TronWeekly

Crypto World News

You are here: Home / Search for "jp morgan"

Search Results for: jp morgan

EMS Global Wellness Corp Heading to the Semi-Finals of the Hemp Innovation Challenge

by

EMS Global Wellness Corp is pleased to announce they have been selected for the semi-finals in the Hemp Innovation Challenge.

This means that EMS made it the top 15 list of all HIC submissions with entries from 13 countries around the world. The finalists will be announced on Friday, February 7th, at 9:00 p.m. (PST) on the Hemp Innovation Challenge website.

” We were amazed to get so many high-quality hemp innovation submissions from all over the world. They came from 13 countries. The wide range of hemp innovations speaks to the broad use of industrial hemp. ” said Mike Reid, Executive Director for the Hemp Innovation Challenge
” We are very excited for the achievement and the opportunity to showcase EMS Global Wellness Corp. at the Hemp Innovation Challenge finals if chosen,” said Jason Morgan, Founder, and CEO of EMS Global Wellness Corp

The World Ag Expo held in Tulare, California. This Expo is one of the largest agriculture trade events in the world, attracting over 1,500 exhibitors and over 100,000 attendees. This is a huge opportunity for anyone to present at such an event.

About EMS Global Wellness Corp

 

Ems

EMS is a Corporation that was formed to bring together global wellness and blockchain. EMS is a token on the TRON blockchain and utilized in the hemp, farming, health, fitness, gaming, and Artificial Intelligence industries. They strive to bring blockchain uses to real-world business. This is why EMS has started a marketplace for a one-stop-shop for all things hemp and more.

To be engaged in many sectors between hemp and total wellness is the center of their mission. Through the development of their token, EMS has built a community of thousands of faithful supporters around the globe.

 

Marketplace:https://emshempnetwork.com
Twitter: @EMS_token
Telegram: t.me/EMStokengroup

Tron Leads Smart Contract Blockchains as Most Active DApp Platform

by

Tron is ahead of all smart contract platforms with the most active users. A Dapp Review by CryptoDiffer ranked Tron blockchain ahead of Ethereum and EOS. The ecosystem continues to grow with increased user activity on decentralized applications (DApps). In fact, Dapps accelerated the number of users to approximately 2.77 million.  Among whom, 11% were active users. 

These stats left the blockchain community in a frenzy. Further debunking long-held beliefs that Ethereum was at the top of the Dapp chain. CryptoDiffer outlined differentiating statistics behind Tron, Ethereum and EOS blockchains. Although Ethereum lagged behind both Tron and EOS, the data revealed that Ethereum remains the smart contract platform of choice for many users. 

Most popular activities on the Tron ecosystem consist of gambling and high-risk applications. A user base that accounts for at least 75% of the platform’s total volume and active users. 

Prior Dapp reports claimed that Ethereum was popping more active users. A claim that CryptoDiffer refuted. In other words, despite Ethereum boasting a high number of decentralized finance applications (DeFi), these numbers do not necessarily translate to an active user base. 

According to CryptoDiffer, 94% of Tron (TRX) users are active on the platform judging from their active TRX addresses. EOS blockchain followed with 90% active user addresses and then came Ethereum, with 61%. 

Tether (USDT) seems to be enjoying a share of the Tron bubble with Tron based USDT ballooning to almost $1 billion. A figure that indicates at least 20% of the total supply of USDT coins. Presently, the US dollar stablecoin shows no signs of slowing down. 

The activity rate is an important aspect of judging the utility of an application. In fact a better indicator of the quality platform than user volume. Hence the disparity among DApp reviews ranking Ethereum at the top instead of Tron; arises from Tron having a slightly lower volume of users but a massive percent of whom are active. While on the other hand, Ethereum boasts about 2000 decentralized app developers on the platform. Additionally, Ethereum attracted a higher number of new enthusiasts.

For instance, Ethereum had 114K users in Q1 2019 compared to a whopping 578K users by Q4 2019. On the other hand, the number of new registrations on Tron fluctuated in Q2 2019. EOS would, however, face a decline as its users crashed from 163K in Q1 2019 to 58K in Q4. 

A prior report by Misha Lederman stated that Tron had 233K active user addresses. 5% of whose addresses were active. The report ranked Tron third after Bitcoin and Ethereum by activity rate. 

Unlike Tron, the rise in Ethereum’s new users is due to DeFi applications. And since most blockchain developers have the intention of democratizing banking and duplicating financial structures; it is clear the flock given Ethereum is the pioneer of DeFi apps. 

Meanwhile, Tron gaining the edge on the DApp ecosystem is quite encouraging. Analysts attribute the remarkable performance a result of last year’s launch of BitTorrent speed on the network. An action that potentially triggered bullish performance of the Tron (TRX) coin and boosted the number of new sign-ups. 

 

 

‘Google Coin’, Libra and Big Corporations Foray into Digital Currency

by

‘Google Coin’: The media space is currently enthralled by the idea of big corporations venturing into digital currency. Facebook led the way for the big four internet companies (Amazon, Netflix, Google and Facebook) with plans for launching the Libra stablecoin. While Bitcoin had a rough 2019 ending, the blockchain ecosystem entered into a hectic 2020 start. 

Price swings are not that frequent and at best, no more Initial Coins Offerings and scams to wade of industry attention. The fact that it’s so hard to predict tomorrow gains with digital assets, positioned institutions, and corporations as mere observers. However, the sublime of events into a subtle crypto sphere is shifting attention towards the development of fresh projects. 

While it is Bitcoin that sparked the digital money revolution,  established internet firms and central banks will create the future.

Speaking about digital money, Tyler and Cameron Winklevoss highlighted the Big Four, will each have at least one digital currency project by 2021. Headlines of Google attaining Quantum Computing Supremacy in late 2019 voiced alarm on the future of Bitcoin. Later on China would join the space with claims of working towards quantum computing technology. 

This technology breakthrough raised more fear than fun among blockchain communities, given that quantum technology could easily affect Bitcoin’s key features.  If quantum computing falls in the hand of cybercriminals, they could easily hack cryptocurrency ledgers and take control of the blockchain.

Following Google’s breakthrough, the search giant entered into a partnership with Citigroup for launching a fully-fledged smart checking bank account through Google Pay. This announcement piled pressure on Bitcoin developers and the blockchain community to enhance Bitcoin’s user experience and mass adoption. 

Or else Google wipes cryptocurrencies to redundancy. 

The Internet mogul code-named its planned bank account to Cache and anticipates to enable users to implement  Google’s analytic tools in traditional banking products. The firm expects to launch the payment service by the end of 2020, alongside Facebook’s Libra coin. Two projects that pose a major competition for Bitcoin. 

Google Coin Compliance Debate

Regulators in the United States are still concerned that Facebook’s Libra could potentially bypass the US dollar. In addition to as well bypassing the traditional banking system. Meanwhile, with China hot on heels to launch its digital stablecoin, Mark Zuckerberg believes Libra is the only saving grace for the US dollar in the currency wars.

Moreover, Google executive Caesar Sengupta in an interview with the Wall Street Journal noted that Google Pay’s approach is to partner with the existing financial ecosystem.

It might occur that Facebook is the only tech giant struggling with data privacy concerns, yet numerous user privacy controversies have plagued Google as well. For at least half a decade now. 

Google’s Ad Data Aggregation Could Fuel Google Coin

Majority internet scholars argue that Google is an ad company and not a consumer software firm. Hence to make possible its outreach, the search engine collects exhaustive amounts of user data to render its service.

Achieving the full capability of targeted ads calls for an extensive understanding of browsing habits, user background, purchases and several other preferences. All of which Google has the ability to cling to through data aggregation and analysis. 

Unlike Facebook, Google plays its role in protecting user data from hackers and phishing attempts. However, the internet giant’s model needs to collect as much online data as possible for cross-correlating between your offline persona and your online preferences. 

Ben Smith, a Vice President of Engineering and a fellow at Google admits that ads contribute a significant amount of revenue for the company. An amount averaging at least $33.7 Billion per year.

 

The revenue does play a big part in driving Google’s core mission to provide value to everyone. It’s not every day that a company provides top quality products to worldwide users at no monetary cost.

Thanks to the ad revenue, Google can afford to develop expansive user security solutions for free. Yet here is the big question: are these services free in the actual sense, or does Google provide them for free at the expense of user privacy?

Let find out, because;

If Facebook’s Libra gives you worry, Google coin should definitely give you a migraine.

Here are six good reasons.  

Google Coin Data Privacy Concerns

  • Tracking – Tracking and providing user information to advertisers around the world gave Google a whopping $95 Billion in 2017. The internet company tracks through its various applications, from Gmail to Android phones. 

 

  • Incognito – The incognito mode on Google’s Chrome browser tricks users into thinking they are anonymously surfing the net. However, this method is only meant to bar Google from tracking your information. Nonetheless, other websites on the internet can easily track you. 

 

  • Gmail – It is common to find targeted ads a few seconds into using Google’s search engine. The firm combines its native tracking capabilities with the search engine and Gmail to win sufficient user information. 

 

  • Cookies -These are such a crafty way of accumulating user data. Besides Google, hundreds of thousands of internet businesses use them to collect user information. The worse thing is that cookies are stored on a user’s device. 

 

  • Data Leaks – Despite the company admitting to setting aside massive resources for deploying security and privacy checkups, there is always the chance of bug leak. In 2009, at least 0.5 percent of google doc users had their data leaked following a bug leak. 

 

  • Association with National Intelligence (CIA & NSA) – Google has partnership ties with In-Q-Tel, an investment subsidiary of the CIA. The subsidiary provides cutting edge technologies to Intelligence. Which means they can easily acquire user data from Google if they wanted to. 

 

While it is not that Alphabet Inc (Google’s Parent Company) is an unethical company to just sell your privacy; there lies a formidable risk with such a company owning your financial data. Well if Google coin launched today,  who knows the amount of financial data we would provide them with. The fact is we provide too much data to Google and that would pose a great risk to users of Google Coin.

Tim Draper believes that the fiat to cryptocurrency usage ration will become 50-50 after digital currencies become cheaper and frictionless to operate. He added that the attainment of this ratio will make spending and investing of Cryptocurrencies easier and convenient than it is with dollars. 

With Google, Facebook and other tech companies joining the race to digital money, the ratio outlook is by far possible sooner than later.  A situation that also validates that digital currencies are here to stay. 

Sengupta said: 

“It may be the slightly longer path, but it’s more sustainable. If we can help more people do more stuff in a digital way online, it’s good for the internet and good for us.”

The biggest concerns around Libra and Google Coin lie within regulatory compliance, digital security and data privacy. While data privacy is a growing concern with Facebook,  and Google positioning itself as the ethical outlier of “Never be Evil”; users still have not been able to abandon the consumption of their services. Meanwhile,  Google Coin poses a bigger threat against Bitcoin than Quantum computing. 

When you start with Bitcoin and crypto investment, there are a few important things you should learn, such as market capitalization, trading volume, secure cryptocurrency storage, where you can buy crypto in 2020, etc.
Investing in Bitcoin today is widely considered to be a very risky undertaking. But as per my understanding Investing in cryptocurrency does not have to be difficult or risky. Before taking action, investors clearly need to have a strategy and each responsible trader always does its own research before making an investment in any asset. Make sure yours is done!

 

BitMEX: Bitcoin’s Lightning Network Usage Surpasses Expectations

by

According to recent research by the analysis arm of Bitcoin margin trading exchange, BitMEX, the use of Lightning Network on Bitcoin (BTC) has been higher than expected. The scaling solution for the world’s most popular digital currency has demonstrated significant growth across various aspects.

BitMEX applied different research methodologies to come up with a report. According to the report, Bitcoin’s off-chain scaling solution continues to rise. BitMEX concluded that the number of non-cooperative closures has grown past 60,000. In addition, around 6,000 BTC has been spent on closure transactions. Lightning Network is a second layer scaling solution that enables the users to transact using Bitcoin at extremely low fees. The report also outlines that it may be a sign of intense experimentation. It reads:

“The volume of transactions here is quite large and may indicate more experimentation with lightning than many expected. The data also indicates non-cooperative closures are more of a common closure type than people think.” 

How Lightning Network’s Growth is Crucial for BTC’s Long-term Trend

On the Lightning Network, a channel is the same as opening a tab on a bar. The same way customers can order drinks and beverages throughout the whole session and settle all the payment with a single bill, the users on Lightning Network can initiate several transactions and solely close the channel after all the transactions are complete.

Indeed, the closing of the channel takes place on-chain on Bitcoin’s blockchain grid which is rigid and unchangeable. Due to this, the network enables the settlement of many bitcoin transactions at the same time.

“Our database illustrates that non-cooperative channel closures are relatively common and that lightning network usage is higher than expected,” noted BitMEX.

The latest report by BitMEX Research indicates that the use of the Lightning Network has surpassed expectations over the past year. The uptrend surge in its use is very crucial for Bitcoin’s long-term growth. Unlike Lightning Network, most blockchain networks especially those utilizing a proof-of-work consensus algorithm, the on-chain transaction capacity is limited.

Furthermore, most blockchain networks such as Bitcoin and Ethereum can allow between 6-50 transactions per second. However, transacting beyond that often results in high fees charged. Hence the success in implementation and growth in usage of a second layer solution such as the Lightning Network; are significant for any large-scale blockchain network. The report reads:

“The findings may indicate that experimentation with mobile lightning wallets (which often produce private channels) may be more common than many expected. The data may also indicate that non-cooperative closure types are more common relative to the cooperative closure type, than the community thought.”

Fundamentals to Consider

The rise in the use of a second layer solution is among the several significant fundamentals factors of Bitcoin’s long-term growth. Other important factors include a consistent increase in active developers, large developer activity, and an increase in unique addresses on the Bitcoin network. If these fundamentals continue to improve as the year progresses, it is expected to have a positive effect on the price of Bitcoin.

Conclusion

At the moment, the Lightning network enjoys a volume of about 865 BTC. This is 1% more than it could handle over the past one month. Regardless, the developments in Lightning Network are particularly crucial. They are not only meant to trigger Bitcoin’s mass adoption but settling micro-transactions faster and at scale is important for our daily applications. So far, Lightning Network seems to be on the right track.

 

EMStoken’s New Collaboration: Weeding out the next big thing

by

EMStoken is a cryptocurrency used in several industries. These industries include Health and Wellness, CBD, Hemp/farming and Electronic gaming.

We have worked consistently over the past year to build partnerships with such industries and we are looking to expand further. Previous partnerships have included CompareCBD and WorldCBDAwards.

We would like to introduce our new collaboration with PotCoin. PotCoin is a global cryptocurrency used in the cannabis industry. PotCoin, works in a similar method to Bitcoin, except the usage is primarily to purchase cannabis in a legal manner. Users all over the world can sign up online, collect their digital coins, and spend them via the internet

Our alliance with PotCoin means that we can increase engagement through our platform. Additionally, we will be able to be up-to-date with the latest information in the industry and with our expertise and theirs, we will be able to make great things happen!

Here’s what some of our colleagues say about the new collaboration: “We are excited about collaborating with Potcoin and look forward to advancing the technology and usefulness of cryptocurrency in many factors on our upcoming platform to beat the forefront in the cannabis sectors” – J. Morgan CEO of EMStoken.

ems 1

“We are building EMStoken on the TRON blockchain to bring wellness & hemp & all its sustainable use cases within industries across the globe. The plant-based economy and circular economy is high on our priority agenda in connecting farmers to all things hemp”– J. Singh from EMStoken

Potcoin seems equally as elated as us:

“We are happy to be collaborating with EMStoken. This year so much will be happening in the cannabis and crypto spaces. We are super excited for what’s coming next!” @Joshinthecity from Potcoin.

potcoin

“As we grow into a global company, we are searching to align ourselves with those who have the same vision as us to help us make the world greener. Potcoin not only understands the potential of the cannabis plant but has been around in the industry for a while and wants to help us make it more accessible to everyone where it is legal. Eventually, we will all be able to enjoy the many benefits of the Cannabis Plant.”- K. Glor C.O.O. of EMStoken.

We look forward to working with Potcoin – here’s hoping we both can help the cannabis industry one step at a time. If you want to join our Green Revolution, go to https://playroyal.com and https://tronwatch.market to secure your EMStoken today.

 

Joseph Lubin and SU Zhu take turns to point out Libra’s flaws

by

Libra has met with backlash from a lot of areas, be it from the cryptocurrency industry or the mainstream financial ecosystem. In a recent series of tweets, Joseph Lubin, the co-founder of Ethereum, had talked about Mark Zuckerberg’s words on Libra, which was also supported by Su Zhu, the CEO of Deribit Exchange.

Zhu’s tweet read:

“Zuck, on Libra

to cryptonatives: bank the unbanked

to US Senate: expand US surveillance powers and counter the Red Threat

to would be noderelayers/partners: monetize user data

to other govts: diversify from USD hegemony”

The tweet was in conjunction with Lubin’s word that touched upon how experimentation in the blockchain was beneficial, but something led by Facebook wasn’t. The Ethereum co-founder claimed that a project as ambitious as Libra should not be controversial on the surface and that other companies such as MakerDAO and JPMorgan were working on similar projects too. Lubin tweeted:

“It’s important to explore price-stable currencies, pegged to the value of another asset or assets. We’re moving into an era where the monetary systems of the world are challenged, and this tech can enable potential solutions.”

In his attack on Facebook, he continued:

“Facebook deploys various aspects of advertising technology to exploit people’s personal information and attention, and as a negative externality has become a weapon of mass social manipulation.”

Joseph Lubin theorized that facebook has a massive agenda up its sleeve. According to him, the company and its partners will try to leverage its 2.3 billion users into “their own monetary and payments jurisdiction, massive business and geopolitical opportunity.”

He also opined that sooner or later, Facebook will the troves of data that the company has on its users and link it to the transaction in the Calibra wallet. This was made with the assumption that Zuckerberg’s organization had done it in the past. Lubin added:

“Mark #Zuckerberg talks about @Libra_in terms that are quite familiar (and validating) to the people already building blockchain systems: broadening financial inclusion & fixing a broken financial system.”

Lubin urged users to reject autonomous bodies and create a more open, decentralized internet where the users have more power.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Study Reveals Bitcoin No Longer Motivates the Crypto Market

by

So far, the crowning cryptocurrency Bitcoin has evidently influenced the trading prices of altcoins, but as per the latest study conducted by data provider Indexica, Bitcoin is no longer a driving force in the crypto market.

The study got reported by Bloomberg media last week (on October 11, 2019), adding various comments on Bitcoin, which were pulled out from the industry leaders, including JPMorgan Chase & Co. While Bitcoin gained enormous momentum, in fact, more than doubled in the first half of 2019, its performance in the second half of 2019 isn’t entirely appealing.

What Drives Bitcoin Price Up and Down?

Typically, whenever Bitcoin (as per the historical records) surges to a new high, it showers a quick gain to other cryptocurrencies in market but according to the Indexica, the alternative data provider which has researched data from Aug 1 – Oct 1, Bitcoin is no longer influencing the price of other market players despite holding the high dominance.

An exciting part that Indexica researched was, Bitcoin’s fall in the second half of 2019 is not majorly concerned with the currency itself; instead, it was crushed by the “growing cryptocurrency ecosystem.”

They emphasized that the price movements of Bitcoin are connected with the competing digital currencies and new blockchain technologies. More so, it mentioned the partnership between Mastercard and R3 that seeks to develop a new blockchain payment system. As per Indexica, this partnership believed to be the driving force behind Bitcoin’s price movement.

How far this study believed to be true is still a matter of concern – hence, we suggest you take it with a pinch of salt. This is because; Bitcoin still holds the highest dominance and still stands as the world’s largest cryptocurrency. Having said that, the CEO of Indexica, Zak Selbert noted about “Bitcoin’s sensitivity,” adding;

Now that Bitcoin is a big kid, anything can make it move, just like anything can make gold or a G-10 currency move. Bitcoin is part of the financial landscape in a very intertwined and mature way.

At the press time, Bitcoin is valued at $8368 against USD, which is an appreciation in its value by 0.15 percent within the past 24 Hrs. Moreover, Bitcoin currently marks the dominance of 66.4 percent, holding the market capitalization of $150,574,078,255.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Triple threat match between Ripple, Facebook, and Swift for cross-border remittance

by

Development of cryptocurrency in the digital payment category may have influenced the cross-order remittances. The number of blockchain startups and other financial institutions are seeing this as an opportunity to leverage their business shortly.

To exploit this opportunity businesses have started making use of their existing colossal user base, like Facebook while others like Ripple are partnering with fellow financial institutions like Moneygram and Coinfirm to take their game to the next level.

Understanding cross-border remittance

According to a report from the World Bank, there seems to be $529 billion in 2018, which is the remittances from the middle and low-income nations – which is more than 10 percent in 2017. Also, it is expected to reach $550 billion in next few years, which is why fintech firms and blockchain startups are considering this as an opportunity to tap into and leverage the same – calling it the lowest hanging fruit.

The mere purpose of immigration gets nullified when the remittance rates and cross-border money transaction rates are outrageous. On average, to transfer $100 using traditional means other than the emerging ones like Ripple, it costs around $7, which is expensive.

Considering Asian and African immigrants in Europe, the US, and Gulf, they would need to send the money back to their family and dependants in a definite period. These remittance rates are actually hitting the expats hard, thus avoiding the actual benefit of having an income in foreign currency.

Leveraging the lowest hanging fruit

Financial institutions like MoneyGram, Paypal, or Western Union, are really locking these transaction rates quite high, which in turn is allowing blockchain startups to find an alternative to this traditional and inefficient means of remittance. That precisely is what Ripple is trying to do; the blockchain firm has a vision of creating a dent at global than just doing roadmap of features. It seems they are here to fight between 0 or 1, to either make the impact or accept the failure.

Cryptocurrency based solutions are working to provide a cost-effective approach to this existing cross-border remittance procedure. For example, consider PayPal, it charges a flat price of 2.9 percent and $0.30 for a single online transaction.

Not too long ago, a spokesperson from World Bank mentioned something about the global state of remittance and how fintech firms can make a significant impact in the future,

“Although geography plays a huge role, the cost is the biggest challenge to financial inclusion. This is both from the perspective of the service provider, in the sense that the costs to provide financial services to the abysmal (including rural dwellers) can be prohibitive. Also, from the perspective of the user of the service (for meager-income individuals and families), the cost of using financial services can be prohibitive.”

Ripple has already been researching on these cross-border remittance procedures and its planning to do it using the decentralized ledger technology (DLT) by partnering with banks and other required financial institutions.

Though there are enough rewards when blockchain startups leverage this lowest hanging fruit, it comes with a price. Moreover, this is how the Spokesperson continued,

“Aside from the cost, we shouldn’t undervalue the role that gender discrimination plays. The result of this is a large (9% in the developing world) gender gap between men’s access to finance and women’s access.”

“While employing cross-border remittance, its good to consider Anti-Money Laundering and aiding terrorism as well” added the Spokesperson.

The battle of fintechs: Libra vs. Ripple (XRP) vs. Visa

But according to Jamie Dimon, CEO of JPMorgan Chase, cryptocurrencies can’t overtake the relevancy of banks payment procedures; he believes banks have already built P2P, Zelle, and TCH with better real-time transaction methodology.

Facebook, with its recent Libra project, is trying to leverage its social media user base, to tap into this market while Ripple is already partnering with other financial institutions to stabilize its overall financial journey. Also, Libra could violate the precedence of sovereign fiat, thus diluting the financial powers of underdeveloped and developing countries.

This battle seems to have already begun between Libra and XRP, especially after Ripple’s partnership with MoneyGram. With MoneyGram’s liquidity and Ripple’s robust operating system, XRP could be more rigid. With ordinance and compliance comes perfection, which is why Ripple has also partnered with Coinfirm, to make XRP a better option in the market.

It is worth noting that SWIFT is also in this race with plans of employing DLT based global payment innovation (GPI) platform. So it seems, SWIFT is actually planning to leverage upon Ripple’s XRP using its GPI platform when there is a cross-border transaction.

Instead of making things centralized SWIFT might make use of Ripple’s partnership with various banks and financial institutions, to use Xrapid and XRP creating multiple loops. With the obstacles in the cross-border remittances, cost-effective approach with the fastest transaction methodology, and end-to-end protection will be the leader in this business.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Ripple’s XRP Token is Now Available on imove Wallet

by

The imove wallet is now more wealthy by one more cryptocurrency, and that crypto is XRP. XRP is the native token of the Ripple network, which sees itself as the future standard for cross-border payments, remittances and general transactions on a global scale.

The wallet can handle multiple currencies, allowing holders to use both fiat currency and cryptocurrency alike. All of this from one account that gives users the ability to do instant currency exchanges, deposits, withdrawals, and many other bank settlements.

This is a match made in heaven as both the wallet and Ripple itself are positioning themselves as general tools to overcome the problems inherent in today’s financial system with regards to transaction time, speed and ease of use.

Why is this so important?

Sending money to someone, even in the same country, takes a lot of effort (and time). While many people don’t realize it, money does change hands electronically despite what your online banking profile might have you believe. The modern financial transaction system is a patchwork of various systems and processes that have a friendly UI. This is the reason bank transfers are so expensive. It is the reason for sending small amounts of money to someone on the other side of the world can be costly.

Ripple’s system wants to change this and cut out the middlemen that have been garnishing the transfers of regular people for decades and replace them with an impartial, secure, and above all fast system. This system uses XRP tokens to represent value in many ways.

The addition of Ripple to imove’s wallet is yet another step in this goal to become the premier global transaction network for everyone. The imove wallet is already able to handle multiple crypto and fiat currencies, so it is the perfect platform for Ripple and XRP to thrive while giving current users more options.

Ripple is booming at the moment, with many a developer looking at their network to power their payments. Their former Chief Technology Officer has started up a blogging platform that works similarly to Spotify. Stefan Thomas’ Coil platform promises to be the Spotify for written content, with easy entrance into the world of crypto.

What’s up from here?

Ripple is hard at work, finding more and more partners. They were finally added to Coinbase earlier this year, and there was a flurry of activity in the mainstream media comparing Ripple to JPMCoin where there was heated debate about the usefulness of either cryptocurrency.

The problem with JPM Coin, many said, is that banks would prefer to use an independent system as opposed to a competitors system. This is where Ripple shines – it is an independent network that is already miles ahead, technologically to its competitors.

When the imove wallet entrance is looked at from this angle – it certainly bodes well both for investors and users of the Ripple network.

Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

BNB and CoinFlip alliance would bring astonishing results on the table

by

The mainstream media pays attention to the cryptocurrency market only when it’s booming or when it’s sinking. It’s a significant factor in bringing new investors in. As Bitcoin is dancing around the USD 8.000,00 level, otherwise dormant investors are waking up and getting excited. As those traders have a fresh look into their portfolios, they’ll soon find they need to decide when is the right time to invest in altcoins, not to mention choosing the right coin or coins.

Altcoins can be much riskier than Bitcoin, mother and father of all cryptocurrencies, which is already not the safest bet in the world unless, perhaps, you’re playing for the very long term. But more risk is not necessarily a bad thing. The most basic rule in the investing game is that higher risks pay higher returns.

One of the altcoins that seem to be doing everything right is Binance Coin (BNB) which is the Binance cryptocurrency exchange platform’s native currency.

While news of a Binance hack affected the currency’s price negatively for a while, it bounced back and recovered. Other than the hack, Binance has been reporting a steady stream of good news, and that’s helped market performance for the token. Among that good news, perhaps the CoinFlip partnership, announced the last March, is the one that’s helped the most.

BNB Recent Performance

During 2018 the BNB token was the only one that was rising in value (or at least keeping it) while the rest of the market was plummeting. In April, it was the first currency to take advantage of Bitcoin’s surge, and it’s kept going up. So why is BNB rising? We can think of several reasons:

  • BNB holders get significant discounts when trading at Binance.
  • Coin burns. When a project burns some coins, the total number of tokens in circulation diminishes, thus creating a deflationary pressure that can often lead to an increase in value for the remaining tokens. And Binance will be burning BNB tokens at the rate equivalent of 20% its quarterly earnings until only 100 million coins remain.
  • IEOs or Initial Exchange Offerings are launches of new cryptocurrencies or any other project that needs fundraising. Crypto exchanges manage them, and Binance was the first one to offer that service. Participating in such an event requires BNB tokens, and the initial raising of new funds is done in BNB as well (at least partially). That creates demand and trade volume for the currency.

The PR arena is also essential and Chagpeng Zhao, Binance’s CEO, has turned into something of a crypto celebrity. Also, he’s very competent, as shown by his decision to partner up with CoinFlip.

The CoinFlip Partnership

CoinFlip has more than 200 ATM distributed all over the US. They’re the premier crypto-ATM service provider in the country. The company aims to give its consumers the best possible fiat-to-crypto gateway. The machines are easy to use, intuitive, and state-of-the-art, and allow users to buy and sell cryptocurrencies.

So how is it that CoinFlip’s ATMs generate additional demand for BNB, I hear you ask? It facilitates access to the coin to a lot more people for a start. Users who are not so geeky or crypto-inclined can buy digital cash using the ATMs instead of learning the crypto ropes.

ATMs are a lot more familiar to lots of people, after all. Privacy is another reason. Many exchanges ask of users to go through know-your-costumer procedures or other awkward identity verifications procedures. It’s tedious for some users, and a threat for privacy for others and they both can avoid it by just using the ATMs.

The procedures for deposits and withdrawals under USD 900,00 are safe and straightforward.

Conclusion

It’s not only how well the BNB token has performed during the last few months. The future of crypto is in mainstream adoption, and CoinFlip’s ATMs have the potential to facilitate that process considerably. And now, BNB is in that mix thanks to its partnership.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.