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MaidSafe Coin Guide [Corrections, do not publish]

What Is MaidSafeCoin? MaidSafe is a decentralized blockchain-based internet project created in 2006 by Scottish engineer David Irvine. MaidSafe’s concept predates Bitcoin by several years, although it’s still in its alpha phase at the beginning of 2019. When completed, the SAFE network will work similarly to the TOR network, meaning that Internet content is distributed and accessed in a P2P mesh network. MaidSafecoin is the temporary cryptocurrency coin used for the alpha and beta versions of the SAFE network, which stands for Secure Access For Everyone. MAID itself is an acronym for Massive Array of Internet Disks. The SAFE network was first envisioned in 2006 by MaidSafe to create a decentralized internet that’s safe and fair for everyone. With the FCC dismantling net neutrality in 2018, this goal may be more important than ever. Using a decentralized internet resists censorship, as servers are harder to find. It’s why pirates switched from the centralized servers of Napster to the decentralized Gnutella and BitTorrent protocols. Instead of mining, SAFE network users would be sharing system resources just like they control upload and download speeds in today’s BitTorrent clients. However, instead of just network bandwidth, users will also be sharing disk space, memory, and CPU processing power. To see if MaidSafe can build the decentralized internet Richard Hendricks has been dreaming of for years, let’s start with a breakdown of the MAID and SAFE coins, and the project’s crypto market performance. MAID Cryptocurrency Summary MAID has a circulating supply of 452,552,412 as of March 24th 2019. Its peak price so far was $1.12, which occurred on January 2, 2018. The MaidSafeCoin ICO presale occured on April 22, 2014 and 10 percent of the total MAID supply was released to the public, raising $8 million worth of BTC. An additional 15 percent was withheld by the founding development team. The total supply is approximately 4.3 billion MAID, which is determined mathematically by each coin file being 32 bits, leaving that many possible number combinations. This is true of the SAFE coin, which is a file, but MAID in its current iteration is a cryptocurrency. Instead of mining, MaidSafe uses the term “farming,” and there’s a difference between mining and farming. It’s called Proof of Resource. Instead of solving complex algorithms, farmers essentially act as micro internet servers, storing data for users in vaults. As users access data, farmers are rewarded with SAFE for providing it first. We’ll talk about how this system is encrypted and secured more below. The distribution system uses a random coin generator, and if the coin generated is unowned, it becomes yours. Vault Elders (the most trusted vaults by consensus) then perform required governance of the SAFE network. This is similar to a Delegated Proof of Stake (DPoS) consensus model Instead of a public ledger, Safecoins are actual files on the network, and the PoR and DPoS hybrid consensus determines ownership of each file. MAID is traded on HitBTC, Poloniex, and Cryptopia, along with the OpenLedger DEX. Just under $1 million MAID is traded on a daily basis on cryptocurrency exchanges, and its trading pairs are BTC, ETH, and USDT. MAID can be stored in the OmniWallet until it’s converted to SAFE upon the mainnet launch. ICO token holders will receive 10% of the SAFE supply, though an additional 5% will be given to the founders and shareholders of the project, meaning they will own one third of the initial supply.   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MaidSafeCoin(MAID) Price $0.127 Market Cap$57,586,527.01 #ccpw-ticker-32273 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-32273 #ccc-chart-block .exportBtnTop, #ccpw-ticker-32273 a.tabperiods.tabperiods_active, #ccpw-ticker-32273 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-32273 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-32273 .coin-container:after, .ccpw-container_four #ccpw-ticker-32273 .coin-container:after {border-color:#ccc !Important;}   Decentralizing What’s Already Decentralized If you’re not a networking wizard, you may not be aware that both the internet and cloud are just physical servers somewhere storing information. Facebook is just a website to you, but to Facebook, it’s a series of data centers and server farms – huge buildings housing tens of thousands of computer servers. The problem with today’s Internet is similar to the problem with analog phone lines before the proliferation of the mobile phone. Back in 1982 a consent decree initiated by a 1974 Department of Justice lawsuit broke up a monopoly AT&T as a telephone service provider had over the Bell Operating Company, which controlled the physical telephone lines. The breakup resulted in the creation of seven independent companies, one of which ended up purchasing 4 of them and taking over the AT&T brand. The remaining three are owned by Verizon and CenturyLink, who are using high-speed DSL service on those same lines to compete today with ISPs using fiber optic cable lines. Comcast Xfinity, Time Warner, Charter, Cox, and others are fighting for a monopoly over our internet content, and the FCC’s net neutrality repeal gives them the power to control bandwidth and create pricing tiers for an internet system that looks more like traditional cable. VPNs and distributed P2P mesh networks like TOR are proposed solutions to stopping these internet service providers from once again controlling our airwaves. Even if net neutrality is preserved, we’re not out of the water. A small handful of companies, like Amazon, Microsoft, and Google hold most of the Internet’s information on their servers. They’re the ones with the most to lose if the ISPs gain control of the Internet. A P2P internet can save us from both the hardware and software tech giants truly controlling our internet. This is what MaidSafeCoin is tapping into, but if it’s prepared for the task, why has it been under development for twelve years with no working product yet? The proposed SAFE Network mainnet will need mass adoption to quickly reindex the entire internet, something Google and others have long been working and have decades-long head starts on. Mesh networking and the PoR blockchain work because, as you know if you’ve ever downloaded a torrent or Gnutella file, only small pieces from each file need to be stored on each node – just enough to keep what’s in front of you loading fast enough to not notice it. It’s a sharding principle similar to how movie files were distributed in RAR directories on forums long before high-speed internet or even Napster. And in piracy is where we see the inherent problem of MaidSafeCoin that kept it stuck in development limbo for over a decade. Even if it works flawlessly, it’ll face the same paradox the TOR browser and every other proposed P2P mesh network has: network speed and reliability is dependent on adoption, which is dependent upon network speed and reliability. It’s the opposite of the Bitcoin and Ethereum bottlenecks, where mass user adoption bogged down the system. And one can only wonder if MaidSafe has the marketing power to succeed where soooooooooooooooooooooooooooooooooooo many others have failed at before. MaidSafe Summary Although created before Bitcoin, MaidSafe is clearly hoping hitching a ride on the blockchain bandwagon will lead it to success. The idea of a mesh internet isn’t new – TOR and torrents have used distributed and decentralized methods for years. MaidSafe simply tokenized the process and repacked it into these key ingredients: MaidSafe (the company) created MaidSafeCoin and MAID token as temporary placeholders during the alpha and beta phases of its SAFE network and SAFE cryptocurrency coin. Safecoins are used to tokenize transactions on the P2P distributed mesh internet residing on the devices of SAFE network users. Each user connected to the SAFE network can choose to become farmers that store information in vaults to present to users with available computing resources in exchange for Safecoins. Tokenizing the distributed internet concept is the new ingredient MaidSafe brings to the table. It’ll be interesting to see if the development team can pull it off. It’ll take strong technology with a lot of marketing dollars behind it. This isn’t a SAFE bet by any means, but if they pull it off, this crypto founding team will have it MAID. The author is not currently invested in any coin, token, or asset mentioned in this article.   Join the conversation on Telegram and Twitter! The post MaidSafe Coin Guide [Corrections, do not publish] appeared first on Crypto Briefing.
CryptoBriefing

Yosemite X Announces New Open Source Blockchain With No Cryptocurrency Coin Needed

Yosemite X has recently announced the launch of their public blockchain. What gives them an edge is that they did not rely on the need for a native token. According to the claims made, their goal is to resolve the hindrance caused by volatile tokens, which is known to result in poorly operating businesses. To prevent the aforementioned, the team trusts that stablecoins is the way to go (i.e. tokens that are pegged to government money). This has supposedly been done through the blockchain’s built-in YOSEMITE Standard Token Model, which ensures that the token is interoperable. As for applicable transaction fees, block producers, who are elected in via the Transaction-as-a-Vote (TaaV) protocol, are said to pick stable coins as “Transaction Fee Tokens,” as noted in Yosemite’s technical whitepaper. What is the intended purpose of their respective public blockchain? Based on what has been shared, the blockchain has supposedly been designed to serve as a smart contract for financial and business needs. Some of its notable features include the Proof-of-Transaction (PoT) mechanism, delegable transaction fee payment, KYC/AML support and account recovery and scalable blockchain architecture. News outlet, Crypto Ninjas, has also reported on this unique endeavor, and they have since shared the idea for the Yosemite Public Blockchain in the Founder, YT Kim’s perspective (https://www.cryptoninjas.net/2019/02/09/yosemite-x-releases-public-blockchain-without-a-native-cryptocurrency/). As per YT Kim, blockchain has immense potential in revolutionizing financial systems, “however, the existing public blockchains are impractical for business entities to implement their blockchain-based services, due to high price volatility and unfair distribution of cryptocurrencies, and blockchain scalability issue.” Hence, Yosemite’s rather thought-provoking approach. Interestingly, Yosemite has also worked on a blockchain-based credit card, which has been deemed free of middlemen and transaction fees. Based on its description, the Yosemite card provides enhanced security compared to accepted credit cards within society. Namely, it uses a “patented QR code + One-Time-Password (OTP) simultaneous reading technology” that prints the QR code onto the physical card. To learn more about Yosemite and how they plan to resolve common flaws in public blockchains and societal norms in relation to the financial sector, go to: https://yosemitex.com/
Bitcoin Exchange Guide

What is a stablecoin and how does it work? A guide to fiat-pegged cryptocurrencies

Stablecoins in cryptocurrency seem to hold the key to bridge the gap between the benefits of cryptocurrencies and the somewhat more stable nature that fiat currencies offer. The security of a non-volatile digital tender which is both backed up by a national currency and by blockchain sounds like a deal that cannot go ignored. So how do stablecoins work? What are the types of stablecoins? And what’s the catch? What is a stablecoin? Simply put, a stablecoin in cryptocurrency is a token which has its value pegged to the price of a national currency in order to combat its volatility. There are several types of stablecoins, and numerous options and different projects which offer the same fundamental idea of a cryptocurrency coin which has more stability than Bitcoin or altcoins. What are the types of stablecoins? Stablecoins exist in three different forms: Fiat-collateralized Cypto-collateralized Non-collateralized Fiat-collateralized stablecoins These are the cryptocurrencies which are pegged to a national currency, such as Tether which is pegged 1:1 to the US Dollar. This is the easiest way that a stablecoin can be developed. As the name implies, fiat currency needs to be deposited as collateral for a fiat-collateralized stablecoin to exist. From there, the tokens are issued at the 1:1 ratio against the collateralized fiat currency. This is a simple method but needs regular auditing and a financial custodian to oversee that the token remains fully collateralized – which presents a disadvantage of the token being centralized by a party. Crypto-collateralized stablecoins In the same way that a fiat-collateralized stablecoin has fiat tender as collateral, a crypto-collateralized stablecoin has cryptocurrency locked up as collateral, such as Ethereum. In order to compensate for the volatility of the collateralized cryptocurrency, a security pledge is required by the stablecoin. This means that the coin will not have a 1:1 ratio towards the collateral crypto; it will look more like a $2 USD pledge for every $1 USD stablecoin issued. Non-collateralized stablecoins There are stablecoins which make use of a Seigniorage Shares system. Seigniorage is the difference between the value of money and the cost of printing it. Non-collateralized stablecoins rely on a mechanic algorithm which changes the supply volume as needs be in order to maintain their price. Through the use of smart contracts, the stablecoin will sell if the price falls below and pegged currency and will supply more tokens to the market if the value rises above the pegged currency. Stablecoins List The best stablecoins With all this in mind, you might be asking are the best stablecoins. While we can’t answer that for both legal and subjective reasons – we can offer a list of the best-known stablecoins. There are numerous stablecoins in circulation, so we’re narrowing this down to the top six related to popularity and trading volume. Fiat-backed stablecoins: Tether – USDT Tether is arguably the most well-known stablecoin in today’s cryptocurrency market. ‘Tethered’ to a ratio of 1:1 to the US Dollar, Tether stands as one of the most successful stablecoins to see adoption from cryptocurrency exchanges looking to use the token as the go-to currency when direct USD transactions are not possible. This could owe to factors such as country regulations. One of Tether’s key benefits is that it maintains its $1 USD value and investors and traders can take advantage of this to avoid paying exchange fees and transaction costs. Although Tether has advantages, such as offering a token which has absolute stability with the US Dollar ratio, the stablecoin has also attracted negative attention from critics related to the centralization of the token, the transparency, and the unfulfilled promise of an official audit. But Tether from Coindirect. TrueUSD – TUSD While Tether might have the badge of honour as the first stablecoin to make its mark, TrueUSD is a fiat-collateralized cryptocurrency which has gained more trust from critics. The stablecoin has managed to gain a reputation for transparency through regular audits, fully backed collateral, and fulfilled legal requirements for the USD-peg. TrueUSD holds partnerships with numerous banks and trusts in order to steer away from the centralization status that Tether has. Owing to smart contracts in place, TrueUSD has no method of accessing the funds – ensuring complete decentralization. Crypto-backed stablecoins: MakerDAO: MakerDAO aims to utilise the native Maker tokens and the Ethereum blockchain in order to minimize price volatility. In order to collateralize the stablecoin, MakerDAO leverages Ethereum using a smart contract and the Ether collateral gathers into something called a Pooled Ether (PETH), which allows the smart contract to generate MakerDAO’s DAI token and interest over time. The interest gained is called the “stability fee” which means that users will need to pay back the same amount of DAI if they want to withdraw Ether from the contract. Non-collateralized: Basis (formerly known as Basecoin): The ultimate goal of Basis is to project the token to an index-offering, wherein Basis will aim to ensure its stability by pegging its value to a multitude of assets. Further to this, the project is hoping to leverage two other currencies in a bid to maintain its supply. Token holders can sell their tokens for bonds to gather interest over time on their investment, and Basecoin Shares are issued when the stablecoin’s supply must be expanded. Exchange-backed stablecoins Cryptocurrency exchange tokens are developed and exist to serve their supporting cryptocurrency exchange. There are exchange-driven stablecoins such as the Gemini Dollar which offer Gemini users reduced fees when trading with the exchange’s native token while ensuring that the Gemini Dollar is pegged at a 1:1 USD ratio. Are stablecoins good? There have been arguments made both for and against stablecoins. Advocates for stablecoins have argued that these tokens act as a perfect model in order to fulfil the key elements of what makes up a currency. This means they offer a medium of exchange, a store of value and a unit of account. Furthermore, stablecoins offer the benefits of the blockchain based tender while avoiding the inherent volatility of cryptocurrencies. In this case, stablecoins could be the next step towards widespread adoption, which is ultimately beneficial for the cryptocurrency industry. The disadvantages of stablecoins On the other hand, others have argued that currencies such as the US Dollar are not good collateral owing to their own inflationary nature. Because of this, the stablecoins are not a sustainable solution to the very same problem at Bitcoin is trying to solve. In addition, it could be said that because the fiat-pegged ratio is so blatantly derived from a national tender, the stablecoins very well be governed by the nation’s legal financial laws. Buy stablecoins Where a person can buy a stablecoin depends on which stablecoin they want to buy and in which area they live. The New-York based exchange Gemini would be the best bet, of course, to buy Gemini tokens. The first step would be to decide whether you want a fiat-collateralized, crypto-collateralized, or non-collateralized stablecoin and then choose which token is most tailored for your trading needs. Tether can be purchased at many cryptocurrency exchanges, such as Coindirect. The post What is a stablecoin and how does it work? A guide to fiat-pegged cryptocurrencies appeared first on Coin Insider.
Coin Insider

How is Popular Messaging App Kik and Its KIN Cryptocurrency Coin Developement Coming Along?

KIN is a token that was initially running on Stellar and Ethereum. However, it has since shifted to its own unique fork of the Stellar Lumen network. The new Kin blockchain runs on a federated model. What is Federation? A federated network is a form of a permission-based model where the validators are limited to those inside the federation. It does not allow just anyone who has online access to verify the blocks or a company to have total control. Instead, the verification is done via a node of validators. Future and existing members of the federation are apps that build the kid-powered experience. They may also intend to integrate into Kin in the future. In future, the other members of the federation ecosystem such as wallet services and exchanges will be able to run a node on the network. The Ecosystem Growth In Q4 2018, Kin launched the Kin experiences inside Swelly. A feedback exchange platform that gives users of the Swelly app on iOS and Android the chance to earn and spend their Kin for an opinion. They also revealed that a pair of new partners including Tapatalk and MadLipz had signed on, which will have the potential to onboard millions of futures users of the ecosystem. Kin Activities Kin has also collaborated with DoSomething.org to create a fun poll experience inside Kinit during the US elections. After the poll, users earned Kin and they were directed to register so that they could vote if they had not done so already. Kin also launched admin tipping inside Kik, which is a P2P feature that lets users send Kin to others inside the app. With this feature, users can take part in public group chats that reward group administrators for enabling a positive and useful user experience inside the application. As a result, it keeps the groups productive, safe, and engaging. This launch took place soon after Kik released their chat themes. It is the first experience powered by Kin for all its Android users. Issues of Centralization and Supply In its first ICO, KIN managed to raise $70 million. However, it did not go down without some issues. This was because the project only sold 10% of the tokens. Thus, it remained in control of a huge amount of the tokens. The funds are held by the KIN Foundation and major investment funds such as Blockchain Capital, Pantera Capital, and Polychain Capital. The implication is that the whales are in charge of the Kin ecosystems. Thus, the ecosystem is highly centralized, which goes against the principle of the thing. It Looks Good on Paper In general, the project looks awesome on paper. However, it is questionable how many of the user numbers been given out are actual users that are active who will actually switch from using fiat to crypto. There is also an issue of the circulating supply. Thus far, there is 756 billion in circulation while the Kin foundation and Kik hold 1.2 trillion respectively.
Bitcoin Exchange Guide

TRON in 2019: What TRX Cryptocurrency Coin Expectations Will Unfold From Justin Sun’s Network?

What Can Be Expected From TRON In 2019? 2018 had been an eventful year for TRON. Even though it has not made their investors too rich till now, most people have hopes that it will in the future. Justin Sun and the Tron Foundation claim that Tron is able to do everything that Ethereum can do, but without any scalability issues that are currently plaguing the Ethereum’s platform. The factor triggering the rise of Tron may be the fact that the TRON Foundation and founder Justin Sun acquired the BitTorrent platform in June 2018. At the time, it had propelled TRX upwards by 17%. BitTorrent now is slated to sell its token on the Binance Launchpad. The network has also acquired over 1 million user accounts in just over six months. It now boasts of more than 80 dApps, within two months of launching the TRON Virtual Machine and smart contract functionality. In a Forbes interview Sun said: “Our next steps in 2019 would be Project Atlas, DApps, community and tech support. In particular, support is very important to us as TRON is community oriented and consumer-focused.BitTorrent Web is another step towards more user acquisition, and thus user empowerment. Lastly, we’re looking at a partnership with established companies, such as Swisscom and Oracle to accelerate the decentralization of the Internet.” Popular crypto influencer Tommy Mustache sums up Sun’s ambitions in his Tweet. He thinks that Sun being able to accomplish so much as such a young age makes him a force within the community to reckon with. https://twitter.com/tommyp408/status/1080534579939659776 The company will have ambitious goals for this year. Two of their most ambitious goals are; TRON to become the 4th largest crypto by market capitalization and to have an ecosystem larger than that of Ethereum. Sun also mentioned these same goals in a tweet right before the end of 2018. https://twitter.com/justinsuntron/status/1079796067854499840
Bitcoin Exchange Guide

CrypticCoin (CRYP) Key Advantages and Ongoing Achievements Further Advance the Cutting-Edge Cryptocurrency and Enhanced Privacy Coin

MALTA, Dec. 31, 2018 (GLOBE NEWSWIRE) -- via CryptoCurrencyWire – CrypticCoin Foundation today announces recent highlights and future milestones for CrypticCoin (CRYP), a decentralized open-source cryptocurrency coin on its own blockchain that connects the best privacy and anonymity practices with lightning-fast transaction speeds. CrypticCoin is not dependent on any other platform. CrypticCoin is its own blockchain ecosystem. CrypticCoin is a cutting-edge cryptocurrency and enhanced privacy coin that allows its users to engage in direct transactions with higher levels of privacy and security as well as speeds that are faster and cheaper than credit and debit card transactions. CrypticCoin includes features such as the ZeroCash / Zcash (ZEC) protocol and many other enhanced and mixed security/privacy features. CrypticCoin (CRYP) is now trading on four top exchanges listed on https://coinmarketcap.com/currencies/crypticcoin/#markets. Feel free to go to one of these premier exchanges to get CrypticCoin now and become an early adopter today! CrypticCoin was born on January 18, 2018, when there were roughly 7,598,607,351 humans currently living on planet Earth. This became the basis of the max supply (7,598,607,351) of CrypticCoin, which would equate to about one CRYP for every person on Earth. Key milestones achieved during this inaugural year of CrypticCoin are highlighted below. CrypticCoin was successfully launched worldwide as an FCO (Free Coin Offering) and not as an ICO (Initial Coin Offering). This is very similar to the way Bitcoin (BTC) was launched as an FCO (Free Coin Offering), yet CrypticCoin (CRYP) is faster, more private and trading at a fraction of the price of Bitcoin. Being an FCO, CrypticCoin and its global community have accomplished much as a community-driven coin without an ICO. There is no universal solution that provides unsurpassed levels of confidentiality, fast transaction speeds, and use of minimum competing resources. CrypticCoin addresses this problem with its own unique solution. CrypticCoin has released secured wallets on multiple operating platforms and uses Simple Payment Verification (SPV) technology for superfast transactions, which are even quicker than credit and debit card transactions. With CrypticCoin, users can choose public or private transactions. Public transactions are recorded to the CrypticCoin public ledger unchanged with the sender's and receiver's public CrypticCoin addresses and the amount of CRYP transferred. Private CrypticCoin transactions are recorded to the public ledger using a one-time public key that is generated by a special algorithm so that when analyzing the blockchain, these transactions are not traceable and cannot be mapped to another transaction.Anonymous payments provide users with the highest levels of privacy while conducting ...Full story available on Benzinga.com
Benzinga

What Is Waltonchain Network?  Introduction to Waltoncoin WCT Token

What Is Waltonchain? Waltonchain is a blockchain that tracks radio-frequency identification (RFID) data throughout the supply chain. Waltoncoin (WTC) is the native cryptocurrency token of the mainchain, and users can create their own tokens on subchains. Supply chain management is one of the most prominent and obvious uses of blockchain technology. Everyone from FedEx to Walmart is working on blockchain solutions to increase efficiency by reducing costs and friction. Projects like VeChain Thor are deeply focused on the problem too, even including NFC and QR codes, along with expanding into other enterprise operational matters. The Waltonchain team is well-equipped for battle though – co-founders Do Sanghyuk and Xu Fangcheng have pedigrees as the Directors of the Korean Standard Products Association and Septwolves Group Ltd., respectively. And Kim Sukku, a former Samsung VP, serves as Chief Scientist Advisor. Waltonchain is named after Charlie Walton, who invented RFID technology. It’s also an acronym for Wisdom Alters Label, Trade Organization, and Network. It’s not related to Walmart or the Walton family who owns that retailer. By focusing on one of the most-used technologies in supply chain, Waltonchain can build a sustainable business. We’ll start our research into the project with a deep dive into Waltoncoin (WTC), the proprietary cryptocurrency coin of the Waltonchain blockchain. Waltoncoin (WCT) Cryptocurrency Summary As of December 30, 2018, the circulating supply of Waltoncoin is 40,369,759 out of a total supply of 100,000,000 WTC. The peak price of WTC so far was $42.46 on January 27, 2018. The Waltonchain ICO token crowdsale was held from September 1 through 30, 2017. At this time, approximately $10,000,000 worth of ETH was raised by selling around 25,000,000 WTC. Approximately 30,000,000 WTC was withheld for mining rewards, and 10,000,000 WTC was retained by the founding team. Waltoncoin is used to pay for transactions or create subchains on the Waltonchain blockchain on a per-byte basis. WTC is mined using a combined Proof-of-Work (PoW), Proof-of-Stake (PoS), and Proof-of-Labor (PoL) consensus mechanism. They call it Waltonchain Proof-of-Contribution (WPoC). The main chain uses a combination of PoW and PoS. Data exchanges between parent and child chains are processed by master nodes using PoL. There are three types of Waltonchain master nodes: Master Nodes (MN), Guardian Master Nodes (GMN), and Super Master Nodes (SMN). Here’s the breakdown of the formulas used to calculate WTC rewards: WTC Holders = PoS Pool MN = PoS Pool + PoW + PoL GMN = MN Pool + PoS Pool + PoW + PoL SMN = GMN Pool + MN Pool + PoS Pool + PoW + PoL As of December 19, 2018, there are 18 SMNs, 1563 GMNs, and 2281 MNs (which includes GMNs). The Waltonchain Foundation has been actively recruiting 99 SMNs since July 2018. Holding 5000 WTC qualifies you as a Guardian Master Node and 10,000 WTC is needed to qualify as a Super Master Node. The Waltonchain mainnet was launched March 2018, and a series of token swaps have been held to convert mined WTCT tokens on the Ethereum-based Waltonchain beta into ERC-20 WTC tokens on the mainnet. Waltoncoin is accepted by a variety of cryptocurrency exchange markets, including Allbit, Binance, Bithumb, Huobi, OKEx, and CoinMex. Its trading pairs include ETH, BTC, XRP, and USDT. The Waltonchain mainnet is an Ethereum fork, so WTC is still ERC-20 compatible and can be stored in any ERC20-compatible cryptocurrency wallet. This includes MyEtherWallet and the Trezor and Ledger hardware wallets. 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Waltonchain(WTC) Price $1.09 Market Cap$27,501,230.68 #ccpw-ticker-25656 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-25656 #ccc-chart-block .exportBtnTop, #ccpw-ticker-25656 a.tabperiods.tabperiods_active, #ccpw-ticker-25656 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-25656 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-25656 .coin-container:after, .ccpw-container_four #ccpw-ticker-25656 .coin-container:after {border-color:#ccc !Important;} Waltonchain’s RFID Supply Chain Bet Waltonchain’s value proposition describes a Value Internet of Things (VIoT) in which data from RFID tags is stored on the blockchain. Scanning the RFID tag provides a brief look at necessary information about the product it’s attached to. In the food supply chain, for example, an RFID tag would hold the harvest date, all parties who touched the product, and any other information pertinent to the end user. And businesses don’t have to worry about trade secrets being leaked – all Waltonchain users are able and welcome to create subchains with whatever consensus mechanism they choose. This reduces the bottlenecking found in Ethereum’s blockchain and enables scaling. It seems to be attracting enterprise partners across China and Southeast Asia. Aside from partnering with several Chinese provincial governments, Waltonchain is partnered with Tanyu, Silictec, Lalabobo, Kaltendin, and more. It is not currently partnered with Walmart, and rumors swirling around seem to be based on the similar name. Although focused mostly on Asian markets so far, there’s comprehensive English documentation building, and the official Waltonchain Medium account is regularly updated. Now that Waltonchain has proof of concept, it simply needs to continue selling its supply chain management solution to more enterprise users, who sign long-term contracts with big payouts. The supply chain management market is expected to be worth $19 billion annually by 2021, according to Gartner. Blockchain technology, when combined with IoT and artificial intelligence (AI) machine learning (ML) algorithms, is seen by many industry analysts and experts as the solution to minimizing errors, reducing costs, and speeding up the entire supply chain. Waltonchain Summary Waltonchain is one of many enterprise-grade supply chain solutions integrating RFID IoT data onto the blockchain. It’s named after the inventor of RFID and is not associated nor partnered with Walmart. The project is well endorsed in China and other countries in the Southeast Asia region. The success of Waltonchain hinges on these key factors: Waltonchain stores RFID information in smart contracts on an Ethereum-like blockchain that supports parent and child chains. Waltoncoin (WCT) is the proprietary ERC-20 token of the Waltonchain mainnet. It’s mined using a hybrid WPoC consensus algorithm that balances stake and work among nodes. Individual users can create and issue their own tokens on the Waltonchain network using whatever consensus algorithm they please. With these pieces in place, Waltonchain has a solid technical architecture in place and enough partners to keep money flowing into the project. The real issue is whether it can attract enough SMBs, GMBs, and MBs to scale and support the massive supply chain infrastructure in place. If it can carry the weight, people may one day wonder if Walmart is a subsidiary of Waltonchain, instead of the other way around…   The author is not currently invested in digital assets. The post What Is Waltonchain Network?  Introduction to Waltoncoin WCT Token appeared first on Crypto Briefing.
CryptoBriefing

What Is Reddcoin? Introduction to RDD Token

What Is Reddcoin? Reddcoin is a decentralized, blockchain-based cryptocurrency used to tip or send payments for social content. Unlike competitor Steem (and legacy platforms like Snapcash), the Reddcoin API supports all social platforms, from Reddit to Twitter and Twitch. RDD, the native cryptocurrency coin of Reddcoin, is mined by the ReddID wallet through a Proof-of-Stake-Velocity, which increases your odds of mining a valid block through your RDD balance. Social media is a big business – according to Pew Research, over 68 percent of American adults use Facebook alone. In fact, the social giant has over 2.27 billion monthly active users as of September 30, 2018. The rise of social media led to a rise in influencer marketing, with major social influencers generating millions of dollars in revenue. Now everybody wants to be a social media influencer, and with brands pushing toward microinfluencers, socialcoins like RDD, SBD, and STEEM are well-positioned to bridge the gap. Everyone should get paid for making social platforms like Facebook popular, not just C-suite executives like Zuckerberg. The idea of tipping content creators already created a rift that let social funding platforms like Patreon to create a new lane and flourish. If there’s money to be made in this lane, it’s going to be found, and Reddcoin isn’t the only one looking. Even Dogecoin is popularly used for tipping online. Will social currency and Internet tipping become widespread enough to sustain an entire market? Let’s begin answering that question with a breakdown of the RDD cryptocurrency and its market performance so far. RDD Cryptocurrency Summary As of December 17th, 2018, the circulating supply of Reddcoin is 28,808,713,174 RDD, with no total supply cap (the original hard cap of 109,000,000,000 was removed during the transition to PoSV). The peak price so far of RDD was $0.028770 on January 7, 2018. The Reddcoin public ICO token sale ended January 20, 2014 and raised over $100,000 worth of BTC in anticipation of the platform’s February 2, 2014 release. Over 5.45 billion REDD was minted in this initial batch. RDD was initially mined through PoW like BTC, but it was transitioned to PoSV mining in August 2014. The total supply of RDD increases approximately five percent on an annual basis. PoSV still requires processing algorithms, but because RDD balances increase success probability, PCs, tablets, laptops, and smartphones can compete with ASIC mining rigs. Reddcoin critics argue it can’t sustain value because of its divisibility and uncapped supply. Supporters argue a price over $0.01 already makes it difficult to support microtransactions online. Spending a penny is more emotional than spending one tenth of a penny, and on ad platforms used by most websites, approximately $0.01 is paid out for every 1000 views. This puts a hefty limit on social media, as nearly 80 percent of Facebook users (and 100% of real people) have 500 or fewer friends. Over $200,000 worth of RDD is traded on a daily basis. Cryptocurrency exchanges that support RDD include Bittrex, Upbit, Litebit.eu, and Cryptopia. Reddcoin trading pairs include BTC, DOGE, and fiat currencies like EUR. The official Reddcoin cryptocurrency wallet is available for desktop platforms and mines RDD. Also, ReddID runs as a browser extension that lets you easily tip people on any website or forum you visit within the browser. Think of it as a phonebook for Reddcoin addresses and usernames so you can locate wallet addresses for the creators you’re viewing. Other third-party wallets have been created, including Reddcoin-Qt and reddcoind, however only ReddID has been confirmed for staking and earning RDD interest. Socializing With Online Networks When cryptocurrency started gaining mainstream attention in 2011, journalists, influencers, bloggers, podcasters, YouTubers, and other content creators started posting their public keys online. Over the past decade, we all just kinda got used to seeing them on social media profiles and author bios. Meanwhile in 2015, Facebook joined the ranks of messaging platforms to allow friend-to-friend payments. Microtransactions and social payments seem like the wave of the future, and several cryptocurrencies, like DOGE, have risen through the ranks as generally acceptable forms of payments to tip people online. This forced platforms to push for proprietary currencies to tokenize transactions on their platforms, whether blockchain-based or not. Amazon-owned video game streaming service Twitch, for example, created its proprietary Bits currency in late 2017 it quickly integrated the service with PayPal for convenience. Twitch has over 140 million monthly active users watching over 2.2 million monthly livestreams. Amazon spent $970 million to buy the company in 2014, and its top 10 streamers earn over $23 million a year in combined revenue. But earning a living on these platforms isn’t as easy as it looks – top earners have professional teams helping with production, social media, merch sales, and other revenue streams. The average person is lucky to make $10-$100 a year through all the content he or she creates online. And that’s assuming anyone paying attention cares enough to tip – nearly 80 percent of Facebook Messenger users have never used Facebook Payments. While services like YouTube are raising the bar for monetization, Reddcoin is going the other direction by enabling social media micropayments. Think of it as a monetized “like” button for all social media platforms. How does it accomplish this? Dissecting the Reddcoin Ecosystem Reddcoin has several APIs and UIs to make tipping on social media easier. When you create an account on the Reddcoin wallet, you’re able to link your Twitter, Twitch, and Reddit accounts. You can then download the ReddID browser extension. When you enjoy content on these platforms, you can “like” it by entering the username and sending a micropayment. REDD can be used to purchase Bits on Twitch, Reddit Gold on Reddit, etc. It can also be used as payment at some minor retailers, or it can be traded P2P or on the cryptocurrency exchanges mentioned above. Reddcoin also created Reddcoin Broadcast in 2014, which works like Hootsuite or Buffer for broadcasting messages across social media platforms. Unlike Hootsuite and Buffer, Reddcoin Broadcast is a free tool meant to spread awareness and usage of REDD. Users with the Reddcoin Wallet installed act as nodes to process blocks every 60 seconds in exchange for blockchain rewards. The APR of this system is approximately 5 percent, which means you’ll receive more by holding more, but you still need to mine. Reddcoin has everything in place – it just needs to keep people using it. Reddcoin Summary Reddcoin, like Reddit, is a project built for the people. Social media is a big business, and the general public is creating free content for these companies like modern-day slave labor. If, like me, you can’t pay your rent with likes and followers, REDD may be the solution. The success of the Reddcoin project hinges on these key factors. Reddcoin was developed in 2014 with a focus on integrating with social media platforms to enable tipping. So far, Reddcoin is integrated into Twitter, Twitch, and Reddit. REDD, the proprietary cryptocurrency of Reddcoin, can be exchanged for currencies on the above-mentioned social platforms. It can also be traded on crypto markets. Reddcoin has no supply cap and is mined using Proof-of-Stake-Velocity, which is a hybrid of Proof-of-Work and Proof-of-Stake. With these pieces in place, Reddcoin has a shot at sustaining value over the years. It may never be number one, but it’s sure to have a cult following. One can only wonder if it can coexist with DOGE or how those common-man cryptos will hold up against professional creator-focused cryptos like STEEM and SBD. With that said, it doesn’t appear that Reddcoin has just laid off 70% of its workforce…   The author is not currently invested in any coin, token, or asset mentioned in this article.   The post What Is Reddcoin? Introduction to RDD Token appeared first on Crypto Briefing.
CryptoBriefing

Ontology [ONT] enthusiasts’ passive income opportunities grow with successful node selection process

The cryptocurrency market is now in the midst of one of the worst bear runs seen in recent history, with major cryptocurrencies dropping over 1/3rd of their value in a short span of time. However, the promise of future technology utilizing blockchain is still kept alive, with projects taking the bear market as an opportunity to lay the groundwork for advancements. Even as the market bleeds, projects such as Ontology [ONT] show that this is the perfect time to push the envelope when it comes to the cutting edge in blockchain technology. This is seen by the overwhelming response to their consensus node application process, which aims to take advantage of Ontology’s Triones Node Incentive Model. Dual Token Economy powered by VBFT Consensus: This is made possible by Ontology’s dual token economy, containing both ONT, a cryptocurrency coin representing value, and ONG, a utility token used for paying transaction fees on the network. It also functions on a stake based consensus algorithm, which optimizes the performance of the blockchain to new levels. However, with staking models, an economic tool is required to participate in the process. Usually, tokens on the network are staked in order to fulfill this purpose. However, the Ontology network utilizes a combination of ONT and ONG in a model known as the Triones Economic Model. The model combines a Verifiable Random Function Byzantine Fault Tolerance [VBFT] consensus algorithm along with a consensus management smart contract in order to form the core of the Ontology governance model. The Ontology token economy uses a “compensation/ lease” model, wherein holders of the ONT coin will periodically receive ONG. On the flipside, users are required to consume gas to utilizes services on the blockchain, creating a natural flow of tokens between users. This consumed ONG will be allocated to Triones Consensus nodes based on their contributions. The consumption cost for transactions is also determined by smart contracts on the Ontology chain, with low network utilization allowing users to pay a lower Gas price. When the network is utilized, the transactions will be sorted by those with a higher Gas price, thus incentivizing consensus nodes to process transactions with higher speeds. Staking authorization process and benefits: Ontology holders can also generate passive income by participating in the staking authorization process. The minimum stakeable amount is 500 ONT, with enthusiasts able to stake more in multiples of 500 ONT. It is to be noted that the staked ONT will be locked in a smart contract, which in turn generates ONG tokens to be used on the network or sold in secondary markets. The process occurs in rounds, with each round lasting 120,000 blocks. Rewards can only be claimed after every round ends, with the staking also being cancelable at any point in time. Nodes will receive ONG from basic consumption of the entire chain network system such as network fees, storage fees, smart contract fees, and fees from other services. In order to encourage participation in consensus, nodes will also receive an additional 10,000,000 ONG per year for the first three years from the community incentives allocation. They will be able to receive benefits such as the regular generation of ONG tokens, fees from the basic consumption of the network such as storage fees, smart contract fees, and network fees, and additional ONG for the first 3 years from the Ontology Foundation. Decentralized Proof of Stake: Many PoS models tend towards centralization, an issue which is remedied by the Triones Incentive Curve Equation. This provides a fair and decentralized governance system, as staking too much ONT will reduce the rewards given in ONG. This means that only a balanced stake can achieve the maximum benefit. Moreover, the Ontology Foundation has also prepared an additional incentive of at least 1% per year for the Triones system, providing an added reason for companies to begin running nodes. The VBFT consensus design will also allow the consensus system to select candidate nodes dynamically. They are required to meet certain conditions to form a consensus network. The Triones consensus model consists of 3 groups of nodes, namely a candidate node group, consensus node group and dynamic participator node group. All ONT holders can participate in the stake custody in Triones and obtain incentives. W3C-approved Ontology Distributed Identity System: Using the revolutionary ONT ID distributed identity system, information will be gradually formed on the identity and reputation of participating nodes. This “trust quantification” system will serve as another reference for the Triones economic model. The decentralized identifier part of the Ontology network can also be used by enthusiasts as a way to plug into Web 3.0, as it is recognized as a part of the Web3 Consortium Community Group Decentralized Identification registry. They act as identifiers for a verifiable, “self-sovereign” digital identity, with Ontology becoming the third open-source public chain to implement the specification after Bitcoin [BTC] and Ethereum [ETH]. Successful seed node application process ensures scalability: The network also has future enhancement plans for large-scale deployment of close to 2401 nodes and can adjust candidate network size dynamically as per the node cost. The ratio of the consensus/ candidate nodes is set according to the initial ratio of 1:6. The seed node application process has seen 16 teams make it into the second round. The total amount of tokens staked was around 24.9 million, with those who qualified staking around 17.2 million. Notable seed node candidates include ZhenFund, a seed fund based in Beijing, DHVC, Dragon and Longlink fund. The response that was seen after the application process shows that there are projects that are flourishing, quietly building the blocks and paving the way for a blockchain-powered future. With the infrastructure and scalability in place in order to serve countless blockchain-based dApps and smart contracting features, Ontology is poised to take control of the distributed trust collaboration market. The post Ontology [ONT] enthusiasts’ passive income opportunities grow with successful node selection process appeared first on AMBCrypto.
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Huobi Launches HUSD Stablecoin To Support GUSD, PAX Token, USDCoin And True USD

For some, perhaps many, there is only one thing that can be called superior in comparison to a stablecoin, and that would be a universal one. When we say ‘universal', it means to have a coin that is immediately usable wherever stablecoins are accepted. This is exactly why the cryptocurrency coin exchange Huobi has announced the launch of its own HUSD token. What makes this stablecoin so unique is that it allows for the support of four major stablecoins. These include the Gemini Dollar, Paxos Standard, USDCoin and TrueUSD. How it works is relatively easy to understand – by holding HUSD, users are able to instantly have an amount that is equally valued in each of these stablecoins. During a small event which was held in New York over this week called the StableCoin New York Conference, and Huobi General Counsel Joshua Goodbody spoke to a detailed length about the efforts taken by him and the firm in general: “We believe the recent developments of stablecoins are positive for the industry and Huobi decided to support these developments proactively by launching HUSD. HUSD acts as a stablecoin aggregator,” Goodbody continued on to explain. “We provide the ability to deposit any of the four supported coins as HUSD and receive a 1:1 balance of HUSD which can be stored as well as traded against six pairs on Huobi Global. Users are also able to withdraw HUSD as any of the four applicable stablecoins.” It would seem that, while speaking at this event, Goodbody misspoke somewhat. According to the full exchange, the available pairs that are offered through HUSD are Bitcoin (BTC), Ether (ETH), EOS and USDT. What sets the USDT apart from other stablecoins is that it is the only one of these that is traded against the HUSD, as opposed to being part of its universal system. This is the second stablecoin effort that has decided to forego integration of USDT, which is the first pegged token. Regardless, the benefits that HUSD brings for users is that it can allow for the reduction of trading fees for those that are otherwise dealing with several types of markets. Much as we would like to believe,  there is no such thing as a market that lists every possible token and opportunity at the same time. So for many crypto traders, being able to move between exchanges is of the utmost necessity. Among these coin exchanges, Binance appears to be engaged in the creation of a stablecoin in a similar fashion to that of the HUSD, but unlike its counterpart, it has yet to announce a substantial amount of information about it. Unlike other digital tokens, the HUSD itself does not belong to any specific blockchain, but is merely a product in operation within the exchange. As a result, it cannot be subject to withdrawal or subsequently traded on with others. When these kinds of products emerge, they . will begin to look like the derivatives market on a superficial level Perhaps on the of net positives for that will be that they will have a far greater constitution. The addition of the TrueUSD, which will be the first token on the Trust Token platform which has yet to fully launch, it makes for a very interesting move by Huobi. Up to this point, the company is one of the few that has been outspoken in its support of Trust Token in any capacity. The Trust Token platform itself aims for the tokenization of any and all real-world assets using ‘smart trust' contracts. In doing so, it essentially enables anyone to offer a certain level of stock in something that they own. To date, its Initial Coin Offering has yet to officially launch, but TrueUSD is very real in the meantime, and operates on the exact same software.
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BITBOX Exchange Adds Support For The ICON (ICX) Cryptocurrency Coin

BITBOX Has Gone Ahead To add Some Support For The ICON (ICX) The Line Corporation has just gone ahead to announce that the ICON, also referred to as the ICX, is finally available for trade on their digital asset exchange that they call the BITBOX. On this exchange, the ICON can easily be traded with Bitcoin. Just to make the new addition official to their system, the BITBOX platform will be offering a 50% discount on any of the trading fees, this is for the ICX/BTC trading pair that will take place till November 30th. The ICON Has A Lot To Offer They have a slogan the ‘hyper connect the world,’ which has led ICON to be the leading blockchain developer in the market. But their main focus is the creation of an interconnected decentralized future for the market. The Line Corporation went ahead to team up with the ICON platform back in May to help in the establishment of a joint venture unchain. The partnership has been tasked with designing a token economy platform that will be able to reward the users much better than what is being offered in the market. Additionally, they are to develop an array of blockchain technology-based apps services that are able to operate efficiently; this is the likes of Wizball and 4CAST. Having ICON listed is another accomplishment for the Line Corporation in the prospects of building a token economy, one that will be able to provide the different users with a diverse variety within the market. The BITBOX company will not stop here is it plans on continuing to add more digital assets, which will be done through the open listing committee and review processes. Once the project is in place, it will allow different blockchains in the market that have been designed with different governing protocols to transact efficiently. When we look at the markets ICX, it has about $107.2 million in market capitalization; thus, this makes it the 43rd largest coin in the crypto market. Additionally, it is the 37th largest token found in the AltDex 100 Index; this is a benchmark index that has been designed to exclude the extraneous and stable coins in the market. More On The Discount Fee The company will be hosting a three-day trading discount fee for the ICX/BTC pair. This will be between 27th to the 30th of November, an event that has been organized by the Line Tech Plus Pte Ltd, also referred to as BITBOX. However, it is important to note that BITBOX still has the rights to reverse the 50% terms at any time, but if these changes are to take place, the company will inform and also amend the terms and conditions set for the 50% discount event. To participate in the 50% discount event, you will need to ensure you are a verified user on the platform, this is done through an SMS verification process. However, it is essential that you take a few minutes and read through the terms of the set event, just to ensure you are not caught off guard of any changes. If you do not reach the service eligibility to take part in the discount event, BITBOX has the rights to refuse you to take part on the 50% discount, thus, making it essential read both the terms and privacy policies. In the event you would like to pull out from the event you may do so at any time.
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Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance

Singapore Exchange Loses A Mass Of Crypto Exchanges haven’t had the best start to 2019. Sure, Binance has been doing A-OK with its initial exchange offering (IEO) model, with its resident token rallying past $17, but lesser-known crypto platforms have been suffering. Earlier this year, QuadrigaCX was revealed to have ‘lost’ access to over $150 million worth of Bitcoin, Ethereum, and other assets, as Cryptopia suffered a devastating hack. This facet of the industry’s misfortune has continued, unfortunately enough. According to CoinDesk, DragonEx, a Singapore-based exchange, was hacked. The company announced this unfortunate happening via its Telegram channel, in which DragonEx’s PR staff claimed that funds of users and the platform itself were “transferred and stolen.” DragonEx has yet to divulge the exact details of the crypto assets stolen, including the type and the nominal value. However, the company did post the addresses of the assumed hackers, of which there were about 20 pertaining to a series of assets (Bitcoin, XEM, EOS, XRP, ETC, etc.). From a brief look, a minimum of 135 BTC, 500 Ether, and 4,670 LTC were forcibly yanked from the exchange’s coffers. This, for those who are wondering, racks up to ~$800,000. The full amount hacked, however, could easily be much higher than this sum. DragonEx has purportedly informed a number of local authorities, including those in Estonia, Thailand, Singapore, and Hong Kong, to the attack. Elaborating, the crypto startup wrote: “We’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week. It was added that the firm will “take the responsibility no matter what.” Coinbene Under Seige? This comes as Coinbene suddenly revealed it would be undergoing maintenance. A tweet from the company claims that it “upgraded the platform wallet… operations such as deposit and withdraw will be affected.” While this is a normal announcement for exchanges across the board, Coinbene’s session came straight out of left field, leading to ramping speculation. Nick Schteringard posted the below message in a bid to draw suspicion to the exchange’s Ethereum wallets, which sent out a mass of ERC-20 tokens yesterday. Some strange activity spotted on #Coinbene. Users report that #ETH wallets were hacked and attach these two addresses. https://t.co/f5NxvfscSC https://t.co/S1WnwI8CUx #bitcoin #exchange— Nick Schteringard (@schteringard) March 26, 2019 Coinbene’s ongoing imbroglio comes after Bitwise Asset Management, an American crypto-centric investment services provider, targeted the exchange in its scathing report on fake Bitcoin trading activity. As reported by Ethereum World News previously, Bitwise drew attention to “suspicious exchanges” such as the little-known CoinBene to back its report. CoinBene purportedly utilizes “trade printing” between the bid and ask prices, hinting that there could be an automated system behind much of the trades. Thus, some have concluded that this sudden period of maintenance could be the platform’s bid to rectify bots and other bad actors. Photo by Markus Spiske on Unsplash The post Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance appeared first on Ethereum World News.
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Japanese E-Commerce Giant, Rakuten, Gets Nod of Approval by FSA to Launch Crypto Exchange

Rakuten, the e-commerce giant and Japan's Amazon has completed the registration of its cryptocurrency exchange Rakuten Wallet that will be going live next month, as per the press release of the company on March 25. The official announcement reads: “We are pleased to announce that our registration with the Kanto Finance Bureau has been completed […]
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$3.4M Huobi Prime Sale Shows Investor Enthusiasm Remains High

Huobi Prime successfully completed its first initial exchange offering (IEO) on Huobi Prime this afternoon. The sale concluded in a matter of seconds, and raised $3.4M – proving that investor enthusiasm for the new token sale format isn’t confined to Binance Launchpad. TOP Network, a blockchain-based messaging service, was the first project featured on the new platform. More than 1.5bn TOP tokens were sold, around 7.5% of the total supply. The token was made available for trading almost immediately, and at the time of writing was exchanging hands at a multiple of around four times the asking price. The sale comprised three funding rounds, each offering larger quantities at a slightly higher asking price than the last. Although each round was set to last 30 minutes, each round was heavily oversubscribed and finished within seconds of opening. The first round completed within seven seconds. Huobi only announced its new Prime feature last week, as Crypto Briefing reported. Unlike the first few sales on Binance Launchpad, which were open to the general public, Huobi requires eligible participants to hold 500 Huobi Tokens (HT) – used to purchase tokens – at least 30 days prior to the sale. As Ross Zhang, Huobi’s head of marketing said at the time, this was to ensure the exchange gave equal opportunities to investors who were “involved and invested in our ecosystem”. Binance announced Sunday that Launchpad sales would now feature a new lottery-based format to its token sales. Better Protections For Investors… Unless Conflicts Arise? What makes IEOs interesting is that they tweak the token sale model. Instead of direct transactions between investors and projects, the exchange itself forms the counter-party. Participants must register and create an account on the platform, and this requires them to first pass KYC/AML checks. It’s also within the best interests of exchanges to ensure sales are full compliance. It’s their necks on the line and this means they are likely to carefully vet projects first. As Huobi said in its initial announcement, tokens must first pass a “[r]igorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.” Binance upgraded its own KYC/AML procedures today. Other exchanges are also looking at the IEO model, and despite a failure to launch with their first effort, Bittrex is seeking to offer VeriBlock as its next attempt. The VeriBlock project, which counts Bittrex CEO Bill Shihara as an advisor, would be valued at over $200M if the sale is completed successfully. Bittrex includes a disclaimer on its website explaining that as a result of Shihara’s dual role, “Bittrex holds a customary minority equity position in an affiliate of the sponsor of the VBK Coin Initial Exchange Offering, and will indirectly benefit from the successful completion of the Initial Exchange Offering.” Whether this discourages investors remains to be seen. Few would have thought three months ago that sales such as BitTorrent (BTT), Celer Network (CELR) and now TOP Network would have been possible. KuCoin’s Spotlight platform will be hosting its first token sale next week. Is an IEO season upon us? The author is invested in digital assets, but none mentioned in this article. Join the conversation on Telegram and Twitter! The post $3.4M Huobi Prime Sale Shows Investor Enthusiasm Remains High appeared first on Crypto Briefing.
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Why the New ‘Apple Card’ Credit Card Doesn’t Compete With Bitcoin

The Apple credit card launches this summer. Here’s why it nothing like Bitcoin and is more underwhelming than a utility token with no use-case. Apple Announces Credit Card Apple has long been revered as the world’s most innovative company. There’s no denying that the smartphone changed the way billions of people around the world live their lives forever. But it’s time for the trailblazing tech company to wake up and smell the roses. While Apple was releasing one carbon-copy product after another at higher and higher prices, the competition was busy doing the opposite. Now the high-end, high-priced tech manufacturer is scrambling to hold its own in a rapidly evolving market. And with the launch of its underwhelming Apple Card, there’s something sad about the stench of its desperation. Apple Card vs Samsung’s Built-In Bitcoin Wallet Apple’s largest competitor apart from the slew of cheaper Chinese products is undoubtedly Samsung. The South Korean giant hasn’t had an easy ride either with equally pricey products getting undercut left and right. But as one large company embraces the future, its flagship Galaxy S10 coming with a built-in Bitcoin wallet, Apple’s response is disappointing, to say the least. Rather than acknowledge the cryptocurrency revolution, and appeal to a younger market, the smartphone manufacturer aims to ‘disrupt’ the credit card industry. Isn’t that the wrong pool to be swimming in? The revolution won’t come in the form of borderless transactions since it’s only available in the United States. It also won’t be peer-to-peer, eliminate centralized institutions, or greatly reduce fees. Although its interest rates will be: Among the lowest in the industry Mind. Blown. Apple’s game plan is more about additional security of payments, no annual or foreign transaction fees, and the fact that (wait for it) its partner Goldman Sachs will never sell your data for marketing. You can even buy yourself a coffee on the Goldman Sachs blockchain. You just have to trust Apple and Goldman Sachs to do so. It’s a Custodial Hardware Hot Wallet The Apple Card will come built into the iPhone’s Wallet App, which effectively makes it a custodial hardware hot wallet for USD. Apple claims they will never track your transactions, and all the information will be held on your device. Users can request a laser-etched titanium card, should they be so inclined, although, there seems to be little point in that. In fact, why even offer a traditional card for a wallet the company wants you to get rid of in the first place? If you’ve failed to be bowled over by so much innovation so far, there’s more. Users can track their spending on their phone through a user-friendly app. You Have to Trust Goldman Sachs In the wake of major gaffes by tech companies like Facebook and Google, Apple is pushing its next-generation security and privacy features. The centralized entity will not track your transactions and Goldman Sachs (the other centralized entity) has agreed not to sell user data. Explosive stuff compared to a decentralized alternative financial system which requires no intermediaries at all. Increased adoption of Apple Pay? Perhaps. A revolution in finance? It’s just as well Cook wasn’t speaking at a Bitcoin conference, the audience would have walked out in droves. Steve Jobs Would Have Had Bitcoin in iOS by Now Apple Card seems like a desperate bid to push Apply Pay onto the people rather than let them to choose how they manage their finances. CEO Tim Cook enthused that the card was: The most significant change in the credit card experience in 50 years. Exactly where has he been lately? Steve Jobs would have Bitcoin integrated into iOS by now.  The aim of the game is presumably to bump up the adoption of Apple Pay in partnership with market leaders MasterCard and Goldman Sachs. Two giant financial institutions that will hardly feel the pinch from Apple Pay and its meager card. There are no real tangible benefits for users of the card beyond a few outstandingly mundane offers. For example, paying for Apple products with your built-in Apple Card gets you a whopping 1-3% cash back on purchases. So what is Apple thinking entering an already saturated market that swathes of people are trying to overthrow? Once on the cutting-edge of innovation, Apple now seems to be extremely myopic when it comes to the future. What do you this of this new credit card? Will it undermine payment-focused cryptocurrencies with low fees? Share your thoughts below! Images via Shutterstock The post Why the New ‘Apple Card’ Credit Card Doesn’t Compete With Bitcoin appeared first on Bitcoinist.com.
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