plus, if a specific cryptocurrency is not accepted in a region, it is easy to use one of the many online exchanges to make a quick and inexpensive switch to the cryptocurrency of choice that is accepted in the destination region. Using cryptocurrency allows consumers to make their own decisions, on their own time, without having to reveal to anyone else their specific travel plans. In addition, this is all done for minuscule fees when compared to the traditional fiat currency exchange industry. Consumers now have many more options than the limited banking/card options previously available for travelers, however, some cryptocurrencies are still better than others.

Dash is designed for global and fast use

Dash makes traveling and transacting in a foreign area as streamlined as possible. Dash has focused on becoming an everyday currency for transactions no matter how small or larger, which is ideal for traveling where purchases can range from large itineraries and souvenirs to small gifts and food items. Dash also enables very fast regular transactions and confirmations in 1-2 seconds for $0.01-$0.02 USD with InstantSend, which is ideal for traveling since consumers do not want to slow down their trip for transaction confirmations. Dash has been able to accomplish these feats via its DAO governance that has allowed Dash to seamlessly initiate upgrades that have maintained Dash’s record low transaction fees, extremely fast speed, and great security. This has allowed Dash to see wider adoption throughout Venezuela, Colombia, Brazil, United States, Europe, Ukraine, Nigeria, Africa, Australia, and parts of Asia.

Due to this wide reaching adoption of Dash, consumers are free to traverse the world and stay within the Dash community for a hefty part of their trip. Travelers can simply visit DiscoverDash.com to see which of the 3,000+ merchants are located at their destination. Consumers can visit CheapAir.com to buy plane tickets, hotels, or car rentals with Dash or they can leverage TravelbyBit to easily explore Australia with Dash. This makes the consumer journey experience easier since travelers can now worry less about switching between different types of cryptocurrencies. Dash supplements merchant initiatives to enable consumers to travel via cryptocurrencies by making Dash a seamless currency usable around the world.

IOTA vs NANO – Fee-Free Cryptocurrencies

In the world of cryptocurrencies, transaction fees play an integral role. Miners processing transactions are awarded these fees in return for their support of the network. Over the past year and a half, two currencies have emerged which get rid of the fees models completely. Both IOTA and NANO pride themselves on removing transaction fees from the network altogether. This article will compare IOTA vs NANO and go over how they work.

#2 NANO

nano cryptocurrency

This particular currency has been quite interesting to keep an eye on. Since the rebranding from Raiblocks to NANO, the currency has gained a lot of traction in quick succession. It is a very popular currency in Venezuela these days, primarily because of how NANO makes it a bit easier to send and receive money. The removal of transaction fees especially plays an integral role in this regard.

Maintaining this zero-fee concept is not all that easy or straightforward. More specifically, Nano uses a very different algorithm compared to most major cryptocurrencies. The developers purposefully opted for a lightweight solution, which also makes the costs of running a node nearly zero. All transactions are fee-free and can be fitted within one UDP packet.

Most experts would wonder how this affects the NANO blockchain and its potential bloat. In the case of this currency, NANO processes every single transaction independently. This removes the need for block size scaling, as transactions are simply handled on an as-they-come basis, rather than in batches every X minutes. An interesting model which seems to work quite well for this currency.

#1 IOTA

iota logo

Most cryptocurrency enthusiasts will know what IOTA is all about as of right now. This project aims to make the Internet of Things a lot more robust, however it remains to be seen what kind of real-world impact one can expect from this particular venture. Another interesting aspect of IOTA is how it has impacted the cryptocurrency industry over the past few months.

Similar to NANO, IOTA uses a zero-fee transaction model. This seems to work quite well for this particular project. Moreover, it is an important aspect of dealing with IoT transactions moving forward. Machine-to-machine communication needs to be both cheap and efficient at all times. IOTA is working on ensuring that will happen in this regard.

By not utilizing a traditional blockchain solution, IOTA can effectively ensure these fee-free transactions can be processed easily. The Tangle, a technology powering the entire IOTA ecosystem, gives an order to transactions awaiting completion. Every transaction being broadcasted needs to verify two previous transfers. As such, users pay a small bit of electricity to send money on the network, but there is no official “transaction fee.”


Which cryptocurrency you prefer? Nano or IOTA? Tell us why in the comments section below!

The post IOTA vs NANO – Fee-Free Cryptocurrencies appeared first on NullTX.

Dogecoin Price: 1 Million Doge Nearly Equals the Value of 1 Bitcoin

dogecoin amazon petition

Interesting things continue to happen in the world of Dogecoin. Even though the price is still down, it is only normal this bearish pressure remains in place considering how all other markets suffer from a very similar fate. Some developments in the Dogecoin community are still sparking genuine interest in this particular altcoin.

The Dogecoin Price Remains in a Good Place

Although there is a genuine concern the Dogecoin price would return to much lower levels in the coming days, it seems that negative outlook isn’t necessarily warranted. Instead, the Dogecoin price tries to hold its own in this regard, which seems to be working quite well. A 4.83% decline over the past 24 hours is not great on paper, but it is still rather interesting to keep an eye on regardless.

This decline also pushes the Dogecoin market cap below $700m for the first time in a few days. That is a rather worrisome trend, although overcoming the dip should not prove to be much of a challenge. The upside is how Dogecoin remains stable at 96 Satoshi, indicating the DOGE/BC ratio is not suffering from a massive onslaught as of right now.

The Dogecoin community is always looking for new solutions when it comes to increasing the appeal of this altcoin.  One user reached out to the Exodus wallet team to have them support DOGE in the near future. Although this is a worthwhile effort, it seems the Exodus team has no plans to ingrate Dogecoin at this point in time. That is a bit unfortunate, albeit one has to keep in mind things always remain subject to change in this regard.

There is also a very interesting discussion taking place on Reddit right now. User MuchWandering floats the idea of how Dogecoin is the only real coin whereas everything else is a “joke coin”. An interesting alternative outlook of cryptocurrencies, although very few people will agree with the idea. Even so, it shows Dogecoin is a viable project which continues to gain popularity despite not having the market traction of Bitcoin or Ethereum.

It is also interesting to note how valuable Dogecoin really is. For those who own 1 million DOGE, the current market value of these coins lies close to $6,000. Depending on which exchange one decides to use, it is evident that value may be closer to $6,200. That makes 1 million DOGE nearly as valuable as 1 Bitcoin, especially with the DOGE/BTC ratio remaining near 96 Satoshi. An interesting correlation, especially given how easy it is to mine Dogecoin compared to Bitcoin.

As is always the case in the cryptocurrency world, negative market momentum can be turned into a positive fairly quickly. For now, the wait is far from over, as every market remains stuck in this slim for the time being. Solving this problem will not be easy, although it is evident the Dogecoin price will see another rebound sooner rather than later.

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Ethereum Price Under $200 – Things Are Not Looking Good

ethereum apocalypse

After hitting a one year low earlier last week, the Ethereum price has been struggling to stay above the $200 level. At the time of writing ETH is trading at $196, down over 10% in the past 24 hours. What is going on? What does the future hold for Ethereum? This article will attempt to answer these questions.

What is going on with the Ethereum price?

Other than the obvious factors such as the whole cryptocurrency market falling along with Bitcoin, thus dragging the Ethereum price down. There are rumors floating around that ICOs are liquidating their ETH holdings to recover some value. In the month of September alone, ICOs only raised roughly $21 million, which is nothing compared to the hundreds of millions that was being raised last year.

Because the cryptocurrency market isn’t doing great overall, ICOs can not longer sell their own tokens to fund their projects. As a result, they have to resort to selling their ETH holdings. This causes enormous selling pressure on Ethereum which is part of the reason it is having a hard time.

What does the future hold for Ethereum?

Looking at some technical indicators, PureStructureNoBS from tradingview highlights a few head and shoulders patterns which are signalling that more bearish action is ahead:

ethereum price head and shoulders PureStructureNoBS
Chart: Tradingview

He said:

“I see two (2) Head and Shoulder formations in ETH. The darker red is the bigger H&S with a target around 190s. BTC is also breaking down at this time. If BTC breaks the big bear flag straight from here then we will have a huge sell off with ETH having the best profit potential of the 2. Though we are likely to see some kind of bounce before breaking the bear flag in BTC

Keep in mind that technical indicators are all about perspective. Another use by the name of musdy from tradingview shared a chart where you can see a reverse H&S pattern, signalling that a bullish push might be looming ahead:

musdy eth
Chart: Tradingview

In short, his chart shows that if the inverse H&S completes and causes a breakout, we can see prices as high as $290. On the other hand if “we can’t break the channel in the down, [I] think we can see the last dip of eth which is around $111.78” –musdy


While it is important to look at technical indicators, you also have to look at the overall trend of the market – where is it heading? Unfortunately, both the Ethereum and cryptocurrency markets are bearish. As such, the most likely scenario is that ETH will face more dips in the coming future.

What I’m personally hoping for, is for the Ethereum price to at least maintain the $200 level. That is a round and an emotional number which traders are going to use in the short term to judge whether ETH has a chance at rebuttal. Also, I would keep a close eye on Bitcoin and the cryptocurrency’s market cap overall for signs of life. That includes either prolonged sideways trading or bullish waves that are actually sustained.

What do you think is Ethereum’s prognosis? Will the currency experience new lows or will it recover? Let us know in the comments section below!

Ethereum Charts by Tradingview

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First IOTA, now EOS – ARXUM becomes blockchain agnostic

After having integrated the IOTA Tangle in the ARXUM Production Protocol, the second  Proof-of-Concept (PoC) has been achieved already. EOS is now successfully implemented in the ARXUM Production Protocol and solidifies ARXUM’s path to become a truly blockchain agnostic solution.

EOS is a new blockchain technology with smart contracts programmable in C++. It is a delegated proof-of-stake consensus mechanism, has a higher speed than Ethereum in terms of transactions per second, and is considered one of the most promising blockchain projects to date. A production order is created on Ethereum and paid with AX tokens. An-IoT device accepts the contract and then the physical production events are transacted into the EOS blockchain. While the transaction fee is paid through Ethereum, any other blockchain technology can be plugged into the mechanism to handle all production-related transactions.

As ARXUM provides a digital supply chain infrastructure for industrial manufacturing companies, ARXUM needs to be able to select the best technology for any supply chain application. Therefore, the ARXUM Production Protocol aims to run on any available blockchain protocol that can use smart contracts.

There are different scenarios that prove how important it is for ARXUM to be blockchain flexible. For example, some production processes create a high number of payment transactions over time, which means state channels could be beneficial. Other production scenarios may have low transaction volumes but require elaborated smart contract templates. Some may have a high number of participants interacting with a single manufacturing order over a long period of time. There are also several other scenarios that could demonstrate ARXUM’s need to be flexible regarding blockchain protocols and ARXUM is currently working on implementing Bigchain DB in its Protocol.

ARXUM is the new blockchain based solution to organize cross-company production of mass-customized products. The ARXUM Production Protocol brings all production peers together in one single smart contract per production order and uses blockchain-inherent features to implement a multitude of functionalities required in a digital supply chain.

Website: https://.arxum.com
Whitepaper: https://arxum.com/downloads/

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Collaborative Economy Platform Winnest Announces Initial Coin Offering Dates

Blockchain-based collaborative economy market Winnest has announced the dates for an upcoming initial coin offering that will drive the development of the next generation of ecommerce. The Winnest project aims to eliminate the middleman from the ecommerce industry, creating a social marketplace that increases participant buying power and rewards users with a collectivized earning system.

The Winnest platform is driven by the WNC token, a peer-to-peer cryptocurrency designed to allow users to transact with one another without third-party fees. The Winnest project isn’t limited to a simple blockchain-based ecommerce platform, however. In addition to establishing a social marketplace where goods, services, and rentals can be offered and purchased with WNC, Winnest offers a comprehensive toolbox that provides consumers with “cashback” operations and users remuneration.

Winnest allows platform participants to promote products and services from the Winnest catalogue, providing merchants with increased visibility via a gamified structure that rewards users for their contribution to the Winnest community. Each WNC purchase on the Winnest platform generates an equivalent amount of TWNC Loyalty Winnest Tokens that are distributed to buyers, sellers, and promoters, establishing a collaborative remuneration model. Users of Winnest are able to take advantage of the platform’s synergies, thereby improving their buying power, network of followers, image, influence, and activity based on their participation.

TWNC tokens generated by the purchase and sale of products and services or by community-driven promotion can be used by platform participants to promote products, sponsor other products in order to benefit from network effects, or can even be converted directly to WNC tokens.

The Winnest ecosystem rewards participants via a hierarchical system of ranks that allow users to rapidly increase income based on network influence, incentivizing promoters to communicate the goods and services offered by Winnest merchants to buyers through sponsored news feed space, social media recommendations, and banner advertising.

The Winnest project is driven by CEO and Physicist Engineer Thomas Kautzsch, who is supported by an international team of ecommerce, fintech, and blockchain professionals. The Winnest token sale will generate 5,000,000,000 WNC, with 20% reserved for a four-week WNC pre-sale that will offer 40% bonuses for the first two weeks and then 30% for the subsequent two weeks.

The Winnest ICO pre-sale will launch at 6PM October 15, concluding at 6PM CET November 11. The Winnest ICO will launch at 6PM November 15, and conclude at 6PM January 10, 2019.

Winnest White Paper

To learn more visit: Winnest.io

Winnest ICO Dates

ICO Start Date & Hour:
15/11/2018 – 6pm CET
ICO End Date & Hour:
10/01/2019 – 6pm CET
Pre-ICO Start Date & Hour:
15/10/2018 –  6pm CET
Pre-ICO End Date & Hour:
12/11/2018 –  6pm CET

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Why Is Everyone Waiting for Tether?

Crypto markets are hard to predict. It’s true. It’s doubtful that Satoshi (whoever he or she may be) would have anticipated the 2017 Bitcoin bubble. However, with so much now in play here and an excessive amount of wealth held by crypto whales and institutions, why are we–the majority of the crypto community–allowing the markets to be manipulated right before our eyes? Why aren’t we taking steps to stop the next market crash? In short, why is everyone waiting for Tether?

Since December 2017, the rather large and growing seed of doubt has been planted surrounding Tether. Specifically, its proof of funds and correlation to Bitcoin’s price rises and falls. Yet, the majority of the industry carries on undeterred. For those with half an eye still open, they tend to place the responsibility on Bitfinex. The mega exchange needs to be more transparent and, well, everyone’s waiting for it to be so.

But as Bryan Courchesne of Digital Asset Investment Management (DAIM) points out in a medium article, “Instead of waiting for verification, let’s move on from it and use other options. The industry could be improved by removing some of the doubt.”

Why Tether Causes Storm Clouds on the Horizon

When the bombshell dropped that there may not be enough dollars backing Tether, it caused a PR disaster. Tether may not have a regulatory burden upon it. But the rest of the industry can and should be on guard.

Top exchanges, for example, have certain tests, protocols, and requirements when deciding to list a new coin or token. If Tether came along now, would an exchange operator approve it?” Courchesne inquires? The answer is somewhat doubtful.

“Imagine you approach an exchange to list a token with no proof of funds or legal backing, would the big exchanges even think twice? Of course not. The only reason that Tether holds such an important position in the cryptocurrency economy is because it was the first stable token in existence. It’s time to recognize there are now, other, better options.”

While users of Tether, for the most part, are undeterred by the speculation surrounding it, those who don’t use it seem to fail to see how Tether could affect their holdings. “Both groups should think again,” says Courchesne. “There is still further research and conclusions to be made in regards to the correlation between the issuance of Tether, movement of the coins to the Bitfinex exchange, and the price movement of Bitcoin.”

What Can We Do About Tether?

“I am proposing investors, creators, and influencers ask for exchanges to delist Tether pairs. We should not be willing to wait any longer to make a change that is needed or sit idly by and watch Tether continue to grow while questions go unanswered.” Courchesne’s approach sounds a little drastic, but it might be the rude awakening the market needs.

Tether, after all has more than twenty times more volume than the second most popular stablecoin. Exchanges may not like the idea of delisting Tether pairs, he says, since they may fear it will harm trading volumes or revenues. But there are plenty of other, more stable stablecoins, like TrueUSD that (unlike Tether) comes with escrow accounts and monthly reports. He argues:

“Simply trading out of Tether into something else more stable would hold volumes.”

And TrueUSD is far from the only solution. Other options could include fiat or another stablecoin. Delisting Tether pairs, he says, would clear out the unforeseen risk and “black swans” that could appear on the horizon (have in the past) and hold drastic consequences for the markets.

The Takeaway

Despite what Bitfinex has so far said in support of Tether, the rhetoric does not seem to be backed by action. While Bitfinex is so heavily invested in Tether, it may fight tooth and nail to ensure nothing negative happens, the doubts remain. We don’t have to wait for Bitfinex or Tether. The community can–and must–take action first.

“Investors have the ability to make changes now in order to avoid upcoming and potentially adverse findings,” he says. After all, if an altcoin has a legitimate product, the goal isn’t getting it listed in every pair possible. The goal is increasing adoption.

So, let’s stop waiting for institutions to validate the space and tell us everything’s okay when we have more than enough experienced and capable professionals who can take action–and responsibility–now. The change from Tether to another stablecoin would most likely go unnoticed by those outside of the industry. And for those within, well, it should help them sleep a little easier at night.

The post Why Is Everyone Waiting for Tether? appeared first on NullTX.

5 Current Airdrops You Don’t Want to Miss

Airdrops are an integral part of the cryptocurrency industry these days. New tokens and assets are created on a regular basis, and a fair few of those offerings provide a share of their supply to existing cryptocurrency users free of charge. The following five upcoming “airdrops” can be more classified as bounties, as they all require some effort on behalf of the user.

#5 SpendCoin

spendcoin

The SpendCoin airdrop/bounty has been going on for a full day and is expected to run until October 15th. A total of 260,000 SPND will be distributed as part of this airdrop to existing Ethereum wallet users. Users will need to jump through a few hoops to get their tokens. One needs to join their Telegram group, follow them on social media, and so forth. A total of 10 tokens will be distributed to every qualifying member.

#4 VogoV

vogov logo

The VogoV airdrop kicked off a few days ago and will run until December 20th. There is no specific cap as to how many tokens will be introduced to airdrop/bounty participants in the near future. The token is another ERC20 token which means users will need to have an Ethereum wallet address to participate. Claiming tokens requires entering an email address, following the team on social media, and creating a post about the VogoV project on said platform. Users will receive just 1 token, which may not necessarily seem too great to some.

#3 Magnetics

magnetics airdrop

Another bounty/airdrop taking place on the Ethereum network goes by the name of Magnetics. It does not appear to have a specific end date as of right now, Users need to join the Telegram group and submit some information prior to becoming eligible for this airdrop. A total of 100 tokens will be issued per user, which is a relatively decent amount. As is usually the case, the value one obtains from airdrops is very different from project to project.

#2 Integrity

integrity logo

The final Ethereum-based airdrop in the list goes by the name of Integrity. This is more of a bounty than a regular airdrop, primarily because of the numerous steps users need to go through. Subscribing to the whitelist, joining the Telegram group, and social media interaction are all required steps. Users will receive 100 ITX tokens in the end. It is important to note this ICO has nothing to do with the IXLedger ICO, which created its IXT token prior to this airdrop.

#1 MyWish

mywish logo

Holders of EOS will be quite pleased to hear they will see their fair share of airdrops and bounty-issued tokens in the coming months. In the case of MyWish, users will receive 40 tokens for joining the telegram group, as well as additional tokens on the airdrop date itself. Users will need to join the Telegram group, submit EOS account name and Telegram information through a form, and so forth.

As is always the case with these bounties, it is evident there are some caveats to take into account. This information may be used for promotional purposes moving forward, although one can always make a dummy account to participate in these bounty-drops. It is evident there is some good money to be made from these ventures, albeit no one will get rich overnight.

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Crypto Wallet Protection App Wants to Secure Your Wallets Against Malware

Crypto Wallet Protection App Wants to Secure Your Wallets Against Malware

Malware, a persistent thorn in the side of the internet’s wider community, has become an increasing concern for cryptocurrency users. A problem that comes in many forms, malicious software is leveraged by hackers to rob community members of their funds. One program, dubbed the clipboard hijacker, for instance, operates by secretly gaining control of a Windows device’s running memory. It then replaces the Bitcoin address copied into a user’s clipboard with the address of the attacker, leading the user to unwittingly transfers funds to the hacker.

New Jersey–based BlockSafe Technologies is determined to make mobile crypto wallets more secure with a mobile wallet protection app called the CryptoDefender. According to the company, the CryptoDefender mobile app proactively prevents keylogging malware from stealing your cryptocurrency wallet login details.

The mobile app, which has a desktop version, is loaded with a host of features including a password generator that creates and stores strong passwords, a password vault for encrypting and storing passwords securely, a secure browser and an OATH-complaint one-time password (OTP) generator for websites that allows for two-factor authentication.

Proactive Defense

George Waller, who serves as the CEO of BlockSafe and the co-founder of cybersecurity outfit StrikeForce Technologies, played a pivotal role in introducing out-of-band authentication and keystroke encryption to the marketplace. He has also held management roles at RxRemedy, TeachMeIT and HealthSCOUT.

Speaking with Bitcoin Magazine, Waller said the threat posed by bad actors and malware is one of the biggest barriers to the mass adoption of cryptocurrency.

“Wallets are very vulnerable and insecure, with an average of $9 million stolen every day. By far, those most at risk of becoming victims at the hands of bad actors are those without IT teams, sophisticated cybersecurity tools, or the experience to understand how great the risk can really be,” he remarked.

“The best targets to steal crypto from are the everyday investors, the folks that did the research and took the chance of investing their hard-earned dollars in an emerging and revolutionary technology, and as blockchain cybersecurity experts, we simply won’t stand idly by while the community that is the very foundation of this space are robbed straight out of it.”

At the core of how CryptoDefender operates is its keystroke encryption, which blocks keylogging malware and other forms of malware from breaching mobile crypto wallets.

It accomplishes this by encrypting every keystroke a user makes, rather than trying to detect keylogging malware on the device. The app installs an encrypted keystroke keyboard and then routes each encrypted keystroke through its secure data stack, bypassing the original data stack that can easily be hijacked by hackers.

Other Features

CryptoDefender comes with a secure mobile browser, which Waller says prevents against all forms of attack, including man-in-the-middle and man-in-the-browser attacks. Each time a user launches the browser, CryptoDefender will “generate a brand new browser on the fly, [and] when you close it, we dissolve it,” Waller explained.

“We don’t allow browser extensions, tabs, injections, cookies, or any other vulnerable attributes to be loaded into the browser. Every time you open our browser, it’s a brand new one for the first time.”

Users can create strong passwords up to 99 characters in length and store them automatically in the Password Vault for safekeeping. The Vault, which Waller claims is “extremely safe,” works hand in hand with the browser and the encrypted keyboard. He went on further by saying that the Vault uses AES-256 encryption — a key-generation technique used to encrypt data and prevent unwanted access to data — and fingerprint authentication to secure it.

“Many of us buy, sell, and move cryptocurrencies from our phones and desktops; if one device is protected while the other remains vulnerable to intrusion, they both are at risk. CryptoDefender is a tremendous milestone as it represents phase one in our three-part mission to secure the blockchain ecosystem,” Waller added.

Waller said the app is different from a long list of anti-keylogger software offering similar solutions because of its utility as both a downstream and upstream prescription. He also claimed the app is the “only keystroke encryption” product designed to protect crypto wallets.

“We built this with the assumption that your device is already infected, therefore, as soon as you install this, you are protected. Products that take a reactive approach, i.e., anti-virus software, are always stuck in that cat-n-mouse cycle and getting bypassed on a daily basis.”

The mobile app is available on the BlockSafe website for both Android and iOS devices.

This article originally appeared on Bitcoin Magazine.

GAWMiners CEO Joshua Garza Sentenced to Almost 2 Years in Prison

The cryptocurrency industry has seen its fair share of scams and nefarious projects over the years. GAW Miners, a project spearheaded by Homero Joshua Garza, is one of the biggest scams to date. Garza now finally faces a two-year prison sentence for his $9m Ponzi Scheme which gave cryptocurrency an even worse reputation.

Garza Finally Goes to Jail

The story of Joshua Garza and his nefarious cryptocurrency operations has been well-documented over the years. He ran not one, but four different cryptocurrency-related Ponzi Schemes over the years, resulting in a net loss of roughly $9m. Although that figure seems rather low, it seems those are the final findings of the investigation revolving around Garza.

The Ponzi Schemes operated by Garza include GAW, GAW Miners, ZenMiner, and ZenCloud. All of these services were interlinked in intricate ways, albeit it is evident a lot of people should have known better than to fall for any of these projects. Although Garza successfully evaded scrutiny and a jail sentence for several years, his stint as a fugitive will finally come to an end.

Operating four Ponzi schemes for nearly two full years, they all offered digital currency mining equipment or access to mining services. There is also the infamous PayCoin cryptocurrency, which is another black page in the history of cryptocurrency to date. This currency was successfully traded across numerous exchanges, further exposing enthusiasts to financial losses along the way.

Over the past year and a half, an official investigation regarding Garza was taking shape. It took more than twelve months to put together all of the necessary evidence. Last week, the legal side of things was finally highlighted, resulting in a jail sentence of two years. Some may find this is a just sentence, whereas others expected a far longer sentence. Garza is expected to report to prison in early January of 2019.

It is evident the sentencing of Joshua Garza shows fraud in the cryptocurrency world is not something one an get away with. Even so, numerous scams have continued to pop up ever since these incidents, and it may not be the final chapter filled with scams and Ponzi Schemes either. A lot of people see cryptocurrency as a get-rich-quick industry with no legal repercussions when committing fraudulent activity.

For the cryptocurrency industry, this sentencing is a positive sign as a whole. Government officials are weeding out the bad seeds, which is more than necessary in this day and age. All of this is happening without any official regulation affecting this nascent industry. Whether or not further regulatory measures will be put in place over the coming months, remains unclear at this time.

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Top 6 Ethereum Token Standards Offering Improvements Over ERC20

New tokens and digital assets are an integral part of the Ethereum ecosystem. All of these newly created assets adhere to specific standards. Users have grown accustomed to ERC20 tokens, yet other standards exist as well. The following token standards are ranked in terms of their current perceived market traction.

#6 ERC-884 (Dave Sag)

The concept of the ERC-884 standard was first introduced in April of 2018. The core idea of this new standard is to enforce token owners to verify their identity. All tokens using this standard can only be issued to whitelist clients. Moreover, it does not allow for partial tokens either, which can impact token sales accordingly. A more detailed post on what this standard represents can be found here.

#5 ERC-865 (Bhaskar)

Making digital tokens more user-friendly is always an option worth exploring. Bhaskar is confident the ERC-865 standard will introduce this much-needed change. This standard would remove transaction gas from the equation, and use the native tokens to pay for transaction fees. It would require the use of a third party accepting the fee payment in tokens, who then pays the corresponding amount of ether to the network.

#4 ERC-948 (Marko Vidrih)

There is no shortage of Ethereum-based standards for tokens and digital assets. The ERC-948 protocol would introduce an opt-out feature for users. More specifically, a smart contract can be created to withdraw tokens from users, as long as the users approve the contract in the first place. For subscription-based solutions, such a concept can certainly unlock a lot of new potential use cases.

#3 ERC-777 (Everett Muzzy)

Replacing the existing leading token standards will be a challenge. Despite the odds, ERC-777 still offers a few interesting options. It reduces friction and the number of transactions required to enact smart contract functionality. In more technical terms, it removes the double call function prior to enacting a contract. It also improves security features, as is documented in this Medium post.

#2 ERC-223 (Dexaran)

One of the first standards to be presented beyond ERC20 is designed to allow token transfers to behave in a manner similar to Ethereum transactions. By using event handling, the ERC-223 standard introduces a more secure approach to handling Ethereum-based tokens in general. It is not a foolproof solution, yet the concept still poses some interesting ideas other can improve upon moving forward.

#1 ERC-721

Introducing a class of unique tokens would certainly shake things up a bit in the Ethereum ecosystem. The ERC-721 standard would effectively allow for unique tokens to be created, managed, owned, and traded. This standard is also referred to as the non-fungible token standard, and has been embraced by a few token projects already. It is seemingly the logical successor to ERC20 if that protocol is ever discontinued.

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Dogecoin Price Watch: Currency Continues Moving Up in the Altcoin World

At press time, Dogecoin – the currency that began as a joke and represents Shiba Inus everywhere – is trading for about $0.0062. This is a good $0.0040 more than where it stood during our last price piece. For some reason, the currency appears to be doing better than most other altcoins and is rising through the ranks like nobody’s business.

Now, it would seem Dogecoin is in line for some additional fame and glory thanks to South African entrepreneur Elon Musk. Largely known as the man behind Tesla, Musk has made a name for himself in the crypto space by praising the Ethereum scam bots on Twitter for how advanced they are. At the same time, Musk doesn’t like the fact that anyone can simply impersonate him and potentially get their fingers on ether tokens from unsuspecting followers, and Musk is out to stop such “evil-doers” from getting the upper hand.

DOGEUSD: DOGE TO $0.21 WITHIN FEW MONTH - CryptoManiac101

Musk is asking the creator of Dogecoin, Jackson Palmer from Australia, to assist him in creating a solution that would prevent such scam bots from doing further harm. Getting involved, Palmer has already built a script that is alleged to scatter scam bots, and he is now working with Twitter executives to see it implemented.

Palmer messaged Musk on Twitter, writing:

“If you DM me (your DMs aren’t open), I’ll send you the script. It’s short, simple and you just run it with cron somewhere.”

A few minutes later, Palmer updated his Twitter feed by reporting:

“Update: Elon has the script. We had a good chat on how [Twitter CEO] Jack and the Twitter team should definitely automate and fix this problem on their end, though.”

Apparently, the scam bots are so common that Twitter recently began enforcing a new rule: if you change your name to Elon Musk, you are officially banned from the site. It’s as simple as that. Scam bots have even discovered ways to show up inside major blockchains. Recently, over $200,000 was stolen from an EOS-based gambling site. Following the event, some users were discovered “phishing” unsuspecting users through EOS blockchain messages.

Scam bots on Twitter have been a serious problem for some time. One user, who goes by the name of Emin Gun Sirer, sent a message to CEO Jack Dorsey, asking:

“These scams are getting out of hand, @jack, @twitter. If you can’t detect this kind of brazen scam, what hope do you have of improving your platform?”

Jack Dorsey offered the simple answer of, “We are on it” – virtually the same answer he gave to almost every other question while testifying before the House Committee.

Dogecoin Charts by TradingView

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4 Reasons Why Purchasing a Coinbase Bundle Makes Sense

Buying cryptocurrency remains a major hurdle for most consumers in this day and age. This problem is only compounded when users are looking to diversify their portfolio, as numerous hoops need to be jumped through. The Coinbase Bundle offers some interesting advantages in this regard. Below are four reasons to buy such a bundle, ranked in terms of overall appeal.

#4 Solid Availability

Coinbase is one of the world’s biggest centralized cryptocurrency exchanges. The company has successfully expanded in numerous jurisdictions. As such, the Coinbase Bundle will be available to clients across the European Union, United Kingdom, and the United States. These are also the three most active regions in terms of Coinbase users at this stage.

#3 No Extra Fees

Although users get a lot of convenience in return for buying a Coinbase Bundle, the package does not enlist any additional fees. Users will pay the same surcharge as if they were buying the cryptocurrencies which make up this bundle themselves. That means there is a 1.5% commission on the fiat value of each currency purchased. As this bundle encompasses five currencies, it would evoke the same fees as if buying all five of them separately.

#2 Diversification is Key

Investing in cryptocurrency is no longer about buying just Bitcoin or Ethereum. Instead, speculators and investors need to begin diversifying their portfolio as soon as possible. The Coinbase bundle makes this process a bit easier, as it supports five digital currencies at this time. Those currencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic.

It is worth noting users will not buy the number of coins for every supported currency. Instead, every bundle’s allocation is based on the price of each currency multiplied by the supply of that currency in circulation. As such, users will get fewer BTC – in terms of actual coins – but more ETC, because it has a lower market price. It is an interesting system that does most of the legwork on behalf of consumers automatically.

#1 You Decide the Amount

Cryptocurrency trading is not necessarily about giving users any say as to how much they must spend to buy a “good” amount of cryptocurrencies. This is especially true when it comes to purchasing multiple currencies. With the Coinbase Bundle, anyone can own these five currencies for as little as $25, 25 GBP, or 25 Euro. It is a small amount to invest in five currencies which all seemingly have long-term growth potential.

Surprisingly enough, Coinbase has not implemented an upper limit for their Coinbase Bundle purchases. There is a daily limit purchase amount based on a user’s verification limit, but that entire limit can be spent on this bundle every single day if the user so desires. It is still advised users send the coins purchased to a wallet under their personal account shortly after buying the funds, otherwise, it will remain in Coinbase’s custody.  

The post 4 Reasons Why Purchasing a Coinbase Bundle Makes Sense appeared first on NullTX.

Dash Added to Brazilian RealExchange Amid Latin American Dash Boom

Dash has been added to the Brazilian cryptocurrency exchange RealExchange in an expansion of Dash’s adoption in the region.

The Brazil-based exchange offers support for a handful of currencies including Dash, Bitcoin, Litecoin, and SmartCash. The exchange also supports fiat trading pairs with the Brazilian real.

For the next several weeks, RealExchange is running a promotion offering 0% trading fees in order to onboard new users onto the platform. This makes for a particularly attractive option of Brazilians seeking to get involved in Dash with as lessened risk, especially during a period of high market volatility.

Brazil is primed for a Dash explosion due to its Dash-heavy neighbors

Dash has historically had an energized community in Brazil, including the popular YouTube channel Dash Dinheiro Digital, a gas station accepting Dash for payments, and the first Dash-sponsored MMA fighter, which led to subsequent sponsorships of MMA legends Rory MacDonald and Chael Sonnen. However, its greatest growth potential may lie in its proximity to two of the most popular Dash destinations in the world, Venezuela and Colombia. At present, Colombia claims over 100 Dash-accepting businesses, mostly in the Medellin area, while Venezuela has made headlines for its impressive growth in Dash activity, accounting for over 1,400 businesses accepting it as payment.

The three countries share borders and two share a language, however each has its own separate currency, with some (the bolivar in particular) fluctuating wildly in value. A strong Dash presence in Venezuela, Colombia, and Brazil has the potential to create an economic zone with a common currency for trade, as well as leverage the remittance markets for the diasporas of each community around the world.

Over half of Dash’s global merchant adoption is in Latin America

Latin America remains Dash’s single largest area for merchant adoption, mostly thanks, but not limited, to the relative explosion of activity in Venezuela. Over half of the approximately 3,100 known Dash-accepting businesses around the world as listed on DiscoverDash are located in Latin America, with dozens more added every week. To further support this growth in adoption, Kripto Mobile has partnered with Dash to provide low-cost mobile phones pre-loaded with Dash apps and coming with a small amount of Dash, initially targeting Venezuela but with plans to expand further into the region.

What is Whale Alert?

Tracking large movements of value in the cryptocurrency world becomes a lot easier through the Whale Alert feature. This Twitter account scans Bitcoin, Ethereum, Tether, and ERC20 transactions for large incoming and outgoing transfers pertaining to exchange platforms. It is a valuable addition to the cryptocurrency world, especially for those who enjoy exploring this type of information.

The Whale Alert Concept Explained

Despite the transparent nature of Bitcoin’s and Ethereum’s blockchains, sniffing out large transactions in real-time is something no human can do reliably. As such, the Whale Alert Twitter account will do all of the legwork and share the relevant information with the world. It is a simple, yet potentially powerful service which brings more transparency to the cryptocurrency and ERC20 industry.

How Does it Work?

Although cryptocurrency transaction monitors are not exactly new, the service provided by Whale Alert is pretty intriguing. It currently focuses on ETH, BTC, USDT, and ERC20 transactions. Given the swelling rumors of trading manipulation pertaining to these markets, any tool providing more transparency will be well-appreciated by the community as a whole.

The monitoring service will tweet out real-time transactions as they occur on their respective networks. If an unusually large transaction is detected, it will try to identify the recipient or sender of the funds. Moreover, it will monitor the exchange for deposit wallets to further link transactions to potential market changes.

Perhaps the most appealing “feature” is how it will monitor Tether network activity. This stablecoin has been the subject of many speculative debates. Whale Alert will monitor the creation of USDT and EURT alike and share real-time details regarding such developments. It is a pretty interesting approach, although it remains to be seen if anything suspicious will pop up over time.

The Road Ahead

Although the Whale Alert service already focuses on some important blockchains and ecosystems, it is evident there will be more demand for services like these. Whale Alert can serve as an important tool for traders on the lookout for large movements of cryptocurrencies.

 

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3 Recent Eos DApp Issues Causing Community Concern

The EOS ecosystem is abuzz with dApps and other blockchain-based projects. Since the launch of the project’s main net, things have begun improving at an accelerated pace. However, there are some recent incidents affecting a few dApps which show the smart contract code is not up to par yet.  Additionally, some random occurrences still raise a lot of questions. None of the following cases has anything to do with issues native to EOS.

#3 Potential EOSBet Concerns

Gambling applications and services have always been popular among cryptocurrency enthusiasts. In the case of EOSBet, it is also the dApp which tends to generate the highest transaction volume as of right now. Some discrepancies have been uncovered in this regard. For some unknown reason, the system has paid out nearly 126,000 EOS to a single user in less than two days. Either this person is very lucky or they have found a bug they can exploit.

Doubling one’s money over numerous bets in a row is very uncommon in the gambling world. Especially when considering no other winners were noted on the EOSBet platform during the times this user was active. However, the dApp developer confirmed there is nothing wrong with the system, nor are any funds stolen. Some people are just born to be lucky.

#2 DEOSGames “Attack”

Any smart contract is subject to bugs, wrong coding, or hidden issues which only become apparent once the project goes live. For DEOSGames, its smart contract code could – or perhaps should – have been audited properly before going live. It did not take long for one user to discover a weakness they could exploit for personal gain.

In the end, this user managed to “obtain” $26,000 worth of EOS due to triggering two dozen jackpot payments in under 60 minutes. A marvelous feat, albeit one has to wonder why the contract has no code to flag such suspicious behavior. Even so, it seems the issue has been rectified, and services have not been affected because of this incident.

#1 Trybe’s Unauthorized Access

The biggest problem for EOS since the launch of its mainnet is courtesy of Trybe. This dApp’s developers were intent on distributing tokens to EOS accounts as a part of an “airdrop” campaign. Although that plan worked just fine, the team also distributed too many tokens to some accounts. Human error is not hard to come by in the cryptocurrency industry, unfortunately.

Rather than asking for the tokens back, Trybe’s team simply decided to access user wallets and retrieve the tokens themselves. This was done without user consent, which does not sit well with the EOS community, for obvious reasons. However, this also highlights how EOS’ ledger technology is mutable. That can be a good thing, in cases like these, but it will undoubtedly spark many new debates over the coming months.

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Two People Thousands of Miles Apart Explain Why They Are Living off of Dash

Venezuela and New Hampshire in the U.S. are too vastly different economic areas. Yet despite this, two people, thousands of miles apart, are showing what it’s like to live off of Dash, a peer-to-peer digital currency for payments. Joel Valenzuela is a cryptocurrency enthusiast living in New Hampshire and Eugenia Alcalá Sucre is an entrepreneur […]

The post Two People Thousands of Miles Apart Explain Why They Are Living off of Dash appeared first on Coinjournal.

Ethereum’s Constantinople Hard Fork To Ropsten Testnet In October, No Date For Mainnet Yet

Ethereum’s core developers have agreed to activate Constantinople in a testing environment, next month, according to a bi-weekly video call on Friday, September 14th 2018. As per CoinJournal’s report, Constantinople is a new upgrade of Ethereum’s four-stage development plan designed to enforce specific reforms that will help in obtaining signature verification and afford users the […]

The post Ethereum’s Constantinople Hard Fork To Ropsten Testnet In October, No Date For Mainnet Yet appeared first on Coinjournal.

Top 3 Successful Dogecoin Atomic Swap Experiments to Date

A lot of interesting things tend to happen in the world of cryptocurrency every single month. Looking back in history, the Dogecoin project has become subject to a lot of excitement regarding atomic swaps. The following three examples show there is a future for Dogecoin outside of being a meme currency.

#3 Komodo-DOGE Success

The Komodo team plays an integral role in the current cryptocurrency atomic swap ecosystem. Its platform and technology facilitate cross-chain swaps between a lot of different currencies. In September of 2017, the team confirmed it had completed two major milestones. A successful BTC-KMD swap was performed, but the bigger news is how KMD-DOGE transactions have been possible ever since as well.

What is rather interesting to note is how the BTC swap was completed using an Electrum client. It is unclear if this was achieved for the Dogecoin atomic swap too, yet it shows things are certainly progressing nicely in this regard. The role of DOGE in decentralized swaps and exchanges has yet to be determined, but it will be supported, by the look of things.

#2 Dogecoin to and From Litecoin

Litecoin is perhaps the most common cryptocurrency when it comes to exploring cross-chain atomic swaps. This is rather interesting to note, yet it also creates a lot of new opportunities to explore. A few months ago, the first ever Litecoin-Dogecoin atomic swap was completed successfully.

Although this may not seem big news, it shows exchanging different cryptocurrencies can be done in very different ways without going through centralized exchange platforms. As such, it will be interesting to see if further Litecoin-Dogecoin swaps will be explored in the near future.

#1 Ethereum-Dogecoin

Perhaps the biggest development to date comes in the form of performing an atomic swap between Ethereum and Dogecoin. Although this is not a very common market in the cryptocurrency industry, it will open a lot of new perspectives along the way. This first swap was completed using an Ethereum test node a while ago, which paves the way for further experiments in this regard.

Being able to perform atomic swaps will only become more important as cryptocurrencies mature. It is interesting to see Dogecoin becoming a part of this growing trend, especially because so few people take this particular cryptocurrency seriously. There is a lot more to Dogecoin than just memes and jokes, which is well worth keeping an eye on.

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High Return? CannabisCare CopyPortfolio Offered By eToro

Eagle-eyed investors are constantly seeking financial instruments that have the potential to generate high returns. Sometimes their investment hopes go up in smoke, alas. Experienced traders will have noticed how the medical marijuana market has exploded – in 2017 record growth for the legal cannabis industry saw total economic output reach $16 billion last year […]

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5 Current Ethereum Airdrops to Take Advantage of

The Ethereum network will receive its fair share of airdrops for quite some time to come. New ERC20 tokens are coming to market every single month, and a lot of those tokens will be distributed to ETH users free of charge. The following 5 airdrops are worth keeping an eye on, and they are ranked by their perceived value at current prices.

#5 BioCrypt

The current expected value of the BioCrypt airdrop is impossible to predict. This is primarily because the price per token sits at $0.05, yet the total supply or airdropped tokens per user remains rather unclear. Even so, Users still have 26 days to claim this token. BioCrypt wants to provide consumers and businesses with the power to leverage the blockchain.

#4 Infinitus

This smart designation repository is airdropping ERC20 tokens to Ethereum holders as of right. Users will receive 16 INF token to their Ethereum address, assuming they jump to a few hoops prior to getting them. It is expected these tokens will have a market value of $3.8, which makes it worthwhile to check out. At the current price, each token is valued at $0.24. The airdrop will expire in 28 days.

#3 ScientificCoin

Although the name does not necessarily instill a lot of confidence, ScientificCoin is a blockchain platform for scientific projects with a decentralized evaluation system. Users will receive 3 tokens for participating in the airdrop, which equals to a value of $4.5. This airdrop will run for another 27 days at the time of writing.

#2 CYBR

This is by far one of the more mysterious Ethereum-based airdrops to take note of. CYBR is a cybersecurity ecosystem and utility token. Users will need to go through a few hoops to claim their tokens, including active social media participation. In exchange for this effort, users receive 50 tokens, currently valued at $5.6. It may be an interesting platform to keep an eye on, as cybersecurity plays an increasing role of importance.

#1 AXEL

This native blockchain deployment redefining distributed exchange protocols service is very keen on becoming one of the most valuable ERC20 airdrops to date. As soon as users follow the steps to claim their 1300 AXEL tokens, they will have a “free” value of $26 in their Ethereum wallet. It is rather uncommon for airdrops to give away such a high value, but it’s interesting regardless.

Considering how users still have 27 days to claim these tokens, time may be of the essence. This is also the only airdrop on the list requiring users to download an application, which may or may not be subject to potential problems later on. Always do your own research prior to installing unknown applications, even if its simply to claim ERC20 airdrop tokens.

The post 5 Current Ethereum Airdrops to Take Advantage of appeared first on NullTX.

Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly

Recently, there appears allegation upon the trading volume of OKEx, a world-leading digital asset exchange. However, the allegation itself is invalid for the difficulty to collect the accurate data of trading volume as a person or even media outlets, let alone exchanges like OKEx with futures trading and API transaction.

Disclosure: This is a Sponsored Article

What’s more, there is an important fact need to be mentioned. It is reported that OKEx has launched a program named Happy Friday, a bonus distribution campaign that to give away 50% of its trading fee to OKB (OKEx platform token) holders weekly. The program has distributed approximately $5 million last week. If OKEx has washed trade grossly to reach the volume which currently listed on CMC, meantime the weekly bonus remained $5 million; the exchange will need to pay most of the bonus to users with its own money, then why would OKEx make fake volume? That does not make any sense.

The Happy Friday campaign mentioned above is a program launched by OKEx to distribute 50% of weekly transaction fee as BTC bonus every Friday to users holding OKB. The amount is based on the percentage of OKB the user holds. Since launched, the Happy Friday campaign became popular among OK users worldwide, and the mega bonus pool has once reached up to 2,000 BTC.

OKEX, as one of the top crypto exchanges by volume, 24H trading volume reached $872 million on CoinMarketCap (14th, Sep.), and $5.07 billion on AICoin (14th, Sep.), the most popular website about crypto information in China. The former lists only token-trading while AICoin records the total volume including futures trading.

Taking the data on CoinMarketCap as basic volume and 0.02%, the lowest rate as standard (which is hardly possible), therefore, the daily trading fee is $174,550, while the amount of weekly bonus pool would be $610,925 (of only token-trading), which will all be distributed to OKB holders.

The data showed is based on the lowest rate of trading fee enjoyed by the highest-level member, and the trading volume exclude futures trading, which is the majority revenue source of OKEx. According to AICoin, the total trading volume in the past 24H is $5.07 billion, so the 24H futures trading volume would be $4,197,248,301. Assuming the trading fee rate is still 0.02%, then the daily trading fee is $839,450, and the amount of weekly bonus pool would be $2,938,075, which would all distributed to OKB holders as well.

According to the data calculated above, users can get over 1,200 BTC each week from the OKEx Happy Friday campaign. At the same time, the eligibility is even easy to meet that you just need to hold no less than 100 OKB to enjoy mega bonus.

As to OKB, it is a global utility token issued by OK Blockchain Foundation to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry.

Different from tokens from other platforms, OKB has a great roadmap including but not limited to the application of programs such as Happy Friday, Global Partner, Prime Investor, OK Partner Exchange etc., as well as the world’s first index product OK06ETT. The total available supply of OKB is 1 billion, some of which will be locked up with those programs meanwhile the value of OKB will be added. 60% of the circulation amount will be given to OKEx users for community building through marketing campaigns, which enables OKB holders to enjoy various privileges and the increasing profit for long term.

*The current price of OKB is $1.23, which is near the historic low point and worth to invest.

The post Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly appeared first on NullTX.

Dash Price: $200 Target is Within Reach as Trading Volume Picks up

It would appear most cryptocurrency markets are part of a sea of mediocrity right now. No real changes are noted across the board, resulting in a rather lackluster trading momentum affecting Bitcoin and altcoins alike. One interesting exception is the Dash price, which still notes some positive growth. If this trend keeps up, one Dash should be worth $200 or more before the day is over.

Dash Price Improves As Others Falter

In the world of cryptocurrencies, most altcoins are linked to Bitcoin in terms of market momentum. In some cases, that situation tends to change out of the blue. This particular time, the Dash price is rising swiftly, whereas Bitcoin and all other top cryptocurrencies continue to lose value at an accelerating pace. Although such momentum is not entirely uncommon, it shows interesting things are taking place behind the scenes.

Although it is unclear why this trend is materializing right now, it shows cryptocurrencies are far more complex than most people assume. Instead, markets tend to behave independently from one another on multiple occasions. An effective decoupling between Dash and Bitcoin is not expected to take place in the near future just yet, although this current trend is pretty intriguing regardless.

It is possible this current dash price trend is influenced by the ongoing marketing push across Venezuela. Unlike other cryptocurrencies, Dash seemingly gains traction in this poverty-stricken nation. Whether or not that will make Dahs more appealing or has the potential to influence its price in a significant manner, is very difficult to predict first and foremost.

There is one bit of positive news which can explain a surge in Dash popularity. A new traveling website, which goes by the name of More Stamps Global, has successfully integrated cryptocurrency payments recently. Their list of supported coins includes Dash, Bitcoin Cash, Bitcoin, Litecoin, and so forth. It is another example of how cryptocurrency adoption by merchants is on the rise, even though this market remains rather small, for the time being.

Unlike most other cryptocurrencies, Dash isn’t suffering from a decrease in 24-hour trading volume. In fact, the altcoin is noting a rather high volume given the current circumstances. With nearly $270m in volume, the demand for this altcoin is intensifying as more time progresses. This will undoubtedly lead to a few more gains in the Dash price department, assuming this trend holds up.

Because of this uneasy cryptocurrency market momentum, it is very difficult to make accurate Dash price predictions. It is certainly possible things will continue to improve from this point forward, albeit the reversal can happen as well. For Dash price watchers, $200 remains an important target, although maintaining that level will always be a challenge.

The post Dash Price: $200 Target is Within Reach as Trading Volume Picks up appeared first on NullTX.

Top 6 Crypto Projects Ranked by 90-day Commit Activity

Ensuring cryptocurrency and blockchain projects can continue to grow and evolve is the number one priority. Thousands of developers are working on various projects to make them more competitive and robust. The following six currencies have noted a healthy influx of developer activity over the past 90 days in this regard. Statistics are provided by OnChainFX.

#6 Zilliqa

zilliqa network

Over the past few months, a few projects have shifted their attention to Zilliqa. It is a more scalable blockchain infrastructure compared to Ethereum, for example. The project is also constantly undergoing upgrades and small changes. With a commit activity of 754 in the past 90 days, Zilliqa appears to be on the right track to improve its position in the market. Even so, there is always plenty of work to be done.

#5 EOS

eos logo

Over the past few weeks, things have picked up significantly for EOS. The launch of the project’s main net has been quite a game changer, and it seems tweaks and performance improvements are being introduced on a regular basis. EOS is the first project on the list to pass the 1,000 commit threshold, as 1,357 commits were noted during the past 90 days.

#4 RChain

rchain logo

A very prominent blockchain venture always needs to undergo changes, upgrades, and enhancements. The RChain team is, by the looks of it, working on a lot of small tasks around the clock. With 1,403 commits in the past three months, its developers and contributors have been quite busy on many different ends. It can spur competition in the world of blockchain, which is always a worthwhile cause.

#3 AElf

TheMerkle aelf

For a project which hardly ever generates any real news headlines, the AElf project is still going strong behind the scenes of the industry. It has one of the busiest GitHub repos at this time, further indicating big changes are bound to happen where this project is concerned. A total of 1,468 commits are recorded over the past 90 days, which is a more than respectable number.

#2 TRON

tron logo

No one will really be surprised to see TRON is relatively high up the list of ninety-day commits. It has recently launched its own main net, similar to EOS. However, TRON is a bit more active in the development department, with 1,507 commits in the past 90 days. Competition among projects is always a good thing, and it seems TRON contributors have taken up the challenge.

#1 0x

NulLTX 0x Price Bullish

The 0x protocol can be a big game changer for the cryptocurrency industry as a whole. As more and more projects begin incorporating this technology, 0x can be further refined and improved upon based on user feedback. This may explain why the project has seen 1,906 commits in just 90 days, which means over 20 changes or additions are made every single day.

The post Top 6 Crypto Projects Ranked by 90-day Commit Activity appeared first on NullTX.

Study: Hard Forks Hinder Mass Cryptocurrency Adoption

A new study published in Springer’s Journal, Environment Systems and Decisions, claims that hardforks are a hindrance to mass adoption of cryptocurrencies.

The study claimed that hardforks create an erosion of trust and decrease consumer confidence in cryptocurrency’s use as a medium of exchange. The study predicted as many as 50 hardforks could still happen this year and studied over 800 hard forks, source code forks and soft forks.

The paper focused on the need for better governance within the cryptocurrency community, but still recognized that traditional governance methods would not mesh with the decentralized nature of cryptocurrency. The study said there is a need to “have a more proactive approach for goal-setting, problem identification, and compromise between those who resist software updates with those who favor more regular updates”.

Dash is structured to achieve consensus

The study continued by saying there is an “urgent need for miners and other stakeholders within the Bitcoin network to generate more predictability and stability with its governance by setting clear guidelines regarding when software updates are beneficial and should be adopted”. The paper proposed the development of “elements of anticipatory governance by identifying potential software challenges early on” to make forks less necessary and/or contentious. Interestingly, the study cited Vertcoin, Dogecoin and Litecoin as examples of Bitcoin forks that are able to achieve significant communities and last for years rather than many forks that die off not too long after the fork. However, Dash was not mentioned as one of these coins.

Dash was originally a fork of Litecoin a few years ago, but since Litecoin soon became a dead coin with little development updates, Dash was re-forked from Bitcoin. Dash quickly initiated a series of improvements that created an enhanced Decentralize Autonomous Organization (DAO) governance protocol that now includes Masternodes and a Treasury in addition to traditional miners. Masternodes are required to stake 1000 Dash, a significant financial investment, which incentivizes Masternodes to act in the best interests of the network when voting on which proposals to fund via the Treasury. This has allowed for the Treasury to use its 10% monthly allotment of Dash block rewards to fund proposals that advance the best interests of improving the Dash community and network. Through this system, Dash is able to achieve consensus much easier than other coins.

Dash Core Group, the DAO Treasury funded development team, has been responsible for developing Dash upgrades, including the 12.2 upgrade that doubled Dash’s block size. The upgrade was seamlessly integrated by Masternodes and miners, which is in stark contrast to the proposed upgrade to double Bitcoin’s blocksize that resulted in the very contentious fork of Bitcoin and Bitcoin Cash. Since the actors within Dash are incentivized to maintain a coherent and productive network, Dash achieves consensus easier and more reliably than other coins.

Dash strengthens community trust to increase adoption

The study draws important attention to the fact that currency requires trust, whether that trust is in government (fiat), mineral deposits (commodity money), or code (cryptocurrency). Dash aims to create further trust in its code by creating a better incentivized structure that helps support its ability to achieve consensus and develop the currency. In addition to the features mentioned above, Dash also invented sporks, which further helps ensure smooth operations, consensus building, and prevents accidental forks during upgrades. Dash’s ability to achieve both decentralization and consensus can be seen in the most recent logo upgrade where the logo picked by the DAO funded Dash Core Group was overruled in favor of a logo put forth by the community in a DAO Treasury proposal. The community proposed logo won out by receiving the majority of votes and the rest of the network adopted this logo because of the incentives to act in the best interests of the network and quickly reach consensus on decisions.

This ability to achieve consensus enables Dash to strengthen community trust in Dash to achieve wider adoption. In Venezuela, where the national fiat currency, the Bolivar, is worthless, consumers are turning to Dash as an everyday currency alternative. Consumers have developed trust in Dash by witnessing its the organized community outreach funded by the DAO Treasury and Dash’s ability to maintain its extremely fast speed, low fees, and security through upgrades and increasing usage. Dash has demonstrated its ability to create greater trust through its decentralized governance by allowing consumers to witness the smooth development maintenance, upgrades, and consensus building of Dash.

Dogecoin Price: Momentum Flattens out Despite Elon Musk Talking to Jackson Palmer

Kicking off a new week in the world of crypto trading can often have interesting consequences. In the case of Dogecoin’s price, it appears the market is trading sideways, at least for the time being. There are still some interesting developments taking place within the community, which may effectively spark more interest in this cryptocurrency.

Dogecoin Price Remains Rather Flat

After going through the second week in a row filled with strong gains, it is not entirely uncommon to see the Dogecoin price go flat every now and then. Over the past 24 hours, this popular altcoin has noted a 0.34% decline in USD value and a 0.42% decline in the BTC ratio. Considering how the value of Bitcoin is on the decline as of right now, it seems to be a matter of time until the Dogecoin price moves up again.

As is always the case when cryptocurrencies go flat, one has to wonder what the future will hold for the Dogecoin price. If the previous two weeks are any indication, another uptrend will materialize fairly soon. Cryptocurrency markets are impossible to predict, and it has become apparent the Dogecoin market may be the most unpredictable of them all.

Some interesting developments are happening across social media once again. Given Dogecoin’s “meme currency” position, it is only normal social media plays an integral role in the process. A lot of people are interested in the tweet by Elon Musk to Jackson Palmer, one of the original Dogecoin creators. Although Palmer is no longer actively working on this altcoin, he still remains a prominent figure in the cryptocurrency world.

Venezuela is often considered to be a market prone to cryptocurrency disruption. Given the financial problems affecting this country for as long as people can remember, it is evident something will need to happen to address these problems.

According to the tweet below, Venezuelan interest in both Dogecoin and Litecoin has spiked over the past five years. Interestingly enough, Dogecoin’s use in this country has never been officially documented.

For those looking to earn some Dogecoin during these interesting times, the Tipestry initiative may be worth keeping an eye on. The company offers 100 DOGE for each addition of media organizations shutting down their comment sections. A maximum of 10,000 DOGE will be distributed for viable information in this regard. An interesting initiative, albeit it remains to be seen any submissions will be made.

All of this shows the global interest in Dogecoin has not diminished as of yet. This may positively impact the Dogecoin price in the coming days and weeks. Whether or not there will be any positive developments in this regard, is very difficult to predict, as anything is possible. For now, one has to bide their time and keep an open mind where Dogecoin is concerned. This currency is anything but a joke at this stage.

The post Dogecoin Price: Momentum Flattens out Despite Elon Musk Talking to Jackson Palmer appeared first on NullTX.

Bitcoin News Summary – September 17, 2018

The post Bitcoin News Summary – September 17, 2018 appeared first on 99 Bitcoins.

Here’s what happened this week in Bitcoin in 99 seconds.  Coinbase announced the doubling of its February staff count, to 500 permanent members. Coinbase CEO, Brian Armstrong, predicted 1 billion crypto users within 5 years. The SEC suspended the Swedish Bitcoin and Ethereum ETFs within America known as “Bitcoin or Ethereum Tracker One”. On […]

Global Blockchain Forum October 2018

From October 4-5, 2018 at Hyatt Regency San Francisco in California, Global Blockchain Forum will be launching its Blockchain Forum for Movers and Shakers. As its second large forum of the year, Global Blockchain Forum is expecting to bring in some big names and revelations for the blockchain field.

Global Blockchain Forum’s October event will echo the success of its April 2-3, 2018 event at Santa Clara Convention Center in California. During the April event, speakers such as Tim Draper, Michael Arrington, and Eric Ly shared their thoughts with the crowd. Multiple tech panel discussions were included, as well as an ICO pitch competition where winning teams received prizes.

For the October forum, Global Blockchain Forum already has enlisted key speakers such as Jeff McDonald (the co-founder of NEM Foundation) and Alex Mashinsky (the founder and CEO of Celsius Network). Other speakers who are lined up include Vinny Lingham (the co-founder of Civic) and Michael Arrington (the founder of TechCrunch).

Tickets for the upcoming October 4-5 event will be a mixture of discount-upon-request ticket types, early bird general admission and VIP tickets, and regular general admission and VIP tickets. Currently, early bird tickets are being offered for general admission and VIP access. Early bird general admission tickets cost $599 each, and early bird VIP tickets cost $1,199 each. These prices are expected to rise shorty.

The October conference will be specially designed for action-oriented movers and shakers in the blockchain industry. For the event, there are expected to be over 3,000 attendees, over 100 speakers, over 100 companies, and over 100 partners.

The forum will be hosted in Hyatt Regency San Francisco, at 5 Embarcadero Center, San Francisco, CA 94111. For more information, please visit the official website at https://gbforum.co/.

Contact:

Global Blockchain Forum

partners@gbforum.co

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post Global Blockchain Forum October 2018 appeared first on NullTX.

A Failed Idea – The CEO of India’s Biggest Startup Incubator Gets Facts Wrong As He Tears Into Bitcoin

Bitcoin has succeeded as an asset but has failed terribly as a currency. It has only gained traction within a very small niche following, lacking any use in real-world transactions. It only handles a very small number of transactions compared to its competitors like Visa, all while consuming large amounts of energy which further makes it unsuitable for mainstream use. This is according to Jay Krishnan, the CEO of India’s largest startup incubator and a venture advisor to SRI Capital, a VC firm with investments in augmented reality, e-commerce and industrial automation. Krishnan tore into Bitcoin in an op-ed for the Economic Times, calling it a failed idea. However, the startup veteran got many of his facts wrong, including the fees charged for a transaction which he greatly exaggerated.

“Decentralization Has Become Worse Than The Traditional Setup”

Krishnan began his op-ed by pointing out the great success that Bitcoin initially had, opening up cost-effective cross-border funds transfers and solving the longstanding double spending challenge among others. Bitcoin rode on the media hype to bring in huge initial investments, with most of the investors looking at it as a way to make quick bucks.

However, Bitcoin has “failed miserably at achieving any of the initial goals it set out to achieve,” Krishnan stated. To begin with, its anonymity has made it a haven for criminals who according to him are among the biggest users of the crypto. This differs with a report by Bloomberg which in August pointed out that according to a Drug Enforcement Administration agent, criminal activities only account for 10 percent of the Bitcoin volume, down from 90 percent five years ago.

Making the case worse for Bitcoin, its users must be very well versed in technology to use it, he continued. “It’s challenging to have non-specialists get a grasp of a currency that has no physical presence but is also difficult to use,” he continued. With blockchain transactions being irreversible, using the crypto becomes even riskier for novice users.

Krishnan attacked the high fees changed for Bitcoin transactions which according to him are usually above $20 for a single transaction. The claim is false, with the transaction fee averaging below $0.5 since February this year. The last time the transaction fee hit $20 was back in early January when the number of transactions was quite high, with Bitcoin trading at over $15,000 then.

He continued:

The transaction fee is paid to ensure convenience and security in the exchange. This is not only higher than the transaction fee paid for regulated currency but is also an indication of the security risk it holds.

Financial technology is greatly needed to disrupt the financial transaction, Krishnan admitted, but Bitcoin “has by far been the least implementable solution.” It’s almost impossible for governments to regulate the crypto due to its anonymous nature, all while its lack of scalability puts it way behind Visa for transactions executed per second. These are some of the reasons that, despite being around for a decade, Bitcoin’s adoption by the masses is still non-existent, he pointed out.

No matter how much the technology of it can be innovated, the fact still remains that it is completely counterintuitive to socialism and social good, while at the same time destabilizing a country’s accountability for its FDI and cross-border money flow.

The post A Failed Idea – The CEO of India’s Biggest Startup Incubator Gets Facts Wrong As He Tears Into Bitcoin appeared first on NullTX.

By Next Year, Almost 50% of Phone Calls in the US Will Be Scams

Even though mobile calls have been a popular invention, they also become an increasingly popular tool among criminals. A new report shows nearly half of cell phone calls in the US will be a scam by 2019. A very worrisome statistic, which also has major cryptocurrency-related implications.

Beware of Cell Phone Call Scams

It is quite interesting to note how technology with positive consequences often leads to an increase in criminal activity. In the case of cell phone calls, that trend is quickly growing out of proportion. Just a few years ago, 3.7% of all US-based cell phone calls were a scam. That number itself is quite worrisome. To make matters worse, it rose to 29.2% in 2018. This further confirms criminals see mobile calls as a valuable and viable tool.

Unfortunately, this is only the beginning of a further evolution. The report by First Orion claims close to 45% of all US cell phone calls in 2018 will have scam implications. It is unclear which opportunities criminals are pursuing exactly, but consumers need to be wary of any mobile call they receive in this day and age. Especially if it is an unknown number, not picking up remains the most viable course of action.

This criminal trend doesn’t just encompass unknown numbers either. Even if the number of a friend or relative is on the screen, there is a very real chance their number has either been spoofed or taken over by criminals for nefarious purposes. It is evident there are a lot of opportunities for criminals when it comes to cell phone calls, yet there are very few countermeasures in place to protect consumers.

Some of the worrisome trends in this regard pertain to robocalls, scam calls, and caller ID spoofing. Despite First Orion collaborating with the US’ largest cell phone providers, it is very difficult to come up with protective measures. T-Mobile lists potentially fraudulent calls as “Scam Likely”, which is a small step in the right direction. Unfortunately, it seems he scammers are already on to this trend and will come up with new solutions accordingly.

For cryptocurrency users, this trend can also have major implications. Numerous Bitcoin holders have had their mobile numbers hijacked by scammers to empty their exchange wallets. It now seems they may soon be on the receiving end of scam calls in a new attempt to defraud cryptocurrency holders. Not picking up your mobile phone is an antisocial countermeasure, yet it will also keep one safe from this particular threat until things improve.

Scammers will always find ways to make money and cause havoc. This latest trend is not something one can solve with new regulation or banning mobile communications altogether. It is a very serious problem which needs to be addressed carefully. An in-network carrier solution is needed, although it may take years until such a countermeasure is ready for use on a large scale.

The post By Next Year, Almost 50% of Phone Calls in the US Will Be Scams appeared first on NullTX.

A Market In Recovery – Ethereum, Monero and Tezos Lead As Most Cryptos Reverse Downward Trend

It hasn’t been the best month for cryptocurrencies, with the market shedding as much as $50 billion in the first two weeks of September alone. For some like Ethereum, the month has been outright brutal, with the most valuable altcoin registering its lowest price of the year at just over $170. However, the trend is slowly reversing and the market is seeing consistent green, with most cryptos regaining much of the value lost in the past two weeks. Ethereum has been among the biggest gainers, registering a 10 percent gain in the past two days to trade at $223 at press time. Bitcoin has held steady over $6,500 over the past two days for the first time in the past week, with other altcoins such as Tezos, EOS, NEM and Monero also registering notable gains to take the total market capitalization above $200 billion.

Reversing The Downward Trend

Having sunk to $6,200 a week ago, Bitcoin made quick gains to trade above $6,500 where it has consistently held out despite the unpredictability of the market. The king of cryptos was trading at $6,535 at press time, having appreciated 0.4 percent in the last 24 hours. The volume traded decreased to $3.3 billion, down from $4 billion traded the previous day according to data from CoinMarketCap. Bitcoin had dropped to just above $6,200 days ago after a sudden flash crash hit the market, wiping out consistent gains that had put the biggest crypto at a 30-day high of $7,380.

The second-most valuable crypto, Ethereum has fought back after registering a yearly low of just over $170 days ago to trade above $200 for the third consecutive day. Trading at $223, Ethereum gained 3.3 percent in the last 24 hours and 30 percent in the past three days. At $170, this was the lowest Ethereum has hit since July 2017 and an 85 percent drop from its high of $1,400 achieved in January this year. Ethereum’s price drop was accompanied by comments made by its founder Vitalik Buterin who a week ago stated that the days of 1000-times growth in crypto were behind us. After several industry leaders disagreed with him including Ethereum co-founder Joseph Lubin, he retracted his statement and accused media outlets of misquoting him.

Other notable gainers in the top ten include EOS which has appreciated by 11 percent in the past two days to trade at $5.43 and Monero which at $118 has gained 21 percent. Most notable is Litecoin which hit its lowest price for the year at $48 two days ago, down 38 percent for the month and a staggering 87 percent from its January record high of $371. The seventh-most valuable crypto has gained 18 percent in the past two days to trade at $57 at press time.

The total market capitalization stands at $204 billion, standing above the $200 billion mark for the second day in a row after hitting a yearly low of $191 billion days ago. Bitcoin’s dominance has continued to rise, currently standing at 55 percent. It has dropped briefly from its all-year high achieved just days ago at 57 percent when most altcoins crashed, shedding billions of dollars in market cap. Bitcoin’s dominance has continued to rise since May when it stood at 36 percent as the largest crypto has managed to withstand some of the severe market fluctuations.

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Bitcoin Price Watch: Could the Currency Reach $19,000 Again?

At press time, the father of cryptocurrency is trading for over $6,400, meaning it’s virtually unchanged since our previous price article. The currency – once again – appears trapped in the low to mid-$6,000 range, and it’s unclear if the bulls have enough power to last the rest of the year.

One of the big questions is whether bitcoin could ever strike the $19,000 mark again. As we all remember, the currency hit an all-time high during December of last year, nearly pushing the $20,000 envelope and giving bitcoin its highest value to date. Sadly, the price wasn’t meant to be, as bitcoin ultimately fell – and continued to fall – throughout 2018, shaking off about 70 percent of its total value in as little as six months.

BTCUSD: The Truth of The Matter — BITCOIN! (BTC)

Since June, the currency has been trapped in some low or mid-$6,000 figure, and while two small bull runs did occur in mid-July and August, both were short lived. The first took bitcoin all the way to $8,000, while the second took it to the $7,000 range. Many enthusiasts thought each moment an important point in time that would mark the future ascension of bitcoin, but this never occurred.

So, now the question is, “Could bitcoin ever strike that golden mark again? Is $19,000 still a possibility, or has the ship sailed for good?” one source says a rise to $19,000 again wouldn’t be completely out of the question. At the same time, bitcoin’s journey towards that figure is likely to be marred by troubles that would see it lie flat on the ground in a state of complete submission.

One of the main issues involves investor sentiment. Bitcoin has always been driven by the general attitudes of those who would invest in it. If they believe in bitcoin, the currency is likely to experience respective price spikes. The real trouble here is that most investors consider bitcoin dead in the water. While some still show faith in the coin, others look at is as a fad that ran its course. Its fall from grace following last December hasn’t done much to cement its position of respect and security among several would-be traders.

In addition, bitcoin seems to lack infrastructure and has limits on its scalability, which could ultimately prevent it from garnering any serious practicality and replacing traditional currencies anytime soon. Lastly, lawmakers have repeatedly viewed the currency and other digital assets in a negative light, and it’s possible that bitcoin’s growth will be halted by regulatory change.

The source in question says that while $19,000 is not impossible, it will take some time to reach. It also suggests specific stocks as smarter investment choices given the currency’s ongoing volatility.

Bitcoin Charts by TradingView

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Ethereum Price: Brief Dip is Normal yet Price Should Rebound Soon

After a few days of strong gains, the Ethereum price appears to be going through the expected minor correction. All top currencies are struggling this Sunday, thus it is not entirely unrealistic to see the Ethereum price suffer from a similar fate. Although this decline is relatively small, it will be interesting to see how traders respond in the coming days.

Ethereum Price Correction is Necessary

No financial asset can rise in value for an extended period of time without suffering from a setback. In the case of the Ethereum price, this small correction is completely expected. After recovering a significant amount of lost value, this slight reversal is healthy for the ecosystem as a whole. Profit-taking is only normal in this industry, especially on days when there is no influx of fresh capital.

This small decline has pushed the Ethereum price back down to the $218 level It is still a lot more favorable compared to the sub-$190 level just a few days ago. If Ethereum can remain above $215, it may very well see further gains in the coming days and weeks.

One has to keep in mind there are several factors influencing the cryptocurrency market prices, In most cases, a decline in Bitcoin will drag all other altcoins with it accordingly. At the same time, there is still a rumor circulating regarding how ICOs are quickly liquidating Ether holdings to recover some of the value they have lost by holding on to this asset. Whether or not there is any truth to that rumor, is always difficult to predict.

With no real notable news regarding Ethereum this weekend, it will be interesting to see what the future holds. Although this ecosystem does not need daily updates and radical changes, unlocking the true long-term potential may require an extra effort. With the upcoming Constantinople hard fork to go in effect this year, Ethereum will take another step toward scalability and solving some of its flaws.

Looking at the price prediction charts, it seems a lot of speculators expect the price to go down a bit further. According to AmCRYPTOLIVE, the Ethereum price will go a slow as $210, prior to potentially rising again. There is still some bullish momentum left in the tank for Ethereum, as traders are seemingly not willing to let the price slip too far, for the time being.

The coming days will be rather interesting for all cryptocurrencies. No major price movements are expected, yet that doesn’t mean nothing will materialize. Dogecoin has shown the world trends can pop up out of nowhere and remain in place for an extended period of time. Whether or not the Ethereum price will see a similar trend, is impossible to predict. Anything is possible when it comes to cryptocurrencies.

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6 Blockchain Projects With The Fewest Developer Commits in 90 Days

As the cryptocurrency industry continues to evolve, it is evident things will continue to improve overall. The activity on GitHub of some projects can tell a lot about how things are progressing. In the case of the following currencies, they are ranked by low commit activity over the past 90 days. It is a worrisome trend, although there are many reasons why these numbers may be so low. Statistics are provided by OnchainFX.

#6 Numerai

Although there has never been much buzz regarding Numerai, it is an altcoin some people tend to keep a close eye on regardless. In terms of GitHub activity, it is not seeing too much excitement, with just one commit in the past 90 days. Rather unusual for a currency positioning itself as a data science competition platform. It will be interesting to see if things pick up as the year progresses further.

#5 Ark

There are numerous cryptocurrency enthusiasts who have high hopes for the Ark project. It was one of the hottest altcoins, albeit things have calmed down significantly With just one commit in 90 days, the currency is not undergoing too many changes as of right now. The quest to build interoperable blockchain products is far from over, though.

#4 Ardor

The self-professed blockchain-as-a-service platform is facing a lot of stiff competition from other similar projects. Even so, Ardor is solidifying its position in this market, as the project recently celebrated its second birthday. On the GitHub side, it seems the project has seen just one commit in the past three months, which is not all that promising.

#3 Storj

Anyone who has been involved in cryptocurrency and blockchain over the past few years will know what the Storj project is all about. The project mainly focuses on decentralized and private cloud storage to both consumers and corporations around the world. It has seen one commit in the past 90 days, which confirms the development of this ecosystem is still ongoing. Even so, one would expect a bit more activity from such a prominent project.

#2 Monacoin

The Monacoin project is primarily popular in Asia, by the look of things. That makes it a bit different from traditional cryptocurrencies, although it remains to be seen if Monacoin can achieve similar success in the rest of the world. With just two commits in 90 days, no drastic changes are being made to this currency, although there may not necessarily be a need for change either.

#1 Litecoin

No one will be really surprised to learn Litecoin has not seen a tremendous amount of commit activity over the past three months. Although three commits are still better than every other project on this list, Litecoin will simply not see any major developmental changes for the foreseeable future. That hasn’t hindered its potential price growth yet, nor will it impede future gains, by the look of things.

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Top 5 Blockchain Games not Using Ethereum

As Ethereum continues to fall further below US$200, headlines worldwide unanimously call for a death to Ethereum. Whether or not that is truly the case is very much up for discussion. However, in the niche of blockchain gaming, Ethereum is dying, as huge costs and inhibitions are driving game developers to alternative networks. Here are the top 5 blockchain games you’ll find somewhere other than Ethereum.

5. KittyCash (SkyCoin)

Like everything surrounding the Skycoin ecosystem, KittyCash is a bit of a head scratcher. At the surface level, the game appears poised to be somewhat of a CryptoKitties knockoff, but a deeper dive suggests there have been several months of fruitful development. Upon launch, players will, similarly to original kitty game, collect and trade virtual cats. However, KittyCash also plans to offers leveling and care systems for each player to interact with and nurture their virtual pet, kind of like Tamagotchi on the blockchain. Currently, players who join the Telegram and interact with the devs can reserve a free kitty. The game also plans to pioneer the Obelisk feature, which grants every node on the network their own blockchain.

4. Rare Pepe Party (Bitcoin)

Rare Pepe Party is the PEPECASH-based trading card game that always seems to be just around the corner. When the game is released, players build decks out of cards minted with PEPECASH via the Counterparty (XCP) protocol upon the Bitcoin blockchain, where they can compete against one another or in a single player story mode in a Hearthstone-like card game. The game will feature booster packs, which will include a number of Rare Pepe assets that are only to be circulated via the game itself. There are currently plans to incorporate Lightning Network functionalities, too.

If Rare Pepe Party releases, it will be one of the greatest blockchain games ever seen. Rare Pepe enthusiasts, who have been waiting for over a year, remain hopeful to this day. Developers still appear to be active, so fingers crossed for RPP.

3. Huntercoin

Huntercoin is the true grandfather of blockchain gaming. The blockchain-based MMO is also the longest-running blockchain game in existence, with over four years of continuous activity. In Huntercoin, players organize into teams and compete across the terrain to collect coins (HUC) as they continuously generate with each block. Huntercoin represents the first and only existing Human Mining blockchain game- the block rewards themselves are primarily distributed as earnings to players. Even to this day, players are competing to earn hundreds and sometimes thousands worth of HUC every single day.

2. Steem Monsters (Steem)

Steem Monsters is the first blockchain game to pick up steam (excuse my pun) on the Steem network. It is a collectible card game with mechanics that seem to draw inspiration from Magic: the Gathering. The game is currently in a crowdfunding phase, where supporters can purchase card backs to be used in the gameplay as it is released.

What makes the game so enticing, more than the gameplay itself, is its nature as a Steem-incubated project. The Steem blockchain is unique in its autonomous funding protocols: content is incentivized and continues to grow due to the networks ability to generate coins to fund its content creators and participants at sustainable rates. The fact that this blogging platform has now spawned a blockchain game is phenomenal. The nature of Steem also means high scalability and no transaction fees for Steem Monsters, a huge accomplishment not seen through Ethereum and most other blockchains.

1. Treat Fighter (XAYA)

Treat Fighter is the pioneer game behind the XAYA network, a custom blockchain dedicated to gaming. From TrickyFast Studios, Treat Fighter is a collectible strategy game, where players craft (or bake, if you will) candy armies to complete expeditions and compete in tournaments against other players. XAYA is an evolution of the pioneer Huntercoin experiment, and currently stands alone as the only third generation blockchain in the gaming niche to provide fast, free, and infinitely scalable blockchain gaming.

As part of the XAYA ecosystem, players can expect they’ll later be able to transfer their virtual assets and achievements from Treat Fighter to other environments on the network. The game is currently in late beta, and is set to launch on October 1st. As XAYA is still undergoing its public sale on Liquid, this launch signifies great progress for the platform.

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Top 4 2017’s Bitcoin Price Predictions Completely Missing Their 2018 Mark

During late 2017’s cryptocurrency market bull run, a lot of people had conflicting opinions on where the price would head next. Although the optimism seemed warranted at that time, things have certainly turned out for the worse in this regard. The following predictions – ranked from bullish to outlandish – have not entirely come true, although the year isn’t over yet.

#4 Mike Novogratz’s $40k Score

It is not uncommon for Bitcoin price speculators to let the excitement get to them when everything is going their way. In the case of Mike Novogratz, a well-known analysts and hedge fund investor, he expected Bitcoin to hit $40,000 in 2018. Considering how the value per BTC got halfway there at one point, it is still possible this prediction will come true in the long run.

For the time being, however, most people will be happy if the Bitcoin price can hit $10,000 by December 2018. This year has not been overly positive for cryptocurrencies, as all markets quickly lost a significant amount of value in the process. It seems Novogratz’s prediction will not come true in the end, although there may be some life left in the tank before 2018 comes to a close.

#3 Missing the $60,000 Mark

Even though Bitcoin is by far one of the most resilient financial assets in the world today, it is evident the cryptocurrency will not hit $60,000 this year. That initial prediction was made by Marvin Dumont, a Bitcoin enthusiast pur sang. That prediction was mainly met by Medicalchain’s Mohammed Tayeb, albeit he envisioned a more conservative target of $50,0000. Neither of these predictions was even close to coming true in the end, unfortunately.

#2 Six-Digits Aren’t Happening

When the Bitcoin price was shooting up like a rocket in late 2017, the sky seemed to be the limit. Outlandish Bitcoin price predictions became a lot more apparent, with some experts predicting a value of $100,000 by December of 2018. While one could certainly get behind such a price point in the future, it will not be reached in 2018 at this rate. For Kerim Derhalli, it means he will have to wait a bit longer prior to seeing such a price target.

#1 BTC to $300,000!

On paper, there is a very real chance Bitcoin will hit a value of $250,000 or more in the years to come. It will not happen in 2018, nor will it happen in 2019 or 2020. Anything beyond that, however, is pretty much up for grabs at this point. Even though Ronnie Moas hopes for such a steep price target in the near future, it will not materialize anytime soon.

One thing worth noting is how Moas never said this target would be reached as early as 2018. It was considered to be a possibility, especially because of how things have evolved during 2017. As is always the case, there was a correction bound to happen in 2018, yet this one turned out to be a lot steeper than originally assumed.

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Bitcoin Magazine’s Week in Review: Making Strides Across Industries

Week in Review

Industry buzz surrounded Ethereum this week as community members await the next stage of the coin’s development. The protocol also served as the jumping-off point for a new fully regulated stablecoin.

Also in regulation, a New York judge issued a ruling this week that, if held up by a jury in court, could set a legal precedent for ICOs as securities; in other courtroom drama, the space’s longest running suit — between two of its biggest players — draws to an undisclosed close.

All the while, institutional-grade products and services continute to come to light.

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Ethereum’s Progress: Constantinople and GeminiUSD

DevCon 4 Will Set the Stage for Ethereum’s Next Milestone: Constantinople

Following November 2018’s DevCon 4 in Prague, Czech Republic, Ethereum will be due for an upgrade. Constantinople, as the hard fork is called, will implement five Ethereum Improvement Proposals (EIPs), introducing such changes as a a revamped gas scheme for transactions and reduced block rewards. To the common user, these EIPs are unlikely to cause too many noticeable changes, but they will give developers more creative and technical leeway when building DApps on Ethereum’s Virtual Machine.

Gemini and Paxos Both Launch Stablecoins on Ethereum Blockchain

Winklevoss-owned Gemini exchanged launched a stablecoin this week built on Ethereum’s ERC-20 standard. Endogenous to the exchange, which is fully regulated under New York’s Bit Liscense, GeminiUSD (GUSD) was dropped without prior disclosure or media priming. The same day, settlement platform Paxos released its own stablecoin, the Paxos Standard (PAX).

A Way in for Institutions

Morgan Stanley Eyes Bitcoin Swap Contracts Tied to Futures Prices

Morgan Stanley is reportedly working toward a way into the the cryptocurremcy market. The legacy financial institution has been developing a institutional-grade bitcoin derivative that is tied to futures prices, a source close to the matter told Bloomberg this week. While the product is ready to go to market, Morgan Stanley is waiting to launch it until investor demand increases.

BitGo Gets Approval From State Regulators to Launch Custody Service

Cryptocurrency company BitGo announced a service this week that could ease instituional access to the crypto market, upon receiving approval from regulators in Montana to operate cryptocurrency custodial services. The custody, which must endure a waiting period before it goes live, will leverage BitGo’s wallet service to manage funds for institutional investors.

From the Courtroom

Federal Judge Applies Long-Established Securities Laws to ICOs

A N.Y. State judge issued a ruling this week that, if upheld in court, could set a defining precedent for ICO regulation going forward. In his decision, the judge found that two ICOs were security offerings, arguing that the founder’s simply calling them currencies didn’t free them of this classification.

Ripple and R3 Reach Settlement in Year Long Court Case

Ripple and R3 have finally settled their year-long legal battle. The blockchain companies brokered a settlement after R3’s original suit and Ripple’s countersuit saw the two cycle through three courts in three states. The terms of the settlement are being kept under wraps.

This article originally appeared on Bitcoin Magazine.

Dogecoin Price: Bulls Regain Control as Bitcoin and Ethereum Falter

There is no such thing as a boring day in the cryptocurrency world. Even though all major currencies are suffering from a loss, it is evident the Dogecoin price is on the end. This surprising turn of events was bound to occur sooner or later, primarily because DOGE seems to thrive when the rest of the market struggles.

Dogecoin Price Rebound Kicks in

As mentioned earlier this week, a Dogecoin price reversal appeared to be on the horizon. So far, that seems to hold true, as the Dogecoin price has recovered a bit of lost value over the past 24 hours. Although the gain is relatively small, it is rather impressive when considering how the Bitcoin price, as well as Ethereum’s value, are both suffering from declines as of right now.

To put this in perspective, the Dogecoin price has gained 3.19% in the past 24 hours. This helps push the value back to $0.006361, and its market cap is on the way to hit $740m again. If this trend keeps up, it is not unlikely Dogecoin’s market cap will rise to $75m and potentially higher in the coming days. That can only happen if Bitcoin’s value doesn’t recover, though, as that appears to hinder DOGE’s price growth.

Looking across social media, it seems the opinions on Dogecoin’s price momentum are sparking new initiatives and debates. One user explained how the SEC is likely to reject another Bitcoin ETF proposal in the near future, which would send the BTC value spiraling down very quickly. Given how the SEC rejected nearly a dozen proposals a few weeks ago, it seems unlikely any other outcome should be expected first and foremost.

Whether or not the advice of going all-in on Dogecoin needs to be followed by other traders, is a different matter altogether. There are no real “safe plays” in cryptocurrency these days, unless one is willing to hold onto the cryptocurrency for a very long time. Both Dogecoin and Bitcoin present an interesting case in this regard, as they may both note some interesting trends moving forward.

On the meme front, a lot of exciting things are happening as of right now. It appears someone has replaced a Bitcoin Cash sticker at a local McDonalds with a Dogecoin sticker. Although BCH has seen its fair share of hate, this is simply a joke attempt first and foremost. Even so, one has to wonder if and when any major retailer begins accepting Dogecoin payments. McDonalds is an unlikely candidate in this regard, but one never knows what the future holds.

For the time being, things look good as far as the Dogecoin price is concerned. Although this trend may not necessarily last all that long, there is plenty of reason to be happy with the current trend. Dogecoin continues to spark a fair few debates as time progresses, which is always exciting and intriguing to keep an eye on.  The coming hours and days may prove to be crucial for this cryptocurrency.

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Blockchain App Factory Expands Offerings Into ICO’s and STOs

India-based Blockchain App Factory has announced the expansion of its offerings, releasing their new Security Token and White-label Exchange Development services.

Disclosure: This is a Sponsored Article

Blockchain App Factory details

The project already caters to over 25 clients within the blockchain space including companies like Li & Fung, an almost 120 year-old global supply chain management company that handles nearly 9 million deliveries on the busiest of days.

Blockchain App Factory recognized a need for these services due to the state of token sales and crowd raising within the cryptocurrency sector. While ICOs have become the de facto standard for ideas to raise the capital needed to realize their vision, the scene is plagued with fraud, pump and dump schemes, and exit scams.

James Harper, Director of Sales & Business Development stated,

“The present state of ICO is riddled with roadblocks because many companies lack the clarity of ICO’s purpose and the Blockchain space. And so there is a hesitancy among the institutional investors to invest in ICO, solely because of the non-regulatory compliance, lack of financial transparency and the volatile nature of the market.”

The Current State of ICOs and STOs

Many countries’ stances toward this kind of investor transactions are ambiguous as well, resulting in many institutional and accredited investors remaining wary of cryptocurrency in general.

With professional investors having the deepest pockets, this is a largely untapped source of cash flow for the cryptocurrency market as a whole. While many other companies are trying to introduce cryptocurrency exposure into traditional markets in the form of ETFs, the SEC remains an iron curtain and has denied all proposals to this date.

It seems far easier for ICOs to be groomed and compliant with regulations than to try and have the opposite achieved.

Security Tokens also have the potential to liquidate traditionally illiquid assets such as housing, equities, precious metals, and bonds. They are expected to have better legal clarity, provide more protection to the company as well as investors through stringent regulations.

James Harper, Director of Sales & Business Development went on to comment,

“Many traditional companies will delist from traditional stock exchanges to move into blockchain due to high barriers to entry and the exorbitant cost for regulatory compliance. Traditional methods of raising capital like Venture Capital, Bonds, Stocks will be tokenized. We expect real estate especially the commercial real estate will be the first movers into the STO market.”

Token sales have already raised billions of dollars for projects, and have been the source of the highest risk, highest return short-term investments. This number is likely to continue increasing in the future, alongside the potentially trillion-dollar industry of digitizing traditional assets through security tokens.

For more information about Blockchain App Factory, check out their website. To meet the team behind the project, make sure to check out their LinkedIn page. For social media updates, make sure to follow their Facebook and Twitter accounts so you don’t skip a beat.

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Top 6 51% Attacks Affecting Cryptocurrencies in 2018

The cryptocurrency industry is under threat from a lot of different angles. One of the biggest potential problems is to so-called 51% attack, which can disrupt networks in very quick succession. The year 2018 has been quite successful in this regard, as no less than seven 51% attacks have been performed successfully. The following incidents are ranked from oldest to most recent.

#6 Electroneum

The 51% attack spree of 2018 kicked off with a successful attack against Electroneum in April of 2018. This smaller altcoin was based on the CryptoNight algorithm, although the developers have made some changed in this regard ever since. A successful 51% attack affected the network for a little while, but Electroneum eventually recovered and moved on.

#5 Monacoin

The popular cryptocurrency in Japan also fell victim to a 51% attack on May 13th of this year. The currency used the Lyra2REv2 algorithm during the time of the attack, which is rarely exploited for a 51% attempt. Criminals were successful in this regard, resulting in roughly $90,0000 worth of “damage”. It is an unfortunate development, but one that shows no mining algorithm is safe from such potential attacks.

#4 Bitcoin Gold Double-Dip

May was a very busy month for 51% attacks against small-cap cryptocurrencies. Bitcoin Gold noted not one, but two successful 51% attacks in very quick succession. Over the span of four days – between May 16th and 19th- these two small attacks were performed successfully. It put Bitcoin Gold in a very awkward position, yet the currency is still going strong today.

#3 Verge

Three days after the second Bitcoin Gold 51% attack, Verge fell victim to a very similar incident. Although it was contained to just one attack, this event baffled a lot of people. The five-algorithm mining approach by Verge should make it virtually impossible to attack, yet an attacker successfully did so through the Scrypt Lyra2RE algorithms. Close to 35 million XVG was stolen in the end, further highlighting the disastrous consequences of 51% attacks.

#2 Litecoin Cash

The month of May came to close on the 31st, which is also the day when Litecoin Cash suffered from its very own 51% attack. Although few people were even aware this currency existed, the Reddit community quickly confirmed the attack was performed successfully. Another worrisome incident, albeit there is nothing one can do about it in hindsight.

#1 ZenCash

The final 51% attack of 201 – at least so far – comes in the form of ZenCash’s attack on June 3rd. It is evident these 7 attacks were performed in a two-month span, yet everything seems to have calmed down ever since. In the case of ZenCash’s attack, three double spends were performed during this attack. One side effect of this attack is how most exchanges still require a much higher number of transaction confirmations prior to crediting deposits.

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