Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

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Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

Coinbase is exploring a possibility to add support for a list of 31 coins, including XRP that is currently the second-largest cryptocurrency by market cap.

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

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Source: CoinSpeaker

US Government Aims to Make Privacy Coins’ Use Case Obsolete

A branch of the United States Department of Homeland Security (DoHS) is researching the possibility of using blockchain forensic analysis tools to better trace privacy coin transactions.
Privacy No More: US Government Preparing Forensic Analysis Tools
Among the biggest concerns surrounding cryptocurrencies like Bitcoin are fears that the emerging technology could facilitate money laundering by rogue countries, terrorist organizations, and cybercriminals.
However, the United States government has increasingly bolstered their ability to trace blockchain transactions, and have even learned how to track Bitcoin transactions back to the source and identify the wallet holder, as was the recent case where the U.S. Treasury sanctioned two men from Iran over their involvement in ransomware attacks.
Related Reading: Iran Is Prepping National Crypto to Evade US Sanctions
Next on the government’s agenda, is to begin looking into privacy-focused cryptocurrencies, such as Dash, Zcash, Monero, and more.
According to a pre-solicitation document published by the DoHS’s Small Business Innovation Research Program. The document, discovered by The Block, the U.S. government is allegedly investigating ways to better track transactions on the blockchains of the aforementioned privacy coins.
The report does speak positively about some of the aspects of privacy coins, but calls attention to transactions of “illegal nature” that occur using said cryptocurrencies. The eventual goal is to build out a platform that law enforcement agencies, government branches, and even private financial institutions can use to analyze and enforce important anti-money laundering laws.
Since the document is just a pre-solicitation, the notice is “merely an opportunity for interested parties to comment on or request information about the attached topic areas,” and doesn’t mean that the government already has such tools in its possession. It does, however, prove that the DoHS has concerns over privacy coins and their potentially illegal usage.
Japan Bans Privacy Coins, Will the United States Follow?
Zcash, Dash, Monero, and many other privacy-focused cryptocurrencies allow users to hide transaction and address data from anyone outside of the sender and receiver.
Monero is the cryptocurrency of choice for most cryptojackers as cybercriminals are able to easily hide their tracks. Monero has also unseated Bitcoin as the most-used cryptocurrency on the dark web, so it’s no surprise to see that the United States is joining Japan in addressing concerns around privacy coins.
Related Reading: Japan’s FSA Grants Self-Regulatory Status to Crypto Industry
In Japan, where cryptocurrency-related theft has skyrocketed, the Financial Services Agency (FSA) has imposed a ban against any cryptocurrency exchanges in the country from offering privacy coins. The ban took effect this past June, and the ripple effect is just now reaching the United States.
Coincheck, which suffered the largest cryptocurrency exchange hack in history at the start of this year, was among the exchanges that were forced to comply with the FSA’s ban, and removed Monero, Dash, Zcash, and Augur’s Reputation coin.
Featured image from Shutterstock.
The post US Government Aims to Make Privacy Coins’ Use Case Obsolete appeared first on NewsBTC.
Source: New feedNewsBTC.com

Augur Proves Its Worth During US Elections


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Augur is a project built on the Ethereum blockchain, facilitated by its native token, REP. By definition, Augur is a decentralised oracle and prediction market protocol, that is owned and run by the people who use it and of course, REP investors.
Users of the Augur network can make predictions that in turn, have a monetary value, like a bet. This means that users can predict on political movements, cryptocurrency movements and even natural disasters. Augur is an open world full of markets which users can place bets on.
What is Augur
According to the Augur website:
“Augur is a decentralized oracle and peer to peer protocol for prediction markets. Augur is free, public, open source software, portions of which are licensed under the General Public License (GPL) and portions of which are licensed under the Massachusetts Institute of Technology (MIT) license. Augur is a set of smart contracts written in Solidity that can be deployed to the Ethereum blockchain.”
Furthermore:
“Augur is a protocol, freely available for anyone to use however they please. Augur is accessible through a desktop client app, similar to interacting with an Ethereum or Bitcoin node. Users of the Augur protocol must themselves ensure that the actions they are performing are compliant with the laws in all applicable jurisdictions and must acknowledge that others’ use of the Augur protocol may not be compliant. Users of the Augur protocol do so at their own risk.”
According to the Augur website, here are a few use cases for the Augur network:
Political Forecasting
“Turn political knowledge into predictive power by trading on the outcome of upcoming elections, potential policy decisions, and other political events.”
Event Hedging
“Hedge against catastrophic events like natural disasters, market crashes, and geopolitical upheaval by betting that the event will occur.”
Weather Prediction
“Harness the power of crowds to create a more accurate weather prediction tool for events like hurricane landfalls, heat waves, and daily temperature averages.”
Company Forecasting
“Companies can use Augur to guide decision making by forecasting vital information such as total product sales and project completion times.”
How does it work?
Using Augur is a simple process, firstly, users must select and event that they want to hedge against. In this example, we are looking at the US midterm elections, so let’s stick with that. Within the event, users can then bet on a specific market, or can create their own, so, in this instance, a market may include something like ‘democrats or republicans to take the house in US midterms’. Now, other investors can trade on the outcome of the market, they can back whichever outcome they want to bet for, so again in this example, an investor may bet a bunch of Ethereum or REP tokens on the democrats taking the house in the US midterms.
As Augur is decentralised, the final outcome must be reported before winning bets are returned, this gives all users a chance to dispute the outcome if they think it is false or unfair. Finally, those who own shares of the winning market (through the bets they have placed) will receive their payout and the contract is closed.
Augur simply takes a traditional betting format, and brings it to the blockchain.
Augur has been impressive throughout the elections
As we have stated, Augur is in the news this week for holding it’s cool during a huge increase in activity as a result of the US midterm elections. Since Augur is built on the Ethereum network, it’s often assumed that Ethereum products are unable to handle high volumes of traffic and large scale transactions. Even so though, during the recent US election period, it’s alleged that Augur has seen an incredible $1.65 million in bets, with as much as $900,000 all coming through on the same day.
According to Ethereum World News:
“The decentralized prediction platform of Augur (REP) that is built on the Ethereum network, has achieved an impressive feat of handling approximately $1.65 Million in bets during the US Midterm elections that were held on the 6th of November this year. During the day of the midterm elections, the value of bets had initially reached $900,000 only to surpass the $1 Million Mark as the day came to a close. Further researching the bets made using Augur on the tracking website of Predictions.Global, we find one particular bet that asks which party will control the house after the 2018 US Midterm elections. The volume of this bet currently stands at $1.625 Million.”
In terms of value, it’s not a huge amount given the sheer scale of transactions that move across various blockchains, however, it’s a huge amount for a project like Augur to have to handle. What this tells us, is two things. Scalability on the Ethereum network might not be as drastic as we think. Secondly, this proves that there’s a growing interest in cryptocurrency and within the blockchain, so much so, that people are now using it to bet on the outcome of major political elections.

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The post Augur Proves Its Worth During US Elections appeared first on Crypto Daily™.
Source: Crypto Daily

Bitcoin Stability Continues while XRP, VeChain, BAT, Verge, & Augur Making Good Gains

Bitcoin is trading near $6,500 maintain stability as volatility collapses. Meanwhile, XRP, VeChain (VET), Basic Attention Token (BAT), Verge (XVG), and Augur (REP) are up between the range of 4 and 7 percent.
Bitcoin volatility collapses at $6,500
Bitcoin is maintaining stability for a long time now. At the time of writing, it has been trading at $6,497 with 0.56 percent gains. With a daily trading volume of $3.3 billion, as shown in the graph below, the price is being inactive lately with volatility crumbling.
Bitcoin 1-year price chart, Source: Coinmarketcap
The entire crypto market is currently seeing the greens as the total market cap adds over $2 billion. Meanwhile, BTC dominance is at 53.6 percent.
XRP/USD
The world’s 3rd largest cryptocurrency is up by over 4 percent while registering the daily trading volume of $432 million. Currently, trading at $0.4616, it is moving towards $0.4700 resistance level.
XRP 24-hours price chart, Source: Coinmarketcap
VeChain (VET)/USD
Up by 6.13 percent, VeChain is making a lot of headway in IoT space while climbing to $0.01159. With its ecosystem continuing to grow, the prices are depicting a bullish picture.
VET 24-hours price chart, Source: Coinmarketcap
Basic attention token (BAT)/USD
For the past week, BAT has been making a lot of gains on the anticipation of Coinbase listing. Trading at $0.2683, it is up by over 6 percent.
BAT 24-hours price chart, Source: Coinmarketcap
Verge (XVG)/USD
At 41 rank, Verge also managed to make some gains at $0.0146 while rising upwards by about 4 percent with a daily trading volume of $5.1 million approximately.
XVG 24-hours price chart, Source: Coinmarketcap
Augur (REP)/USD
At $14.01, the decentralized platform for predictions market, Augur is rising by 6 percent while managing the daily trading volume of $9.6 million.

REP 24-hours price chart, Source: Coinmarketcap
The post Bitcoin Stability Continues while XRP, VeChain, BAT, Verge, & Augur Making Good Gains appeared first on Coingape.
Source: CoinGape