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Matic’s Looming Mainnet Launch Marks The Convergence of Scaling Projects & DeFi 

Matic Network, a Plasma-based layer two scaling and performance solution for Ethereum, has been making significant strides with its beta mainnet, which officially went live at the end of September. Culminating in a recent post enumerating the staking dynamics of the network, Matic’s anticipated launch will mark a subtle milestone in crypto — the long-awaited fruition of projects that arose out of Ethereum’s scaling woes.  Additionally, Matic will be one of the first live implementations of Plasma, a complex technology web of root chains and side chains that can drastically bolster the performance of decentralized applications (dapps) on Ethereum.  “The β-Mainnet is Matic Network’s sidechain (iteration 2) working on the top of Ethereum Mainnet,” details the Matic official blog post. “The developers can build and test their full end to end applications with this version as well.” At a time when bootstrapped blockchain competitors like Cosmos, Algorand, and Polkadot are seeking to absorb some of Ethereum’s market share, Matic presents an intriguing case study at the convergence of two prominent crypto narratives.  High-Performance Infrastructure for The Next Generation of Finance. Much of the focus in Ethereum circles has shifted to the ballooning DeFi ecosystem and the looming Ethereum 2.0 transition in recent months. However, projects like Matic represent more flexible, bespoke solutions for dapps that require performance on public blockchains — like DeFi.  And many DeFi and prominent Ethereum projects are taking notice. Some of Matic’s official partners include MakerDAO and Decentraland, two ambitious and popular platforms on Ethereum.  In particular, Matic’s blend of Plasma and proof-of-stake (PoS) validation can empower up to 65k transactions per second (TPS) on a single Matic sidechain. For some context, Matic functions as a virtual layer on top of Ethereum’s primary blockchain (i.e., root chain), offloading the execution of smart contract tasks and transactions to sidechains, the “Matic” chains.  Similar to the tendrils of branches stemming from a tree trunk (Ethereum), these sidechains process exceptionally rapid and low-cost transactions using their own PoS consensus, with the actual final settlement tethered Ethereum’s root chain.  Crafting a more scalable layer on top of Ethereum also breeds other specific advantages for dapps that want to build on Matic.  For example, the user interface and UX can be improved by abstracting away the underlying complexity of Ethereum, making dapps more conducive to mainstream user preferences. Similarly, Matic is set to eventually roll out interoperability between other networks, enabling a “plug-and-play” dynamic between assets on the sidechains of different networks.  In the context of DeFi, scalable, high-performance infrastructure is congruent with the long-term vision of building a legitimate alternative to conventional finance. From micro-insurance products to decentralized financial leverage products, DeFi platforms that can support wide-ranging functions with scalable liquidity require a performant foundation.  Many DeFi projects on Ethereum remain localized to small communities of early investors and governance participants, but that will change should arbitrage and market-making strategies help the market mature to a level appealing to financial institutions.  With Matic, DeFi projects that begin to attract vast amounts of liquidity and users will look to flexible, scalable solutions like Matic for a frictionless experience.  Compatibility and Convenience Are King  Open-source projects are exploding in popularity, forging global communities of contributors and supporters. Ethereum is one of those rapidly growing projects, which gives it some powerful network effects in crypto. And many projects building on Ethereum are wont to understand the relationship between users, convenience, and liquidity when it comes to DeFi.  For its part, Matic is catering to Ethereum developers by allowing them quickly port over existing smart contracts to its sidechains — a boon of developer convenience.  “Matic Chains are Ethereum Virtual Machine (EVM) compatible and extremely developer-friendly,” details the Matic Medium post. “Deploying smart-contracts is similar to deploying contracts on Ethereum using tools like Remix, Truffle. Teams developing on Ethereum can immediately port their existing smart contracts and begin testing on Matic sidechains.” Add in Matic’s partnership with MakerDAO, which recently extended to multi-collateral lending (Sai), and new doors open for developers seeking to build commerce applications that leverage the Dai stablecoin.  Complementing platforms like MakerDAO will only serve to attract more developers, and eventually, users to Matic.  In the process, market makers and arbitragers can wield atomic swaps and atomic batched transfers to smooth market inefficiencies ranging from differing interest yields on lending platforms to spreads between DEXs. Markets eventually mature, infrastructure scales to attract more institutional liquidity, and the axiom of “liquidity begets liquidity” materializes.  That eventual fruition of a more mature Ethereum is a vision that many developers and users have anxiously awaited since the ICO mania of late 2017.  Now, that vision looks more like a matter of “when” than “if,” and Matic’s looming mainnet launch is set to mark a pivotal moment in the trajectory of Ethereum — the transition of scaling projects from hype to reality.  The post Matic’s Looming Mainnet Launch Marks The Convergence of Scaling Projects & DeFi  appeared first on TechBullion.
TechBullion

Bitcoin Consolidates Around $7,500

Bitcoin continues to consolidate around the $7,500 level in early Monday trading, as traders and investors await the launch of Bakkt’s Bitcoin options trading offering. The broader cryptocurrency market is trading sideways as the top 10 cryptocurrencies struggled to find a strong directional bias in early-week trading. Tezos continues its recent move to the upside, as the cryptocurrency posted a five percent gain. Cosmos started to stabilize after receiving a notable bid over the weekend. The total cryptocurrency market capitalization is $197 billion, which is around $1 billion higher than the December monthly open. Bitcoin Bitcoin is trading around the top of the falling wedge pattern, although upside momentum is currently lacking to forge a breakout. Buyers need to move price above the $7,570 level to encourage further technical buying. Price is also starting to create higher highs and lower lows in the short-term, which is a bullish development. The $7,770 and $7,850 level remain the key resistance areas bulls need to break in order to secure a test of the $8,000 level. Key support is found at the $7,380 and $7,200 levels. BTC/USD Daily Chart by TradingView Total Market Cap Positive technical signs are starting to emerge on the daily chart of the total market cap chart. Although similar to Bitcoin, upside momentum is currently lacking. A bullish breakout from a falling wedge pattern has occurred over the last few days. If the price continues to hold above trendline support, further gains across the cryptocurrency market should be expected. Major upcoming resistance is located at the $218 and $230 billion levels, while key support is found at the $194 billion and $190 billion levels. Total Market Cap Chart by TradingView Overall Sentiment According to the latest data from The TIE, sentiment toward the cryptocurrency market remains is neutral, at 49 percent. Ethereum has the strongest sentiment among the top 10 cryptocurrencies at 78 percent. Meanwhile, EOS has the weakest at 43 percent. The post Bitcoin Consolidates Around $7,500 appeared first on Crypto Briefing.
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Binance HTC Exodus 1 Phone On Sale Tomorrow, Exchange Rolls Out Cosmos Staking And Fiat Options

HTC Exodus is releasing a special Binance edition crypto-phone that will be available on December 5th on the official HTC Exodus website, the world’s leading cryptocurrency exchange announced on Wednesday. Dubbed HTC Exodus 1, the smartphone will cost you SG$889 or around $599US . Interested parties can also purchase the device at an comparable price […]
Bitcoin Exchange Guide

LCNEM to work with ProximaX blockchain on Cosmos integration

LCNEM, a blockchain technology systems integrator based in Japan, announced today it will work with blockchain platform ProximaX on realizing Cosmos integration, and enlarging the coverage of ProximaX Sirius as part of the Cosmos interoperability solution. Connecting blockchains is at the heart of interoperability and Cosmos is designed to facilitate it. Integrating the Sirius bloackchain […] CryptoNinjas: LCNEM to work with ProximaX blockchain on Cosmos integration
CryptoNinjas

Open Market makes non-fungible-tokens on XAR and Fantom tradeable over IBC

OpenMarket, a decentralized marketplace for non-fungible token (NFT) trading over inter-blockchain communication protocol (IBC) in the Cosmos ecosystem and XAR network, a Cosmos-based IBC-supporting platform for collateralized stablecoins, announced collaboration to make NFTs on XAR and Fantom tradeable over IBC. XAR features Collateralized Stable Debt Tokens (CSDTs), a non-fungible asset that has a non-insignificant value, […] CryptoNinjas: Open Market makes non-fungible-tokens on XAR and Fantom tradeable over IBC
CryptoNinjas

Distributed data service Bluzelle to integrate Cosmos

Bluzelle, a distributed key-value store edge caching service providing high-performance and high availability, has announced it will be pushing back its ‘Curie’ mainnet launch to the end of March 2020. This is being done in order to integrate the interoperable cross-blockchain Cosmos network. The integration of Cosmos enables Bluzelle to expand from database offerings to […] CryptoNinjas: Distributed data service Bluzelle to integrate Cosmos
CryptoNinjas

Kava | Brian Kerr | CDP platform | stablecoin | BlockchainBrad | DeFi | Cosmos SDK | Tendermint

Today BlockchainBrad speaks with Kava CEO, Brian Kerr, in a detailed crypto interview. Kava is all about leverage assets via their cross-chain CDP platform. They're essentially finance, decentralized, offering collateralised loans and stablecoins. Kava is built on the Cosmos SDK and protocol and some of the core features include: multicollateral debt positions, self issued loans and stablecoin creation. Governance, staking & validation are also integral to Kava's tech architecture. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ►Join The BCB Tele https://t.me/BlockchainBradCommunity ► Follow on twitter: https://twitter.com/Brad_Laurie ► Join BlockVera on twitter: @BlockVera ► Check out BlockVera on youtube: https://www.youtube.com/watch?v=Af4pD... ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● PAYMENT/DONATION DISCLOSURE: This interview was entirely, 100% FREE for the People! In every way, there were no tokens, no under the table deals. I believe that sponsored content is not a problem if disclosed openly to the community. This is not Financial Advice. Please #DYOR ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● KAVA RESOURCES: Twitter: https://twitter.com/kava_labs Web: https://www.kava.io/ Blog: https://medium.com/kava-labs telegram: https://t.me/kavalabs ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Features: COLLATERAL Collateralise your favourite assets for free using Kava’s multi collateral CDP system. LEVERAGE HODL harder. You can increase your long exposure using Kava’s decentralized CDPs. STABILITY Move out of a position into a stable coin, backed by the best crypto assets in the world. RELIABLE Built on Tendermint consensus. Proven bonded proof of stake. INTEROPERABLE Multi asset first. Kava is built from the ground up to let you leverage the assets you want. FAST No more waiting around for blocks to clear. Single block finality and high throughput lets you save time on execution when it counts. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Timestamps: will add soon! (just doing all this on my own, so I will add them as soon as I can). Feel free to drop some in the comments and I will add them! ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● INVESTMENT DISCLOSURE: I have not invested in Kava, but I am thinking about it. This is not Financial Advice. #DYOR always. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● GENERAL DISCLAIMER: The information provided is not to be considered as a recommendation to buy or invest in certain assets or currencies and is provided solely as an educational and information resource to help traders make their own decisions. Past performance is no guarantee of future success. It is important to note that no system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the attached material will guarantee profits or ensures freedom from losses. BlockchainBrad shall not be liable to the participant for any damages, claims, expenses or losses of any kind (whether direct or indirect) suffered by the participant arising from or in connection with the information obtained this website or directly from the website owner. #kava #stablecoin #CDPPlatform #CryptoCollateral #cryptobanking #blockchainbrad #cosmos #tendermint
Blockchain Brad

Crypto Market Stages Recovery With Cosmos Leading

The cryptocurrency market is bouncing back on Tuesday as Bitcoin and a number of leading altcoins reversed the heavy trading losses incurred early on Monday. Bitcoin is holding firm above $7,000 level as buyers attempt to stabilize the cryptocurrency above the October monthly trading low, located around the $7,300 level. Ethereum and Bitcoin SV are some of the best performing cryptocurrencies in the top 10, both posting double-digit gains. Cosmos is one of the main outperformers and has recovered close to 20 percent of its trading value since Monday’s plummet below $3. The total cryptocurrency market capitalization is $190 billion, an increase of 11 percent since the start of the week. Cosmos Cosmos has been a strong price recovery since Monday and is now technically bullish across both the short and the medium-term horizon. The bounce back from below the $3.00 level further underpins the notion that the ATOM/USD pair is headed much higher over the medium-term. Buyers now need to rally the price up to $4.30 to ignite a large inverted head and shoulders pattern that has the potential to take Cosmos as high as $7.00. ATOM/USD by TradingView Total Market Capitalization The daily time frame chart of the total market capitalization is showing that traders bought in heavily from the $173 billion level on Monday, creating a bullish reversal candle.  While a medium-term bottom has not yet been confirmed, stabilization above $207 billion level would encourage traders to long the crypto market. The RSI indicator is also showing that the total market cap is at its third most oversold level on record. The trading action around the falling wedge pattern on the daily time frame remains key. A technical breakout from the $173 to $207 billion price range should determine the next strong directional move. Crypto Total Market Cap by by TradingView Overall Sentiment According to the latest data from The TIE, sentiment toward the cryptocurrency market remains neutral at 45 percent. Bitcoin has the strongest sentiment among the top 10 cryptocurrencies at 66 percent. Meanwhile, its fork Bitcoin SV has the weakest at 38 percent. The post Crypto Market Stages Recovery With Cosmos Leading appeared first on Crypto Briefing.
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South Korea Prepares to Draft Bitcoin Capital Gains Tax Guidelines

The South Korean government wants to tax capital gains on cryptocurrencies. This new decree has yet to be officially improved by the proper authorities.  South Korean news outlet Korea Times claims the government wants to impose capital gains taxes on virtual currencies, including bitcoin. Bitcoin Taxation in South Korea This is a new measure by the domestic Ministry of Economy and Finance, which is expected to become part of tax regulation in 2020. Discussions regarding this measure have been going on for some time now. South Korea is one of the primary regions of cryptocurrency trading activity today. A revised tax regulation bill will be drafted by Q2 2020, after which it will be reviewed and revised wherever necessary. A second bill is on the table to enhance the overall transparency of virtual currency trading in South Korea. If that bill were to pass as well, it will be introduced one year after the taxation guidelines have been adjusted.  Several problems persist regarding both of these proposals, however. In South Korea, the current definition of virtual assets is ambiguous and leaves much room for debate  It is now up to government officials to draft clear guidelines on how bitcoin and other virtual currencies will be treated. Depending on that classification, the taxation guidelines will need to be altered as well. The coming months will prove to be crucial for the future of virtual currencies in South Korea.  Image(s): Shutterstock.com The post South Korea Prepares to Draft Bitcoin Capital Gains Tax Guidelines appeared first on NullTX.
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South Korea Crypto Account Holders Must Use Their Legal Names

South Korea has passed new laws requiring that everyone opening a cryptocurrency account use their true, legal names to do so. South Korea: The Center of Crypto Regulation? As time goes by, many cryptocurrency exchanges and businesses are seeking out ways to remain fully compliant with federal regulators. The problem is that to do this, they’re often required to invade the privacy of their customers to one extent or another, and this scenario is no exception. One of the issues at hand is that many argue that cryptocurrency is often utilized for criminal behavior, such as money laundering. While it’s nearly impossible to say how many individuals are using crypto to perform malicious activity, the fact remains that most cryptocurrencies share properties that make them ideal to the present financial infrastructure. They can solve many of the world’s monetary issues and potentially ease the burden of global poverty. Nevertheless, most regulators do not see this, and choose instead to focus primarily on what crypto can do to make the world a darker place. While it’s understandable that this should be considered, is enough emphasis being put on all the good that crypto can do? As it stands, South Korea will now have to report all cryptocurrency transaction data to regulators, who will oversee the transactions and decide if they are permissible or if there is something suspicious going on. On the one hand, this has a positive side in the sense that crime – if cryptocurrency is ever going to be taken seriously – must come to a full halt, and this is one potential way to do it. At the same time, the idea that people must now use their real names and in some cases, upload government-issued photo IDs to their accounts as part of the ongoing know your customer (KYC) tactics now employed by most cryptocurrency exchanges and businesses, really goes against what most forms of crypto are all about. Most digital assets, especially bitcoin, were designed with the general public in mind. They were designed to give people their financial freedom back, and this included anonymity and the chance to use their money as they saw fit, so the idea that people’s names, photos and other sensitive information is being forwarded to financial legislators every time is a little unseemly. Keeping Up Appearances South Korea’s new identity verification system is being implemented by a cryptocurrency exchange known as Bit Thumb. To an extent, it makes sense that the region is being so adamant about knowing exactly who their customers are considering popular trading platform Up Bit – also stationed in South Korea – was recently robbed of nearly $50 million in ether funds. In addition, the country accounts for roughly 20 percent of the world’s cryptocurrency transactions. With so much business at stake, it’s understandable that they want to heighten safety measures. The post South Korea Crypto Account Holders Must Use Their Legal Names appeared first on Live Bitcoin News.
Live Bitcoin News

Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ

Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ China could start its pilot for the central bank digital currency (CBDC) before the end of this year, according to local news outlet Caijing. The article states that the anticipated pilot project “will go out of the central bank system and enter […] Cet article Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ est apparu en premier sur Bitcoin Central.
Bitcoin Central

EOS Price Hit after Getting a C- in Decentralization by Weiss

Blockchain project EOS started this week on a negative note after an independent agency downgraded its rating from B to C-. Weiss Crypto Ratings published a report on December 6 wherein it demoted EOS to lower ranks over its centralization. The agency noted that just 0.01 percent of the EOS token holders control over 68 percent of the voting power on its blockchain. That allows a handful of entities to practice censorship over hundreds of thousands of EOS investors. In comparison, provable decentralized projects like Bitcoin works across 9,300 nodes to confirm and validate transactions atop its blockchain. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 EOS spent a quiet weekend but its value eventually took a toll during the Monday session. The EOS-to-dollar exchange rate was down by $0.083, or 3.02 percent, as of 1658 UTC. Against bitcoin, the cryptocurrency did relatively better, falling about 1.64 percent to trade at 359 sats. The market capitalization likewise took a plunge roughly worth $500 million to settle a low at $2.534 billion. At its December peak, it was $2.613 billion. Ascending Channel The latest move downside brought EOS close to retesting the support of an Ascending Channel. While the lower trendline certainly capped the price from falling further downward, the negative sentiment arising from the Weiss report could weaken it in the near-term. The bearish case prompts EOS to retest to close below the Channel Support and target 304-342 sats area as an accumulation range. In the event of a breakdown, traders could extend their short position towards 284 sats while keeping a stop loss above the level at which they had entered the trade. EOS is trending inside an ascending channel | Source: TradingView.com, Coinbase On the other hand, the price has not failed to reach the upper levels so far. A pullback action from Channel support could push EOS back towards the Channel resistance. Traders with low-risk appetite could use the bounce-back as an opportunity to open a fresh long position 405 sats. Meanwhile, they could minimize risks by maintaining a stop-loss order just below the Channel support. A Consideration From a fundamental point of view, investors who were bullish on EOS might find it hard to digest its centralization issues. The sentiment could prompt some to switch their positions for tokens with more attractive opportunities. Such a scenario could suit the breakdown scenario as discussed above. Meanwhile, traders can look to accumulate EOS ahead of the launch of Voice. EOS creator Block.One on Thursday announced that it would launch the EOS-based social media platform on February 14. While the announcement did not help neutralize trading sentiments immediately, traders can still speculate on the Voice launch to make interim profits. One could watch out for a reversal from Channel resistance – a sign that traders are processing the Voice news – and place his/her upside positions. EOS Price Hit after Getting a C- in Decentralization by Weiss was last modified: December 9th, 2019 by Yashu GolaThe post EOS Price Hit after Getting a C- in Decentralization by Weiss appeared first on NewsBTC.
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