Category: Crypto

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Crypto News

Canada Launches Its Own Blockchain Explorer On The Ethereum (ETH) Blockchain

Canada National Research Council, through its Industrial Research Assistance Program (NRC-IRAP), announced that it has successfully implemented its Ethereum (ETH) blockchain explorer for the transparent administration of grants and other government contributions. Through a press release, the Council reported that the application was developed by startup Bitaccess, Inc., and maintains it hosted in its file system, known as InterPlanetary or IPFS.

The Council’s goal is for users to use the platform to access grant information and test the use of distributed ledger technology (DLT) to search for grants in Ethereum (ETH) blockchain instantly.

“Since its launch, NRC-IRAP has explored new ways to expand its blockchain experiment and reliably share data with the public. The program now hosts your block string browser application in the File System (IPFS),” said the National Research Council of Canada in a statement.

Meanwhile, Bitaccess reported in a statement that to develop this project have implemented Catena Blockchain Suite, a tool that supports the browser itself in the local file system.

“The browser application is similar to a search engine, allowing users to instantly find Ethereum (ETH) blockchain to obtain the information that is being actively published,” the company added.

Canada aims for more transparency on cryptocurrency, especially regarding the Ethereum (ETH) blockchain

The Government of Canada announced last January that it was going to experiment with Ethereum (ETH) blockchain in real time with the aim of making available the data on subsidies and third-party contributions made to the Canadian government. The NRC-IRAP made one of these main proposals.

Canada has shown a great interest in developing cryptocurrency technology for sectors as diverse as agriculture and ICO regulation and has also considered issuing digital assets.

Blockchain explorers are tools that users can employ to query operations and events in a specific blockchain. That is because each transaction’s data is recorded and protected in the blockchain, meaning that any party involved can consult the information without changing it.

Among the data that can be consulted in the blockchain explorers are the following, there are the date and time of the transaction, block height, transactions, confirmations, the amount of cryptocurrency involved, as well as the amount of memory occupied by the transactions inserted in the same block.

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Crypto News

Dash (DASH) Adopted By About 100 Merchants Across Venezuela, Stated Dash Core Group CEO

Venezuela has become the second largest market for Dash (DASH) as nearly a hundred retailers in the Latin American country adopted this cryptocurrency last week, according to the Dash Core CEO’s statement on Wednesday, August 22nd. Talking on this topic for the Business Insider, Ryan Taylor, the CEO of Dash Core Group, said that the interest of businesses and consumers in DASH is growing week by week.

“We record tens of thousands of wallet downloads from the country [Venezuela] every month,” stated Ryan Taylor. “Since the beginning of the year, Venezuela became our second largest market, even ahead of China and Russia, who are of course very interested in cryptocurrencies at the moment,” Dash Core Group CEO added.

Venezuela devalued its Bolivar fiat currency by about 96 percent on August 20th and tied the replacement to its controversial Petro cryptocurrency. That triggered the renewed desire to avoid financial instability using cryptos.

Dash (DASH) adopted by about 100 retailers from Venezuela last week

However, the Bitcoin (BTC) trading volume on the P2P stock exchange platform LocalBitcoins continues to set new records every week. Eduardo Gomez, head of support at Purse.io, described this as “pure hyperinflationary despair” on the day of the changeover to the new sovereign Bolivar.

Dash (DASH) aims to facilitate this continued evasion, as Taylor implied. He also explained that big names like Subway had also signed up to accept DASH.

“We added 94 new Venezuelan merchants to DiscoverDash.com last week. That is about double the normal rate of about 50 retailers per week in recent months,” Ryan Taylor added.

Dash (DASH) had already made the headlines when its value skyrocketed, and celebrities like Max Keiser began to promote its use in the US publicly. Since the DASH reached its maximum highs of about $1,500 in December 2017, however, it has lost most of its value and currently stands at around $150.

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Crypto News

BlockFuse Launches CoinMesh To Facilitate DApps Development On Bitcoin (BTC) And Litecoin (LTC) Blockchains

BlockFuse, a project dedicated to the development of decentralized applications based on the blockchain, has announced the launch of its new tool, CoinMesh, which specializes in the integrated development of applications in the Bitcoin (BTC) and Litecoin (LTC) networks. The instrument is an open source platform dedicated to the automation of the nodes of both blockchains, as well as providing layers of adaptation to interact with data from Bitcoin and Litecoin networks with greater ease.

CoinMesh is an integrated development environment (IDE) that provides different levels of infrastructure for the constitution of a DApp project in a straightforward manner. In this way, the company aims to facilitate the work of developers, since the constitution of decentralized applications in these networks is difficult and there is very little knowledge about it.

BlockFuse says it has developed a platform that will help the interaction of a product with the blockchain, providing automated data sources and adapters for the creation of a DApp.

BlockFuse’s CoinMesh platform for DApps development on Bitcoin (BTC) and Litecoin (LTC) blockchains is in its Alpha stage

The platform provides available client support, including Bitcoind, Litecoind and Lightning Labs, so that developers can connect directly to the blockchains’ databases without having to create a link from scratch.

“CoinMesh automates the Data Source and Adapter layers in minutes. In this way, developers can go directly to the creation, iteration, and validation of their projects instantly,” stated BlockFuse.

At the moment, CoinMesh is in the Alpha stage and only recognizes JavaScript language. However, the BlockFuse team hopes that new components will soon be added to the tool for large-scale operation. Currently, the applications and development tools specialized in Bitcoin (BTC) have experienced a wave of interest.

In this sense, BlockFuse considers that the recent popularity of decentralized applications (DApps) is because these tools constitute “the branches of cryptocurrency economy,” which is why their development is vital for the ecosystem.

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Crypto News

Stable Coin Backed By The Swiss Franc To Be Launched By Union Bank AG Of Liechtenstein

The Union Bank AG of Liechtenstein announced that it would issue its own security crypto token, with the authorization of the FMA (Financial Market Authority of Liechtenstein). According to the bank, this would be the first step towards the creation of a stable coin, backed by Swiss franc. The bank in the small and prosperous European country will become one of the first globally regulated financial institutions to venture into issuing its cryptocurrency.

A stable coin is linked or backed by fiat money or products, to avoid the impact of cryptocurrencies market fluctuations. We already have several examples, the well-known Tether (USDT) and TrueUSD (TSD), both backed by the US Dollar.

Union Bank AG to launch its stable coin backed by the Swiss franc

According to the announcement, the Union Bank AG of Liechtenstein aims to position itself as one of the first investment banks to offer all of its services based on cryptocurrency technology and eventually implement this technology in all its operations.

“As a licensed and regulated bank, we are in a privileged position to combine all the advantages of traditional banking with the possibilities inherent in blockchain technology. Therefore, our Union Bank fiat-backed stable coin has the potential to alter the focus of international trade and cross-border international transactions,” said MH Dastmaltchi, the Chairman of Union Bank AG.

 Liechtenstein is a crypto-friendly nation

That vision contrasts with the general opinion of banking sector representatives in several countries, which are opposing cryptocurrency, although they are in favor of they underlying blockchain technology. However, an incursion into cryptocurrencies market made by a bank established in a country belonging to the European Economic Area could open the door to crypto adoption to other financial institutions in the European Union, at least.

Liechtenstein, a Central European country, known as a tax haven, whose economy is based mainly on tourism and financial services, has shown a friendly policy towards cryptocurrency.

According to the Union Bank official press release, as it is a crypto-friendly environment, Liechtenstein currently supports ICOs and cryptocurrencies market enthusiasts.

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Crypto Economy News

Here are the Best Bitcoin Alternatives: 4 Promising Altcoins

Following the success of Bitcoin, more and more substitutes of this cryptocurrency started to appear, known under the name of “Altcoins”. At the present time, there are more than 4,000 altcoins available to investors and this could make it harder for people to decide which is the best alternative to Bitcoin. That’s exactly why we came up with a list of four best such options that you can choose from, depending on your needs. In order to make sure that you select the best option, you first need to be aware of what kind of features you are looking for in your cryptocurrency.

Bitcoin Cash

This altcoin is quite similar to Bitcoin from many points of view, with a major difference in the size of the blocks, as Bitcoin had a 1MB block size, while Bitcoin Cash (BCH) had 8MB blocks. This year in May, the size of BCH’s blocks was expanded one more time and it is now 32MB. BCH joined the market in 2017 on 1st of August and it was the first Bitcoin hard fork to appear.

At the moment, BCH is the cryptocurrency that is the most broadly recognized by vendors and when it comes to market capitalization, Bitcoin Cash remained in the top 5 cryptocurrencies ever since it came into the market. These days, several crypto investors believe that BCH is one of the best Bitcoin alternatives.

Ethereum

Ethereum appeared on the market in 2015, being the first cryptocurrency to provide smart contracts, which are self-initiated protocols that reside on the blockchain. Even though these contracts are normal these days, it wasn’t always like this in the past. Because it introduced smart contract capabilities, this altcoin was actually the first second-generation cryptocurrency.

It seems that more and more analysts believe that Ethereum will someday manage to be superior to Bitcoin when it comes to market capitalization. One of the crypto professionals that is anticipating this change is Roger Ver, also known as Bitcoin Jesus.

There is another thing that Ethereum is taking the credit for and that is the present-day boom in Initial Coin Offerings (ICO). Currently, the ERC-20 token protocol of this altcoin is undoubtedly the most extensively used token creation platform. The funny thing is that the creators of ERC-20 initially produced this protocol only for intercompany use. However, once the executives of Ethereum realized that there is a great public demand for this kind of protocol, they made the decision to make it public. Ethereum is definitely one of the best alternatives to Bitcoin.

Stellar Lumens

This cryptocurrency entered the market in 2014, on July 31st, and the development team is run by Joyce Kim and Jed McCaleb. The main focus of Stellar Lumens is to create an open global financial network. Moreover, this altcoin is using credit anchors in order to make fund exchanges happen easier, without needing a third party approval.

Based on what we’ve seen recently, Stellar Lumens seems to have attracted some important partnerships with companies from all over the world, so we should expect a lot from this Bitcoin alternative in the future.

EOS

Dan Larimer, who is the founder of the project, has also co-founded Bitshares and Steemit, and the development team of EOS is Blockone. According to the developers, the EOS tokens can use the resources of the EOS platform, such as improved usability, scalability and flexibility, compared to previously created cryptocurrencies like Ethereum.

EOS is known for entering the market after it hosted an ICO that lasted for a year and which managed to raise more than four billion USD. Different from Bitcoin, EOS tokens do not perform any functions. The EOS platform is acting more like an operating system, which allows the execution and development, as well as the hosting of dApps – commercial-scale decentralized apps. A great advantage of EOS is that it has a Proof-of-Stake mining system and thus does not require that much computing power.

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