The entire cryptocurrency market remains to be dominated by Bitcoin (BTC) as the cryptocurrency now has a 50% market capitalisation in its area. Bitcoin have not been in this position of power since December 19th, 2017.
Bitcoins market capitalisation have shot up to millions, valued even more than every other cryptocurrency put together. Bitcoins market dominance have been on the incline for quite some time, however, they are representing an increase from the beginning of May, which was during the same time other cryptos were in the decline.
As a result, bitcoins market dominance mainly relates to factors in regards to how the other cryptos are fairing. Bitcoins value during December last year stemmed from other matters, these were in relation to how bitcoin approached the crypto trend, kick-starting its newly found relevancy.
This increase does not signify bitcoins return to increase, in fact, bitcoin was still in a much better position during December last year as they were valued at a much higher price than its current value. Bitcoins market reign may keep inclining, however, the other cryptos losing value will more or less play a positive factor to how BTC will maintain a level of relevance upon the market.
Free crypto sounds too good to be true, how does such a factor come about?
Well, its all been made possible with a functionality called Smart Drops, which acts as a form of a blockchain start up. In a nut shell, smart drops favour those who are currently in ownership of an Ethereum address, as they have a chance to receive an 'airdrop' in the form of a token. The idea mainly stands on the platform of encouraging individuals to participate in an Ethereum system. The idea sounds good on paper, but does it actually live up to its potential?
Facts illustrate that this system is gaining a vast amount of positive feedback in regards to its overall usability. So much so, that plans to drop air tokens in worth of millions are scheduled for the near future. Many companies have gone through measures to improve the perks and boundaries of airdrop tokens. Crypto stakeholders have high hopes on how to further innovate this feature. The Smart Drop community are already being built upon its early success. Developers were quick to see the potential in this innovative idea. They have full confidence that their token are being given to the 'right' users. It is unknown if the features availability will be implemented upon a broader spectrum in the near future.
Robinhood have managed to beat Coinbase by a mere day, as they have recently announced to its customers that Ethereum classic will now be enabled on its trading application. The company stated in one of its blog posts that the option went live today on its Robinhood Crypto application. Currently, only people residing in 19 American states will have access with the newly enabled features that the app has recently added.
Last week, final testing stages was announced by Robin Hood, they will later begin accepting transfers from ETC during August 7. The new option will begin as an exclusive feature to Coinbase Pro and Coinbase Prime, not all customers will have the privilege to trade in ETC from the moment its launched. Robinhood have used this launch as an advantage in its overall marketing and relevancy. They will add ETC support for their standard Coinbase Consumer in approximately 1-2 weeks after trading begins on Pro and Prime.
Coinbase had announced that they will be adding Ethereum classic in June. They stated that the selection will operate on a consistent basis, and that they had the desire to put fourth an Ethereum supported platform as soon as possible.
Ethereum being available on multiple fronts will only increase its value overtime, due to the fact that many will gain an increased amount of exposure.
A Bitcoin mining hardware giant known as Bitmain, are expecting to launch its crypto mining operations in early 2019. The firm will be investing a total of $500 million over the course of seven years into a new data centre, which operates on blockchain technology. Bitmain have described its business decision as a strategic investment and is purposed to expand across North America, as they are originally based in Rockdale, Texas.
A local newspaper reported that Bitmain took over a former smelting facility in order to set up its business in an efficient manner. The company could not disclose any details about their work leading up to the project at the time, so most information is in the dark at the time. Despite the lack of information, the local newspaper didn’t hold back on describing the bitcoin mining operation as a bad secret in the Rockdale area. The residents are simply not happy with how Bitmain are operating.
The firm is valued to be at about $12 billion, and has posted a vast amount of job openings on an online listing. Bitmain's operations have plans to join up with its Washington state facility in the near future. Back in April, they managed to receive approval for a land to be set up for mining purposes. Local residents view this as a form of negativity, making claims that it allocated wealth in all the wrong places.
North America isn’t the only region in its sights, Bitmain are looking to expand by opening up offices in Brazil, Switzerland and Israel. International bases will be set up in these areas with the purpose to carry out mining operations. With how matters are looking, Bitmain may be overextending its current expansion by disregarding factors involving the company’s image.
It seems that the potential in cryptocurrency has caught the attention of the Queensland state government, as they have made the decision to award a $100,000 grant to a travel start-up up company which specialises in crypto.
The company, TravelbyBit, specialises in designing tourist routes, which focuses on travellers spending crypto, while also being able to provide forms of crypto payments to merchants. With tourism being one of Queensland’s most important industries, this new development comes to no surprise.
TravelbyBit has enabled a new and clever way to properly channel the fundamentals of travel and tourism into a cryptocurrency platform. A vast amount of local businesses will be able to accept cryptocurrency payments, and new forms of trade will be enabled within the business.
This isn’t the only start-up that will receive a large amount of funding. 70 more companies will receive funding that scales in the millions. The start-up will help these companies to use their business module in practice, as well as operating on a more streamlined platform. Cryptocurrency payments will be accepted in a more direct fashion, and businesses will be able to get a stronger grasp with how the currency operates.
Tourism will be opened up further by targeted on a wider platform. Tech savvy travellers from around the world will most likely be drawn to these agencies as the payment system will suit their needs.
Cryptocurrency will allow tourists to book their travel experiences ahead, and in turn will make their scheduling a lot easier. These travel agencies have partnered alongside the Brisbane Airport Corporation with the intention to create a crypto-friendly airport.
Queensland pushing fourth this development could be an example of what’s more to come down the track. Eventually other Australian states may follow in its footsteps.
Ethereum users will soon be able to attach their address to a new top-level domain name, which will further secure their assets and services which operate across the Ethereum network. Ethereum users will be able to attach new names onto the domain in order to validate a certain level of security.
This was all announced last Friday, Ethereum Name Service have made this all possible, as CEO Toby Hall believes that there is a proven demand for further blockchain security. The collaboration will allow users to properly register their information in a more secure domain, which in turn will reduce any risks which may take place over time. Toby feels that blockchain can properly enable a more stable security system.
Ethereum users will be granted with far more choice in how they want their data and information translated across a decentralised platform. Email and web-based traffic can be properly attuned with Ethereum and blockchain technologies. Establishing this new level of security will help secure the overall process of creating a more valid form of authenticity across Ethereum based platforms.
Ethereum have gone through a vast array of implementations and innovative transitions in order to properly secure the platforms evolution.
Tickets to a music festival which is powered by blockchain technology are currently on sale. The event is titled Our Music Festival and will be featuring its very own cryptocurrency known as the OMF token. Our Music Festival, will be the very first festival which will enable booking fees to be enabled on a live application which functions on blockchain technology. The people behind the festival plan to market and develop the festival across an Ethereum network, with hopes to spread word about the festival itself, and creating a vast amount of appeal to the cities tech crowd.
The festivals line up will include, Charlotte Lawrence, Zedd, 3LAU, Big Sean and Matt + Kim. The event will run for a whole day, kicking off at 5 P.M to 11 P.M on October 20, 2018. The artist of 3LAU, Justin Blau, is the one behind the whole set up of the festival. Justin’s currently supported by a mixed team of music and cryptocurrency veterans from Paradigm Talent, which is a Creative Arts Agency. The event will primarily collaborate a talent pool of artists and tech enthusiasts to spread innovation and further depth on the capabilities of blockchain technology.
Our Music Festival implements its vision of a decentralized, direct-to-consumer ticket pipeline which properly supplies a vast array of economic functionalities to consumers on an operational basis. Blau has stated that ticket holders will purchase into a crypto ecosystem which will feature a variety of perks and benefits to those who stay true to the experience. These features will actively be implemented into a blockchain booking platform.
Hardware developer giant Sony, are trying their hand at hosting and maintaining blockchain technology, which will be presented on two new hardware approaches. Their decision was revealed on two filings which were primarily focused on electronic nodes and device systems. The company are set to put fourth these devices in the near future, however its not exactly confirmed what the project will be. Operating on blockchain technology will help with Sony’s overall rate of efficiency when it comes to matters involving its hardware systems and online platforms. Sony plans to boost the number of virtual nodes, which will be able to operate on a large number of its devices. With Sony only having a small number of nodes, implementing a blockchain functionality will help the tech giants channel their overall control across a broader scale.
But the question on everyone’s mind is the possibility of Sony releasing its own cryptocurrency. If Sony does choose to integrate a cryptocurrency, it will most likely be implemented into the PlayStation Network. Gaming titles and other purchasable transactions can be bought with Sony’s Crypto. Nothing is on the table yet, but Sony trying their hand at crypto shows us that developing their own virtual currency is entirely a possibility.
At this rate, the submissions are more focused on going through system implementations on a hardware scale, actually making virtual nodes available for PSN users is a bit of a far cry as to what’s currently going down at Sony at the moment
The Dubai International Financial Centre, recently announced that they will be teaming up with government start up; Smart Dubai, in order to develop a blockchain legal platform. The platform will be purposed to establish a court-based operation, which deals with civil and commercial disputes. Smart Dubai dubbed the new court system as “Court of the Blockchain,” and are currently going through measures to streamline its operations. The overall purpose of this establishment is to fast track legal operations, by employing a network based on blockchain contacts. Currently, Smart Dubai are allocating their focus on developing a blockchain-based legal platform.
A higher level of efficiency will be implemented into the current system, which in turn will contribute to sharing information to the court system in a decentralised manner. Dubai’s efforts are purposed to push fourth more innovation across its governmental operations. They are keen to stretch new levels of tech across the countries operations on a wider scale.
Smart Dubai, stated that future research will combine expertise and resources in order to properly investigate handling court disputes of private and public blockchain fundamentals. This will be the worlds first disruptive court, purposed to help unlock the power of blockchain technology across new fronts. Dubai plan to run a large number of applicable government transactions in two years’ time. Further innovations of blockchain will be implemented across a wider spectrum, Dubai are merely going through measures to secure a stable technological front.
Head of Vietnam-based crypto mining company, Le Minh Tam, has recently vanished with at least $35 million in client investments. He has been missing since July 26. Tams company, Sky Mining, is a crypto mining start up business, which promised to rent crypto miners to investors for a price between $100 and $5,000. Its services were promised to thousands of clients, and many bought into the idea. A 300 percent return over a year was promised to each miner, while investors were able to keep a stake in the company’s equipment.
Last Friday, a group of investors visited Sky Mining. They were left in surprise as they discovered that the firms mining facility and office was completely empty. Tam’s mining machines had been taken away, he later reported that he sold the machines in order to compensate the businesses financial losses. He also felt that his life was in danger, as a result, he was forced to disappear in order to protect himself. The fact that he relocated to the US with all of his clients money, validates that he isn’t being completely honest with his situation. However, he may be taking precautions before paying his clients back. Investors have taken action by filing lawsuits against the firm, it is unclear if they will be able to gain their funds back from Sky Mining.
Tam controlled all aspects of the company, overseeing every single mining operation, while controlling the funds. One of his co-workers, Le Minh Hieu, attempted to set up a temporary board in order to run the company in Tam’s absence. However, angry death threats from Sky Mining’s prior clients were thrown against him and his family. He was later forced to shut the firm down.
Ethereums network will be undergoing upgrades in order to make its functionality more efficient and somewhat less hefty on fees and cost terms. Developers are implementing a code for Constantinople which is the networks system-wide upgrade. These developers are planning to launch Constantinople in the coming months. They are working hard to ensure the upgrades are met up to standard. The upgrade will include an array of improvements across its coding functionalities.
A roadmap has already been released for the upgrade that mainly outlines a large amount of testing and the launch of specific network tests which are purposed to simulate its functionality across a practical environment. The upgrade will follow in the footsteps of Byzantium, which was activated last year in October.
However Constantinople isn’t the only upgrade that will be implemented anytime soon. A total of four upgrades are currently being developed. Many of these upgrades have been fully programmed and will be implemented on a functional basis in the near future.
More changes are currently up for discussion, which are focused to address Ethereum’s mining difficulties. The purpose of these upgrades are to properly assess certain issues while further enhancing the overall usability.
Recently, Google made the decision to follow in Apples footsteps when it comes to matters in banning various cryptocurrency applications from its online stores. Google has shifted its stance in its policies as they revealed their actions last Thursday. Google strongly believe they shouldn’t allow apps that are able to mine cryptocurrency on portable devices. Both Google and Apple have gone through a certain amount of measure to strengthen their efforts in order to address certain activities which are related to cryptocurrency mining on their platforms.
Google have already banned crypto mining extensions from its chrome webstore back in April this year. They discovered that a vast number of individuals did not comply with set policies, causing many issues with the company and its overall integrity. Apple also updated its mobile platform to align with policies in order to further restrict cryptos being mined on mobile devices.
This limits the overall functionality of crypto mining in general, which will restrict many crypto miners from utilising mainstream platforms in order to path a secure route in crypto trading. Google and Apple are merely taking measures to avoid potential cybercrime that may take effect across its platforms such as crypto-jacking.
Last month, incidents involving crypto-jacking shot up by 44.5% over the past year as reported by Russian cybersecurity company Kaspersky Lab. Hijackers were able to operate across a user’s device for crypto mining, as they were able to work across an unsecure platform.
Cryptocurrency mining has now become the target of hackers, as of midyear crypto miners are now accounted for at least 32% of cyberattacks. Google and Apple viewed these figures and made the decision to take them into effect.
On July 26 Facebook suffered a massive $120 billion loss in market value, which in turn is the biggest loss in a single day for a US trading company. The loss was a result of underwhelming sales and overall underwhelming user growth figures. Facebook have simply not been able to keep up with the proper analytical projections, which are generally required to help the social media giant turnover more users.
Crypto advocates made the decision to make matters even worse, as many investors compared the value between the two. Cryptocurrencies have been recognised as a volatile market trend, while Facebook is no longer ideal to invest in, as the social media site are slowly known to be a scam throughout the market.
What makes matters even more interesting is that the comparison between Facebook and Bitcoin is resurfacing old drama with Mark Zuckerberg and the Winklevoss brothers, who are Bitcoins biggest investors. One observer has described Facebooks misfortune as a dose of revenge for the Winklevoss brothers. If Cameron and Tyler Winklevoss sell all of their Bitcoin currency, the crypto would be fine, however if Zuckerberg would sell all of his Facebook shares, the social media giant will most likely collapse.
At this rate, Bitcoin is a stable asset in comparison to Facebook and may continue to be so if the crypto trend stabilises. Facebook have had a rough year, the very integrity of the business has been questioned after Zuckerberg came under fire earlier this year. Facebook does have an edge, as it generates money overtime. However, we’ve all seen the power of cryptocurrencies and at this stage its more than likely going to keep its edge on the market.
Coinbase has followed through with a new partnership to ensure customers in Australia and European regions have new ways to spend their cryptocurrency amongst some of the worlds largest retailers such as Uber and Nike. To ensure this is all possible, Coinbase has partnered up with London-based start-up – WeGift. This will allow individuals to be given the option to withdraw their cryptocurrency funds into certain types of gift cards that can be used with over 100 retailers.
WeGift has explained that there will be no swap fees present on the platform, a bonus of 5% in gift card value will also be converted from the user’s Coinbase account. The purpose of this function is to enable a new option for customers to further spend their crypto balances amongst new platforms, which in turn will upscale the value of items sold by retailers. While the launch will only be available in Australia and European regions, it will be present in many other counties in the coming months.
The service benefits both consumers and retailers as it establishes a functionality which acts as a form of convenience as well as a system beneficial to large businesses. For example, Bitcoin can be transformed into Uber credits or into any other form of token a retailer utilizes.
What’s most interesting about this development is how cryptocurrency is already beginning to transition into a form of commonly used currency. With Coinbase recently gaining an e-money license from the Financial Conduct Authority, they have been given new ways to further branch out its services while validating cryptocurrency formats into the market. This new service will enable Coinbase to act on a platform in European regions as they will be able to build its brand across a wider scale.
The digital asset platform is going through a revolution as a new platform called Bgogo has launched with the purpose to further provide crypto investors with refined options for trading. Bgogo acts as a crypto trading platform and is designed by experienced engineers and various experts who work alongside industry titans such as Microsoft and Google.
Bgogo is able to utilize a large percentage of the trading commission which will allow users to access its large trading platform on a more diversified basis. Token economics will be able to give more power to the community, allowing investors and project owners more access to the crypto ecosystem.