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The Daily Tip: New Crypto Exchange Bizlato Offers P2P Trading

There’s a new digital asset exchange on the market that offers opportunities for peer-to-peer cryptocurrency trading and a variety of fiat payment options. Bitzlato is a Russian platform integrated with a P2P exchanger that features a web-based version and a Telegram bot buying and selling six cryptocurrencies. Also read: BCH Is Now Supported by a Large Crypto ATM Network in Switzerland Numerous Payment Methods Available The integration allows Bitzlato to provide users with a variety of deposit and withdrawal options including bank transfers, payment processors, credit cards and ATMs. Traders in Russia, Belarus, Ukraine, Kazakhstan and a couple of dozen other countries can use popular services in the region such as those offered by Qiwi, Yandex Money, Sberbank, Tinkoff Bank and many more. The crypto trading platform, which went live in February, is now processing trades in open beta mode. Bitcoin cash, bitcoin core, ethereum, litecoin, dash, and dogecoin can be traded on Bitzlato. Its team plans to also list the two recently launched privacy-centric cryptocurrencies beam and grin. This week Bitzlato introduced a new stablecoin for its traders. “Monolith” is an ERC20 token that comes in two variants – a 1:1 ruble-pegged RUBM and a dollar-pegged USDM coin. Monolith transactions are commission-free. The exchange charges a 0.05% maker fee and a taker fee of 0.15%. The platform maintains a multi-currency online crypto wallet and offers merchants a gateway for accepting payments in both cryptocurrency and fiat money. Do you know of any other new trading platforms in the crypto space? Tell us in the comments section below. Images courtesy of Shutterstock, Bitzlato. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post The Daily Tip: New Crypto Exchange Bizlato Offers P2P Trading appeared first on Bitcoin News.
Bitcoin News

Grin Developers AMA on 8btc: Grin is trying to be a “Better Money”

Grin, as one of the first implementations of privacy-oriented protocol Mimblewimble along with Beam, has been one of the few highlights amid the crypto winter since its mainnet went at the beginning of the year. Started in late 2016, the cryptocoin prides itself for a community-driven project that is “launched fairly, free of ICO, pre-mine or founder’s reward”. Though credited as a promising crypto, Grin coin’s endless supply has plagued a majority of potential investors, including a large number of Chinese miners. On March 14, 8btc, the earliest bitcoin social media in China, invited the development team of Grin, together with the CEO of BTC.com Zhuang Zhong, one of the earliest mining pools to support Grin mining, to hold an online AMA (Ask Me Anything) with the Chinese crypto community. Questions about no maximum cap have been heatedly discussed in the AMA. Regarding this, Grin developers stressed that “supply itself is not important, but rather the predictability of its emission”. According to Gary Yu, after 10 years, Grin will have a lower inflation rate compared with U.S. dollar. Grin: be a “better money” Q1. What’s the main pain point Grin addressees? Yeastplume: Basically, Grin is trying to be ‘better money’. Grin is well known as an implementation of the very new Mimblewimble protocol, but it’s also contains many learnings from an evolution of chains that’s come before it. A lot of the technologies in Grin are evolutionary improvements to other coins. For instance, many privacy coins are built on top of a Bitcoin-style blockchain, and the privacy features are built on top of that (sometimes as an option as opposed to being the default), which in some cases can lead to very large blockchain sizes. With Grin, thanks to Mimblewimble, the privacy is built directly into the core protocol in a very compact and elegant way that minimizes bloat. It also allows all sorts of other size and efficiency improvements, such as fast sync and node pruning. So I wouldn’t say Grin is trying to solve a particular set of pain points, but it is generally trying to improve on all aspects of running and using a privacy-based cryptocurrency. So I would say the main pain point addressed is lack of privacy in other coins. But also the reduced scalability in other privacy coins,(and lastly, I see it addressing the pain point of complexity) Q2. What’s the plan and frequency of Grin network updates in following days? Hashmap: We have reserved 4 (or 3? could be off-by-one error on my side) slots in the first 2 years (every 6 months) for potential hard forks (tweaks in Cuckaroo29 and perhaps something else consensus breaking). Each of them may or may not happen. Besides that we update the node and wallet code quite regularly, so users are advised to update to get the best grin experience. Q3. What’s the current state of Grin Foundation and the usage of raised funds? Lehnberg: We track our funding campaigns on the project website, and also track income and spending in detailed financial logs on our project management repository. We celebrate all our donors on our Friends of Grin page where a Hall of Fame was just introduced to give special recognition to the donors who have made very significant contributions to the project. That said, all donations are most welcome, big or small. And we are thinking about ways to give recognition to donations beyond just money, like for example companies who donate some of their employees’ time to work on Grin. So far, the only spends that have been signed off on has been to fund security audits of our code, and to fund developers. All funding decisions are discussed in the open. I expect that the funding efforts for the foreseeable future will focused on supporting protocol development, like for example to fund engineers. To clarify in case it’s not obvious: Grin has no foundation. There’s no company. There’s no legal identity or official organization. We explored foundations in the past and decided it did not make sense for us to have this. https://github.com/mimblewimble/docs/wiki/Regarding-Foundations Q4. In terms of compliance, what will Grin do as a privacy coin? Lehnberg: Physical cash has existed for a long time. Is cash compliant? I would say cash is neutral or indifferent to compliance. It’s not cash that needs to be compliant with a particular regulation, it’s the people and businesses that use cash. Similarly, I don’t think compliance is a matter for Grin, but for its users. Q5. Grin started late, and chose to launch in a bear market, is there any intention behind it? In addition, Grin is only listed on some small exchanges at present. Will Grin get listing on major ones like Huobi, Binance and OKEx in the foreseeable future? In other words, do you have any plans to try and gain access to these exchanges? Quentin Le Sceller: Ignotus Peverell started Grin in October 2016. So this new cryptocurrency has been developed for more than 2 and a half years. We did not specifically choose to launch in a bear market, it was just time for Grin to be launched. Regarding the exchanges, Grin team does not work directly with exchanges for listing. If you’d like Grin to be listed on one of these exchanges, I invite you to contact them. Bitcoin get Mimblewimble? Q6. There have been established privacy coins like DASH,XMR and ZEC in the market, how can you stand out from the rest? Yeastplume: Grin is 100% community funded, there’s no pre-mine or dev tax, so I think the community has more reassurance that any decisions that are made about Grin are made for the long-term health of the coin rather than short-term gains for a small group of people Q7. Grin and Beam have been around for about the same time and share a lot of similarities in technology. What does Grin team think about Beam which gets funds from venture capitalist? John Tromp: We think there’s plenty room for multiple MW implementations, and although we disagree with their funding model, BEAM is making worthwhile additions to the MW design space with an original codebase, different choices of consensus critical data structures, and experimental features. Q8. The MimbleWimble technology was first presented by the bitcoin dev team, but why don’t they adopt it themselves? Are there any difficulties in technology implementation? Quentin Le Sceller: Originally the Mimblewimble technology was created Tom Elvis Jedusor back in August 2016. Later on Andrew Poelstra presented it at Scaling Bitcoin 2016 (so I’m not sure the question is correct in stating that MW was originally presented by Bitcoin dev). So why Bitcoin did not implemented it? We don’t know if Bitcoin will ever implement MW but I’d say that it is very unlikely in the short term. Bitcoin development is very conservative. Implementing MW in Bitcoin would likely requires major changes in the code. This would also mean that all the scripting language used in Bitcoin will not work too (as MW has no scripting language). Also confidential transactions (one of the pillars of MW) are larger than Bitcoin transactions. Q9. Do you see other mainstream coins like BTC, ETH and BCH as competitors to Grin? Lehnberg: We don’t see other teams and projects as competitors. Grin is focused to become better money. This is not a zero-sum game, and I personally welcome ways to be able to co-operate and work with other projects. Grin will have a lower inflation rate compared with U.S. dollar? Q10. How can a constant inflation model guarantee Grin’s survivability in the first years? John Tromp: In coming years, emission is constant like in early history of all coins. Monero is also surviving well with continuous inflation. I think ppl will come to realize that putting an end to inflation in some distant future (2140 for bitcoin) has negligible effect on survivability. Hashmap: and it’s not really unlimited, it’s limited by time, what really matters is predictability of the supply. Yeastplume: Also, nobody has definitively shown that fees alone will be enough to secure a coin once block rewards have gone too low, which may even make Grin more likely to survive. Gary Yu: Simplicity is a big part of Grin’s design and a constant emission is by far the simplest. Other emission schedules seem rather arbitrary and there are no science or study can definitely show which emission schedule is optimal. There are studies that have shown that having zero emission after a while can be dangerous however. Short emissions schedules seem to unfairly reward early adopters. And look into a picture made by CryptoProfG For the 1st 10 years, Grin will have only issued about 54% more coins than Bitcoin (410=40 vs 44+24+12=26). This is certainly negligible compared to price fluctuation in 10 years, thinking about a 10% fluctuation often seen in just one day in current crypto market. After 10 years, Grin will have a lower inflation rate compare with US$. I really think Grin’s constant emission design is great! Q11. The inflation model directly contradicts “Satoshi’s Vision”. Will this inflation model make the “bubble” bigger and burst one day? On the other hand, the unlimited cap also discourages people from hoarding coins, so will it affect Grin demand and thus lead to the excessive supply in the market, or even dying? John Tromp: No Yeastplume: Firstly, Satoshi was an engineer or developer putting together the first iteration of a new concept. He couldn’t see into the future to know all of his assumptions were correct, nor was the inflation model handed to him on a tablet from God. As for the rest, I think those have already been answered. The supply itself is not important, but rather the predictability of its emission. So long as that’s predictable, anything can be priced in. Gary Yu: For long term, Grin has a great potential to be a much better MOE (medium of exchange) than Bitcoin, while still as a good SOV. And regarding to “Satoshi’s Vision”, the exact one is “Make better money”, not the inflation model, Grin’s solving a lot of Bitcoin’s problem, that’s why a lot of people saying Grin is Bitcoin V2.0, my personal view. Grin mining: ASIC miners vs. GPU miners Q12. Why Grin offer two coins for mining (Grin -29 and Grin -31)? What’s the intention of the design? John Tromp: To maintain competition between ASIC and GPU miners; Both sides will have certain rewards. Q13. Now there are two algorithms for Grin mining. What could GPU miners do when ASIC is rolled out in the future? Zhuang Zhong: Ultimately, Grin hope ASIC miners could emerge, and these miners are developed under the situation that the community knows about it. Considering the uncertainty of miner development, the dev team has reserved the option of upgrading corresponding protocol. Q14. Grin sees obvious decline in its hash power recently, so how can you guarantee it won’t be threatened 51% attack? John Tromp: A 51% attack only makes economic sense if exchanges hold large balances that can be double spent. With Grin being so young, such large balances should be very rare and perhaps subject to extra precaution by exchanges. Over time, as ASICs are introduced, chances of pulling off a 51% attack will naturally reduce (assuming Grin remains the biggest coin using the Cuckatoo31+ PoW). Q15. How does Grin network handle transactions and how does the nodes and miners work together? How does Grin validate the transaction and ensure its traceability when necessary? Difficulty adjustment of Grin mining and block output mechanism? What should miners notice about the difference between Grin and other GPU-mined coins ? Zhuang Zhong: 1.There is no difference between the logic of transaction broadcast and packaging with bitcoin; 2. At present, Grin cannot provide the key for audit like other privacy coins, so it is difficult to trace them. The validation transaction is still based on the UTXO model; 3. One-minute gap for next block, based on the time taken by the last 60 blocks; 4. The Grin mining software is not mature enough as other coins at present, so we need to pay close attention to the software upgrade and the adaption of the mining pool. John Tromp: Difficulty is adjusted every block, based on the time taken by the last 60 blocks, with a factor 3 dampening factor, as expressed in function consensus: next_difficulty at https://github.com/mimblewimble/grin/blob/master/core/src/consensus.rs#L261-L308 4) The Cuckoo Cycle family of PoW is very memory intensive, requiring over 10 GB for Cuckatoo31, and over 5 GB for Cuckaroo29, for optimal efficiency. It appears to favor NVIDIA, in particular the new Turing based RTX cards.3) Mobile wallet for Grin? Q16. Will Grin develop a user-friendly wallet? Yeastplume: Short answer, probably never. Grin is taking a very community-driven approach to wallets. We don’t have UI and/or usability expertise on the core team, so our focus is rather to provide tools and libraries that make life easier for anyone who wants to build wallets and other support software on top of grin… so for instance, here’s Ironbelly: https://cycle42.com/ironbelly a community-developed iOS wallet. That’s just one example there are many more out there. We also think this approach is important, because the need to parties to interact during a Grin transaction can be challenging. There are different ways of facilitating this, some of which may have privacy tradeoffs which may be acceptable to some users but not others. Rather than prescribing a particular approach, we leave it to the community to experiment with different solutions. And to add, I think seeing several community wallets is a far better sign for how popular a coin is is than having the coin developers release an ‘official’ wallet Q17. How Grin realize anonymous pay? Yeastplume: I think the best answer there would be to point anyone interested in our introduction doc, which tries to explain how a grin transaction works in as simple terms as possible: https://github.com/mimblewimble/grin/blob/master/doc/intro_ZH-CN.mdImportant to note that Grin doesn’t have addresses like other coins. All anyone can see on the blockchain is what looks like random data, and there’s no way to relate them to particular users or know what the amounts in each output are.
8BTC

In the Daily: Token Delistings, Paybear Is Savvy, Revolut and Hackers

In this edition of The Daily, crypto exchange Upbit is preparing to delist four tokens, while several projects have accused Kucoin of suggesting market making services to pump their volume and avoid delisting. Also, crypto payment processor Paybear has rebranded to Savvy, and British online bank Revolut is hiring hackers to test its systems. Also read: Quadrigacx Transfer, Tokenized Bonds, Beam Investment, Rakuten Pay Upbit Marks Tokens for Delisting South Korean crypto exchange Upbit has added several tokens – blocktix (TIX), salus (SLS), salt (SALT) and wings (WINGS) – to a category of digital assets that can be delisted in the future. The trading platform provided the reasons for its decision in an announcement published on its website. The company explained for example that Blocktix, a project to build an event ticket sales platform, has not launched any working products for a long time and is not developing. Similar conclusions have been drawn regarding Wings Dao, a crypto price forecast service, and Salus, a proof of stake coin whose low liquidity exposes it to manipulation. The salt token has been added to the list due to an inspection launched by the U.S. Securities and Exchange Commission. SEC is investigating the connection between Salt Landing Holdings Inc. and Shapeshift CEO Erik Voorhees, as well as the possibility of fraud in the distribution of the tokens during the 2017 initial coin offering. Upbit now expects to receive clarifications from the projects and if they are not satisfactory, the exchange will proceed with the delisting of their tokens. Kucoin Accused of Blackmailing Coin Projects Four token projects have reportedly been asked by crypto exchange Kucoin to pay up to $180,000 in fees for volume-boosting services. After their daily trading volumes fell into the bottom 18 percent on the Hong Kong-based platform, Jibrel, Encrypgen, Publica, and Unikrn were told there’s a quick way to recovery, The Block reported, quoting different sources. Talal Tabbaa, COO of Jibrel, told the outlet that the startup was advised in an email how to improve the volume of its crypto to avoid the risk of being delisted. “Then they recommended market making firms that would help us reach the minimum daily volumes they set for projects. I was honestly shocked at the requests they were making,” he added. The market makers were supposed to help the project reach a minimum trading volume and remain listed on the exchange. Tabbaa believes that was a proposal to conduct wash trading. “I’m 100% sure. Whenever there’s a guarantee, you know there’s something wrong,” he noted. His company turned down the $180,000 offer. The team of another project, Encrypgen, was also told how to increase its trading volume through a marketing campaign promoted by Kucoin and allegedly offered at a price of $90,000 in BTC. After the CEO of the company David Koepsell refused to pay for the service, Kucoin eventually delisted its token. Payment Processor Paybear Rebrands to Savvy Crypto payment processor Paybear, a company based in the Swiss canton of Zug, has changed its brand name to Savvy. The startup claims to be working with over 3,000 merchants. It now offers an updated version of its core merchant API called Savvy Merchants and a new Savvy Wallet with support for multiple cryptocurrencies. The company, which also says it has already processed over $10 million worth of transactions, is currently expanding its offering into the consumer market. That strategy is part of Savvy’s plans to invest into other areas that demonstrate how cryptocurrencies can be spent and used. Revolut to Hire Hackers U.K.-based fintech startup Revolut is planning to improve its cyber security with the help of a team of hackers who will be tasked with breaking into its systems. The plan is to expose potential weaknesses in order to prevent real cyberattacks, data breaches and fraud, The Independent reported. According to Paul Heffernan, the online bank’s chief information security officer, the team consisting of five computer experts will monitor security operations and browse the dark web for potential threats. “One of the responsibilities of this team is to come in and just hack all of our own systems for us,” Heffernan explained. The specialists will be hired in the next three months. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post In the Daily: Token Delistings, Paybear Is Savvy, Revolut and Hackers appeared first on Bitcoin News.
Bitcoin News

Japan’s LinkedIn Rival ‘Recruit’ Invests into BEAM Privacy Coin from Its $25 Million Blockchain Fund

A Japanese company called Recruit, which is known as the local equivalent of LinkedIn, Booking.com, Yelp, Zillow and others into a single app has announced that it has invested in cryptos. The company has invested in Beam Development Limited, the company that created the BEAM tokens. We are happy to reveal that Japanese public group, Recruit Co. LTD has invested in Beam prior Mainnet. This investment helps Beam fulfill its mission in Japan too when it comes to deploying a compliant, scalable, and confidential cryptocurrency. https://t.co/suw6uaibVt @_tanayuk — @Beamprivacy (@beamprivacy) February 18, 2019 Beam Privacy Coin has revealed that the Japanese group invested in the company before they released their mainnet and that this will the company to deploy its product on Japan more easily. According to the official information released by the companies, the investment was made at the beginning of January and it was made through a Recruit’s venture fund that is only focused on investing in the blockchain technology. The value of the investment was $25 million USD. This fund is known as RSP Blockchain Tech Fund Pte. Ltd. It is designed to deploy capital to startups that are focused on this emerging tech. The company is now interested in non-equity funds and it is already planning to organize a token sale agreement that will help with the growth of the industry. Recruit decided to invest in the blockchain technology because the company decided that confidential transactions were a key element that could private companies more interested in using the blockchain, which would help with the growth of the industry as well as to benefit the company for investing in this tech. The reports affirm that Recruit saw the revolutionary aspect of cryptos and decided to facilitate innovation while preserving the confidentiality of the transactions. However, the company is certain that this kind of technology will have to be regulated in order to achieve the best results so that no abuse is made using the technology. Recruit has made at least four more blockchain investments recently, including companies like ShoCard, bitFlyer, Veem, and Shift. About BEAM BEAM is the new token created by the Beam Development Limited team. The token is a privacy coin just like Monero (XRM). It uses the MimbleWimble protocol, which is used to cloak the transactions and mix them in a way that nobody will ever be able to determine who is making the individual transactions. Because of the efficiency of the protocol, BEAM tokens made quite a significant splash when its mainnet was launched last month. BEAM has a market cap of $7.2 million USD and it is currently down 4% in the last 24 hours. Its current price is $1.17 USD. Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 18th)
Bitcoin Exchange Guide

Litecoin Price Supported by News on Private Transactions

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex The Litecoin reached its high since Nov 14 2018 through the heavy rise last week. Currently, the crypto is trading at around $43. On H4, the price made an upmove after a long downtrend and then a convergence. The coin approached 76% Fibo, while the uptrend stopped near the upper channel boundary, which means a reversal may be near. The new short term move may still make a new high reaching 76% Fibo, or $48.12. The support is meanwhile at $35.27. On H1, the latest uptrend ended with a divergence, and the crypto is now correcting, falling to 50% and 61.80% Fibo, or $39.41 and $37.62, respectively. The overall trend is still ascending, and the Stochastic is moving to the oversold territory, which means a new uptrend and new highs are ahead. In the most in-demand crypto rating, the LTC rose to the 4th place, and, fundamentally, this may be very easily explained. The Litecoin partnered with MimbleWimble, which may drastically increase the privacy level in the network. The thing is that Litecoin Foundation starts working with Beam devs in order to implement MimbleWimble protocol, which will allow them to increase the security and privacy level. The LTC and MimbleWimble transactions are now being tested, and once the token conversion process is fully functional, it will also become available for the regular LTC users. This will make all transactions 100% private and secure. The devs are ready to share all the info regarding this project. Later, more cryptos may well go this way, too. Disclaimer Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein. Image(s): Shutterstock.com The post Litecoin Price Supported by News on Private Transactions appeared first on NullTX.
NullTX

Aspiring Crypto Exchange Beaxy Adds New Altcoin Trading Pairs in Second Round of Listings

New platform Beaxy has been vocal about their aspirations for the cryptocurrency industry, stating that they want the title of “best spot cryptocurrency exchange on the market.” To make this a realistic possibility, the platform recently had its first announcement of listings that will become active when the platform launches. In a report from Sludgefeed, the exchange’s official Twitter account posted a second round of altcoin listings to come. The post was simple, stating, “Beaxy is excited to begin the announcement of second round listings with Stratis! $STRAT @stratisplatform pic.twitter.com/CTgwYx6uQC.” The new altcoins for this second round include: Komodo (KMD) Stratis (STRAT) Holochain (HOT) Syscoin (SYS) Ren Protocol (REN) Digibyte (DGB) Ravencoin (RVN) Beam (BEAM) Sludgefeed recently reported on the first 25 coins that will be added as listed pairs on the platform almost two weeks ago. The first round of listings included well-known crypto assets in the industry, like Bitcoin (BTC), Ethereum (ETH), NEO (NEO), XRP (XRP) and EOS (EOS). The whitelisting for the upcoming token sale was listed on Paperstreet by Beaxy. This website is a compliance infrastructure platform, which often hosts coin offerings for crypto investors while hosting investor syndication services as well. The token sale is not scheduled until Monday, February 11th, though it is the best chance to get in at the bottom price level for BXY tokens before they are available for trading. Anyone that wants to pre-register for Beaxy can visit https://beaxy.com/Registration?code=Y2CTAGM4CJ. Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and EOS Price Analysis Watch (Feb 7th)
Bitcoin Exchange Guide

Litecoin’s Charlie Lee Confirms Talks With Privacy Coin Beam In Order To Use MimbleWimble

Just a few days ago Charlie Lee, the creator of Litecoin, affirmed that he was very interested in the MimbleWimble protocol. The protocol, which used by companies like Beam, is used to hide transactions in order to turn your token into a privacy coin. This could be a game-changer for LTC, so the community was hyped when he announced the possibility. Now, Lee has used Twitter to confirm that the Litecoin team has been talking with Beam about MimbleWimble and the idea to use it on Litecoin. This signalizes an effort to put scalability aside for now and to pursue privacy instead. While the company has affirmed that talks are happening, this is far from a confirmation that LTC will use the privacy technology. Also, it will not use it in same way as Beam, which implemented Switch and ElGamal commitments, while LTC is thinking about using a bulletproof version of MimbleWimble with extension blocks. Charlie Lee is not an enthusiast of how Switch Commitments with ElGamal work, so he is opting for a different way instead of this one. The idea of using the protocol was very well-received among the community, which has been interested in privacy for a long time now. If the idea actually turns into reality, there is a pretty good chance that Litecoin will start to be a more valuable asset on the market. About The MimbleWimble Protocol According to the reports, MimbleWimble, whose name is based on Harry Potter, allows the user of the token to encrypt data made about all transactions on the network, which is mostly done by blinding factors. The technology also uses CoinJoin, which is a kind of a mechanism that was specifically devised in order to combine several payments into one, which hides the transactions even more. In fact, Beam, which uses MimbleWimble, promises to be even more private and secure than popular options like Zcash and Monero, the two most high-profile privacy coins in the market now. According to its creator, it is the best storage of value in the market now. The CEO considers “sovereignty of one’s own information” to be a “basic human right”, which is why he created the token. Team has been chatting with the @vcorem and @beamprivacy team about MimbleWimble on Litecoin with Extension Blks. Pleasantly surprised that Beam has already implemented switch-commitments w/ ElGamal. It's a safety switch to protect against quantum computing breaking CT soundness. — Charlie Lee [LTC] (@SatoshiLite) February 6, 2019
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“Grin is intended to be medium-of-exchange, and Beam is intended to be for store-of-value”, says Mastering Bitcoin author

During the recent Q&A session, Andreas Antonopoulos, the author of Mastering Bitcoin, elucidated on the difference between Grin and Beam, the two cryptocurrencies that are based on the same protocol – MimbleWimble. The protocol enables the coins to make transactions without disclosing information of the amount and addresses involved in the transaction. According to the author, MimbleWimble makes space for the optimization of privacy and scaling at the same time. The protocol was introduced in 2016 by an anonymous contributor who goes by the French name of Lord Voldemort, Tom Elvis Jedusor. He said: “Immediately, an effort was made to implement this. The first effort, which started two years ago, is an open-source community project called Grin. It is primarily research focused to bring MimbleWimble to life by creating an implementation.” This was followed by Andreas stating that Grin is an open-source project and that it is crowdfunded. Additionally, the coin was not pre-mined and there was initial coin offering [ICO] and a financial model that would support the development of the project, apart from the volunteers of the cryptocurrency community. Whereas, Beam was introduced a year later with a completely different mode. The author stated that there was a foundation behind Beam and the project also has a pay-out to the Treasury. Andreas further stated that this project attracted investments from Venture Capital firms and that there was an organization that funds for the development of the project. “They have two different approaches [to governance]: one is a very grassroots, community development model that is mostly research search focus. The other one is more commercially oriented, intending to [create] a viable commercial product. Grin has a command-line interface [for Linux, OSX and Windows], which is not that easy to use. Beam has a full graphical user interface and mobile wallet, which is easier to use.” He went on to say that both the projects have different monetary models; Grin issuing 60 new coins per minute in a linear, continuous issuance schedule. On the contrary, the Beam has a monetary policy that is similar to Bitcoin, a fixed supply. “The way these are [each] advertised or described by those developing them is, Grin is intended to be medium-of-exchange, and Beam is intended to be for store-of-value […] Grin and Beam are both open-source. Initially, Beam was not open-source, but they are now both open-source and exchanging code, learning from each other.” The post “Grin is intended to be medium-of-exchange, and Beam is intended to be for store-of-value”, says Mastering Bitcoin author appeared first on AMBCrypto.
AMBCrypto

Litecoin’s Charlie Lee Announces MimbleWimble Could Be Used For LTC Confidential Transactions

Charlie Lee, the creator of Bitcoin, surprised people on Twitter recently after he said that the Litecoin Foundation was exploring the idea of using MimbleWimble in order to make anonymous transactions. The message has come in a good time, as the community manager of the Litecoin Foundation, Ilir Gashi, has recently stated that people should keep their expectations low at the moment about new privacy features and that there was plenty of work to be done in this regard. We haven't announced anything. Just letting the community know what we are exploring and seeing what people think about MimbleWimble and extension blocks. — Charlie Lee [LTC] (@SatoshiLite) February 3, 2019 Lee’s message is a breath of fresh air for the people who are interested in privacy features for Litecoin. However, Gashi has clarified that nothing is set on stone yet and that the company is currently only looking at the MimbleWimble technology in order to see if it is a good idea. Charlie Lee has also affirmed that the Litecoin Foundation was currently moving its plans ahead to solve fungibility issues of the token and that solutions could be implemented via a soft fork. About the MimbleWimble Protocol The MimbleWimble protocol was created by a developer called Tom Elvis Jedusor. Basically, this protocol inspired by the Harry Potter universe is used in many privacy coins like Beam and Grin and it has become very popular since it was launched. You can use to encrypt data associated with transactions, which could make them more secure in case someone does not want other people to know about their transactions. This protocol uses CoinJoin, a software that basically is used to combine many payments into only one, which makes them basically impossible to track as the information is encrypted. People like Charlie Lee are interested in this protocol mostly because it looks like a very scalable technology and it could even become more scalable than high-profile tokens like Bitcoin in time. However, it is simply too early at the moment to be sure whether the Litecoin Foundation will see MimbleWimble as the ultimate technology for doing what they want or not. One of the reasons that might lead for not using the technology is because, as Charlie Lee has commented before, one of the issues of using the technology is that it might require a hard fork, something that the foundation is not very keen at this moment. The Litecoin Market At the time of this report, Litecoin was the 6th largest token in the market by capitalization. It has been trading at $33 USD and it has a market cap of $2 billion USD with a volume of $750 million USD daily. Some traders have bullish expectations on the token now as it will reduce its block reward from 25 to 12,5 tokens soon, too, so it looks like Litecoin is in a good place for now.
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Bitcoin Deemed Fairest Of Them All As No Altcoin Has Had The Privilege Of As Fair A Launch As BTC

Launching a new cryptocurrency for the industry is a delicate issue. All cryptocurrencies have dealt with the frustration and criticism that comes with the distribution schedule of a coin, though the one with the fairest launch has easily been Bitcoin. The best time to get in on any innovation is by starting when the concept is still young. Though every tech does not bring enrichment to the developers, Bitcoin and most others have. There was no initial coin offering (ICO), no reward for founders, and nothing to set the precedent, but Bitcoin was highly lucrative for some of the earliest investors. In fact, these investors have been able to launch subsequent cryptocurrencies as a result of their work. Perfect examples of these investors include Vitalik Buterin (Ethereum), Charlie Lee (Litecoin), Dan Larimer (Bitshares, Steemit, EOS), Zooko (Zcash), and Jed McCaleb (Ripple, Stellar). Even though the altcoins launched soon after Bitcoin’s success, they still received criticism from the public. Zcash has a 20% mining reward, which has remained controversial, despite being used for the development of the platform. They have also been investigated for the lacking in zero-knowledge proofs that would otherwise bring more validation. Ethereum has been critiqued for their coin allocation to certain whales in the industry and has been accused of developing their tokens as securities, rather than the utilities that they are meant to be. The EOS uncapped ICO, which lasted an entire year, frustrated the community. Ripple has been the subject of plenty of debated over the validity of their decentralization, holding the majority of XRP, and the lack of evidence of Ripple’s originating activities. Grin and Beam are the newest protocols to enter the industry, and they share the Mimblewimble privacy technology that has caught the interest of many crypto enthusiasts. Apart from that, they are much different. Grin’s team is fairly anonymous, lacking in founders’ reward and pre-mine, though it still offers a community platform that lacks a leader. Beam, on the other hand, is publicly known in their team and has a founders’ reward that spurs the development of the platform. The fairness of the launch of Grin is still debatable, considering multiple factors. Incentives need to be aligned when a crypto asset is launched, which motivates the rest of the people involved the motivation to devote the work needed to the project. The incentives keep users going when the platform is suffering as well, which is much different from Bitcoin. Bitcoin supporters had none of those guarantees, so they knew the risk was high. In a post on Uncommon Core, an article titled “Grin and the Mythical Fair Launch” was written by Arjun Balaji. In it, Balaji says that “a fair launch offers equal opportunity — not equal outcome — to acquire a coin 1) over a long period of time 2) at a relatively equal price.” In the end, the writer concludes that the launch of Grin ”excels in both dimensions.” However, without any reward for the developers, finding the funds to continue working. Based on a recent report on the news site Bitcoin.com, one developer has been working to raise $63,000 but has only accumulated $25,000. Due to the setup of Beam and other projects like Zcash, there is no issue like this. While it is easy to attack the way that Bitcoin lacked support for creators at the beginning, and how the mining back then was set up for thousands of bitcoins mined at a time, no one can argue that Bitcoin survives. Without the foundation of Bitcoin originally, there would not be any of the thousands of cryptocurrencies that are around today.
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Grin Falls Below $7: Could it Recover?

Since its January 15th mainnet launch, Grin began trading momentarily above US$250, fell all the way to $2.50, climbed up to $15, and fell once more below $7. All eyes have been on this exciting project, and speculators across the space are itching to know: where does it go next? While its initial trading in the three figure range may have been a blemish more than anything else, the rise back to $15 was legitimate, and propelled by tens of millions in daily volume despite a lack of access on top exchanges. Fueled primarily by markets on Hotbit and Bitforex, optimists saw $15 as just the beginning, while skeptics argued that GRIN would never see that price again. At current prices of US$6.85, GRIN carries a respectable market cap of roughly $9 million. With daily volume continuing to exceed $10 million, interest in GRIN remains among the highest of all coins. To get a better understanding of why GRIN has made such a buzz, and where it might be headed next, an understanding of the basis of the project must be established. What is Grin? Grin, alongside recently launched Beam, represents a pioneer of MimbleWimble technology. MimbleWimble is a novel approach to distributed ledger technology: a lightweight blockchain alternative that eliminates all unnecessary bloat in favor of maximum privacy and scalability. Grin is unique from other cryptocurrencies in that it operates in the absence of addresses, transaction amounts, and transaction histories. Additionally, it was developed by volunteers in the absence of an ICO since soon after MimbleWimble was first introduced in 2016. Much of the initial hype around Grin came from the support of prominent Bitcoin Core supporters, who have suggested that Grin represents one of a select few instances in which an altcoin represents a worthwhile initiative. This support was highlighted best by the decision by Theymos for Grin to be accepted on Bitcointalk, the first currency accepted beyond Bitcoin. Tokenomics If you stop your analysis without looking at Grin’s tokenomics, it probably looks clear that it still has room to appreciate in value significantly. However, the emission schedule of Grin represent a monumental dilemma for traders and, even more so, for long term holders. The maximum supply of Grin is infinite, and its emission schedule is constant. 60 Grin is awarded every block, and with block times fixed to one minute, that represents one new Grin minted every second for eternity. Per day, that translates to 86,400 new Grin every day. At $6.85 per Grin, almost US$600,000 in new money needs to enter Grin every day just for the price to remain constant. If, for the next 24 hours, there was no net change in the money invested in the ecosystem, Grin would fall to $6.43. As a point of reference, US$6.3 million needs to enter Bitcoin every day to offset the introduction of new coins from block rewards. Grin would match that number at a price of $73 per coin. Alas, the calls for $300 Grin do seem highly unlikely. It’s also important to keep in mind that for every day that passes, more money needs to be put towards buying Grin for the price to increase. For example, for Grin to hold at $6.85 by end of year, the market cap would need see growth of over US$195 million. Alas, traders and speculators must weigh the trade-off between technology and tokenomics when handling Grin. With such an intense emission schedule, one must feel very strongly about what Grin brings to the table as a prerequisite to accumulate it. US$15 per Grin certainly isn’t an insurmountable feat, but that amount of growth is a greater obstacle to Grin than most other cryptocurrencies. The post Grin Falls Below $7: Could it Recover? appeared first on NullTX.
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Crypto Market Update Jan.29: Crypto In Red, Despite Optimism Following BitTorrent Fundraising

2019 began with a mixed trend. Bitcoin and other cryptos are still around and creating great interest among the public. The large media bodies continue to monitor developments in the field regularly. In addition, the sector’s regulatory framework continues to take shape, and large and institutional entities continue to examine the possibilities for entry into the crypto market, despite the decline in the price and trading volume, and the instability of the market. The BitTorrent (acquired by TRON), ICO made use of the Binance Launchpad platform to issue a token for use on the platform, and only 600 investors managed to participate in the offering, which is not even 0.6% of BitTorrent’s users. The sale, which reminded us of the FOMO that can be manufactured by an ICO, was completed within fifteen minutes and was made possible through the BNB or TRX only, which affected trading in those cryptocurrencies as well. Grin and Beam generated a lot of interest among traders, who seem to have lost interest in the rest of the market. These are players who already hold Bitcoin and other cryptocurrencies. If the investments came from new players who are enthusiastic about the technology and the innovation brought by the aforementioned Alts, we would have seen demand for Bitcoin and a greater impact on the market as a whole. A little more of the action this week was from a post by Vlad Zamfir, a well-known Ethereum developer. He opened a front against what he calls the “Szabo Law”, which asks that no changes be made to the protocol unless changes are necessary for specific technical purposes. The issue generated heated debate on the Web. The volume of trading closes exchanges, causes problems of liquidity, creates difficulty in raising new capital or relying on fixed income, and causes the collapse of new startups. In addition, tightening the regulatory ropes and claims made against many companies that raised capital from the public froze the market until further notice. Crypto News VanEck-SolidX Bitcoin ETF Proposal Withdrawn: What does this Really Mean for Bitcoin? The much-anticipated CBOE Bitcoin ETF application which was awaiting approval has been shockingly withdrawn following the US government shut down. Bitcoin Does Latin America: LocalBitcoins Volume Has Kept Increasing Drastically Since 2017. Amid an economic crisis in some Latin American countries, reports from Coin Dance show that citizens in affected countries are trading high on Bitcoin via LocalBitcoins. The Binance KYC Data Breach: The Hacker Confirms the Attack. An anonymous hacker known under the pseudonym “ExploitDOT” has released more proof of a recent data breach at Binance and three other major crypto exchanges. New Findings Claim that Ripple’s Market Cap is Only $6.1 Billion (Overstated by 48%). Reports from a crypto research company suggest that the XRP market cap, currently about $13 billion, ought to be around $6.9, but Ripple refuted this by stating that its correct market cap should be $31 billion. Jeff Schumacher at Davos: Bitcoin Price Will Go To Zero. Speaking at the World Economic Forum meetup in Switzerland, Jeff predicted the fall of the world’s largest cryptocurrency. Liqui Exchange – The End: Users are Requested to Withdraw Their Funds. Following a policy change, the Ukrainian crypto exchange announced that it has come to the end of the road, hence shutting down its platform Charts This week we have chart analysis of Bitcoin, Ethereum, Ripple and BRD – Read more here. The post Crypto Market Update Jan.29: Crypto In Red, Despite Optimism Following BitTorrent Fundraising appeared first on CryptoPotato.
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Breaking: NASDAQ is Testing Trading of a Bitcoin-based Product

Coinspeaker Breaking: NASDAQ is Testing Trading of a Bitcoin-based ProductIt’s great news for Bitcoin (BTC) enthusiasts and the crypto community as Nasdaq is possibly testing the trading of a Bitcoin-based product. Cryptopolis, a quantitative analyst at StrongMarket, tweeted about purchasing one BTC on the Nasdaq platform through his TD Ameritrade account.Cryptopolis also noted that the BTC trading was available since April 10 on the Nasdaq platform.BREAKING: BTC is now being traded on the Nasdaq! I bought one BTC through my TDAmeritrade account! According to the chart it started trading April 10, 2019!! Other digital assets are soon to follow!! 🚀🚀🚀 pic.twitter.com/1VgE1Whoa4— Cryptopolis (@cryptopolis_x) April 22, 2019As we can see, Bitcoin (BTC) was trading against the U.S. Dollar under the ‘CXERX’ ticker symbol. However, Cryptopolis laters spoke with the support team of TD Ameritrade to clarify this matter. It turned out that this was just a test on Paper Trading platform meaning that you can just simulate a Bitcoin (BTC) buy, but not actually purchase it.However, the support denied giving additional details regarding this matter. In another tweet, Cryptopolis wrote:“UPDATE: According to TDAmeritrade support – it’s not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said “I’m not able to speak on it” -They did not know what CXERX is. Strange… But something is going on for sure!”Nasdaq’s Bitcoin Trading to Trigger Next Bull RunUndoubtedly, the availability of Bitcoin trading on the Nasdaq platform could trigger the next bull-run in the crypto market. It would be huge news for the overall crypto community as this could lead to a flood of institutional money flowing into the crypto market.Since long, Nasdaq has been to step in the crypto market through one or the other route. Nasdaq already provides several crypto exchanges with real-time information on two cryptocurrency indices – Bitcoin and Ethereum. If the world’s second-largest stock exchange allows BTC trading, it will open the floodgates for huge investor participation.Furthermore, Nasdaq is most likely to launch its Bitcoin futures contracts along with VanEck in the first half of 2018. A Bloomberg report released in November 2018 read:“Nasdaq has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts, the people said. The New York exchange operator, which was first reported to be eyeing Bitcoin futures last year, wants to allow trading in the first quarter of 2019, one of the people said.”Nasdaq is most likely to be accompanied by another big player – Bakkt – who is planning for Bitcoin futures launch ahead this year. The year 2019 is likely to bring some of the most interesting developments in the crypto market.Since the beginning of April 2019, Bitcoin and the overall crypto market has created a fresh new hope after months of massive crypto winter. Bitcoin price has surged by nearly 30% in the last three weeks as it sets its new target for $6000. Similarly, the overall market has added $40 billion since April 1, as altcoins majorly participate in this month’s bull run.Breaking: NASDAQ is Testing Trading of a Bitcoin-based Product
Coinspeaker

BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
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USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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