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UK-based Cryptophyl launching bitcoin core trading

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UK-based Cryptophyl launching bitcoin core trading

Digital asset exchange Cryptophyl has announced it is launching bitcoin core (BTC) trading. The first available pair is with bitcoin cash (BCH). The launch is part of Cryptophyl’s core mission—to grow the token economy.

The UK-based startup introduced fiat payments for SLP tokens via credit, debit cards and Apple Pay in October 2019. The fiat-crypto payment provider also helps users of Bitcoin.com Exchange to buy cryptocurrencies with credit card and is integrated in the Bitcoin.com Wallet which now offers full support for SLP tokens. Cryptophyl founder Semyon Germanovich says they aim to partner with promising SLP projects.

The SLP token ecosystem has been growing rapidly and almost 7,000 SLP tokens have been created on the Bitcoin Cash network using the protocol. Many of them have been listed on crypto trading platforms such as Cryptophyl, Sideshift AI, Coinex, and the Bitcoin.com Exchange.

DeFi touching $1 billion collateral is a huge milestone: Simon Yu

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DeFi touching $1 billion collateral is a huge milestone: Simon Yu

CEO and Co-founder of StormX Simon Yu said DeFi touching a billion dollar collateral will soon be the talk of the town. “DeFi just recently reached over $1 Billion in collateral which is a huge milestone. A billion dollars might seem like a lot, but with trillions of dollars of potential capital available, the opportunity is endless,” Simon Yu wrote in an article in linkedin. He also went on twitter and made a prediction that Ethereum will touch $500 by next week.

Simon Yu’s project StormX raised $32 million in December 2017 ICO. StormX is a payment platform that supports freelancers.

Simon Yu further stated: “Outside speculation, there are many reasons why you actually need to buy and hold crypto now. Survivors will make a huge impact over the next decade.”

During the ICO phase, Korea-based Hashed invested $1.4 million into StormX. StormX is ranked 301 in market cap currently.

Simon Yu said: “CeFi products like BlockFi are offering 8.6% for a stablecoin and 5.1% for Bitcoin compounded monthly. Whether you want to hold BTC or a more stable value, you can accrue interest every month rather than having it sit in your bank account with almost no interest.”

On the evolved utility token models, Simon Yu said: “Companies like Binance, Metal, Celsius Network, and Crypto.com designed a model where the more tokens you own and use, you receive higher benefits in their products. Outside of speculation, there’s a real demand.”

Ethereum puts off Eth 2.0 launch

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Ethereum puts off Eth 2.0 launch

Ethereum’s next system-wide upgrade, Eth 2.0, won’t launch in Q2 2020 as expected. The Eth 2.0 team said the network won’t launch until three clients can run testnets consistently for a minimum of eight weeks. Ethereum co-founder Vitalik Buterin and Eth 2.0 researchers Danny Ryan and Justin Drake said the initial network parameters will deploy in 2020 as “anything less would be considered a failure”.

Eth 2.0, the next iteration of the world’s leading smart-contract blockchain, promises higher transaction throughput and a new security model under Proof-of-Stake (PoS). Often called Serenity, Eth 2.0 has been in the works since ethereum’s launch in five years ago but has been slow to get off the ground due to the highly technical nature of the endeavor.

The launch for Eth 2.0 was first slated for January 2020 and then an undisclosed date in Q2 2020. Developers are now eyeing the network’s fifth anniversary, 30 July, 2020, for Eth 2.0’s debut.

The researchers believe Eth 2.0 could deploy Phase 0, the Beacon Chain, which acts as a general manager of Eth 2.0’s PoS system, on only two stable clients. Other Eth 2.0 researchers are opting for a more conservative approach, however.

Reddcoin announces wallet upgrade

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Reddcoin announces wallet upgrade

While the look and feel of the Reddcoin wallet has not yet changed, the underlying engine of the wallet has been upgraded in preparation to evolve the blockchain in a new direction, Reddcoin (RDD) has announced. The upgrade will also incorporate the latest bitcoin core security and feature code. The crypto pioneer and first generation altcoin has also embedded this technology in the new required v3.x Core wallet upgrade.

The Reddcoin ecosystem is a self-funding, user-supportive, eco-friendly financial solution for the next generation. The activation of their consensus staking algorithm PoSV v2 will take place when the Reddcoin network has observed 9,000 of the prior 10,000 blocks are staked/generated by v3 wallets.

Reddcoin is hoping that this new update, combined with a growing community of active members, will drive the network closer toward that goal of organic growth, while providing a unique set of user rewards, and a welcoming and supportive community.

Reddcoin, a voluntarily run project set up in 2015, is one of the older and more established names in crypto.

More details at www.reddcoin.com

TokenInsight releases annual cryptocurrency report

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TokenInsight releases annual cryptocurrency report

Blockchain data company TokenInsight has published its annual cryptocurrency report for 2019, with a partial focus on decentralised finance (DeFi) applications.

The report delves into which lending platforms attracted the most locked value or collateral in 2019, as well as which DeFi projects experienced the most growth over the course of the year.

Maker earned its status as Ethereum’s most successful DeFi lending platform in 2019, according to TokenInsight. The app accounted for 76% of the total value locked in Defi lending apps, and it accounted for three-quarters of Ethereum’s total DeFi users.

TokenInsight additionally noted that Maker’s stablecoin supply reached its peak last year with $100 million of Dai in circulation.

EOS REX attracted $160 million in locked value in 2019 and achieved an all-time high of $763 million.

Two other DeFi lending platforms, Synthetix and Compound, accounted for a significant amount of total locked value as well—$160 million and $80 million respectively.

DeFi lending and stablecoins will continue [their] pace in 2020…. We believe the market of decentralised stablecoins will score a substantial increase with its value growing at least five times, said the report.

Binance on expansion mode, launch more fiat gateways

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Binance on expansion mode, launch more fiat gateways

Malta-based Binance, one of the world’s leading crypto-exchanges, has announced that it will add new fiat gateways for Norwegian, Russian, and Croatian currencies. The CEO of the Malta-based crypto-platform, Changpeng Zhao, has revealed that Binance will explore more markets after launching P2P trading of Chinese Yuan, Vietnamese Dong, and Russian Rubles.

Additionally, CEO CZ revealed that the team has been actively looking for P2P merchants globally. The platform was in the news after it recently launched a global P2P merchant program, one that enabled merchants to earn revenue by providing fiat currency payment solutions while enjoying zero transaction fees, as well as professional service support from Binance.

This was essentially launched to serve the increasing demand of Binance global users, while providing higher liquidity. For less developed economies, this program, according to CZ, could be a “fairly interesting business” to get into.

With this announcement Binance is clearly intent on continuing its expansion mode. To date, the platform has launched four international crypto-fiat exchanges. This includes Binance Uganda, European trading platform Binance Jersey, Binance Singapore, and more recently, Binance US. The latter was in fact, launched as part of a special effort to comply with strict U.S regulations in place.

Cardano ties up with PwC; calls it ‘unification play’

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Cardano ties up with PwC; calls it ‘unification play’

From establishing many strategic partnerships at Davos WEF 2020 to opening up new avenues in a bid to bring about commercialization in the ecosystem, Cardano’s has been taking leaps and bounds with respect to developments on its network.

IOHK CEO and Co-founder Charles Hoskinson in an interview with AMBCrypto, said the team is in a transition phase from a very “science and engineering’” viewpoint to a commercial one.

The work-in-progress with professional services network PriceWaterhouseCoopers (PwC) is focused on generating a new commercial strategy.

Hoskinson called it a “unification play” and a way to introduce Cardano to the enterprise world in a way that the enterprise world can understand.

“PwC is an expert in speaking that language, so it’s very important that we get the language right,” he said.

SouthExchange lists SCC and MMO

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SouthExchange lists SCC and MMO

One of South America’s leading crypto exchanges SouthExchange has listed StakeCube Coin (SCC) on its exchange on 10 February. SCC is currently being traded on the SouthXchange for 2100 Sats. Apart from SCC, the Exchange has also listed MMO earlier today.  SouthXchange is an Argentinian-based Crypto exchange and is developed and managed by ProSystems. ProSystems have been around since 2012.

StakeCube platform reported a 815 new users last month and it currently has over 32,698 members on its growing staking pool platform. SCC is the native coin for the StakeCube platform and its community runs over 2500 nodes securing the system. On the StakeCube Crypto Exchange, there 37 markets listed in the SCC markets.

With the growing popularity of SCC and the platform, more exchanges and platforms have come forward to work with Stake Cube. The platform also offers interest against BTC, LTC, Dash and Doge.

SouthExchange has 8 markets and SCC and MMO are listed in BTC markets. South Exchange reported a 24 hour trading volume of BTC 17.85

Binance Wazir integration on 13 February

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Binance Wazir integration on 13 February

On 13 February, Malta-based exchange Binance will be integrating India’s WazirX’s P2P trading platform into its own system as part of its next phase of development.

According to the exchange, through this integration process, Binance users would be instantly able to transfer funds between Binance and WazirX accounts and users would be enabled access to WazirX directly from their existing Binance accounts.

Binance users will also be able to both buy and sell USDT via WazirX’s P2P trading platform directly on Binance.

The announcement was welcomed by WazirX CEO Nischal Shetty who tweeted that this development is yet “another step forward in solving the Fiat <> Crypto problem globally.”

This development follows the latest Supreme Court hearing on the “Crypto v. RBI” case. India’s central bank, the Reserve Bank of India, had according to many, failed to provide any substantial study or document arguing a strong case to ban cryptocurrencies in the country.

The growing integration between Binance and WazirX is likely to promote a positive wave of crypto-regulations for the next few years in India.

‘We want Flits to be a complete  DeFi product’

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‘We want Flits to be a complete  DeFi product’

Flits decentralised mobile app known for hosting masternodes for a nominal fees will soon integrate instant buy and sell feature inside their app. Coin developers will also be invited to supply coins to Flits platform and earn a percentage from sale proceedings. A portion of the revenue will be allocated to further develop the app’s new sell and buy feature.

Launched in 2019, Flits recently hit a milestone of hosting 1000 masternodes. Flits is the first mobile app that allows customers to set up masternodes on its platform for a fee of € 1.99 per month per node.

CEO of Flits Mitchel Van Amstel also announced that the company is working on a new version of the app: “We are completely rebuilding the design and building the app to be bigger than just a masternode app. We want to support cold staking and also introduce DPos. We want Flits to be a complete DeFi decentralised product.

Flits Coin, the platform’s native coin, was very recently listed on Birake crypto exchange.

Flits app is available to Android and iPhone users.

@culttoday

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