Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

                               

 

On May 14th, the Stellar network went down.

The problem was caused by some of the validators of the Stellar Development Foundation going down. The incident caused many in the cryptocurrency space to question the level of decentralization of the Stellar network. In a blog post, Stellar promptly responded to the outage and the “over-centralized”

critiques of the network.

“We’ve seen claims that Stellar is “over-centralized” and that somehow a failure with SDF’s nodes dragged down the whole network. Ironically, the opposite is true. Stellar has added many new nodes recently. In retrospect, some new nodes took on too much consensus responsibility too soon. We need better community standards around maintenance timings, quorumset building, and validator configuration.”

Ripple CTO David Schwartz was impressed by the way Stellar handled the situation. He laid out his thoughts on the matter in a Twitter thread. Schwartz broke down the issue and explained that similar problems could possibly arise on

the Ripple network.

“The same thing can happen on the XRPL. If too many validators are missing, the network will halt because there’s no way to be sure that they’re not validating other ledgers and you just can’t see them due to a network issue. “PoW system make forward progress even where forward progress is unsafe. XRPL and Stellar do not make forward progress under potentially unsafe conditions.”

Schwartz went on to breakdown how the Stellar protocol actually worked as intended. The temporary shutdown is actually a better result than the chaos that could ensue. An accidental hard fork could occur if the consensus protocol fails. Schwartz’s explanation caused a lot of hardcore Ripple fans to take a step back to look at the bigger picture. Many even admitted to and expressed remorse for their knee-jerk reactions and trollish responses. Ultimately, to avoid this particular issue, more validators are needed. This means that more users and validators are needed. And as the cryptocurrency community strengthens and the number of participants grows, security and efficiency go up.

Article Produced By
Stephen Brown

Cryptocurrency enthusiast and Expert in content creation and planning, project management, process improvement, media operations, and staff training. BA in Political Science from Brooklyn College. Contact: stephenbrown [at] zycrypto.com
 
 

David https://markethive.com/david-ogden

Altcoin: Cryptocurrency Market is Expanding

Altcoin: Cryptocurrency Market is Expanding

                                

Bitcoin is widely regarded as the Founding Father of all contemporary cryptocurrencies.

People first heard of Bitcoin in 2009 when Satoshi Nakamoto, whose identity still remains unknown, revealed an open-source code that was actually an improved conceptualization of a cryptography method known as blockchain. Nakamoto has successfully implemented a proof-of-work algorithm that came to be known as the bitcoin software.

 

Bitcoin laid a foundation for the development of other cryptocurrencies which obtained the collective name ‘alternative coins’ – altcoins. Less than ten years later since Bitcoin emergence, we officially have more than 1600 cryptocurrencies, with new kinds of this digital cash being introduced almost on a weekly basis. They are based on different algorithms and blockchain types, have different value and purpose, some of which will be described later in the article, but Bitcoin still remains a dominant currency that usually sets the market trends for the rest.

Altcoins are pushing harder

However, everything indicates that this prevalent position is gradually diminishing with altcoins gaining more popularity as well as market capitalization. According to the study conducted by the employees of the City University of London, there are 600 cryptocurrencies, aside from Bitcoin, which are being actively traded on crypto exchanges around the world. Coinmarketcap shows that the percentage of total market capitalization (TCM), also known as ‘dominance’, of Bitcoin with regard to altcoins has been reducing exponentially. In 2017, Bitcoin held as much as 86.29% of TCM, but in just two years it was reduced to 47%. It means that altcoins will continue to attain a strong footing in the crypto world and have more and more fields of application, with online gambling certainly being among the most popular ones.

Popular altcoins and their scope of use

Nowadays, when speaking of cryptocurrencies there is no way to avoid mentioning Ethereum, or Ether, a digital token that is the lifeblood of the blockchain operating system of the same name. Thanks to this platform, users can create smart contracts, a protocol that provides means for carrying out credible transactions without any intermediaries. Ether is probably the most popular altcoin today because it is widely accepted as a mean for investment in blockchain startups. Litecoin is often referred to as the ‘younger brother’ of Bitcoin because it is basically a slightly improved version of BTC. Nevertheless, it enjoys vast popularity because of its superior transaction confirmation mechanism known as the Litecoin Network.

Dash is also a reformed version of Bitcoin which uses several cryptographic algorithms and the system of master nodes to allow for almost instant transactions. Monero is based on the CryptoNote protocol that ensures the unparalleled level of anonymity along with the obfuscation, the act of making something incomprehensible, of all transactions thus making them impossible to trace. As you can see, these altcoins have different foundation and functionality, but all of them, as well as more than a dozen other cryptocurrencies, can be used for making bets on sports and playing in online casino at 1xBit, the most crypto-friendly gambling platform around.

1xBit happily accepts altcoins

If you are a crypto enthusiast who also likes to bet on sports or play in live online casinos, but just couldn’t seem to find the all-for-crypto platform that will cater to your needs, then look no further than 1xBit. Acting in compliance with the concept of total anonymity, 1xBit doesn’t gather any personal information from new users and allows them to play in a safe and confidential environment thanks to the one-click registration process. All deposits/withdrawals are carried out almost instantly and at a very low to no-fee basis. 1xBit broadens the scope of use of altcoins by providing a fully-fledged crypto-oriented gambling platform.

Article Produced By
Carolyn Coley

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

 

https://smartereum.com/53130/altcoin-cryptocurrency-market-is-expanding/

David https://markethive.com/david-ogden

Northern Irish Capital, Belfast Introduces Local Digital Currency

Northern Irish Capital, Belfast Introduces Local Digital Currency

David https://markethive.com/david-ogden

Top 4 Ways to Cash out Crypto Profits in 2019

Top 4 Ways to Cash out Crypto Profits in 2019

                               

 

 Most people are interested in cryptocurrencies

as a way to make money. Whether it is an extra income, some minor profits, or a full income as a self-employed trader, the opportunities are nearly limitless. Cashing out crypto profits can often be somewhat more complicated. Several options are at one’s disposal in this regard, although there is no one solution which works for everyone.

Traditional Exchanges With KYC

Perhaps the most commonly used option to cash out crypto profits comes in the form of using traditional trading platforms. Not everyone is a fan of centralized exchanges, which is only normal. Dealing with order books and going through a KYC process is not necessarily synonymous with a hassle-free experience. Despite those potential drawbacks, trading platforms remain a valuable option to convert cryptocurrency into more mainstream currency. Several factors need to be taken into consideration in this regard. First of all, one needs to adhere to specific withdrawal limits. Depending on one’s account verification level, those limits can range anywhere from $2,000 a day to unlimited funds. Secondly, these companies adhere to strict KYC guidelines, which means they may disclose your transactions to interested governments. Avoiding the need to pay taxes on such transactions is ill-advised, albeit that remains one’s personal decision first and foremost.

OTC and Peer-to-peer Trading

Another commonly used option is to rely on OTC or peer-to-peer trading. In terms of cashing out crypto profits, it is a viable option. There will often be people willing to buy from OTC or P2P sellers at a fair price. Interested users need to ensure they do not overdo this process. Many governments target Bitcoin sellers who are, in their eyes, acting as an unlicensed money transmitter of some sorts. For those users dealing with small amounts of cryptocurrency, LocalBitcoins and consorts are always worth checking out. This platform is available in virtually all countries and allows users to sell Bitcoin for any type of payment method they prefer. Sellers can also determine their own rates to sell cryptocurrency, which always makes things a bit more exciting. Make sure to rely on platforms offering escrow protection of some sort, as that will allow for more secure transactions.

Debit Cards Supporting Cryptocurrencies

Over the past year and a half, most discussions pertaining to Bitcoin debit cards have calmed down. That doesn’t mean this business model is no longer viable. Especially for users looking to cash out crypto profits, a cryptocurrency debit card can be a viable tool. Users can withdraw local or foreign currency from nearly all ATMs around the world, although a small fee might be added for doing so. Similar to dealing with OTC and P2P trading, it is not something which should not be overdone. Cryptocurrency debit card providers also use bank accounts and keep logs of how their customers operate. Any user potentially funding a card with thousands of dollars and withdrawing funds every week will attract attention. That can lead to an official investigation in one’s home country if those earnings are not reported to the right authorities accordingly. 

Contact a Tax Attorney or Accountant

As odd as it may sound, one of the safer options to cash out crypto profits is to directly contact a tax accountant or attorney. These individuals can aid in ensuring the crypto earnings can be withdrawn and all tax requirements will be taken care of accordingly. Since it is their job to often deal with vast sums of money they may be able to offer some alternative solutions to maximize one’s profits while remaining compliant at all times.

Options like these might not be in most people’s top 5 by any means. Cryptocurrency is often seen as a solution to bypass traditional financial systems in any way. Choosing that option can often yield unexpected and unwelcome consequences. As such, talking to an expert is a solid option. Any information or advice can be obtained free of charge without further commitments.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/top-4-ways-to-cash-out-crypto-profits-in-2019/

David https://markethive.com/david-ogden

Zeux Partners With VeChain, Supports Crypto Payments Via Apple Pay and Samsung Pay

Zeux Partners With VeChain, Supports Crypto Payments Via Apple Pay and Samsung Pay

            

The crypto payments app Zeux is rolling out support for VeChain (VET).

The app is designed to let users spend their crypto at retail stores that accept Apple Pay and Samsung Pay. The London-based company says it has launched in the UK and will be up and running in Europe later this year.

“VeChain has been a major player in developing its blockchain to make a difference in enabling enterprises and professional teams to leverage public blockchain. In particular, given the large VeChain community in Europe, the partnership will help us to reach our target European customer base”. Once crypto spenders activate their Apple Pay or Samsung Pay at a supported point-of-sale (POS) device, selecting their preferred cryptocurrency to complete the purchases, a merchant will then receive fiat. The cryptocurrency is instantly deducted from the spender’s Zeux digital payments wallet, with no charges for the conversion.

The fintech company says it’s aiming to create a digital banking solution that combines all banking activities on a single app to bridge the gap between traditional POS payment systems and the new era of crypto.The team at Zeux says the app will also integrate a built-in investment platform and a foreign exchange function. VeChain is just the latest addition to the crypto lineup on Zeux. The platform also supports Bitcoin, Ethereum, NEO, IOTA, Qtum and Bitcoin SV.

Article Produced By
THe Daily Hodl

https://dailyhodl.com/2019/05/12/zeux-partners-with-vechain-supports-crypto-payments-via-apple-pay-and-samsung-pay/

 

 

 

 

 

David https://markethive.com/david-ogden

PayPal Could Go Down Like Nokia Did If It Doesn’t Adapt to Blockchain Tech

PayPal Could Go Down Like Nokia Did If It Doesn’t Adapt to Blockchain Tech

                                

PayPal, the global online payments and money transfer system,

has begun investing in blockchain technology. But according to their chief financial officer John Rainey, the firm is hesitant about getting involved in the cryptocurrency sector. Speaking in an interview with Yahoo Finance on May 7, Rainey pointed out that PayPal briefly allowed their merchants to accept Bitcoin (BTC) as a form of payment, but that feature was shut down due to the currency’s instability and volatility.

Adding to this, Rainey said:

“We have teams clearly working on blockchain and cryptocurrency as well, and we want to participate in that in whatever form it takes in the future. I just think it’s a little early on right now.”

PayPal Is Not Focused on Blockchain and Crypto

Rainey stated that currently PayPal is focused on other areas of growth rather than trying to incorporate a cryptocurrency payment system. He then revealed that PayPal made a $500 million investment with Uber, because the two companies are planning to build a payments platform together.He also added that PayPal made a deal with Instagram, that they would be a payment provider for people shopping on the popular social media platform. Moreover, as if these deals and partnerships weren’t enough, the global payments giant remains on the hunt for other major acquisitions.

Final Thoughts

Although PayPal was previously focused on the research and development of blockchain technology, as they filed a variety of cryptocurrency and blockchain-related patents, it appears the company is taking a different approach in 2019. If PayPal fails to acknowledge the potential of cryptocurrency and blockchain technology, or to allocate the time and resources to develop and implement their own solutions, they could quickly fall behind with outdated payment technology.

After all, the cryptocurrency industry moves extremely fast, and new products and payment developments are being developed at this moment that could very likely surpass PayPal. Will cryptocurrencies ever make PayPal obsolete? Or will the global payments provider quickly adapt when the time comes? Let us know what you think in the comment section below.

Article Produced By
Jeremy Wall

Jeremy is a financial writer and aspiring investor. He is also a cryptocurrency enthusiast that’s fascinated with blockchain technology and the financial markets. When he’s not researching and learning about cryptocurrency, he’s traveling the world with his dog and girlfriend.

https://www.investinblockchain.com/paypal-go-down-nokia-doesnt-adapt-blockchain-tech/

David https://markethive.com/david-ogden

The SEC Has a New Exchange Traded Fund Application to Review

The SEC Has a New Exchange Traded Fund Application to Review

                                

The U.S. Securities and Exchange Commission (SEC)

has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund (ETF). According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether (ETH) and bitcoin (BTC). The fund has been named the “USCF Crescent Crypto Index Fund” with “XBET” being its proposed ticker.

It will also be sponsored by United States Commodity Funds LLC, a commodity pool operator which, according to the filing, is under regulatory oversight from both the National Futures Association and the Commodity Futures Trading Commission (CFTC). The new ETF proposal joins the list of proposals being reviewed by the SEC, including the Bitwise Bitcoin ETF Trust, an ETF proposal filed jointly by Bitwise Asset Management and the New York Stock Exchange (NYSE) Arca, and the VanEck SolidX proposal that has yet to be approved since it was first filed in 2018.

The fact that there are three separate ETF proposals is an encouraging sign for crypto investors, even though the SEC has yet to approve any of them. But in the last two years, numerous companies have failed in their bids to secure ETF approval, including the Winklevoss-owned Gemini Trust, ProShares and Direxion. Some other companies have also had to withdraw their proposals after several delays from the regulator. Among other rationale, the SEC’s stated reasons for denying these proposals rest on concerns over market manipulation and insufficient investor protection.

Article Produced By
Jimmy Aki

https://bitcoinmagazine.com/articles/sec-has-new-exchange-traded-fund-application-review/

David https://markethive.com/david-ogden

2019 Japan Prize Awarded for Significant Achievements in Technology and Science

2019 Japan Prize Awarded for Significant Achievements in Technology and Science

                                

Bitsonline was fortunate this week to attend the 35th Japan Prize presentation ceremony in Tokyo.

The Prize, similar in status to the Nobel Prize, is awarded annually to recognize significant contributions to progress in science and technology. The ceremony at Japan’s National Theater included Their Majesties the Emperor and Empress, senior members of the country’s scientific community, and several government ministers.

Receiving the Japan Prize in 2019 were Prof. Yoshio Okamoto for Materials and Production research and Prof. Rattan Lal for Biological Production and Energy. Both Laureates have worked in several countries and made breakthroughs that have been applied on large scales worldwide. They receive the official Prize medallion and certificate, plus ¥50 million JPY ($449,000 USD) in cash. However the real prize is the international prestige and formal recognition of years of work, and in acknowledging the benefits their discoveries have produced for humanity.

Breakthroughs Greatly Improved Medical Treatments, Food Production

In his acceptance speech, Prof. Okamoto (77) stressed the need for persistence in scientific research. Scientists who dedicated most of their time to pursuing their field of interest “have a good chance to make at least two or three major scientific breakthroughs” in their careers, he said. Prof. Okamoto lived by his words, with a reputation in his younger years for sleeping overnight in his laboratory because he was too impatient to wait until the next morning to see the results of his experiments.

In 1977 he discovered “by accident”, according to him, a process to efficiently separate “right-handed” from “left-handed” optical isomers — something that was not even considered theoretically possible at the time. The discovery enabled mass production of optically active drug treatments; chemical compounds that were mirror-image identical and could be either safe or toxic due to this asymmetric nature. It took him five years to perfect the process, which has since become widely used in the pharmaceutical production industry and has benefited researchers working on other treatments.

Prof. Lal developed processes for soil management in agriculture, beginning his research in 1970. By studying regions where soil degradation had diminished crop-growing capacity, he was able to develop new techniques to capture carbon dioxide from plants and the atmosphere, revitalizing heavily-used soil in harsh environments. His work has been vital to sustaining food production in a world expected to top 9.8 billion in population by 2050, with techniques that result in better soil quality and longer use, improved water quality, and also mitigate the effects of climate change.

How the Japan Prize Has Contributed to Science, World Peace and Prosperity

The Japan Prize was conceived in the 1980s as a way for Japan to make a global contribution to scientific progress, and enjoys a status similar to the Nobel Prize. Like the Nobel Prize, the award is given to recipients who are still living in recognition for past achievements, some decades-old. Generally, two science/technology fields are honored each year, although the Prize can be shared among multiple individuals. Researchers from all regions of the world have been recognized, with the majority being citizens of the U.S. or Japan. The 2019 presentation ceremony was a landmark for the Emperor, who took the throne in 1989 and at 85 is set to hand it to his eldest son on May 1st — in just three weeks’ time. As Crown Prince in the mid-1980s he had played a part in establishing the Prize, and as Emperor has presented all but four of the awards.

The nomination, awards and ceremony are administered by the Japan Prize Foundation, established with a donation from Konosuke Matsushita, the founder of Panasonic Corporation (known as Matsushita Corp. in Japan). Every year over 13,000 nominators from the world scientific community present potential candidates. A Selection Committee then evaluates candidates with an emphasis on their achievements and their impact on peace and prosperity. The foundation’s Board of Directors then makes the final decision.

Article Produced By
Jon Southurst

Jon Southurst is a Senior Editor at Bitsonline. He is based mainly in Tokyo, and is interested in the roles Asian economies play in developing cryptocurrency and blockchain technology.

https://bitsonline.com/2019-japan-prize-ceremony/

David https://markethive.com/david-ogden

Tron’s DAU Highs But Will TRX Respond and Rally? Dalmas Ngetich | May 4, 2019 | 7:00 pm

Tron’s DAU Highs But Will TRX Respond and Rally? Dalmas Ngetich | May 4, 2019 | 7:00 pm

  • Tron (TRX) prices drop 3.5 percent

  • Platform registers new dApp DAU highs

Tron’s superior dApp count and DAU is the reason why Misha Lederman, the network’s advisor of the Dapp Evolution Ecosystem is upbeat. Regardless, TRX prices are under pressure but technically bullish above 3.1 cents.

Tron Price Analysis

Fundamentals

Misha Lederman is a Tron and TRX bull. He’s an ardent supporter as well a certified protector of the network. While Justin Sun has his fair share of criticism, what Tron represents and strive for cannot be dismissed. Adopting a delegated proof of stake consensus algorithm and introducing super representatives, their network is scalable and fast.

However, Tron’s value proposition lies not in their throughput but their TVM. Launched less than three quarters ago, it is compatible with Ethereum’s, and the icing on the cake is perhaps their irresistible offers. Because of that and incentives as Tron Arcade, for example, some projects did shift camps, migrating from Ethereum and settling for speed and scalability. Add that to the successful acquisition and tokenization of BitTorrent, and it is not hard to see why Misha is optimistic. In his latest tweet, he said Tron’s superior dApp and daily active user count is a testament enough of their superiority over competitors and that the platform’s potential is only beginning to show.

Candlestick Arrangement

Nonetheless, Ton (TRX) is under pressure, dropping 3.5 and 4.3 percent in the last day and week. All the same, technical candlestick arrangements are supportive of bulls. From our previous TRX/USD trade plan, the asset is trending within a bullish breakout pattern as TRX prices oscillate within a 1 cent range with caps at 2.1 cents and 3.1 cents on the upside. Currently, prices are ranging at around the breakout level at 2.5 cents, which is neutral but bullish. However, it is after there is a sharp move above Apr-30 highs confirming the double-bar bullish reversal pattern ofApr-25-26 that traders can begin loading up with tight stops at Apr-30 lows and targets at 3.1 cents. However, for trend continuation, prices must close above the consolidation at 3.1 cents as buyers of late Dec 2018 flow back.

Technical Indicator

As aforementioned, Tron (TRX) is flat, trading at 2.5 cents. Even so, buyers are in control as long as prices are above 2.1 cents or Jan-14 lows. Accompanying the next wave towards 3.1 cents must be high volumes exceeding 13 million of Apr-25 as laid out in our last TRX/USD trade plan. Conversely, losses below 2.1 cents must be with equally high volumes.

Article Produced By
Misha Lederman

https://www.newsbtc.com/2019/05/04/trons-dau-highs-but-will-trx-respond-and-rally/

David https://markethive.com/david-ogden

Ctrip Options Trader Is Buying The Trade War Dip

Ctrip Options Trader Is Buying The Trade War Dip

Stocks tied to China have taken a big hit this week,

including Chinese online travel company Ctrip.Com International Ltd CTRP 2.67%. Despite a 7.7-percent sell-off since last Friday, one option trader stepped in with some large bullish bets on Monday. Throughout the day on Monday, Benzinga Pro subscribers were notified of several unusual options trades related to Ctrip.

The Trades

The largest of the series of trades was a purchase of 2,864 Ctrip call options at a $44.50 strike price that expire on May 17. The calls were purchased at the ask price of 40 cents and represent a $114,560 bullish trade ahead of the company’s earnings report expected on May 21. The break-even price for the call options is $44.90, more than 10 percent above Tuesday's trading price. The large buy took place roughly an hour after another Ctrip options buy of 509 Ctrip call options at a $45 strike price that expire on May 31. The $50,900 bullish bet could have been made by the same trader.

Options Insight

Due to the relative complexity of options trading, options traders are often seen as more advanced than the typical stock trader. Even if they aren’t trading options themselves, stock traders often watch for unusual options trades to provide some potential insight into what advanced institutional or wealthy individual traders may be thinking.

Trade War Pessimism Overdone?

Monday’s Ctrip option trader may believe the stock has been unjustly punished on trade war fears. That trader may believe first-quarter earnings will surprise to the upside and/or a trade deal isn’t as far off as this week’s negative headlines suggest. If it's the same trader behind both trades, he or she took one position ahead of earnings and one position after earnings. The larger position expires prior to earnings and will only pay off if the stock rallies on optimism prior to the earnings date.

Unfortunately, bullish call buying can also be a hedge against a larger bearish stock position, and it’s impossible to be 100 percent certain if an option trade is a hedge or not. However, given the Ctrip option trades’ relatively small size, it’s unlikely to be a hedge in this case. At time of publication, Ctrip's stock traded at $41 per share.

Article Produced By
Wayne Duggan
Wayne is a Benzinga Staff Writer

https://www.benzinga.com/trading-ideas/long-ideas/19/05/13684077/ctrip-options-trader-is-buying-the-trade-war-dip

David https://markethive.com/david-ogden