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Circle Sells OTC Desk to Kraken to Focus On Stablecoin

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Circle Sells OTC Desk to Kraken to Focus On Stablecoin

San Francisco-based cryptocurrency exchange Kraken announced that it has acquired Circle’s over-the-counter (OTC) desk.

In a Dec. 17 blog post, Kraken said that the company has bought “one of the most recognized OTC desks in crypto.” Circle co-founders Sean Neville and Jeremy Allaire confirmed the sale of the Circle Trade OTC business to Kraken, saying:

“We have known and admired Jesse and his team at Kraken for many years, and we have every confidence and expectation that Circle Trade customers and partners will continue to find best-in-class OTC liquidity service and responsiveness through Kraken going forward. Circle Trade represents an enormous success for the industry as well as for Circle, and we’re excited to see Kraken grow it further.”

Circle is looking to focus on its stablecoin

According to Neville and Allaire the sale of Circle’s OTC desk is part of its “sharpened 2020 product roadmap,” in which the company states that it needs to focus effectively on its stablecoin platforms by reducing complexity, tightening its product portfolio, and reorganize its teams to execute with greater agility.

Today’s announcement follows the news that Circle laid off another ten employees in early December. A Circle representative told Cointelegraph at the time that the company streamlined some departments and eliminated about 10 roles. The spokesperson also confirmed that the company was looking to focus on its stablecoin, USD Coin (USDC).

Kraken exchange will now expand to more than 20 global professionals

Kraken expects this acquisition to “significantly bolster” its services, as it hopes to provide new global trading partners, deeper liquidity and tighter spreads across all supported assets, and improved trader tools that will help streamline the trade process from quote to settlement.

Sean Neville steps down as CEO

The news also follows the recent transition of co-founder and co-CEO Sean Neville to a post on the company’s board of directors in January 2020. Neville launched Circle with Allaire in 2013. At the firm, both Neville and Allaire directed many of the changes in recent years, including a pivot away from Bitcoin (BTC) and the acquisition of cryptocurrency exchange Poloniex in 2018.

Published at Tue, 17 Dec 2019 23:30:00 +0000

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Privacy-Focused + Privacy Centric Blockchains

By David Freuden | Monsterplay   While encryption is the best protection in regards to privacy, protecting your personal data must begin with an action taken by you. Only through the lens of data ownership can we begin to answer the question of: “Who/What will protect my privacy?” It won’t be legislation, as governments themselves are often those who are … Continued

The post Privacy-Focused + Privacy Centric Blockchains appeared first on CryptoCanucks.

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By David Freuden | Monsterplay

privacy

While encryption is the best protection in regards to privacy, protecting your personal data must begin with an action taken by you. Only through the lens of data ownership can we begin to answer the question of: “Who/What will protect my privacy?” It won’t be legislation, as governments themselves are often those who are seeking more information on their citizens. This may be taking place either directly or indirectly via coercion, legislation or subpoenas directed at the ever-growing number of corporations that collect, store and share your personal information.

The new field of blockchain-enabled encryption offers significant opportunities to improve privacy and the controls around it. However, it is important to understand that not all blockchains are privacy-conscious, and fewer still are those that are privacy-centric.

Privacy Blockchains: By Approach

Looking at blockchain through the lens of privacy there are two core categories, Transparency and Privacy:

Transparency: Bitcoin & Ethereum. No information is hidden. This is good for blockchain analysis and honesty, but It is bad for user protection and privacy. Block Explorers, an open-source web tool, allows anyone to view information about blocks, addresses, and transactions on the Bitcoin and Ethereum blockchains.

It is relatively easy using solely blockchain analysis and the addresses of known public entities (businesses, organizations) to discern what address a person may be associated with, and where the funds are coming from/going to. Worse yet, when you pay someone from an address owned by you, reverse lookups are possible using a blockchain explorer. This means anyone you send bitcoin to can then look-up your address and, in turn, know precisely the amount of bitcoin stored at that address.

Privacy: Monero & Zcash. These use different approaches than Bitcoin and Ethereum, but it is worth noting that they both need a certain degree of transparency. This transparency is necessary for the logistics of:

  1. a) Ensuring that transaction gets from A-B (and related auditing by third parties)
  2. b)Preventing double-spends and counterfeiting

The privacy-focused blockchains, regardless of approach, are bound together by a common value: Privacy should be a choice. Bitcoin’s transparency is viewed as problematic by all projects actively pursuing a means to keep information private, while also being posted publicly on a ledger. In a way, this is the closest realization to a tangible “use case” that exists in crypto, apart from the concept of a decentralized ledger.

Privacy-minded blockchains also have two important differentiating subsets:

  • Opt-In Privacy: For example, Zcash, where all transactions are transparent by default. This results in (as of Nov 19th, 2019) roughly 87% of the Zcash network’s daily transaction volume being completely transparent. As a result, the latter 13% is much more easily deduced by analysts. You can see this on the Zcash explorer. With the “Opt-In” approach, transparency is the default. Privacy is an elected option.
  • Opt-Out Privacy: For example, Monero, where all transactions are opaque by default. This results in 100% of the network being opaque to onlookers with the exception of users who have chosen to share their information. Users may choose to do this for various reasons such as the need for a third-party audit. To do this on Monero’s network, users would provide a recipient’s address and a transaction-specific private key to that third party. These actions will make that transaction’s data visible to the party with whom this info is shared. With the “Opt-Out” approach, privacy is the default. Transparency is an elected option.

The Benefit of Competing Solutions

Blockchain projects taking different approaches toward the solution of establishing of choice-centred privacy is critical. Not just with blockchain but for privacy globally. The topic of individual privacy continues to make headlines around the world and is already influencing governments to enforce new legislation that is designed to protect privacy, such as the GPDR that was introduced in May 2018. As blockchain continues to grow and be adopted around the world it’s important that this new technology provides improvements in privacy and control of privacy.

  • The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy for all individual citizens of the European Union and the European Economic Area. It also addresses the transfer of personal data outside the EU and EEA areas.

As noted in my article Privacy, Your Personal Information and How To Protect Them, one of the most recent advances in technology that offers a significant advancement in privacy and security is Blockchain.

Leading Approaches toward a Privacy-Conscious Blockchain

The two examples mentioned previously, Zcash and Monero, are the two most well-known privacy coins in the market, being launched in 2016 and 2014 respectively. Their end goal is the same, but they use different mechanisms and approaches.

  • Zcash (ZEC) is a fork of the Bitcoin protocol and attains privacy via the use of zk-SNARKS, a zero-knowledge privacy protocol.
  • Monero (XMR)is a fork of Bytecoin, which has a completely different underlying protocol that Bitcoin called CryptoNote. Monero maintains the privacy of its senders, its transactions, and its receivers via ring signatures, ring confidential transactions, and stealth addresses respectively.

There are many other privacy-centric blockchains, most of which are forks from either Zcash or Monero. The reason for forking is that developers may believe there are significant improvements or advantages that can be offered to users. Forking into a new project from existing protocol enables new projects to keep the best of what exists and add new features and functionality towards the shared goal of user-controlled privacy and security. As a result, the most innovative projects are oftentimes more agile as a project than the blockchain titans they are forked from. Having a smaller userbase and ecosystem, they are able to react more quickly to newly arising issues and make changes with less notice and impact on their users.

Three projects of interest within the Zcash ecosystem, which epitomize innovation:

Komodo [KMD]: Komodo was launched prior to ZEC after Zcash source code had been made public. Komodo has rolled out the Antara Framework for launching new blockchains and a full-featured test environment for blockchain development (KMD Labs). They also pioneered a mechanism called Delayed Proof of Work (DPOW) that secures smaller chains with the security of bitcoin. Komodo is in the alpha stages of development for a decentralized exchange built upon atomic swaps.

Komodo enables projects to build their own chains, dubbed Smart Chains. These smart chains have the option to include a privacy module, alongside a host of other features, but this is entirely optional.

It is important to note that whilst Komodo is a fork of Zcash, and offers optional privacy features, it is not itself a privacy blockchain.

Visit Komodo website

Hush [HUSH]: Hush recently migrated their codebase from ZEC-forked code to a codebase derived directly from KMD’s prior work. Hush has created Hushlist, a means for users to communicate using zero-knowledge technology, similar to mailing lists. This can be used by journalists, whistleblowers, or anyone needing to communicate with many others, in a privacy-sensitive way. According to Hush’s lead developer, Duke Leto:

 “Hush was the first Zcash Protocol coin to remove the 1.6GB download requirement prior to syncing, which in addition to it having the smallest on-disk chain size of ~1GB, makes [it] the most bandwidth-efficient fork”.

Visit Hush website

PirateChain: PirateChain boasts the largest anonymity set of any functioning network, and are currently the only ZEC-derived codebase that takes on privacy from an Opt-Out perspective (i.e. by default — users must opt-out by sharing a viewkey). PirateChain is also a member of the KMD ecosystem.

Visit PirateChain website

Several projects from Monero’s ecosystem, that epitomize innovation:

Swap [XWP]: Swap is also derived from Monero and inherits privacy from RingCT and the CryptoNote protocol. Swap’s most innovative contribution is its implementation of a completely different mining algorithm, Cuckaroo29s. Cuckoo cycle (PoW algorithm) is only 42 lines of code in its complete specification. This means that not only is Swap’s code more easily audited by external parties, but its block verification is much faster than those based on the CryptoNight PoW algorithm.

Visit Swap website

Other Forks: Even Monero developers acknowledge the advantages of smaller, light-weight forks in making innovative changes. Most Monero forks are created by developers from the internal group of XMR’s main contributors. Many of these function as testing beds for prospective features on Monero. Projects in this subgroup include MasariAeon, and Wownero to name only a few.

Blur [Blur]: is a fork from Monero’s codebase. As a result, both chains choose Opt-Out privacy by default. Blur provides a refreshingly different perspective on the issue of specialized mining hardware than the typically-seen “ASIC-resistance” ideal. ASIC-resistance is something that has attracted criticism from entities like Coinbase, recently.

Blur plans to feature a multi-PoW ecosystem, incorporating multiple self-similar proof-of-work blockchains. The idea is to create separate faction-based chains for specialized hardware, that are more advantageously mined by the respective devices. Targeting key differences in chip design, and using independent chains to isolate hardware with incentives, The Blur Network plans to provide an inclusive ecosystem for all mining hardware, in a more logically competitive manner.

According to Biz, lead developer of Blur, “What we see going on within privacy coins is an illogical battle between hardware and developers. We see developers overly focused on building ever-higher fences, that only they were tall enough to see over. This does not solve the problem. It creates it. So, we are designing a new solution, one that includes not only specialized mining hardware but a means to keep CPU mining logical, for a longer period of time.”

In addition, BLUR will become the first-ever cross-chain communication between the worlds of BTC, ZEC, and XMR.

Visit Blur website

Your Eyes Only — A Privacy Blockchain-Enabled Future

privacy

The 2019 Netflix document, The Great Hack, shone a very bright light on how little privacy and control we have over our personal information.

In this documentary, it showed how Cambridge Analytica got their data from the Facebook developers, who created a survey app, This Is Your Digital Life, harvested data not just on the (270,000) Facebook users of the app, but on the 87 million U.S. Facebook users who were friends of friends. They were able to do this through default permissions that few users knew about. At the time, users needed to opt-out by going deep into privacy settings and clicking a button that said, “Don’t let developers share my friends’ data.”

In our technology-enabled world, privacy, and the rights to privacy will continue to gain momentum as a human-rights issue at the government level. The combination of privacy-focused technology, government regulation and legislation, expensive but necessary court cases and consumer action will create the catalyst of change.

There is no doubt that the ongoing development and advancement of privacy-focused and centric blockchains will play an integral role in solving the technical aspects of this issue.

Author: David Freuden is an Investor and Advisor for Blockchain, Tech Start-ups & Scale-ups.

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/privacy-focused-privacy-centric-blockchains/

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Privacy-Focused + Privacy Centric Blockchains

By David Freuden | Monsterplay   While encryption is the best protection in regards to privacy, protecting your personal data must begin with an action taken by you. Only through the lens of data ownership can we begin to answer the question of: “Who/What will protect my privacy?” It won’t be legislation, as governments themselves are often those who are … Continued

The post Privacy-Focused + Privacy Centric Blockchains appeared first on CryptoCanucks.

Avatar

Published

on

By David Freuden | Monsterplay

privacy

While encryption is the best protection in regards to privacy, protecting your personal data must begin with an action taken by you. Only through the lens of data ownership can we begin to answer the question of: “Who/What will protect my privacy?” It won’t be legislation, as governments themselves are often those who are seeking more information on their citizens. This may be taking place either directly or indirectly via coercion, legislation or subpoenas directed at the ever-growing number of corporations that collect, store and share your personal information.

The new field of blockchain-enabled encryption offers significant opportunities to improve privacy and the controls around it. However, it is important to understand that not all blockchains are privacy-conscious, and fewer still are those that are privacy-centric.

Privacy Blockchains: By Approach

Looking at blockchain through the lens of privacy there are two core categories, Transparency and Privacy:

Transparency: Bitcoin & Ethereum. No information is hidden. This is good for blockchain analysis and honesty, but It is bad for user protection and privacy. Block Explorers, an open-source web tool, allows anyone to view information about blocks, addresses, and transactions on the Bitcoin and Ethereum blockchains.

It is relatively easy using solely blockchain analysis and the addresses of known public entities (businesses, organizations) to discern what address a person may be associated with, and where the funds are coming from/going to. Worse yet, when you pay someone from an address owned by you, reverse lookups are possible using a blockchain explorer. This means anyone you send bitcoin to can then look-up your address and, in turn, know precisely the amount of bitcoin stored at that address.

Privacy: Monero & Zcash. These use different approaches than Bitcoin and Ethereum, but it is worth noting that they both need a certain degree of transparency. This transparency is necessary for the logistics of:

  1. a) Ensuring that transaction gets from A-B (and related auditing by third parties)
  2. b)Preventing double-spends and counterfeiting

The privacy-focused blockchains, regardless of approach, are bound together by a common value: Privacy should be a choice. Bitcoin’s transparency is viewed as problematic by all projects actively pursuing a means to keep information private, while also being posted publicly on a ledger. In a way, this is the closest realization to a tangible “use case” that exists in crypto, apart from the concept of a decentralized ledger.

Privacy-minded blockchains also have two important differentiating subsets:

  • Opt-In Privacy: For example, Zcash, where all transactions are transparent by default. This results in (as of Nov 19th, 2019) roughly 87% of the Zcash network’s daily transaction volume being completely transparent. As a result, the latter 13% is much more easily deduced by analysts. You can see this on the Zcash explorer. With the “Opt-In” approach, transparency is the default. Privacy is an elected option.
  • Opt-Out Privacy: For example, Monero, where all transactions are opaque by default. This results in 100% of the network being opaque to onlookers with the exception of users who have chosen to share their information. Users may choose to do this for various reasons such as the need for a third-party audit. To do this on Monero’s network, users would provide a recipient’s address and a transaction-specific private key to that third party. These actions will make that transaction’s data visible to the party with whom this info is shared. With the “Opt-Out” approach, privacy is the default. Transparency is an elected option.

The Benefit of Competing Solutions

Blockchain projects taking different approaches toward the solution of establishing of choice-centred privacy is critical. Not just with blockchain but for privacy globally. The topic of individual privacy continues to make headlines around the world and is already influencing governments to enforce new legislation that is designed to protect privacy, such as the GPDR that was introduced in May 2018. As blockchain continues to grow and be adopted around the world it’s important that this new technology provides improvements in privacy and control of privacy.

  • The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy for all individual citizens of the European Union and the European Economic Area. It also addresses the transfer of personal data outside the EU and EEA areas.

As noted in my article Privacy, Your Personal Information and How To Protect Them, one of the most recent advances in technology that offers a significant advancement in privacy and security is Blockchain.

Leading Approaches toward a Privacy-Conscious Blockchain

The two examples mentioned previously, Zcash and Monero, are the two most well-known privacy coins in the market, being launched in 2016 and 2014 respectively. Their end goal is the same, but they use different mechanisms and approaches.

  • Zcash (ZEC) is a fork of the Bitcoin protocol and attains privacy via the use of zk-SNARKS, a zero-knowledge privacy protocol.
  • Monero (XMR)is a fork of Bytecoin, which has a completely different underlying protocol that Bitcoin called CryptoNote. Monero maintains the privacy of its senders, its transactions, and its receivers via ring signatures, ring confidential transactions, and stealth addresses respectively.

There are many other privacy-centric blockchains, most of which are forks from either Zcash or Monero. The reason for forking is that developers may believe there are significant improvements or advantages that can be offered to users. Forking into a new project from existing protocol enables new projects to keep the best of what exists and add new features and functionality towards the shared goal of user-controlled privacy and security. As a result, the most innovative projects are oftentimes more agile as a project than the blockchain titans they are forked from. Having a smaller userbase and ecosystem, they are able to react more quickly to newly arising issues and make changes with less notice and impact on their users.

Three projects of interest within the Zcash ecosystem, which epitomize innovation:

Komodo [KMD]: Komodo was launched prior to ZEC after Zcash source code had been made public. Komodo has rolled out the Antara Framework for launching new blockchains and a full-featured test environment for blockchain development (KMD Labs). They also pioneered a mechanism called Delayed Proof of Work (DPOW) that secures smaller chains with the security of bitcoin. Komodo is in the alpha stages of development for a decentralized exchange built upon atomic swaps.

Komodo enables projects to build their own chains, dubbed Smart Chains. These smart chains have the option to include a privacy module, alongside a host of other features, but this is entirely optional.

It is important to note that whilst Komodo is a fork of Zcash, and offers optional privacy features, it is not itself a privacy blockchain.

Visit Komodo website

Hush [HUSH]: Hush recently migrated their codebase from ZEC-forked code to a codebase derived directly from KMD’s prior work. Hush has created Hushlist, a means for users to communicate using zero-knowledge technology, similar to mailing lists. This can be used by journalists, whistleblowers, or anyone needing to communicate with many others, in a privacy-sensitive way. According to Hush’s lead developer, Duke Leto:

 “Hush was the first Zcash Protocol coin to remove the 1.6GB download requirement prior to syncing, which in addition to it having the smallest on-disk chain size of ~1GB, makes [it] the most bandwidth-efficient fork”.

Visit Hush website

PirateChain: PirateChain boasts the largest anonymity set of any functioning network, and are currently the only ZEC-derived codebase that takes on privacy from an Opt-Out perspective (i.e. by default — users must opt-out by sharing a viewkey). PirateChain is also a member of the KMD ecosystem.

Visit PirateChain website

Several projects from Monero’s ecosystem, that epitomize innovation:

Swap [XWP]: Swap is also derived from Monero and inherits privacy from RingCT and the CryptoNote protocol. Swap’s most innovative contribution is its implementation of a completely different mining algorithm, Cuckaroo29s. Cuckoo cycle (PoW algorithm) is only 42 lines of code in its complete specification. This means that not only is Swap’s code more easily audited by external parties, but its block verification is much faster than those based on the CryptoNight PoW algorithm.

Visit Swap website

Other Forks: Even Monero developers acknowledge the advantages of smaller, light-weight forks in making innovative changes. Most Monero forks are created by developers from the internal group of XMR’s main contributors. Many of these function as testing beds for prospective features on Monero. Projects in this subgroup include MasariAeon, and Wownero to name only a few.

Blur [Blur]: is a fork from Monero’s codebase. As a result, both chains choose Opt-Out privacy by default. Blur provides a refreshingly different perspective on the issue of specialized mining hardware than the typically-seen “ASIC-resistance” ideal. ASIC-resistance is something that has attracted criticism from entities like Coinbase, recently.

Blur plans to feature a multi-PoW ecosystem, incorporating multiple self-similar proof-of-work blockchains. The idea is to create separate faction-based chains for specialized hardware, that are more advantageously mined by the respective devices. Targeting key differences in chip design, and using independent chains to isolate hardware with incentives, The Blur Network plans to provide an inclusive ecosystem for all mining hardware, in a more logically competitive manner.

According to Biz, lead developer of Blur, “What we see going on within privacy coins is an illogical battle between hardware and developers. We see developers overly focused on building ever-higher fences, that only they were tall enough to see over. This does not solve the problem. It creates it. So, we are designing a new solution, one that includes not only specialized mining hardware but a means to keep CPU mining logical, for a longer period of time.”

In addition, BLUR will become the first-ever cross-chain communication between the worlds of BTC, ZEC, and XMR.

Visit Blur website

Your Eyes Only — A Privacy Blockchain-Enabled Future

privacy

The 2019 Netflix document, The Great Hack, shone a very bright light on how little privacy and control we have over our personal information.

In this documentary, it showed how Cambridge Analytica got their data from the Facebook developers, who created a survey app, This Is Your Digital Life, harvested data not just on the (270,000) Facebook users of the app, but on the 87 million U.S. Facebook users who were friends of friends. They were able to do this through default permissions that few users knew about. At the time, users needed to opt-out by going deep into privacy settings and clicking a button that said, “Don’t let developers share my friends’ data.”

In our technology-enabled world, privacy, and the rights to privacy will continue to gain momentum as a human-rights issue at the government level. The combination of privacy-focused technology, government regulation and legislation, expensive but necessary court cases and consumer action will create the catalyst of change.

There is no doubt that the ongoing development and advancement of privacy-focused and centric blockchains will play an integral role in solving the technical aspects of this issue.

Author: David Freuden is an Investor and Advisor for Blockchain, Tech Start-ups & Scale-ups.

Sharing is Caring

Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptocanucks.com/privacy-focused-privacy-centric-blockchains/

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PlotX v2 Mainnet Launch: DeFi Prediction Markets

[PRESS RELEASE – Please Read Disclaimer] AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, congratulates PlotX – a cross-chain prediction market protocol on their v2 Mainnet launch on the Polygon Network on May 14 at 12:00 p.m. UTC. PlotX Version 1 (“v1”) was launched in October 2020 […]

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[PRESS RELEASE – Please Read Disclaimer]

AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, congratulates PlotX – a cross-chain prediction market protocol on their v2 Mainnet launch on the Polygon Network on May 14 at 12:00 p.m. UTC.

PlotX Version 1 (“v1”) was launched in October 2020 as a decentralized non-custodial prediction market protocol on the Ethereum Blockchain. PlotX allows crypto-traders to use their skills to predict the future value of digital assets like ETH, BTC. Markets on PlotX v1 were automatically created in intervals of 4 hour, 1 day and 1 week.

The v2 has been under development since December 2020 and the testnet was released on April 13th, 2021 for the public. After rigorous testing by the community, the launch of PlotX v2 on the Polygon Mainnet is now scheduled on May 14th, 2021.

PlotX v2 has focussed heavily on simplifying the prediction-making experience for users thanks to a consistent dialogue with their community via the research forum and their official community telegram group. It brings the experience closer to mainstream applications while retaining the DeFi ethos of being non-custodial and permissionless.

This can be seen in the marquee features that PlotX announced via their recent blog post about the mainnet release:

  1. Gasless prediction-making – via meta-transactions that abstract the process for users so they only have to make a single transaction while making predictions
  2. Smooth token bridging – via cross-chain swap technology, that enables users to move $PLOT between Ethereuem, Polygon and other EVM compatible chains like BSC & Solana, from within the application itself
  3. Guaranteed liquidity provisions – via incentive alignment of market creators for providing liquidity for new markets, making it lucrative for users to participate in
  4. Simple onboarding experience – for users, especially ones who are not familiar with metamask and RPC changes, to login using their email addresses without compromising on the non-custodial nature of the dapp

The team has built a class product and is highly receptive to the community. As per the roadmap, upgrades in V2 do not end here; numerous new features are slated to be introduced that will equip users with exciting new prediction opportunities.

Ish Goel, co-founder PlotX, shares his thoughts “It has been an exciting journey for us since the launch of PlotX v1 in October 2020. Prediction markets have always been an exciting derivative for crypto traders. However, they have always faced the challenges of a complex UX, high gas fees & low market liquidity that has also resulted in a lack of growth of the space. With PlotX v2 we have worked alongside our community to solve these challenges by introducing an overhauled UX, deploying on Polygon and introducing liquidity bootstrapping mechanisms for new markets. The community has reacted positively to these features and we’re super excited to reveal the mainnet app to them as well as the larger crypto trading community!”

About AscendEX

Originally founded in 2018 as BitMax.io, AscendEx is a leading crypto and digital asset financial platform catering to both professional and retail traders. Our venue offers spot, futures, margin trading and staking products and incorporates key elements from the DeFi space to foster a unique market structure for users. AscendEx is led by a team of Wall Street veterans who have applied traditional markets’ rigor to create a robust, secure, and reliable experience for all participants; and a consistent source of liquidity for primary offerings.

About PlotX

PlotX is a cross-chain Prediction Market protocol built by the ex-CTO of Nexus Mutual (>$1bn mcap). It enables crypto-asset price predictions, like “What will be the price of BTC/USDT in the next 1 hour?”

Dubbed as the Uniswap of Prediction Markets, PlotX is the simplest and most fun DeFi derivative for crypto traders.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


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Source: https://cryptopotato.com/plotx-v2-mainnet-launch-defi-prediction-markets/

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Bitcoin Price Hit 11-Week Low: BTC Retesting The Lowest Weekly Close Since February

Bitcoin prices have fallen to their lowest levels since the end of February as momentum wanes and the bears start rousing from their six-month hibernation.

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In early Sunday trading, BTC prices had fallen to their lowest levels for over 11 weeks, hitting $46,700 before a minor recovery.

The last time Bitcoin dropped to these levels was at the end of February during the second major correction of this ongoing rally. A rebound off that bottom sent prices above $60K for the first time in the two weeks that followed.

Later today, Bitcoin is going to close another weekly candle. In case the candle closes at those levels, this will become the worst weekly close since February 22nd, when BTC ended the week at $45,240, according to Bitstamp. Two weeks ago the weekly candle closed at $49,200, which the current lowest week close since February.

Second ‘Lower Low’ For Bitcoin

This time around, things feel slightly different and the bearish sentiment is returning to crypto-asset markets. Since its all-time high of $65K on April 14, Bitcoin has made a lower high and has now formed a second lower low on the daily chart, which is indicative of a larger downtrend developing.

Analyst ‘CryptoFibonacci’ has been eyeing the weekly chart which also suggests the bulls could be running out of steam.


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The move appears to have been driven by Elon Musk again with a tweet about Bitcoin’s energy consumption on May 13. Bitcoin’s fear and greed index has dropped to 20 – ‘extreme fear’ – its lowest level since the March 2020 market crash. At the time of press, BTC was trading at just under $48,000, down 4% over the past 24 hours.

Market Cap Shrinks by $150B

As usual, the move has initiated a selloff for the majority of other cryptocurrencies resulting in around $150 billion exiting the markets over the past day or so.

The total market cap has declined to $2.3 trillion after an all-time high of $2.5 trillion on May 12. Things are still high on the long term view but losses could accelerate rapidly if the bearish sentiment increases.

Not all crypto assets are correcting this weekend, and some have been building on recent gains to push even higher – although they are few in number.

Those weekend warriors include Cardano which has added 4.8% on the day to trade at $2.27 according to Coingecko. ADA hit an all-time high on Saturday, May 15 reaching $2.36, a gain of 54% over the past 30 days.

Ripple’s XRP is also seeing a resurgence with a 13% pump on the day to flip Cardano for the fourth spot. XRP is currently trading at $1.58 with a market cap of $73 billion. The only other two cryptocurrencies in the green at the time of writing are Stellar and Solana, gaining 3.7% and 12% respectively.

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Source: https://cryptopotato.com/bitcoin-falls-to-11-week-low-as-150-billion-exits-crypto-markets/

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