Stablecoin news

A cryptocurrency with a fixed price, usually pegged to a stable non-volatile asset, such as the US dollar.

World latest news

UpStake is Redefining the Crypto Industry with a Proof-of-Burn Stable Coin

An overwhelming cryptocurrency project UpStake officially launched last year, is all set to take the global crypto sphere by storm. Unlike hundreds of crypto ventures that fail to make any impact, UpStake is committed to delivering a stable digital currency that will pave the way for mass adoption around the world. London, UK – Jan 16, 2019 London-based crypto startup UpStake is well on its way to transforming the global cryptocurrency industry by destroying many of the limitations that have stifled growth for years. Launched in 2018, this promising drive is focused on ensuring mass adoption of cryptocurrency by providing a usable, stable form of digital currency to the crypto and blockchain communities across the globe. This proposed blockchain ecosystem is built around UpStake tokens (UPS), the platform’s proprietary token. UpStake asserts that these tokens have been designed to increase in value over time, and set the stage to build great products and services which result in better user experiences. In order to ensure continuous increase in value of UPS over time, UpStake has built a Proof-of-Burn model that burns a certain percentage of tokens sold through their exchange. This model helps create the value that contributes to the ever-growing price point of the token. It not only enables the token price to increase every hour, but also keeps it well protected from market volatility. Highly volatile and unregulated markets have so far obstructed the path of mass cryptocurrency adoption. In order to eliminate this concern and enable mass adoption, UpStake relies on token features such as limited circulation, hourly increase of value, proof of burn, and anti-exchange manipulation.   Having developed a product that is immune to market-related uncertainties, UpStake is confident in bringing about a paradigm shift in the crypto world’s operations.  Individuals and businesses using UpStake can now gain access to an asset with a store of value that can be safely used in day-to-day transactions. This will undoubtedly play a critical role in bringing cryptocurrency to conventional shopping, employee payroll, gaming, online gambling, network marketing, and much more. “Knowing the future token price doesn’t create value,” said UpStake global influencer manager Seth Fontaine. “It creates a platform of transparency, and a foundation to build great products and services with an even better user experience than traditional fiat/banking.” The UpStake platform also includes useful features such as its own exchange designed to combat market manipulation, a micro-networking investing product known as Edge, an affiliate program, and upcoming projects such as a dedicated UpStake marketplace and peer-to-peer transfer capabilities. To find out more, please visit https://upstake.com/ About UpStake: UpStake is an exciting cryptocurrency project focused on delivering a stable digital currency that will pave the way for mass crypto adoption around the world. UpStake accomplishes this feat with a Proof-of-Burn model that periodically burns a certain percentage of tokens sold through their exchange. Press Contact: Seth Fontaine Global Influencer Manager Telegram: @sethfontaine WhatsApp: +1 (909) 240-2158 seth@upstake.com The post UpStake is Redefining the Crypto Industry with a Proof-of-Burn Stable Coin appeared first on ZyCrypto.
ZyCrypto

Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin

UpStake, an exciting cryptocurrency project officially launched last year, is all set to take the global crypto community by storm. Unlike hundreds of crypto ventures that fail to make any impression, UpStake is dedicated to delivering a stable digital currency that will pave the way for mass adoption around the world. London, UK – Jan 16, 2019 London-based crypto startup UpStake is well on its way to revolutionising the global cryptocurrency industry by eliminating many of the limitations that have stifled growth for years. Launched in 2018, this promising initiative is focused on ensuring mass adoption of cryptocurrency by providing a usable, stable form of digital currency to the crypto and blockchain communities across the globe. This proposed blockchain ecosystem is built around UpStake tokens (UPS), the platform’s proprietary token. UpStake asserts that these tokens have been designed to increase in value over time, and set the stage to build great products and services which result in better user experiences. In order to ensure continuous increase in value of UPS over time, UpStake has built a Proof-of-Burn model that burns a certain percentage of tokens sold through their exchange.  This model helps create the value that contributes to the ever-growing price point of the token. It not only enables the token price to increase every hour, but also keeps it well protected from market volatility. Highly volatile and unregulated markets have so far obstructed the path of mass cryptocurrency adoption. In order to eliminate this concern and enable mass adoption, UpStake relies on token features such as limited circulation, hourly increase of value, proof of burn, and anti-exchange manipulation.   Having developed a product that is immune to market-related uncertainties, UpStake is confident in bringing about a paradigm shift in the crypto world’s operations.  Individuals and businesses using UpStake can now gain access to an asset with a store of value that can be safely used in day-to-day transactions. This will undoubtedly play a critical role in bringing cryptocurrency to conventional shopping, employee payroll, gaming, online gambling, network marketing, and much more. “Knowing the future token price doesn’t create value,” said UpStake global influencer manager Seth Fontaine. “It creates a platform of transparency, and a foundation to build great products and services with an even better user experience than traditional fiat/banking.” The UpStake platform also includes useful features such as its own exchange designed to combat market manipulation, a micro-networking investing product known as Edge, an affiliate program, and upcoming projects such as a dedicated UpStake marketplace and peer-to-peer transfer capabilities. To find out more, please visit https://upstake.com/ About UpStake: UpStake is an exciting cryptocurrency project focused on delivering a stable digital currency that will pave the way for mass crypto adoption around the world. UpStake accomplishes this feat with a Proof-of-Burn model that periodically burns a certain percentage of tokens sold through their exchange. Press Contact: Seth Fontaine Global Influencer Manager Telegram: @sethfontaine WhatsApp: +1 (909) 240-2158 seth@upstake.com This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research. The post Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin appeared first on NullTX.
NullTX

Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned The post Crypto Venture UpStake is Redefining the Industry with a Proof-of-Burn Stable Coin appeared first on CCN
CCN

How MakerDAO’s Decentralized DAI Stablecoin Token Looks to Oust the Controversial Tether (USDT)

The previous year has been marked by a lot of things, including high-profile crypto exchange hacks, two market crashes, a year-long bear market, and of course — stablecoins. 2018 has been quite an eventful year for fiat pegged coins, which started emerging due to high volatility of regular cryptocurrencies. The most popular stablecoin, Tether (USTD) was also a center of a large controversy because it was unable to provide insight into its bank accounts and confirm that it can actually back all of its circulating coins. However, a number of other stablecoins emerged, threatening to take its place if Tether doesn't start providing regular audits. USD Coin (USDC), Paxos Standard (PAX), Gemini (GUSD), and TrueUSD, to name a few, are all quite reputable compared to USDT. While none of them are truly decentralized due to the fact that they depend on fiat currencies in possession of their parent companies, they still provided much-needed stability in difficult times that crypto investors had to go through. Still, their connection to fiat money means that they are troubled by a different set of difficulties. While their value may be guaranteed, they often do not comply with AML and KYC procedures, which may lead to the banks suspending accounts if there is suspicion of the coins being used for illegal activities. It is because of this that many view stablecoins as a current alternative to crypto, but not as a long-lasting solution that will lead to the decentralized web, which aims to be controlled by the community. In fact, the only stablecoin that has the real potential while still being fully decentralized is MakerDAO's DAI. How does DAI differ from other stablecoins? While most other stablecoins are backed by fiat currencies, there are also other methods of securing a stable price. One such method would be to control the number of coins in circulation, and some projects are trying to control their value in this way. However, other coins, such as DAI itself, tend to take a different approach and secure their value by relying on other tokens. DAI keeps its value stable by deploying multiple smart contracts in Ethereum's network. Instead of being backed by fiat money, or some other type of physical asset, DAI uses a specific amount of Ethereum obtained through smart contracts to generate its own stable tokens. There are a lot of similarities between DAI and traditional money, although DAI can remain decentralized, as it is fully automated and transparent. This also means that any user can create new decentralized money without any issues, as long as it is secured by the appropriate amount of ETH. The concept was put to the test recently after ETH price dropped from $200 to $86, and everyone was wondering how DAI will react to the change. However, DAI remained stable, as the coins' creation requires that the secured collateral should be at least 166%. In other words, the emission made by users becomes a collateralized debt position, and it starts to liquidate when the index of position coverage falls under 150%. ETH is then sold at a discount, which allows users to cover the debt. Due to the price drop not affecting DAI, the coin inspired a lot of trust in the community, and many have turned to this particular stablecoin as a result. In fact, some estimates claim that the DAI system managed to accumulate around 1.7 million ETH, which translates to $255 million. Meanwhile, the amount of DAI coins has climbed to 70 million, In addition, MakerDAO system also houses another coin — Maker (MKR). This is a token that provides network participants with voting rights, as well as the ability to pay off borrowing rates. The system which combines these two coins has proven to be very stable and practical, with a number of new benefits being available to the users. Can DAI replace ‘centralized' stablecoins? The main question regarding DAI is whether or not it can take the spotlight away from stablecoins that can be affected by banks. There are several problems with this, with the first one being the restriction on the total amount of DAI. For example, using 10% of Ethereum as collateral only generates about $939 million in DAI at the current prices. Of course, this amount can surge together with Ethereum's own value. Then, there is the problem regarding liquidity and DAI's ability to trade, as it is mostly just paired against Ethereum. There is also a noticeable lack of DAI trading pairs against fiat, which means that anyone wishing to cash out has to go through several currencies (and a number of fees) in order to get to their money. Right now, there are only two exchanges that offer these trading pairs — Ethfinex and EXMO. One reason for such a small number of DAI/USD trading pairs is the fact that most of the exchanges are interested in working with institutions, instead of decentralized systems. In other words, despite DAI's advantages, it is difficult for this coin to gain support. Even so, DAI is successfully expanding on its own, albeit slowly. In the last year, MakerDAO ecosystem managed to grow from $3 million to more than $70 million, meaning that the expansion of the ecosystem is still happening.
Bitcoin Exchange Guide

TrustToken AutoSweep Technology to Improve TrueUSD Stablecoin Wallet Address Management

The cryptocurrency company TrustToken has launched a new technology called AutoSweep that would improve the efficiency of smaller exchanges using the TrueUSD stablecoin. The technology has been integrated into a TrueUSD smart contract that would allow platforms to easily manage crypto wallets. In an announcement released on Monday by the company, exchanges would be able to manage clients funds in a much easier way than before. It will allow the exchange to provide clients with a unique deposit address. This deposit address will be much to the exchange’s central wallet. According to the press release shared by TrustToken, AutoSweep will work in a similar way as email aliases. About it they explained: “With email aliases, users can set up multiple outward-facing addresses (e.g. Jeff@amazon.com; Jeff.Bezos@amazon.com ceo@amazon.com) that receive emails into a single inbox. Likewise, AutoSweep allows anyone to create multiple outward-facing deposit Ethereum addresses that automatically settle into a single Ethereum wallet.” In a conversation with CoinDesk, Terry Li, a software engineer at TrustToken commented that the feature can also benefit merchants and other companies that use the TrueUSD token. This will reduce the costs of exchanges since they will not have to aggregate all the users’ tokens into their hot wallet. It also includes less key management. Gas Cosman, the head of product and engineering at TrustToken, mentioned that the new feature and implementation will be reducing fas costs for crypto exchanges and platforms. This means that each transaction will cost less than before to be sent through the network. The information released by TrustToken is very important. The stablecoin market is becoming larger every single month. In 2018, several stablecoins were launched including USD Coin (USDC) or Gemini USD (GUSD). All of them are trying to fight for a spot among the top 20, something that was exclusive to Tether (USDT). Now, USDC was able to grow as well and is currently the 19th largest digital asset. At the moment, TUSD is the 27th largest virtual currency in the market and the third largest stablecoin after USDT and USDC. With this implementation, new exchanges and platforms could start using this stablecoin for their daily activities.
Bitcoin Exchange Guide
More news sources

Stablecoin news by Finrazor

ESSENTIAL

OTC & Media Activity

Finrazor together with ICORating conducted researches and checked the correlation between OTC and mentions of certain words and the originality of the news

Read more
DIGEST

Warren Buffett invests $600M, Coinbase is worth $8B, StarkWare acquires $30M, USD issues over $125M in investments, NXMH obtains Bitstamp, Algorand receives $62M, Thailand alerts against investments in ICOs, Ripple confirms the institutional investments growing, Kevin O’Leary invests $100M, Nouvive provides an investment observation, OK Blockchain Capital conducts an Investment Sentiment Survey, Steve Wozniak discusses his BTC investment

Read more
DIGEST

Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

Read more
DIGEST

Bitfinex introduces a new system, BTCC launches in South Korea, the Bitcoin Unlimited upgrades features, the Maldives denies giving permits, IAMAI attracts big players, Huobi lists stablecoins, Binance opens in Uganda

Read more

Trending

Hot news

Hot world news

BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of Descryptive.com via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
Ethereum World News

Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? https://t.co/0XllsBejUV — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
Bitcoin Exchange Guide

Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on Bitcoinist.com.
Bitcoinist
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.