Day: June 18, 2018

At this moment in time, the cryptocurrency industry is dealing with a few issues, including partial centralization, slow transaction speeds and high fees. #MetaHash represents a blockchain-based digital asset exchange network, alongside a decentralized real-time application platform that aims to solve these problems.

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The platform is powered by artificial intelligence, which is used to better synchronize nodes, in order to create a latency rate-based optimal map of the network. The data is then redistributed in a manner that harnesses the network’s entire capacity, capable of processing five billion transactions per day, with a 3 second confirmation time.

Currently, the #MetaHash platform is based on four pillars that work together towards forming a sustainable network. These are:

• The #TraceChain, which acts as a signal routing protocol, based on machine learning technology. It grows automatically as more high-bandwidth nodes are added to the network.
• The #MetaApps, whose code works by optimizing the afferent location of application copies, while taking network resources and the financial motivation of owners into account.
• The #MetaGate, which is the platform’s go-to browser for decentralized application. It also offers a multi-currency wallet, and allows developers to embed #MetaApps and #TraceChain protocols into their applications.
• The #MetaHashCoin, which represents the system’s digital asset and primary means of payment. The coin is consensus-based and capable of regulating the self-financing aspects of the network’s development process. Users can exchange it to other cryptocurrencies, such as Bitcoin and Ethereum.

The design philosophy of #MetaHash will provide great benefits to the crypto industry, as it will allow users to process billions of transactions without the need of leveraging expensive hardware. Additionally, thanks to the #TraceChain protocol, the network is one of the quickest available, with extremely low confirmation times and almost-zero transaction fees.

Based on everything that has been outlined so far, it is expected that by leveraging the #MetaHash network, the cryptocurrency industry will see a rapid development, granted the advantages offered by the technology.

Moreover, #MetaHash has announced details around its upcoming public token sale and beginning of forging as an evolution of mining. #MetaHash aims to allocate 920,000,000 #MetaHashCoin (#MHC), equivalent to 10 percent of its token emission. Starting from 12:00 UTC on 29th of June, 2018, and continuing until the goal is reached, interested parties can purchase #MHC for $0.0391 per token (will be accepted in ETH and BTC at the exchange rate at the time of purchase).

The first buyers of tokens will enjoy the attractive initial price which is at least 2 times lower than at the next phase. Moreover, they may also get the maximum advantages of the early forging, the start of which is planned for August of 2018.

In comparison to mining, forging is based on different principles and offers a set of unique advantages for crypto enthusiasts including high accessibility and effectiveness even for smartphone-based forgers, low costs, no overheat and damaging to the environment, and rewards for the use of active tokens in verification and support of the network.

Those who wish to learn more about #MetaHash can visit the official website, follow the team on Medium, join the official chat on Telegram, and check out the presentation video. To apply for the ICO, please submit your request at metahash.org/#ico.

Who is the richest person in the world? Who said, “It costs a lot of money to look this cheap?” Where do they drink the most alcohol per capita? Ireland, Scotland, Russia or France? Readers who immediately answered just might be perfect guests on Dominic Frisby’s Financial Game Show, launching in the United Kingdom. Prizes include standard fiat payouts, but the show is also offering prizes in bitcoin cash (BCH) and even silver bullion.

Also read: Star Trek Icon Joins Bitcoin Mining Revolution

Game Show Offers Prize Money in Bitcoin Cash

A recent announcement blogged by famed UK financial guru, Dominic Frisby, explained he “is host and quizmaster in [a] classic gameshow full of fascinating financial facts. Contestants from the audience (willing volunteers only) can win big prizes including £500 in cash – there is £500 to be won every show – solid silver and bitcoin cash. Games range from higher-lower for house prices to to high-pressure quiz questions with the £500 jackpot at stake. Exciting, informative, amusing.”

Dominic Frisby is a well known author on things financial, including Bitcoin: the Future of Money? (praised by no less than Sir Richard Branson). He’s also something of a television star, hosting very popular shows on financial literacy such as Let’s Talk About Tax, blending both finance and humor. Indeed, he bills himself as “the world’s only financial expert and comedian.”

“I am very excited to be going to the Edinburgh Festival this August,” he posted. “My show is called Dominic Frisby’s Financial Gameshow. It’s at 5pm at the Gilded Balloon.” It’s a triumphant return of sorts, and mostly because it follows his “widely-acclaimed show, Let’s Talk About Tax.” As “the world’s only financial expert and comedian, Dominic Frisby has devised a new game show that mixes The Price Is Right with Mastermind. It’s all about money, finance, economics – you know, boffin stuff but made exciting,” Broadway World Scotland detailed.

Reviews have been positive. The Times described the new show as, “Very witty… entertaining and educational… impressive,” while The Spectator mused it was “Funny, absorbing… full of historical insights.” Mr. Frisby notes the show has “some great prizes for the winners: silver bullion kindly donated by Ross Norman at Sharps Pixley; Moneyweek subscriptions (thank you Merryn); bitcoin cash; and a £500 jackpot each show, donated by a mystery sponsor whose name is yet to be announced.”

Are game shows and entertainment important to crypto adoption? Let us know in the comments. 

Images via the Pixabay, Dominic Frisby’s Financial Game Show.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post UK Financial Game Show Uses Comedy & Bitcoin to Entertain, Inform appeared first on Bitcoin News.

Cryptocurrency volumes have dipped to a two-month low, with levels resembling those seen earlier this year during April’s downtrend. But what does this mean for the market in general?

Is Volume An Viable Indicator?

As of June 18th, exchange volume has collectively dropped under $10 billion dollars, with these levels being seen in early April. 

The collective exchange volume is currently down over 80% since the large influx seen in early January, which topped out at a staggering $68 Billion in 24 hours. Tom Lee called this absurd amount of volume an “abnormal” figure, believing that January’s volume should be of no comparison to today’s volume.

Nevertheless, trading volume present with a specific asset, or asset-class, has long been held as a significant indicator of the market’s interest in an asset.

With some critics keeping this ideology in mind, they have suggested that investors are losing interest in the industry, and quick too. Despite these fears, cryptocurrency and blockchain development is still at all-time highs, with countless institutions piling on to the cryptocurrency bandwagon.

Just last month, IBM announced that they are planning to create a cryptocurrency in collaboration with a carbon-credit startup. Seeing such a large technological player get its feet dipped into the cryptocurrency market has produced some bullish sentiment, as some predict that this cryptocurrency will reach wide-spread adoption as a carbon-credit alternative. 

Additionally, regulatory fears have slowed as governmental bodies have eased their previously relentless pressure on the industry. Although these announcements have not caused the expected surge in exchange volume, some expect that volume has moved to the more secretive OTC exchanges. 

Has Volume Moved To OTC Exchanges?

Over-the-counter trading has become a reoccurring practice for larger institutions, which is a statistic CoinMarketCap does not register.

This may be due to the fact that most exchanges, whether large or small, do not have enough liquidity to support hundreds of millions of dollars worth of trades.

OTC trading often utilizes so-called ‘darkpools’, that allows for private investors to exchange copious sums of fiat for cryptocurrencies, with no fears of order book manipulation. These darkpool services have long been inaccessible for the ‘average joe’, as most people do not have access to millions in funds.

Some speculate that OTC volume numbers in the billions, making the volume of traditional exchanges look minuscule.

As well, there may be some other factors that may have caused this large decline in trading volume.

Users may just be ‘HODLing’ their cryptocurrencies, expecting an eventual run-up in prices. Tom Lee and Robert Sluymer hold this sentiment as well, with the Fundstrat duo expecting Bitcoin to reach over $25,000 by the end of the year.

This specific variant of bullish sentiment has become common with cryptocurrency influencers. With Xapo’s president also expecting Bitcoin’s value to rise over time, reaching a valuation of hundreds of thousands of dollars in a few years time, giving no regard to daily volatility.  

Volume should not be fully attributed to price action, as there may be some users not willing to trade their currencies in a market like this.

It became clear that a majority of the volume seen in late December/early January was the result of short-term speculators trying to turn a profit. However, the market in its current state has become almost impossible to predict in short time frames, further deterring speculators. Why trade when your chance of a loss outweighs the profit potential?

The declining volume should not have investors worried, as the fundamentals are still strong for the industry, with cryptocurrency development showing no signs of slowing. As many in the industry like to say, “build it and they will come.”

Featured Image from Shutterstock

The post Cryptocurrency Volume Drops To A Two-Month Low, Should You Be Worried? appeared first on NewsBTC.

The seemingly banal enterprise applications for blockchain we’re seeing, like food traceability, are actually a big deal and worth celebrating.

The number one position on Upworks US skills index is now blockchain expertise, making these the most sought-after positions for with current employers, writes Forbes.

The Upworks index is a strong indicator of the rising need within the US professional’s employment market for employees with blockchain experience and also is a gauge which indicates that blockchain has arrived and it is clearly not going away any time soon. According to Burning Glass Technologies, there were more than 5,743 jobs posted needing blockchain skills in the last 12 months.

As Bitcoin News has reported, multinationals such as IBM and Samsung have shown the world the value of the new technologies by embracing blockchain wholeheartedly. Companies such as Walmart are updating their supply chains and state governments in the US are increasingly turning to the technology to streamline government departments and state law.

What kind of blockchain related positions become available very much depends on demand. Blockchain developers, or engineers are top of the tree, being in high demand due to these positions highly technical nature. The whole process of developing a blockchain platform very much relies on the expertise that these professionals can bring to the project.

Blockchain project managers and designers are also in demand. The manager is responsible for tying technical aspects of the blockchain to the company’s actual business requirements. The job calls on standard management skills that might have been earned in other industries, using this ability to communicate to customers who may not have the tech skills nor vocabulary, but while still having the technical know-how themselves to communicate with staff.

One aspect of the tech that is becoming increasingly important, and perhaps is illustrated quite graphically by the recent Italian court case involving BitGrail, is the need for companies to employ a blockchain attorney or legal consultant in order to tackle the legal ramifications of using blockchain.

It is likely that the need for these professionals will swell over the next two years as blockchain takes on a more mainstream profile across sectors. Bernard Marr, writing in Forbes, suggests, “Blockchain has become what the “cloud” was in the mid-2000s, poised to be the most highly talked about technology and one that offers tremendous professional opportunity.”

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TrustToken, which aims to put tokenized assets on a blockchain, raised $20 million in a strategic token sale with help from Andreessen Horowitz.

The Bank of International Settlements says crypto can’t function as money, given it lacks “scalability, stability of value and trust in the finality of payments”

Major Russian banks Sberbank and Alfa-Bank reportedly testing new crypto-based investment fund to include Bitcoin, Ethereum and Litecoin

Bitcoin will likely drop below $6,000 this week, with bearish indicators still littering short- and long-term charts.

McKinsey experts suggest that by 2020, the number of smart cities will reach 600 worldwide according to Bitcoinschannel.

These cities are happening right now with China, UAE, Estonia and the US clear forerunners in the McKinsey analysts’ prediction of 600 metropolia in the next two years.

Dubai, with its high-tech society of unmanned trains and Wifi benches, plans to become the first blockchain megalopolis by 2020. Projects underway involve giants Google, Uber, Amazon, and IBM and, due to the initiation of its Smart City program, 545 city projects are underway which have the capacity to change residents lives.

All documentation in the future will be paperless, goods will be tracked using blockchain and unmanned trucks for delivery of goods is planned for the not too distant future.

Estonia loves its cryptocurrency and has long used blockchain, and is hailed as another crypto haven. DLT has been used in health, judicial, legislative, security and commercial systems in the country since as far back as 2012, making it another forerunner in adopting and utilizing new technology for practical civic purposes.

Estonians are able now to see who has been accessing their personal data through the blockchain, such as medical cards, drivers license or insurance details and can legally challenge any illegal or unauthorized access such information.

Not to be outdone, China plans to establish 1,000 smart cities on its own, again designed to improve the lives of its citizens. Its smart metropolis of the future is reputed to be Yinchuan where payments have been streamlined to the extent that facial recognition has become an accepted ID and shopping is conducted through a smart mobile application.

China has long expressed to the world its scathing condemnation of cryptocurrencies but has adopted blockchain like a long-lost friend. Chinese authorities are now exploring blockchain as a solution the data storage in numerous sectors and in central government. Also after notable scams, banks are starting to use electronic ledgers similar to that employed by Bitcoin to safeguard customer security.

In the US blockchain is being increasingly legislated for at state level and is being increasingly used for organizing record keeping, updating state databases.

US states are increasingly beginning to come on board in order to utilize blockchain tech. The state of Arizona has officially signed into law a bill that allows for corporations to hold and share data on a blockchain. First introduced in February by state representative Jeff Weninger, the bill is intended “to open the door for emerging technologies in Arizona”.

As states line up the new technology, Tennessee signed a bill recently that legally recognizes blockchain technology and smart contracts for electronic transactions. The bill also makes a provision that “protects ownership rights of certain information secured by blockchain technology”.

Nebraska, Florida, Arizona, Nevada, and Vermont, along with Maine, Hawaii, Illinois, and North Dakota are some of the many US states notably either in the process of presenting bills, enacting legislation or actively utilizing blockchain in state legislation.

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