Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal

FINANCE

Digital Currency Market Has Evolved to a New Level

Digital Currency Market Has Evolved to a New Level

FINANCE
Cryptocurrencies have come into their own. For the longest time, the question that everyone would ask was whether their favorite cryptocurrency (usually Bitcoin) would survive in the future? Today, the question is more of what will become of the cryptocurrencies in vogue and what shape the evolving cryptocurrency market is taking. We have seen a significant rise of the altcoins, which were previously dismissed as Bitcoin clones. In May 2017 Ethereum had already surpassed half of Bitcoin’s market capitalization. Coins like Ripple, Ethereum Classic, Dash and others have all seen a phenomenal rise in their prices. So has the cryptocurrency market matured? Are we looking at a new phase in the rise of Bitcoin and other cryptocurrencies? The Growth is Phenomenal There is no doubt that th
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Japan is Establishing a Testing Hub for Innovative Financial Technology

Japan is Establishing a Testing Hub for Innovative Financial Technology

ADOPTION, BITCOIN, BLOCKTECH, FINANCE
Japan’s financial regulator will establish a FinTech hub to provide a framework enabling industry startups to test new innovative financial services. A report in the Nikkei on Wednesday has revealed that Japan will install a ‘testing hub’ for financial technology startups and companies to trail new services. Established by the Japanese Financial Services Agency (FSA), the hub will help enable developers and regulators to understand hurdles in the way of the FinTech industry’s growth and identify legal concerns that need to be adhered to. Expected to launch this summer, the FinTech hub is likely to be the ‘precursor’ toward a regulatory sandbox – a testing environment commonly seen with FinTech-forward countries including the likes of Singapore, the United Kingdom and Australia, a
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Bubble-Like ICO Market – Investors Dive In For Short-Term Profit

Bubble-Like ICO Market – Investors Dive In For Short-Term Profit

ALTCOINS, BITCOIN, FINANCE
Recently, Pieter Levels, the founder of popular web and mobile-based platforms such as Nomad List, offered insights into the growing bubble-like ICO market. Levels revealed that he was personally contacted by five developers that pitched an idea for an initial coin offering (ICO) for his most successful product Nomad List, which provides detailed guides to the best cities for digital nomads based on various factors such as cost of living and internet speed. A message received by Levels read: “Hey, why not create NomadCoin, a digital currency for nomads. People would be able to pay for co-workings, coffee, hostels etc. I can help you. You can even raise funds through an ICO / crowdsale.” The above mentioned tasks such as buying coffee and paying rent can already be done with exi
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Mainstream Institutions and Investors Demand Towards Bitcoin Sector is Escalating

Mainstream Institutions and Investors Demand Towards Bitcoin Sector is Escalating

FINANCE
The demand towards the bitcoin industry is increasing at a rapid rate. Major institutional and billionaire investors are entering the bitcoin sector to fund leading startups such as Coinbase and Blockchain. On June 22, CCN reported that Blockchain raised a $40million funding round from Google’s venture capital firm, Lakestar and billionaire investor Richard Branson. In an interview with CNBC, Blockchain CEO Peter Smith stated that the multi-million dollar funding round will be allocated in the development and scaling of the Blockchain wallet platform that is utilized by nearly 15 million users. According Blockchain data, the wallet platform has added over 7 million users in the past year, recording more users than it did within a 7-year period from 2009 to 2016. To address
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Renowned VC Gives Investment Tips for Bitcoin and Ethereum Traders

Renowned VC Gives Investment Tips for Bitcoin and Ethereum Traders

FINANCE
Prominent venture capitalist and investment firm co-founder Fred Wilson shares investment tips for Bitcoin and Ethereum traders in a blog post entitled “The Selloff.” His investment firm Union Square Ventures is based in New York. Since the beginning of January, the cryptocurrency market and leading cryptocurrencies such as Bitcoin and Ethereum have experienced corrections. Some market corrections saw Bitcoin and Ethereum falling by as much as 30 percent, although the two cryptocurrencies recovered relatively quickly after their initial decline. In a blog post, Wilson noted that as he told his daughter who has also been an early investor in Bitcoin and Ethereum, he encourages traders and investors to consider what the price trend and value of Bitcoin and Ethereum will be in five to 1
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Venezuelans Seek Economic Security in Bitcoin and Digital Currency

Venezuelans Seek Economic Security in Bitcoin and Digital Currency

ADOPTION, BITCOIN, FINANCE
It’s no secret that Venezuela is in an economic tailspin. The country famously sought to end corruption (a la India in November 2016) by removing the 100 Bolivar note from circulation. The widespread panic that the already nearly valueless currency would now be worthless led to massive lines and protest from citizens seeking the protection of assets. At that time, many Venezuelans began seeking refuge from the economic turmoil by investing in cryptocurrencies. The market responded and Venezuela’s first Bitcoin exchange was opened. However, according to a recent report by Bloomberg this week, the demand for cryptocurrencies in Venezuela has continued to soar. This week’s trading volume on Bitcoin soared again to over $1.3 mln, nearly doubling the levels from two months ago. The volati
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SWIFT Will Use Hyperledger to Update Cross-Border Payments

SWIFT Will Use Hyperledger to Update Cross-Border Payments

FINANCE
The global payment relay network SWIFT has announced it will use Hyperledger as a basis for simplifying international transactions. In a trial together with Australia and New Zealand Banking Group, BNP Paribas, BNY Mellon and others, SWIFT will seek to use the Blockchain to update its practices in an ever-evolving cross-border payments market. In its promotional literature, SWIFT, in line with many institutions in the banking sector, makes reference to the so-called ‘distributed ledger technology’ (DLT). Damien Vanderveken, Head of R&D, SWIFTLab and UX at SWIFT, commented in a press release Tuesday: “We are very excited to start the DLT proof of concept with these participating banks. This is a great step forward and another example of how SWIFT and the industry can work togeth
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Bitcoin and Ethereum vs Visa and PayPal – Transactions per second

Bitcoin and Ethereum vs Visa and PayPal – Transactions per second

BITCOIN, BLOCKTECH, ETHEREUM, EXCHANGE, FINANCE
One of the big debates happening in the Bitcoin community is over the specification of block sizes, which limits the maximum number of transactions that may be processed per second. Luno, a Bitcoin exchange and wallet provider, recently explained that transacting in Bitcoin has become painfully slow. It is also much more expensive than it was a few years ago. A theoretical maximum speed for Bitcoin that has been circulating online is seven transactions per second. However, in reality the Bitcoin network is achieving maximums of 3 to 4 transactions per second. This seems low, and raises the question: How does Bitcoin’s maximum transaction capacity compare to the likes of Visa, PayPal, and cryptocurrency Ethereum? Bitcoin – 3 to 4 transactions per second A few solutions