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Another Tipping Point is Reached

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When will we reach a point when cryptocurrencies are something more than just a hot topic? We are already there.  Google report for 2017 reveals the nitcoin and related cryptos were the second most searched topic.  Just a couple years ago they were far down on a very long list.  Today I received some of my own anecdotal evidence.

I was in the remote Mexican town of Mazamittla in a native art gallery.  The artist spoke almost no english. She told me that a painting I was interested in was 6,000 pesos. I offered 5,000.  She wasn’t interested in the slightest.  Just for fun I asked if she would accept bitcoin. Her eyes immediately lit up with excitement.  She knew right away what I was talking about and only wanted to know how many bitcoins she could get for 6,000 pesos.

Is there anywhere in the world where information about cryptocurrencies is still a secret?

Here is a somewhat harder question.  At what point do cryptocurrencies become so  widely accepted by business and consumers that they are permanently embedded our lives?

Allow me to sight a couple boring statistics to make a point.  I am choosing Ethereum because this is a good measure of public awareness.  Whenever cryptocurrencies are mentioned, bitcoin is the first and often only name mentioned.  So awareness of Ethereum is a better measure of the breadth of public awareness.

Distinct Address is a measure Ethereum uses to track unique accounts. It does a good job of measuring the dynamic fundamental growth in demand for Ether, the gas that drives the Ethereum Network.  It shows that over the past 18 months Distinct Address has risen from 501,305 to 22,634,386 as of January 18th.  All by itself that is a pretty amazing and uninterrupted gain.  Everyday, more than 250,000 new addresses are added.

We could cite a growing number of examples about bitcoin, Ripple, Litecoin and others supporting the notion that 2017 may have been an explosive year for crypto prices but 2018 is going to be just as exciting for reaching and even surpassing the tipping point of economic significance.

ICE And Blockstream  Join Forces

ICE stands for the Intercontinental Exchange and represents the world’s largest network of regulated exchanges and clearing houses.  One of it trophy properties is the New York Stock Exchange and a collection of others that together represent a massive data network.

Blockstream is one of those companies that is using bitcoin’s Lightning Network has created an agreement with ICE to provide customers with a feed that will include real-time cryptocurrency data from approximately 15 participating exchanges. This will include global prices and order book data for six cryptocurrencies:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Dash
  • Ripple
  • Bitcoin Cash

The Cryptocurrency Data Feed is a multi-asset and multi-venue data feed that will cover the majority of cryptocurrency exchange trading volume for a broad range of cryptocurrencies against the U.S. Dollar and other major currency pairs.

Representing cryptocurrency trading in Asia, Europe, and North and South America, the feed will include data from Bitbank, Bitfinex, BitMEX, Bitso, Bitstamp, BtcBox, CEX, Coinfloor, Coincheck, ItBit, Gopax, OKEx, SurBTC, The Rock Trading, Unocoin, Vaultoro, Zaif, and others still in the works.

Once operational, this will put some order to the tremendous pricing disparity that exists today.  This is also a tipping point for investors who restrict their transactions to only well respected exchanges.  

Bitcoin is leading the crypto business, first with the creation of a bona fide futures contract and now to have their Lightening Network being used in the creation of a consolidated crypto data feed with ICE is yet another piece of evidence that 2018 will be a year of major advances in the mainstreaming of crypto.

I will not be surprised if the next time I visit Mazamittla Mexico, that native artist is using the Lightning Network to accept Bitcoin payments from her customers.  

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 115 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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Altcoins

60 Minutes Showcases Potential of DNA and Genetic Genealogy; Opportunity for Crypto Investors

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DNA Storage

Throughout the years, 60 Minutes has been responsible for reporting on some of the biggest stories in the world.  Many of the most memorable episodes have involved world leader interviews, stories on endangered animals, profiles of famous celebrities, and occasionally, segments on promising developments in business and science.  A week ago, 60 Minutes had a very interesting report on how the authorities used Genetic genealogy to solve the case of the Golden State Killer, and how the authorities plan to keep using this new field to solve more cold cases in the future.

On April 25, 2018, authorities in Sacramento announced that they had solved the notorious case of the Golden State Killer.  Authorities were able to use a promising new technique called Genetic genealogy to help identify 72-year-old former police officer, Joseph DeAngelo, as the suspected killer.

Genetic Genealogy

Genetic genealogy is a mixture of high-tech DNA analysis, high speed computer technology, and family genealogy.  The end goal is to determine the level and type of genetic relationship between individuals.

In the case of the Golden State Killer, DNA came into play because the killer had committed at least 12 murders, 50 rapes, and many home burglaries.  Investigators were able to obtain DNA from the killer at one of the reported crime scenes.  After many years of frustrating dead ends, a cold case investigator submitted the obtained DNA sample to GEDmatch.  GEDmatch is the largest public genealogy database in the world.  After uploading the sample, authorities were able to generate a handful of leads which eventually led to the front doors of Joseph DeAngelo.

In addition to the Golden State Killer case, authorities have used Genetic genealogy to make arrests in at least 11 other cold cases.  While the science appears to be sound, there is a legal question that has yet to be answered.  There is no doubt that attorneys for the accused will raise the question of privacy and whether using databases, thought to be private, should be legal.

Opportunity for Crypto Investors

While I’ve invested in equities and crypto for many years with varying degrees of success, I’ve never had the opportunity to invest at the beginning of a new frontier.  Fortunately, the opportunity has come.  Encrypgen (DNA) is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data.  This creates a fair marketplace for a person’s DNA that can be stored private and sold (if a person wishes to do that).

Over the past few months, Encrypgen has been gaining attention in the mainstream media because of their revolutionary technology as well as the fact that their closest competition is still years away.

In August, Encrypgen released a beta version of its Gene-Chain.  The Gene-Chain allows consumers to upload their genetic profile and for researchers to purchase that genetic data.  Within the next 2 weeks, the company plans to release the full version of the Gene-Chain which will officially make them a new pioneer in the field of genomic blockchain security.

With the DNA token hovering at approximately 5 cents, the time is running out to accumulate at bargain basement prices.  I fully expect the token to achieve utility in the next several months which will cause a rocket-like explosion in the token price.  There is no looking back now, only forward, and I love what I see.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Fantom – The Next Big Thing?

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Fantom (FTM) is a a Directed Acrylic Graph (DAG) based smart contract platform in which the more nodes participate in the network, the greater the transactions per second. The project is aiming for 300,000 transactions per second, which would be applied to multiple industries such as food technology, financial services, telecom, logistics, etc. Fantom is designed to offer instant payments, near zero costs, and unlimited processing scalability. Like Ethereum, Fantom supports Smart Contracts but they run on the Fantom Virtual Machine vs the Ethereum Virtual Machine. Why is that important? Because the FVM will allow developers to write dApps that support smart contracts just like ethereum but run light-speed times faster.

A lot of new blockchain projects talk as if they will challenge the top blockchains and take over their spot. While this is speculation and mostly hot air spoken by many projects, Fantom has a great shot at taking off as one of the top blockchains. Andre Cronje, well respected in the ICO scene as a technical blockchain expert, was added as part of the technical team recently. Having a team and community as strong as Fantom does gives it the extra push needed to take off. While other projects are implementing directed acyclic graphs (DAGs), Fantom is the first to do this with smart contract support.

Fantom operates on a system called OPERA, which is divided into three layers:

  • OPERA CORE LAYER – processes transactions, maintains consensus across all nodes via the Lachesis Protocol
  • OPERA WARE LAYER – supports smart contracts, executes functions
  • OPERA APPLICATION LAYER – supports third-party applications, provides publicly available APIs for dApps

Partnerships with credible companies definitely help the legitimacy of an ICO and Fantom has already made numerous significant partnerships such as the Korea Food-Tech Association and Oracle that will significantly enhance their chance of success. The company, in collaboration with NEM Blockchain, has recently announced it’s expansion outside of Korea into Australia. Fantom has chosen Australia due to their innovative culture and supportive government. Fantom is committed to working with local communities and governments to utilize Fantom technology across multiple industries. They are focused on creating real-time use cases of their platform by on-boarding Australian businesses in the next twelve months. Australia has hundreds of merchants who already accept cryptocurrency including the first airport in the world to do so. Fantom has already been working behind the scenes engaging with payment providers about using Fantom token as they expand globally.

Multiple blockchain projects are claiming to be the fastest with the highest tps, but have not come through on their promises. Fantom has an excellent shot at actually accomplishing this and immediately becoming a major player surpassing those that have fallen short.

Unlike many recent ICOs, which are constantly delaying and postponing the release of their tokens due to current market conditions, Fantom is unlocking and listing on October 29th. The project recently released a recent Technical Whitepaper concerning the Lachesis Consensus Algorithm, making another version of the Technical Whitepaper detailing the Fantom Framework ready, and preparing a testnet demo video to be available soon.

With major funds invested for the long haul and markets such as the USA, China, and Korea unable to participate in the much-hyped ICO, there should be quite a bit of immediate interest and demand upon listing on exchanges. The last ICO with similar hype was QuarkChain which also did amazingly well in this market. Fantom had a hard cap of $39 MILLION at the time of ICO raise and is expected to perform well.

Diclaimer: The author has invested in Fantom.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 53 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




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Why Investors Should Pay Attention to Blocknet

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Even in the “crypto winter” we are currently living in, the blockchain industry is still growing. This is a good thing for the industry in many ways, but all of these various networks have developed in a siloed and separated way.

Some companies have emerged that seek to help the various networks work together and harvest synergies. If blockchain was meant to be a new manifestation of the internet, these networks could be considered a new manifestation of blockchains. One such company is Blocknet.

Blocknet’s Mission

Blocknet is often referred to in the colloquial as “Block” and functions as a decentralized platform-as-a-service service. The basic goal is to connect the nodes of different blockchains to create a network of networks. The endgame here is to make it possible for applications to be developed on one blockchain but be used on another.

The network is composed of three key components: a node exchange, coin exchange, and data exchange. The XBridge is the blockchain router than connects nodes on different blockchains and makes it possible for them to communicate with each other.

The XBridge also enables cross-chain atomic swaps using a coin exchange protocol. We will go into more detail into this in a bit, but it is essentially a DEX. Finally, there is the inter-chain data transport that allows for feature sharing and smart contracts to be executed across chains.

Market Demand

Blocknet was founded in 2015 and finally launched their mainnet in September 2017. The market has been looking for a solution like this. There is competition from other networks like 0x, but they have already started to integrate their networks with Blocknet. By seeking to be a super-network, it is eliminating the idea of competition.

A big part of Blocknet is the decentralized exchange (DEX) that it runs. What makes it special and sets it apart from the competition is that it is more than just an exchange for ERC-20 tokens. It enables the trading of every coin that is integrated into the network.

The Blocknet DEX will be designed to enable an unlimited amount of trading pairs, and will enable complete anonymity for users. Additionally, by avoiding a central entity, you always retain complete control over your funds.

BLOCK Token

The token has two functions. First, they are used to pay trading fees and for the operation of applications on the network. Second, they are required to be staked as a service node or staking node. These are the nodes that distribute trade fees or confirm network transactions.

BLOCK trades on Bittrex, and in terms of recent performance, we have seen a heavy decline from the highs that BLOCK reached last year. However, it seems to have reached a bottom and found a support level. As we head in the last quarter of 2018, it could be time for a recovery, and BLOCK seems poised to take advantage of this.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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