📰 News Alex Morris

Bitcoin News - BitTorrent Creator Dives Into Crypto Space With Ambitious Project That Could Potentially Replace Bitcoin

📰 News
Bram Cohen strives to make crypto more palatable for banks and eliminate environmental damage caused by mining
BitTorrent Creator Dives Into Crypto Space With Ambitious Project That Could Potentially Replace Bitcoin
something-wide
Contents

Back in 2001, Bram Cohen disrupted the Internet with his BitTorrent protocol, which allowed seamlessly sharing files between individuals. Now, Cohen wants to spark a revolution in the financial industry with his new crypto startup Chia.

💼 Related Article
TRON Buys Out By BitTorrent, Aims to ‘Decentralize Internet’, Companies Confirm
🔥 Hot
7 months
256
TRON Buys Out By BitTorrent, Aims to ‘Decentralize Internet’, Companies Confirm

Having the SEC among its neighbors

During the interview, Cohen revealed that his startup is soon moving to a San Francisco skyscraper, which is already a mainstay for many bigwigs in finance. Another peculiar fact is that Ciha will reside near the SEC’s west coast office. Despite the fact that the SEC has been showing its hawkish attitude towards cryptocurrencies and ICOs (its attorney has recently compared crypto to cannabis stocks), Cohen is clearly not deterred by its influential neighbor.

He states that the startup will hold a traditional IPO instead of an ICO. It is worth mentioning that the company has already secured $3.4 mln in venture funding, attracting such big-name investors in the likes as Andreessen Horowitz.

“Farming” replaces cryptocurrency mining

The BitTorrent creator also touches the issues of environmental problems caused by Bitcoin. Bitcoin uses the original Proof-of-Work (PoW) consensus algorithm, which often criticized because of its excessive energy consumption. This study, for instance, shows that Bitcoin mining consumes more energy than Ireland in a year.

Cohen wants to completely rebrand the term “cryptocurrency mining” by giving it the name “farming”. Cryptocurrency farming also presupposes competition, but there is no need to run powerful mining equipment since it is all about amassing disk storage. Expanding your storage won’t produce a negative impact on the environment, unlike Bitcoin mining.

Its modus operandi is extremely simple: one protocol is designed to check the amount of storage used for cryptocurrency mining while another one safeguards community members from potential fraudulent activities.

The startup has also launched a completion among mathematicians to determine the efficiency of the new farming technology. The winner would get $100,000 in BTC (the Chia currency is expected to be launched later this year).

Bitcoin is not suitable for banks

The Chia currency is expected to be adopted by banks as a means of conducting international transfers.  According to Cohen, Bitcoin is not suitable for banking institutions, so he has applied his extensive experience in engineering protocols in order to tackle this problem. The new currency will allow automating contracts and holding funds in escrow.

💼 Related Article
I Am With Banks: Hillary Clinton Claims She Doesn’t Own Bitcoin
🔥 Hot
5 months
256
I Am With Banks: Hillary Clinton Claims She Doesn’t Own Bitcoin

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
📰 News
63 views views
👓 Recommended articles
📰 News Yuri Molchan

EOS Soars Nearly 24 Percent Overnight, Bitcoin Almost Reaches $4,000 in the Green Market

📰 News
The cryptocurrency market is enjoying a ‘green’ day on Tuesday, EOS spikes overnight with Bitcoin Cash following it, being the second top gainer
EOS Soars Nearly 24 Percent Overnight, Bitcoin Almost Reaches $4,000 in the Green Market
something-wide

On Tuesday, Feb 19, the market is pleasing investors with positive news – nearly all top-100 coins are heading North, and all the top ten and top twenty coins are in the green area.

Bitcoin and the top gainers

This morning, Bitcoin has shown a rise by 5.01 percent, now standing at $4,937. Over the past few days, its trading volume has appreciated by around $4 bln, as has its market cap.

The highest gains are being shown by EOS (the Enterprise Operating System), which has appreciated almost 24 percent over the last day. The coin’s price now stands at $3.61.

It is followed by Bitcoin Cash with a rise by nearly 14 percent and the current price of $148.43.

The next big gainer is out of the top-ten list – Cardano. Over the last few days, ADA has managed to overtake Bitcoin SV and claim spot #11.

💼 Related Article
JP Morgan’s Coin is Not Crypto, Global Community – Rest Assured: Forbes
🔥 Hot
1 day 6 hours
256
JP Morgan’s Coin is Not Crypto, Global Community – Rest Assured: Forbes

EOS does not have a frontman – is it good or bad?

Many top-ten crypto assets do have a famous figure leading them into the future and mass adoption. When thinking of Ethereum, Vitalik Buterin springs to mind; when talking about Bitcoin, there is at least Satoshi Nakamoto; Bitcoin Cash is mostly associated with Roger Ver; and for Bitcoin Cash SV, you have Craig Wright, who also claims to be Satoshi Nakamoto.

In this respect, EOS seems to have a wide field of freedom for their PR team initiative. Still, each of the abovementioned crypto figures has its own haters or people who dislike them.

Some think that Vitalik Buterin is weird-looking and lacks charisma. Roger Ver is believed to be hysterical to some. When one talks about Mr Craig Wright, for every fan there is at least a dozen people who laugh at his Satoshi claims.

Speaking of Craig Wright

Speaking of negative reaction towards the Bitcoin Cash SV public leader, on Monday, U.Today reported that Mr Wright has assured the US CFTC that he is the one, undisguised Satoshi Nakamoto and even went as far as suggesting swearing an oath to prove that.

Still, the absence of a public figure at the head of EOS may be even a good thing under these circumstances.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
📰 News
439 views views
👓 Recommended articles
📰 News Yuri Molchan

Coinbase Buys DLT Platform Neutrino After BTC Transactions to Hamas Group Were Confirmed

📰 News
Coinbase exchange buys DLT analytics firm Neutrino in order to expand its offer to customers regarding wider choice of digital assets
Coinbase Buys DLT Platform Neutrino After BTC Transactions to Hamas Group Were Confirmed
something-wide

The US-based exchange Coinbase believes that acquiring Neutrino will be helpful since the exchange has to collaborate with various regulatory agencies in a wide range of countries when bringing crypto trades to local users.

The director of engineering and product of Coinbase, Varun Srinivasan, believes that the newly-acquired platform will also help the exchange to see what digital assets are getting more valuable in the crypto industry.

Moving in together

This week the Neutrino staff (eight people) will be joining the London office of Coinbase on a permanent basis, thus blending with their new head company. As per Srinivasan, the new staff will also help Coinbase in researching new digital assets and help the platform to distinguish malicious activities when they happen – theft or selling data to third party companies for insider trading.

The financial conditions on which Neutrino agreed to join Coinbase have not been disclosed to the media.

💼 Related Article
Craig Wright, the Self-Proclaimed Satoshi, Promises to Swear Oath He Is Bitcoin Inventor, Thus ‘Proving’ His Claims Once and for All
🔥 Hot
1 day 8 hours
256
Craig Wright, the Self-Proclaimed Satoshi, Promises to Swear Oath He Is Bitcoin Inventor, Thus ‘Proving’ His Claims Once and for All

Coinbase found to be used for sending crypto to terrorists

The acquisition of the analytics firm happens a short while after a Bitcoin donation to the Hamas group of militants in Palestine was made by using a Coinbase account. The exchange reps believe that their new company will help to avoid similar incidents in the future.

The CEO of Neutrino, Giancarlo Russo, says they agreed to join Coinbase since they find the company’s mission regarding the creation of an open monetary system attractive, together making the crypto space safe and compliant with regulators.

Subscribe to the official U.Today Telegram channel. Get news first!
📰 News
393 views views
👓 Recommended articles
📰 News Alex Morris

Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried

📰 News
IBM plans to further expand its Stellar-based cross-border payment system, covering ‘a substantial portion of the world’
Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried
something-wide

IBM has big plans for Blockchain World Wire, its Stellar-powered payment system that was launched in September. Jesse Lund, Head of Blockchain Solutions at IBM, has recently revealed in an interview that a ‘a lot of announcements are coming soon’, but he already spilled the beans on some important details that might make the XLM price shoot through the roof.

💼 Related Article
Bitcoin, Stellar See Massive Gains Following Launch of IBM's 'Stable Coin'
🔥 Hot
7 months
256
Bitcoin, Stellar See Massive Gains Following Launch of IBM's 'Stable Coin'

On-boarding 40 banks from the get-go   

Blockchain World Wire is yet another powerful player in the cross-border payment that aims to make unnecessary banking intermediacies obsolete. XLM poses as a viable settlement instrument in the ecosystem of cross-border payments. Lund claims that Blockchain World Wire will be supporting 50 countries out of the gate, ‘dragging along’ up to 40 banks.

Their goal is to cover a substantial portion of the world. In three years, IBM’s Stellar-based product could be used for sending cheap and fast transactions ‘to anywhere in the world.’

Will Blockchain World Wire use XRP?  

So far, the Stellar-based payment network remained in the shadow of Ripple — RippleNet has managed to connect more than 200 banks and financial organizations. However, unlike Ripple, IBM is not going to pose an issuer of a digital asset. With the help of Blockchain World Wire, they want to utilize a set of cryptocurrencies for international payments. Apart from XLM, they could use Bitcoin, stablecoins, and even XRP. IOverall, Blockchain World Wire will support more than 40 currencies.          

Join our Telegram channel to get news even faster!
📰 News
9480 views views
👓 Recommended articles
📰 News Yuri Molchan

Tron Hosts Over 200 DApps, Justin Sun Says 9th ERC20 Coinburn Has Taken Place

📰 News
More dApps are appearing on the Tron blockchain, some of them with a user base of over 50,000 people
Tron Hosts Over 200 DApps, Justin Sun Says 9th ERC20 Coinburn Has Taken Place
something-wide

Unlike blockchains of the first generation, Tron is not focused on its native coin only. Just like Ethereum or EOS, Tron allows developers to build decentralized apps and their own platforms on it, hoping to get the whole Internet decentralized in the end.

Tron’s success with dApps

So far, Tron has been making progress in hosting dApps. Now reps of the platform report that there are more than 200 decentralized apps in the blockchain already.

Tron has been making fast progress in this area. Slightly over 20 dApps running on it have around 65,000 new daily users. Its rivals, EOS and Ethereum, which also produce dApps, do not have such popular applications running on them.

Dappradar.com

This website provides data on dApps that run on the major global DLT platforms. Dappradar says that among the most popular dApps in the world, three are Tron-based – PLAY GOC, Crazy Dogs Live and Epic Dragons. The first two are gambling ones, the last one is a game.

Dapp Rankings

These three dApps are part of the top ten category. The other seven are EOS-powered. Tron has managed to reach this level of popularity in a short period of time – the platform was founded less than two years ago, and by the summer of 2018 it got off of Ethereum and onto its own mainnet. Thus, the success with dApps has been achieved in less than one year.

💼 Related Article
Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried
🔥 Hot
11 hours 12 min
256
Stellar (XLM) Price Predicted to Grow After IBM’s Major Announcement That Will Make Ripple Worried

Tron burns its old tokens

A short while ago, Justin Sun tweeted that one more stash of old ERC20 coins has been burned. When launching its own mainnet in the summer last year, Tron announced a token swap where old Ethereum-based ERC20 Tron coins were exchanged for new TRX tokens based on the newly launched independent blockchain.

Join our Telegram channel to get news even faster!
📰 News
640 views views
👓 Recommended articles
📰 News Alex Morris

Bitcoin News - Fundstrat’s Tom Lee Voices Bullish 2019 Prediction After Recent Bitcoin (BTC) Price Surge

📰 News
Bitcoin Investment Trust (GBTC) is trading at 36 percent premium as Bitcoin is prepping to test $4,000
Fundstrat’s Tom Lee Voices Bullish 2019 Prediction After Recent Bitcoin (BTC) Price Surge
something-wide

According to Tom Lee, the CEO of Fundstrat, the recent Bitcoin (BTC) price spike made the premiums the Bitcoin Investment Trust (GBTC) premium rise to 36 percent. It means that more institutional net buyers are interested in Bitcoin, and it’s yet another reason why 2018 is shaping up to be ‘way better’ for cryptocurrencies than the painful 2018.

The correlation between BTC and GBTC
GBTC, which is offered by Grayscale Investment, appeared the OTC market back in 2015 as the first publicly traded Bitcoin instrument. It gave investors an opportunity to trade Bitcoin on the stock market. Historically, GBTC served as a contrarian indicator for Bitcoin — GBTC inching closer to losing its premium could usually mean that there was another bull run in the offing.  

💼 Related Article
Grayscale Launching Another Crypto Fund For Traditional Investors
🔥 Hot
1 year
256
Grayscale Launching Another Crypto Fund For Traditional Investors


On top of that, the GBTC premium has a very mercurial nature as the graph below shows (it would go from zero to 142 percent).
Fundstrat’s Tom Lee Voices Bullish 2019 Prediction After Recent Bitcoin (BTC) Price Surge

Is Lee getting it right this time?

In 2018, Lee’s year-end prediction for Bitcoin was $25,000, but the bull run never happened. Eventually, the Bitcoin uberbull quit making predictions, but it seems like he’s at it again. This time, however, Bitcoin has a much better chance given that a slew of institutional investors are finally taking baby steps towards embracing crypto.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
📰 News
5 views views
👓 Recommended articles