Category: Crypto

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Crypto News

The Bank Of England Declared That A Decentralized Transactions Blockchain Technology Platform Is “Theoretically Possible”

After having carried out a Proof of Concept (PoC) with the startup Chain, the Bank of England recently published that it came to the conclusion that a distributed decentralized blockchain technology platform with a degree of privacy for sensitive data seems possible.

According to the official report, the research was conducted with the aim of exploring whether the blockchain technology can maintain the levels of privacy required by the banking system participants, at the same time that the information is distributed among all the participating nodes and that the transactions they can be supervised by the regulatory authorities.

The conclusion they reached responds to a doubt expressed by the bank since they began to investigate the technology in 2016

“It seems theoretically possible to configure a distributed accounting system so that transactions remain private while All the data shared in the network are maintained, and at the same time, a regulatory view of all transactions is maintained,” the bank said.

The testing was carried out with a transfer of ownership of a fictitious asset among several participants, including the central bank and a regulatory body. The activity supported by Chain was carried out for exploration and learning purposes, as published by the bank.

In the test, the issue and withdrawal of assets, as well as the granting of access to the general ledger, was the responsibility of the central authority, while the regulatory authority could have access to supervise all transactions.

Although the answer was “theoretically possible” regarding blockchain technology, security issues still need to be fixed

The report highlights that other aspects of the technology of the distributed ledger still “must be explored further” since the blockchain is not yet competitive to process banking transactions in the speed of processing and the scalability of it. An issue that, for the moment, does not make the adoption of blockchain technology viable as a platform for the processing of all transactions, according to the Bank of England statement.

To understand the importance of this test it is necessary to take into account that the privacy of the data has been one of the main concerns of the banks regarding blockchain. A fact that has led banking corporations to develop private blockchain-based solutions such as the one proposed by the Bank of England.

In addition to this proof of concept based on the use of blockchain technology for the banking sector, last March, the Bank of England announced another proof of concept, this time for the support of its gross settlement system, whose results are expected to be obtained by the end of this 2018.

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Crypto

Bitcoin Center, Based in Manhattan, Was The Host For Bitcoin (BTC) Enthusiasts Who Still Put Their Trusts In The Cryptocurrencies Market

At the Bitcoin Center, in Southeast Manhattan, in New York, the most loyal Bitcoin (BTC) enthusiasts want to continue to believe in the bright future of this cryptocurrency, despite the past weeks’ prices drops and a reduction in the regular enthusiasm related to cryptocurrencies market.

“Two months ago we could not breathe here, there were so many people we had to leave people out,” says Nick Spanos, founder of the Bitcoin Center, based in a back room of a restaurant in the neighborhood of East Village serving as a base camp for followers of the Bitcoin (BTC) crypto coin.

On this Thursday, a few hundred BTC enthusiasts were there to exchange Bitcoin (BTC) via a smartphone brokerage applications, enjoy the free buffet, or listen to Nick Spanos.

As another sign of the interest slowdown, the weekly number of searches on Google with the term Bitcoin is 5 times lower than the peak of Google searches for the Bitcoin (BTC) currency in December.

Bitcoin (BTC) investment, as well as with any asset on cryptocurrencies market, is not a “get rich quick” scheme

“I panicked at the end of December,” said Zalman, a 24-year-old digital assets enthusiast who does not give his last name. He made his first purchases a few months before the price spiked, in December 2017.

“The drop was hard to digest even though I knew the course could not go up forever, I did not sell because I believe in the technological revolution behind it [Bitcoin blockchain technology],” he says.

“But then it was enough for me to remember the 2013 bubble to convince me to keep my bet,” he adds in reference to the dip in the course of the Bitcoin (BTC) in 7 days, from $1,137 on November 29th, 2013 to nearly $600 seven days later before a rebound in stride.

It is these recent investors, attracted by a sharp rise in prices at the end of last year, who really suffered from the cryptocurrencies market volatility.

“New Bitcoin (BTC) investors who entered the market when bitcoin was worth $19,000 are disappointed but the community, including those who invested not later than last May, has not lost any money,” notes Michael Casey, the chairman of CoinDesk’s monitoring committee, an information platform on cryptocurrencies market and blockchain technology.

Bitcoin (BTC) investment is not that scam of the “get rich quick” type. “The goal is to keep your bet and ultimately get monetary independence,” said Nick Spanos, who also added that they do not need such cryptocurrencies market investors in their Bitcoin Center.

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Crypto

Bitcoin (BTC) Price Soared Thanks To The Recent Increased Interest In Cryptocurrencies Market

After a long time of being characterized by falls in prices of crypto coins, the cryptocurrencies investors and holders celebrate the rise in the prices of the digital assets on the cryptocurrencies market. In the last hours, all the cryptocurrencies had a constant growth. Bitcoin (BTC), in special, increased by 4% in the last 24 hours.

From December to January, the cryptocurrencies market was only trying to stabilize but until February almost all the crypto coins experienced one of their biggest falls ever.

In total, the cryptocurrencies market went down from $500,000 million to $248,000 million.

Bitcoin (BTC) price shot up in just 1 hour

For example, recently, Bitcoin (BTC), in just one hour, jumped from about $7,000 to above $8,000, this being a price that hasn’t been seen since March.

On the other hand, Ethereum (ETH), the 2nd crypto coin in the world by market cap, increased by more than 6% in the last 24 hours, trading right now around $523.

The Bitcoin (BTC) is currently trading at exactly $8,275.57, registering an increase by about 4%.

This price increase is a bit difficult to explain but everything points to that it is due to the interest of several big investors. Another reason is that there may be entries from private companies.

Some of the possible reasons why Bitcoin (BTC) price soared

George Soros and Venrock Venture Capital, from the Rockefeller investment group, bought Bitcoin (BTC), apparently, as part of their cryptocurrencies investment plans.

In addition, Yahoo Japan announced that it will buy 40% of BitARG, a cryptocurrencies exchange, based in Tokyo. Of course this fact caused new investors to enter the market.

Also, as it is so difficult to understand how the world of cryptocurrencies works, a new Japanese music female band decided to explain how the cryptocurrencies market operates through music. The women, nicknamed after crypto coins,  talk about issues such as data mining and some investment advice that buyers should follow and they do it via the lyrics of their songs.

All these facts seem to helped Bitcoin (BTC) price, in special, to rise up and the cryptocurrencies market, in general, to stabilize.

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Crypto Finance News

Nano (NANO) back on the right track with Smartphone compatible wallet

The crypto market went through some hard times lately. The prices went down for all coins after the unexpected jump at the beginning of the year. However, some coins seem to get back on their feet slowly.

Nano (NANO) is one of the virtual coins that is ready to fight with the big players like Bitcoin and Ethereum. While the market is receiving new competitors every day, Nano remains confident that it is able to face them. Here is what it has to offer:

Recognition

Not all coins manage to obtain listing in major exchanges. Nano received recognition for other important players in the market, including the founder of Litecoin, Charlie. The experts also appreciate Nano for its smart ecosystem that does not use too many resources.

Smartphone compatible wallet

Having a wallet is very important for a crypto coin, and users can benefit from it. One of the advantages of the Nano wallet is the fact that it is smartphone compatible. This means that you will be able to access your money even when you are on the go.

Having a wallet that is available on a smartphone makes it more accessible and easier to use. Which is definitely something that users will appreciate. The light wallet is considered an important one and it improved the reputation of Nano.

In fact, Binance exchange offered a reward to the Nano community, for being one of the best communities on the crypto market, which is an important accomplishment.

NANO tokens can be also used on Twitch, which is an online game streaming company that operates globally and is owned by Amazon. Since there are thousands of users, there is a chance that the NANO coin will be adopted by even more people in the future.

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Crypto Finance News

Investing in Cryptocurrency: Nano (NANO)

Cryptocurrency is one of the most popular subjects among investors. After the big boom at the beginning of the year, it is not hard to see that cryptocurrency is here to stay. However, while Bitcoin remains the most powerful coin, many investors prefer to look at other alternatives.

Nano (NANO) is a currency that appears to regain its position, despite the fact that these are hard times for crypto. At the moment, the price reached $5.97292. This is a good step forward, as the settlement of the price was of -13.53% the last day.

What is Nano (NANO)?

The Nano platform was launched by RaiBlocks and Colin LeMahieu back in 2015. There, Nano (NANO) was used as cryptocurrecy. The platform was great for peer-to-peer transactions. There were numerous advantages, including the fact that users were able to make the transactions instantly, which means tha this coin could be used on a daily basis, including for regular purchases.

Should you invest in cryptocurrency?

If you are looking to invest in cryptocurrency you should know that there are both advantages and disadvantages. For example, one of the risks with cryptocurrency is the fact that it can be very volatile, and this is something that has been proved with Bitcoin. Bitcoin has a huge rise and then it went back down. Expert opinions are usually divided and some believe that the prices will jump up again, while others think that Bitcoin will go down for good.

Cryptocurrency also requires some degree of research, as it is important to understand the technology behind it before you decide to invest in it. There are also numerous factors that need to be taken into account. For example, you should know that supply for the currency, as well as the processing speed.

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