Day: September 10, 2018

Developers all over the world are invited to participate in Bytom’s first ever Global Dev Competition. This event will see two million of Bytom’s highly acclaimed BTM tokens awarded to participants. Notably, this acclaimed cryptocurrency grew to an all-time high of over a dollar each, despite the bearish sentiment of the current market, making it a distinctive digital asset.

The Developer Competition is in line with Bytom’s mission as a flagship platform for artificial intelligence on a blockchain protocol. Following the successful launch of its mainnet in April of 2018, Bytom has set its sights on catapulting blockchain technology to new heights through strategic and technical alliances in China and other international markets. The company’s goal is to expand into a full-fledged, sustainable, open-source ecology, delivering cutting-edge solutions that combine artificial intelligence and blockchain technology.

To further this goal, Bytom is looking to tap into a global talent pool to strengthen and grow the development of its platform as it positions itself as an industry leader. Through the competition, Bytom aims to work alongside the leading minds of tomorrow’s development in bridging the digital and physical world. It plans to do this by establishing a decentralized network where various digital and physical assets can be registered and exchanged.

Tomorrow’s Mission Today

Registration for the competition is now open

Talented developers and development teams from all over the world can freely register on the platform and upload their projects for preliminary evaluation.

Following the submission, a shortlist will be announced for the final stage which will be held in Hangzhou, China from October 18th to the 21st. Contestants will be given technical guidance and support from experts to help realize their project. The winner of the event will be awarded with two million BTM coins. An in-depth developer guide of the platform has been made available.

Bytom will also be hosting a Developers Conference at the end of October in Silicon Valley. The conference is geared at helping developers better understand the opportunities offered by Bytom.

Three Paths Offered for Developers

Recognising the myriad of possibilities available to developers, Bytom has created three directions to help guide developers. The first is that developers will be able to build DAPPs on Bytom for financial use cases such as blockchain-based bonds or equity issuances.

Next, developers can also introduce tokenization logic networks to create token-based applications. An example of this is Hong Kong TV station which has begun tokenizing their assets on the Bytom blockchain.

Finally, supporting tools can also be built by developers to expand the functions of Bytom blockchain, unlock new abilities or upgrade existing ones. Examples of these are the one-button AI Miner built by Discus-Fish/F2Pool to improve mining for large-scale mining equipment in Bytom’s computing power. Another would be the Btm-scan blockchain browser, created by Bytom technical. Btm-scan is used in several activities running on the Bytom blockchain.

About Bytom

Launching its mainnet early this year, Bytom has established its presence as a leading blockchain platform. It uses an interpretative computer language called Equity, which is Turing complete. The goal of Bytom is to connect assets using a blockchain, thereby enhancing their security, liquidity, and value.

Bytom Blockchain Protocol aims to become the world’s largest dedicated public blockchain to link diverse asset classes and increase their value, liquidity, and security.

Learn more about  BYTOM – https://bytom.io/

Join the Global Dev competition – https://bytom.io/developers_en/

Read the BYTOM Whitepaper – https://bytom.io/wp-content/themes/freddo/book/BytomWhitePaperV1.1_En.pdf

Connect on Facebook –  https://www.facebook.com/bytomofficial/

Chat on Telegram –  https://t.me/BytomInternational

Reddit – https://www.reddit.com/r/BytomBlockchain/

Read about Bytom on Twitter –  https://twitter.com/Bytom_Official

Join on Discord – https://discordapp.com/invite/U3RSYr5

Medium –  https://medium.com/@cloudmoolah

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bytom

The post Bytom Launches Developer Competition with Two Million BTM Available for Winners appeared first on BitcoinNews.com.

Blockchain startup Paxos has launched a regulated, dollar-backed stablecoin to facilitate instant transaction settlements for crypto investors.

The year 2018 has not been all that great in terms of overall cryptocurrency market momentum. All of the top currencies are on the decline, yet it would appear the overall interest in these currencies is not on the decline. The following 6 cryptocurrencies and assets ranked highest in terms of purchase volume in US Dollars. Data is provided by Statista.

#6 Ethereum Classic

It may seem rather surprising to see Ethereum Classic on this list. The currency has been making inroads among institutional investors as of late. As such, it generates more purchase volume than Dash, Litecoin, or even XRP. With $254.28m in volume purchased throughout the first eight months of 2018, ETC is making some very interesting moves in quick succession.

#5 Bitcoin Cash

After successfully surviving the first few months of existence, Bitcoin Cash has begun hitting its stride. Although the currency is still subject to some controversy, its appeal is on the rise. A total purchase volume of $420.11m in eight months is pretty good. Compared to the leaders on this list, it is a drop in the bucket. However, Bitcoin Cash is only one year old, which is something to keep in mind at all times.

#4 EOS

It would appear EOS is on a lot of people’s radar as of right now. The currency is making its mark on the industry since the launch of its main net. Plenty of enthusiasts stocked up on EOS prior to this launch, by the look of things. A purchase volume of $746.49m is very decent, especially for a currency which seems to be generating far fewer headlines than other coins.

#3 Ethereum

While Ethereum remains the world’s second-largest cryptocurrency in terms of market cap, it is third in purchasing volume for 2018. That is not entirely surprising, as the year 2018 has been an odd one. Thanks to $1.287bn in purchase volume, Ethereum is still going strong. Those numbers need to increase to remain competitive, though.

#2 Tether

Everyone is well aware of Tether these days. The project offers a stablecoin pegged to the US Dollar. However, the rate of increasing its supply often raises a lot of questions. Throughout 2018, Tether notes a purchase volume of $2.47bn. A rather steep number, especially because of the much lower prices for Bitcoin and all major altcoins. Whether or not this Tether trend will continue, is difficult to predict.

#1 Bitcoin

No one will be surprised to learn Bitcoin dominates all the charts. It is the world’s leading cryptocurrency. It also generates the highest purchase volume throughout 2018. Nearly $4bn worth of Bitcoin has been purchased throughout 2018. How high this number will go by the end of the year, is rather difficult to predict at this stage. Current prices may entice even more people to invest in cryptocurrency later this year.

The post Top 6 Cryptocurrencies in Very High Demand Right now appeared first on NullTX.

Reports say Citigroup is seeking clients for a crypto-based product that lets investors trade crypto without owning it directly

The European Commission will conclude a regulatory assessment of crypto assets this year, because “they are here to stay,” says an official.

The Gemini dollar is a cryptographic token that is (i) issued by a New York trust company, (ii) strictly pegged 1:1 to the U.S. dollar, and (iii) built on the Ethereum network according to the ERC20 standard for tokens. The Gemini dollar is a stable value coin that combines the creditworthiness and price stability of the U.S. dollar with the technological advantages of a cryptocurrency and the oversight of U.S. regulators. As an ERC20 compliant token, the Gemini dollar can be transferred on the Ethereum network. Gemini dollars are created at the time of withdrawal from the Gemini platform and redeemed or “destroyed” at the time of deposit into the Gemini platform.

A new storm appears to be brewing in the cryptocurrency industry. All top markets are dipping in the red once again, even though it remains unclear what is going on exactly. The Dogecoin continues its strong surge for the time being, although it remains to be seen how long this new leg up remains in place.

Dogecoin Price Trend Continues

If there is one interesting market to keep an eye on right now, it has to be Dogecoin, of all cryptocurrencies. More specifically, the Dogecoin price is going through yet another surge, just as the Bitcoin price begins losing value once again. For the Dogecoin price, remaining above $0.006 should not pose any major problems as of right now, but there are still a lot of unknowns regarding this sudden interest.

Two key developments will affect Dogecoin during the month of September 2018. The Dogethereum demo has been received quite well by the community so far. This trading bridge between Dogecoin and Ethereum was considered to be a major milestone for this altcoin. It allows for a streamlined exchange between Dogecoin and ERC20 tokens. Bringing this technology the market will introduce a lot of new opportunities to explore.

Secondly, it would appear Dogecoin will see a hard fork later this month. More specifically, a project known as Dogethereum – or DOGX – will branch off the Dogecoin blockchain in the fall. This was first announced in February of 2018, with a proposed timeline of September 30th or earlier. To date, it still remains unclear if this fork will happen, but it is interesting to keep an eye on regardless.

Similar to years prior, it would appear Dogecoin is generating a fair share of social media buzz once again. This coincides with the most recent Dogecoin price increase, even though it would appear some of the discussions began prior to any real movements. Even so, it is evident this is a crucial time for Dogecoin and its community, as a further rise seems plausible.

if you have been following my $DOGE charts over the long term you know about the cycles.

we correctly identified the last test pump (purple scribble on chart) and after resetting is having a nice rally.

thanks for following. #gann #doge #cycles #bitcoin #cryptocurreny pic.twitter.com/L6XfOzWSH1

— what's next? (@DJThistle01) September 1, 2018

For the time being, everything looks rather solid for Dogecoin. Despite still not being a cryptocurrency with any real-world potential – at least, on the surface – no one can deny it is one of the most successful digital assets in terms of marketing and social media presence. That alone makes it a valuable cryptocurrency to the right people, and it seems this current trend is far from over.

With a trading volume that can rival most of the sub-top altcoins, Dogecoin seems to be in a good place. It is sufficient to keep the Dogecoin price trend going, for now. Moreover, the DOGE market cap has surpassed $710m once again. At this rate, it should be capable of surpassing $725m later this week, regardless of what happens to the value of Bitcoin. This is by far the most exciting cryptocurrency market as of right now.

The post Dogecoin Price: Much Excitement Continues as Market Cap Surpasses $715m appeared first on NullTX.

A wallet provider has released a new web-based Monero wallet for the Tor web browser, promising further anonymity and privacy for users #SPONSORED

Islamic banking which carries with it higher administrative costs than conventional banking could be benefited with the implementation of blockchain technology.

The two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest.

Blockchain-based banking is considered the next frontier in banking that will usher in a new era of decentralization and disrupt the centralized banking system. Islamic banking is a USD 3 trillion industry worldwide particularly popular in North African, South Asian and Middle Eastern countries. Its principles involve zero interest rates and focus on more control of one’s finances than the conventional banking system.

Financial Institutions such as Hada DBank, a promising new startup, will help increase transparency and bring back control to the average Islamic Bank user. For this purpose, Hada DBank is involved in various corporate partnerships that are cementing the bank’s status as the premier blockchain Islamic bank.

However, fees are an issue in traditional Islamic banking, the main reason being that the system requires higher transactional costs which cover some legal and administrative processes not required in conventional banking.

Blockchain banking in automating some of these processes due to encoding terms and including them in its smart contract system can alleviate some of the associated legal and administrative processes, reducing both cost and the risk of fraud.

In Islamic banking, all financial transactions must comply with Sharia Law, where debt cannot be created unless backed with underlying assets. Mining is acceptable as there is no aspect of either debt or lending involved in the process.  According to Islamic law, items falling under the ribawi category (such as gold or silver) must be exchanged in equal measure and with immediate transfer of possession, otherwise, transactions may involve riba or usury, a major prohibition in Islam.

UAE-based startup Adab Solutions has launched the world’s first cryptocurrency exchange that operates with full Sharia law compliance. The exchange will be overseen by an in-house Sharia Advisory Board (SAB) comprised of independent experts that will ensure the operations unfailingly remain within the jurisdiction of Islamic law.

As the fastest growing religion in the world, with Muslims now representing 23% of the world’s population, Bitcoin has become an important issue for financial authorities. Last year, the International Monetary Fund (IMF) held its first formal discussion about Islamic banking needs in the Muslim community for the first time.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Blockchain Eases the Way in World of Islamic Finance appeared first on BitcoinNews.com.