Crypto Insider https://cryptoinsider.media Welcome to the future of Crypto and Blockchain News. Wed, 15 May 2019 23:47:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.1 https://cryptoinsider.media/wp-content/uploads/2018/09/cropped-fav_crypto-1-32x32.png Crypto Insider https://cryptoinsider.media 32 32 TD Ameritrade shows bitcoin paper trading https://cryptoinsider.media/td-ameritrade-shows-bitcoin-paper-trading/ https://cryptoinsider.media/td-ameritrade-shows-bitcoin-paper-trading/#respond Tue, 23 Apr 2019 22:58:26 +0000 https://cryptoinsider.media/?p=41771 Popular mainstream traditional asset trading platform TD Ameritrade reportedly is testing simulated bitcoin trading, via its paper trading functionality.

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The puzzle pieces appear to be falling into place for the start of a new bull run. Popular mainstream traditional asset trading platform TD Ameritrade reportedly shows simulated bitcoin trading, via its paper trading functionality. This has been reported by Twitter user Cryptopolis, and then further legitimized by Litecoin creator Charlie Lee. 

TD trading oddity

On April 22, Twitter user Cryptopolis posted an exuberant tweet, claiming the occurrence of bitcoin trading on the NASDAQ stock exchange, through the popular traditional asset broker and online trading platform TD Ameritrade. The asset chart showed trading began on April 10, as presented by the enthusiastic user.

In a follow-up tweet, after speaking with the support team at TD Ameritrade, Cryptopolis explained the BTC trade was only a simulated event on TD Ameritrade’s “Paper Trading Platform.”

Customers commonly use paper trading to carry out trading processes with fake money, test various theories, and gain familiarity with markets. In the crypto space, BitMEX’s testnet has similar functionality.

Additionally, Cryptopolis said the TD staff could not give any details on the bitcoin paper trading, and had no information of clarity on CXERX – the exchange listed on the chart up by the BTC ticker.

In the posted conversation, Cryptopolis noted paper trading data often stems from real trading data. Therefore, it is odd to see BTC functioning on the paper trading platform, if no live trading data exists for correlation. TD support staff agreed on a possible guess that the product could be in a testing phase. However, he also mentioned the ticker possibly might be an index or Forex ticker. Another observation was the chart shows prices similar to those seen in bitcoin.

Possible explanation

In the tweet’s comments, The Rythmatician speculated on a plausible explanation for the event. The user said Cryptopolis might have utilized ErisX.

TD Ameritrade previously invested into ErisX, “a regulated exchange for cryptocurrency trading,” TD’s official website states. TD also notes customers cannot, at the time of this writing, use TD for ErisX trading quite yet, due to regulation and development. “Crypto trading will be dependent on when ErisX completes its product development and obtains regulatory approval,” the site explains.

The Rythmatician also speculated that ErisX might have joined forces with Seed CX. Seed CX is “the only digital asset exchange built exclusively for institutional investors,” according to a press release from February 2019.

Litecoin creator Charlie Lee enthusiastically tweets about LTC also being available

Upon further inspection, Litecoin creator Charlie Lee has discovered that a LTC/USD pair is also available within the same paper trading interface of TD Ameritrade. The reactions have been extremely positive, as many Twitter users have anticipated the coming of another bull market which is triggered by this wave of institutional adoption.

Integrating cryptocurrencies into traditional financial trading is a way of legitimizing the cryptographically-secured digital assets and a way of helping more people trust in these investments. Integrating BTC and LTC into TD Ameritrade makes a lot of sense, as the coins are technically similar and represent the most decentralized and trusted assets for quick exchanges and value storage.

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Interview: Yoni Assia on eToroX and the cryptocurrency market https://cryptoinsider.media/interview-yoni-assia-on-etorox-cryptocurrency-market/ https://cryptoinsider.media/interview-yoni-assia-on-etorox-cryptocurrency-market/#respond Tue, 23 Apr 2019 16:00:26 +0000 https://cryptoinsider.media/?p=41781 On April 16th 2019, eToro founder and CEO Yoni Assia has agreed to do an exclusive interview for Crypto Insider at the Paris Blockchain Week Summit. It was on the same day that the global launch of cryptocurrency exchange eToroX took place, and the time seemed right to reflect on how far the social trading […]

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On April 16th 2019, eToro founder and CEO Yoni Assia has agreed to do an exclusive interview for Crypto Insider at the Paris Blockchain Week Summit. It was on the same day that the global launch of cryptocurrency exchange eToroX took place, and the time seemed right to reflect on how far the social trading company has come in terms of integrating digital assets.

To North American audiences, eToro is the European and Asian equivalent of Robin Hood: it offers quick and easy onboarding with your credit card, and allows anyone to start trading stocks, commodities, bonds, and cryptocurrencies. And now that eToroX has gone live, Coinbase has a worthy competitor with a greater experience in the world of trading and stock markets.

In this exclusive interview, eToro CEO Yoni Assia talks about the timeline of the platform’s involvement in crypto, its various phases of switching from CFD (Contract for Differences) to real holdings, and the features of the newly-launched exchange.

On eToroX’s KYC and AML practices in relation to privacy

Another important topic that should be of interest for crypto traders concerns the KYC/AML techniques used by eToroX. As you’re about to find out from this 17-minute interview, you should definitely think twice before sending your mixed bitcoins to a regulated exchange like eToroX. While the outputs are clearly preferable to those that are associated with Silk Road, it’s better to be cautious before making such a transaction that looks suspicious.

As a way of mediating between the requirement for privacy and government regulation, Mr. Assia talks about the fine line between the two concepts and how it’s up to authorities and sovereign individuals to find a middle ground. Until then, regulated cryptocurrency exchanges must comply with the laws of multiple jurisdictions and make sure that all the provisions are being respected, which automatically removes a layer of privacy.

On Yoni Assia’s open approach to eToro and his investments

Anyone using the eToro social trading platform can see that Yoni Assia owns large amounts of Bitcoin and Ethereum, which take up a significant percentage of his portfolio. More specifically, Mr. Assia’s holdings consist of 26.81% BTC and 21.56% ETH.

This long-term investment also functions as a guarantee that the CEO is bullish on the future of crypto’s two larges assets, and believes in the underlying technology much more than he cherishes profits from trading. Furthermore, every used on the platform is able to see which version of Bitcoin Mr. Assia thinks is the real one, how much he believes in Ethereum killers, and which eToro traders he vouches for. As a matter of fact, anyone can go on and copy the trades of Yoni Assia on a smaller scale, which has been one of the features of eToro since day one.

Find out more about eToro and eToroX by watching this exclusive interview.

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The Three Pillars of The Bitcoin Cash Roadmap https://cryptoinsider.media/three-pillars-of-the-bitcoin-cash-roadmap-bch/ https://cryptoinsider.media/three-pillars-of-the-bitcoin-cash-roadmap-bch/#respond Tue, 23 Apr 2019 15:00:38 +0000 https://cryptoinsider.media/?p=41748 Cryptocurrencies, like any technology based projects, are constantly evolving and upgrading. Whether it is to keep up with their competitors, enhance security and performance or increase their user base, crypto projects need to advance. And in this regard, a roadmap is the pathway to the expected evolution. This article will focus on the three pillars […]

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Cryptocurrencies, like any technology based projects, are constantly evolving and upgrading. Whether it is to keep up with their competitors, enhance security and performance or increase their user base, crypto projects need to advance. And in this regard, a roadmap is the pathway to the expected evolution. This article will focus on the three pillars of the Bitcoin Cash roadmap, and its key stages for the development of the project.

Bitcoin Cash (ABC) was spawned in mid-2017 when a group of developers wanted to increase Bitcoin’s block size in order to improve its chances at becoming a transactional currency, as opposed to a store of value. Since the hard fork in August of the same year, the team has continually strived to improve BCH. The corresponding roadmap highlights what is in store for the future of the world’s fourth largest cryptocurrency. There are three pillars of the Bitcoin Cash roadmap, and its contents state:

“This roadmap is intended to provide high-level technical direction, and enable different technical teams to work together towards a common goal for advancing Bitcoin Cash. The role of developers in furthering this goal is to produce high-quality professional software that serves the needs of its users, miners and merchants.”

Bitcoin Cash Roadmap

The three pillars of the Bitcoin Cash roadmap

The improvements in the roadmap have been broken down into three categories based upon scaling, usability and extensibility. According to bitinfocharts.com there are currently 25 BCH transactions per minute. However, the network can currently handle just over a hundred transactions per second. Nonetheless, the team has lofty ambitions of over 5 million Tx/s which dwarfs even Visa.

Instant and secure payments are also high on the list and a target of transaction security within three seconds has been set. An extensible protocol to make future improvements less disruptive is the third pillar of the road map.

A number of developments on the scaling side are already underway such as faster block propagation, UTXO commitment and Schnorr signatures. The signature improvement will replace the single sig per transaction method currently used, thus improving scalability. In a nutshell, a single signature will be used for multiple transactions, and this will decrease the block size occupied by one transaction. According to the official website, Schnorr signatures will be part of the May 15 protocol update.

Over the past couple of months, BCH developers have also been working on a pre-consensus method called Avalanche. In technical terms ,Avalanche is a proof-of-concept consensus algorithm adding Byzantine fault tolerant proofs to the blockchain network, so nodes can differentiate between two conflicting transactions. The system is still experimental at the moment but it is another step on the improvement roadmap for the BCH team. Early testing in February indicated that Avalanche could be up to ten times faster than Ethereum.

The pre-consensus developments come under the usability category for BCH improvements. It would vastly advance security for merchants providing almost instant secure verifications. Sighash and CashAddr, new Bitcoin Cash address formats, have already been implemented to the network.

Fee improvements and cheaper transactions are a goal for any crypto project if it is to become a dominant form of digital cash. Currently, the average transaction fee is 0.000015 BCH (or $0.0045 USD), so it is already way ahead of rival Bitcoin which is $0.68 on average at the moment.

To keep fees low, the BCH team has proposed fractional Satoshis further down the roadmap. This would benefit users in the form of virtually free transactions if the price of crypto assets skyrocketed again. Joannes Vermorel pointed this out in a blog post during the crypto peak in 2017;

“Bitcoin Cash needs to be designed in such a fashion that it is possible for mankind to spend less than 0.001% of its whole monetary supply per year in order to transact freely. Over the lifetime of a human, 100 years, the total transaction fees would remain below 0.1% her or his average monetary capital, which feels about right.”

Several extensibility improvements have already been made, but more Opcodes are in the pipeline with the ultimate goal of a new transactional format and a complete token economy in the future.

The recent squabbles involving the Bitcoin SV chain and its proponents have the negative effect of distraction from the real issues of building a working and usable decentralized crypto currency. The Bitcoin Cash ABC team is still highly focused on this task on taking the digital currency to the next level.

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Blockchain and crypto adoption in Asia on the rise, reports suggest https://cryptoinsider.media/blockchain-and-crypto-adoption-in-asia-on-the-rise-reports-suggest/ https://cryptoinsider.media/blockchain-and-crypto-adoption-in-asia-on-the-rise-reports-suggest/#respond Tue, 23 Apr 2019 14:10:59 +0000 https://cryptoinsider.media/?p=41722 The 2017 cryptocurrency hype cycle came with the ICO business model and the emergence of forks of existing cryptocurrencies. Albeit being a year of a downtrend, 2018 was the year of stablecoins. In spite of these innovations and developments, the world still awaits widely adopted real-world use cases of blockchain technology. 2019 appears to be […]

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The 2017 cryptocurrency hype cycle came with the ICO business model and the emergence of forks of existing cryptocurrencies. Albeit being a year of a downtrend, 2018 was the year of stablecoins. In spite of these innovations and developments, the world still awaits widely adopted real-world use cases of blockchain technology. 2019 appears to be the year for blockchain adoption by corporate giants worldwide. Perhaps the application of blockchain technology by corporations with millions of existing customers may be the catalyst for mass adoption of cryptocurrencies and blockchain technology. A number of Asian corporations have made giant strides in the areas of supply management, retail, and transportation.

East Japan Railway to Accept Crypto for Tickets

A month ago, ANN News of Japan reported that commuters may soon be able to pay for JR East train tickets using crypto. According to the news agency, Japan’s largest railway company is working together with IIJ, a cloud, and internet service provider to facilitate crypto payments for train tickets. Bitcoin, Litecoin, Bitcoin Cash, Ether, and Ripple payments will be supported by the railway company’s Suica cards. The Suica cards already facilitate the purchase of transportation tickets as well as other goods and services.

The Japan Financial Services Agency (FSA) approved DeCurret cryptocurrency exchange will be collaborating with IIJ on the project.

The move comes as no surprise as Japan has been friendly towards cryptocurrencies over the years. However, the impact of allowing a “crypto-savvy” citizenry to make crypto payments for an everyday service like transportation cannot be underestimated.

Rakuten And Techrock Use Blockchain for Product Authentication

On 17th April, Rakuten, a Japanese retail platform announced a partnership with Techrock, a Chinese retail channel. The partnership allows Rakuten to supply verifiable authentic Japanese products to China.

Techrock offers its blockchain-based anti-counterfeit technology as well as a dedicated “Rakuten Zone” in its safe product channel. Rakuten will be allowed to sell its in-demand products in the dedicated zone. The blockchain-based anti-counterfeit technology, in particular, will be useful in authenticating Rakuten’s quality Japanese products.

According to Ye Jianyou, Vice Senior Manager of Rakuten:

“Techrock’s anti-counterfeit technology allows Chinese consumers to verify they have received a genuine Rakuten product, giving a unique value advantage for cross-border commerce. Together with Techrock, we can further develop blockchain traceability and work towards cross-ecosystem integration of our platforms’ loyalty points. “

The Rakuten-Techrock partnership applies blockchain technology in solving the real-world problem of product counterfeiting.

Two Singaporean Firms Work on Game of Thrones Adidas Sneakers

The VeChain foundation and SBTG, a Singaporean shoe designer, teamed up to work on the new limited edition Game of Thrones Adidas shoes. The new sneakers are part of the Home Box Office (HBO) promotional campaign for its popular TV series.

Here, VeChain delivered yet another IoT-related service by providing the Near Feild Communication (NFC) chips fitted into the Adidas sneakers designed by SBTG. The technology allows buyers to scan the NFC chips and view videos about the shoes on their mobile devices.

The Vechain blockchain project has been focused on the intersection of blockchain technology and Internet of Things (IoT). The project is actively involved with the application of both technologies to create products and services that can be used in areas such as the authentication and tracking of products.

Blockchain and IoT for Transparent Supply Chain Management

Vechain seeks to tackle some supply chain management problems in collaboration with DNV GL, and Haier. DNV GL is a quality assurance and risk management company whiles Haier is a Chinese multinational consumer electronics and home appliance company. The partnership took effect on April 1st with the goal of enhancing transparency in supply chain management.

The three firms plan to use DNV GL’s “My Story” application for product authentication and tracking. The traceability application will be used alongside the VeChain blockchain to prevent fraud by authenticating goods. VeChain will also track the carbon footprint of all Haier products.

The year 2019 could go down as the year of blockchain adoption by multinational corporations. So far, Asian corporations are indicating their active involvement.

Read More:

The battle to decentralize the energy industry

Connecting Food, IBM, and Columbia University: disrupting world’s oldest industry

What are Reverse ICOs?

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Interview: Alex Mashinsky challenges Paris banks with Celsius https://cryptoinsider.media/interview-alex-mashinsky-paris-banks-celsius/ https://cryptoinsider.media/interview-alex-mashinsky-paris-banks-celsius/#respond Mon, 22 Apr 2019 21:49:18 +0000 https://cryptoinsider.media/?p=41731 At Paris Blockchain Week Summit 2019, Alex Mashinky has set a clear goal: infiltrate the banking system with Celsius and pay higher interest than any other financial institution. In his long-documented discourse against the practices of banks, the VoIP innovator and MoIP (Money over IP) proponent has always pointed to the fact that the interest […]

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At Paris Blockchain Week Summit 2019, Alex Mashinky has set a clear goal: infiltrate the banking system with Celsius and pay higher interest than any other financial institution. In his long-documented discourse against the practices of banks, the VoIP innovator and MoIP (Money over IP) proponent has always pointed to the fact that the interest rate for deposits has decreased. Sometimes the amounts barely cover the annual inflation rate, which means that the clients get the mainstream finance equivalent of “rekt” for holding their money in bank accounts.

In response to this practice, and as a consequence of the recent PACTE law that the French Parliament has ratified, Mr. Mashinsky is trying to turn Celsius into the ultimate banking tool which enables people to make crypto deposits and earn more interest. Furthermore, as a way of taking price volatility out of the way, the system will rely on stablecoins that are backed entirely by corresponding fiat amounts.

If it all goes according to Alex Mashinsky‘s plan, then the Celsius Network will take the French financial landscape by storm and provide an alternative that is both financially convenient and a gateway drug to Bitcoin and other cryptocurrencies. If, for instance, monsieur Pierre Cardin decided to give up on his deposit at the bank and move the money to a Celsius USDC-backed account, his annual returns would increase exponentially. And if the same person wanted to move his stablecoins to an exchange to buy some BTC, then his experience would be seamless.

Throughout this 17-minute exclusive interview, Alex Mashinsky is ecstatic, enthusiastic, and as passionate as you’d expect any financial revolutionary to be. And if his plan to take over the French banking sector with Celsius really succeeds, then you will have found out about it first from Crypto Insider!

Read more:

Why Bitcoin needs cash (and is not a byproduct of the cashless society)

Paris Blockchain Week Summit 2019 was a French tour de force

Interview: Alex Mashinsky on earning interest by HODLing with Celsius

 

 

 

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Paris Blockchain Week Summit 2019 was a French tour de force https://cryptoinsider.media/paris-blockchain-week-summit-2019-was-a-french-tour-de-force/ https://cryptoinsider.media/paris-blockchain-week-summit-2019-was-a-french-tour-de-force/#respond Mon, 22 Apr 2019 16:05:52 +0000 https://cryptoinsider.media/?p=41582 Between April 16th and 17th, Paris Blockchain Week Summit has turned the capital of France into the epicentre of European crypto innovation. Just days after the French Parliament has passed the “loi PACTE” legislative project in order to enable domestic enterprises to get ahead of technological innovation through acceptance of cryptocurrencies, the conference has turned […]

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Between April 16th and 17th, Paris Blockchain Week Summit has turned the capital of France into the epicentre of European crypto innovation. Just days after the French Parliament has passed the “loi PACTE” legislative project in order to enable domestic enterprises to get ahead of technological innovation through acceptance of cryptocurrencies, the conference has turned out to be a bona fide tour de force.

Essentially, one could easily distinguish between two different categories of companies and firms that participated PBWS: the French businesses looking to get ahead of the competition by proposing their services to the incoming speculators, and the foreign projects that were seeking to do business within the territories of the Fifth Republic. Both types of participants have been represented very convincingly, and all the exuberance regarding cryptocurrencies and industrial blockchain applications reflects a more advanced and mature stage of mainstream adoption.

By this point, it’s clear that France wants to become the first big Western power to create a business-friendly environment for everything crypto and blockchain. As previously presented in Senor Satoshi’s article “French government is clearing path for blockchain technology”, the government from Paris is willing to facilitate the tax system so that monthly declarations get replaced by yearly ones, the capital tax rate is set to be lowered by 6.2%, and crypto to crypto transactions will be exempt from this strict framework.

All of these measures are part of a plan to bring France to the forefront of technological innovation. And even if we were not aware of the ongoing legislative changes for a friendlier fiscal system, then we could still observe the large amount of French officials and trans-national businesses participating BPWS and presenting enthusiastic plans about doing business. Here are some highlights from the event:

 

Crypto takes over Paris Blockchain Week Summit 2019

In an exclusive interview with Celsius Network‘s Alex Mashinsky that Inbar and I have recorded on April 16th 2019, we were able to find out that the “earning interest by HODLing” model might receive its own French adaptation. This special crypto-centered approach involves the use of stablecoins and promises greater annual returns than traditional banks, without exposing customers to the risks of price volatility. While this is a brilliant gateway drug that will definitely generate some more Bitcoin adoption, it’s also a great tool for modern financial services. Yet most importantly, banks are pushed closer to the ropes of this boxing ring: now they’re forced to either adapt to the ongoing financial revolution or take a potentially fatal blow.

eToro CEO Yoni Assia has also expressed optimism regarding the bourgeoning business opportunities in France, and the fact that the social trading platform has invested a lot of money into promoting its brand during the event is yet another sign of bullishness. A country like France, which is a founding member of the European Union, a member of the UN Security Council, and one of the most innovative and creative places on the planet, proved to be the perfect place to make product launch. Accordingly, eToroX (a regulated cryptocurrency exchange) went live on the first day of Paris Blockchain Week Summit.

Legendary cypherpunk David Chaum talks about his influence in the space and the Elixxir project.

Yet another heavyweight who decided to take his time and promote a new project is the legendary cypherpunk David Chaum, whose influence in the field is truly inescapable and all-encompassing. Elixxir, a quick privacy-centered transaction platform which implements the blockchain technology, is still in its beta days and requires greater community support. The fact that Mr. Chaum has accepted to hold the opening keynote speech in Paris and talk to almost everybody who approached him regardless of topic, only goes to show that Paris Blockchain Week Summit has reached its most important goal – that of bringing people together and allowing for a productinve exchange of information and experiences.

The Tezos project was also a prominent presence during the event, as the project had the biggest booth of all cryptocurrencies participating PBWS. Since the French-speaking community is rather significant within the project, it made a lot of sense to take advantage of the opportunity and highlight the latest protocol advancements. Even Tezos co-founder Arthur Breitman was physically present and eager to engage with the community and the media, which was a pleasant surprise.

Furthermore, angel investor and Adaptive Holdings CEO Mrinal Manohar has also made a presentation on the state of Casper Labs, in which he highlighted the developments and advancements in the Proof of Stake protocol that is also expected to see an Ethereum implementation. After his 20-minute keynote speech, he was nice enough to talk to people interested in the projects in which he invests, and even answered all the questions in an exclusive interview for Crypto Insider.

Other big names of foreigners coming into France in order to find new business opportunities include Zcoin COO Reuben Yap, and Scorechain co-founder and blockchain intelligence expert Laurent Kratz.

Scorechain co-founder Laurent Kratz talks about potentially being one of the villains of crypto.

French crypto experts and businesses are looking to further establish their position at PBWS

Every participant to the Paris Blockchain Week Summit 2019 event has been greeted with a nice little gift: the Ledger Nano S hardware wallet. The crypto security company, whose main headquarters are in France, attended the event in order to promote their latest devices and raise awareness about the need for better private key management. Furthermore, the folks standing at the booth have been nice and patient enough to explain to everyone the differences between the Nano S and the new Nano X, and they even gave away stress balls so HODLing would become easier in this stage of the crypto market.

Also, innovation and fintech expert Jennifer D’Hoir was nice enough to talk about the lawyer firm that she co-founded, which is called GIDE 255. As a former employee of the French government, she saw the potential of cryptocurrencies and the need for legal experts in the bourgeoning field, so she decided to quit her old job and embrace the revolution. Right now, she and her firm are helping companies accept crypto payments, open bank accounts, and offer crypto-specific services. If this kind of story doesn’t convince you that there’s more to crypto than watching charts and expecting gains, then it’s unlikely that anything else will.

Furthermore, French entrepreneur Yves Laurent Kayan has presented to the world the Coinplus project, which allows cryptocurrency enthusiasts to store their coins on a credit card-shaped device which has no electronic parts and is immune to remote hacking. The concept is as simple as engraving the public key and the private key on a piece of plastic (or silver, or gold, depending on your budget), in order to enable physical cold storage that resists to most natural hazards. Unlike the Ledger, this is about having a safe place for your seed words or parts of the private key. And just in case the security model seems too simplistic, there are multisig 2 of 3 or 3 of 5 solutions to make sure that a situation like Quadriga’s would never occur.

Jennifer D’Hoir expresses her bullishness on crypto and how she believes her law firm will help create more institutional adoption.

There’s more to the picture than meets the eye, so stay tuned for the exclusive Crypto Insider interviews!

The Paris Blockchain Week Summit was a huge event which featured hundreds of speakers and took place on two stages at the same time. Given the time or resources, Crypto Insider was able to only cover a few of the launches and presentations taking place at the venue.

Correspondingly, we have good news and bad news. First of all, let’s begin with the positive side of the narrative: everybody who has been mentioned during the article is the subject of an exclusive interview that will get posted throughout the week. The bad news is that we couldn’t get more content and had to deal with time constrains. Nevertheless, we have shot video and audio of all interviews we conducted, and the footage will be accompanied by brief 300-word articles.

Therefore, you better stay tuned to Crypto Insider news if you want to find out more about eToroX, Celsius, David Chaum’s Elixxir, Tezos, Casper Labs, Scorechain’s blockchain intelligence services, Zcoin, Gide 255, and Coinplus. An interview with Ledger is also scheduled to happen in the following days.

Read more:

 

 

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Binance in quest of controlling the entire crypto market? https://cryptoinsider.media/binance-in-quest-of-controlling-the-entire-crypto-market/ https://cryptoinsider.media/binance-in-quest-of-controlling-the-entire-crypto-market/#respond Sun, 21 Apr 2019 18:44:05 +0000 https://cryptoinsider.media/?p=41634 Binance, the world’s largest cryptocurrency exchange, has been receiving a lot of attention lately after it announced that it was launching the Binance Chain mainnet and planning to execute a mainnet swap on April 23, 2019. Now the company is incentivizing developers who are building on other blockchains to switch to Binance’s own network. This […]

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Binance, the world’s largest cryptocurrency exchange, has been receiving a lot of attention lately after it announced that it was launching the Binance Chain mainnet and planning to execute a mainnet swap on April 23, 2019. Now the company is incentivizing developers who are building on other blockchains to switch to Binance’s own network. This has raised the eyebrows of Lucas Nuzzi, the Director of Technology Research at Digital Assets Research, who thinks that the move will put a lot of power in the exchange’s hands.

In a Twitter thread, Lucas argues that Binance could try to control the entire ecosystem with the influence that it has gained over the last few years. Just as Binance’s management announced that it was going delist Bitcoin SV (BCHSV) without any consequences, it could now demand projects from rival platforms, such as EOS, TRON and Ethereum, to migrate to Binance Chain as a requirement for them to be listed on the exchange.

With this kind of authority, Mr. Nuzzi believes that:

“Binance [could] become Ethereum’s equivalent to Bitmain; a massive, centralized, self-serving agent that retains a lot of power.”

The former consultant at Thompson Management Horizons claims that since most tokens that have been launched on the Ethereum blockchain lack utility and their main purpose, at this point in time, is being used as a medium-of -exchange, they could benefit from the migration to a blockchain that is associated with an exchange. The shift could set the stage for these tokens to get into the headlines and subsequently receive a pump in their market valuation.  

As speculation around the matter continues to increase, Nuzzi suspects that the world’s largest cryptocurrency exchange could potentially expand its dominance over the cryptosphere, with the surge of Initial Exchange Offerings (IEO). Considering that IEOs are managed by a crypto assets exchange on behalf of the startup that is looking to raise funds and that they take a cut of the tokens sold as well as listing fees, this could allow them to oversee most of the new projects that are being built. Therefore, Binance could try to “control the entire supply chain of tokens.”

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Perfomance of privacy-focused cryptocurrencies https://cryptoinsider.media/perfomance-privacy-coin/ https://cryptoinsider.media/perfomance-privacy-coin/#respond Sun, 21 Apr 2019 14:54:00 +0000 https://cryptoinsider.media/?p=40558 The cryptocurrency market as a whole has seen positive price action since April 1st. This article throws light on the performance of privacy-oriented cryptocurrencies by focusing on the top 5 cryptocurrencies in the AltDex privacy coin index. The AltDex privacy coin index lists Monero, Zcash, ByteCoin, Verge, and Komodo as the top five privacy coins […]

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The cryptocurrency market as a whole has seen positive price action since April 1st. This article throws light on the performance of privacy-oriented cryptocurrencies by focusing on the top 5 cryptocurrencies in the AltDex privacy coin index.

The AltDex privacy coin index lists Monero, Zcash, ByteCoin, Verge, and Komodo as the top five privacy coins by market cap. All five cryptocurrencies are designed to enable users to execute anonymous transactions. The privacy coins, however, saw varying degrees of price surges between the 1st and the 21st of April.

Monero (XMR) Price Movements Since April 1st

Holders of Monero were not left out of the excitement that followed the major uptrend starting on April 1st. The cryptocurrency’s price moved from $55.9 on April 1st to a new 2019 high of $72.3 on the 3rd of April. This was followed by a correction to $62.4 on April 4th. The Monero (XMR) price has since bounced back to reach $68.7 at the time of writing. In all, the privacy coin has seen a 22.8% price increase thus far this month.

Monero’s total market cap of $1.16 billion makes it the 12th ranked cryptocurrency and the highest ranked privacy-focused coin. The privacy coin has moved a place up from 13th on the coinmarketcap.com list of cryptocurrencies. Additionally, the Monero market cap represents almost half of the 17-coin  AltDex privacy coin index.

Readers who’re interested in learning more about Monero’s ongoing development and an evaluation of its past performance may want to read this extensive  Monero (XMR) Strengths, Weaknesses, Opportunities, Threats: SWOT Analysis (published in March 2019).

The chart below shows the price movements of Monero since April 1st:

Monero price chart
Source: www.coinmarketcap.com

Zcash (ZEC) Price Performance

The Zcash price fell by 1.7% in the last 24 hours. This notwithstanding, the cryptocurrency has recorded an 18.7% price increase since April 1st. The chart below shows the rise from $57.9 on 1st April to the $72.7 peak on 8th April. The price has remained within the $65 to $75 range since an April 4th correction to $65.4. Zcash is currently worth $68.74.

privacy coin Zcash chart
Source: www.coinmarketcap.com

At its current price and market cap, Zcash stands as the 24th ranked cryptocurrency. In spite of its increasing market cap, the privacy coin has dropped two places on the coinmarketcap.com list of cryptocurrencies. However, the current market cap of $437.4 million still earns the cryptocurrency the 2nd place on the privacy coin index with 18.47% of the index’s weight.

In February 2019, the main company behind the development of ZCash changed its name to “Zerocoin Electric Coin Company” in order to provide more clarity. The privacy-centric cryptocurrency also went through a re-branding phase. To learn more, please click here.

ByteCoin (BCN) Sees Steady Increase in Price

To find the 3rd-ranked privacy coin, one has to go all the way to the 45th ranked cryptocurrency on coinmarketcap.com. ByteCoin is known as the first true anonymous coin as popular privacy coins like Monero and Dash were created using ByteCoin’s Cryptonote protocol.

The ByteCoin price rose steadily from $0.000729 on 1st Apr. to $0.001003 on April 4th. This 37.6% increase in price was followed by a correction on April 3rd and another steady rise to $0.001033 on April 8th. There was another correction to $0.000895 on the 11th of April. At the time of writing, the Bytecoin (BCN) price stood at $0.000908 after several days of flatlining. At its current price Bytecoin outperforms both Monero and Zcash with a 24.5% price increase since 1st April.

Privacy coin bytecoin chart
Source: www.coinmarketcap.com

ByteCoin’s daily volume of $226,252 is by far the least amongst the top five privacy coins. However, the market cap of $167.1 million accounts for around 7% of the privacy coin index.

On March 6th, 2019, the ByteCoin development team published a new roadmap via Twitter.

Verge (XVG) Experiences More Volatility

Verge, in spite of the bad press it has received in the past and also having endured several 51% attacks, started as the best performing privacy coin during the bullish trend that began on April 1st. The price peaked at $0.011283 on 8th April after opening at $0.007552 on April 1st. At the time, the 49.4% increase in price was the highest recorded amongst the privacy coins on the AltDex index. However, the Verge (XVG) price now sits at $0.008263 after a reversal to $0.008458 on 11th April and the relative price stability that followed. The reversal wiped away most of the gains made on the 8th of April as the percentage price increase of Verge since the uptrend now stands at only 9.4%.

privacy coin Verge chart
Source: www.coinmarketcap.com

Last month, a prominent Reddit user name /turtlecane published an extensive post which summarized the various challenges Verge has faced in the past year. The Redditor’s post, titled “Verge (XVG) Has Lost 94 Percent of Its Value After Three Time Warp Attacks and a 51 Percent Attack in 2018, Now Mining Code Is Malfunctioning and Developers May Fork to Proof of Stake (PoS),” recounts the technical problems the proof-of-work (PoW)-based chain has faced and how this may limit its long-term potential to achieve significant adoption.

Komodo (KMD) Price Drops After Modest Gains

Komodo accounts for 5% of the AltDex privacy index with a market cap of $121.1 million. This makes it the 5th placed cryptocurrency on the privacy coin index.

As shown in the chart below, the Komodo price surged from $1.12 on 1st Apr. to the $1.28 peak on April 3rd.

Komodo chart
Source: www.coinmarketcap.com

Komodo (KMD) bagholders made 14.2% gains in the rally that took place from April 1st to April 8th. In spite of the price increase, Komodo remained the least performing coin amongst the top five cryptocurrencies on the privacy coin index at the time. This became more apparent when the price closed at a low of $0.99 on April 12th. According to coinmarketcap.com, the Komodo (KMD) price is currently $1, making it the only privacy coin to have recorded a negative price change since April 1st.

To learn more about the latest technical updates from Komodo, through detailed interviews from their Chief Technical Officer (CTO), click here and here.

Generally, privacy coins moved in the direction of the entire market in the current uptrend. Most of the privacy coins experienced surges in price on the 1st of April followed by varying degrees of corrections on April 3rd and 4th. The 11th of April was also marked a bad day for the top privacy-focused cryptocurrencies as majority saw declining prices. However, with the exception of Komodo, all the top five privacy coins have made gains since April 1st.

Read More:

Giacomo Zucco Exclusive Interview (Complete and Uncut)

The top 5 cryptocurrencies to watch in 2019

Ripple attracts new skill with millions in XRP bonuses

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Weekly roundup April 15 – April 19 https://cryptoinsider.media/weekly-roundup-crypto-april-15-april-19/ https://cryptoinsider.media/weekly-roundup-crypto-april-15-april-19/#respond Sat, 20 Apr 2019 16:29:04 +0000 https://cryptoinsider.media/?p=41593 This week, crypto saw bitcoin remain mostly in the low $5,000s, as various headlines rolled in regarding IOST, Bitcoin SV and more. Catch up on the details!

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This week, crypto saw bitcoin remain mostly in the low $5,000s, as various headlines rolled in regarding IOST, Bitcoin SV and more. Catch up on the details!

ZEIP-31 | Proposal for ‘leveling playing field across all’ 0x protocol-based assets

Exclusive: IOST CEO Jimmy Zhong discusses current trends in dApp development

The Internet of Services Token (IOST) platform posted significant activity recently in the realm of transactions. Essentially a blockchain-based network used for creating scalable dApps, the platform posted 580,231 transactions on April 6 this year, according to a press release given to Crypto Insider.

For the first time ever, IOST beat out Ethereum for transactions on April 6, with ETH seeing only 558,272 movements.

IOST has a considerable number of participants, tallying 213,000 live accounts. The platform is also a young one, as it saw its mainnet launch about one month ago.

Additionally, IOST’s management team has decided to partner “with Ehang, a Chinese autonomous vehicle, or self-driving automobile manufacturer,” Crypto Insider added.

Read on Crypto Insider

OKEx Sticks With Bitcoin SV, Crypto Community Still Divided

Top global crypto exchange Binance delisted bitcoin SV (BSV), thus creating significant commotion in the crypto space. Another top exchange, OKEx, went a different route, deciding not to remove the asset from its ranks.

In an April 16 statement, OKEx wrote, “BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being.”

The exchange said it looked over the asset thoroughly, evaluating liquidity, compliance and technology development.

Read on Crypto Insider

BitMEX CEO mentions future plans to Venture Coinist Luke Martin

Cryptopia: the Thrill and the Agony

Cryptopia reportedly has resumed certain operations. The exchange sustained a sizeable hack, revealed to users in January of 2019.

A lack of clarity surrounded the hack, as users wondered about details of the event. The New Zealand police even swept in to conduct an investigation on the situation. Crypto firm Elementus tallied $16 million in crypto funds lost from the incident. Further funds even were stolen after the initial attack.

March 5 saw Cryptopia re-open its site, but for viewing purposes only, showing everything as it was prior to the hack. The exchange urged users to reset passwords and undergo other security measures while the website was still in read-only mode.

In a March 18 tweet, Cryptopia announced the resumption of 40 trading pairs. On April 15, in continued pursuit of reopening its operation, the exchange announced opening deposits and withdrawals for a few big name assets.

Read on Crypto Insider

This week, Crypto Insider also posted interviews with Hungarian software developer NoparaeToro founder Yoni Assia and Security Token Academy director of strategy Derek Schloss.

 

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Weiss Crypto Ratings founder believes blockchain networks will replace legacy systems https://cryptoinsider.media/weiss-crypto-ratings-founder-believes-blockchain-networks-will-replace-legacy-systems/ https://cryptoinsider.media/weiss-crypto-ratings-founder-believes-blockchain-networks-will-replace-legacy-systems/#respond Sat, 20 Apr 2019 09:59:46 +0000 https://cryptoinsider.media/?p=40553 The International Monetary Fund (IMF), an organization focused on promoting “global monetary cooperation” in order to help underdeveloped nations achieve Millenium Development Goals and various other socioeconomic initiatives, recently announced the launch of “Learning Coin.” The IMF will be working with the World Bank, a global financial institution that helps fund projects mainly in developing […]

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The International Monetary Fund (IMF), an organization focused on promoting “global monetary cooperation” in order to help underdeveloped nations achieve Millenium Development Goals and various other socioeconomic initiatives, recently announced the launch of “Learning Coin.”

The IMF will be working with the World Bank, a global financial institution that helps fund projects mainly in developing countries, to create an app specifically for the Learning Coin project. The app will allow users to access educational blog posts and several other research materials that can be used to enhance their learning as they try to better understand how Learning Coin, a “quasi-cryptocurrency,” works in real-world scenarios.

Recently, Christine Lagarde, a prominent French politician and head of the IMF, had said:  “I think the role of the disruptors and anything that uses distributed ledger technology, whether you call it crypto assets, currencies or whatever—and it’s far from the Bitcoins we used to talk about a year ago—that is clearly shaking the system.”

Cryptos Most Useful Where “Economic Freedom Is Highly Restricted”

In response to Lagarde’s statements, Dr. Martin D. Weiss, the founder and CEO of Weiss Cryptocurrency Ratings, told Crypto Insider that “in the world’s financial capitals, crypto still lives in the shadows of giant, established structures and infrastructure, with only minimal impact.”

However, he pointed out that “in regions where economic freedom is highly restricted, where the establishment is teetering on the brink of chaos, or where the masses simply have no access to financial services, the door is opening for disruptive technologies like distributed ledgers to fill the void.”

He continued:

“Right now, only those who truly need Bitcoin are willing to put up with the hurdles of using it. But as the technology and protocols evolve to become more user-friendly, we believe distributed ledger technology (DLT) will replace legacy financial infrastructure in much the same way the internet has overtaken telecommunications.”

World’s Legacy Systems Facing “Major Scaling Issues”

When questioned about what we can expect from legacy players as the crypto industry grows and evolves, Dr. Weiss noted: “The choices will be to adapt or die. Traditional financial infrastructure could undergo a major DLT overhaul. Ultimately, financial service providers who do not use the technology could wind up in the same place as news organizations stuck in era of hard copy.”

Elaborating further on how the traditional financial industry is planning to integrate blockchain-based systems, Dr. Weiss revealed: “Already, the world’s legacy financial infrastructure is facing major scaling issues. It’s inefficient and slowed by a myriad of intermediaries. It’s unable to meet the demands of everyday people, especially those in emerging markets.”

According to Dr. Weiss: “DLT is the only known, viable solution. It has the potential to fling open doors to efficient financial services provided to anyone with a smartphone and an internet connection. It will democratize finance in a way the world has never before experienced. And it’s hard to imagine a scenario in which DLT does not completely replace today’s financial infrastructure.”

“Do-No-Harm” Approach

Responding to a question regarding the development of regulations for cryptocurrencies, Dr. Weiss recommended: “The “do-no-harm” regulations that set the ground rules–and facilitated the growth — for the world wide web provide the best model and metaphor.But regulators and legislators have a tough road ahead:

First, to better understand the fundamental principles of DLT;

second, to overcome their fears about how the technology might enable bad actors on the global scene;

third, to pass legislation, such as the the Token Taxonomy Act, which defines which cryptocurrencies are exempt from legacy regulations; fourth to establish rules for better transparency to investors; and finally, to create a global, borderless regulatory framework.”

Going on to explain how Weiss Crypto Ratings is contributing to the crypto industry, the company’s founder noted: “The cryptocurrency space currently suffers from an abundance of misinformation and a paucity of Big Data-driven research that’s objective and free from conflicts of interest. The Weiss Crypto Ratings are designed to help fill that gap.”

Previous Industrial Revolution “Set Off Equally Transformative Cultural Changes’

When asked about his long-term and short-term goals, as an individual, participating in the crypto space, Dr. Weiss stated:

“Right now and into the future, our goal is to help empower all stakeholders to cut through the hype and fear, make prudent decisions, and direct their resources to the projects that truly have the best potential to change our world for the better.”

He added:

“Long term, a major endeavor will be to explore — and seek to map out — the most likely next phase in mankind’s long history of techno-cultural evolution. Looking back, we know that the invention of stone tools coincided with the development of language; the discovery of agriculture and storage facilities spurred the emergence of the first nation-states; and the industrial revolution set off equally transformative cultural changes.”

He further noted:

“But looking ahead, there’s little awareness of the cultural and social transformations that might come in the wake of the DLT revolution. We will explore that horizon, suggest ways for the public to prepare, and recommend pathways for investors to participate.”

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