Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges

Crypto-Twitter felt a sense of triumph when Binance and other Exchanges like Kraken and Shapeshift decided to De-list Bitcoin Satoshi Vision (BSV). Moreover, this the first time that a split between ideas resulted in delisting rather than opting for another ‘Fork.’
John McAfee tweeted on the issue:
“If BSV was his true vision then either Satoshi is the worst communicator in the world, or Craig Wright, Calvin Ayre and BSV are frauds.”
However, what feels like a unanimous decision was actually influenced by one Exchange’s immediate decision. The price of the delisted token fell by 21% in hours of the announcement. Hence, there were many users on the BSV chain who suffered losses which also might have been oblivious of the claims on Satoshi’s identity; not many people outside the crypto-community knows lead proponents of cryptocurrencies.
Centralization of Exchanges an Alarming Issue
Furthermore, BSV proponents have claimed that delisting was a violation of the right of free speech for Craig Wright. While Crypto-Twitter is united against Wright’s claims and the delisting, there is another alarming issue addressed by industry leaders.
Vitalik Buterin, the co-founder of Ethereum also noted on the issue:
“…I agree #DelistBSV is not a free speech violation for a different reason: exchanges are already selective so listing is active promotion, not “just letting the market play out man”
Binance is the largest Exchange in the world, and it is centralized. In fact, CZ can influence the price of any cryptocurrency by just ‘threatening to delist.’ Moreover, we have often seen how the listing of cryptocurrencies on Exchanges create a short term ‘pump and dump.’ It was evident with the ‘Coinbase effect‘ too where just anticipation of listing on Coinbase would drive the price of a cryptocurrency.
Charles Hoskinson, the CEO of IOHK, the firm behind the launch and development of Cardano platform tweeted on the issue saying:
“Exchanges are not public utilities, they are businesses often run by private owners. If you want a utility, then invest in or use a DEX. Don’t complain about the BSV delisting and cite free speech or some other appeal. It doesn’t exist with private companies.”
Hoskinson and Vitalik’s tweet on the issue suggests that privately managed Crypto Exchanges with such a large user base creates a monopolistic or oligopolistic market. Individual players are empowered to influence the market considerably. Hence, in its drive to bring decentralization in the World economy, the crypto-community seems to be moving towards centralization within the crypto-sphere itself.
There are many other centralization issues associated with Cryptocurrency Exchanges. Most importantly, the private key and custody issue, as Cryptocurrency Exchanges acts as custodian of the cryptocurrencies for their users. Since its inception ten years earlier, many Exchanges Wallets have been hacked and millions of dollars misplaced at the hand of the Exchanges.
Therefore, Decentralized Exchanges and personally managed open-source crypto-wallets are the only way forward towards a truly decentralized, secure and trust-worthy Blockchain ecosystem. Furthermore, Decentralized Exchanges can opt for a democratic process for listing and delisting of cryptocurrencies to ‘give the control back to the community.’
Is a shift to Decentralized Exchange need of the hour or crypto needs more centralized supervision? Please share your views with us. 
The post Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges appeared first on Coingape.
Source: CoinGape

Is John McAfee among crypto adherents who knows Satoshi’s true identity?

John McAfee, the cyber-security genius, assured that Craig Wright was not Satoshi Nakamoto and in a shocking turn of events mentioned that there were a few people who knew the true identity of Satoshi Nakamoto.
John McAfee’s tweet read:
“Enough is enough! There at least a dozen crypto adherents who know the true identity of Satoshi. I can assure you, 100%, it is NOT Craig Wright. This absurd claim of Craig’s is incomprehensible. Mr wright: Have you no shame? Seriously sir! Have you no shame?”
Craig Wright has been raining lawsuits on Bitcoin enthusiasts who allegedly ridiculed him and claimed that he was not Satoshi Nakamoto. The string of lawsuits that began with Hodlonaut (and still continuing) brought the crypto-space together. Moreover, this also led CZ, the CEO of Binance, to delist Bitcoin SV, a fork of Bitcoin Cash, supported by Calvin Ayre and Craig Wright.
While some prominent people in the community “trolled” the incidents that occurred, others in the crypto-sphere gave their opinions on – if Craig Wright was Satoshi Nakamoto or not. McAfee was one among the latter, as he mentioned that there “at least a dozen crypto adherents” who knew Satoshi Nakamoto’s identity.
In addition, McAfee assured that Craig Wright wasn’t Satoshi Nakamoto. He said that he was “100% sure” about this matter, which leads to another question: Is John McAfee be one among the “dozen crypto adherents” who knows the identity of Satoshi Nakamoto?
Curious Twitter users asked if actually knew the identity and asked him to divulge the information. A Twitter user @bobchain_crypto tweeted:
“Do you know? Tell us!!!”
McAfee replied:
“Please. Get real. Satoshi has remained anonymous all these years and you expect someone to just tell you??? Surely that was not a serious statement.”
The post Is John McAfee among crypto adherents who knows Satoshi’s true identity? appeared first on AMBCrypto.
Source: AMB Crypto

Is Bull Continued? Crypto Market Rallies Exciting with BTC above $5100 and Altcoins On Bull Run

The month of April has been showing bullish sentiments for the cryptocurrency market. Bitcoin and most cryptocurrencies are turning their heads up with new volume today, moreover, having a bullish rally continued since the earlier this month.
Is the Bear Market Really Over?
Bitcoin’s move towards $5000 has led many investors, analysts and CEOs to predict the future and bet higher on it. Given that, its forward race also picks other altcoins up with a certain percentage. Consequently, with Bitcoin, other cryptocurrencies such as Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS, Binance Coin ((BNB) Tether (USDT), Stellar Lumens (XLM), Cadano (ADA) and many others see a remarkable surge.
Source: CoinmarketCap
Nevertheless to note that crypto market in last week showed a mixed signal – but the value this week contributes as a potential starter. The new week for Bitcoin starts with budding figures of $5183 against US Dollar, quite closer to $5200. Besides Bitcoin, Ethereum also begins the week with 3.05 percent growth over the past 24 hours and presently trades at near $170 against US Dollar.
Also Read: How To Prove the Real Identity of Satoshi Nakamoto, the Creator of Bitcoin? CZ Suggests
Together with BTC and ETH, an escalating drive can also be seen around other altcoins – nonetheless, BCH with 9.02%, Litecoin with 7.70% and Tezos with 19.00% (over the past 24 hours, respectively) are the top gainers among the 20 largest cryptocurrencies in terms of market capitalization.
However, the specific reasons that influenced the prices of all major cryptocurrencies might not be determined but it is worth to note that the growth in the value of crowning cryptocurrency, Bitcoin will influence the value of other altcoins.
Additionally, while BTC constantly striving to rise, famous figures in the crypto industry are busy talking bearish on Bitcoin in the near future.
As such, Arthur Hayes, CEO of the largest cryptocurrency exchange, BitMEX has recently been interviewed wherein he expresses his opinion of Bitcoin’s value in the next 2-3 years. In a podcast, Mr. Hayes states that in the near future, Bitcoin could reach up to $50000. Moreover, he also cut it down in the form of years and notes that it could have a $10000 figure by the end of the year 2019.
Do you think today’s uptrend graph continues to develop? Let us know in the comment below 
The post Is Bull Continued? Crypto Market Rallies Exciting with BTC above $5100 and Altcoins On Bull Run appeared first on Coingape.
Source: CoinGape

Week in Review: Cryptocurrency Price Analysis for the Week April 8 to April 13

Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article.
Bitcoin (BTC)
Bitcoin saw some positive sentimental moves this week as the top coin was up 1.12%. The good thing about  Bitcoin is that it still hodls itself above 5000 creating a sentimental positivity. The prices hit a high point of USD 5,421.65 and the lowest point of USD 4,955.85 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were,  BitMex (7.66%), CoinBene (4.40%) and OEX (3.59%)
Among prominent news around Bitcoin, Comparing the rise in Gold and Fiat, a Twitter user by the handle @Moon_Rekt is optimistic that Bitcoin prices will erupt towards the $98 million marks in the next two decades.
Ethereum (ETH)
Ethereum stayed in the red this week after a good couple of weeks. Ethereum on the top, this week was at USD 184.38 and were at lows of USD 161.03. The markets that were more active, in volumes, with ETH across various pairs this week were Bibox (4.96%), LATOKEN(3.65%) and OOOBTC (3.57%)
Among news surrounding Ethereum, A group of Ethereum’s veteran open-source developers discussed the subject in a bi-weekly meeting, wherein they aired the possibility that system-wide upgrades, also called hard forks, to the software, could be enacted as often as every three months.
Ripple (XRP)
On the top, this week the prices of XRP were at USD 0.367036 and towards the bottom, it quoted USD 0.321167. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG (14.78%) Fatbtc (7.33%)  and Bit-Z 5.08%)
For XRP this week, Ripple, the blockchain-based payment network, suffered a setback after Japan’s Resona Bank said it would no longer use MoneyTap, a consumer-centric retail payments app that uses Ripple’s enterprise blockchain technology.
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on April 13 at 8:30 pm IST) were
Movers

SuperEdge [ECT]- Showing a rise of 1289.47%
ZelCash [ZEL] – Showing a rise of 272.82%
Lambda [LAMB]- Showing a rise of 264.52%

Shakers

Profile Utility Token [PUT]- Showing a drop of 59.67%
Gambit [GAM] – Showing a drop of 56.37%
Optimal Shelf Available [OSA] – Showing a drop of 49.78%

What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
The post Week in Review: Cryptocurrency Price Analysis for the Week April 8 to April 13 appeared first on Coingape.
Source: CoinGape

How Do Cryptocurrencies Impact Accountancy?

Coinspeaker
How Do Cryptocurrencies Impact Accountancy?
In this guest post, you’ll find how such exciting and risky financial tools as cryptocurrencies, impact the world of traditional accounting.
How Do Cryptocurrencies Impact Accountancy?

Continue reading at Coinspeaker
Source: CoinSpeaker

World Bank and IMF Together Launches ‘Learning Coin’ Cryptocurrency, But What’s the Deal?

Two of the largest international organizations, World Bank and IMF (International Monetary Fund) has reportedly rolled out private blockchain and a quasi-cryptocurrency called ‘Learning Coin’.
Hub for Knowledge and Not Backed By Monetary Value
So-called ‘Learning Coin’ initiative by IMF and World Bank is first reported by ft media and notes that the organizations have already launched this coin to ‘better understand the emerging technology.
It says that the coin doesn’t hold any monetary value and will not basically work as Bitcoin. Learning Coin will rather work as ‘hub for knowledge’ for the staff of IMF and World Bank to let them understand various aspects revolves around cryptocurrencies – such as smart contract, distributed ledger, challenges across crypto-ecosystem and more. Nevertheless, this learning coin is unavailable outside of the IMF and World Bank.
Addressing the purpose of learning Coin, IMF said in a statement that this fills gap and form ‘strong knowledge base of the technology’ among the staff of both organizations – World Bank and IMF. The statement further notes that;
The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology.
Also Read: Is this the beginning of the end? Billionaire Bitcoin Investor Expects a 30% Dip
Bullishness of IMF
Worth to note that IMF, since past few days appears with bullish sentiments around cryptocurrency and its use cases in near future. Consequently, Coingape reported how ‘IMF rolled a Twitter poll and seeks user’s opinion towards alternative payment system – to be applied for lunch in the next five years’. Apparently, the poll ended and the result shows ‘cryptocurrency’ scored higher than rest three alternatives. Below is the result of the poll conducted by IMF recently;
Source: Twitter
Coming back to Learning Coin, it works as a hub for Knowledge and will share informative content in the form of videos, blogs, research, and presentations. The coin will be given to the IMF and World Bank staff only upon completion of learning a certain set of educational material/ set milestones. Although the coin doesn’t carry any monetary value at present – developers are researching and testing ways to let staff redeem the coin.
What do you think about ‘learning coin’ launched by the IMF and World Bank? Share your thoughts with us. 
The post World Bank and IMF Together Launches ‘Learning Coin’ Cryptocurrency, But What’s the Deal? appeared first on Coingape.
Source: CoinGape

Chainalysis gives new solutions for FATF’s ‘Virtual Asset Service Providers’ recommendations

Decisions taken by regulatory authors have usually created a make or break situation for cryptocurrency companies in the short term or the long term. In a recent letter written to the Financial Action Task Force [FATF], Chainalysis, a cryptocurrency organization touched on the KYC-AML [Know Your Customer-Anti Money Laundering] recommendations given by the regulatory body.
One of the main clauses as mentioned by Chainalysis in the report read:
“Forcing onerous investment and friction onto regulated VASPs, who are critical allies to law enforcement, could reduce their prevalence, drive activity to decentralized and peer-to-peer exchanges, and lead to further de-risking by financial institutions. Such measures would decrease the transparency that is currently available to law enforcement.”
The statement comes after the FATF stated that companies involved in the virtual assets field need to submit information regarding individual transactions whenever required by the FATF. Another rebuttal to this recommendation made by Chainalysis stated that in most circumstances, VASPs are unable to tell if a beneficiary is using a VASP or their own personal wallet in any given transaction. According to the cryptocurrency company, the above-mentioned factor is another reason why requiring transmission of information identifying the parties is not feasible.
The last time Chainalysis had grabbed headlines was when it got embroiled in the Coinbase controversy a month back. Coinbase had voluntarily or involuntarily roped in Chainalysis when Christine Sandler, Coinbase’s former Director of Institutional Sales had stated that its partners had sold user data to other parties. The comment was refuted by Chainalysis in a blog post, which said:
“We do not share any personally identifiable information about cryptocurrency users with exchanges. When we screen a transaction in KYT for an exchange customer, we add it to our list of transactions made by that service.”
The post Chainalysis gives new solutions for FATF’s ‘Virtual Asset Service Providers’ recommendations appeared first on AMBCrypto.
Source: AMB Crypto

How is Binance Helping to Create a Blockchain Niche Around the World

The pioneering brands in Blockchain and cryptocurrency have always marveled at the brilliance of Blockchain. A plethora of applications of cryptocurrency and blockchain have been proposed over the past years, and many come to fruition as well.
However, the biggest roadblock in the adoption and success of these applications have most often been the lack of knowledge and support beyond the global fintech community. Binance is one such brand that aims to develop an ecosystem of Blockchain and cryptocurrency around the world.
The two new wings under Binance that aims to carry the torch of Blockchain around the world are Binance Lab and Binance Academy.
Binance Labs: BUIDLing The Ecosystem of Blockchain Start-ups
The Binance Labs is a venture subsidiary of Binance that aims to incubate, fund and empower Blockchain and cryptocurrency based start-ups. The biggest problems that even the best of the ideas and teams face during the early phases of a start-up is funding and proper mentorship.
Binance is focused on solving the most critical problems facing the blockchain industry by putting an emphasis on mentorship, guidance, and education. $500k for a 10% stake is most often a good deal for both parties.
Currently, two batches of around 8-10 start-ups have been incubated by the Binance Labs. Ella Zhang has been appointed as the CEO of Binance Lab. Contentos, Nym Technologies, Decore, and SafePal are some of the top projects currently working with Binance Labs.
These are classified under the accelerator programs that help the start-ups during their early phases. Binance Labs also announced a fellowship grant of $15,000 to three open-source Fellowship projects on 12th April 2019. The start-ups which received the grant are Ironbelly, HOPR and Kitsune Wallet.
Binance Academy
The Binance Academy is the educational wing of Binance that covers nearly all aspects of Blockchain and cryptocurrency including trading tutorials and is free of cost.
The online academy covers a wide range of topics about Blockchain and cryptocurrency. The categories included in the academy are: Blockchain, Security, Economics and comprehensive Binance tutorial as well.
The Academy provides the perfect portal for laymen to learn about Blockchain and cryptocurrencies. The topics covered would also interest all classes of cryptocurrency enthusiast from developer to an intra-day trader as well.
Also Read: Binance CEO Issues Warning to Delist Bitcoin SV, Joins the #WeAreAllHodlonaut Movement On Twitter
Found in 2017, Binance Exchange is the largest Exchange in the world w.r.t to volume, and it was one of the first exchanges to open the floodgates for all cryptocurrencies without any limitations on the number of users as well. Binance also has a charity arm under its name; the Binance Charity Foundation is a philanthropic arm of Binance that seeks to bring change in the under-developed countries of the world.
What are your views on these extended organization from Binance? Will it achieve its aim of creating a new ecosystem of Blockchain and Cryptocurrencies? 
The post How is Binance Helping to Create a Blockchain Niche Around the World appeared first on Coingape.
Source: CoinGape

‘Distributed ledger technology solves more problems than linear networks’, claims JPMorgan official

The integration of the cryptocurrency market with the mainstream financial market has been a priority ‘numero uno’ for luminaries in the world of digital assets. The goal has been slowly getting traction as many mainstream institutions are partnering with cryptocurrency companies or they themselves are creating their own set of tokens and distributed ledger technologies.
In the latest International Monetary Fund [IMF] Springs Meeting held in Washington DC, officials from various organizations such as JPMorgan and M-Pesa spoke about the effects of DLT and the changing landscape of the financial market in a panel moderated by IMF Chief Christine Lagarde.
The official from JPMorgan stated that the organization’s entry into the field was to provide useful solutions for customers and that a little bit of competition in the field, if beneficial to the users, is always welcome. She added:
“The United States is a mature market but is still less mature when you compare it to markets like China. They have a very mature infrastructure at the point of sale and calculations show that almost 72 percent of the transactions is represented by debit cards or credit cards.”
The JPMorgan official admitted that the focus is still to make it a Peer to Peer network but with the security of a banking structure. She also revealed that distributed ledger technology is great to bolster the KYC-AML [Know Your Customer-Anti Money Laundering] process. According to her:
“The DLT is great to filter bad actors in the banking system. It is a much better process when compared to the earlier ways of making phones calls and confirming with other banks and entities.”
Christine Lagarde further asked the JPMorgan official if the ledger stores the history of transactions, to which she replied that they don’t as it is a collaborative effort involving over 200 banks. The banking giant also claimed that they don’t charge other banks for accessing their ledger.
The post ‘Distributed ledger technology solves more problems than linear networks’, claims JPMorgan official appeared first on AMBCrypto.
Source: AMB Crypto

IMF Managing Director Explains How Cryptocurrency is ‘Changing the Business Model of Commercial Banks’

The adaption and progress of Blockchain and cryptocurrencies have gained considerable momentum now which increases the responsibility of Global Organizations like the International Monetary Fund (IMF) to maintain the stability in world economics.
The potential of Blockchain and cryptocurrencies goes beyond the capabilities of Bitcoin. Currently, the Regulators and Central bank face not a single threat in the form of Bitcoin, but also the associated disruptive technology and the army of digital currencies that could change the current economic system of the world.
Incumbent Banks Face Blockchain Disrupters
The IMF Managing Director, Christine Lagarde recently affirmed that commercial banks have started to feel the heat and the need for innovation and transformation in the current Financial system. Not only Blockchain technology but cryptocurrencies are alone ‘disrupting’ the global finance sector.
Lagarde hinted that the ‘JPM coin,’ which was launched by Banking Giant JP Morgan and Co. in February 2019 is the proof that digital assets are seeping into the financial system. Moreover, she also expects that the limitations on the use of the JPM coin “to be scaled beyond institutional clients.”
Lagarde noted in an interview with the CNBC on Wednesday 10th April that,
“The voices that we heard which I thought were really interesting were those of the Regulators and central bank Governors.” She said that they accepted that “this is good and this is helpful and is changing the business model of commercial banks”
Facebook also hinted at its plan of releasing its cryptocurrency which would potentially enable transfer of value between billions of users worldwide. The digital assets and tokenized economy are “shaking the system” from its core.
The Central Bank of Kenya has granted a banking license to a Telecom Company. There are many Data and Information firms like Amazon and Google which can enter the space with their coin too. There are many other Crypto-Firms which are seeking regulatory approval from major Federal Institutions to promote the use of Blockchain and Cryptocurrencies.
Nevertheless, as a cautionary note and highlighting the responsibility of the IMF, she added that maintaining stability in the financial system is IMF’s prime focus and would not let unchecked innovation disrupt the system adversely.
“But we have to mindful of two things: trust and stability of the system.”
Go you think Apple and Google will release their cryptocurrencies too? What do you think about the tokenization of the economy? Please share your views with us. 
The post IMF Managing Director Explains How Cryptocurrency is ‘Changing the Business Model of Commercial Banks’ appeared first on Coingape.
Source: CoinGape

Token Taxonomy Act makes comeback; proposes removal of cryptocurrencies from umbrella of securities

Cryptocurrencies being characterized as securities may soon fade away, courtesy of the reintroduction of the Token Taxonomy Act in the United States House of Representatives. Proponents of the decentralized currency realm have long contested decentralized currencies being labeled with the securities tag.
Proposed by Representative Warren Davidson (R), the Token Taxonomy Act will amend the infamous Securities Act of 1933 and the Securities Act of 1934, thereby removing cryptocurrencies from under the umbrella of securities. The act was also attested by Darren Soto (D), Josh Gottheimer (D), Ted Budd (R), and Presidential candidate, Tulsi Gabbard (D), who is a known crypto-investor.
The importance of the act was spelled out by Davidson, who stated that sans the act, the United States would cede the digital economy to emerging markets of the east. He stated,
“Without it, the U.S. is surrendering its innovative origins and ownership of the digital economy to Europe and Asia. Passing this legislation, Congress would send a powerful message to innovators and investors around the world that the U.S. is the best destination for blockchain technology.”
In December 2018, during the close of the legislative season, the Token Taxonomy Act was first introduced. However, it didn’t make much headway then. The recent version will clarify the powers of regulatory bodies like the Commodity Futures Trading Commission [CFTC] and the Federal Trade Commission [FTC].
However, all is not bright. The Act also looks to supersede pre-existing state laws regarding the domestic cryptocurrency industry within its borders. In legal terms, the Token Taxonomy Act will add to the National Securities Markets Improvement Act, which will increase the federal government’s power over the decentralized currency field.
This will be an unprecedented withdrawal of state power in light of the center’s overreach, many legal and crypto-analysts commented. States would cede digital assets regulation to the Federal government, in what will be a blow to not just decentralized currency, but also decentralized governance.
Several analysts have pointed out the semantic confusion that will exist when legislation for a “digital token,” or a “virtual currency” will take place. This will lead to a legal vacuum, leading to the emergence of more problems.
On the bright side, the act will allow the token seller to undercut regulatory supervision, if they can justifiably prove that they weren’t selling securities.
The post Token Taxonomy Act makes comeback; proposes removal of cryptocurrencies from umbrella of securities appeared first on AMBCrypto.
Source: AMB Crypto

World’s First Lightning Network (LN) based Decentralized Bitcoin Exchange, ‘Sparkswap’ Goes Live With Beta Version

Sparkswap, the world’s first Lightning Network (LN) based Decentralized Exchange (DEX) went live with its beta version on Monday, 8th April 2019.
SparkSwap is an ambitious Cryptocurrency Exchange that is both decentralized and also world’s first Exchange built on the Lightning Network (LN). The private keys of the Sparkswap Exchange Wallets are held with the users itself providing protection from exchange related issues.
Terry Griffith, Sparkswap Founder announced that
Sparkswap, the first cryptocurrency exchange built on Lightning Network Atomic Swaps is live for trading on MainNet in its Public Beta.
Nevertheless, trading will be limited during the beta launch, and only BTC/LTC trading pair will be active as the developers perform would need the incubation time to assess the real-time operations.
Exchange of the Future
Lightning Network Atomic Swaps is the core technology upon which the Exchange operates. The Lightning Network (LN) on Bitcoin (BTC) will be used to facilitate the cross-blockchain swaps and transactions along with Sparkswap’s DEX software. Together they are both fast and reliable.
“At no point can either Sparkswap or your counterparty deprive you of your assets — the trades either complete or they do not,” Sparkswap Founder Trey Griffith told Bitcoin Magazine. “We are also a venue for trading, not an over-the-counter service like ShapeShift, so users are trading with each other.”
Griffith also noted that:
“Our focus is on making cryptocurrency trading fast enough for professional users without sacrificing Bitcoin support and self-custody,”
Snapshot of the Sparkswap Exchange
However, the user interface of the exchange resembles the DOS window currently, which might cause a hindrance in its mainstream adoption.
The platform was initiated sixteen months ago, soon after the Lightning Network development started on Bitcoin (BTC). The Exchange also stands as a testimony of the development of the Lightning Network (LN). While the founder agreed that ‘Lightning Network is not a finished product’ yet, but even now it offers a plethora of applications like cross-chain swaps.

One more step on our way to building infrastructure for the future of the financial system. https://t.co/wMGWZTDfUp
— Trey Griffith (@tgriff3) April 8, 2019

Moreover, the Startup also raised $3.5 million in the initial seed round from Initialized Capital, Pantera Capital, Foundation Capital, and Y Combinator. Pantera Capital is an investment firm and hedge fund operating exclusively on Bitcoin, other digital currencies and companies in the space.
Do you think that the exchange will gain mainstream soon like the Binance Exchange? Please share your views with us.
The post World’s First Lightning Network (LN) based Decentralized Bitcoin Exchange, ‘Sparkswap’ Goes Live With Beta Version appeared first on Coingape.
Source: CoinGape

Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason

Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading. Although most of the sentiment is derived from the sentiment of the Bitcoin- the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let’s look at the few indicators that are used widely across to determine the sentiment.
Bitcoin Sentimental Analysis
As mentioned it’s the largest coin in the market that decides most of the trend for the crypto markets is necessary to understand that sentiment it garners among the community. A lot of news flow and sell off has dampened the short term sentiment but yes there are some long-term positives which make Bitcoin an interesting study. An analysis of its social mention and greed and fear index would give us a clear idea of what is happening

Analysis Type
Tool
Analysis- Score
Sentiment

#BTC – Hashtag Analysis
Keyhole
Score: 87
Positives: 30.3%
Negative: 12.7%
Neutral- 54.0%
Neutral moving to Positives

#BTC- Social Media Mentions
Social Mention
Sentiment 7:1 in favor of positives
With 81 scores towards neutral and 13 in favor of Positives
Positive raising

Fear to Greed Index
Alternative.me
Score 56–Greed
Positive

Fear to Greed Index
CNN Money
Score 49 -Neutral
Neutral

 Bitcoin has stuck over USD 4000 and that is what is keeping the sentiment from neutral to positive. The Greed and Fear Index is also towards greed side signifying there could be further upside to this rally. While the rally may continue, caution too would slowly creep in as the coin moves toward the upside of the range. Still, it looks like bulls may have more fun on the street.
Also Read: Top Trending Crypto News of the Week: The Bitwise Report, Bithumb, and Bitcoin ETF Among Major Newsmakers
Altcoin Sentimental Analysis
Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it

Altcoin
Keyhole #  analysis
Social Mention
Sentiment

ETH- Ethereum
Score – 82
27.3% Positive
5.7% Negative
67%- Neutral
81 towards Positives
Neutral 12
Neutral moving towards positive

XRP- Ripple
Score 84
31.8% Positive
5.6% Negative
62.6% neutral
3:1 towards Positives
Neutral 78
Neutral to Positive, Positive rising

BCH- Bitcoin Cash
Score 72
30.3 % Positive
11.6% Negative
58.2% Neutral
6:1 towards positives
Neutral 116
Neutral to Positive- Positives sneaking up

EOS
Score 84
32.1% Positive
6.0% Negative
61.9%- Neutral
5:1 towards positives
Neutral 105
Neutral to Positive-
Positives rising

XLM-Stellar
Score 92
44.1% Positive
3.8% Negative
52.2% Neutral
9:1 towards positives
Neutral 62
Neutral to Positive, Positives  rising

All altcoins seem to be falling the Bitcoin sentiment and moving on the positive side. There are some indications that we could see some price rise and Alt season may last a little longer. Unless some major setback is seen in any of the coins, the sluggish in the altcoins could subside in coming days
Will this sentiment actually pull back the prices? Do let us know your views on the same.
The post Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason appeared first on Coingape.
Source: CoinGape

‘Coinbase Effect’ on Cryptocurrency Listing is Back

Coinbase Custody recently decided to add staking of Proof of Stake (PoS) cryptocurrencies. While many cryptocurrencies follow Proof of Stake (PoS) algorithm, Coinbase Custody is the first trustworthy medium for staking the cryptocurrencies.
Coinbase announced the addition of the Tezos (XTZ) cryptocurrency in the Coinbase Custody. Coinbase Custody is an independent custodian for cryptocurrency assets. The digital assets on the Coinbase Custody Platform are stored on behalf of the customers; it guarantees security and privacy of the assets.
Coinbase updated noted that:
Coinbase Custody changes this calculus. No other staking provider has our track record of security and regulatory compliance, nor our comprehensive, best-in-class insurance coverage.
How Will Coinbase Custody benefit the price of Proof of Stake (PoS) Coins?
Moreover, Coinbase Custody not only includes a secure platform for storing cryptocurrencies but also provides for staking or baking of the cryptocurrency. Staking is the process by which distributed consensus is reached on Proof of Stake (PoS) platform. It rewards the stakeholders in new coins that are forged after confirmation of a new block.
Tezos (XTZ) is the first cryptocurrency chosen by Coinbase Custody which also allows offline staking. Hence, institutional investors are expected to take active participation in the process.
“The launch of Tezos staking through Coinbase Custody serves an acute need that existed up until now: a way for institutional participants who rely on a secure, offline custodian to take an active role in the network,” offered Kathleen Breitman, co-founder of Tezos.
Tezos (XTZ) Gains 100% in 2019
The price of Tezos token reached $1 valuation for the first time in 2019 on 30th March. It gained 100% since the beginning of the year when its price was $0.499.
XTZ/USD 2019 Chart (Coinmarketcap)
The return on staking Tesoz is around 7% annually. Moreover, the stakes are returned in Tezos itself. Hence, if the amount of staking increases continually the return on it is likely to decrease. The price of Tesoz is rising on the buying pressure from institutional investors looking to stake the cryptocurrency for its annual returns.
‘Coinbase Effect’ To Rule The Crypto-Markets Again?
Tezos (XTZ) is the first cryptocurrency to be included in the Coinbase Custody staking initiative. However, it also plans to add other PoS crypto projects on its Custodian platform.
Coinbase noted in an announcement:
We plan to offer secure, regulated staking services for any chains our clients invest in.
Since staking involves parking a significant value in a cryptocurrency wallet, Coinbase Custody has taken the initiative to provide a secure platform for implementation. Institutional investors are expected to participate in the staking program. However, a continual increase in investment would adversely affect the price of the cryptocurrency in the long run.
It also reminisces of the ‘Coinbase listing effect’ which was prevalent in the cryptocurrency markets in 2017 and 2018; any coin listed on coinbase.com would benefit significantly from increased investor confidence and a sudden increase in volume. The Coinbase Custody Platform now offers to provide an annual return. Hence, the effect on the price of inclusion in Coinbase Custody of PoS (Proof of Stake) cryptocurrencies is expected to be significant in the near future.
The post ‘Coinbase Effect’ on Cryptocurrency Listing is Back appeared first on Coingape.
Source: CoinGape

Cryptocurrency-backed Palladium to be tabled by Russian billionaire

Vladimir Potanin, the billionaire CEO and chairman of the Board of Management at Norilsk Nickel, the world’s largest producer of palladium, is looking to include cryptocurrency tokens for trading palladium, stated a March 29 Bloomberg report.
Norilsk Nickel operates a palladium fund in Switzerland and is in talks with Swiss authorities to issue tokens backed by the rare metal. Potanin further added that this trading concept would be expanded to include other trading concepts.
He stated:
“People more and more tend to use decentralized networks and platforms that don’t have a main operator. We want to be active participants of this process.”
Blockchain, the technology underpinning the cryptocurrency realm has found its way into several industrial and commodity sectors. This system of data tracking and administration leads to cost reduction and provides a seamless way of tracking materials on the supply chain.
The customers of Norilsk Nickel are on board this concept of cryptocurrency-traded palladium, confirmed Potanin who had mentioned the “idea” to them earlier. The CEO of the metal producing company believes that the infusion of digital assets in the transaction of metal trading is “simpler and more convenient”.
Unwanted volume, especially in the metal trading industry, hampers the overall inventory of the client. If the system mirrors the decentralized currency space, this unwanted volume could be sold easily to other parties, stated the billionaire.
Potanin is also lobbying the Russian government to set-up a concrete framework for the regulation of digital currencies in the country. The latest information from the Kremlin suggested that a hearing to discuss crypto-regulation had been pushed to April 2019.
The Russian billionaire hopes that a positive bill is approved in the summer so that his operations can commence by the close of the year. Potanin added that if the bill is passed by lawmakers, the effect of the same would be “enormous” for the country.
However, despite the imminent hearing and the prospects of a law that would acknowledge the country’s growing digital assets industry, Potanin laments the nature of operation of such a platform. In his opinion, the platform will be run by banks and exchanges which will limit the scope of operations.
To counter this bank-exchange duopoly on the country’s digital assets industry, Potanin is working on an intellectual property digital platform. This platform will pool ideas from industrial companies and start-ups to provide a knowledge resource for crypto-centric companies.
Brazillian mineral-giant Vale SA has also been mulling an entry into the digital assets platform, however, this will only serve the company’s internal functions.
The post Cryptocurrency-backed Palladium to be tabled by Russian billionaire appeared first on AMBCrypto.
Source: AMB Crypto