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Rwanda Studies CBDCs To Minimize Transaction Cost and Maximize Output

The Rwandan Central Bank is interested in exploring central bank digital currencies to reduce the costs associated with transacting by optimizing efficiency. As per BNN Bloomberg, August 22, 2019, Rwanda’s Central Bank looks to authorities in Canada, Singapore, and Holland for inspiration as they have successfully studied the applications of blockchain. More Central Banks ComeRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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HitBTC Massively Lowers Its Trading Fees

Coinspeaker HitBTC Massively Lowers Its Trading FeesHitBTC which is a leading cryptocurrency exchange just announced in a press release that they are lowering the trading fees on their platform to a “market-leading lows”. By doing this, HitBTC has repositioned as one of the most beneficent places to trade crypto. The exchange has come up with a “maker-taker” fee tier system. This is a very common practice in the industry which, basically, means that the users who generate more liquidity, get rewarded.“When a user places a buy or sell order that is outside of the existing range on the order books, they are in effect making liquidity. By doing this they are paving the road for further asset movement on the exchange, whereas, if a user completes an order that already exists on the books, they are in effect taking liquidity off the board,” reads the release.Considering all this, HitBTC wants all of its users to receive benefits when trading with them, so they massively lowered the fees for operations under 10 BTC. Previously, the fees for makers were 0,1% and 0,2% for takers, but now these figures have been lowered to 0,07 to both. That makes it a massive rate cut, especially for takers.Here is an explanatory image of how the tier system is going to work:Photo: HitBTC BlogHowever, to be eligible to use this fee system, you have to have an account with 30 days of trading volume. That’s not 30 days of account existence, but 30 days of actual trading. Also, only upgraded accounts can apply to this tier system. As for starter and general accounts are left with the old fee system which is a fixed rate of 0,1% for Makers and 0,2% for Takers, as mentioned above. HitBTC backs it’s incentive by saying that they want to “reward community members for high volume trading.”Example: The user buys 15 EOS for 1 LTC and at the time of the trade 1 EOS is equivalent to 0.001 BTC. This means 0.015 BTC will then be added to their 30-day trade volume total.HitBTC is one of the leading cryptocurrency exchanges and started operating as early as 2013. The exchange offers more than 800 crypto trading pairs. HitBTC has a daily volume of almost $700 million and the most used trading pair is BTC/USDT with a daily volume of $241 million. It also offers trading pairs with cryptocurrencies such as Ethereum, Litecoin, Tron, EOS, and others.HitBTC Massively Lowers Its Trading Fees
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PrimeXBT Lowers Fees on Forex and Crypto

VICTORIA, Seychelles, Aug. 21, 2019 /PRNewswire/ -- PrimeXBT, a Bitcoin-based margin trading platform offering up to 500x leverage across forex, stock indices, commodities, and cryptocurrencies, announced that it has lowered its already competitive fees, becoming one of the most attractive trading platforms on the market today. The new fee structure includes a reduction in overnight financing fees on all crypto trading pairs, as well as a 10x reduction in trading fees across all forex pairs. "We are delighted to offer new reduced fees to PrimeXBT platform users. We believe that traders should focus on trading opportunities rather than on costs. Oftentimes, amazing profit opportunities are being missed only due to unreasonably high fees. And we don't want that – we are here to provide the best possible trading environment for our customers," PrimeXBT officials commented. Trading Fees on Forex Currency Pairs Reduced by 10x The forex market is the largest and most liquid market in the world, making forex ideal for intra-day trading with leverage. PrimeXBT offers 18 of the world's most popular forex currency pairs. As of August 20th, trading fees across all forex pairs have all been reduced by a factor of 10x. Trading fees on spot contracts for gold and silver have also been lowered by 10x. The new commission structure allows high frequency traders to earn more profit on each successful position, and grow their capital at a faster rate. Symbol Trading fee Financing/day Long Financing/day Short AUD/CAD 0.001% -1 points -2.8 points AUD/CHF 0.001% 3 points -8.2 points AUD/JPY 0.01% 1.9 points -6.89 points AUD/USD 0.001% -3.84 points -1.23 points EUR/AUD 0.001% -14.98 points 5.44 points EUR/CAD 0.001% -12.34 points 5.04 points EUR/CHF Full story available on Benzinga.com
Benzinga

Bitcoin exchange HitBTC overhauls maker-taker fee tier system; reduces fees

Bitcoin exchange HitBTC overhauls maker-taker fee tier system; reduces fees 🟀 CryptoNinjas HitBTC, a bitcoin and cryptocurrency exchange company founded in 2013, has announced the overhaul of its maker-taker fee tier system which includes significantly reduced transaction fees. The old tier system had 15 levels, ranging from 30-day trading volumes of less than 100 BTC to volumes of greater than 6 million BTC. The new tier system […] Bitcoin exchange HitBTC overhauls maker-taker fee tier system; reduces fees 🟀 CryptoNinjas
CryptoNinjas

TomoZ goes live: a frictionless protocol for paying transaction fees in any token issued over TomoChain

TomoChain announced it has launched TomoZ, an on-chain protocol that aims to improve how people pay transaction fees when sending tokens. The ‘Z’ in TomoZ stands for zero friction. Typically, blockchains have always made users pay transaction fees using the native blockchain’s currency, creating additional friction. Often this means that users collect dust in various wallets designed to support cryptocurrencies built on different blockchains. The goal of TomoZ is to eliminate the need for end-users to collect dust and to improve the experience of sending tokens. For example, if you send an ERC20 token from one Ethereum wallet to another, you have to hold ETH in order to pay gas fees or transaction fees. There was some discussion back in February 2018 on Reddit about a proposed change for Ethereum that would allow users to pay fees with ERC20 tokens. However, this idea hasn’t been implemented yet. Up until this point, this same transaction fee model applied to TomoChain and TRC20 tokens. With the introduction of TomoZ, however, users can now pay for transaction fees in a new token standard: TRC21. For anyone using TRC21 tokens, it’s possible to pay all on-chain fees with the token they are sending. In other words, there is no need to hold TOMO in order to send TRC21 tokens on TomoChain. 🌟The #TomoZ mainnet is LIVE now! Issue your own #TRC21 token in minutes, and let token holders pay transaction fees in the token itself! ⚡️TomoIssuer: https://t.co/Tfl2yttNxW⚡️How to deploy a TRC21 by #TomoWallet: https://t.co/9VNbyQwghC pic.twitter.com/HzRN3UJdS5 — TomoChain (@TomoChainANN) August 20, 2019 TRC21 Token Creation and Issuance Although end-users don’t necessarily need to hold TOMO, TomoZ is structured so that it requires the TRC21 token issuer to pay TOMO to cover fees required by TomoChain’s masternodes. This is done through a TomoIssuer contract. Another goal of TomoZ is to simplify the process of token creation and issuance. TomoZ provides a dashboard for any token issuer who wants to issue a TRC21 token on TomoChain. To issue a token, only a few basic parameters (token supply, token name and minimum transaction fee) need to be configured. No coding experience is required to launch a new token. The project team has uploaded a tutorial video showing how it’s possible to create and issue a TRC21 token on TomoChain’s testnet. TomoZ also takes into account the possibility that TRC21 token issuers might not have paid a sufficient amount of TOMO to cover all end-user transaction fees. In this scenario, an end-user would have to revert back to the old transaction fee payment method by depositing more TOMO to the TomoIssuer contract to cover the costs of on-chain operations. Long Vuong, CEO and founder of TomoChain states, “Ease of use is one of the obstacles that is holding blockchain technology back from mass adoption. TomoChain’s recently launched TomoZ protocol is an attempt to solve that problem, by creating a frictionless experience for average users.” The post TomoZ goes live: a frictionless protocol for paying transaction fees in any token issued over TomoChain appeared first on CryptoSlate.
Cryptoslate

Apple Is to Unveil Apple TV+ in November with $9.99 Fee after Free Trial

Coinspeaker Apple Is to Unveil Apple TV+ in November with $9.99 Fee after Free TrialIn March 2019, Apple said that it plans to introduce a streaming service dubbed Apple TV+. However, no details were revealed in that announcement. Now, the latest report by Bloomberg suggests that Apple wants to roll out the Apple TV+ movie and TV subscription service by November. In that context, the company has committed over $6bn for original shows and movies in streaming wars ahead of that launch.The ballooning budget strives to catch up with the leaders in this space including Netflix, Disney, and AT&T-owned HBO. For many years, the iPhone maker has been preparing to dive into the media industry. It even hired two renowned executives from Sony Pictures Television, Zack Van Amburg and Jamie Erlicht, to lead the charge in 2017.Initially, the two employees were given $1 billion to commission original content in the first year. However, the budget has now grown to surpass $6 billion. For instance, the company has spent hundreds of millions on “The Morning Show” that features Reese Witherspoon, Jennifer Aniston, and Steve Carell. It is believed that the amounts per episode are higher than those of “Game of Thrones”.  And “Game of Thrones” reportedly cost $15 million on average per episode of the final season.The company plans to introduce several shows and then expand its catalog more often in the coming months. Unconfirmed reports suggest that a free trial is likely while Apple expands its library. Once it establishes itself in the market, the company may charge monthly subscription fees of $9.99. That figure comes to mind as it aims to reach $50 billion in service sales by 2020.The StrategyWith its entry into video subscriptions, Apple is considering different release strategies for shows. It thinks of offering the first three episodes of some programs and then follow it up with weekly installments. Netflix releases whole seasons at once, while AT&T’s HBO and Disney’s Hulu often release episodes weekly. The new TV service is scheduled to launch worldwide in more than 150 countries.Apple TV+ will join Apple News+, Apple Music, the upcoming Apple Arcade gaming service, and iCloud storage subscriptions services existing in Apple’s portfolio. The company also gets recurring revenue from products like its bank-operated iPhone upgrade program and AppleCare extended customer service. Revenue may also start coming from the Apple Card that is to become a new word in the sphere of internet banking.If Apple sets the pricing for Apple TV+ at $9.99 a month, it will match the price set for Apple News+ and Apple Music. Amazon Prime and Netflix charge just $8.99 while Disney+ aims at $6.00 when its service debuts in November. Analysts believe that Apple TV+ may top 100 million subscribers in the next 5 years. That, in turn, will pose a major challenge to Amazon and Netflix.Apple Is to Unveil Apple TV+ in November with $9.99 Fee after Free Trial
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Bitcoin, Bakkt and Ethereum Classic Headline Volatile Week for Crypto Industry

Coming off one of its worst declines since the 2019 bull market began, bitcoin appears to have found support above $10,000, a psychologically significant level that has […] The post Bitcoin, Bakkt and Ethereum Classic Headline Volatile Week for Crypto Industry appeared first on Hacked: Hacking Finance.
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Waves (WAVES) Decentralized Exchange Announces ERC-20 Support

Waves, a decentralized platform building operability for Web 3.0 protocols, has officially announced support for the ERC-20 token standard for projects launched on Ethereum. As per the press release, voting for the first listing occurred last year, and Bancor (BNT) won by a significant margin. As of August 22, 2019, BNT was trading on theRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Ex-Overstock CEO Byrne Talks Timing Of Resignation With Fox, 'Political Espionage'

Former Overstock.com Inc (NASDAQ: OSTK) CEO Patrick Byrne stepped down Thursday after two decades of running the company. His resignation is quite bizarre and includes references to the "deep state" and Clinton family. Hours after his resignation, the executive appeared on Fox Business' "Bulls & Bears" to discuss his decision.  The Timing Overstock held a party Tuesday to celebrate its 20th anniversary, and now is a "perfect time" to resign, as everything is in a "perfect place," Byrne told Fox Business. Most notably, the tZero blockchain business was just voted as a potential winner in the ...Full story available on Benzinga.com
Benzinga

One of the Top 100 Coins is Up 220% today. What’s the Deal with it?

A controversial cryptocurrency, RChain is currently showing massive growth in its trading volume. It is ranked 74th on Coinmarketcap with 220 percent growth in the past 24 hours. Zero Trading Volume on Some Exchanges According to the data provided by Coinmarketcap (CMC), RChain (RHOC) cryptocurrency is exhibiting the aforementioned price surge on August 23, 2019. RHOC is currently trading at $0.188 against the US Dollar and has a the market cap of $70,373,643. It is interesting to see that on August 22nd, this cryptocurrency was at $0.057 but it suddenly skyrocketed to over $0.188 on August 23rd. RChain Crypto | Coinmarketcap RChain runs on top of Ethereum platform and is available on 7 crypto exchanges in different trading pairs. Presently, RChain is actively trading on Bitinka, KuCoin, CHAOEX, BitMarket, Bilaxy, Hotbit and CoinPlace cryptocurrency exchanges with a very low 24-hour trading volume. A few exchanges are even showing zero trading volume of the coin. RChain Market | Coinmarketcap Although it is a top 100 coin today, such a sudden spike in the trading volume of a cryptocurrency is unusual it is bound to make the crypto community skeptical. This cryptocurrency was at $2.90 in January this year with the 30th rank on CoinMarketCap. Fishy Behaviour According to the earlier reports, RChain Cooperative claimed that the RChain organization was facing bankruptcy. In early 2019, it was asserted that RChain’s liabilities were exceeding its liquid assets, thereby making it “Functionally bankrupt”. As per another post in April 2019, RChain informed its community that the company suffered a scam. Accordingly, KuCoin exchange (which is one of the exchanges which listed RHOC token) blocked the crypto wallet address of the scammers. RHOC in its blog summarized the scam as follow; “The RHOC being held by the scammers will not be honored upon reaching Genesis”. Th reason behind the coin’s sudden growth is unclear, but it is to be noted that this behaviour is typical of coins that are involved in pump and dump schemes. So readers, what do you think about RHOC’s token spike? Let us know in the comment below Image Source – Chainrock medium blog The post One of the Top 100 Coins is Up 220% today. What’s the Deal with it? appeared first on Coingape.
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15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream

By CCN Markets: Ethereum Classic (ETC) is currently on a massive bull run this week, increasing its price by 30% in three days. The cryptocurrency continued its surge steadily today, skyrocketing its value by over 15% today. $ETC #EthereumClassic making a bit of a commotion. Is this finally the start of $altszn ? #crypto #bitcoinboom […] The post 15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream appeared first on CCN Markets Ethereum Classic (ETC) is currently on a massive bull run this week, increasing its price by 30% in three days and by over 15% today.
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