Erik Voorhees always seems slightly out of step. An early evangelist for the tech, Voorhees may be a rarity in that he has not only maintained but grown his relevance on the industry stage, all the while fighting for an unpopular block size increase and launching projects that seem years ahead of their time. Still, controversy seems not to catch this sly fox, as 2017 saw a victory lap for Voorhees, who emerged as one of the few early advocates who's been able to adapt to its changes.
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Sunday, December 31, 2017
Amber Baldet
In darkness or in light? Either way, Baldet seems right at home whether she's onstage at a banking conference or somewhere in the islands, posing for pictures at an "ethereum unicorn party." Will she emerge as a real deal innovator? Or is she the ultimate imposter banking infiltrator? While Baldet's story is yet to be told, her association with one of the largest banks in the world, and power position on its so far compelling blockchain efforts are more than enough to enthrall imaginations.
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Jihan Wu
Master of the ASICBoost, conjurer of Antbleed... Perhaps no character in the pantheon of industry leaders has been the subject of more conspiracy theories than Mr. Wu, a passionate bitcoin believer who's been reviled for his views. The young co-founder of Chinese mining giant Bitmain, he might not exactly be the villain we all believe. But, what might be for certain is that if there's a title for "most misunderstood," Wu would win hands down.
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Bitcoin Sign Guy
The man behind the sign steps into the light to reveal his motives. In a year beset by savage infighting, Bitcoin Sign Guy took a stand, with a small action that not only broke the internet, but raised the spirits of a beleaguered bitcoin community then ravaged by a years-long intellectual war. Were we all Satoshi? Maybe not in 2017. But, we were all "Bitcoin Sign Guy." Read more:
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Jamie Dimon
"Bitcoin is a fraud." Four small words ignited a maelstrom when JPMorgan CEO Jamie Dimon took the stage at a conference in September. The blockchain world was never quite the same again. In response, bitcoin became the talk of Wall Street, and in that dialogue a beast was unleashed that maybe ... just maybe ... took bitcoin out of obscurity, to its new peaks above $10,000.
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Charlie Lee
It's good to be Charlie. After years of working at the first "Bitcoin Unicorn," Lee stepped out on his own in 2017 to take up arms against those who would delay bitcoin technical development. His weapon? The cryptocurrency network: litecoin. With the network – once languishing, now revitalized – Lee pulled no punches, becoming the opinionated voice of reason in a market that's known for its insanity.
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Naval Ravikant
If crypto assets really are the "Craziest Bubble Ever," then Naval Ravikant is the movement's elder statesman. The founder of AngelList, Ravikant didn't talk much about startups in 2017, instead preaching the gospel of the ICO on Twitter in 140-character bursts that were part roadmap and part prophecy for a burgeoning industry. In the process, he helped open doors for a new wave of innovative cryptocurrency projects, giving a vital boost to an industry that had all but been locked out of Silicon Valley following bitcoin's 2015 correction.
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Joe Lubin
Part sheriff? Part outlaw? Either way, Joe Lubin appears right at home in the "Wild West" of cryptocurrencies. The leader of a company that's part ethereum project incubator, part change-the-world commune, Lubin showed no shortage of influence in 2017, launching some of the first successful ethereum tokens and winning over countless enterprises to the platform. If Vitalik envisioned the new world, Joe Lubin just might be colonizing it.
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Yao Qian
Call it the biggest short in history. China took plenty of actions against cryptocurrencies in 2017, banning ICOs, shutting down domestic exchanges and all but taking a match to what was once one of the industry's largest and most thriving ecosystems. But if China is setting a course apart from the world, Yao Qian may be its biggest asset. The man in charge of rethinking bitcoin on behalf of the world's largest state isn't just empowered, he seems to know crypto inside and out.
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Pieter Wuille
Speak softly and carry a big SegWit? If bitcoin saw its biggest and most controversial change this summer, the evolution can all be traced back to one developer. Still, the founder of the controversial startup Blockstream and the network's most prodigious coder, Pieter Wuille, is a bit of a mystery. In an industry with no shortage of egos and bluster, though, Wuille is a rarity, choosing to let his code do the talking for him.
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ICOs Raised $4 Bln in 2017, What 2018 Has in Store
In 2017 ICOs raised less than 2% of global IPO proceed but almost 40 times more than year ago
2017 has definitely been a record-breaking year for ICOs: a fiat equivalent of some $4 bln have been raised, and the number of successful token placements have increased to a couple of hundreds globally. Yet, in the same year, traditional IPOs are estimated to have raised $188.8 bln in total of 1,624 deals, according to E&Y IPO Global trends report. Only in third quarter, 2,645 venture capital deals amounted to $42 bln.
ICOs have raised less about two percent of global IPO proceeds, but ICOs not IPOs, and not venture capital deals, are the talk of the street these days. Why?
In one year only ICOs proceeds have surged almost 40-fold, from $96.3 mln in 2016. In 2014- 2015 the amount was microscopic. More than 180 new ICOs are scheduled to launch in 2018, according to ICObench listing.
It would be superficial and arrogant to explain the ICO explosion only by desire of newly-rich crypto-miners to invest their unexpectedly reevaluated digital assets in something productive and to protect themselves against volatility. It may be the case, but it doesn’t explain the whole case. In fact, there are three root causes of ICO success.
The good reason
ICOs and cryptocurrencies exploit fundamental flaws of the traditional funding methodologies. They bring justice and equality to projects from underprivileged geographies, sectors, and don’t rob founders’ share while doing so.
Traditional financing is tilted towards an intermediary, not a creator, and it is designed to lower the risks of that intermediary, not the investor or founder while maximizing intermediary’s yields. It basically works around the principle of Matthew 12:15 - “Whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them.” Simply saying, it takes money to get more money.
Classic venture financing is orders of magnitude harder to achieve for those who live outside global hub cities. Most US funds won’t even consider financing an enterprise not domiciled in the US. Venture capitalists normally claim a hefty part of the equity in exchange for the money, so investors, irrespectively of their share, greatly influence the decision making of the founding team, and not always for good.
The first answer to these problems were crowdfunding platforms. ICOs have just made another step towards reducing the friction behind crowdfunding, de-intermediating it further.
The bad reason
Getting venture financing, let alone reaching for IPO afterwards, requires the team to distract themselves from the product development, marketing and promotion. Compliance, legal and due diligence procedures make the auxiliary mission of securing the funds for the project a separate task, as complicated or even more complicated than launching the product itself.
It’s not the only reason behind the ICO triumph.
Despite cyber-anarchists’ wet dreams, states won’t go anywhere anytime soon, and legal norms for ICO didn’t appear out of thin air. As they say in the military, service regulations are written in blood – of those who died to teach others a lesson. Stock exchanges and financial markets are regulated not exclusively to keep the profanes out. It is because most scams, frauds and crashes have already happened there. Sooner or later, ICOs will be regulated. And we should rather be a part of the solution to this problem, not the problem itself.
The ugly reason
In ideal post-Blockchain smart-contract, self-governing, crypto-anarchic world, imagined by technophiles, we should all be singing “Hosannas” by now, praising human progress and ingenuity.
But we wouldn’t be humans if a life-changing invention weren’t used to cheat, defraud and steal. Cryptocurrencies and subsequently ICOs aren’t an exception, and there are and always will be frauds of course. Traditional financing doesn’t necessarily offer substantially better investor protection. Even the most stringent due diligence doesn’t guarantee against fraud. Crypto investment schemes are especially prone to it because of anonymity.
ICO segment is still in its infancy, yet this baby is gaining weight alright. Childhood illnesses are many. First and foremost, crypto world has a severe reputation problem. The SEC calls for extreme precaution when investing in ICOs. To gain trust, we should start from within, and establish it first with the community.
Even in the absence of governmental regulations, self-regulation framework of ICOs will inevitably arise. Moreover, to avoid overregulation and unnecessary intervention of governments, it is essential that the community keeps policing itself better than any regulator. That’s exactly where the sector is headed – otherwise, it won’t survive.
What to expect in 2018
In coming year ICOs will offer more projects to serve the broader community, not limiting itself anymore to the Blockchain infrastructure development, payments and speculative trading. It will less much less revolve around purely financial technology. In 2017, we have already seen examples of Blockchain notary public, Blockchain-based real estate investment, loyalty programs, supply chain management, intellectual property rights management and other real-world applications. We’ll see more of that in 2018.
- By Sergi Dromo
Sergi Dromo is a cyber pessimist, techno-philosopher and unorthodox thinker.
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As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It
The post As Prices Dip, Bitcoin’s Market Dominance Slips Towards New Low–and the Market is Better for It appeared first on CCN
It’s dipping season, folks. Well, it was dipping season. Yesterday, assets all across the cryptocurrency market were getting hammered, and the ubiquitous price dent had 89 out of Coin Market Cap’s top 100 turning red at the time of our first draft’s initial coverage. During this latest dip, Bitcoin went sub $13k. As of press
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Culture Shock: Bitcoin a Part of All Walks of Life in 2017
2017 saw Bitcoin permeate all walks of life, from Google searches to sold-out graphics cards.
2017 will go down as the biggest year in Bitcoin’s history - with meteoric highs paving the way for the preeminent cryptocurrency bursting into mainstream consciousness.
December will forever be remembered for Bitcoin’s massive price correction after hitting the $20,000 milestone, but a lot happened in the lead up to the climactic end of the year.
Rewind to January 2017. Bitcoin had just broken through the $1,000 barrier and the talk among crypto enthusiasts was that the virtual currency was set for a bullish year. It’s fair to say that no one anticipated an eventual 2,000 percent growth before the market correction, but the statistics will tell a different story.
Google stats
A quick glance at Google Trend’s analytic graph shows that interest in Bitcoin had a small peak in May, while it really started to garner interest worldwide around the time that SegWit2x was postponed and the Bitcoin bull run began.
It was, however, the second most searched news term globally in 2017, while it came up third in the often hilarious ‘how to’ search category.
Interestingly enough, the countries where Bitcoin was most often searched were not massive first world economies, but growing ones. South Africa topped the list, followed by Slovenia, Nigeria, Ghana then Australia.
Occupying top spots in Google’s search trends is no mean feat. It tells us that people were searching hard for information on Bitcoin, whether it was for the latest price updates or how to setup a Bitcoin wallet.
Bitcoin also occupied the number one spot for the most searched term on Investopedia - the world’s go-to encyclopedia for financial and economic terms and information.
Miners delight - cards in demand
As interest in Bitcoin and cryptocurrencies grew, the average PC gamer and overclocking enthusiast saw their chance to get in on the action by using their hardware to support the world’s mining operations.
Mining enthusiasts wasted no time getting in on the action which quickly led to a massive surge in demand for graphics cards - which are needed to solve the cryptographic puzzles that are used to validate transactions on cryptocurrency Blockchains.
Just half-way through 2017, graphics card manufacturers AMD struggled to keep up with the demand for cards.
Rivals Nvidia boasted superior stock prices this year and the adoption of Blockchain technologies by the likes of Uber and Airbnb led analysts to predict even greater growth as both chip manufacturers hold the key - hardware.
Nvidia’s stock price even mimicked Bitcoin price for the better part of the year - although the company was uncertain of its future in the market amid regulatory changes in China, which accounts for a large contingent of the world’s mining operations. Proposals were made to manufacture mining specific chips to protect the company from constantly changing consumer needs.
Bitcoin gets celebrity approval
Along with its newfound notoriety, Bitcoin and cryptocurrencies also got a celebrity stamp of approval in 2017.
Boxing superstar Floyd Mayweather grabbed headlines on numerous occasions, as he stepped in to promote a number of ICOs using the Ethereum Blockchain.
Football giant Leo Messi also joined the fray in an endorsement deal with Sirin Labs, which creates hardware to support Blockchain technology.
The list literally goes on and there are some surprising names here. Top of the list is rapper Snoop Dogg, alongside actors Gwyneth Paltrow and Ashton Kutcher.
Luxury items for sale
As Bitcoin boomed, more people looked to take advantage of the appreciation in value which saw some luxury items, from mansions to custom cars, go on sale - not in dollars, but in Bitcoin.
For the right price, people could get their hands on a golden Rolls Royce, a Caribbean island, an upmarket flat in England’s famous Notting Hill, or a mansion in Miami.
Trying to keep up
The explosion of interest in Bitcoin was a boon to the market but it also proved to be a massive stress test for exchanges, their servers, infrastructure and payment systems.
From November onwards, major exchanges like Coinbase, Gemini, Bitfinex and others had to upgrade their systems to meet the massive influx of new users trying to open up wallets on their exchanges.
This caused a major headache for many users due to the slow transaction speed. However, without the massive increase in volume, many of these exchanges may not have upgraded their systems - which is crucial in the development of more efficient exchanges.
Media spotlight
The ever-growing interest in Bitcoin inevitably led to the subject being covered more extensively by mainstream news outlets. The likes of CBNC, Fortune, Bloomberg, CNN and Fox to name but a few ramped up coverage on the subject.
Every other day, these media giants hosted financial analysts, cryptocurrency experts, Blockchain engineers, basically anyone with a wealth of knowledge on the subject to help inform opinion.
As mentioned above, Bitcoin was the second-most searched news term on Google - feeding traffic to these websites and their various interviews.
Financial experts like billionaire hedge fund manager Mike Novogratz and renowned stock analyst Ronnie Moas led the way in terms of price predictions. Meanwhile, traditional financial institutions like JP Morgan, Bank of France, Coutts Bank were staunchly opposed to cryptocurrency adoption - as was reported by numerous mainstream news outlets.
If 2017 was anything to go by, we are in for a bumper new year. The cryptocurrency market valuation is bound to be top of the list, but constant advances in Blockchain tech and new offerings should see crypto garner more media interest in 2018.
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Bitcoin Price Slightly Recovers as Ripple Market Cap Drops by $13 Billion
The post Bitcoin Price Slightly Recovers as Ripple Market Cap Drops by $13 Billion appeared first on CCN
The bitcoin price has slightly recovered to above $13,500 as the market valuation of Ripple dropped by $20 billion overnight. Major Shift in Trend Since December 30, Ripple has regained $7 billion in market cap and is still demonstrating a valuation significantly larger than Ethereum, the third most valuable cryptocurrency in the market. Over the
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2017: A Defining Year for Cryptocurrency Regulation
This Year in Review article look at some of the major regulatory developments from 2017.
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Where Are All the Quick Wins for Blockchain?
Was 2017 too long-term focused? Entrepreneur Tom Klein believes quick wins are what's needed to bootstrap corporate blockchains in 2018.
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Australian Bitcoin Investors Claim Banks are Shutting Down Their Accounts
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Bitcoin investors in Australia have claimed that major banks including National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation, have started to freeze the bank accounts of cryptocurrency traders without prior notice. Major Banks Called Out Earlier this week, Australian cryptocurrency trader Alex Saunder publicly called out all of the major
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Kidnapping of Bitcoin Exchange Executive Showed Importance of Financial Privacy
UK-based Bitcoin and cryptocurrency exchange Exmo Operator Pavel Lerner, who was kidnapped outside of his office in Kiev, Ukraine, on Dec. 28, has paid $1 mln in ransom to be set free.
The recent abduction of UK-based Bitcoin and cryptocurrency exchange Exmo Operator Pavel Lerner has demonstrated the importance of financial privacy for cryptocurrency users.
Earlier this week, BBC initially reported that Lerner kidnapped outside of his office in Kiev, Ukraine, on Dec. 28, by a group of individuals who dragged him at knife point to a black Mercedes and drove off the scene. At the time, Anatoliy Larin, the spokesperson of the exchange, stated:
"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel's job at Exmo doesn't assume access either to storages or any personal data of users. All users' funds are absolutely safe."
Within two days after the disappearance of Lerner, Financial Times revealed that Lerner has paid more than $1 mln to an armed gang as a price for his freedom. The advisor to the Ukrainian interior minister Anton Gerashchenko told FT:
“He was kidnapped by an armed gang for the purpose of extorting Bitcoins. We have operative information that he paid more than $1 mln worth of Bitcoins. [After one and a half days, he was] then released in a state of shock. ... He got very lucky that he remained alive.”
The Ukrainian National Police has officially opened a criminal case to investigate into the abduction of Lerner and to disclose the identities behind the attack.
While Exmo is a small Bitcoin exchange with only 94,000 active investors and a $125 mln daily trading volume, less than one percent of leading exchanges like Bithumb, Coinbase’s GDAX and Bitfinex, both the company and Ukrainian authorities believe that Lerner became a target of the armed gang because of his involvement in a Bitcoin venture.
Over the past 12 months, the price of Bitcoin has surged from $900 to $14,000, by nearly 14,000 percent. Thus, an increasing number of hackers and criminals have started to target large-scale cryptocurrency businesses and executives of Bitcoin companies.
Importance of financial privacy
During a presentation given at the Coinbase headquarters, Monero Lead Developer Riccardo Spagni, better known to the cryptocurrency community as FluffyPony, emphasized the importance of financial privacy for users and investors of all types.
He noted financial privacy on public Blockchain networks and cryptocurrencies is crucial in preventing sensitive information of users from being used for criminal activities, such as direct attacks, blackmailing, targeted advertising, and unwanted disclosure of assets, wealth and holdings.
In January 2017, when he gave the talk to Coinbase employees, FluffyPony jokingly stated that investors could become kidnapped for purchasing large amounts of Bitcoin at a local exchange.
“If we don’t have financial privacy, there are bad things that can happen. We might end up with targeted advertising based on spending habits. [Another example is] targeted crime against the wealthy. You go to a local Bitcoin exchange and next minute you’re held up at knife point. Even worse, you go and pay with Bitcoin for an item and now, the owner knows your bank balance,” said FluffyPony.
Dumbfoundingly, FluffyPony’s statement became a reality in Kiev, Ukraine, as Lerner became a direct target of an armed gang with a pre-established plan of extorting ransom in Bitcoin from the exchange operator.
However, the lack of privacy measures in Bitcoin also means that the criminals that have abducted Lerner cannot easily spend the money or sell it for cash because the transaction can be traced using the public Bitcoin Blockchain.
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Investors Still Wary of Bitcoin
Bitcoin is established, but many investors are still wary according to industry experts.
Setting aside a massive December price correction, Bitcoin has pushed its way into the minds of ordinary people all over the world.
Google stats for 2017 have Bitcoin as the second most searched news term of the year, as everyone from plucky investors, cryptocurrency newbies and diehard technologists look for the latest news and price updates on the lucrative cryptocurrency.
With a market capitalization of over $11 bln, Bitcoin has made many a millionaire with its rapid appreciation in value this year. Investors flocked to buy Bitcoin during its most recent bull run which started in November which saw the price skyrocket to an eventual high of $20,000.
The almost inevitable correction in the lead up to Christmas sent jitters through the market and many investors will have lamented the dramatic drop in price.
It's not surprising to hear financial analysts and industry experts describe an apathy towards the market due to the volatility seen in recent weeks. Both big businesses and individual investors still seem wary of putting their money into cryptocurrencies.
Small players
Speaking to CNBC this week, American billionaire Tilman Fertitta, who made his fortune as a restauranteur, believes the average man won’t go near Bitcoin until they have some sort of insurance.
"They don't have the money. It's just paper. That's all Bitcoin is, is paper, but it's not insured by the FDIC today. And until it's insured, a lot of people are never going to buy it.”
Nevertheless, the 60-year-old isn’t opposed to the idea of Bitcoin becoming a widely accepted payment method in the future, even by some of his businesses, ranging from casinos, hotels to restaurants.
"I mean, I remember somebody walking into my office and saying, 'The world's going to change. There's this thing called the Internet.' And that wasn't that long ago. So we have to remember this. It's just something new and everything moves at a quicker pace today."
Big players
Larger financial institutions have already entered the cryptocurrency fray after the launch of Bitcoin futures contracts on CBOE and CME trading exchanges. The NASDAQ and Goldman Sachs are also set to jump onboard in 2018 - paving the way for wider mainstream adoption.
Nevertheless there still seems to be a reluctance for bigger corporate players to invest some serious capital into the market.
In an interview with CNBC this week, head of currency and forex technology company FiREapps Wolfgang Koester said big companies want a less speculative environment,
FiREapps provide insights into the likes of Google and Ericsson, but Koester says big companies will not invest in current cryptocurrencies and are waiting for state-issued digital currencies, backed by regulation.
"They are saying we can't get involved with Bitcoin, but we like the idea of Bitcoin and others. We like speedy transactions at a lower cost. They are waiting for governments to issue those digital currencies so that they can take advantage.”
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2017 Review: The Year Cryptocurrencies Seized the Mainstream Spotlight
The post 2017 Review: The Year Cryptocurrencies Seized the Mainstream Spotlight appeared first on CCN
It's a warp. Cryptocurrency surges, forks, regulations and naysayers, notwithstanding.-
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Bitcoin Headed ‘Below $5k,’ Is ‘One Of Silliest Things’ - Dennis Gartman To CNBC
New bear warnings on Bitcoin have come from ex-commodities trader Dennis Gartman, who thinks it is going below $5,000.
Gartman Letter creator and former trader Dennis Gartman has said Bitcoin will trade “below $5,000” and that it is “one of the silliest things in a long time.”
In two appearances on newly Bitcoin-bearish TV network CNBC, Gartman stressed the implausibility of the virtual currency and said he would have no contact or exposure to it.
“I'm very bearish on Bitcoin, I think it's one of the silliest ideas I've heard in a long time," he told its Futures Now segment Saturday.
Speaking on Worldwide Exchange previously, Gartman added Bitcoin makes “no sense whatsoever.”
“I won't trade it. I won't be long of it. I won't be short of it,” he announced, failing to see the merits of “some sort of an asset that has no real asset value behind it.”
The Wall Street veteran’s perspective is typical of the highly critical approach a diminishing number of traditional finance figures continue to hold on Bitcoin.
While some of the most famous naysayers have either U-turned or quietened down on the topic, some, including central bank chiefs and even entire governments, maintain that it will evaporate.
For its part, while previously adopting a neutral stance on Bitcoin, CNBC recently turned the tables dramatically, publishing practically all warnings about investing in it while championing the alleged benefits of an altcoin, Bitcoin Cash.
The network’s Fast Money segment has been especially vocal, its Twitter account causing a stir when it published pro-Bitcoin Cash material some considered was verging on aggressive in nature.
#bitcoin closing out 2017 on a .... http://pic.twitter.com/iSXHLWU0mX
— CNBC's Fast Money (@CNBCFastMoney) December 30, 2017
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South Korea Enacts Rules Regulating Cryptocurrency
The South Korean government has announced a number of new restrictions on cryptocurrency trading amid a surge of crypto popularity by the South Korean public. The government claims these rules are designed to control fraud and to protect the public from losses incurred from wild price fluctuations. Bitcoin prices fell 11 percent after the announcement, but have since recovered.
“The government has warned several times that virtual coins cannot play a role as real currency and could result in high losses due to excessive volatility,” the government statement reads.
The new regulations require South Koreans to use their real identities when trading, prohibit minors from opening exchange accounts, and ban banks from offering crypto trading. The South Korean Justice Department has also recommended new laws be enacted that enable it to shut down exchanges. These new rules add to government statements earlier this month indicating that crypto profits would be taxed as capital gains.
The South Korean government has long been considered hostile to crypto adoption. In September the nation’s Financial Services Commission banned ICOs and margin trading, and rumors have swirled for several months that cryptocurrency may be banned outright. Nevertheless, the South Korean public has embraced crypto, and appears poised to make its use mainstream regardless of government actions.
The situation in South Korea thus represents a common disconnect many governments have with their constituents on crypto adoption. Actions by public officials and financial regulators to thwart cryptocurrency adoption are generally ignored by citizens eager to own and use it. Additionally, the new regulations reflect common misunderstandings by officials over the nature of blockchain assets. Simply put, it is effectively impossible to prevent anonymous crypto trading, or to limit its use to adults.
South Korea has, nevertheless, opened the door to crypto regulation, a move long supported by crypto advocates. Although largely unenforceable, these new statutes demonstrate that the South Korean government is taking cryptocurrency seriously, and recognizes it, albeit reluctantly, as a new asset class. It should thus be considered only a matter of time before more reasonable regulations are put into place.
Of critical importance is the understanding that the development of cryptocurrency is merely one component of the blockchain revolution. Blockchains are universally praised as groundbreaking technology, and will soon be commonplace in government, business, and other institutions. Thus, the digital assets that make blockchains possible must be handled by governments in a realistic manner. The sooner governments come to accept this fact the more effective regulations will be.
It is likely that even the South Korean officials that have enacted these regulations understand that they are largely unenforceable, and will be modified or replaced as crypto use increases. These rules should thus best be seen as a stopgap response by a government that is losing control of its currency and what its citizens consider assets. The same phenomenon is, of course, happening across the globe, No doubt government responses will be similar in the short term. Nevertheless, cryptocurrency, and its underlying technology, has proven its value and relevance. Thus, its growth will no doubt continue unabated.
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$1 Million Bitcoin Ransom Reportedly Paid for Kidnapped EXMO Executive
The post $1 Million Bitcoin Ransom Reportedly Paid for Kidnapped EXMO Executive appeared first on CCN
On December 26, 40-year-old IT specialist and bitcoin exchange executive Pavel Lerner was kidnapped in Kiev, Ukraine. He was reportedly forced into a Mercedes-Benz Vito by unknown assailants wearing dark clothes and balaclavas. Lerner, a leading analyst at cryptocurrency exchange EXMO, stopped answering the phone after leaving the company’s offices. Speaking to Reuters, Anton Gerashchenko, an
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Most Valuable AI Medical Blockchain Project AIDOC Officially Launched
The post Most Valuable AI Medical Blockchain Project AIDOC Officially Launched appeared first on CCN
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
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Cloak’s Transaction System Enigma Is Open Source – A Milestone for Privacy
The post Cloak’s Transaction System Enigma Is Open Source – A Milestone for Privacy appeared first on CCN
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
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Bitcoin Facing Decisive Year in 2018, Says Legendary Investor
The post Bitcoin Facing Decisive Year in 2018, Says Legendary Investor appeared first on CCN
Elevation Partners co-founder and tech investing legend Roger McNamee said that he believes 2018 will be a decisive year for bitcoin. Why 2018 is Decisive for Bitcoin Speaking with CNBC, McNamee — an early Facebook investor — explained that next year will be crucial in determining whether bitcoin’s ascent is sustainable over the long-term or
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Crypto Market Crash - Not The New Year’s Present Everyone Hoped For
Most of the cryptocurrencies have lost a lot of value over the past two days, including the majority of top-20 by market cap, followed by a slight recovery today.
The cryptocurrency market has experienced a powerful drop this Friday and Saturday. Coins were losing value across the board, with just three of the top twenty by market capitalization displaying growth of over 10 percent: Cardano, Qtum and Neo.
Bitcoin, on the other hand, has dropped from a Friday high of $15,266 to as low as $12,350 on Saturday. The past two weeks have been very volatile for the original cryptocurrency, as it has achieved an all-time high of $20,000 on Dec. 17, 2017, only to hold it for a single day and consequently lose about 32 percent of that value, as of press time.
The latest fall seems to be the continuation of that trend, with no recovery in sight yet.
Ripple, which has just recently displaced Ethereum as the highest altcoin by market capitalization, has similarly dropped by at least 20 percent over the past two days. Despite experiencing a powerful surge this week, it hasn’t been spared from the “crypto massacre.”
Fortunately for holders of Ethereum, its drop has been less prominent. A fall from $769 to $685, constituting just an 11 percent loss of value, compares much more favorably to the performance of Bitcoin and Ripple. Especially if you consider the slight recovery of 2.22 percent over the past 24 hours.
Overall, 2017 has been a good year for Ethereum, seeing the coin rise from mere $8 to its own all-time high of $750 and beyond, and so far it seems to be maintaining that dynamic.
Other prominent cryptocurrencies have also lost value over the past two days, including Bitcoin Cash, Litecoin, NEM, Dash, Monero, and others. This year has been very positive for the vast majority of coins, possibly indicating that the crash of the past two days is a temporary retracement of that progress, which may be followed by resumed growth.
As of press time, most cryptocurrencies have either started growing or slowed down their downward trends.
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Saturday, December 30, 2017
China on a Blockchain? Maybe in 2018
China may have moved to ban crypto activities in 2017, but that doesn't mean the country won't be a major player in the year ahead.
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(+) Stop Strategy Hunting Now!
The post (+) Stop Strategy Hunting Now! appeared first on CCN
The post (+) Stop Strategy Hunting Now! appeared first on CCN
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Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash, Monero: Price Analysis, Dec. 30
Our last price analysis this year. See what price movement to expect and what orders to make during the holidays.
The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Cryptocurrencies have generated wealth for the traders like no other asset class. While Bitcoin has garnered most of the attention, it is not the only one to have risen in 2017. There have been scores of winners.
Ethereum was the second leading currencies aiming to overtake Bitcoin as the dominant leader of the year; it could never really achieve the feat.
However, within the past two weeks, Ripple has skyrocketed from a low of $0.22 on Dec. 10, to a high of $2.47 today. That’s a whopping rally of 1024 percent within a span of 20 days.
As a result, Ripple has now overtaken Ethereum as the second most valuable currency by market capitalization.
Bitcoin’s dominance, which had risen above 60 percent just a few weeks back has again cooled off to 38.3 percent.
As the market matures, we are likely to see a number of changes in the rankings of these currencies. Therefore, one has to keep an open mind towards all the cryptocurrencies because as traders; our main goal is to earn money.
So, do we have any good buy setups for the end of the year or is it best to remain on the sidelines and enjoy the holidays, returning to trade in the new year? Let’s find out.
BTC/USD
We expected a pullback from the trendline, however, due to lack of buyers, the recovery never gained strength. Today, the bears easily broke below the trendline support, which has escalated the selling.
However, we don’t expect to see such a plunge in the short-term.
We believe that the bulls will attempt to defend the recent lows of $10,704.99. But if they fail, the bears are likely to intensify their selling. A number of long positions will start to bleed, which is likely to lead to panic selling. We see another support at the $8,000 mark.
All these lower levels will come into play only if the BTC/USD pair breaks and sustains below the 50-day SMA.
Contrarily, if the bears are unable to breakdown of the 50-day SMA, we may see a recovery in the new year. Yet, we will prefer to wait until the digital currency breaks out of the downtrend line to initiate any position. We don’t find any trades at the current price.
ETH/USD
We mentioned that Ethereum will become positive in the short-term only on a breakout and close above the downtrend line. Yesterday, the bulls broke out of the trendline but could not manage a close above it.
Between the 20-day EMA and $760, we are likely to witness a volatile range-bound trading action.
Therefore, we suggest waiting until we get a clear breakout and a confirmation of the resumption of the uptrend.
BCH/USD
For the past two days, the bulls had been defending the $2300 mark. But their attempt to resume the rally failed yesterday.
We expect a strong buying around the $1,733 levels. Nonetheless, we recommend waiting until there is a clear bottom in sight.
Consider avoiding buying in a falling market.
XRP/USD
Ripple roared past our initial target objective of $1.5. Today, it reached an intraday high of $2.474.
After such a stellar rally, we expect the XRP/USD pair to enter into a correction or a consolidation. Therefore, we don’t have any fresh buy recommendations on it.
IOTA/USD
The bulls have successfully held on to the lower end of the range at $3.032 for the past few days. However, they have not been able to push the cryptocurrency higher.
Yet, if the bulls manage to hold the supports once again today, IOTA will continue to trade inside the range. We shall initiate buy positions only on a breakout and close above the downtrend line. Until then, we shall remain on the sidelines.
LTC/USD
The bears have broken below the neckline of the head and shoulders pattern. Unless the bulls stage takes a sharp recovery today, chances are that Litecoin will continue lower in the next few days.
However, if both these levels fail to hold, the LTC/USD pair will fall towards $110, which is the target objective of the breakdown of the head and shoulders pattern.
Our bearish view will be invalidated if the bulls manage to push the digital currency above the neckline at $240.
DASH/USD
For the past two days, the bulls managed to hold on to the 20-day EMA. But today, the bears have broken below the moving average support.
Though we shall avoid buying until we get a confirmation of a bottom formation because if the trendline breaks, the DASH/USD pair can fall to $800 and thereafter to $650 levels.
XMR/USD
We were expecting a range-bound trading action in Monero. Despite that, the bears have taken control and have broken below the 20-day EMA today, which is a bearish development.
We expect a strong support in this zone. At the same time, we don’t suggest buying until the fall is arrested.
When the markets are in a bear grip, it is a good strategy to wait until the decline ends, instead of being brave and attempting to catch a falling knife.
The market data is provided by TradingView.
Note from the author
A word on the exchanges used for our analysis given the increasing number of questions.
We follow different exchanges for the cryptocurrencies. You can see the name of the exchange on the top left corner of every chart (marked with an ellipse in the chart below).
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US Dollar Will End 2017 as Worst Year Since 2003, While Bitcoin is Up 1,372%
The US dollar is set to end 2017 recording the largest decline in its value since 2003, while Bitcoin is en route to ending the year with a 1,372 percent increase.
The US dollar has recorded the largest annual decline in value since 2003 and is forecasted to end 2017 at a three-month low against other major currencies like the Chinese yuan and Japanese yen.
Separating money and state
Meanwhile, Bitcoin, the most valuable cryptocurrency in the market with a $227 bln market valuation, is en route to ending the year recording a 1,341 percent increase in value, as one of the most profitable cryptocurrency in the global market behind Ripple, Litecoin, Dash and Ethereum.
Several analysts such as Chris Gaffney, president of World Markets at EverBank, told Reuters that the value of US dollar would likely further decline throughout 2018, with no signs of short-term recovery.
“The dollar will face more headwinds in 2018. The Fed won’t be going at it alone in terms of taking off more gas from the stimulus pedal.”
Jens Nordvig, CEO of Exante Data, also told CNBC that while it would be normal for analysts to expect a recovery after such a large loss in value, this time, most analysts have a negative bias on the US dollar.
Nordvig said, emphasizing the rapid growth rate of the global economy and key players like China:
"We have a negative bias on the dollar, which is extraordinary considering that interest rates are going to rise at a very good clip. It got too strong before January, and the other factor is that global growth is very strong.”
Long-time Bitcoin investors and cryptocurrency researchers believe that the rise of cryptocurrencies as a new emerging asset class is playing a small role in the decline of fiat currencies across the globe, by separating money and state.
For many decades, governments have had absolute control over the global monetary system, especially of the fiat currency system with which they can easily manipulate the supply of circulating money.
In November, ShapeShift CEO Erik Voorhees noted that Bitcoin is continuing to grow in terms of market valuation, user base and user activity because as a decentralized currency and store of value, it is providing an alternative financial network to the fiat currency system. Voorhees said:
“Why does Bitcoin keep growing? Because it's time to separate money and state.”
In response to a criticism of the abovementioned statement, Voorhees added that although short-term price bubbles in the Bitcoin and cryptocurrency markets are fueled by greed, long-term price growth demonstrates the demand for non-state finance. He explained:
“The short-term price bubbles are full-on speculation, agreed. But the long-term increase in value and price is due to the fundamental utility of non-state finance.”
Most important chart
Earlier this month, Zerohedge released a chart entitled “The Most Important Chart in the World,” which demonstrated the decline in the value of the US Treasury since 1987. While Bitcoin has recorded consistent gains throughout its eight-year history with the exception of 2014, since more than 30 years ago, the US Treasury has been on a decline.
Consequently, analysts have started to evaluate the long-term bubbles in the traditional finance industry, and whether emerging assets like Bitcoin should be described as bubbles or traditional assets that have been on a decline for many decades should be considered as long-lasting bubbles.
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Ripple Briefly Achieves $100 Billion Market Cap, Can it be Justified?
The post Ripple Briefly Achieves $100 Billion Market Cap, Can it be Justified? appeared first on CCN
Ripple, the cryptocurrency that was designed to handle large volumes of transactions for banks and financial institutions, recently surpassed Ethereum to achieve a staggering $100 billion market cap. Justification of Ripple’s Market Cap However, some experts including Ryan Selkis of ConsenSys revealed that it is difficult to justify the market cap of Ripple at this
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Ripple Becomes Largest Altcoin As Bitcoiners Issue Warnings
Ripple is causing a stir on both the markets and social media as its price continues to explode.
Ripple (XRP) has overtaken Ethereum as the largest altcoin by market cap in a surge which has divided the cryptocurrency community.
After the payment network’s token reached as much as $2.65 on some exchanges this week, investors are celebrating returns which have topped 1,000 percent in just three weeks. At the start of December, XRP traded at just $0.24.
Multiple altcoins have seen astronomical gains towards the end of this year as Bitcoin’s own surge fueled copycat behavior which saw new all-time highs for assets including Monero, Ethereum and Ethereum Classic.
With a market cap of $91 bln at press time Saturday, however, it is XRP that has stolen the show from Ethereum, which currently has a market cap of $68 bln. Meanwhile, Bitcoin’s overall market share has sunk to new all-time lows below 38 percent.
Reasons for Ripple’s rise revolve around new partnerships with traditional finance, institutions keen to leverage its technology to cut costs and save time.
Despite its newfound successes, however, Bitcoin figures appear wearier than ever, highlighting the project’s centralized structure and comparative lack of use cases for XRP versus the platform itself.
“There is a clear mispricing here between the (past) and the (future),” BitFury CEO George Kikvadze commented on Twitter Friday.
Ripple - Centralised Solution; Trust in One Company - Worth $100Bln?
— George Kikvadze (@BitfuryGeorge) December 30, 2017
Bitcoin - Decentralised Solution; Trust in Mathematics and Cryptography - Worth $235Bln?
There is a clear mispricing here between the PAST and the FUTURE
Popular personality WhalePanda meanwhile went further, comparing Ripple’s ethos in terms of bonafide Blockchain qualities to notorious MMM scheme OneCoin.
If you really believe Ripple, which isnt even a blockchain project, is the future of cryptocurrencies... then I have some Bitconnect and Onecoin to sell to you.
— WhalePanda (@WhalePanda) December 30, 2017
Placeholder VC’s Chris Burniske and Blockchain technologist Preston Byrne also voiced concerns about the rate of XRP’s growth.
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SegWit2x Version 2.0 - a Farce?
The ‘revival’ of the supposed SegWit2x Bitcoin fork seems highly suspicious.
If we are to believe what we are told - the Bitcoin Blockchain has forked once again after the revival of SegWit2x.
The fork, which was abandoned in November due to a lack of consensus among original signatories of the New York Agreement, proposed an increase in Bitcoin’s block size from 1mb to 2mb in an effort to improve its scalability.
Much like Coinbase’s surprise announcement of Bitcoin Cash support a week ago, SegWit2x’s revival popped up on the internet courtesy of a new website, headed up by a completely new team of developers from those that had worked on the original SegWit2x code.
The developers celebrated the launch of SegWit2x at block number 501451 on Dec. 28, although potential users will only have access to the new B2X coins on Jan. 15, 2018.
The Long Awaited Launch of New Bitcoin SegWit2X Fork Finally Took Place! http://pic.twitter.com/GC46rYFoOI
— Segwit2X (@Segwit_2X) December 28, 2017
According to the website, B2X features will include a unique address format, a two and a half minute block generation rate while the mining complexity will be recalculated after each new block is generated.
Furthermore, the block size will be increased to four mb, as opposed to the original two mb proposition by the original SegWit2x developers. Replay protection is also being touted, which was a major shortcoming in the proposed fork a few months ago.
All of this sounds great - but it actually sounds too good to be true.
Outlandish promises of Satoshi Nakamoto’s premined Bitcoin
In addition to their proposed changes, the developers have promised to give users a share of 2 million B2X coins, which they claim stem from Satoshi Nakamoto’s original pre-mined Bitcoin. Like Bitcoin, B2X will have a 21 mln coin cap.
We are told that supporters of the fork will get a share of Nakamoto’s originally mined Bitcoin, converted to B2X at a 1:1 ratio.
“In addition, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support hardfork! By “Bitcoin of Satoshi Nakamoto” we mean what the founder and chief developer of Bitcoin [BTC] mined at the time of zero network activity. They will be credited to the crypto-exchanges and wallets of our partners gradually. The list of partners will be constantly updated on our website! Even if Satoshi Nakamoto wants to get B2X for his pre-mining, he is not able to do this, as we blocked the initial blocks for conversion to Bitcoin SegWit2X. It is worth noting that this present to users who supported us will be credited sometime after the basic conversion 1:1”
Furthermore, the developers insist that only those two mln coins will be premined.
“Satoshi Nakamoto’s Bitcoin [BTC] will be mined and distributed proportionally to all Bitcoin holders on the crypto-exchanges and wallets of our partners (2 mln). There will be no additional pre-mining!”
As Cointelegraph reported on December 28, the SegWit2x GitHub repository actually shows that six mln coins will be premined - with three different addresses committed in the code at different block heights.
The picture below shows two of the three different pre-mine commands going to different wallet addresses.
Pump and dump fears
Pump and dump fearsWhat this suggests is that the developers will have access to 6 mln B2X coins when trading begins, giving them a massive amount of power over the valuation and supply of the newly-forked cryptocurrency.
If and when people start trading B2X, there is a chance that the developers could pull a ‘pump and dump’ move, selling their new coins at inflated prices, making quick returns on coins that they’d premined.
According to Investopedia, this practice is a scam and is illegal.
Futures trading
Another factor that points towards fishy behavior is the fact that B2X futures contracts are already available on some exchanges - meaning people have started betting on future valuations of the cryptocurrency.
An insider could stand to make some massive short-term gains - with those futures having launched on Dec. 19, according to the website:
“Already now, Bitcoin SegWit2X futures [B2X] are traded on large crypto-exchanges, the list of which is constantly replenished. Stay tuned for updates on our website and social channels!”
Coinmarketcap data shows that futures trading of B2X has been highly volatile - after hitting a high $1205.05 on Dec. 27. That has now dropped to $272.25 as of Dec. 30:
![SegWit2x [Futures] Charts](//cointelegraph.com/storage/uploads/view/bd95ff96d504e28c6eea1c54e419e2eb.jpeg "SegWit2x [Futures] Charts")
Wallet support
![SegWit2x [Futures] Charts](http://cointelegraph.com/storage/uploads/view/bd95ff96d504e28c6eea1c54e419e2eb.jpeg "SegWit2x [Futures] Charts")
Wallet supportB2X will be supported by FreeWallet and Zumminer, but other wallet providers like Trezor have distanced themselves from the project on their Reddit page. It’s also bizarre to see that exchanges like Coinbase have not made any statements about the new launch.
Draw your own conclusions
Draw your own conclusionsAll of this information could point to an outright scam. A completely different team of developers seem to have hopped on the SegWit2x bandwagon, hijacked the name and are looking to make a quick buck out of gullible and uninformed investors.
Their website may look legitimate, but poke around enough and there are holes everywhere.
The fact that most of the largest cryptocurrency exchanges have not even recognized the fork or the new B2X coin shows that the legitimacy of the fork is questionable at best.
It will be interesting to see what the coins are trading at on Jan. 15 - and how the wider cryptocurrency community reacts.
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Bitcoin Price Dips Below $13,000 Again, as Ripple Records Massive Gains
The post Bitcoin Price Dips Below $13,000 Again, as Ripple Records Massive Gains appeared first on CCN
The bitcoin price has dipped below $13,000 for the second time in December, following the December 23 correction which led the price of bitcoin to plummet to $11,500. Bitcoin Dominance Index at 37.9 Percent Analysts have attributed the recent decline in the price of bitcoin to the unexpected surge in the valuation of several cryptocurrencies
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What DAO? Charting Ether's Epic 2017 Price Climb
Ether's price began 2017 below $10, shooting to as high as $800 earlier this month.
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Top 10 Companies of the Blockchain Industry in 2017
Here are the most successful companies and projects by market capitalization this year.
2017 was definitely the year of Blockchain and cryptocurrencies. Bitcoin has surged from more than $950 at the beginning of the year to as high as $20,000.
The total market capitalization of all the cryptocurrencies hit the $600 bln mark in December.
We also saw an enormous growth in the number of the Initial Coin Offerings - from one or two a week in 2016, to dozens of ICOs in seven days in 2017.
Cointelegraph is launching the “New Year’s Special” series of articles to highlight the results of this year and to get ready for the upcoming 2018.
In this article, let’s have a look at companies that have performed better than others during this remarkable year for the industry.
Ethereum
Market capitalization: $73 bln
Ethereum is a decentralized platform that works with smart contracts. Smart contracts allow making agreements that are executed automatically without any human interaction.
Vitalik Buterin, the winner of 2014 World Technology Award, and Jeffrey Wilcke, the former Vice President of Amazon, launched the project July 30, 2015.
In 2017, every three out of four projects were performed on the Ethereum platform, making it the most popular platform for ICO over the year.
Around 13 mln people use its services. Its token, ETH, is currently the third among all the currencies after Bitcoin and Ripple in market cap.
Vitalik Buterin
Jeffrey Wilcke
Vitalik Buterin was also listed among Bloomberg’s Top 50 Most Influential People this year.
IOTA
Market capitalization: approx. $15 bln
IOTA is an open-source distributed ledger specialized in the Internet of Things. This system has no transaction fees, low confirmation time and is stable regardless the number of transactions since its technology is based on an innovative consensus model “Tangle.” This model does not have blocks, chains and miners. If you want to make a transaction, you have to approve two previous transactions pointed by the system. These actions prove that all nodes have the same current state.
The project was launched in July 2016 by David Sønstebø, a serial entrepreneur and Dominik Schiener.
In November 2017, IOTA partnered with PwC, Microsoft, Deutsche Telekom and others for data monetization program.
The company also received significant investments from the Bosch Group this year.
David Sønstebø
Dominik Schiener
Up to November 2017, IOTA platform’s had over 65,000 users.
Coinbase
Market capitalization: $2 bln (GDAX)
Coinbase is one of the top digital currency wallet and platform for exchange. A simple announcement that Coinbase is going to launch support for Bitcoin Cash significantly affected the BCH price. The platform is one of the three Blockchain projects that got BitLicense, the business license issued by New York State Department of Financial Services. In 2016, it was transformed to GDAX, the Global Digital Asset Exchange.
The exchange is the first Bitcoin exchange licensed in the US which proves its actions are reliable due to the close supervision of the Securities and Exchange Commission.
Brian Armstrong, who worked with Airbnb, Deloitte and IBM and Fred Ehrsam, the former trader at Goldman Sachs, launched the company in July 2011.
Brian Armstrong
Fred Ehrsam
The Global Digital Asset Exchange has over 13,300,000 users.
Ripple
Market capitalization: $30 bln
Ripple is a real-time gross settlement and currency exchange. Its main goal is to make an entire system devoted to money transferring. Launched in 2012, the company is working on ensuring real-time transactions between the banks.
Currently, the company is working with over 75 banks all over the world. These banks are implementing and testing the technology in their internal payment systems. In December 2017, Ripple announced that Japanese and South Korean banks had started testing Blockchain to make international payments between the banks cheaper.
The company was organized in October 2012, by Brad Garlinghouse, the former Senior Vice President at Yahoo!, and Stefan Thomas, the founder and co-founder of six other companies.
Brad Garlinghouse
Stefan Thomas
Brave
Market capitalization: $340 mln
Brave is a web browser that blocks advertisements and trackers. As a result, websites work faster and traffic decreases significantly. So you save your time and money. In addition, you cannot catch any malware in the ad clicking on it accidentally.
Brendan Eich, the creator of JavaScript programming language and co-founder of Mozilla, and Brian R. Bondy, a winner of Microsoft MVP Award for Visual C++ in 2010-2011, launched Brave in May 2017.
Brendan Eich
Brian R. Bondy
At a rough estimate, Brave has about two to three mln users. Brave is also one of the fastest ICO. The team raised $35 mln in 27 seconds.
Qtum
Market capitalization: $5 bln
Qtum is the first UTXO-based smart contract system with a proof-of-stake consensus model. The platform use Account Attraction Layer to combine Bitcoin Core and Ethereum Virtual Machine. Proof-of-stake model reduces the computational difficulty in the network and increases scaling possibilities. On Dec. 28, 2017, Qtum and Baofeng, the largest video hosting in China, announced the partnership to transform the music and movie industry work.
Patrick Dai, Neil Mahi, the former Chief Blockchain Architect at BitSE, and Jordan Earls launched Qtum in March 2017.
Patrick Dai
Jordan Earls
In 2017, Forbes China included Patrick Dai in the “30 Under 30 China” list for his achievements.
OmiseGO
Market capitalization: $1,700,000,000
Launched in June 2017 by Jun Hasewaga and Donnie Harinsut, OmiseGO is the decentralized financial technology for exchange and payment services. The founders developed a mechanism to keep high token liquidity. The Ethereum-based platform is a link between payment systems, gateways and financial organizations. Though the team might be unfamiliar to the Blockchain community, their advisors are well-known. Vitalik Buterin, Gavin Wood, Joseph Poon, Roger Ver - it’s just a part of star advisors. The team is supported by Thai Minister of Finances.
Jun Hasewaga
Donnie Harinsut
In August 2017 OmiseGO became the first Ethereum-based token with the capitalization over $1 bln.
Steem
Market capitalization: $850 mln
Steem is the decentralized social publishing network. Your reward depends on the number of “likes” your post gets. The way the community responds shows how you can improve your skills. You may also create new tokens in the network to raise funds from the community.
Ned Scott
Dan Larimer
Ned Scott and Dan Larimer, CEO and CTO in a number of companies, launched Steemit in July 2016 and now around 500,000 people are using the platform.
Augur
Market capitalization: $1 bln
Augur is the prediction market platform for real events. If you are sure that something is to happen, you can buy shares for this outcome. Since the system is Ethereum-based, smart contracts will make sure payments are processed. And as all the predictions work on public Blockchain, nobody can change their prediction afterward.
Jack Peterson
Joey Krug
Augur was started in August 2015, by Jack Peterson and Joey Krug, investor and Co-Chief Investment Officer at Pantera Capital.
Golem
Market capitalization: $500 mln
Golem is the first open-sourced decentralized supercomputer. The network is powered by the users’ computers. A number of industries require a lot of computations such as biology, DNA analysis, cryptography, discrete logarithm, machine learning, big data, etc. The service provides the power for them.
Julian Zawistowski
Piotr Janiuk
Launched in November 2016, by Julian Zawistowski, the vice president and a chairman at Institute for Structural Research and Piotr Janiuk. Golem has reached four mln users this year.
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