Ripple hints at disruption of SMEs, European industries by simplifying remittance and cross-border payments

Ripple is at the forefront of the payments industry and has disrupted cross-border payments using their proprietary blockchain technology and cryptocurrency XRP. It is now planning to take new strides after the company hinted at a plan to disrupt the SMEs and industrial sector in Europe.
The Ripple insight blog, Just-in-time, details the problems faced by a lot of industry players, including large-scale industries and small-to-medium enterprises [SMEs] with respect to simplified payment solutions and the efficient allocation of monetary resources.
The blog stated:
“… it’s also essential for startups and small-to-medium enterprises (SMEs) looking to compete in a global economy, especially those based in the E.U. Europe’s many frictionless borders allow a business to source supplies from a wide range of countries and have receive them within 5-24 hours.”
Although the sector has developed over the years, it still faces huge problems associated with on-time payments. Delayed payments have the potential to impede the supply and availability of goods. This is an issue that persists with intra-country transfers as well. The aforementioned blog noted this and stated:
“Cross-border payments within the EU sometimes happen quickly but can also take up to 24 hours if the payment was initiated outside regular bank opening hours or if it’s going through a country with slower processes like Spain.”
Ripple and other players in the industry, like the CEO of Tatum Blockchain API, Jiri Kobelka, believe that the next step for these industries is to take up a blockchain-based payments system. Jiri Kobelka said:
“I believe that if more European banks use blockchain for cross-border payments and allow their SME clients to benefit from faster, cheaper remittances, it will shift Europe’s economy to the next level and open the market for opportunities in the international trade.”
Such solutions are slowly gaining more supporters as well, with EU’s Eva Kaili being one of them. Kaili recently pushed for a blockchain-based payments system at a Ripple Regionals event.
The post Ripple hints at disruption of SMEs, European industries by simplifying remittance and cross-border payments appeared first on AMBCrypto.
Source: AMB Crypto

Bahrain to allow crypto-asset platform operators on a nine-month trial basis

The cryptocurrency market may have been going through some ups and downs, but that has not stopped other countries from acknowledging the benefits of blockchain technology and digital currencies. This was reflected by the recent wave of cryptocurrency adoption around the world, and the latest addition to the list is Bahrain.
The Middle Eastern hub for financial industries, Bahrain is now trying to regain stability by allowing companies using cryptocurrencies to function in the country on a trial basis, while drafting a set of comprehensive regulations.
Bahrain’s Economic Development Board’s business manager, Dalal Buhejji, told Bloomberg that she is confident that the central bank will issue the regulation. However, she did not mention any specific timeline for the same. According to earlier reports, the central bank had previously issued a consultation paper on draft regulations for crypto-asset platform operators.
This new initiative, which is expected to attract companies working with blockchain technology and cryptocurrency trading, comes at a time when the crypto-sphere remains unlicensed and unregulated in most of the major global financial hubs. The initiative will also force adopters to seek clarity from smaller jurisdictions that have been open to regulating the market, like Malta, Liechtenstein, Gibraltar, within a week, cited Bloomberg.
Buhejji said that the country’s central bank allows companies “to test their solution on a limited number of users, with a limited number of transactions.”
Twenty-eight companies have been given the permission to operate on a trial basis for nine months under the central bank’s regulatory sandbox, including SprinkleXchange which is an initial public offering platform built using blockchain.
SprinkleXchange, which is run by Sprinkle Group SA is based in New York and will go live this month with an initial cap of 10 listings. The CEO of the exchange, Alexander Wallin said that the first company will open by May.
Bhejji further added that the cost of operating a business in the country was comparatively lower than the rest of the Gulf, in an effort to encourage more companies working with blockchain technologies to move to Bahrain.
The post Bahrain to allow crypto-asset platform operators on a nine-month trial basis appeared first on AMBCrypto.
Source: AMB Crypto

EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise

The collective cryptocurrency market managed to hold on to the bulls as the recent upswing in prices decided to not subside. After adding nearly $10 billion to the global market cap in just under 24 hours, the market added another $3 billion the following day, spearheaded by the surging EOS [EOS] and Litecoin [LTC].
While the first massive uptrend was sparked by Binance Coin [BNB] and Stellar Lumens [XLM], EOS and Litecoin took charge the following day as the market reached $135 billion for the first time since January 10. The fourth and fifth coins respectively have been at loggerheads, constantly overtaking each other in pursuit for the coveted fourth spot which was occupied by Bitcoin Cash [BCH] for a long period of time.
EOS has amassed a 7.6 percent increase against the US dollar, the largest rise amongst the top-10. The coin was trading just under $3 for the better part of the past two weeks, prior to surging ahead at the beginning of the week. The coin began to rise on February 18, and at 11.00 UTC on the same day, the coin broke the $3-mark for the first time since mid-December.
EOS later shot up to its trading price of $3.85, at press time. The fourth-largest cryptocurrency in the market, at this point, is trading at its highest price for more than three months, a significant achievement considering the ongoing ‘crypto-winter’ that has hit the market.
In terms of the coin’s market cap, EOS broke the $3-billion mark at the beginning of the week. Since breaking the milestone, the coin has gone on to add $500 million and the current market cap of the coin stands at $3.51 billion, with a $400 million market cap lead over the trailing, but surging, Litecoin [LTC].
Exchange dominance of EOS trade volume is most noticeable on OKEx, which accounts for $215 million or 10.35 percent of the entire EOS trading volume via the trading pair EOS/USDT. The second spot was taken by Huobi Global and DigitFinex, which accounts for $107.38 million, or 5.16 percent and $104.93 million, or 5.04 percent of the trading volume respectively, on the same trading pairs i.e EOS/USDT.
Source: Trading View
Litecoin trails EOS both in the coin-ladder and in terms of the 24-hour price increase, despite a 6.8 percent incline. The coin was hovering below the $35-mark since the beginning of the month, following which it saw a massive rise on February 8, overtaking BCH and EOS in the process. In the first consideable rise, the price shot up by 36.08 percent to $45.44, and after briefly dropping to $41.46, the price broke the $50 ceiling on February 20 for the first time since mid-November. At press time, the coin was trading at $51.20, and is looking to sustain the rise.
Digital Silver has joined EOS in the “$3 Billion Dollar Club” breaking the said barrier at 1000 UTC on February 20. Litecoin had not crossed the $3 billion-dollar valuation since the BCH hardfork in mid-November. At press time, the coin had a market cap of $3.1 billion, leading the trailing Bitcoin Cash by just under $430 million.
Source: Trading View
The post EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise appeared first on AMBCrypto.
Source: AMB Crypto

XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP

The development and extensive adoption of cryptocurrencies across various institutions is a continuous operation. Ripple’s XRP, which is currently the third largest cryptocurrency in the market is constantly cultivating different partnerships and pushing the virtual asset forward for major trade applications.
InstiMatch Global is a networking firm which is trying to digitize the institutional system of allowing borrowers and lenders to establish trade through their own digital network. The company has now established a partnership with the R3 consortium which includes the testing of the Corda Settler platform for high-speed payments.
InstiMatch will test the Corda Settler platform and its ability to conduct large transactions in XRP as part of a pilot project. The testing for the platform is supposed to settle high volume transactions of over $1 billion with XRP in a tie-up with around 50 banks.
R3, a company based on distributed ledger technology for blockchain solutions has an extended platform product which is Corda. The Corda Settler platform is an open-source decentralized application on the R3 network and it was designed to enable large corporations and companies to move virtual currencies and assist in trade settlements and payments.
R3’s official website states that,
“Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other. This DApp offers the modern alternative to voice broking and replaces our present, centralized database version.”
InstiMatch has been able to tackle the latest settlement API and it has added the option of high-speed payments, which is crucial for the dedicated and quick execution of intra-day trades, via the Corda Settler dApp.
InstiMatch is hoping to have more than 100 counterparties from various sectors of trading and reach a broader region of involvement in the next 12 months.
This is not the first time Ripple’s XRP and R3’s Corda are headlining together. Previously, a major partnership had developed between both the companies and SBI Holdings, which acted as a medium of comprehension.
The President and Representative Director of SBI Holdings, Yoshitaka Kitao recently pointed out that XRP will become a global currency in the near future. He also mentioned,
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
The post XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise

Bitcoin, the king of all cryptocurrencies briefly touched the $4,000 range following which, it tumbled down again to the $3,900 range. The rally that started a few days back has brought back excitement and volatility to the once-stale cryptocurrency market.
The price of Bitcoin at press time was $3,938 and the market cap was at $69.68 billion. The 24-hour trading volume of Bitcoin crossed the $8 billion mark and was at $8.87 billion. BitMEX is the largest contributor to the total trading volume as it contributes 16.80% i.e, $1.81 billion  of it via the trading pair BTC/USD.
Although a lot of the traders expected Bitcoin to make a “Bart move,” Bitcoin followed the contrarian theory and broke to the upside.
1 Hour
Source: TradingView
The uptrend for Bitcoin in the one-hour time frame extends from $3,356 to $3,887. Since Bitcoin was in a sideways movement which was followed by an uptrend rally, there is no sight of a downtrend yet.
The support lines are seen at $3,358, $3,498, and $3,577 while the next resistance that Bitcoin has to break is at $4,043. However, considering the market sentiment, $4,000 could also act as a strong resistance point for Bitcoin.
The Parabolic SAR markers indicate bullish movement as the markers have begun forming below the price candles.
The MACD indicator for the aforementioned time frame indicates an imminent bullish crossover as the MACD and the Signal line are in close proximity to each other.
The Relative Strength Index shows that the buyers have a slight momentum due to the recent rally.
1 Day
Source: TradingView
The one-day chart for Bitcoin, which is a longer time frame, shows bullish signs as well due to the recent rally. The downtrend extends from $9,027 to $3,917. The rally needs to be much higher for the formation of a clear uptrend. The support can be seen at $3,198 while the next resistance can be seen at $4,111.
The Aroon indicator shows an Aroon green line that has struck the 100-line, indicating that the uptrend is in full swing.
The Stochastic indicator shows that the lines have crossed the oversold threshold in a bullish crossover.
The Chaikin Money Flow indicator shows that the money flow line has crossed above the zero, indicating a bullish scenario for BTC.
Conclusion
The one-hour time frame, confirmed by the MACD, SAR, and RSI is indicating a bullish outlook for BTC. The indicators, CMF, Stochastic and Aroon of the one-day time frame confirm the same.
The post Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH]: Bitcoin SV’s Calvin Ayre says ETH platform based on a “scam”

One of the biggest proponents of Bitcoin SV [BSV] since the coin hardforked in November 2018, Ayre Group’s Calvin Ayre has continued his attack on other platforms, referring to the Ethereum platform as a “scam.”
In a tweet posted on 19 February, Ayre referenced an article that reported the key features of scam initial coin offerings [ICOs], as listed out by the United States’ Federal Bureau of Investigation [FBI]. His tweet read:
“the entire Ethereum platform is based on a scam”
The article, based on an interview with the Section Chief of FBI’s Financial Crimes Section, Steven M. D’Antuono, stated that scamsters often misrepresent the Director’s professional experience to present a false image of the ICO’s popularity and state a hyped return valuation. Ayre likened the above-mentioned points to Ethereum.
D’Antuono further warned investors to keep a fair distance from those companies which are entirely based on the internet and suggested that they should check the jurisdiction of such companies’ operations, so that the laws governing the same are known.
Ethereum and Bitcoin SV have been engaged in a series of disputes, with the co-founder of the Ethereum platform, Vitalik Buterin referring to Bitcoin SV as “dumpster fire” in a December 2018 tweet.
Calvin Ayre said:
“I believe Vitalik is acting as a type of fraudster and has no business commenting on things he clearly is not competent to be commenting on such as Craigs abilities (outshine his) or what crypto actually scales and is sound money (not Ethereum)”
He further criticized the Ethereum co-founder, stating that Buterin is, “intentionally misrepresenting others for perceived benefit.”
This is not the first time that the word, “scam” has cropped up within the Bitcoin SV camp. Several Bitcoin SV proponents have lashed out at the opposition, labeling many as misleading and bent on preventing Bitcoin from achieving its true potential as spelled out in the 2009 whitepaper. On the other hand, several influencers within the non-BSV world have also voiced their opinion against BSV, labeling the coin as a scam.
The present episode follows Bitcoin developer Jimmy Song’s criticism of Bitcoin SV. Song also called BSV’s Craig Wright a “known scammer.” A pro-BSV editorial hit back at Song, referring to him as,
“The man who is most memorable for his cowboy hat rather than his ideas or creations in the BTC world.”
Users on Twitter had their own views on the subject, with one user @skret1989 commenting,
“ETH had the potential, but it spoiled it”
Another user @_hrusty commented,
“valuation developers and personnel can’t sign up fast enough. With drastically lower prices it appears approval of Ethereum’s platform has faltered. The proposed switch to PoS from PoW confirms this IMO”
The post Ethereum [ETH]: Bitcoin SV’s Calvin Ayre says ETH platform based on a “scam” appeared first on AMBCrypto.
Source: AMB Crypto

Binance CEO announces launch of its first Decentralized Exchange Testnet

In a recent interview with cryptocurrency and blockchain enthusiast, Ivan Liljeqvist, Changpeng Zhao aka CZ, the founder and CEO of Binance, spoke about listing and delisting coins on its platform, the standards to be met and above all, the launch of DEX.
Binance, which is essentially a centralized entity, is all set to step its toes into the DEX space after releasing its first version. Talking about supporting decentralized exchange without even being one, CZ said:
“I think we have listed no less than seven decentralized exchange coins”
CZ also admitted that any one of them could easily disrupt the centralized system run by them. He highlighted the aspects of security, ease of use and freedom rather than setting decentralization, as the goal of his work.
Talking about DEX’s profitability, CZ asserted:
“DEX may not generate a lot of revenue for Binance.com because the nodes will be decentralized and we don’t own most of them. But it is likely to increase utility and hence the value of the Binance coin and we still have decent number of Binance coin ourselves.”
CZ further said that DEX, which is a unique offering of the centralized exchange, is technically fully decentralized. He said:
“Users hold their own private key and the network never has access to the key.”
He also revealed that the mainnet runners for the DEX have not been decided yet. However for the testnet, all the nodes will be run by them in order to understand its workings.
The all-new DEX will be using Binance Chain to render instant transaction confirmation for a similar trading volume.
Earlier, the exchange had announced that their native Binance coin [BNB] will be moved to the Binance Chain, which was previously trading on the Ethereum blockchain.
Subsequently, other tokens might also move into the chain. Speaking further about the process, CZ stated:
“You can issue token, you can trade them, submit your proposals to get your coin listed on the DEX and the nodes will vote for you.”
Over 8 tokens have confirmed their migration into the Binance Chain from ERC 20.
Binance CEO CZ has previously been criticized by the community for removing coins from the exchange. To this, CZ responded by saying:
“Because we are centralized we will have to take on the responsibility of selecting projects and working with projects to list them. Basically, we want a listing of projects with a large number of users, good products, good communication with the community, consistent improvements and active developments.”
Other reasons for delisting include limited technical resources and security issues, said CZ. He finally concluded by saying that he believes that listing more coins for an exchange ‘is not the best market strategy’.
The post Binance CEO announces launch of its first Decentralized Exchange Testnet appeared first on AMBCrypto.
Source: AMB Crypto

Ripple partner FairFX lands settlement accounts with Bank of England to participate in UK Faster Payments Scheme

FairFX, an e-banking, and international payments group has announced that it has been granted access to settlement accounts with Bank of England [BoE] and has become a direct partner of UK’s Faster Payments Scheme.
UK’s Faster Payment Scheme aka FPS has been growing rapidly since its inception as its the only real-time 24/7 service that is increasing in demand with respect to business and personal customers. Furthermore, the company’s direct connection to the Faster Payments Scheme has been enabled by the New Access Model that extended access to the RTGS accounts held at the Bank of England.
FariFX’s CEO, Ian Strafford-Taylor said,
“Obtaining direct membership of the Faster Payments Scheme together with settlement accounts at the Bank of England represents a major step in the progression of FairFX Group.
This development is in line with the Group’s strategy to streamline the payment supply chain, deliver lower payment processing costs, improve customer experience and facilitate product iteration.”
The efforts of the FPS is to inject more competition that will help stir growth in the payments sector, which has been overdue for a change for a very long time.
Moreover, FairFX can now directly settle payments with other members of FPS, and it is eligible to join other payment schemes in the UK like BACS, CHAPS. In 2018 alone, FairFX has processed more than 1 million FPS transactions, but after the partnership and its inductance into the FPS, it will now be able to process these transactions in real-time.
Ripple partnered with UK’s FairFX back in mid-2018, along with four other companies from around the world [RationalFX, Exchange4Free, UniPAY, and MoneyMatch]. These companies would be using Ripple’s blockchain payment solution, xVia.
xVia is an API solution enabling payment originators – those sending payments on behalf of a customer, but not actually processing and paying it out – to access and reap the benefits of RippleNet. This includes faster entry into new markets, lower operational costs, increased speed and end-to-end visibility over a payment’s journey.
The post Ripple partner FairFX lands settlement accounts with Bank of England to participate in UK Faster Payments Scheme appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] Price Analysis: Market correction pushes coin below Cardano [ADA]

Market correction has hit Bitcoin SV [BSV] quite hard after the coin added $150 million to its market cap over the past few days. The coin now finds itself as the biggest loser among the major coins. Bitcoin SV’s bearish return has allowed Cardano [ADA] to go ahead and take the eleventh spot on the global coin ladder, despite its own fall.
Bitcoin SV is now falling by almost 4 percent against the US dollar and is trading at $66.39. The market cap of the coin stands at $1.17 billion, down from a high of $2.29 billion less than 15 hours ago. The coin is now trailing Cardano by less than $20 million.
In terms of exchange dominance, Bit-Z holds the most BSV trade volume, accounting for $17.86 million, or 14.08 percent, via the trading pair BCHSV/BTC. It is followed by BitForex and IDCM, holding $10.92 million or 8.61 percent and $10.49 million or 8.27 percent in the trading pairs, BSV/USDT and BCHSV/USDT, respectively.
1-hour
Source: Trading View
After three successive uptrends, Bitcoin SV has been pegged down with a decline that began at $70.32 and still persists at press time. The most significant uptrend stretched from $63.19 to $71.31.
Bitcoin SV’s immediate support was found and recorded prior to the market correction at $62.83. The coin faces an immediate resistance at $71.29.
The Bollinger Bands suggest increasing volatility due to the rapid price decline, while the Moving Average line shows that the coin is under a bearish spell.
The Relative Strength Index indicates that investor interest in the coin is declining, with the RSI dropping from $78.04 to its current valuation of $41.14.
The Awesome Oscillator shows that the coin is trading below 0. Given that the concluding bars are overwhelmingly red, bearish movement is in the offing.
1-day
Source: Trading View
The coin has faced a severe downtrend since mid-December, which has stretched from $112.76 to $66.04. Prior to the same, the coin had gone up from $74.35 to $117.72, giving investors false hope.
Bitcoin SV finds long-term resistance at $69.81, which the coin broke through and fell below during the recent rise. The immediate support level of the coin stands at $61.56.
The Parabolic SAR still shows bullish tendencies for the coin in the one-day chart, as the price has not been shot down considerably.
The Chaikin Money Flow tool shows that the funds pumped into BSV have declined, as the CMF line is below 0.
The Fisher Transform tool shows that the coin is in the middle of a bullish spree, as the Fisher line is over the Trigger line.
Conclusion:
Bitcoin SV was trading with bullish momentum as nearly $10 billion was added to global market cap over the past few days. Following this green wave, the market has begun correcting itself that has affected BSV more than the rest of the market, making it the biggest loser against the US dollar among major coins.
This has allowed Cardano to take over. In the short term, bearish tendencies are very likely, whereas in the long-term the coin is bullish due to the coin’s recent price movements.
The post Bitcoin SV [BSV] Price Analysis: Market correction pushes coin below Cardano [ADA] appeared first on AMBCrypto.
Source: AMB Crypto

Cocos-BCX, Loom Network and Tron trifecta aiming to change the crypto space for the better

The blockchain technology and cryptocurrency space has always been regarded as revolutionary. Due to the numerous benefits it offers, even top industry players are now looking into its use-cases. One of the key sectors blockchain has proved itself to be beneficial is the gaming sector.
In fact, the gaming sector is speculated to be blockchain’s “killer app,” the catalyst for its mass adoption. Presently, the notable players in the space are TRON, Loom Network, and Cocos-BCX. Recently, United Labs of Blockchain Technology based in China did an analysis of the three leading projects in the space.
Loom Network
It is the second layer scaling solution for Ethereum [ETH], the second largest cryptocurrency in the space and the leading smart contract platform. This scaling solution enables DApps with large transaction volumes to scale to millions of users. More so, Loom achieves this without causing major congestion on the Ethereum blockchain.
The primary product of the Loom network is SDK. It enables developers to build blockchains without the need of understanding its mechanisms. The key feature of Loom SDK is the generation of DApp chain, a Layer 2 blockchain that uses Ethereum blockchain as its base layer. It is an application-specific chain that functions parallel to the Ethereum’s main chain. Here, the rule can be customized based on the use-case of the application, whereas the security is entrusted to the mainchain’s consensus algorithm.
Loom Network currently has three sidechains namely,

PlasmaChain
GameChain
SocialChain

PlasmaChain is a revamp of ZombieChain and is considered to be the most important chain among the three. The chain was rebranded as it was going to be the center-point for token transactions that are linked to Ethereum via Plasma Cash. In simple terms, PlasmaChain is a built-in decentralized exchange that acts as a bridge to Ethereum mainchain and other sidechains, thereby enabling faster and cheaper transactions.
Plasma Cash, on the other hand, is the scaling solution proposed by Vitalik Buterin, the creator of Ethereum, and Joseph Poon, the co-creator of Lightning Network. The solution is basically adding a layer of smart contract that interacts with the main chain. This is done in order to decrease the transaction fees associated with smart contract and developer applications.
Features of PlasmaChain

In order to support ETH, ETC20 and ERC71 token transactions, Plasma Chain is linked to the mainnet
Has it own built-in decentralized exchange
Allows payments of fees in Ethereum and Loom token
Will enable BTC payments in the future
Will link Plasma Cash to Layer 3 chains, with PlasmaChain as the main chain

Plasma Chain architecture | Source: Loom Network
Much to users’ delight, Loom network and Cocos-SDK have partnered up with each other in order to integrate Cocos-SDK in Loom DApp development environment. This basically means that the Loom network would be releasing a developer application chain support for the gaming platform.
TRON
Tron is one of the most popular cryptocurrencies in the space, currently the eighth-largest cryptocurrency by market cap. Tron is also one of the largest blockchain-based operating systems around the world, aiming to surpass Ethereum in the next few months. Unlike Ethereum’s Proof-of-Work [PoW] consensus mechanism, Tron chose Delegated Proof-of-Stake [DPoS] consensus mechanism, which supports smart contracts.
The platform strives towards building a “free, global digital content entertainment system with distributed storage technology and allows easy and cost-effective sharing of digital content”. The key features of Tron are high-throughput, high-reliability, and high-scalability, all of which focus on supporting developer applications.
More so, Tron fundamentally has three main layers:

Application Layer
Core Layer
Storage Layer

These layers are further divided into different levels based on their features. Storage Layer comprises of block storage and state storage, Core Layer comprises of Tron Virtual Machine [TVM] and TVM compatibility with Ethereum Virtual Machine [EVM], and Application Layer comprises of DApps and wallets.
Additionally, Tron protocol is well-known because of Protobuf, a protocol that is used to generate code, and which supports multi-language extension. The languages supported on Tron include JAVA, Scala, C++, Python and Go. This enables clients to develop applications in an easier way by unifying the API definitions. It also paves the path for optimized transfer of data.
According to the report, Tron will be collaborating with Cocos-BCX in order to enable cross platform digital asset circulation. The collaboration will ensure the integration of fungible token standard of Tron and CoCos-BCX.
Cocos-BCX
Cocos-BCX is one of the most popular end to end solutions for decentralized game development. The core features of the platform are the game engine, development environment, and its own blockchain. Cocos-BCX, similar to Tron, makes use of Delegated Proof-of-Stake [DPoS] consensus mechanism, thereby ensuring high-throughput, speedy confirmation, community incentive and low resource consumption.
The platform aims to build a “complete run-time environment with multi-game system compatibility,” thereby creating a convenient and perfect ecosystem environment for the development of games on the blockchain. More so, Cocos-BCX also aspires to “bring users new game experience and unprecedented game forms”, wherein users will have complete control over game assets and environment, thereby ensuring fairness and transparency.
Cocos-BCX architecture is divided into four layers,

Application Layer
Runtime Layer
Contract Layer
Blockchain infrastructure Layer

Cocos-BCX architecture | Source: Cocos-BCX
The platform’s Contract VM is noted for using Lua 5.3-based language as it is compatible with most of the library functions and standard Lua syntax. Moreover, the platform will soon provide support for JavaScript as it is the most preferred language by Web game developers.
The key-features of Cocos-BCX are,

Multi-device adaptability and Inter-operable interface
Inter-blockchain exchange converts fungible and non-fungible tokens which have different data structure and standards
Improved DPoS consensus mechanism
Enables execution of smart contracts across blocks
Improved data transmission and high-performance VM solution

The most popular products and protocols of Cocos-BCX are,

Cocos, based on GrapheneTM framework – Max theoretical throughput: 100,000 TPS; tested: 3500 TPS with 3 seconds block intervals
In order to support multiple blockchain systems, Cocos-BCX has its operating system and integrated development environment
It also has distinct protocols for exchange, customization, and universal asset creation

Comparison between Loom Network, Tron, and Cocos-BCX:

System
Feature
Loom Network
Tron
Cocos-BCX

System Layer

Consensus Mechanism

High-throughput support
Each DApp has its own sidechain system, wherein the throughput can be adjusted in accordance to node configuration
Enabled with its DPoS mechanism and lower block generation period
Improved DPoS mechanism and lower block generation period ensure high throughput performance, thereby shortening the redundant computing process in the transaction

High-response support
Latency of transaction response <1s
Latency of transaction response <3s
General transaction response latency <1s. Special latency of transaction <50ms

Business Logic

Randomness support
External source randomness input & Double-blind randomness input
External source randomness input & Double-blind randomness input
External source randomness input, Double-blind randomness input and Internal source randomness input

Transaction atomic merges
Implement atomic operations with combined transactions defined by contract
Implement atomic operations with combined transactions defined by contract
Implement atomic operations with combined transactions defined by contract; combined OPs into one transaction in the form of OP group

Digital Assets

Homogenous Assets

Homogenous Assets Support
Under ERC20
Under TRC10 and ERC20
Under Graphene framework standard

Smart [pegging] Digital Assets Support
Unsupported
Unsupported
Supported

Non-Homogenous Assets

Circulation
On-chain business use; Circulation with Ethereum system
On-chain business use
On-chain business use; On-chain cross-business use without interfering mutual business data; Circulation with Ethereum and EOS networks; Circulation with networks such as TRON, ONT, NEO, etc.

Standard
ERC721x non- homogenous assets standard
Ethereum alike non- homogeneous assets standards
BCX-NHAS-1808 Standard; NVAS-1809 Non- Homogenous Assets Standard

Complex business model support
Unsupported
Unsupported
Support models such as collateralization, lease, pawn etc.

Despite all these features, the report states that there are problems that are inevitable in terms of transaction-level cross-chain docking in blockchain system. Since the security of blockchain is highly dependent on a series of authorization design and complex signature technology, there will be problems with verification, identification, and authorization during the interaction between the main chain and the sidechain.
The report reads, “The interoperability and security become two contradictory issues for the two chain systems. To maintain the existing security mechanism of the blockchain system, it will require various verification modes such as multi-signature, and proposals/voting etc., which will significantly lower the performance [1~3 min/transaction].”
Nonetheless, the three projects are working towards providing the best and the safest platform for developers. In the current scenario, Cocos-BCX seems to be leading the way as it not only provides improved features but is also playing a major role in the adoption of cryptocurrency and the blockchain space.
The platform has formed strategic partnerships with other leading projects in the cryptocurrency space, such as Binance, Nebulas, Loom, Slow mist, HelloEOS, OK Blockchain Capital, and NGC. This indicates that the horizon regarding the cryptocurrency sphere could be on the bright side of development.
The post Cocos-BCX, Loom Network and Tron trifecta aiming to change the crypto space for the better appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes

Bitmain, the mining giant that came close to controlling more than 50% of hash rate responsible for mining Bitcoin is now down in the dumps, as per the latest rumors circulating the depths of the cryptoverse.
A Twitter user @btcking555 tweeted,
“BREAKING: The insider just wechat Bitmain’s latest crypto holdings are 6k in BTC and 750k in BCH. Thats around $130 mln in total value and almost 90 prc down from a year ago !! Also Bitmain had to liquidate some 500k BCH over Q3 and Q4 to cover losses. No wonder BCH has tanked”
To make matters worse, Bitmain lost half a billion dollars in Q3 of 2018. This further substantiates rumors of Bitmain’s demise, especially when compared to the first half of 2018 during which Bitmain had profits worth $1 billion.
Putting two and two together, one can assume that the aforementioned tweet about the sell-off of their crypto-reserves makes sense since Bitmain is in dire need of funds. Moreover, Bitmain’s dream for an IPO under Hong Kong Stock Exchange [HKEx] has not yet materialized as the exchange said that it was reluctant to allow IPO related to cryptocurrencies, owing to its highly volatile market.
@brcking555 further continued,
“Also Jihan is desperate to raise any capital in order not to sell down any more BCH and is pissed about todays leaks to media about massive Q3 losses. His “smoking mirrors” announcement on 7nm chip may not even help him.”
Alister Milne, the CIO of Digital Currency Fund and a Bitcoin enthusiast replied to the above tweet in agreement,
“Looks like they dumped 16k BTC as well … combined, its probably why $6000 broke.”
@eddyspenserwold commented on the same thread,
“March 2018 Bitmain holdings:
BTC 22,082
BCH 1,021,306
Now
BTC 6,000 (liquidated 70%)
BCH 750,000 (liquidated 25%)
Observations:
Bitmain still believes in Bcash.
In Q3-4 2018, Bitmain sold more Bitcoin than Bcash but Bcash tanked more.”
Another prominent person in the cryptocurrency ecosystem, Udi Wertheimer commented,
“I mean, shitcoin twitter isn’t going to like this reply, but if they liquidated ~50% of their holdings in 6 months that’s pretty bullish for BCH from here on out”
People in the community have speculated that the mining giant’s reallocation of hash power during the Bitcoin Cash hard fork combined with the brutal bear market of 2018 has contributed to Bitmain’s current state.
The post Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash [BCH] Price Analysis: Bears sense opening as market correction begins

A green wave swept over the cryptocurrency market as $10 billion was added in less than 24 hours. Leading the charge was EOS and Bitcoin Cash [BCH], with both coins seeing massive double-digit price increases.
Following the rapid rise, BCH has now dipped, posting a 2.65 percent decline against the US dollar, the biggest decrease in the top 10. The coin is now trading at $142.46, while the market cap of the coin stands at $2.51 billion, over $400 million behind Litecoin [LTC].
In terms of exchange dominance, LBank takes the top two spots in BCH trading volume, accounting for $68.86 million, or 12.76 percent, and $32.68 million, or 6.06 percent via the trading pairs BCH/BTC and BCH/USDT respectively. Taking the third spot is Huobi Global, holding $29.85 million or 5.53 percent in the trading pair, BCH/USDT.
1-hour
Source: TradingView
After several days of stabilization, the coin saw a massive uptrend which stretched from $120.06 to $143.65, following which the coin began to stabilize and has now, declined.
Bitcoin Cash finds immediate resistance at $148.74. The immediate support level, placed at $139.57, formed after the price increase, has been broken and has since shifted down to $137.61.
The Parabolic SAR shows that the coin is now trading with bearish momentum as the dotted lines are aligned above the coin’s trend line.
The Fisher Transform line shows that the coin is bearish, as indicated by the Trigger Line’s crossing over the Fisher Line.
The Chaikin Money Flow tool, however, indicates that the money flowing into the coin market is above 0. However, this is likely to dip below.
1-day
Source: Trading View
In the one-day chart, a massive downtrend is witnessed between $624.43 to $82.36, a reminder of the November 2018 hard fork. Following the brief bull run in mid-December, the coin has seen yet another downtrend stretching from $197.02 to $126.55.
Bitcoin Cash finds long-term support at $108.67, which the coin is now well above. The long-term resistance stands at $142.26, which the coin is trading close to, but looks unlikely to break.
The Bollinger Bands are expanding, suggesting that the coin will make way for some degree of price volatility and fluctuation. Further, the Moving Average line shows that the coin is bullish.
The MACD line shows that the coin is vying for entry into the bullish zone since early January, but with no respite.
The Relative Strength Index shows that investor interest has since mildly dipped to 63.79, still close to the ‘overbought’ zone.
Conclusion:
Bitcoin Cash saw a massive price increase on 19 February, even more so than the rest of the market. But, it has failed to sustain the bullish wave, seeing a significant price decline the following day. The short-term indicators point to a bearish market for the coin with the exception of the Chaikin Money Flow which suggests a positive money inflow into BCH. In the long term, the volatility of the coin has increased, as indicated by the Bollinger Band, but the suppression of the bulls continues.
The post Bitcoin Cash [BCH] Price Analysis: Bears sense opening as market correction begins appeared first on AMBCrypto.
Source: AMB Crypto

Elon Musk: Cryptocurrency is the future; paper money will soon fade away

The CEO of Tesla and cryptocurrency enthusiast, Elon Musk, has once again spoken in favor of decentralized currency, stating that a day could come when it will eventually replace paper money.
In a recent episode of ARK Invest’s FYI podcast hosted by Tasha Keeney, “On the Road to Full Autonomy With Elon Musk,” the Tesla CEO spoke about the developments underway at Tesla and about cryptocurrencies, with reference to the future of finance and technology.
When asked about the topic of cryptocurrencies, Musk was taken aback, stating, “Crypto, seriously?” with the interviewer referencing Musk and Twitter’s Jack Dorsey’s recent chatter about the decentralized currency realm.
Musk stated,
“Bitcoin and Ethereum scammers were so rampant on Twitter I decided to join in and I said at one point I want to buy some Bitcoin. Then my account got suspended cause obviously there was obviously like some automatic rule that if you try to sell bitcoin or something and I was just joking.”
In late October, Musk tweeted out, “Wanna buy some Bitcoin?” which sent the cryptocurrency community into a tizzy, many users excited at the prospect of a fruitful collaboration between the Tesla CEO and others such as Binance’s Changpeng Zhao.
Following a campaign by Twitter that deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Musk lauded the website’s efforts and went on to state,
“At this point, I want ETH even if it is a scam”
When asked about Jack Dorsey’s prediction that the internet will soon see a native currency in Bitcoin, Musk replied stating, “That’s interesting.”
He added,
“ I think that the Bitcoin structure was quite brilliant, its seems like there’s some merit to Ethereum as well, and maybe some of the others. But, I’m not sure if it would be a good use of Tesla resources to get into crypto.”
Musk added that one of the main downsides of cryptocurrency is the “energy-intensive” nature of production, referring to the mining process. With reference to the same he said,
“There has to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create an incremental Bitcoin at this point.”
When the topic switched to the nature of Bitcoin transactions, the interviewer stated that cryptocurrencies are not widely used for retail-goods like pizza and coke. To this, Musk replied, “maybe for Coke,” referring to the recreational drug that was sold for Bitcoin on marketplaces like the Silk Road, a smudge that the cryptocurrency world is still reeling from.
Towards the end of the podcast, Keeney referenced the dire financial situation in Africa, where currency restrictions prohibit citizens from converting their currency and forcing them to, at times, go through the US dollar. In light of the same Musk replied,
“It bypasses currency controls. Paper money is going away and crypto is a far better way to transfer value than pieces of paper.”
Despite Musk’s positive stance on cryptocurrencies, his appreciation for the structure of top coins like Bitcoin and Ethereum and his affirmation that eventually decentralized currency will takeover paper money, the Tesla CEO clarified that his company will not start selling Bitcoins anytime soon.
The post Elon Musk: Cryptocurrency is the future; paper money will soon fade away appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC] Price Analysis: Bulls seize the initiative as coin prices surge

Over the week, the fifth largest digital asset on CoinMarketCap, Litecoin [LTC] has maintained its bullish momentum that has translated into a price movement upwards.
During the day, the digital coin slipped to a low of $47.32 before trading across a high of $49.18.
At press time, the silver coin held a market capitalization of $2.95 billion and was priced at $48.50. The valuation for the coin sprung up by 4.46% with a total trading volume of $1.48 billion registered during the past 24 hours.
OKEx has been facilitating high volumes of trading via the trading pairs LTC/BTC and LTC/USDT. The pair LTC/BTC has encompassed a volume of $80 million at a price of $48.31, followed by LTC/USDT with a trading volume of $78.08 million valued at $48.54. Additionally, LTC/BTC has been trending at Coindeal claiming a volume of $74.09 million at a price of $48.33.
1-hour
Source: TradingView
In the hourly chart for LTC, an uptrend from $43.85 to $46.98 and a downtrend from $48.37 to $47.34 has been recorded.
The coin has surpassed resistance levels at many points post-surge and it is to be seen if LTC can break through the new traction of $50.00, rewinding the bullish phase of the previous year. The support marked for the chart is at $47.08.
Parabolic SAR: The dotted lines can be found below the candles, indicating the bull’s contribution to the price momentum of LTC.
Awesome Oscillator: The lines turning green in the AO further suggests a bullish trend for the coin.
Klinger Oscillator: The KO indicator, however, exhibited a bearish trend with the reading line hovering below the signal line.
1-day
Source: TradingView
An uptrend from $32.71 to $43.20 and a downtrend from $55.82 to a low of $32.09 has been registered for the one-day analysis of LTC. The resistance during this time is noted at $51.11 and that of support is at $40.97.
Bollinger Bands: Expanding Bollinger Bands indicate high fluctuation and volatility in the coin’s price.
Chaikin Money Flow: The CMF graph treads above the zero-line, indicating some money flow into the market due to the bulls.
MACD indicator: The MACD line treading above the signal line also predicts a bullish course.
Conclusion
The Parabolic SAR, AO, CMF as well as MACD all project the bulls to hold their course while the KO suggests some bearish activity.
The post Litecoin [LTC] Price Analysis: Bulls seize the initiative as coin prices surge appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA] climbs past a falling Bitcoin SV [BSV] to take the eleventh spot

The present-day volatility of the market is an opportunity for coins such as Cardano [ADA] that are looking to make a comeback. Cardano has now overtaken Satoshi’s Vision, Bitcoin SV [BSV] on the global coin ladder, following the latter’s decline.
At press time, the nChain spearheaded project, Bitcoin SV had declined by 2.92 percent compared to Cardano’s 1.37 percent, a differential that has contributed to Cardano’s new position. The two were overtaken by Binance Coin earlier this month which is riding a massive bullish wave. Cardano has amassed a $19 million market cap lead over Bitcoin SV.
Cardano is currently trading at $0.0457, which is a peg down from its 24-hour high of $0.0480. Previously, the coin was trading fairly consistently just above the $0.04 margin. This is the first time Cardano’s price has passed the $0.046 mark since the beginning of January, when the coin’s volatility had spiked to $0.054, before falling to $0.043.
In terms of market cap, the recent rise saw the coin join the ‘Billion-Dollar Club’ earlier this week, and as the rise persisted, the coin posted its highest market cap for over a month. At the beginning of this past weekend, the coin’s market cap stood at $939.71 billion and rose by a whopping 32.22 percent to reach a high of $1.24 billion on 19 February. Since a market correction that followed, the coin’s market cap has fallen to $1.18 billion.
Source: Trading View
Bitcoin SV, on the other hand, is focusing less on the market and more on verbal brawls between feuding camps, with proponents of the coin lambasting those who support Bitcoin [BTC]. Recently, a pro-BSV editorial came out against Bitcoin Core developer Jimmy Song, following the latter’s criticism of Craig Wright, Calvin Ayre and the apparent lack of developments in the BSV camp.
All this may have affected its market position and the coin has been pegged down by two spots in the past few weeks. First, the coin was kicked out of the top 10 following a remarkable rise by Binance Coin, which has cemented its tenth position on the global coin charts. More recently, following Cardano’s rise, BSV was pushed even lower to the twelfth spot. However, its market cap remains above $1 billion.
On 18 February, the coin was under $1.1 billion and rose up with the collective market to $1.24 billion. After the coin reached the mark, however, a market correction pushed down the coin’s market cap to $1.15 billion while other coins managed to hold their own. Cardano’s resilience compared to BSV’s rapid rise and fall saw the former take Satoshi’s Vision by surprise.
Source: Trading View
The post Cardano [ADA] climbs past a falling Bitcoin SV [BSV] to take the eleventh spot appeared first on AMBCrypto.
Source: AMB Crypto