Binance killed CoinMarketCap.com - Daily Fintech

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20
Hey everyone! This is Part IV of VI from our May-June update catchup series (5 Jun - 11 Jun'20):

Yosma's Cheerful Cassowary beat Eva's Bright Beetle in a quick finale to win this week's Parena which had a massive $PAR pot thanks to a generous donation from Tony. Gamer Boy’s “Random Gk” and “Renewal from January” quizzes in Tiproom were fun as always. Plus, there were 10k $PAR in prizes. Cool! Charlotte’s “Mega Trivia” got everyone scratching their heads. CoD Mobile gamers were in for an epic time this week with Tavo hosting a tournament with a 3k $PAR pot in the Parachute War Zone. Two-for-Tuesday slid into the "rap, reggae and reggaeton" mode this week. Click here to listen to the playlist. Thanks Sebastian for setting it up! If you have been around for a while, you’ll know that Clinton’s charity, For Living Independence, does some amazing work. So the next time you shop on Amazon, don’t forget to show some love though AmazonSmile.
Cap and crew made their voices heard in NYC this week in solidarity with George Floyd
Congratulations to 2gether for crossing the 40k user mark this week. A new way for account top ups was introduced as well. This week’s CEO email covers news on the latest UX and the 2GT token. Youtuber Funontheride featured the email in his video. Filippo Angeloni covered the latest updates in his newest video as well. Founder Savador Casquero wrote about crypto staking in an Investing.com article. MakerDAO covered the 2gether card in its blog post on crypto debit cards. Following the XIO dApp update from last week, Citizens brainstormed about the UI this week. Citizens also talked about some of their contrarian beliefs in crypto. Bomb community started a Uniswap rewards program. Voyager raised USD 2.1M through a private placement from investors such as Streamlined Ventures, Susquehanna, Market Rebellion etc. Their stock has seen some enormous growth this year too. CEO Stephen Ehrlich shared his thoughts on the crypto market in a recent Bloomberg article. The team also took inputs from the community on which crypto to list next. John McAfee announced a Ghost cell phone data service to be released in September. Check out how the eSIM will work from the sneak peek video. The list of supported phones is mentioned here. And hope you had good fun in ParJar Gaming while winning some cool $ESH. A new set of upgrades were pushed to the Fantom Wallet. For the latest technical update on the project, click here. This week, I also wrote a Hackernoon article (with my co-author Rohit) exploring projects which had unique variations to Proof-of-Stake for their chain consensus. Among the projects featured were Fantom, COTI and Harmony. Jeff from Uptrennd will be speaking at the LA Blockchain Summit in October this year. The winners of the Blockchain Awards were announced. The newest Opacity release allows expired accounts to be revived within 2 months of expiry.
Fantom, Harmony and COTI take up a tiny but growing slice in the global staking pie
Catch up on the latest District0x weekly update and dev update from here and here respectively. The Q1 2020 report was released as well. The project is still sitting on a healthy crypto asset base of USD 4M+. Hydro team shared a guide to choosing a prepaid debit card program manager. Their PaaS report was also covered by Finovate this week. A new research page for featuring all of Hydro’s fintech research material was released. The successful applicants of the Project Hydro Decentralization Ambassador Program (which started in May) were voted upon this week and 7 DAs were elected. Silent Notary, Ubikiri and IDL integrations were completed this week with Silent Notary now appearing in Applications section of Ubikiri. A roundup of the latest updates was published as well. Sentivate founder Thomas Marchi sat down for an interview with MineYourBiz Monday’s NrdGrl007. Mycro announced that Chaia.io will be hosting a campaign on the Mycro Hunter App soon. SelfKey’s Data Breach compendium was updated this week. And if you’re a Product Designer looking for remote work, don’t forget to check out this opening at SelfKey. What next for Constellation? Watch the Constellation Network State of The Union to find out. Their educational group Startdust Collective made a brand video and a high level explainer article on the HyperGraph Transport Protocol. Pynk is thinking about doing a global crowdfunding campaign as opposed to one that is restricted to certain countries only. In light of this, the Pynk Crowd Wisdom was put to work to find out the best way to go about this.
Results of the Project Hydro DA Elections
Wibson’s latest app update was covered by Cointelegraph and Europe World News. Click here to catch up on this week’s detailed work thread from the Harmony project. A recent Harmony ecosystem is the SmartStake dashboard to check staking stats. Sprout Wallet now supports core utilities of HRC20 tokens. The team sat down for an AMA with Binance India and KuCoin this week. Next week they will be doing another AMA with the larger Binance community. Some insights about the Harmony grants were shared in this week’s community call. Read up on Intellishare founder Raymond Xiong’s thoughts on DAOs which he shared as part of a speaker panel at the 2020 Digital Innovation Project Exchange Conference. The team also published a post on how they aim to solve the DeFi congestion. The TestNet is expected to arrive soon as well. After the latest livestream of DI-RECT’s concert which saw ~10k attendees, GET Protocol announced that they will be facilitating tickets to the follow-up show as well. A recap of the COTI journey was published to mark the one-year anniversary of the project and the occasion was celebrated with a fun trivia. DoYourTip community voted to have liquidity rewards for pooling $DYT on Uniswap.

And with that, it’s a wrap! See you again with another update. Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Best General RenVM Questions of April 2020

Best General RenVM Questions of April 2020
\These questions are sourced directly from Telegram*
Q: Quick question here, but any plan to bridge as well with the Tezos protocol? Using soon to be released Ren network could be a key advantage to be the first with a viable solution on their protocol. Plus Ren is indépendant of ETH (collateral speaking) making it interesting for other protocols.
A: Yes, this is very much possible. RenVM can work with any ‘destination chain’ that has smart contract functionality. We’ll be exploring others like Polkadot, Tezos, etc.. once it makes sense and we are happy with the Ethereum side of things.
Q: How many physical Darknodes will be in Greycore?
A: It depends on the final cohort, but it’ll be 15+ as each team will run a few Darknodes. Even the Greycore, our most “centralized” part of RenVM (at first) will be more decentralized than all competitors. Also, it is not so important the number of nodes as it is the number of members. More nodes = more architectural decentralization, but not more political decentralization. That is, more fault tolerance, but not more Byzantine fault tolerance.
Q: Once RenVM gets going, is there a way to measure cross-(on)chain volume?
A: We’ll be measuring any/all volume that flows through RenVM. This info will be available in the new Command Center (CC), GraphProtocol, etc.
Q: What is the reasoning for disabling auto-updates for Darknodes? Will operators get to choose if auto updates are allowed or not?
A: Auto updates of things that control funds is generally a bad idea. Someone could poison the repo you’re using for updates and you’d have no control. Further, disabling auto-updating means that governance is in the hands of the Darknodes, albeit in a very ad hoc way (excluding the smart contracts on Ethereum).
Q: I know you have addressed this before, but here’s a discussion about ren’s ability to mint renBTC being limited by its public market cap. I think the team is coming up with a way to have the Darknode capacity determined by Darknodes based on revenue rather than the price of ren right?
A: This design is one of RenVM's biggest comparative advantages over other designs. The value of REN (as calculated by Darknodes) and thus RenVM's capacity are directly tied to usage of RenVM. The more renBTC minted/burned, the greater Darknodes' revenues, the higher value of REN, the greater capacity to mint more. It's a positive feedback loop where increased usage increases capacity. To your question, the "3" in L<3 will be calculated by Darknodes strictly by revenues, not by a potentially manipulable oracle. Although this may be a soft cap in Zero and One with Greycore secondary sigs and continuous fees.
Conversely, tBTC's bond is overcollateralized by ETH, which is uncorrelated to usage of tBTC. Because the price of ETH does not increase with usage of tBTC, increased usage of tBTC will require more and more ETH to stay overcollateralized. As the article says, just 1% ($1.34B) of BTC's market cap ($134B) in tBTC would require $2.01B in bonded ETH, which is 10% of all ETH. 5% of BTC in tBTC, 56% of ETH.
A bond whose value is tied to usage of its own network allows capacity to scale linearly.
Further: Collateral is not the problem. Any technique that anyone uses to reduce collateral should be usable by any system doing interop. The real difference is that RenVM using its own token, so it is able to adjust its own economic parameters, and it does not need liquidation which we have seen fail as recently as last month.
-Use RenVM => REN worth more => higher cap => can use RenVM even more
-Use tBTC => ETH fluctuates independently => liquidations can occur => node operators get liquidated => can use tBTC less
RenVM is much more capital efficient in the long-term, regardless of the specific collateral ratios required. It also doesn’t expose Darknodes to ETH risk (and even renBTC holders, if renBTC could sometimes only be reclaimed for ETH not actual BTC, like it systems with liquidation).
Lastly, it has a bunch of practical defenses, like constantly shuffling its Darknode shards (instead of them sticking around for up to 6 months). And we have some nice UX features, like being able to move any amount of BTC at any time, straight into a smart contract call.
Q: https://preview.tbtc.network/cms/resource/tbtc-security-model/developers/tbtc-security-model/. At the end of the article Ren's security model is briefly discussed, is this correct?
A: For the record, that is an incorrect summary (either through not being sure how things works, or in an attempt to discredit our security model). RenVM is not a federated peg. Our shards are designed to have up to ~200 nodes in them. tBTC has three (3). Seems the latter is a lot closer to a federation than the former.
Q: So RenVM can run on Binance chain instead of Ethereum? Or what would be the advantage (or goal)? Pls eli5. A: RenVM doesn’t run on any chain; it is its own network. However, it has host chains which are chains to which it can send assets. For example, you can send BTC to Ethereum, and in this scenario Ethereum is the host chain (it is hosting a non-native asset). Supporting Binance Chain would imply that RenVM can use it as another host chain.
Q: If another host chain is implemented, would cross-host chain transactions be possible without doing any transactions with the token. Like: Bitcoin -> renBTC_ETH -> renBTC_BNB
Without an intermediate step, and without paying Bitcoin transactions on the Bitcoin network. Unlike: Bitcoin -> renBTC_ETH -> Bitcoin -> renBTC_BNB
A: Yep. A burn event would be generated on one host chain, and RenVM would produce a minting signature for the other host chain. No BTC moves on the Bitcoin chain, so no Bitcoin fees would be required. RenVM would still take a fee though.
Q: Reading about sharding in the docs: it mentions load balancing. Would that be done on a monthly basis as the changeover in keys is done?
A: At minimum, once per epoch.
Q: I'm sure there were discussions about this before but I can't find anything on it. Is there a possibility where assets in custody in REN network could be greater than 1/3 of value of REN tokens and have the network still be secure? Or is this a big no no that the network will have to do everything for the 1/3 threshold not be crossed ?
A: It’s not a big no no, it is still well collateralized at that point. However, it is a no no. 1/3rd is the limit above which an attack becomes theoretically profitable. It is still not practically profitable at that stage, and is also very difficult to actually pull off such an attack. So RenVM must aim to keep under 1/3rd, but if that threshold is crossed nothing bad happens immediately (this gives some time for fee adjustments that should have already been put in place by this point to kick in).
We’re also looking at some proposals internally around how to recover the peg even if an attack does succeed (because 1/3rd is crossed by enough, and for long enough, that a profitable attack succeeds, or because an irrational attacker has decided to attack without the want for profit).
That’s correct. We class these actors as “irrational adversaries”. This is an attacker that doesn’t care about the profitability as modelled by the protocol. It’s important to be able to resist such adversaries because, as you point out, there are adversaries that can achieve be profit from RenVM in a way that cannot be feasibly modelled.
Q: How many hours can my VPS be down before it's Deregistered (not shalshed)?
A: 12 hours. We’ll use Mainnet Subzero to establish parameters and change the thresholds if needed.
Q: Which VPS provider (for Darknodes) is next?
A: Azure is the next one on our list of VPS’s to support.
submitted by RENProtocol to RenProject [link] [comments]

r/Bitcoin recap - June 2019

Hi Bitcoiners!
I’m back with the 30th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in May 2019
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

Bitcoin may NEVER return to previous heights, and a lot of you are worrying me.

I see a lot of people excited about cryptocurrency buying into these low prices. This is a generally good strategy, but I would posit this is not a good strategy for Bitcoin. Bitcoin is an asset we really don't understand. Further, it's not the only asset of its kind, and MOST IMPORTANTLY, there are FAR better alternatives already in existence.
Trying to dollar cost average on Bitcoin could very well end up with you not only trying to catch a falling knife, but repeatedly stabbing yourself in the foot with it while several of us around you happened to put our money in newer technology.
All I'm trying to say with this post is this:
This could very well be the beginning of a major move away from "silly" money (pouring billions into Bitcoin, something that is worth what it is ONLY because it was the first, and for literally no other reason), and very much so a move towards investing in projects with better technology. If this is the case, which I suspect it could be, those of you deciding to hold onto Bitcoin could have an extremely unpleasant outcome.
Edit: People calling me an idiot, asking if I'm being sarcastic. I'm truly not. If you haven't looked into the many interesting projects happening in this area as we speak, I suggest you do so. If you think that Bitcoin adds a value proposition that none of the other "coins" can offer, please enlighten me.
Edit2: I'm a computer science guy who enjoys graph theory and cryptography; I actually read the whitepapers most of you gloss over. I'm not saying this as a "Bitcoin hater", but rather as a technology and theory enthusiast within the space.
Edit3: BILLIONS of dollars are being sucked out of the market as we speak. The market cap is currently only at 300 billion dollars. It was over 800 billion at one point. The cryptocurrency space is vastly different than it was one year ago. When this money re-enters the market, it may not be in a similar manner as of last time.
Edit4: Market cap is not a 1-to-1 pairing with actual invested fiat. Market cap = price of coin * shares in existence. I should have clarified further, that not only is the market cap rapidly dropping, but if you look at the past few days, billions of dollars are being removed from the market as we speak.
Edit5: I've had to comment in response to many mentions of the price correlation issue. I would expect that the introduction of more fiat/crypto pairs will lead to a reduction in price correlation to Bitcoin. Most alternatives are only available through non-standard means, and so one must go through bitcoin, ethereum, litecoin, or bitcoin cash (Coinbase availabilities) to get coins offered on binance or other crypto only exchanges. This is one of my biggest concerns in cryptocurrency at the moment.
submitted by theoneandonlypatriot to CryptoCurrency [link] [comments]

Google's search for Bitcoin Coronavirus overtake Bitcoin halving 2020

Halving bitcoin is a short-term trend due to hyped feelings. Google trend data and price reactions suggest that halving could be an overly hyped incident. In addition, the interest in "Bitcoin Coronavirus" has halved given the safe perspective.
The five-year graph of Google trends and price trends indicate that the mood and online search peakedduring the halving (July 9, 2016) and fell almost instantly over the next few weeks. In addition, the price had taken a downward turn weeks before halving.
Coincidentally, the small increase in the trend before the moon shot rise coincides with the price peak. Therefore, after a certain point, there was an inverse correlation between online sentiments and price
The "Google trend" for the keyword "Bitcoin halving" appears to be falling again, indicating that the bull run may be priced in in half.
If we look at the top five capitalized altcoins - Ethereum, Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and Bitcoin SV (BSV) - we see that the volume of search traffic largely matches the order of each crypto correlates assets by market cap - with the exception of “Litecoin”, which has more searches than “Bitcoin Cash”.
One of the biggest barriers to entry for disruptive technology is the incompetence of the average consumer. On the other hand, simply chasing consumer illiteracy can be a blessing for some really terrible inventions. In the clash of these two ideologies, we have reached the dumb currency singularity.
The digital currency has been on the way to dumb singularity for more than a decade, and we finally crossed the event horizon at the end of last year. At the end of 2019, the IRS tacitly published a series of guidelines for virtual currencies, in which common cryptocurrencies such as Bitcoin and Ethereum were combined with Fortnite V-Bucks and Roblox Money.
I have just been informed that the legal term for the Roblox currency is "Robux". That seems ... fair.
My point, however cumbersome, is that someone who has had some influence with the United States Internal Revenue Service saw his grandchild begging for a Roblox card at the Walgreens cash register and thought, "MY GOD, THE BITCOINS COME FOR THE CHILDREN. " And then, when he expressed his horror, a phalanx of IRS colleagues looked around enough and thought "Yes, that sounds right" that it was lit green for public consumption.
This recommendation (on which the IRS claimed that Fortnite and Roblox players should report all purchases of "Bucks", be it "V" or "Ro" -) was monolithic for almost three months before being as quiet as off the stage was escorted it had arrived. In a bout of Streisand, this change attracted more attention than the addition initially, and the IRS made a formal statement. "The IRS recognizes that the language on our side may be of concern to some taxpayers," they said. "We changed the language to avoid confusion. Transactions in virtual currencies as part of a game that does not leave the game environment (virtual currencies that are not convertible) do not require a taxpayer to state this in their tax returns." "
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Harmony One

Harmony Protocol
What is Harmony?
Harmony is a sharded blockchain, similar to Ethereum 2.0, but with several differences e.g. randomness algorithm, consensus mechanism and etc. Currently, Harmony mainnet contains 4 shards and a total of 1,000 validator nodes. Out of the 1,000 nodes, 680 of them are operated by Harmony team and 320 of them are operated by external validators including our foundational node runners.
The 4 shards are indexed with 0, 1, 2, 3 respectively and shard 0 is the beacon chain. Right now, the nodes in shard 1, 2, and 3 are synchronizing and maintaining an updated copy of shard 0 (beacon chain) in preparation for the upcoming features such as cross-link verification and staking.
Reference: https://nodes.harmony.one/harmony-overview/mainnet
Why sharding is key?
To solve the scalability problem without sacrificing security and decentralisation.
“Given Ethereum and Bitcoin’s performance limitations, many blockchain projects proposed various solutions that attempt to increase transaction throughput. Various blockchains proposed to replace Proof-of-Work (PoW) consensus with Proof-of-Stake (PoS) consensus. Other blockchains like EOS use Delegated Proof of Stake (DPoS), where block proposers are elected by voting rather than by an on-chain algorithmic process. Projects like IOTA replaced the chain-of-blocks data structure with a DAG (Directed Acyclic Graph) data structure, which breaks the limitation of sequential processing of transactions.
However, these proposed solutions cannot make significant performance gains without sacrificing other critical aspects, such as security and decentralization. The scalability solution that both preserves security and decentralization is sharding, which creates multiple groups (i.e. shards) of validators and lets them process transactions concurrently. As a result, the total transaction throughput increases linearly as the number of shards grows”
Reference: https://harmony.one/whitepaper.pdf
Current status?
Mainnet with 4 shards launched in June 2019
Mainnet token swap with exchanges ongoing
Open staking on testnet
Reference: https://medium.com/harmony-one/harmony-milestones-2020-1-highlights-and-lowlights-36dea37a271b
Competitors?
Ethereum
Eth 2.0 Phase 0: Launch of Beacon chain for POS with no smart contract functionalities (expected 30 July 2020)
Eth 2.0 Phase 1: Launch of shard chains with verifiable delay functions (unknown timeline)
Eth 2.0 Phase 2: eWASM new Ethereum virtual machine for sharded blockchain (unknown timeline)
Eth 2.0 Phase 3: Continued improvement e.g. cross-shard transactions, light-weight clients, super-square charting and closer ties (unknown timeline)
Optimistically speaking, you can probably get the official launch of phase 1 by mid/end of Year 2021.
Reference: https://www.bitcoinsuisse.com/outlook/ethereum-and-its-transition-to-ethereum-2/
Reference: https://medium.com/swlh/a-comprehensive-view-of-ethereum-2-0-serenity-5865ad8b7c62
Reference: https://docs.ethhub.io/otheethereum-2.0-ama/
Other competitors like Elrond and Multivac still do not have their full mainnet launch with their own blockchain tokens.
Technical analysis?
Satoshi level remains consistent at 60+ sat level. Accumulation at this level for already close to 7 weeks. Lowest low is around 52 sat. No pump yet as it is largely neglected while other coins are pumping massively.
Token details
Current Market cap (CMC): $30m
Current price: 0.006048 (around 1.9x from IEO)
IEO price: 1 ONE = 0.003175 USD
Current supply: 4,977,696,588 (see link below)
Unlock schedule:
https://docs.google.com/spreadsheets/d/143qpsVaezh9sY_pDhNK-cffwgEdRojWa38-rqBwKI7c/edit
Max supply: 12,600,000,000
Assume fully diluted market cap (DMC): $76m (12,600,000,000 x 0.006048)
My target market cap: $300m (to match platforms like Qtum, ICX, vechain) (10x from current CMC) (4 x from DMC). Key catalyst that may propel token price to this market cap would be (speculative):
  1. Binance’s strong support for its IEO. Highly likely that Binance would want to shill its successful IEO when open staking is ready (especially it is the first platform with network, transaction and state sharding)
  2. Partnerships (both in SF and China) and Defi projects
Conclusion
Sharded blockchain is complex and no project has managed to implement network, transaction and state sharding. Harmony will be the first working sharded blockchain to do so as compared to the unknown timeline for Eth 2.0 Phase 1.
Harmony is a team of infrastructure engineers in Silicon Valley, now with 4 PhD’s, 8 ex-Google/Amazon/Apple/Facebook, 2 Harvard MBAs, and Stanford/Berkeley AI graduates (reference: https://medium.com/harmony-one/welcome-9-new-harmonauts-to-team-24d71ee8d79b). I believe they have the experience, brains and technical competency to roll out the sharded blockhain.
As mentioned by one community member, “The advanced test beds leading the way before the established chains, this will attract more developers, interest and investment.”
With its first-mover advantage, I am excited to see how this platform will influence the adoption of blockchain technology by other companies.
Disclaimer: I did not take participate in the IEO. Recently bought a small amount at 60 sat. Never invest money that you cannot afford to lose.
submitted by cryptonews123 to u/cryptonews123 [link] [comments]

7 useful services for a novice cryptotrader

7 useful services for a novice cryptotrader


Cryptocurrencies became widely popular in 2017, which prompted developers to create useful services that help newcomers get used to the crypto market and facilitate cryptocurrency trading. Here is a list of 7 useful services for novice crypto traders.

Trade-mate.io

Automated trading service. The service allows you to trade cryptocurrencies on different exchanges via API in one convenient cabinet. Binance, BitMEX and Poloniex exchanges are currently available. The following features are available to users::
  • Smart Trade that supports trailing mechanisms. This function allows you to set trailing take-profits and stop-losses at the same time.
  • Autotrade - this function is used for copying trades of other traders and trading bots.
  • Panic sell button, which is used to quickly close all positions at the current market price.
Trade-Mate.ioallows you to track the dynamics of your cryptocurrency portfolio and displays detailed statistics on it.

Tradingview

The largest service that provides charts for large crypto exchanges and allows you to track the dynamics of cryptocurrency rates on multiple exchanges. TV charts contain a wide range of trading tools and settings for analyzing the crypto market.
On the site you can find a large number of forecasts for the crypto market, Analytics, expert advice, information on technical indicators, and more.

Bitcointalk

The largest forum about bitcoin and cryptocurrencies. It publishes up-to-date information on cryptocurrency services, exchanges, as well as announcements and reviews of recent projects that are released before they appear in the media.

Coindar

The service is a crypto calendar that provides an up-to-date list of events for all liquid cryptocurrencies. The list can be filtered by various parameters and cryptocurrencies. Coindar provides graphs that mark events, which allows you to analyze their impact on cryptocurrency prices.

CoinMarketCap

A service that displays the dynamics of the crypto market. The site provides information about the capitalization, the level of bitcoin dominance, trading volumes on the markets and price changes for different periods.
It is recommended to trade only those coins that are in the CMC list. Other coins are not of interest to traders and it is best to avoid them.

ICOBench

A large service that provides a list of popular ICO projects. The site provides an expert rating of the project and an analysis of its work, which allows you to track new promising cryptocurrencies that will soon enter the market, and buy them at a low price.

Forklog

A popular cryptocurrency news aggregator. The site constantly publishes current news of the cryptosphere, as well as a calendar with events, forecasts and training materials for beginners.
submitted by mrhadow to matetrade [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

Pump&Dump in crypto: how it works and is it possible to make money on it

Pump&Dump in crypto: how it works and is it possible to make money on it

https://preview.redd.it/73uqc14wnwb41.png?width=1000&format=png&auto=webp&s=fd27392dcd71409e7a946c369dbbe318e7a61c00
Pump and dump is a common method of price manipulation on the crypto market, which has existed since the birth of exchanges and trading. The scheme involves artificially inflating the exchange rate of an asset in order to attract new buyers, after which the asset is rapidly sold, leaving in the red traders who bought the asset at the peak of value.

How to determine that you're dealing with Pump & Dump

The first sign is a sharp and unjustified increase in the cryptocurrency price. After such an active growth, most likely, there will be a strong fall, which will return the rate to the previous mark, i.e. before the pump, or close to it. Usually low-liquidity coins that are not included in the top 20 list of CoinMarketCap are pumped.
But it also happens that there are fundamental prerequisites for pump - hot news, major updates or positive decisions of the regulatory authorities. Or when buyers decide that now is a favorable rate to buy for the long term and it is profitable to ”demolish" shortists' orders.
This is what the standard Pump & Dump diagram looks like.

https://preview.redd.it/2j693efynwb41.png?width=665&format=png&auto=webp&s=83f178cbdd40cf7c40a1c3974e17f83f8505740f
And this figure illustrates the recent “rise” of bitcoin. The price after the pump phase went flat and kept at the same level, although there were no objective fundamental prerequisites for buying.

https://preview.redd.it/on5nd4c0owb41.png?width=675&format=png&auto=webp&s=5de9f93ce020e414facb7ec2e0e14a3b92f971f4

How to make money on crypto pump&dump

You can make a profit only when you notice the prerequisites for the pump in time. Buying cryptocurrency after a rapid rise in price is extremely risky and there is a high probability of losing money.
It is impossible to know about it in advance if you are not familiar with the organizers of the scheme. You can predict the pump if you notice an increase in trading volumes that usually precede it - so called Pre-Pump. Profits depend on how strong the effect will the pump produce. If buyers are inactive, the organizers will quickly get rid of the cryptocurrency and bring down the rate in a matter of seconds. But there are longer living pumps - continuing for hours or days.
Pampas are often held on exchanges such as Binance, BitMEX and Poloniex. In order to protect yourself when the cryptocurrency rate falls, you have to set stop losses. And advanced Smart Trade trailing mechanisms on the Trade-mate.io service will help you get the maximum profit during the pump, while insuring traders from the risks of a sharp price drop.

Another little insight

Usually, the coins are pumped repeatedly, so you can note the imminent approach of the pump with an increase in trading activity of the coin.
The figure below shows a graph of the classic pumping coin - Maximaine Coin.

https://preview.redd.it/8uzz6gr2owb41.png?width=705&format=png&auto=webp&s=3ee7a1b766ccc3a8ca5a8afdc1bbc10da2a50e00
submitted by mrhadow to matetrade [link] [comments]

Atomic Wallet Coin is SHOCKINGLY Undervalued ~750k Market Cap


Hey, /cryptomoonshots! Its my first post here (woo!)

I’ve been lucky enough to have found QNT and LTO from this subreddit. I’ve found a third project that looks extremely interesting and I’d like to share my research here. My background is in digital marketing and this project stood out to me, especially from a marketing and biz dev perspective, which I’ll share below.

Feel free to correct the record if I’ve posted anything incorrect and I will update it (I’m a human being, I make mistakes, okay!) Additionally, the CEO is constantly answering questions on Telegram!

The project is Atomic Wallet Coin. $AWC



TL;DR IS AT THE BOTTOM. ALWAYS DYOR. NOT FINANCIAL ADVICE.

WHAT IS ATOMIC WALLET?

Atomic Wallet is a non custodial crypto wallet for desktop and mobile. Users can exchange and buy 300+ cryptocurrencies from a single interface. The wallet can perform cross-chain atomic swaps.

It’s an exchange built into a wallet.

Shapeshift and Changelly are partnered with Atomic to add additional currency swap pairs + fair rates. Fiat/crypto gateway is supported directly through the app.

Atomic has over 40,000 monthly active users and boasts 150k+ downloads.

The project is one of the first to migrate over to Binance chain. They are currently in the process of getting listed on Binance DEX. Half of their supply will remain ERC-20 and the other half migrated to BEP-2.
https://twitter.com/cz_binance/status/1119047237076541440
https://twitter.com/atomicwallet/status/1119242545706434560
https://github.com/Atomicwallet
http://atomicwallet.io

20 FULL TIME EMPLOYEES AND CEO WITH PREVIOUS TRACK RECORD

Konstantin Gladych self funded Atomic Wallet with his own funds. He previously was the CEO and co-founder of Changelly, a fully compliant crypto exchange service which has been around since 2013 and has serviced over 2 million users across the world.

“Changelly's trading algorithms are integrated into large and reputable trading platforms, such as Binance, Bittrex, Poloniex and HitBTC” - Wikipedia

Konstantin holds a PhD in data science/machine learning and left his CEO position at Changelly to develop Atomic Wallet full time.

The team currently consists of 20 full-time employees - 6 developers, 7 support and community managers, 6 marketing and business development, and 1 designer.

https://linkedin.com/in/gladkos
https://en.wikipedia.org/wiki/Changelly
https://www.crunchbase.com/person/konstantin-gladych
https://community.binance.org/t/proposal-for-listing-atomic-wallet-token-awc-on-binance-dex/2093

APPROVED WALLET BY NEO FOUNDATION, ZCASH, GEMINI, LISK, AND OTHERS

Atomic Wallet is trusted by many household names in crypto. This does NOT mean Atomic is “partnered” with these companies, however it adds massive credibility to AWC considering they trust it enough to add it as a recommended wallet on their websites.

Take a look for yourself:

https://neo.org/client
https://z.cash/upgrade/sapling/
https://gemini.com/dolla
https://twitter.com/LiskHQ/status/1121357080173133824

95,000+ UNIQUE VISITORS PER MONTH TO ATOMICWALLET.IO


traffic statistics for atomicwallet.io [pic]

Atomic Wallet has an A+ marketing team.

Here’s a quick snapshot of how well atomicwallet.io is performing (see above). They’ve gone from 0 to 95k unique visitors per month in well under one year. Purely from Google search traffic. This doesn’t include traffic from Twitter, Facebook, and other sources. It also was during the worst bear market in crypto history, when these search terms would be at a low.

Let’s see how Atomic Wallet measures up against some well-known sites:

myetherwallet.com 802k/mo
Ripple.com 580k/mo
Ledger.com 401k/mo
Exodus.io 172k/mo
Coinmama.com 165k/mo
Shapeshift.io 149k/mo
Electrum.org 125k/mo
Atomicwallet.io 95k/mo
Freewallet.org 70.9k/mo
Trustwallet.com (Binance owned) 24k/mo

Atomic Wallet has virtually caught up to or exceeded many of it’s competitors in terms of traffic in well under a year. Turning this traffic into downloads/new users is child’s play. It’s one of the reasons this company with 20+ employees is already profitable in just a few short months.

So, how is this site getting so many visitors?

Here are a few search terms that Atomicwallet.io ranks on page 1 for on Google.

Open up a new tab, visit Google.com and see for yourself!

“EOS wallet”
“ETH wallet”
“BNB wallet”
“Buy Bitcoin”
“Ethereum wallet”
“XRP wallet”
“Ripple wallet”
“DASH wallet”

+27,100+ additional search terms that bring in a total of 94,700 visitors per month. Purely. from. Google. Search.

traffic statistics for atomicwallet.io [pic]

$AWC TOKENOMICS

Atomic’s website does a thorough job of explaining the tokenomic details of the $AWC coin. The tokenomics mirror the standard use-cases you would expect from an exchange token (Bibox, KCS, etc.) The CEO recently expressed his interest in adding staking rewards for AWC holders. He is also exploring the idea of having IEO-type listings for Atomic Wallet users/holders in the future. New projects could theoretically debut directly on their platform and be traded against $AWC, similar to how Bitmax runs IEOs.

Currently, 90% of the circulating supply is locked up and Konstantin has announced his intention to buy back and burn tokens with company profits.

Here are a few of the use cases for $AWC:

The team is looking to make $AWC directly tradeable from the app in the future.

With thousands of new Atomic Wallet users per month, this is an incredibly exciting feature.

https://atomicwallet.io/token

FINAL THOUGHTS

Atomic Wallet will grow to an active user base in the millions. Every crypto holder needs a wallet. Atomic provides a user-friendly wallet for newbies getting their feet wet in crypto. Most newbs aren’t going out and buying a LedgeTrezor right away. Building an exchange directly into the wallet provides a safe and easy way to trade crypto assets.

The number of cryptocurrency users and addresses are growing exponentially. Atomic wallet was created during the bear market. They are perfectly positioned to take a massive share of the increasingly competitive crypto wallet market during a bull market/alt coin season.

In my opinion, they’re on track to be the #1 desktop/mobile multi-crypto wallet.

As someone who is experienced in search engine/digital marketing, these guys have an ace marketing team. Even beating or ranking just below Coinbase for many competitive Google search terms in just a few short months.

I have zero doubts that they will blow past every single one of their roadmap goals, especially as Bitcoin continues to climb in value and more people start buying crypto.

Despite short term fluctuations in price, Atomic will continue to onboard thousands of new users every single month. The traffic numbers don’t lie. The Google search rankings don’t lie. Atomic will need to be wise about how they monetize this traffic.

The company is already profitable. The CEO is well connected and has proved he is highly competent in creating and successfully running a crypto exchange.

I have a lot more info to share about this project if there is interest, I’ll post a part 2 or a follow-up in the comments.

A profitable company of this caliber with 20 full-time employees isn’t justified at a ~$750k market cap.

https://atomicwallet.io/roadmap-for-2019
https://medium.com/@mccannatron/12-graphs-that-show-just-how-early-the-cryptocurrency-market-is-653a4b8b2720

ADDITIONAL LINKS AND FURTHER READING

  1. https://atomicwallet.io/
  2. https://twitter.com/atomicwallet
  3. https://t.me/atomicwalletchat
  4. https://github.com/Atomicwallet
  5. https://www.coinbureau.com/review/atomic-wallet/
  6. https://community.binance.org/t/proposal-for-listing-atomic-wallet-token-awc-on-binance-dex/2093

TL;DR


Currently at 750k market cap

2.7MM market cap is a 3.6x from here.
5M market cap is a 6.6x from here.
8MM market cap is a 10.6x from here.

DYOR.

submitted by key_mnk_ to CryptoMoonShots [link] [comments]

Beginner’s Guide to BitMEX

Beginner’s Guide to BitMEX

https://preview.redd.it/fl5e0q7i3cc41.jpg?width=1024&format=pjpg&auto=webp&s=445485d722839a9adc1ae13db4c965b0ae3e67b7
Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating around the world and registered in the Seychelles.
Meaning Bitcoin Mercantile Exchange, BitMEX is one of the largest Bitcoin trading platforms currently operating, with a daily trading volume of over 35,000 BTC and over 540,000 accesses monthly and a trading history of over $34 billion worth of Bitcoin since its inception.

https://preview.redd.it/coenpm4k3cc41.jpg?width=808&format=pjpg&auto=webp&s=8832dcafa5bd615b511bbeb6118ef43d73ed785e
Unlike many other trading exchanges, BitMEX only accepts deposits through Bitcoin, which can then be used to purchase a variety of other cryptocurrencies. BitMEX specialises in sophisticated financial operations such as margin trading, which is trading with leverage. Like many of the exchanges that operate through cryptocurrencies, BitMEX is currently unregulated in any jurisdiction.
Visit BitMEX

How to Sign Up to BitMEX

In order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up.
https://preview.redd.it/0v13qoil3cc41.jpg?width=808&format=pjpg&auto=webp&s=e6134bc089c4e352dce10d754dc84ff11a4c7994
However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework.
How to Use BitMEX
BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s.
Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath.
Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long.
The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors.
https://preview.redd.it/fabg1nxo3cc41.jpg?width=808&format=pjpg&auto=webp&s=6d939889c3eac15ab1e78ec37a8ccd13fc5e0573
Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red.
BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed.
Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible.
BitMEX offers a variety of order types for users:
  • Limit Order (the order is fulfilled if the given price is achieved);
  • Market Order (the order is executed at current market price);
  • Stop Limit Order (like a stop order, but allows users to set the price of the Order once the Stop Price is triggered);
  • Stop Market Order (this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger);
  • Trailing Stop Order (it is similar to a Stop Market order, but here users set a trailing value that is used to place the market order);
  • Take Profit Limit Order (this can be used, similarly to a Stop Order, to set a target price on a position. In this case, it is in respect of making gains, rather than cutting losses);
  • Take Profit Market Order (same as the previous type, but in this case, the order triggered will be a market order, and not a limit one)
The exchange offers margin trading in all of the cryptocurrencies displayed on the website. It also offers to trade with futures and derivatives – swaps.

Futures and Swaps

A futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts.
Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price.
BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event.
The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.

Bitmex Leverage

BitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.”
There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution.
https://preview.redd.it/eg4qk9qr3cc41.jpg?width=808&format=pjpg&auto=webp&s=c3ca8cdf654330ce53e8138d774e72155acf0e7e
The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.

BitMEX Fees

For traditional futures trading, BitMEX has a straightforward fee schedule. As noted, in terms of leverage offered, BitMEX offers up to 100% leverage, with the amount off leverage varying from product to product.
However, it should be noted that trading at the highest leverages is sophisticated and is intended for professional investors that are familiar with speculative trading. The fees and leverage are as follows:
https://preview.redd.it/wvhiepht3cc41.jpg?width=730&format=pjpg&auto=webp&s=0617eb894c13d3870211a01d51af98561907cb99

https://preview.redd.it/qhi8izcu3cc41.jpg?width=730&format=pjpg&auto=webp&s=09da4efe1de4214b0b5b9c7501aba5320e846b4c
However, there are additional fees for hidden / iceberg orders. A hidden order pays the taker fee until the entire hidden quantity is completely executed. Then, the order will become normal, and the user will receive the maker rebate for the non-hidden amount.

Deposits and Withdrawals

BitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks.
As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin.
The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer.
https://preview.redd.it/xj1kbuew3cc41.jpg?width=808&format=pjpg&auto=webp&s=68056f2247001c63e89c880cfbb75b2f3616e8fe
Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.

Supported Currencies

BitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC).
BitMEX supports the following cryptocurrencies:
  • Bitcoin (XBT)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple Token (XRP)
  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Cardano (ADA)
  • Tron (TRX)
  • EOS Token (EOS)
BitMEX also offers leverage options on the following coins:
  • 5x: Zcash (ZEC)
  • 20x : Ripple (XRP),Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Tron (TRX)
  • 25x: Monero (XMR)
  • 33x: Litecoin (LTC)
  • 50x: Ethereum (ETH)
  • 100x: Bitcoin (XBT), Bitcoin / Yen (XBJ), Bitcoin / Yuan (XBC)

Trading Technologies International Partnership

HDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider.
The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing.
https://preview.redd.it/qcqunaby3cc41.png?width=672&format=png&auto=webp&s=b77b45ac2b44a9af30a4985e3d9dbafc9bbdb77c

The BitMEX Insurance Fund

The ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners.
Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders.
In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners.
To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low.
Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero.
In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market.
This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin.
https://preview.redd.it/wel3rka04cc41.png?width=669&format=png&auto=webp&s=3f93dac2d3b40aa842d281384113d2e26f25947e
Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth.
The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits.
Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral
https://preview.redd.it/is89ep924cc41.png?width=699&format=png&auto=webp&s=f0419c68fe88703e594c121b5b742c963c7e2229
(Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.)
The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits.
This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up.
Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral
https://preview.redd.it/vb4mj3n54cc41.png?width=707&format=png&auto=webp&s=0c63b7c99ae1c114d8e3b947fb490e9144dfe61b
(Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.)
The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time).
This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
  • BitMEX does not have clearing members with large balance sheets and traders are directly exposed to each other.
  • BitMEX does not demand payments from traders with negative account balances.
  • The underlying instruments on BitMEX are more volatile than the more traditional instruments available on CME.
Therefore, with the insurance fund remaining capitalized, the system effectively with participants who get liquidated paying for liquidations, or a losers pay for losers mechanism.
This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market.
More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms.
Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.

How suitable is BitMEX for Beginners?

BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants).
This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
  • **Trade:**The trading dashboard of BitMEX. This tab allows you to select your preferred trading instrument, and choose leverage, as well as place and cancel orders. You can also see your position information and view key information in the contract details.
  • **Account:**Here, all your account information is displayed including available Bitcoin margin balances, deposits and withdrawals, and trade history.
  • **Contracts:**This tab covers further instrument information including funding history, contract sizes; leverage offered expiry, underlying reference Price Index data, and other key features.
  • **References:**This resource centre allows you to learn about futures, perpetual contracts, position marking, and liquidation.
  • **API:**From here you can set up an API connection with BitMEX, and utilize the REST API and WebSocket API.
BitMEX also employs 24/7 customer support and the team can also be contacted on their Twitter and Reddit accounts.
In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab.
For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community.
Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange.
This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders.
Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.

Is BitMEX Safe?

BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.
https://preview.redd.it/t04qs3484cc41.jpg?width=808&format=pjpg&auto=webp&s=a3b106cbc9116713dcdd5e908c00b555fd704ee6
In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex.
They have email notifications, and PGP encryption is used for all communication.
The exchange hasn’t been hacked in the past.

How Secure is the platform?

As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels.
Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts.
Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section.
The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal.
All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users.
With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds.
Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.

BitMEX Customer Support

The trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses.
https://preview.redd.it/8k81zl0a4cc41.jpg?width=808&format=pjpg&auto=webp&s=e30e5b7ca93d2931f49e2dc84025f2fda386eab1
The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance.
BitMEX also offers trading guides which can be accessed here

Conclusion

There would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue.
BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website.
However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides.
Visit BitMEX
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