Day: May 29, 2018

Block.one, the developer of EOS and main competition to the Ethereum network, will finish its year-long coin offering tomorrow having raised $4 billion in investor funds.

EOS Token Sales Brought in $4 Billion

Based in the Cayman islands and headed by 31-year-old Hong Kong-based CEO Brendan Blumer, Block.one is on track to dwarf all other ICOs ever launched. They will more than double the $1.7 billion that Tron took in earlier this year which had doubled the previous largest ICO. Block.one raised the money by auctioning off 2 million of their EOS tokens every 23 hours at an accepted high bid, totaling 900 million tokens sold since the auctions began on June 26, 2017.

Despite worldwide regulation issues, ICOs continue to draw massive amounts of investor money since the meteoric rise of the cryptocurrency market in 2017. So far in 2018 ICO’s represent 7.15 billion USD invested not including the Block.one total according to The Wall Street Journal. What buyers of the EOS tokens don’t know yet is how Block.one plans to use this massive influx of funds.

The company plans to launch their platform for hosting decentralized web applications in June but will leave their software open source for developers to build out the platform via upgrades to the public chain and decentralized applications (dApps). Block.one has already invested millions of dollars into joint ventures with Finlab AG and other private blockchain investors to help accelerate the development of the EOSIO ecosystem. Additionally, the company has pledged to invest more than $1 billion in startups building on EOS.

As for the remaining $3 billion the company hasn’t made any public announcement though they are expanding. Its website is currently advertising for eight new engineers and they have recently hired former Bank of New York Mellon lawyer Lee Schneider as general counsel, and a new chief financial officer, Rob Jesudason, who was CFO of Commonwealth Bank of Australia.

Dafeng Guo, a 30-year Hong Kong citizen living in Shanghai and founder of EOS Asia, a private group that plans to develop and hopes to profit from the EOS blockchain told the WSJ;

“I believe the (block.one) team has the technical capability of carrying this project out,” Guo talked about how he was impressed with the companies plans to become a mainstream platform before adding “I believe in EOS,”

Major Security Flaw Discovered

Just days before it’s planned mainnet launch on June 2 a security flaw that could leave private data on the EOS network vulnerable through a “super node” attack was discovered which caused the price of EOS to drop by 7% in less than an hour though it has recovered and is currently trading at $12.40 according to livecoinwatch.com.

 

Image from Shutterstock

The post Block.one Takes ICO Record with $4 Billion in EOS Sales appeared first on NewsBTC.

General Bytes has installed 10 new Bitcoin ATMs across the subway routes in Prague, Czech Republic. At the ATMs, customers will also be able to buy and sell Litecoin, Dash, and Monero for fiat. The installation of these new ATMs brings General Byte’s global cryptocurrency ATM total to 867, 27.6% of the 3,138 cryptocurrency ATMs worldwide.

Bitcoin is the original cryptocurrency and continues to be #1 with a market cap of USD 128 billion; Bitcoin uses the SHA-256 algorithm. Litecoin uses the Scrypt algorithm and is ranked #6 with a market cap of USD 7 billion. Dash uses the X11 algorithm and is ranked #12 with a market cap of USD 2.5 billion USD. Monero uses the CryptoNight protocol and is extremely anonymous with transaction histories that are near-impossible to trace, and is ranked just behind Dash at #13 with a market cap of USD 2.5 billion.

Thus, the General Byte ATMs across Prague provide customers with a spectrum of the most successful cryptocurrency protocols. The ATMs are installed at Můstek, Nádraží Veleslavín, Dejvická, Florenc, Černý Most, Zličín, Pankrác, Flora, Skalka and Hlavní Nádraží. This provides thorough coverage to the entire Prague subway system.

There are now 46 cryptocurrency ATMs installed across the Czech Republic, with 27 of them being in Prague. Most of these ATMs are manufactured by General Bytes, since the company is based in the Czech Republic.

The Czech Republic so far has been very friendly towards cryptocurrency, not defining it as a currency or a commodity and therefore the government hasn’t regulated it. In the past week, the Czech Republic’s largest natural gas company has begun accepting Bitcoin from customers, and the country’s largest e-commerce site has sold tens of millions of USD of products via Bitcoin.

The installation of the 10 new cryptocurrency ATMs in Prague will help facilitate cryptocurrency becoming a true currency across the Czech Republic’s capital, where 1.3 million people reside. Now people in Prague will be able to rapidly move money between fiat and cryptocurrency just by going to the subway, making it easy for anyone paid with cryptocurrency in the city to convert their paychecks to cash, and anyone that needs to buy products online can easily convert their cash to cryptocurrency.

This news is another positive sign that Bitcoin and cryptocurrency, in general, is becoming a widely used and practical global currency.

 

Image source: Flickr – Lauri Rantala

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The blockchain space is witnessing rapid technological developments in the recent times. Applications built on cryptocurrency’s underlying ledger is being integrated into various segments including the social space. Following the advent of CryptoKitties, a series of blockchain based products have sprung up, promising to ignite the same kind of passion in the gaming sector. Ply Monkey and Lucky Cats have proved that the combination of games and blockchain technology brings up new opportunities the entire gaming industry should exploit.

With encryption algorithms, the consensus mechanism and distributed feature, blockchain technology creates a new avenue for gaming rules and unparalleled gamer experiences, which makes the games unexpectedly popular among players and shows the enormous potential of such games.

CryptoKitties was just the beginning. With constant upgrades to the technology, the gaming industry is entering a new era. The rapid development of computer technology, both in software and hardware, is a clear indication of the changing times, which is further ratified by the success of CryptoKitties. kicked off the new era of blockchain based games.

However, CryptoKitties faced transaction problems on the Ethereum blockchain. Too many people were making transactions at once and thus the Ethereum blockchain jammed. CryptoKitties was not built to handle the stress of large number of players. Games are becoming more and more demanding for convenience and real-time of big-sized data interaction. Recognizing this, DGames, short for Decentralized Autonomous Organization Games, is working on building a blockchain based gaming ecosystem, by setting up a new model for game development and operation.

Support of More Complex Game Titles in Terms of Performance.

The new system proposed by DGames will be revolutionary. The system will include a server framework for DAO games, a productive and dedicated sub blockchain, a distributed encryption code transfer protocol, and a smart contract editor.

By achieving this level of development, the platform will enhance the game performance while reducing the difficulty levels faced during the blockchain game development. It will, in turn, encourage the game creators to create more blockchain games with increased difficulty levels for a broad consumer base. It is speculated that in the coming years, there will be a mass exodus of gamers from conventional games to their blockchain counterparts.

At this point, the world will have a brand-new distribution model specifically designed for gaming, a new gameplay, and an entire gaming ecosystem.

For the past 30 years, the gaming industry has thrived following the appearance of console games to internet games, then the mobile games. The graphics of today’s games are getting more and more exquisite. The special effects are much cooler than in previous years, and game sizes have grown significantly as revenue from gaming sales have skyrocketed.

Focusing on the Overall Playability and Enjoyment.

However, the gaming essence has been on a decline. As an essential part of the evolution in the gaming sector, it is the consequence of commercialization and centralization, which doesn’t provide the best experience and feeling to the players.  For this reason, independent games coming into the limelight in recent years has come as a surprise to players. Many independent games are developed and operated by small teams of developers, two or more developers in some cases, focusing on the overall playability and enjoyment of the end users.

The problem is that these games tend to have minimal lucrative potential against traditional internet games. Even the vast number of players can’t bring the desired profits to the development team, and in the long run, this inability becomes detrimental to the future of the game.

While blockchain technology has been widely advertised as the best solution to these solutions in several gaming publications, the industrial blockchain of the traditional gaming industry is not friendly to the most important content provider of the entire blockchain, the developers. The current model provides various profit approaches including paid download, prepaid game cards, and item purchases. DGames will build a truly free game model that create an environment that makes both players and developers interact in a truly exceptional game ecosystem.

Make the Gaming Experience Particularly Special.

Any individual, workshop, and enterprise can apply for DGames via a distributed game autonomous entry mechanism, to make and publish blockchain games. Players obtain the main blockchain’s tokens through the PoA confirmation scheme. The DGames public blockchain provides not only main blockchain and sub-blockchains but also multiple public blockchain services, including in-game auction house, interactive hall, and many other services, to build a new ecosystem for the gaming industry.

DGames also supplies a separate sub-blockchain to game developers which can be used to decide how to issue their own tokens, write smart contracts and even submit their smart contracts to a library for use by other developers.

Overall, the DGames platform is designed to create an entertaining ecosystem for gamers as well as game developers, in a truly decentralized fashion. This platform can potentially open endless opportunities to everyone involved, thus reshaping the gaming industry as a whole.

Learn more about DGames at – http://www.dgames.org/

The post DGames: Experience Fantastic Games You’ve Never Imagined appeared first on NewsBTC.

Key Highlights

• Ripple price jumped from the $0.5500 support zone and moved above $0.6000 against the US dollar.
• This week’s highlighted important bearish trend line with resistance at $0.6000 was breached on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair is now placed nicely above the $0.6000 level and it could accelerate gains in the near term.

Ripple price started a nice upside move against the US Dollar and Bitcoin. XRP/USD is now back above $0.6000 and is currently trading with a bullish bias.

Ripple Price Trend

It seems like there was a strong buying interest around $0.5500 in Ripple price against the US Dollar. The price started a solid upside move from the $0.5460 low and moved above the $0.5800 resistance level. There was also a break above the 50% Fib retracement level of the last drop from the $0.6105 high to $0.5460 low. It opened the doors for more gains and the price broke a key resistance at $0.6000.

More importantly, this week’s highlighted important bearish trend line with resistance at $0.6000 was breached on the hourly chart of the XRP/USD pair. The pair settled above $0.6000 and the 100 hourly simple moving average. It traded as high as $0.6265 and is currently trading nicely above $0.6100. If the current bias remains intact, there could be an upside move was above the $0.6250 level in the near term. The next key resistance for buyers is near the $0.6500 level.

Looking at the chart, if the price corrects lower, the 23.6% Fib retracement level of the last wave from the $0.5460 low to $0.6265 high may act as a support. However, the most important support is now at $0.6000 and the 100 hourly SMA.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 60 level.

Major Support Level – $0.6000

Major Resistance Level – $0.6250

The post Ripple Price Analysis: XRP/USD Back Above $0.60 appeared first on NewsBTC.

On 13 June, the United States Securities and Exchange Commission (SEC) will host an Investor Conference in Atlanta, where the securities classification of tokens and initial coin offerings (ICOs) is among topics expected to be discussed.

The event at Georgia State University, Atlanta will have all five SEC commissioners in attendance. After a town hall event, attendants can meet members of the SEC for further discussions with regards to regulation, fintech, mutual funds, fraud prevention and cryptocurrencies, the latter of which is likely to be a hot topic.

Inviting crypto discussions

The official SEC webpage for the event reads: “Meet the people who help make Wall Street work for Main Street. All five SEC Commissioners are coming to Atlanta to meet with you: young people, the military, urban and rural, those saving for retirement, and seniors—the diverse, the dynamic people of the southeast region.”

Chairman of the SEC, Jay Clayton, will the most relevant name on the ticket for those who are concerned with his evaluation that ICO tokens could be classified as “securities” and was “unhappy” with how ICO operations were conducted.

While not believing every “ICO is a scam“, Clayton does, however, believe that these tokens should be treated as securities as opposed to utilities. The cryptocurrency community thinks that should that classification be passed into legislation, the results would be catastrophic for the market as it will impose strict tax regulations as well as determine who could legally own and invest in cryptocurrencies.

However, it appears as though Clayton has good intentions for the industry considering he made comments questioning what would happen if the crowdfunding method for the nascent technology continued to have illegal and illicit activities tied to it.

Classification confusion

He believes that should fraudulent activities continue, regulations will be so strict that they would stifle the “capacity of this new security”.

Clayton has firm beliefs in regulations being paramount to the future successes of the industry; in June 2017, the SEC classified ICO tokens as “investment contracts” which technically made them securities based on the Howey Test. Ethereum co-founder Joseph Lubin is of the “extremely comfortable” persuasion that they are not securities.

Both the Federal Trade Commission (FTC) and SEC have been working to educate consumers and investors on the risks involved with ICOs; the FTC held a ‘Decrypting Cryptocurrency Scams’ workshop and the SEC also released an educational website to demonstrate what a scam/hoax token offering looked like.

While there is significant confusion in the United States on how to determine what an ICO token is, the discussions occurring in June will be revealing of the direction that the SEC and FTC will take.

 

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The post SEC Investors Conference to Open Crypto, ICO Discussions appeared first on BitcoinNews.com.

Chinese President Xi Jinping acknowledged the potential of blockchain in a speech this week, endorsing the nascent tech for the first time.

Key Highlights

• ETH price started a solid upside move and traded above the $555 barrier against the US Dollar.
• Yesterday’s highlighted major bearish trend line with resistance at $538 was breached on the hourly chart of ETH/USD (data feed via Kraken).
• The pair is now placed nicely above $555 and the 100 hourly simple moving average, which is a positive sign.

Ethereum price is showing positive signs against the US Dollar and Bitcoin. ETH/USD could trade further higher if it stays above the $555 support zone.

Ethereum Price Support

There was a strong buying interest above the $500 handle in ETH price against the US Dollar. It resulted in a sharp upside move and the price traded up by more than $50. The price broke a couple of key resistances such as $520 and $535. More importantly, there was a break above a crucial pivot level at $555. It indicates that the price managed to move back in a positive zone above $550.

Additionally, yesterday’s highlighted major bearish trend line with resistance at $538 was breached on the hourly chart of ETH/USD. The pair is currently trading well above the 50% Fib retracement level of the last decline from the $607 high to $505 low. It seems like the price may continue to move up towards the $580 and $590 levels in the near term. A break above the 76.4% Fib retracement level of the last decline from the $607 high to $505 low is needed for an upside acceleration. Above $590, the price could make an attempt to surpass the $600-607 resistance zone.

Looking at the chart, the price remains well supported on the downside above the $555 level. If the price moves down, the 100 hourly SMA and the stated $555 support area likely to act as a strong zones.

Hourly MACD – The MACD is back in the bullish zone.

Hourly RSI – The RSI is moving into the overbought levels above 65.

Major Support Level – $555

Major Resistance Level – $590

The post Ethereum Price Analysis: ETH/USD Surging Higher appeared first on NewsBTC.

FOMO Moments

A rally was expected after crypto markets hit a monthly low yesterday. Traders loaded up and bought the dip and all currencies have bounced back today, however the overall sentiment is still bearish. Bitcoin held support and did not fall below $7,000, it is currently up 5.3% on the day at just over $7,500. Ethereum, after suffering heavy losses, has returned to around $570, up almost 8.5% and altcoins are all in the green. There are several coins in the top 25 posting double digit gains at the moment but Bytecoin is leading them all.

Coinmarketcap is currently reporting a 30% jump for BCN which is trading at $0.0067, up from $0.0051 this time yesterday. Over the past seven days all altcoins have lost out and Bytecoin is no exception falling 14% since last Wednesday. This altcoin pumped and dumped on May 8 when Binance listed it and it reached an all-time high of $0.018, since then it has been in decline. Trading against Bitcoin BCN is up 21% on the day to 90 satoshis from 72 sats this time yesterday. Over the week it has lost 9% on BTC falling from 98 satoshis this time last week.

It seems that traders have been loading up on low priced coins as Cardano and Stellar are also recovering quite strongly. No specific announcements have been made and the team has just encouraged crypto traders to buy BCN while it is low:

The market might still be down across the board today but that kind of negativity can’t last forever! What goes down must come up! Go to #Binance, #HitBTC, #Poloniex, etc to pick up #Bytecoin at amazing prices! Invest now, save later! Happy trading everybody! #BCN #cryptocurrency

— Bytecoin BCN (@Bytecoin_BCN) May 29, 2018

Bytecoin volume has surged in the past 24 hours jumping from around $15 million to over $54 million; this has boosted recovering of this newcomer to the top 25.

Currently Binance has the largest share of BCN trade with almost 80%, followed by HitBTC. Bytecoin has crept into the top 20 now with a market cap of $1.2 billion. Almost all of the 184 billion tokens are in circulation and that big volume spike could see prices go higher, up to the 100 satoshi level.

Total crypto market capitalization hit a monthly low of $303 billion yesterday. A bounce back has been expected but it remains to be seen whether upwards momentum can hold. Markets have regained 8.5% over the past 24 hours and are currently at the $330 billion level. All altcoins are recovering during this morning’s Asian trading session, those leading the way with double figure gains include Ripple, Bitcoin Cash, Cardano, Stellar Lumens, Iota, VeChain, OmiseGO, Icon, Zcash and Zilliqa.

More on Bytecoin can be found here: https://bytecoin.org/

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

The post Asian Cryptocurrency Trading Update: Bytecoin up 30%, Leading Recovery appeared first on NewsBTC.

Key Points

• Bitcoin cash price jumped higher and broke a key resistance at $950 against the US Dollar.
• There was a break above a major bearish trend line with resistance at $960 on the hourly chart of the BCH/USD pair (data feed from Kraken).
• The pair may correct a few points in the short term, but downsides remain supported above $950.

Bitcoin cash price is back in a bullish zone above $950 against the US Dollar. BCH/USD has to gather pace above $1,040 for more gains in the near term.

Bitcoin Cash Price Trend

There was a decent support formed around the $870 level in bitcoin cash price against the US Dollar. The price started a solid upside move and traded above the $900 resistance level. It opened the doors for more gains and the price broke the 50% Fib retracement level of the last decline from the $1,010 high to $870 low. During the upside move, the price also managed to clear a major barrier near $950.

A break above the stated $950 resistance is a positive sign for buyers. More importantly, there was a break above a major bearish trend line with resistance at $960 on the hourly chart of the BCH/USD pair. The pair is now placed nicely above the $960 level and the 100 hourly simple moving average. The recent high was around $1,030 and the price is currently consolidating gains. On the downside, an initial support is near the 23.6% Fib retracement level of the last wave from the $970 low to $1,030 high.

Looking at the chart, the previous resistance near $950 is likely to act as a strong support. Moreover, the 50% Fib retracement level of the last wave from the $970 low to $1,030 high is near $950 to provide support.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is now back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the 65 level.

Major Support Level – $950

Major Resistance Level – $1,040

The post Bitcoin Cash Price Analysis: BCH/USD Broke Key Resistance appeared first on NewsBTC.

It’s getting really strange out there on crypto Twitter.

Bitcoin Price Key Highlights

• Bitcoin price appears to be finding support at the bottom of its symmetrical triangle.
• If it keeps holding as a floor, price could head back to the resistance around $9,000.
• Oscillators are suggesting that a return in bullish momentum is in order.

Bitcoin price is finding support at the bottom of its symmetrical triangle while oscillators indicate oversold conditions.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside, which suggests that a break below support is still possible.

Price is also trading below the 100 SMA so this moving average could hold as near-term resistance in a bigger bounce. The gap between the moving averages is sufficiently wide so there is no imminent threat of a bullish crossover.

However, RSI is pulling up from oversold levels to signal that buyers are getting back on their feet. Similarly stochastic is moving out of the oversold region to signal a return in buying pressure. A bullish divergence can also be observed for this oscillator as stochastic made lower lows since April while bitcoin price made higher lows.

Market Factors

Even though cryptocurrencies have been hit by risk-off flows recently, it looks like fears of rising anti-EU sentiment are driving up demand for bitcoin again. This has been particularly evident during previous referendums wherein euro zone nations threatened to leave the bloc.

Italy is said to be headed for another round of polls as the coalition government leaders are unable to draw enough support. Some say that the elections could be a proxy for a referendum vote, possibly even spurring anti-EU sentiment in other countries like Spain and Portugal.

The polls aren’t likely to happen until late July or even September, which means continued political uncertainty in the region and a chance for anti-EU parties to gain more traction.

The post Bitcoin (BTC) Price Watch: Fresh Hopes for the Bulls! appeared first on NewsBTC.

A topic that seems to dominate the Bitcoin media are the vast amounts of energy consumed and the corresponding high carbon emissions. Some disturbing headlines could be read during the last couple of months:

“Bitcoin mining consumes more electricity a year than Ireland” (theguardian)

“Bitcoin Is Massively Polluting the Earth – And We Should All Be Scared”
(globalcitizen)

Some of the numbers stated in these articles were vastly exaggerated, and some of the headlines are just plain FUD. Yet, a kernel of truth remains.

The electricity used to power the Bitcoin network is produced mainly by fossil fuels. Mostly by coal. To be exact, the world wide energy mix consists of 87% fossil fuels. When one network presumably consumes north of 70 TWh this year, that means a lot of pollution. This is equivalent to 168 trillion miles driven with a gasoline fueled car. Digiconomist’s Alex de Vries just analyzed one bitcoin mine in China whose carbon footprint is “simply shocking,” emitting carbon dioxide at the same rate as a Boeing 747.One could read during the month that an Australian company has signed a deal to provide energy to a cryptocurrency miner by reopening a coal power plant.

bitcoinClean is here to change this!
bitcoinClean, a bitcoin hardfork,  is the first coin mined only with renewable energy. It relies on a network that is powered by Solar, Wind, Hydro, Thermal, Biogas or Tidal energy. Every node must undergo a peer review to participate in the network.
The Bitcoin hardfork was successfully conducted on Tuesday, April 18th, 2018, 5:26:13 PM (UTC), Block #518.800.

“How does this idea work?” Well, here is the explanation.
bitcoinClean introduces an algorithm called proof-of-greenness. PoG works like this: If Bob wants to mine bitcoinClean he has to convince other miners that he uses only renewable energy. So Bob publishes some documents and photos about his setup, and a utility bill from his green-energy provider.
Alice, John and Mark see that, and upvote his proof. At about 3–5 upvotes Bob can start mining. How many upvotes Bob needs depends on the Impact Alice, John and Mark have. Impact is another aspect of the proof of greenness algorithm.
As a miner gains impact his vote on other miners gets more weight. Impact starts with literally 0, which means your vote doesn’t count and goes up to 5, meaning your vote counts 5 full votes. (technical detail: the tan(h) function is used here, so 5 can never be fully reached).

bitcoinClean wants people to talk to each other. It requires miners to look at the way other miners operate, and then make an educated decision if they trust this miner to use renewable energy. bitcoinClean has no moderation. No central authority. Only its miners govern what standards they deem acceptable. The Impact score each address has incentivises miners to make good decision about each other, because if a miners vote get rebutted too often, his impact goes back to 0, and his votes stop counting.

bitcoinClean will help cryptocurrencies to become drivers for clean energy use and innovation. The next step in financial independence cannot come at a huge environmental cost — this is simply unacceptable.

bitcoinClean exchanges and and supporters:

bitcoinClean is already trading on YoBit.net, on Nebula end of June and soon on  Exrates.
Supporters like Miguel Forbes (Forbes Magazine) are pushing the project, many green miners are already mining bitcoinClean, such as Coin Factory and HydroMiner, both cutting-edge green mining operations.

Join the community via telegram or visit the bitcoinClean Medium channel, twitter the bitcoinClean fund and the website for more information.

bitcoinClean’s source code can be found and contributed to at GitHub.

We want to make bitcoinClean the currency of the future for everyone who cares.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Ethbay is the newly launched blockchain based platform that aims to disrupt the traditional online marketplaces using the power of decentralization. It is an online marketplace much like eBay that allows users to buy or sell tangible and non-tangible products using Ethereum charging only a 1% fee, which is significantly lower than fees charged by eBay and other such marketplaces. Ethbay is all set to launch their official ICO on June 7th and offer their EBY tokens at a price of 5000 tokens for 1 Ethereum. Out of 100 million EBY tokens that will be produced, 80% will be available for sale to the general public.

Unlike the other players in the online marketplace industry, Ethbay does not charge any listing fees from the sellers on the platform, allowing them to post free listings. Being based on blockchain technology and Ethereum smart contract means, Ethbay offers complete safety and security to both the parties during transactions using an ultra-secure Ethereum smart contract escrow to protect transactions. Additionally, it is one of its kind truly anonymous online marketplace which does not require the user to enter any personal information for registration. Registered users can also use an encrypted messaging system to interact with other users. The holders of EBY token will have additional advantages in which they will be entitled to a proportional share of the fees generated on the platform and will have voting rights on site proposals.

Ethbay is here to overcome the major shortcomings of the traditional online marketplaces such as over the top fees for transactions & listings, lack of security in carrying out transactions and lack of any long-term reward for platform loyalty. Through its innovative approach, the platform manages to provide users with free listings, drastically reduced transaction fees and rewards the holders with fair returns on their investment using a platform-specific cryptocurrency that tracks the value and popularity of the platform.

Ethbay will be open for users from around the world and to register on the platform, they will not require entering any personal information; however, users may choose to add their email address to receive notifications regarding sales, offers, purchases etc if they wish. Sellers can provide an Ethereum address where they want to receive the payments for any sales they make. Once the buyer receives their order and satisfied with their purchase, they can release the escrow to the seller.

Ethbay is a rapidly growing online marketplace that is continuously working towards improving its services and adding better features to it. In the future, Ethbay plans to add a feature called Ethbay Services on the platform through which the users can buy and sell services using Ethereum, sort of like a decentralized Fiverr. It also plans to create Ethbay Classifieds where the users can buy or sell locally using Ethereum.

More information about the platform and the upcoming ICO can be found at www.ethbay.co.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.