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MB Technology and GoChain Partner to Accelerate Innovation on the Blockchain

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MB Technology has recently announced that it is committed to bringing $500 million USD worth of ICOs to the GoChain platform. MB Technology is an expert ICO advisory firm that has advised blockchain projects with a combined valuation of over $2 billion in several industries. Some of the companies that they advised include Fantom, Origo, GoChain, QuarkChain, CoinSuper, Icon and other top ICOs.

The company is committing $500 million to GoChain because it has already launched it’s mainnet functioning at 100 times the speed of Ethereum while being 1,000 times more energy efficient. GoChain is fully compatible with existing Ethereum wallets, smart contracts, dApps, etc. Two companies have already chosen GoChain to launch their ICOs: Solaster Health and Etherprise with a combined value of $63 million.

GoChain has hit the ground running. While many blockchains are still trying to finish up their technical whitepaper or have yet to launch their mainnet, GoChain is way ahead of the curvey. Although blockchains are competing to deliver the fastest Transactions-Per-Second (TPS), they nothing without the dApps that build on them. While speed is important, most blockchains releasing now are more than capable of handling sufficient TPS for production dApps. The dApp ecosystem built on top of a blockchain is just as important, if not more, than the speed of the blockchain itself.

ICOs struggle to build on new blockchains as there are not many well-defined standards. GoChain’s codebase is 100% compatible with Ethereum so any dApp that can or has been built on top of it will easily port to GoChain. This makes it easy for existing Ethereum apps to move over to GoChain and immediately work 100 times faster. A few blockchains build amazingly fast transacting software yet have no use cases or a dApp ecosystem building strategy.

With MB Technology bringing half a billion dollars to GoChain, the coin is extremely undervalued. Compared to other projects on CoinMarketCap, GoChain should be at least in the $100 million market cap range. Competing blockchains talk about overtaking Ethereum, yet GoChain has a working mainnet with dApps being added at a blinding rate. GoChain is one of the most underestimated and undervalued blockchains at this time. Look for GoChain to grow to five to ten times in the next few months from its current market cap of $19.4 million. GoChain is currently only on Kucoin. Look for it to list on other exchanges as it gains daily trading volume.

MB Technology offers advisory services to bring specific solutions designed to boost a project’s outcomes. They also create global investor awareness through their network of partners, influencers, and media outlets.

Disclaimer: Writer does not own GoChain. 

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 49 rated postsKent Hamilton - ICO Analyst on Hacked and Co-Founder of SpryOne - Loyalty Platform on the Blockchain




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Why Investors Should Pay Attention to OmiseGO

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Decentralization is a word that receives a ton of lip service in the blockchain community, but some companies are actually doing an amazing job getting their actions to back their words. OmiseGO is one such company.

Omise was founded in 2013 as a payment services company, and OmiseGO is an extension platform that operates separately. It is important you not confuse the two.

As an ERC-20 token that operates a smart contract platform, OMG is a high-performing proof-of-stake protocol with a massive mission to bring decentralization to trading.

What Need is OmiseGO Fulfilling

Ripple was originally seen to be the top solution in the payment providers sector, but its lack of decentralization has shown that there are significant downsides to their operating model. OmiseGO aims to become a decentralized Ripple, but operating a high-powered decentralized exchange (DEX), and has already become the top name in on-chain and cross-chain transactions.

With decentralization and the ability to connect fragmented payment processors, OmiseGO would also be able to help the unbanked gain access to the banking system.

There is currently a massive gap in the legacy financial network, since payment networks (such as SWIFT) have unilateral control over the flow of financial services on their network. Paypal and Venmo have proven to have similar centralization risks, even if they bring some competition to the table.

Not only would OmiseGO decentralize payment processing and create a DEX, but they have released a software development kit (SDK) to enable the creation of new applications and wallets on their system.

Meet the OmiseGO Team

OmiseGO is run by a well-reputed team (headed by Jun Hasegawa) who in the past have been referred to as “Fintech Rockstars” by Forbes. Their advisory board is packed with big names like Vitalin Buterin, Gavin Wood, and Joseph Poon, to name a few.

By contributing $100,000 to the Ethereum foundations DEVGRANTS program, they have indicated a strong commitment to the future of Ethereum and their investment within the community.

Every token needs to have its utility, and OMG is paid to holders in exchange for validating transactions. These holders have the right to confirm blocks, and effectively work as income producing assets in the course of the operation of the network.

The incentives here lie in the value of the network. The more transactions that need to be validated, the more token holders will need to confirm transactions, and therefore the more money is likely to be distributed to OMG holders in exchange for their confirmations.

OmiseGO’s Recent Performance

OmiseGO is now trading at around $3.30 USD, which is down an incredible amount from its high above $24 USD in January. This has been typical of many assets in the industry, but could be a sign that OMG is oversold.

There has also been a lot of news about OMG recently. In July a partnership with Status was announced that would result with the integration of the services of the two companies. Status is an open source dapp (decentralized app) for phones and browsers, and was one of the first clients to be developed on the Ethereum blockchain. Their core project is to link mobile chat and social media by using Ethereum tokenization.

With the goal of ultimate decentralization, OmiseGO has its work cut out for it. Although founded in 2013, they are still in the early stages of their expansions. More good news came in early June, when OMG was listed on Unocoin, one of the top asian exchanges located in India.

OmiseGO’s dream of connecting all the disparate financial systems and rails gives it the potential to become the DEX of the future. The question is whether they can displace the already dominant Ripple by going in a different strategic direction and sticking to their core tenets of decentralization and trustless networks.

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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Bitcoin Price Defends $6,000 as Crypto Market Cap Returns Above $200 Billion

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Bitcoin rebounded sharply on Wednesday after a bear market breakdown dragged prices to within $100 of yearly lows. Although the technical indicators have improved, significant downside risks remain.

BTC/USD Update

Bitcoin’s price was up 4.6% on Bitfinex to trade at $6,483. The leading digital currency reached a session high of $6,483, having recovered more than 8% from Monday’s swing low. Bitcoin’s 24-hour trade volumes averaged $4.6 billion on Wednesday.

The $6,000 price point has emerged as an important support level for bitcoin. As Hacked previously reported, this level is not only psychologically significant, it represents more or less the break-even rate for miners.

The monthly technical chart shows improving conditions in the bitcoin price, though this should be taken with a grain of salt given the market’s extreme moves as of late.

At current levels, bitcoin has a total market capitalization of $109.8 billion, which represents 53.6% of the total cryptocurrency market.

Altcoins and tokens collectively rose by $8 billion on Wednesday to reach a total value of $94.4 billion, according to CoinMarketCap. The value of all digital assets was $204.6 billion.

The Market’s Next Move

Although predicting bitcoin’s next move is notoriously difficult, a successful defense of the $6,000 floor is an important step in facilitating the next rally. That the yearly low ($5,755) wasn’t breached during the latest downtrend suggests the bulls may be running out of steam.

That said, bitcoin’s dominance rate reveals structural weakness in the cryptocurrency market, not to mention damaged investor psychology. As Hacked reported Tuesday, cash-out from the ICO boom appears to be largely responsible for the latest reversal, a sign that investors were losing confidence in riskier assets. This is further corroborated by Ethereum’s dramatic selloff over the past seven days. The so-called developer’s cryptocurrency has been responsible for three-quarters of initial coin offerings.

According to BitMEX CEO Arthur Hayes, investors shouldn’t expect a large price recovery at this stage given the general lack of momentum, volume and stability in the market. Trading volumes – a key proxy for demand in the cryptocurrency market – averaged $13.4 billion on Wednesday, based on latest available data.

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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4.6 stars on average, based on 546 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Augur (REP) Backtracks to 16-Month Lows; Aurora (AOA) Falls Away

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Augur (REP) fell 24% throughout Tuesday on its way to a token valuation last seen in April of last year. Daily volumes have halved for the decentralized prediction market platform as today’s sell-off accelerates the process that began on August 7th with the Bitcoin drop-off.

Augur Backtracks to April 2017

In one of the most elongated price reversals in the market cap top one hundred, Augur has gone beyond mere yearly lows in its descent to the price of $15.16, recorded just a few hours ago. That’s down from the daily high of $19.96 recorded 24 hours ago – it has been nothing but descent for Augur since then.

The weekly numbers look no better, with 42% losses for the week. The month looks much better in comparison, with 46% losses over thirty days, thus showing the extent of just how bad this past week has been. A rebound is being attempted at the time of writing, as the price pushes back up to the $15.30 range.

Augur made a splash in the daily news cycle in recent weeks with its assassination markets – a feature open to be used, or created by any user on the Augur platform. The heat died down after the initial splash, which saw around $1.5 million worth of bets placed on various markets.

Sudden Influx From Korea

After seeing no more than a $3-$5 million daily volume for the entire week, Augur suddenly felt a sudden influx of $60 million on August 13th. The volume peaked overnight at $61 million before a massive reduction sent it back down to $27 million from which it continues to fall.

Right now, $23 million of that sum is coming from REP/KRW trades emanating from Bithumb – that’s 81.5% of the daily volume. The subsequent REP price on Bithumb has climbed as high as $167, although that price has been excluded from CMC’s readings.

Aurora Falls Off

The worst losses for the day have come from Aurora (AOA) which is down 45% at the time of writing. Aurora has been sinking all week long to the tune of 66% losses over seven days.

Aurora was listed on Kucoin in June, and has been hailed (by some) as (yet another) contender for Ethereum’s crown as king of the dApps. But besides a recently launched bug bounty program not much seems to be happening over at Aurora at the moment.

While it’s fun to speculate on why Aurora has taken the worst of the hit, it may have something to do with the fact that it is only available for trading on one exchange – the aforementioned Kucoin. Today on Kucoin AOA/ETH trades were the most popular; perhaps a sign that the current low Ethereum prices proved more attractive than holding onto AOA for any longer.

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 38 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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