Thursday, 30 November 2017
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Bank of Canada Paper Weighs Central Bank-Issued Cryptocurrency
Developed and developing economies would see different benefits if their central banks issued a cryptocurrency.
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Bitfinex and Tether Break Silence, Go on Media Offensive
One of the world's largest bitcoin exchanges is pushing back against allegations its business is engaging in improper market practices.
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Bitcoin Pauses Below Record Peak; Gained 55 Percent in November
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Coinbase down, Bittrex down, Gdax down. Where to buy Bitcoin?
If you want to buy Bitcoin fast you won't get what you need at places like Coinbase. Even if you manage to register at the website with all their downtime, your account will be locked without an ID (see Coinbase review). After you send your ID to a centralized exchange you can take a vacation. Thousands ...
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Chain.group Reviews: SCAM or LEGIT?
Chain.Group There are many trading groups with many investment offers. Investment offer: Minimum: $10. Maximum: $1,000,000. Deposit term: 100-500 days. Daily profit: 0.2% - 10% What is the minimum amount to withdraw? 0.001 BTC for withdraw to Bitcoin 0.01 ETH for withdraw to Ethereum
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Bitcoin Pauses Below Record Peak; Gained 55 Percent in November
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Antminer D3 Review – Dash ASIC X11 Miner
The Crypto Show Live From Mexico City With Jose Rodriguez Of Bitso
On tonight's episode of "The Crypto Show," Danny has finally made it to Mexico City, although sans his RV because of bureaucratic issues. He and Jose Rodriguez of Bitso join us from Danny's hotel room to talk about the earthquake relief efforts that are planned, including visiting orphanages to help out children, who are often the worst-affected by such natural disasters. We also talk about the ongoing Bitso saga of finding a new office since their building was destroyed in the earthquake. In between some connection issues, we also discuss the upcoming Bitcoin Latin American Conference, as well as the Dash conference in Caracas, Venezuela, that Danny will be attending. I also ramble here and there when it's just me on the line.
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Bitcoin Is an Emerging Systemic Risk
The bubble in cryptocurrency threatens the broader financial system, given new buyers’ different motivations from early adopters and use of leverage.
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Fed Vice Chair: Cryptocurrencies Threaten Financial Stability
Decentralized currencies could have "spillover effects" on the wider financial system if they get too big, Fed supervision chief Randal Quarles said.
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Markets Pass Another Milestone, as Investors Remain Fearless
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ICE Agent: Cryptocurrencies Increasingly Used in Money Laundering
A U.S. Immigration and Customs Enforcement agent mentions mixing services at exchanges and anonymity-enhancing currencies in Senate testimony.
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OKEX Exchange Reviews, Live Markets, Guides, Bitcoin charts
OKEX is multi-cryptocurrency exchange allowing users to trade cryptos and fiat-backed tokens. OKEX also provides digital asset based futures with multiple leverage choices. OKEX has also built a suite of algorithmic trading tools designed for the professional traders. Additional products include a wallet ...
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Is CryptoRobo A Scam? 5 Reasons To Avoid It! [Review]
There is a lot of money to be made out there by investing in Bitcoin and other Cryptocurrencies; however, If you want to make that type of money you'll have to invest a whole lot more. If you are someone who is new to investing in Bitcoin, then I suggest you read this review all the way through. There are ...
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Bitcoin Price Analysis: A Potential Correction Could Be Coming
The market is swinging to more and more aggressive highs as bitcoin has traversed down the length of the macro, parabolic bull market. In a very rare event, bitcoin actually managed to break the upper parabolic curve and squeeze out a new all-time high in the upper $11,000s:
Figure 1: BTC-USD, 1-Day Candles, Macro Parabolic Trend
Although bitcoin broke the parabolic trend on the smaller timescales, the chart above shows that bitcoin is still being governed by the parabolic resistance — an outlier in an otherwise parabolic trend. Something very important to note about the parabolic breakout is the amount of volume on the move: It was the highest volume seen at top of a trend in the last two years — it’s continuing to increase.
Figure 2: BTC-USD, 1-Day Candles, Zoomed-in View of Macro Trend
Taking a closer look at the daily candles near the edge of the upper parabolic curve, we see a textbook reversal candle called a “Reversal Doji” (often just called “Doji”). This is a point where volume is high but overall price movement is low. Thus, supply is approximately equal to demand and it poises the market for a potential reversal. Although the current daily candle is still forming, it’s showing an increase in supply (downward price movement) and the volume is continuing to grow as the day moves on.
Figure 3: BTC-USD, 1-Week Candles, Macro Parabolic Trend
And so the story goes on the weekly candles. Sitting at the top of our 2.5 year bull market, a reversal candle is in the process of being formed. Thus, the higher timescales are indicating a balance of supply and demand and offering an opportunity to the market for a reversal. It should be noted that the current weekly candle still has a couple more days left on it and is in the process of forming. For those playing the macro markets, keep a close eye on this candle as it will give hints as to the likely direction of the market in the coming weeks/months.
On a macro scale, support lies on the linear and parabolic trendlines shown in Figure 1 and are likely to alleviate any potential downward movement in the coming days and weeks. As with any market setup or potential trend reversal, wait for confirmation of candle closes before acting and expect the unexpected.
Summary:
-
Bitcoin managed to establish another new all-time high in the upper $11,000s.
-
As of the time of this article, the parabolic envelope is providing solid resistance while the market tries to find solid support.
-
Macro time frames are beginning to show signs of supply dominating the market. Should the market continue to pull back further, support can be found on the parabolic and linear trendlines outlined in Figure 1.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The post Bitcoin Price Analysis: A Potential Correction Could Be Coming appeared first on Bitcoin Magazine.
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Global Crypto Academy – Bitcoin Cryptocurrency Learning Center?
The cryptocurrency market is currently experiencing rapid growth, with the price of Bitcoin- the most valuable cryptocurrency- currently worth around $10,000 USD. As a result of this rapid spike in value, adoption rates have never been higher. New investors are entering the market and getting on board ...
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Almost Half of ICO Funding Goes to Europe, Report Finds
The report by venture capital firm Atomico also found that more than a third of all ICOs were based in the EU.
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SF Fed President: No Plans to Put USD on a Blockchain
But central banks will likely continue discussing government-backed digital currency, said John Williams of the Federal Reserve Bank of San Francisco.
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Bitcoin To Tesla, False Promises For Saving The Planet
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As bitcoin's price passes $10000, its rise seems unstoppable
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Bitcoin surge stirs up worries about a bubble
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MarketDesk Launches Bitcoin Composite Prices on Free Mobile App
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Goldman Eschews Bitcoin but Wants to Help Clients Crypto-Trade
Mega BitChain Scam: Review Exposes Mega Fraud
Once Mega BitChain mines your Bitcoin, they will offer you payouts on a regular basis. Where are the terms of contracts? Are their contracts for a lifetime? And why is it that guys are not being offered the chance to buy hashpower or even choose their mining pools?
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ECB's Yves Mersch: Banks Need Faster Payments to Counter Bitcoin
European Central Bank board member Yves Mersch has said banks need to launch instant payments systems to counter the rise of cryptocurrencies.
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Coinbase Ordered to Hand IRS Data on Over 14,000 Users
A U.S. court has ordered bitcoin exchange Coinbase to disclose details of more than 14,000 customers to the Internal Revenue Service.
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U.K. Won't Accept Cryptocurrency for Tax Bills, Minister Says
The government does plan to regulate exchanges and wallet providers, but won't intervene to help such startups get bank accounts, the minister said.
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Bch Pump... The Bitcoin Mining Mafia | Bitcoin Cash Warning!.
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Gone are the days when cryptocurrency was the next big thing; its time is now. More people are expressing interest in digital currencies as the days go by. Going by the current trend, it will not be long till virtual currency takes over as the primary means of trade. For this reason, and the electronic nature of ...
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Perfect Bitcoin – Cryptocurrency Trading Platform Earns Like HYIP?
High yield investment programs (HYIP) are the talk of town these days, especially with the popularity of cryptocurrencies continue to grow. They are not any different to the traditional managed funds, because users are requested to invest some money into an account and promised daily or hourly returns.
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Bitcoin surpasses 11000 then falls
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Down, Not Out? Dash Price Likely to Defend $600
Dash traded over an impressive range Thursday, hitting new highs above $800 before dropping back to around $600.
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PwC's Hong Kong Office Accepts Bitcoin Payment
'Big Four' firm PwC recently accepted bitcoin in exchange for advisory services, a news report revealed Thursday.
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Bitcoin Loses Over a Fifth of Its Value in Less Than 24 Hours
Questions of Regulation, Taxation Loom Over Crypto Investors
As the world of cryptocurrencies and ICOs heats up, there are many lingering questions about how tokens will fit within tax and regulatory frameworks.
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The Bitcoin Code Scam
Although The Bitcoin Code hasn't exactly gone to the effort to ensure their website is of the highest-quality, they have managed to get some fake reviews onto the internet so we urge you to be careful of these. Whether for money or a split of the profits, we aren't sure but there are some review sites ...
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Crypto GPS Review
A number of investors have come across this Bitcoin scam doing rounds on the internet. It's called Crypto GPS, a software whose owner claims will change your financial destiny by putting some free and easy $450 per hour into your pockets 24/7. The introduction video on the site says that there is ...
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Bitcoin Mentor Club Review
Hey there, thank you for stopping by to check out my Bitcoin Mentor Club Review. I'm actually a member of BMC, so I'm giving you this unbiased review based on my own experience. I've found A-LOT of fake reviews for this and other products popping up lately, so make sure they're actually giving a real ...
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DealBook Briefing: Bitcoin’s Price Swings Raise Fears of a Crash
Topped Out? Bitcoin Flirts with Short-Term Bearish Reversal
Bitcoin prices are taking a hit at press time, and could suffer a deeper pullback over the weekend, the price charts indicate.
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How Blockstack Counterattacked a Phishing Attempt on Its ICO
When phishing sites tried to con investors during its recent ICO, Blockstack used its tech expertise to turn the tables on the tricksters.
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Review: ‘The New Radical’ Asks, Is It O.K. to Build Your Own Gun?
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Bitcoin Reaches $10k, Should You Care?
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Investors Taking a Risk Buying Bitcoin, Says ECB Vice President
The vice president of the European Central Bank said yesterday that investors are taking a risk buying bitcoin at current high prices.
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More Devs, More Destruction: Inside Zcash's Second Crypto Ceremony
Amid criticism of its first security ceremony, zcash has made changes as it prepares for a fork. But has it done enough to silence the skeptics?
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Coinastrix Review: Bitcoin doubler Ponzi & binary recruitment
Coinastrix Review: Bitcoin doubler Ponzi & binary recruitment. Nov.30, 2017 in MLM Reviews. Coinastrix provide no information on their website about who owns or runs the business. In the Coinastrix Terms of Service the company refers to itself as “CMVV Ventures, Mexico”, with an address in Mexico ...
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Is Bitcoin in a Bubble?
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29/11/2017 Blockchain Reviews 0 Comments Buy Litecoin, Litecoin, Litecoin vs Bitcoin. Litecoin Review The cryptocurrency Litecoin is a peer-to-peer Internet currency with instant, near-zero cost payments to anyone in the world. Read more · Coin Market Cap · ICO Countdown · BitCoin Magazine ...
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ECB Tells Banks to Embrace Instant Payments to Beat Bitcoin
Bitroxa Review :- Crypto Trading HYIP Investment Scam Exposed
The rage expressed by many investors would suggest that BitRoxa bitcoin trading is nothing but a scam. Bitroxa Review. The interesting thing that our BitRoxa review want to share is that, just like HouseHash, BitRoxa ...
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WageCan Review - Legit Virtual Bitcoin Debit Card?
Welcome to our WageCan Review! There has been some buzz about this company so we decided to investigate what it was all about… Some say it's a scam while others WageCan reviews are saying it is a legit bitcoin debit card so what is it? The good news is we are going to walk you through the this ...
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Wednesday, 29 November 2017
Factbox: Things You Might Not Know About Bubbly Bitcoin
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Bitcoin 'Ought to Be Outlawed,' Economist Joseph Stiglitz Says
Bitcoin "doesn’t serve any socially useful function," says Joseph Stiglitz, a former World Bank chief economist and onetime adviser to the U.S. president.
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Tokenized Fund-of-Funds to Raise $100 Million Via ICO
A new tokenized fund-of-funds was announced yesterday that aims to raise up to $100 million via an initial coin offering.
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The Ethereum Killer Is Ethereum 2.0: Vitalik Buterin’s Roadmap
Speaking on November 25 at BeyondBlock Taipei 2017, Ethereum inventor and co-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereum’s architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety (consensus safety and smart contract safety) and, of course, scalability, which was the main focus of Buterin’s talk.
Buterin doesn’t seem worried about competitors. “The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum… 2.0,” he said.
The fact that Ethereum is booming seems to confirm Buterin’s optimism. ETH’s price has been relentlessly climbing, recently reaching almost $500, and Ethereum is handling more transactions than all other major blockchains combined.
Decentralization, scalability and security are among the important properties that blockchain systems should have, but there are conflicts. Off-chain solutions are useful, but limited. According to Buterin, it’s very easy to have two of these properties but very hard to have all three. However, Ethereum’s ambitious goal should be that of achieving all three at the same time. “We want to scale to thousands of transactions per second, on chain, without any supernodes,” reads one of Buterin’s slides.
Sharding
Sharding — dividing a blockchain network into several smaller component networks (called shards) capable of processing transactions in parallel — is considered to be a promising way to achieve high throughputs comparable to the thousands of transactions per second of traditional payment networks such as Visa and MasterCard.
“You can think of [sharding] as, in a fairly simple version, creating a blockchain where you have, let’s say, a hundred different universes, and each of these universes is a different account space,” said Buterin. “So you can have an account in some universe or you can have a contract in some universe and you can send a transaction in some universe, and if you send a transaction in some universe it only affects stuff in some universe.
“But these kind of 100 universes are not just separate blockchains; they are systems that are also interconnected with each other,” continued Buterin. “Particularly, they share consensus. So in order to break even one of them, you have to break the whole thing.”
Buterin went on to describe relatively easy and more sophisticated ways to implement sharding in the Ethereum blockchain, outlining a sharding roadmap that foresees, at least initially, the creation of new “universes” that don’t impact the main chain while permitting iterative experimentation, such as introducing higher levels of scalability, starting with “quadratic scalability as nodes validate certain shards and act as light clients for other shards.”
Privacy
Buterin noted that zero-knowledge proof (zk-Snarks) privacy technology equivalent to Zcash has been implemented in the recent “Byzantium” Ethereum upgrade, offering application developers new ways to implement tighter privacy. These new privacy tools will permit showing transactions to specific parties while hiding them from public view. Buterin went as far as saying that the privacy problem is now three quarters of the way to being solved.
Proof of Work vs. Proof of Stake
A major upgrade to Ethereum will be the introduction of Proof of Stake (PoS) in Casper which, according to Buterin, might be ready by next summer. With the first release of Casper, Ethereum will transition from pure Proof of Work (PoW) to hybrid PoW/PoS. “In this scheme, all of the proof-of-work mechanics will continue to exist, but additional proof-of-stake mechanics will be added,” noted Buterin.
The main reason why PoS is seen as a necessary development is, of course, the need to reduce the energy requirements of PoW blockchains like the current versions of Ethereum and Bitcoin. A recent report claims that Bitcoin mining consumes as much power in a year as 159 countries, which is clearly far too much, and Buterin admitted that today’s Ethereum isn’t any better than Bitcoin in that respect.
Smart Contract Security
Smart contracts implemented with Turing-complete programming languages are arguably the main innovation introduced by Ethereum. While smart contracts are finding countless applications and moving lots of money, the security and safety of Ethereum smart contracts have been questioned. Buterin confirmed that Ethereum will eventually introduce formal verification for smart contracts and that a new Python-like smart-contract programming language — dubbed “Viper” — is being implemented to enable the development of safer Ethereum applications.
While Buterin hasn’t said anything that he has not said in previous talks and papers, his BeyondBlock talk served as a useful confirmation and summary of the ambitious Ethereum development roadmap.
Besides Buterin’s talk, all the talks given at BeyondBlock Taipei 2017 are included in the full video recordings of the morning session and the afternoon session.
The post The Ethereum Killer Is Ethereum 2.0: Vitalik Buterin’s Roadmap appeared first on Bitcoin Magazine.
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China State TV: OTC Bitcoin Platforms May Violate Regulation
Commentary on China's state television suggests a ban on cryptocurrency trading platforms may extend further than startups originally thought.
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Getting Started? Ether Sets New High Above $500
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Wallet Demo Showcases Lightning-Like Network for Ethereum
A Liquidity Network founder has demoed how an ethereum wallet could function using a new off-chain scaling solution.
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Legend Coin – LGC ICO Bitcoin Cryptocurrency Lending Exchange?
The initial coin offering market has brought the cryptocurrency environment many different platforms that offer a wide variety of different solutions for long-standing issues. Bitcoin, the most valuable cryptocurrency in existence, is set to push through the $10,000 barrier sooner rather than later, and with ...
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Strike7 Review: 280% "investment professionals" ROI in 40 days
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Nasdaq to Launch Bitcoin Futures Contract in 2018: Source
Bitcoin Cash Plans to Increase Its Block Size, Again
Bitcoin cash could have its block size increased next year, according to an early roadmap from Bitcoin ABC.
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Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains
Bitcoin prices are showing the first signs of bull market exhaustion, with several indicators suggesting overbought conditions.
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Russian Central Bank Issues New Warning Against Cryptocurrencies
Russia's central bank warned against investing in cryptocurrencies in its annual Financial Stability Report released Tuesday.
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New Zealand Watchdog Warns Investors Over Marketplace ICO
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A New Blockchain ETF Is Up for SEC Approval
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Price of Bitcoin Over $10,000 as Rally Gains Pace
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ICO Mania Has Calmed Down a Bit – And That's Not So Bad
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Lambda Protocol: Decentralizing Access to Decentralized Applications
The Lambda Protocol has announced a decentralized, open-source solution for unrestricted access to decentralized applications (DApps). Utilizing the Lambda Protocol, DApp developers can leverage existing browsers such as Chrome or Safari to open up their applications to millions of devices currently being used. The Lambda Protocol plans to launch with support for both the Ethereum and Bitcoin blockchains, adding support for permissioned blockchains such as Hyperledger Fabric in the future.
The Lambda Protocol team, based in Singapore and Australia, is headed by CEO Taiyang Zhang. Team mentors include Santiment COO Dorjee Sun, KyberNetwork CEO Loi Luu and Liquidity.Network co-founder Arthur Gervais.
In an interview with Bitcoin Magazine, Zhang explained that there are two main problems when it comes to DApps: centralized access points and lack of interoperability between browsers and wallets.
Currently, most browsers for the decentralized web are centralized. For example, Google Chrome extensions and iOS applications allow users to access and interact with DApps on the Ethereum Network. These DApp browsers are controlled by private corporations, and they all share a common weakness: a single point of failure. They can easily be removed at a corporation’s discretion, no questions asked.
Zhang compared this single point of failure to a hypothetical in which a portal to search the entire web is hosted on a single website.
All it takes is for an ISP/Government to block one website, which defeats a core premise of decentralization.
All decentralized applications require a cryptocurrency wallet to function. Because of this restrictive prerequisite, desktop users must either integrate a wallet into a browser such as Chrome or Firefox by installing an add-on or create a new wallet by installing a new browser.
Users seeking to access DApps on mobile devices face greater limitations. Native iOS and Android apps do not support third-party browser/extension embedding, and popular mobile web browsers such as Chrome and Safari do not support add-ons.
The Lambda Protocol
The Lambda Protocol is an open-source internet protocol. "Our goal is to allow users to access the decentralized applications of the future in the browsers of today," said Zhang.
To facilitate this access to DApps, the Lambda Protocol plans to develop a decentralized messaging layer. This messaging layer has the capability to connect browsers such as Chrome and Safari to cryptocurrency wallets such as Ledger Nano S, Trezor, imToken and Jaxx. By utilizing the Lambda Protocol, DApp developers can open their applications to the millions of devices and applications that users currently use.
Conversely, users can connect to DApps via the Lambda decentralized protocol. For example, users can trade bitcoin on decentralized exchanges using hardware wallets without downloading additional software. And they can use decentralized applications on mobile devices without downloading additional applications.
Previously, it was impossible to access any DApps without downloading software that acts as a centralized point of access. But with the Lambda Protocol, users are offered a frictionless, decentralized entry point to the “Web 3.0.”
How the Lambda Protocol Works
DAP (Decentralized Application Particle) tokens fuel the Lambda Protocol. Zhang described the protocol’s basic structure from three standpoints: developers, users and relayers:
“Developers utilizing the Lambda Protocol pay DAP tokens to request a user’s wallet to sign a transaction. Users sign transactions, which are then broadcast to the network. Relayers (users who facilitate the execution of a transaction) earn DAP tokens by broadcasting and generating a proof.”
The amount of DAP required for an individual transaction varies and is calculated dynamically. A staking and rate-limiting mechanism is employed to ensure developers are only charged for on-chain transactions.
The Lambda Protocol plans to launch its testnet in Q1 of 2018.
The post Lambda Protocol: Decentralizing Access to Decentralized Applications appeared first on Bitcoin Magazine.
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Japanese Bitcoin Exchange bitFlyer Now Licensed in the U.S.
Tokyo-based bitFlyer has become the fourth digital currency exchange to receive approval from the New York State Department of Financial Services (NYDFS) for a “BitLicense” to operate as a virtual currency exchange in New York. This brings the total number of states in which bitFlyer is licensed up to 40.
The bitFlyer platform has over 30 percent of the worldwide bitcoin exchange volume and more than $100 million in virtual currency traded in 2017, all without access to the U.S. market. This latest expansion is providing access and technology to institutional investors in the United States, a largely untapped market.
“Our expansion and upcoming cross-border trading addresses a huge unmet need in the U.S. by institutional traders looking to access large amounts of liquidity across multiple virtual currency markets,” said bitFlyer USA’s chief operating officer, Bartek Ringwelski, in a statement. “Through our web interface or API, approved professional traders can be up and running and making trades in a matter of minutes.”
bitFlyer USA invited 2,000 experienced traders to take part in their closed beta to test buying and selling bitcoin on their platform. bitFlyer enables traders to place market, limit and complex trade orders, in addition to offering an API for programmatic traders. Their focus in the U.S. marketplace is on professional traders who trade $100,000 or more in virtual currency per month.
Ringwelski said they would be launching additional features in the coming year to make virtual currency trading — including global trading — more widely accessible.
Although bitcoin is the only supported cryptocurrency at the moment, bitFlyer plans to expand into other popular altcoins in early 2018.
The post Japanese Bitcoin Exchange bitFlyer Now Licensed in the U.S. appeared first on Bitcoin Magazine.
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Bitcoin: It's over 9000!!! (Edit: Now it's over 10000!)
TechCrunch Founder Arrington Raising $100 Million Ripple Hedge Fund
TechCrunch founder and Silicon Valley staple Michael Arrington has announced his newest venture – an XRP-denominated crypto hedge fund.
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Bitcoin Cash Demand Shocked Us, Says Circle Trading Chief
Representatives from several trading-oriented cryptocurrency firms took the stage at CoinDesk's Consensus: Invest event.
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AlphaPoint Unveils New Blockchain Network, CEO Hire
Blockchain software maker AlphaPoint has announced that it will create a new public network aimed at the digitization of real-world assets.
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