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Cardano moves towards decentralization as its price consolidates

Cardano is in the spotlight for over the last few weeks as a wave of developments and partnerships are unveiled. Meanwhile, ADA’s market value continues lurking. Road to decentralization David Desser, senior product manager at Cardano, recently revealed in a live AMA session that the company’s team is set to launch the incentivized testnet for Shelley, whose testnet went live in mid-June. Related: Cardano team reveals details about the incentivized testnet that will bring staking to the network Unlike traditional testnets, which are closed-off sandbox environment, incentivized testnets use real incentives in the form of staking and delegation rewards to drive participation. With Shelley’s incentivized testnet, the company will analyze how game theory and rewards are perceived by the users of the network. Upon completion, Shelley is planned to be incorporated into Mainnet in multiple phases, which will pave the way for solving the centralization and proof-of-stake problem that the network currently faces. The goal is to make the ADA’s blockchain 250x more decentralized than other protocols, according to Charles Hoskinson, founder of Cardano. As Cardano takes a significant step for a more decentralized, censorless, and trustless protocol, the company behind it, Input-Output Hong Kong (IOHK), is shifting its focus towards the real-world uses of blockchain technology. In a blog post, IOHK disclosed details about a partnership with sneaker giant New Balance Athletic Inc. Both companies are collaborating to develop the “New Balance Realchain.” This will be an authentication system that aims to protect the authenticity of its collector’s edition shoes. The project will enable its users to easily access data that confirms whether a certain product is authentic. “Bringing blockchain technology to global brands and mainstream retailers is a big step for decentralized technologies,” the company said in its blog post. Despite the positive news surrounding ADA and the upcoming release of Cardano Wallet 1.7, its price has been consolidating for more than a month without clear signs of a breakout. ADA technical analysis On Sept. 24, Cardano plunged nearly 24 percent from a high of $0.047 to a low of $0.035. Since then, this cryptocurrency has been consolidating mostly between $0.037 and $0.043. When looking at its 1-day chart, the Bollinger bands appear to be squeezing. Squeezes are indicative of periods of low volatility and are typically succeeded by periods of high volatility. The longer the squeeze the higher the probability of a strong breakout that defines the direction of the trend. Even though this technical index does not necessarily specify whether ADA will move up or down, the lower and upper band could be used to estimate where it is heading next. Thus, ADA’s next major price swing will depend on its ability to trade outside of the trading range between $0.037 and $0.043. Breaking below support could take it to $0.033 or $0.028. Meanwhile, surging above resistance will likely let it test the next price hurdles at $0.048 and $0.055. ADA/USD by TradingView Overall sentiment Cardano is moving forward as it makes huge upgrades to its protocol that plans to make it more decentralized. On its way to decentralization, IOHK is set to establish different partnerships that will put this cryptocurrency on the path to mainstream adoption. Even though the firm has been known for slow development and constant product delays, the latest work is setting ADA on track. Now, it remains to be seen whether investors will value the effort put behind Cardano in the last few months increasing the demand for ADA. The post Cardano moves towards decentralization as its price consolidates appeared first on CryptoSlate.

Is decentralization the future of social media monetization?

Two weeks ago it was announced that IOV Labs, the parent company of smart contract platform RSK, has acquired Latin American social media network, Taringa. With 30 million users, Taringa is the fourth largest social media operator in the region. In the press release accompanying the announcement, IOV Labs alludes to its ambition to introduce a decentralized sharing economy to Taringa via the RSK platform. It seems likely that such a sharing economy would involve the use of a token for the social media platform, that would be used to reward users for uploading unique content. This would mark a stark contrast from the current social media monetization model, which relies heavily on advertising revenues generated from targeted adverts. The Taringa announcement highlights the flaws of the existing model, including the well-documented privacy breaches and censorship controversies that have plagued the likes of Facebook and Twitter over recent years. At the same time, it touches on the fact that Bitcoin and blockchain have not broken into the mainstream in the way that many people anticipated. A new way forward for social media? Of course, privacy scandals aren’t the only reason Facebook has dominated headlines over recent months. The tech giant has been entangled in a regulatory spider web ever since it unveiled plans to introduce the Libra cryptocurrency. However, the intent of Libra is far from the same as IOV Labs’ plans for Taringa. The Libra website sets out a vision that addresses a real problem in the world today – that of financial inclusion. There are an estimated 1.7 billion unbanked people in the world, and Facebook believes it’s better equipped to address the problem than the current global financial system. Related: Libra may be canceled due to regulatory concerns, Facebook tells investors But therein lies the problem. Libra intends to infringe the boundaries of existing financial infrastructure, which is causing consternation among regulators. Facebook hasn’t indicated that introducing Libra will change its monetization model in any way. Instead, it represents an expansion into the financial markets. Furthermore, Facebook’s track record on privacy gives regulators even further cause for concern. The company already has an iron grip on our personal and social data. Should it have control over our finances too? In contrast, the intent of IOV Labs towards Taringa is taking a very different approach that isn’t likely to upset the regulators — a monetization model based on user-generated content. It’s fortunate for IOV Labs that Taringa users are already switched on to this model. Back in 2015, Taringa established a partnership with the Xapo wallet so that users could get paid in Bitcoin for uploading unique content to the platform. So, it’s not quite as experimental as it may first appear. It’s also worth noting that the RSK platform is developed on the Bitcoin network, meaning the company can leverage the reputation and security of Bitcoin. Should Facebook change direction? If RSK can make a success of this model with Taringa, then perhaps it’s time for Facebook to re-examine its business plan. After all, the platform has suffered a tremendous loss of trust among users over recent years, with the Cambridge Analytica scandal proving particularly damaging. Related: Disgraced Data Analytics Firm Cambridge Analytica Is Halting Its Plans for an ICO It’s true that the idea of a decentralized sharing economy may be less profitable than harvesting and selling user data. However, Facebook has given nobody any reason to believe that it will make a trustworthy financial services provider. The Taringa model could ultimately help Facebook to regain trust and restore the privacy of users across all of its platforms, which include Instagram and WhatsApp. Furthermore, it also means that the company could assure lawmakers that its blockchain plans are a clear departure from the data harvesting approach that’s caused so many problems. The post Is decentralization the future of social media monetization? appeared first on CryptoSlate.

With Bitcoin And Decentralization Geographic Borders Become Less Relevant

The recognized investor and Bitcoin (BTC) supporter Tim Draper considers that geographic borders become less relevant with this cryptocurrency and its decentralization.  He wrote that in a recent […] The post With Bitcoin And Decentralization Geographic Borders Become Less Relevant appeared first on UseTheBitcoin.
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Fed Market Manipulations Prove The Financial System’s Need For Decentralization

Over the last few weeks, the U.S. Federal Reserve has enacted policies that will have critical repercussions for the economy. These maneuvers cast a spotlight on the role of central and private banks, and provide an opportunity to think about how decentralized technologies can restore fairness to U.S. consumers. On September 18th, the Federal Open Market Committee announced a reduction in the federal funds rate by 0.25 percent to a range of 1.75 percent to 2 percent. This was the Fed’s second rate cut in as many months. Since 2008, interest rates have languished between 0 and 2.5%. U.S. consumers are accustomed to minuscule returns on their savings accounts and certificates of deposit (CDs), but even so, this latest reduction is yet another blow to their personal finances and savings. While consumers count their pennies, low interest rates free up cost of capital for banks’ other lucrative revenue streams, such as consumer credit card lending, investment banking and trading operations. Indeed, banks are now more profitable than ever – thanks in large part to President Trump’s tax cuts – yet they refuse to reduce the high interest they charge consumers on their credit cards. The very same week as trimming rates, the Fed announced it was injecting $280 billion dollars into the securities repurchase, or “repo,” market so that banks could meet their liquidity needs. Expected to continue until October 10th, this is the Fed’s first major repurchase market operation since the 2008 crisis and contradicts its statements that it will continue to reduce its treasuries balance sheet of almost $4T. Banks’ need for emergency cash infusions testifies to their enduring fiscal irresponsibility. In the years after the housing bubble, the Fed propped up banks’ balance sheets by buying up their toxic mortgage-backed securities. Despite several years of receiving this free money, banks have used their cash reserves for other profitable purposes (as illustrated above) and negligently allowed their net balance to dwindle below acceptable levels. Some would say the Fed’s repo payments are a natural result of post-2008 capital reserve requirements that banks face, and that such measures support economic stability. However, there is nothing “stable” about a system in which the Fed holds rates artificially low and gives free money to banks, allowing them to make obscene profits while saddling consumers with debt and obstructing their ability to save. On the contrary, that is a system ripe for disruption.  The Role of Blockchain and Digital Assets in ‘DeBanking’ the Economy  Blockchain technology, digital assets, and decentralized finance (“DeFi”) provide the opportunity to completely reframe how the world looks at banking and financial services – and in all likelihood, the Fed is unwittingly accelerating the demand for these new technologies with its market manipulations. For example, by cutting rates and impairing the ability of depositors to earn sufficient interest on their savings, the Fed is spurring consumers to look elsewhere for yield. Bitcoin, Ether, and other non-pegged digital assets allow consumers to diversify their wealth and hedge against greenbacks. obscene pIt’s no wonder that 43% of young Americans, many of whom are burdened by student loans and worried about their savings, think cryptocurrencies should “replace” our current financial system, according to a recent study. In parallel, the Fed’s injection of billions of dollars into banks’ coffers via the repo market begs an obvious question: why does the Fed give cash to banks, but not directly to U.S. citizens or other organizations? The banks’ stranglehold on newly minted currency will continue to erode faith in the dollar and increase the popularity of stablecoins like USD Coin and TUSD. These dollar-pegged digital assets are a stable medium of exchange – and unlike dollars, they are cryptocurrencies that run on the blockchain and are protected by private keys, enabling more unmediated peer-to-peer lending and borrowing services, eliminating the need for banks and other toll-collectors. The crypto revolution is still in its early stages: there are less than $500B in total assets on the Blockchain, a small sliver of the $120T global economy. But the wheels are already in motion, and what began as a decentralized movement is now attracting corporate and government backers. From Facebook’s Libra and JP Morgan Coin to the growing interest of central banks, large institutions are now competing with decentralized protocols over the future of cryptocurrency. While it’s anybody’s guess which companies or protocols will emerge victorious in the battle over cryptocurrency, one thing is certain: the mutual interdependence of the Fed and too-big-to-fail banks will generate more skepticism of the financial system and increase demand for decentralized solutions.   The author is the CEO of Celsius Network.  We not accept any payment or financial benefit from expert guest authors. If you are a blockchain expert with an interest in sharing your knowledge, please contact our Managing Editor, Jon Rice, via email at editor AT   The post Fed Market Manipulations Prove The Financial System’s Need For Decentralization appeared first on Crypto Briefing.

Cardano to push for decentralization, performance through hardfork

Cardano’s Charles Hoskinson stands as one of the most active entrepreneurs when it comes to information sharing about cryptocurrency and new developments within the ecosystem. Although Hoskinson leads this development as a one-man show, he featured on Anthony Pompliano’s podcast to give his take on the thriving crypto-ecosystem. The crypto-enthusiast spoke about his various business […] The post Cardano to push for decentralization, performance through hardfork appeared first on AMBCrypto.
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For 280 characters, the Twitter ‘inhabitants’ are sometimes even too chatty: so, here are the passions around the new HTC phone, Vitalik Buterin thoughts on the convenience of crypto for people, and the BCH one-year birthday

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Opera Brings BTC to Android; Now Looking to Add TRON

Who would have known Opera and bitcoin could go so well together? We’re not necessarily talking about classically trained singers that wear Viking horns and hit high notes, but rather the Norwegian financial platform that’s been touting the addition of bitcoin to its Android app since July of 2018. Opera and BTC: A Perfect Match? The app was launched privately and was later available to the public in December. Opera inherently became one of the first browsers to support bitcoin directly, and customers did not need any extensions or follow-up downloads to engage in crypto transactions. From there, bitcoin support came to the Opera iPhone app. Opera presently has about 350 million users, and many enthusiasts see this as a prime movement in the fight to make bitcoin mainstream. In a blog post, the company writes: With this release, Opera opens its crypto wallet to the world’s most popular blockchain, making it possible to send and receive BTC directly from the browser the way one would with an image or a music file. This means anyone can now not only send bitcoin and Ethereum to another person but can also use it while interacting with websites to pay for goods or services. Up to this stage, Opera only provided support for Ethereum, the world’s second-largest cryptocurrency and a primary competitor to bitcoin. However, the company is also introducing plans to support Tron in the coming months. The last few weeks have marked by a whole new list of platforms or companies showing support for cryptocurrencies they otherwise were ignoring. One such example comes in the form of the new HTC smartphone known as Exodus 1s, which can allegedly support a full bitcoin node. This means that the phone can hold the entire blockchain ledger. Other examples include Electrum, a new bitcoin wallet which has recently added the Lightning Network to its platform. The Lightning Network is designed to assist with scalability on the bitcoin blockchain. While bitcoin is the oldest, largest and arguably the most popular of the world’s cryptocurrencies, it often lacks the up-to-date technology of its newer altcoin counterparts. Thus, it suffers from slow transaction times and smaller blocks. How Lightning Is Making Things Simpler The Lightning Network initiates micropayments that occur off-chain to ensure that they are pushed through quickly. Electrum’s addition of Lightning is likely to enable faster speeds for customers and ensure that payments are pushed through with ease. We’ve also received word of a new startup called Moon, which allows Amazon customers to purchase goods and services from the online retailer with crypto. The application also works through Lightning-based technology and appears to recognize the Amazon page once you log in. When you’re ready to check out, it provides you with a crypto pay option that shows how many available funds you can spend. The post Opera Brings BTC to Android; Now Looking to Add TRON appeared first on Live Bitcoin News.
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Opera Continues Bullish Crypto Mainstream Drive With Bitcoin Payments

Browser minnow Opera is ramping up cryptocurrency support for Android users in version 54, which has just been released on Tuesday. Among a host of other cosmetic improvements and a new UI, this latest release improves upon the current crypto wallet with support for both Bitcoin and Tron payments. Ethereum has been the staple payment […] The post Opera Continues Bullish Crypto Mainstream Drive With Bitcoin Payments appeared first on

Carson Wentz Gossip Turns Eagles Into Daytime Soap Opera

After the beating the Dallas Cowboys gave the Philadelphia Eagles Sunday night, fans were probably wondering how things could get worse. When they woke up Monday morning, they found out. It appears that at least one fool decided to burn his Carson Wentz jersey following the loss, and – more significantly – Alshon Jeffery is […] The post Carson Wentz Gossip Turns Eagles Into Daytime Soap Opera appeared first on

The Ethereum Ecosystem: Still Relevant After All These Years

Ethereum first went live in 2015, and since then, it’s become one of the market’s top coins. And while four years may not be a lot in most markets, in crypto it’s a lifetime. For Ethereum, it has been quite a ride. With a market cap of $19 billion, Ethereum is the second largest cryptocurrency in existence, and recent reports show that it provides a benchmark for the market. Of course, there’s much more to its success: the Ethereum ecosystem is thriving in its own right. In short, Ethereum is one of the most extensible blockchains. It offers developers the opportunity to create tokens, dApps, collectibles, financial applications, and more. Plus, Ethereum itself will soon be better than ever. Here’s what the Ethereum community is up to right now—and what the Ethereum ecosystem has to offer. Dominance Over dApps and Tokens Ethereum currently leads the dApp market with its sheer number of listings. Right now, it has a total of 2000 dApps—four times more than TRON or EOS, its closest competitors. Ethereum also closely matches those blockchains in terms of dApp volume—each platform handles about $10 million of crypto through its apps in a typical day.   Daily dApp transaction volumes in dollars, via DAppReview   To be fair, EOS and TRON dominate in terms of dApp users and transactions (although many of these are simple gambling apps). Still, Ethereum has a few notable apps in those measures: MakerDAO attracted 2200 users on Monday, making it the third largest dApp by user count. Meanwhile, dYdX, a derivatives platform, handled $371,000 on Monday—making it the 9th largest app by that metric. Ethereum’s token standards are also incredibly influential. Of the top 50 cryptocurrencies by market cap, at least 20 are based on Ethereum’s ERC-20 token standard—including big names like BAT and LINK. Plus, Ethereum’s non-fungible ERC-721 standard has begat collectible items like Decentraland properties and CryptoKitties. New Opportunities For Investment As Ethereum matures, there might be new ways to invest. Recently, the CFTC declared that Ethereum is a commodity, meaning that ETH futures may become an option for institutional investors in the future. It’s conceivable that Bakkt might add ETH futures alongside its BTC futures—though it hasn’t said so explicitly. Additionally, there are some retail platforms that already trade Ethereum futures, such as BitMEX and Kraken. These options attract speculative investors who might not trade on the crypto market itself. Even though futures don’t affect Ethereum’s value directly, they bring value into the crypto ecosystem and facilitate price discovery. There are other investment opportunities as well. MakerDAO, for example, allows you to lock up your Ether as collateral and create Dai stablecoins in return. Meanwhile, peer lending platforms like ETHLend allow you to earn interest by lending out Ether. Suffice to say, there’s a lot you can do with your Ether holdings. Preparing For Ethereum 2.0 Ethereum’s next big milestone will be Ethereum 2.0, which will introduce staking, which allows coinholders to earn rewards. It will also improve scalability through features like sharding, which will allow the blockchain to handle many more transactions. Though Ethereum 2.0 is a multi-year effort, staking should be available in the next few months. At the moment, different Ethereum development groups are running separate testnets. These became interoperable in early September, and according to Ethereum’s creator, Vitalik Buterin, a public network is rapidly approaching. This will be the “last major milestone [before] the network,” Buterin stated during a recent event in Hong Kong. Buterin has also suggested that the upgrade will be seamless. In a post on, Buterin suggested that app developers will need to migrate, but coinholders won’t need to do anything at all: “You may want to move your funds into [an ETH2] wallet eventually, but you do not strictly have to and there is no time limit,” he wrote. Can Ethereum Stay Relevant? Of course, not everyone is happy with Ethereum. Some dApps, such as Ethermon, have moved to blockchains like Zilliqa due to the promise of faster transaction speeds. Meanwhile, some projects with ERC-20 tokens have migrated to other platforms like Binance Chain. Finally, some critics believe that sharding is not secure. But despite criticism, Ethereum probably won’t go away. Its brand, market standing, its dominance over dApps, and its ability to drive hype for version 2.0 seem to be a winning combination. Though it has many competitors, Ethereum has first mover advantage and the biggest developer community in crypto —giving it a head start and making it the favorite to continue to tower over the competition.     The post The Ethereum Ecosystem: Still Relevant After All These Years appeared first on Crypto Briefing.
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