Why Amazon Might Choose to Adopt Litecoin (LTC)

Cryptocurrencies have started infiltrating more and more businesses, and it would be pretty hard to find a branch of business that has shown no interest in this technology.


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Ripple (XRP) is the perfect example of this, considering that some of the largest banks and financial institutions in the world have adopted it already. However, Litecoin (LTC) might make its own big progress soon.

Will Litecoin (LTC) be adopted by Amazon?

Being adopted by a company as large as Amazon is every crypto’s dream. However, Litecoin might be the top choice for this firm, if it decides to go for cryptocurrencies.

Litecoin’s community is especially enthusiastic about this e-commerce platform, and the majority of them has already requested multiple times that the coin is added on Amazon.

The interesting thing is that Litecoin’s nature and technology actually make it the perfect choice, which means that the adoption might actually come to pass when Amazon decides that it is ready to go crypto.

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What makes Litecoin (LTC) the best choice for Amazon?

One of the reasons why Amazon might choose LTC is that Litecoin’s most important features are exactly what Amazon is looking for. Amazon deals with millions of customers, and it needs its payments to be fast, cheap, and as secure as possible. These are the exact aspects that LTC is best known for. Not only that, but it is actually far more advanced than the payment system that Amazon is currently using.

When it comes to speed, Litecoin is one of the fastest cryptos around. Apart from that, it allows payments via any currency, since they can all be converted to LTC coins. This makes it extremely practical, and perfect for Amazon and its customers.

Additionally, Litecoin is also among the cryptos with the biggest level of security. This would also make it very attractive to Amazon, which has millions upon millions of customers, all requiring a secure way to make payments. Amazon currently uses Visa since its security is one of the best, but even Visa recently had a major incident when it went blank in Europe. This means that the system, no matter how advanced it is, still has a lot of flaws. Litecoin, on the other hand, is blockchain-based. That means that all of the transactions are transparent, and are safely recorded on the blockchain itself.

If we add the extremely low fees to the equation, it is clear that Litecoin is a perfect choice for Amazon. As an example, a fee for a transaction involving $99 million would only be $0.44. This makes fees basically non-existent.


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Author Ali Raza 
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Binance Reveals Plan for $1 Billion Blockchain Startup Fund

Binance, one of the world’s largest cryptocurrency exchanges, has announced it is launching a $1 billion “Social Impact Fund” to foster the growth of blockchain and cryptocurrency startups.

Ella Zhang, head of the exchange’s incubator program Binance Labs, said during an online meetup Thursday that the capital for the fund will be coming from Binance’s own reserves as a way to contribute to the industry ecosystem.


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Binance will pour in the $1 billion over 10 phases of $100 million each and, in essence, will create a combination of a fund of funds (a fund that invests in other funds) and a direct fund that invests in blockchain projects.

For the fund of funds, the incubator chief further explained that Binance is seeking 20 funds to invest in, which each must manage a pool of at least $100 million in order to be eligible. Investments will be made through Binance’s own BNB token, she said.



The first project to be supported is a blockchain-powered ride-hailing initiative that was recently announced by Chen Weixing, CEO of app developer Funcity and former founder of Chinese ride-hailing app Kuaidi Dache. As previously reported, Chen revealed the initiative at a Big Data expo in Guizhou, China, last week together with Yang Jun, co-founder of Meituan, one of the largest group discount apps in China.

“We believe it’s a disruptive social experiment. Binance Labs hopes to work with more aspirational projects to explore blockchain applications and together move forward the growth of the industry,” Zhang said.


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Author: Wolfie Zhao
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Has Monero [XMR] mining gotten more difficult?

During the time of Monero’s initial launch in April 2014, there were neither premine nor instamine, as in, the developers won’t get any portion of the block reward. After the fork, Monero made a lot of improvements like providing more efficiency, privacy, and flexibility to the blockchain.


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A large number of Monero [XMR] miners are now upset as the reward for mining the token has come down by a large margin. According to the Monero miners, the reward has drop somewhere between 25%-40% depending upon the pool they are using for the mining process.

The time required to mine one token or a coin has gone up dramatically, which makes it more difficult for the miners to mine Monero. The general principle is that the more token is mined, more difficult it would get to mine them in the future.

Monero uses the CryptoNight’s proof of work mining algorithm that can work in all existing devices with a modern x86 CPU processor and a lot of GPUs. Monero has smart mining feature which enables transparent CPU mining directly from the user’s system.

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For Monero [XMR], there are around 38 trusted mining pools in the world and out of which 10 are operated globally, out of which, 20 are only located in Europe, 5 only in the United States of America, and 3 only in Asia.

Mining is the distributed process of cryptographically computing a mathematical proof to confirm and verify the transactions on the public ledger for a block which has a number of transactions and later it is added to the respected blockchain. The nodes of Monero uses the same blockchain to check whether the transactions are legitimate, to prevent attempts to re-spend which have been spent already.

As per the information given on nanopool, in the last 24 hours, about 128 blocks were mined with a Pool Hashrate of 107,806.0 kH/s.

A Reddit user has issued a concern:

“I have been using nanopool since I switched my machines over from ETH to XMR. I was averaging about .5 XMR every 22 hours like clockwork over the last 5 days. Today I noticed that has drastically changed. Per their calculator, it is going to take about 32 hours to generate the same amount. My hash rate has stayed pretty static between 67k and 70k. Is anyone else seeing the same changes?”


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Author  Arjun B
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Vitalik Buterin Asks: Does Rothschild Conspiracy Theory Extend to Crypto?

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OLD-MONEY-TYPE HIGH SOCIETY PEOPLE’

Ethereum co-founder Vitalik Buterin questioned the authenticity of the Rothschild banking empire after rumors emerged of its plans to enter the cryptocurrency market.

In various posts in the /r/ethereum subreddit on May 26, Buterin focused on the potential impact of the Rothschilds’ IMMO project, adopting a critical perspective about their presence as a market force.

“Are ‘the Rothschilds’ even well-coordinated enough to be worth caring about as a group these days?” he queried on Reddit.

If old-money-type high society people want to make their own currencies, go ahead, more power to them; see you in the moderately-free market.

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ROTHSCHILD IMMO RUMORS ABOUND

Reports about IMMO first surfaced in the local cryptocurrency industry press last week. While all information is based on rumors and leaked information, it is thought the Rothschilds plan to create a Tether-like stablecoin which its creators would tie to gold or similar commodities.

Other theories tie IMMO to The Economist, a publication which first floated the concept of a “world currency” in the late 1980s and which is also owned by the Rothschild’s.

After fielding responses from Reddit users about the knock-on effect for sentiment regarding cryptocurrency should the rumors be true, Buterin, however, remained unconvinced of the Rothschild dynasty’s providence.

“[M]y updated view after seeing the replies is that they are just people born into various old-money-type high-society positions, and the theories that they are anything beyond that are fairly baseless,” he added in a later edition of his original post.

Previous third-party experiments with Bitcoin by the Rothschild’s meanwhile appeared to have no impact. In July last year, Rothschild Investment Corporation invested in the Bitcoin Investment Trust, the grantor trust sponsored by Barry Silbert’s Grayscale Investments.

Digital Currency Group, of which Grayscale is a subsidiary, has invested in multiple well-known cryptocurrency businesses including CoinDesk, BitPay, and Blockchain.

Later, in February 2018, the empire gained further exposure to Bitcoin, when Rothschild Group member Goldman Sachs acquired exchange Poloniex through Circle, a company in which it is the major shareholder.

What do you think about Vitalik Buterin’s appraisal of the Rothschild’s?


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Author Wilma Woo 
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