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Bitplay Club Has Launched a Spectacular Blockchain-Based Lottery

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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 in the press release.

January 17, 2018: Bitplay Club has announced the fully functional launch of its first Provably Fair Bitcoin Lottery.

The lottery participants choose numbers as they are used to in a traditional lottery. However, drawing numbers is different: the numbers are generated by a formula that uses the hashes of recent Bitcoin blocks found on the blockchain. This technique assures the players that the lottery operator has no way to influence the outcome of the drawing.

Another option to accommodate the participants is the ticket price that currently stands at around USD 1.The price level enables anyone to enter. Besides, sophisticated players may like to choose several options e.g. consecutive draws, system game, or autochoose, and buy multiple tickets at a moderate cost. Results of daily draws are communicated just a few hours after the draw close.

Bitplay Club is a nascent online lottery operator focused on implementation of the blockchain technology in the gambling field. The company believes the enhanced lottery format will bring added value to their customers by resolving the long standing issues of trustworthiness and transparency. Besides, that’s a brilliant use case for the blockchain, and its success will promote further adoption of the technology by the public.

The company aspires to become a major player in the industry and is currently designing several further gambling (game-of-chance) projects.

Bitplay Club Lottery is available on desktop and mobile platforms. Both platforms were launched on December 8, 2017, so there have been 41 draws since. The jackpot has yet to be hit and at January 17, 2018, is above 4 BTC.

About Bitplay Club

BitplayClub was created by a group of blockchain champions and developers who intend to provide various game options to the general public, marketing them as 100% provably fair. The greater mission of the company is promotion of the blockchain concept, bringing knowledge of the blockchain and its benefits to the clients. The company plans to design and roll out further game of chance products in the nearest future.

For more information please visit https://bitplay.club/


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Ripple Price Surges 49% as Market Shakes Off Wednesday Woes

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The ripple price surged by 49 percent on Thursday as the cryptocurrency markets made a $177 billion recovery from Wednesday’s low-point.

Ripple Price Makes 49 Percent Recovery

Like all cryptocurrencies, this week’s market movements have dealt ripple a losing hand. After peaking near $4 earlier this month, the ripple price plunged as low as $0.88 on Bittrex on Wednesday, representing a 77 percent peak-to-valley decline.

Thursday, however, demonstrated that the markets do not intend to go down without a fight, and cryptocurrencies rose across the board as $177 billion in capital flowed back into the ecosystem. The ripple price was one of the day’s top performers, rising 49 percent, which enabled XRP to outperform the cryptocurrency market cap index and recover to $1.56. Ripple now has a circulating market cap of $61.1 billion, which makes it roughly twice as valuable as bitcoin cash.

ripple price
XRP Price Chart

South Korea now accounts for 67 percent of all XRP trading, which may be a new all-time high. A plurality of that volume is concentrated on Bithumb, but Upbit has emerged as a major force within the market and currently ranks as the world’s largest exchange with a 24-hour volume in excess of $8.3 billion. These exchanges currently price XRP as high as $1.87, which represents a 20 percent premium over the token’s equivalent value on Western exchanges.

ripple price
Source: CoinMarketCap

Factors Behind the Ripple Price Rally

The primary driver of this rally is the market’s general upswing, but several factors enabled XRP to outperform other top cryptocurrencies.

Most importantly, yet another South Korean regulatory agency has spoken out publicly against the Justice Ministry’s proposed cryptocurrency exchange ban. The chairman of the country’s Fair Trade Commission said yesterday that he believes a blanket ban is “not realistically possible” and that the government does not have the authority to make such a policy change. Given the heavy concentration of XRP trading in Korea, this announcement understandably had an outsized effect on the ripple price.

Additionally, South Korean bank Woori Bank announced that it would conduct a second pilot program using Ripple’s enterprise blockchain. Although the trial will not include the use of XRP, these trials nevertheless seem to have a positive effect on the ripple price.

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Cryptocurrency Market Recovers as Bitcoin, Ethereum, et al. Spike 20%

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After experiencing a 2-day slump during which the price of most cryptocurrencies including bitcoin, Ethereum, Ripple, and Bitcoin Cash declined significantly, the cryptocurrency market has started to recover.

Major Cryptocurrencies Surge in Value

Cryptocurrencies in the top 20 rankings of the global cryptocurrency market have recorded large gains over the past few hours. Ripple in particular demonstrated a staggering 48 percent increase in value, while bitcoin, Bitcoin Cash, Cardano, and Litecoin have risen in the range of 15 percent to 35 percent.

Although major cryptocurrencies are still down significantly from their all-time highs, bitcoin, Ethereum, Bitcoin Cash, and Ripple have all kept their “psychological thresholds.” Bitcoin has rebounded above the $10,000 mark, Ether recovered past $1,000, and Ripple did not decline below the $1 mark.

It is highly unlikely that fear, uncertainty and doubt (FUD) from the South Korean and Chinese cryptocurrency markets caused the recent correction, given its magnitude and the size of both markets. But, a reasonable explanation is the closure of bitcoin future contracts on January 17, and whales or institutional investors in the traditional finance market dumping cryptocurrencies like bitcoin to cash out their short contracts.

Over the past 12 months, Ripple has surged by 330-fold, Ether by 130-fold, and bitcoin by 19-fold, with minor corrections. It is also possible that the sudden increase of cryptocurrencies without a major drop in value led to a large correction to occur.

Previously, Ethereum creators Vitalik Buterin and Charles Hoskinson questioned the value of most cryptocurrencies in the market, given that tokens without products and users have obtained multi-billion dollar valuations within a short period of time.

With the recent correction in mind, public blockchains and cryptocurrencies within the global market will need to prove their potential and justify their market valuations by obtaining actual active user bases and useful products. Otherwise, even in a bull market like the cryptocurrency market, another major correction is inevitable.

Where Does Bitcoin and Ethereum Go Next?

In late 2017, billionaire investor Mike Novogratz predicted the price of bitcoin to achieve the $40,000 mark and Ether to surpass $1,500. If the cryptocurrency market can recover to its previous levels before January 16, when bitcoin and Ethereum were at $14,000 and $1,300 respectively, the cryptocurrency market would be in a better position to initiate stronger rallies without weak hands and speculators.

Earlier this week, during an interview with QZ, Constantin Papadimitriou, president of Pundi X, stated that the adoption of bitcoin, Ethereum, and other cryptocurrencies is rapidly increasing in India despite the government’s crackdown on the market. Consequently, the government has started to reconsider its policies and possibly regulate its cryptocurrency market, although no regulations have been finalized as of yet.

Increasing adoption of cryptocurrencies by large remittance markets like India and the Philippines will allow the global cryptocurrency market and blockchains within it to increase further in value. Major financial institutions such as Japan’s largest bank Mitsubishi UFJ Financial Group, better known as UFG, and South Korea’s second largest commercial bank Shinhan Bank have also started the development of cryptocurrency exchanges and wallet platforms.

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Blockchain Technology Building New Internet

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This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

The Internet has democratized access to information like no other innovation has ever done before, opening doors that were closed to so many. Nevertheless, however important the benefits of the Internet may have been, there is still a long way to go, and the first and most important thing to do is guaranteeing that it remains free and open.

With recent threats to net neutrality, a solution that is decentralized becomes more urgent than ever before, and companies are now looking at the Blockchain technology as a way of addressing that and other problems of the network.

Tech giants like Microsoft and IBM are looking to implement services that work through the Blockchain and distributed ledgers, while others, despite recognizing the potentialities of the technology, havent managed to find a way to have it inbuilt in their products, as is the case with Amazon. Amazon Web Services (AWS) announced that, contrary to the rumors, they wouldnt be launching Blockchain-based services.

The Blockchain technology answers to several issues, as it can provide for a decentralized and safe platform that can sustain several utilities.

Titanium is bringing the Internet to a new era

Having IaaS (Infrastructure as a Service) as their core service, Titanium Blockchain Infrastructure Services (TBIS) is relying on Ethereum Blockchain to provide data storage and network solutions to companies.

The aim is to facilitate the creation of global companies, by providing an easy, safe and cheap solution to setting up a network. Titanium offers virtualized servers, storage and databases, as well as routers or firewalls. All of this can be set up through a user-friendly app that can be used on any laptop, desktop, smartphone or tablet. This means that TBIS clients can set up an enterprise level infrastructure from the comfort of their own home.

This solution optimises operations, as it eliminates outage time. Whenever there is a fault in a device, the system will run autonomous healing actions and the operation will be transferred to another network of redundant nodes. Furthermore, Titanium is combining Raiden and Plasma scaling solutions to offer transactions at Visa-like speed (2,000 transactions per second).

A solid investment

The companys solid plan, besides the work of a very experienced team, has earned Titanium Blockchain Infrastructure Services accreditation from Dun & Bradstreet (D&B) and the Better Business Bureau (BBB).

The Founder and CEO, Michael Stollaire, is in no way new to the business. In 1999, he founded EHI, a technology consultancy specializing in enterprise infrastructure management. Besides a deep knowledge of the sector, he has brought along a very strong client catalog, which spans from small and medium-sized companies to giants like Microsoft, Apple, IBM or Boeing.

The team has a combined experience of over 200 years, and it includes experts in Ethereum Blockchain Technology, Business Management and Internet Network Infrastructure Management.

Titanium has launched a token that can be used for transactions in the TBIS system. The BAR token can be purchased through the companys ICO, which has been launched on Jan. 1, 2018.

The total supply of BAR tokens is 60 mln, but only 35 mln BAR will be available for sale. At the end of the sale, 60 percent of the BAR token will belong to investors, whereas 20 percent will be given as an incentive to the Titanium team, 10 percent will be used for Titanium Community Bounties and the remaining 10 percent will be allocated to the reserve pool.

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Ethearnal Announces Revolutionary ICO 2.0, Disrupting The Freelancing Industry

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This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

The freelancing landscape has changed dramatically in the past couple of years, buoyed by growing internet literacy and advances in mobile technology. Gone are the days when the on-demand professional was the ridicule of the global market now that it accounts for over 35% of America’s workforce and has been projected to dominate the global labor market by 2020.

The internet has made it easier to match employers with highly-skilled employees from anywhere in the world without the traditional overhead cost. Workers have been able to maximize every facet of their skills in ways the traditional 9-5 desk job wouldn’t have thought possible. Freelancing has grown into a $1.5 trillion industry, however, the industry remains fraught with perils ranging from dubious claims and reputation to conflict resolution, contract defaults, and fake identities. Ethearnal is set to disrupt this industry by bringing transparency and security to every engagement through blockchain technology.

Giving The Industry A Better Reputation

Ethearnal is revolutionizing the freelance industry through disintermediation of exchange, developing an ecosystem where users can direct engage each other. Ethearnal’s innovative ecosystem is built on trustless smart contracts, peer-to-peer (P2P) channels, and an immutable escrow and reputation system. The system deftly marries a tokenized reputation system with economic initiatives to give value to every engagement on the platform.

Reputation is one of the most difficult intangible assets to build, and the most expensive currency to leverage in any transaction. Unfortunately, its value has been cheapened by centralized systems that allow abandon flagged identities and start all over again.

Not so with Ethearnal.

Through smart contracts and IPFS technology on the blockchain, Ethearnal ensures that every identity is unique, cannot be falsified, and reputation is worth its weight in gold.

What’s My Reputation Worth?  

By tokenizing reputation through its native Ethearnal token (ERT), Ethearnal has finally solved the age-old problem of this undervalued asset; tangibility.

ERT is the embodiment of users “reputation” on the network, which every party has to deposit into a smart contract for every engagement. This amount will only be released when the work is completed according to the smart contract terms, paying 99% to the worker. The remaining 1% will be split between both parties in the form of ERT tokens directly purchased at the current market price. 0.5% of the transacted amount will also be distributed to both parties to incentivize further engagement on the platform and reward them for upholding the terms of engagement

But What If Someone Questions My Rep?

Ethearnal has developed a ground-breaking mediation system to resolve disputes on the platform. The network will create a pool of moderators from the community who will have to stake their reputation to resolve any conflict on the network. Moderators will stake an equivalent amount of ERT tokens as the disputing party, which they can only get back by resolving the dispute with their integrity intact and effecting a positive outcome. This will incentivize the community to always be thorough, diligent, and vigilant in the resolution of disputes.

Innovative Project, Innovative ICO

ICOs have been getting a lot of flack lately, due to the fast and loose way some developers have played with the sum deposited for the development of their proposed solutions. Ethearnal will be leveraging the innovative ICO 2.0 model to distributed and develop its platform.

Dubbed “DAICO” by Vitalik Buterin, Ethearnal’s ICO 2.0 merges the best of DAOs (Decentralized Autonomous Organizations) and traditional ICOs to put the development of the platform directly in the hands of investors. Investors will decide how and when to release the ICO funds to developers.

Ethearnal team will only receive 10% of ICO funds to start development. Subsequent funding will only be released to the team when they achieve predefined milestone targets for the community to vote on. The community’s feedback based on their votes will not only inform the smart contract-based fund release, but also refund investors if they are unhappy with the progress of the project.

Unlike most ICOs that have made it the norm to issue their token sale in stages, Ethearnal will be offering a dynamic hard cap that changes hourly. $1000 worth of tokens will be made available in the first hour by $1000 every hour. This means no one large investor can come in and buy up large numbers of tokens in one fell swoop. $1000 per hour means the playing field is leveled for big fish and small. The ICO is set to launch this month, with more details available on Ethearnal’s website

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Japan’s Largest Bank MUFG Will Open Cryptocurrency Exchange: Local Reports

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Mitsubishi UFJ Financial Group, the largest bank and financial institution in Japan by assets, is planning on launching a bitcoin and cryptocurrency exchange targeting institutional and retail investors.

Launching Cryptocurrency Exchange

Japan’s Mainichi Shimbun, one of the major newspapers in the country, and South Korea’s national public news publication KBS, reported that MUFG is preparing resources and a team of developers to establish a cryptocurrency exchange for the local cryptocurrency market.

As CCN reported In September 2017, the Japanese government and the Financial Services Agency (FSA) introduced a national licensing program to regulate cryptocurrency exchanges as proper financial institutions. 11 bitcoin exchanges received operating licenses and regulated financial service provider status. At the time, 17 cryptocurrency exchanges were being reviewed and throughout the past three months, more cryptocurrency exchanges have been approved to operate.

In the upcoming weeks, MUFG plans to gather necessary resources and talents to open a cryptocurrency exchange and file for an application to the Japanese FSA. However, Mainichi Shimbun reported that filing for the application to operate a cryptocurrency exchange in Japan is difficult, and the bank will need to undergo a rigorous process to launch a trading platform for digital assets.

Two months ago, CCN also reported that Shinhan Bank, the second largest commercial bank in South Korea, has started the development and testing of a bitcoin wallet and vault system, to provide secure services to existing cryptocurrency users.

A rapidly increasing number of financial institutions are entering the cryptocurrency market and the entrance of strictly regulated financial service providers will provide cryptocurrency traders a wider range of platforms to use to secure their portfolio of assets and cryptocurrencies.

Releasing a Token

According to Mainichi Shimbun, MUFG is also considering the launch of a crypto-token that hedges the token’s value to the price of Japanese yen. Essentially, MUFG would operate a reserve of Japanese yen, and produce an equivalent amount of MUFG token to match the price of the Japanese yen.

Local media outlets reported that MUFG’s token would serve as a crypto-asset to protect traders against market volatility. In periods of extreme volatility and large market corrections, traders can seamlessly move their assets into the MUFG Japanese yen-backed token and prevent temporary volatility from affecting their existing assets.

Conceptually, the MUFG’s crypto-token is similar to USDT, or Tether, which hedges the token’s value to the price of US dollars.

Given that USDT has been controversial due to the lack of proper third-party audits, in order for MUFG to operate a legitimate Japanese yen-backed cryptocurrency, it would have to conduct a third-party audit to ensure that each MUFG token is backed by the Japanese yen.

The timeframe of the launch of MUFG’s cryptocurrency exchange remains unclear, and the Japanese bank has not disclosed any additional information apart from that provided by Japanese media outlets.

It is optimistic for the Japanese cryptocurrency exchange market that major banks, specifically the biggest bank in the country, is planning to enter the cryptocurrency market and address growing demand for cryptocurrencies.

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