Day: January 12, 2018

Cryptocurrency enthusiasts will all agree that the year 2017 was rather spectacular. Not only did we see all prices increase in a significant manner, we also saw exchanges struggle to keep up with demand. And just last week, Binance was forced to halt user registrations due to overwhelming success. The company has released some interesting details as to why this decision was made. It certainly makes a lot of sense for the site to upgrade its infrastructure well in advance.

Binance’s User Growth is Mind-Blowing

During the last six months of 2017, we saw a lot of exchanges suffer from an influx of new user registrations. That’s not just because all these users tax sites’ infrastructures themselves, but also because accounts will need to be verified sooner or later. It is evident this strain on resources has thrown a lot of companies for a loop, and Binance has taken the brunt of it. This platform has quickly become the world’s largest cryptocurrency exchange based on trading volume alone. That is rather remarkable, considering that the Hong Kong-based company was relatively unknown until early 2017.

According to Binance CEO Zhao Changpeng, the company recently added 240,000 new users in just one hour. While some people would gladly state that this number is impossible to achieve, it is the information Zhao shared with Bloomberg Television earlier this week. At that rate, the company would see close to 4 million new user registrations on a daily basis. Given the global interest in cryptocurrency, that number may be achievable, although it is unlikely it will become the new normal.

As one would guess, the company was ill-prepared for such spectacular growth in a very short time frame. It is doubtful any cryptocurrency exchange in the world would be able to deal with such a vast amount of new users on a daily basis. Although it is evident the interest in cryptocurrency has never been higher than it is right now, over 200,000 new users per hour is pretty significant. Most smaller exchanges don’t even have 200,000 users in total.

It seems Binance is especially popular among institutional traders who want to get involved in cryptocurrency directly. That is rather interesting, as it seems there would be other exchanges with better reputations which could fit the bill as well. Then again, Binance has the most trading volume in the world right now, even though the company has halted user registrations for the time being.

It remains unclear when Binance will accept new user registrations. With the site’s traffic already hitting alarming heights, it is evident its infrastructure will need some big upgrades in the future. The company is making improvements as we speak, but there is no official ETA as to when services will be reopened to the general public.

Binance’s main front-end infrastructure resides on Amazon Web Services, and the company has hit the maximum number of servers that it can purchase from Amazon. All of this goes to show we need some form of decentralized technology to keep things moving along. Right now, no such service exists, although some projects are currently in development as we speak. Looking for other cloud computing services is not necessarily a valid option for Binance, as AWS is the biggest player in this market right now.  

Latest crypto PR stunt: KFC Canada introduces the “Bitcoin Bucket” you can only buy with BTC #NEWS

Crypto exchange Binance, continues to see explosive growth, adding as many as 240K users in a single hour despite market lows this week #NEWS

BTC/USD

Bitcoin bounce from a trend line during the trading session on Friday, as well as the $13,000 level. Because of this, looks like we may get a little bit of bullish pressure, but quite frankly, it’s not until we break above the $15,000 level that I feel comfortable buying. This could end up being an opportunity to sell for another attempt at the uptrend line, but I suspect we are going to see volatility more than anything else. Monday as Martin Luther King Jr.’s birthday in America, so expect quiet trading.

BTC/JPY

Bitcoin has continued to drift lower over the last couple of sessions, and that looks likely to be the running theme. I think the market is going to go down to the ¥1.5 million level over the next several sessions, where it should find plenty of buyers. The volume is reasonably quiet, so I think this is a simple continuation of the overall consolidated move.

Thanks for watching, I’ll be back tomorrow.

The post Bitcoin Analysis January 15, 2018 appeared first on NewsBTC.

Bitcoin companies are always looking to expand their presence. This is especially true for mining hardware manufacturers. Bitmain is the number one company in this particular industry right now. They recently announced a plan to set up shop in Zug, the Crypto Valley capital. An interesting decision by the Chinese company. It is evident this little part of Switzerland has attracted a lot of attention in quick succession. It may even become the European hub of all cryptocurrency activity.

Crypto Valley has quickly become a phenomenon in the cryptocurrency world. This minor part of Switzerland is very open-minded to blockchain and digital currencies. It’s also possible to pay for some public services using Bitcoin. Furthermore, the local “government” introduces a code of conduct for ICO projects not too long ago. The positive momentum just keeps trucking along in the Crypto Valley. Especially now that Bitmain has decided to open a branch in Zug as well.

Crypto Valley Welcomes Bitmain

For the Chinese manufacturer, this is not their first overseas expansion. The company has offices in various countries around the world as we speak. Adding Switzerland to this list simply makes sense at this point. More specifically, the global expansion for Bitmain means gaining a foothold in Europe as well. Right now, Crypto Valley in Switzerland is the place to be for anything cryptocurrency-related. In the long run, this new hub will allow the mining hardware manufacturer to provide better services to their customers.

Bitmain is confident their Swiss branch will play a critical role in the company’s ongoing global expansion. Although the manufacturing of devices will remain in Chinese hands, a European office helps move things along rather nicely. Zug is one of the regions with “good legal stability and friendly regulation”, according to the company. So far, Crypto Valley has made a lasting impression on the cryptocurrency industry. Whether or not other European regions will follow this example in the future, remains to be determined.

The current plan of action involves Bitmain offer a higher employment rate throughout Crypto Valley. Additionally, they want to actively communicate with self-regulatory organizations and Finma as well. For now, it remains a bit unclear what types of services the manufacturer will provide in Switzerland. Many people tend to forget they also have various software products which can be of great interest. An exciting future lies ahead for Crypto Valley and Bitmain.

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Sirin says its Finney phone will fill a gap in the crypto market. But as the adage goes, “hardware is hard,” and in blockchain it may be even harder.

Most cryptocurrency enthusiasts were surprised to see Stellar in the cryptocurrency top 10 ranked by market cap at the end of 2017. A lot of people ignore currencies which won’t net them quick profits or don’t serve their specific cause. Even so, the Stellar price has successfully surpassed $0.50 last year. Fast forward to today, and the Stellar price surpassed $0.65 again. An interesting bounce back after a very difficult week.

Stellar Price Seems to Follow XRP’s Momentum

If there are two digital assets unlike any cryptocurrency existence today, it has to be XRP and XLM. The latter is also known as Stellar Lumens, another asset designed to transform the financial sector into a more modern version. Cryptocurrency speculators have kept a close eye on the Stellar price ever since the value hit $0.10. Over the past few weeks, that value has risen gradually, despite some major market opposition due to Bitcoin’s struggles.

At its peak, the Stellar price went as high as $0.91. Quite a steep value for an asset which was worth less than $0.20 in early December of 2017. The entire ecosystem has seen multiple currencies and assets explode in value over the past few months. Unfortunately, the Stellar price also hinges son how Bitcoin evolves in the price department. Given the world’s leading cryptocurrency’s struggles, it is not surprising to see Stellar drop to $0.44 earlier this week.

Ever since that time, we have seen the Stellar price mount a somewhat strong comeback. Although it has been a bumpy ride these past few days, we now have a Stellar price of $0.65 once again. It is still too early to speak of reaching a new all-time high in the near future, but anything is possible at this stage. It is uncanny how both the Stellar price and XRP price tend to go up at the same time, even though they are two separate projects which share a similar goal.

With just $439.82m in 24-hour trading volume, things are not looking overly impressive for Stellar right now. In fact, this digital asset has noted a volume of over $1bn per day not that long ago. Then again, the cryptocurrency and digital asset markets are still reeling, as a lot of damage has been caused by the media spreading fake information regarding South Korean exchanges. For now, things are slowly heading back in the right direction, but we are not out of the woods just yet.

Binance is the leading trading platform for Stellar volume as of right now. They are nearly $30m ahead of Bittrex, and $54m ahead of Poloniex. It is evident there is no fiat currency market for Stellar in the entire top five right now. The first platform which fiat currency support is Bitcoin Indonesia in sixth place. Considering how Kraken is still down for maintenance, it is only normal Bitcoin becomes Stellar’s main trading pair for now.

Stellar price speculation serves no real purpose with the market sin their current state. All of the gains noted overnight can easily be wiped out in an hour or two. We can only hope to cryptocurrency and digital asset market is finally returning to normal and things stay stable for longer than a few hours. If that is the case, the Stellar price may very well hit $0.75 before the week is over. For now, trading with caution is the best advice anyone can give you.

The benefits of Blockchain and tokenization is finding expression in new ways as the adoption of the emerging technology continues to encroach into new spheres, disrupting existing systems and providing more efficient ways of solving existing problems.

A fundamental market determinant

App purchasing is a market that is growing significantly, especially due to its synchronized relationship with mobile technology. The Google Play Store and Apple Store are currently playing significant roles as the biggest intermediaries between developers and app consumers by providing the platform for interaction and transaction. Despite how much and for how long the public has relied on these services, there are real setbacks that have hindered the industry from operating at full potential both in terms of revenue generation and service delivery.

One key determinant of the efficient flow of services in any given marketplace is the efficiency of its transaction and payment system. A payment system that is secure, free of risks of chargeback, fraud and excess fees will always be preferred ahead of payments that do not exhibit very high levels of reliability. This is one key factor why Blockchain implementation is growing at a very fast rate within the financial and payment systems industry across the globe.

Relief for developers

Considering the above-mentioned factors, the current centralized app purchasing systems is known for its extended processes where app developers receive their payments through stores, which implies that the user pays to the stores first. But by implementing Blockchain decentralized technology, AppCoin token which is the AppCoins platform underlying cryptocurrency will enable a payment procedure where an app user will pay directly to the developer. The token is Ethereum based and its application is supported by Ethereum Smart Contract.

• This system of in-app purchases through Blockchain using the AppCoins protocol will also enable developers to receive payments in real-time directly from the user because the smart contract implements the revenue share between the developer and the store. No exchange rates and fees, everything in real-time and in the same currency.
• The developer will not need to trust in the store because it is the smart contract in the Blockchain that guarantees the transfer. The smart contract is open source and can be audited.
• By the Blockchain being public and standardized, it means that the developer has to integrate the protocol API only once and it will work with all App Stores that follow the protocol. The protocol has already been adopted by Aptoide (the largest independent App Store with 200 mln users) and will be adopted soon by others.
• Overall, as result of using the Blockchain, the revenue share can be much better for the developer: instead of 70 percent of Google Play or Apple App Store, the developer receives 85 percent with Blockchain based AppCoins protocol.

Users also benefit

Tokenization is a powerful process that is changing the online transaction ecosystem and ensuring extended liquidity, security and also enabling the decentralization of services within marketplaces. This system will not only be of benefit to developers but also users who will be relieved from paying avoidable fees and transaction charges, and also reserve the guarantee of secure and original downloads directly from developers themselves.

The post Blockchain Payment System That Benefits Both Developers and Users in Apps Marketplace appeared first on NewsBTC.

Bitcoin is back around $14,000 and could be in for a phase of rangebound trading as the markets come to terms with regulatory noises from South Korea.

Find out everything you need to know about BitcoinTalk for ICO – a complete guide to the oldest message board dedicated to Blockchain and crypto. #HOW TO CRYPTO