Innovation Continues Despite Crypto Crush, 0x Launches Web and dApp Payment Platform

As cryptocurrency prices continue to tumble, some blockchain projects may disappear into the digital dust while others forge on with product development that will lead to ease of use and greater adoption.
0x Instant – Crypto Transfers Simplified
Standardization of payment platforms and cross compatibility between them is one issue that needs to be addressed before cryptocurrencies get anywhere near mainstream adoption. The 0x protocol aims to do exactly that and has taken a step towards that objective with the announcement of the 0x Instant payments service.
Using the service with ‘a few lines of code’ can enable crypto purchasing to be added seamlessly to any app or website according to the announcement medium post. The open source code also allows hosts to earn a little commission on every transaction if they configure it to do so.
“Under the hood, Instant aggregates liquidity from 0x relayers for any ERC-20 or ERC-721 asset. It automatically finds the best prices within the 0x networked liquidity pool and lets users pay for tokens with ETH via MetaMask, Ledger, Trezor, or any other Ethereum wallet,” the post added.
An off-the-shelf UI and Instant Configurator can be embedded into games or dApps to enable instant crypto payments. The blog adds that ‘developers and creators can utilize Instant to build product experiences that couldn’t have existed before.’ Non-fungible token marketplaces, non-custodial crypto wallets, dApps, and crypto price feeds are already utilizing the service according to the release.
Coinbase Wallet has already integrated 0x Instant into its mobile wallet app for seamless transfer of Ethereum based tokens. Others crypto operations such as CoinGecko, Augur and Emoon are also already utilizing the system.
By eliminating third party exchanges as intermediaries, the platform allows dApp to dApp or wallet to wallet transfers and conversions minus the exchange commissions. Instant has also been designed to allow crypto-based price feed websites to monetize traffic by adding their own fees on transactions within the site.
ZRX Market Reaction
0x is essentially a protocol layer that supports the decentralized exchange and transfer of all Ethereum based tokens. Its focus is towards developers that need exchange functionality for a wide range of tokens.
Unfortunately for its own native token, the market reacted in the wrong direction as ZRX has been pulled into the digital quagmire with the rest of the altcoins. At the time of writing 0x was down 3% on the day to $0.318. Since its all-time high of over around $2.50 ZRX has plunged 87% to current levels.
Innovation and development is the key to the continuation and longevity of crypto projects, and this must now become the primary focus above the dismal prices for those that are to survive.
 
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Binance Posts Video Demo of Its Decentralized Exchange Featuring Binance Chain

Binance, the biggest crypto exchange by volume, yesterday released a new video demonstration of its decentralized exchange ahead of its launch in Q1 2019.
The broadcast exhibited the trading interface of Binance DEX – as the platform is called – along with its web crypto wallet feature and Binance Chain, Binance’s native public blockchain explorer which, according to the company, will be available on a testnet soon.
Source: Binance YouTube
The video tour revealed that Binance DEX would resemble the original web trading platform, especially when it comes to interface. However, there were some notable differences such as a feature that would allow users to generate a 24-word mnemonic seed phrase for private keys. Binance DEX also possesses a “balance tab,” a feature that would enable users to access the status of their accounts, and a “user icon” that would show individual wallet addresses.
With Binance Chain, individuals will be able to extract information related to blocks, transactions, wallet addresses, and order IDs, the demonstration explained.
Source: Binance YouTube
Binance Chain will empower the record keeping infrastructure of the DEX. According to the statement made during its introduction in March, the public chain also expects to offer “low latency, high throughput trading, as well as decentralized custody of funds” to mitigate single points of failures.
The block explorer would also list a feature that would list details about all the coins listed on the Binance DEX.
Binance also cleared that their DEX would not hold users’ private keys, which means they will not be able to move users’ funds as centralized exchanges do. Instead, their platform will integrate decentralized wallet applications like Trust Wallet, known for their server-free infrastructure. They would enable users to keep their wallets’ private keys in their devices than with a third-party. It means that only private key holders would have access to the funds.
Related Reading: Zhao: Binance Chain to Be Ready in “Months,” Enabling Projects to Issue Tokens
Price Surges After Announcement
The video demo release met with a positive response from the Binance trading community.
The BNB price against the U.S. Dollar jumped as much as 6.2% since it opened the day at $5.99. On a 24-hour period, according to CoinMarketCap, BNB established circa 15% gains while the rest of the top crypto assets remained red.
Source: CoinMarketCap.com
Nevertheless, as evident with the way the crypto market behaves, BNB is likely to correct lower in the near term, having been outreached its upside targets. The coin’s long-term aspects are fundamentally bullish, especially because Binance Chain would function no less than Ethereum. The chain would allow new blockchain projects to digitize and launch their assets – all backed by the BNB token.
BNB will migrate from ERC20 standard to its Binance Chain upon the mainnet launch.
The BNB/USD pair is trading at $6.34 at the time of this writing.
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Tokens Plummet 15-20% Following SEC’s Crackdown on ICOs, Dark Days Ahead

A broad selling action in the cryptocurrency market today saw ICO coins losing 15 to 20 percent of their value. And the sentiment is likely to extend thanks to the U.S. Securities and Exchange Commission (SEC).
The U.S. regulator at the beginning of this month charged the founder of a decentralized exchange (DEX) EtherDelta on accounts of enabling the trade of unregistered securities. The Exchange until this time was available to investors as a source of liquidity for the ICO tokens.
Its “decentralized” status allowed ERC20 projects to list their assets without regulatory approval, but the SEC’s crackdown has closed their doors effectively. For the regulator, the creator of a smart contract-enabled exchange would also need to register its work with the authorities. And whatever asset these exchanges would list on their trading platforms, would have to get a securities license as well.
The news sent shivers across the lower market cap coins, each registering huge daily losses on the top of what they had already lost amidst the Bitcoin Cash fork. Loopring, for instance, dropped 19.11% against the U.S. Dollar on Monday, followed by Maker, Self, and ICON that also noted steep drops in their value.
SOURCE: CoinMarketCap
Related Reading: Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down?
DEX, ICO Industry in Trouble
The SEC decision has led the crypto community to believe that the regulator would target more exchanges in the future.
It has been warning about the potentially unlawful trading platforms for trading crypto assets already. The EtherDelta case particularly has validated that even exchanges without a central authority in place could land their developers in trouble. Zachary Coburn, the creator of EtherDelta, became a test study after he agreed to settle and pay a total of $388,000 in penalties, disgorgement, and interest.
The impact of the SEC’s crackdown can affect developers in the longer term, especially those who are U.S. residents. While it is true that the regulator cannot stop a DEX from running online, they are still able to hold someone liable for beginning the trading platform at fault. Therefore, the only way a DEX developer can avoid punishment or a fine is by moving to locations with no U.S.-treaties. It sounds good on paper but, in reality, it would not be feasible.
The only option these developers are left with is to go anonymous. But that doesn’t always work.
As far as the ICO industry is concerned, the backers of the now-listed assets have two options: either get a security license or unpin the U.S. from their crypto market map. In the near-term it could disallow U.S. residents to trade the unlicensed digital assets that the SEC deems as securities, provoking them to sell-off.
“I read this as the SEC laying the groundwork to prosecute ICOs directly for failure to register under the Securities Act, which they still haven’t done so far (except for blatant Ponzi & scams),” said Jake Chervinsky, a lawyer at U.S.-based Kobre & Kim agency. “If you launched an ICO after the DAO Report, you might be in the line of fire.”
Featured image from Shutterstock.
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Substratum Announces New Type of Crypto Exchange, beats China’s Great Firewall

Exchanges can currently be divided into two distinct categories, centralized such as Coinbase or decentralized such as IDEX. A hybrid may be on the horizon, however, from the founder of Substratum.
A Distributed and DEX Combo
According to PR Newswire Substratum has announced the development of Amplify Exchange, its new-fangled combination of distributed and decentralized exchange. It aims to provide crypto/fiat gateways for the top one hundred digital currencies when launched.
The exchange is being touted as an easy to use platform enabling traders to buy and sell directly from their bank or credit accounts. Additionally it will be a payment platform for users to buy and sell from merchants accepting crypto.
Founder and CEO of Substratum, Justin Tabb, stated;
“I am thrilled to announce the introduction of AMPLIFY EXCHANGE. It had been my vision from the day I started Substratum to build an ecosystem of products that work great independently, but are truly exceptional when used all together. With our Amplify Exchange we wanted to give everyone, regardless of his/her location or crypto expertise, the ability to easily get into and out of crypto tokens and coins. This has never been done before.”
The new exchange is the third product in the Substratum ecosystem with SubstratumNode and CryptoPay preceding it. The nodes will verify the transactions on Amplify enabling earnings in AMPX and SUB tokens for those running them.
Cracking China’s Censorship Machine
Substratum has been designed to decentralize the web by eliminating censorship imposed by repressive regimes, China being the prime example. Substratum nodes are designed to serve content to those where internet access is restricted, similar to a VPN. This technology, along with a whole raft of other internet and crypto related things, has been banned in China.
By using a global network of nodes running on user’s computers Substratum will be harder to block than regular VPN’s which have websites and centralized servers. The team already claims to have successfully routed network traffic through China’s great firewall and has posted videos on accessing blocked services such as Reddit.

How to use @reddit in #China? #SubstratumNode will gain you access to all internet content worldwide. #InternetCensorship comes to an end with the #Substratum Network.https://t.co/COAXiEP51j#cryptocurrency $sub #technology #bitcoin #blockchain pic.twitter.com/iBM08IM4vk
— Substratum (@SubstratumNet) November 5, 2018

A decentralized network powered by individuals with the goal of liberating internet access in heavily censored countries is coming closer to reality.
As with many altcoins though, SUB has suffered a major attack of the bears this year. The token has fallen over 95% from its January all-time high of $2.90. It is currently trading around $0.11, down 2.5% on the day but up almost 4% on the week.
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Waves Platform Negotiating with Malta Government Amidst Growing Relocation Trend

The Waves Project’s CEO, Sasha Ivanov, is engaged in negotiations with the Maltese government in an effort to gain all the proper accreditation in order to run their operations on the island. The news comes amidst a growing trend of cryptocurrency and blockchain companies moving to Malta in order to be in a country with a friendly regulatory environment.
‘Blockchain Island’ Growing in Popularity
In a Medium post from Wave’s official blog, the blockchain company explained that they are in the process of moving their platform to the Mediterranean island nation and are currently discussing what benefits the company’s blockchain solutions can bring to the island’s infrastructure.
The Medium post notes that:
“Waves attended a meeting with government representatives and other interested parties on the island to discuss technological cooperation in the fields of healthcare, land registry, voting and other areas, as well as proposals to use Waves as a platform for tokenised financial instruments.”
The Waves Project was founded in 2016, and currently offers a crypto wallet, a decentralized exchange platform (DEX) and a tool for releasing tokens. They also offer a crypto token – WAVES – that can be used to trade with fiat currencies and to purchase various cryptocurrencies offered on their platform.
The Waves founder and CEO spoke about the move to Malta:
“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors.”
The Growing Trend of Crypto Companies Moving to Malta
The Waves Project is currently based in Moscow, and the move to Malta is due to the crypto and blockchain friendly environment. Recently, multiple other cryptocurrency companies have moved their operations to Malta, including Binance and BitPay.
Many countries, including Japan and South Korea, have increased their regulatory requirements for cryptocurrency exchanges, which has led many of these companies to find countries that offer more benefits to crypto companies in order to increase their economic output.
Malta’s Prime Minister, Joseph Muscat, discussed Malta becoming a blockchain hub, saying that:
“Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come. The Maltese government has legislated three acts that will provide legal certainty to this space, involving DLT and digital financial products and services such as virtual currencies and ICOs.”
The move to encourage blockchain companies to base their operations out of Malta, which is an incredibly small country, is strategic, as these companies will add jobs and economic stimulus to the country, while also increasing the government’s tax revenue.
The Junior Minister for Malta’s Financial Services, Silvio Schembri, spoke about Waves’ move to the island, saying:
“Malta is going through exciting times with world-renowned names associating themselves with us,” adding that he is “looking forward for even further cooperation with the Waves Platform in the coming weeks.”
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Cryptocurrency Market Update: 0x (ZRX) Still Climbing From Coinbase Pump

FOMO Moments

Crypto land is recovering slightly; 0x, Tezos, Digibyte and TenX on the up, VeChain suffering.

Monday morning in crypto land is developing into a green one for a change as markets rebound from weekend losses. Total market capitalization has crept back over $250 billion and signals are turning bullish.

Bitcoin is up just two percent to $6,470, breaking a key resistance level at $6,450. There are positive signals for BTC as it approaches the next level of support. Ethereum has done better with a gain of 4.7% to trade at $460 at the time of writing.

Most of the altcoins are generally in the green with the five pumped by Coinbase showing solid gains. According to Coinmarketcap today’s winner in the top 25 is 0x which is trading 10.5% higher. Zero-x is currently trading at $1.16, up from just over a dollar this time yesterday. On the week ZRX has climbed 16.5% from $0.97 this time last Monday, it fell to a weekly low of $0.75 on July 13 before the Coinbase announcement. Over the past month 0z has made 33% gains from $0.85 this time last month. Against BTC it is up 8% on the day to 17750 satoshis and 24% on the week from 14400 satoshis this time last week.

Decentralized exchange protocol 0x has benefitted most from the premise of a Coinbase listing. Binance is taking the majority of the trade volume at the moment with over 50%. That volume has jumped from $23 million to $45 million on the day resulting in a market cap increase to $600 million and a move up the charts to 23rd spot for ZRX.

Other altcoins performing well this morning include Binance Coin up 6%, Tezos climbing 7.8%, and Digibyte with a 18% pump. TenX is also flying at the moment with a 36% spike. VeChain is still having a nightmare losing another 6% in the last 24 hours.

Total crypto market capitalization is up 3.4% to just over $260 billion and trade volume has risen from $9 to $12 billion. A small recovery is on the way but it remains to be seen if it can be sustained throughout the week.

More on 0x can be found here: https://0xproject.com/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing one, looking for trends and possible fundamentals.

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