Dash Aids Venezuelan Adoption As 66,000 KRIP Phones Sold in 4 Months

Dash has recorded yet another adoption milestone driven by special circumstances in Venezuela, with the sale of more than 66,000 KRIP mobile phones that are designed with special cryptocurrency enhancements optimised for the Dash ecosystem. According to the company, from launch in August 2018 to present, the vast majority of the devices have been sold in Venezuela, making it by far the world’s biggest market for the cryptocurrency-enabled phones.

It will be recalled that in August, CCN reported that Dash signed a deal with Kripto Mobile Corporation (KRIP), a South American company that manufactures mobile phones that come pre-equipped with the Dash ecosystem, Dash wallets and the Bitrefill app. According to Dash CEO Ryan Taylor, the deal was expected to bring the Dash ecosystem to more than 10,000 new Venezuelan users every month – a target that has been significantly exceeded with the sale of 53,000 phones in a little over three months.

Dash/Kripto Mobile Partnership Bears Fruits

Information provided to CCN shows that of the 66,000 KRIP K1 phones sold wholesale and shipped under the terms of the Dash partnership, more than 53,000 have been sent to Venezuela alone as consumers and retailers in the country increasingly look to cryptocurrency adoption as the solution to dealing with non-availability of hard currency and hyperinflation which has rendered the Bolivar all but worthless.

Giving the partnership another dimension, Dash and Kripto Mobile have also partnered with DiscoverDash.com, a global Dash merchant directory to develop a mobile app version of the website which has been included in all existing and future KRIP smartphones. The implication of this is that in addition to having access tot he Dash ecosystem, users will also be able to locate and browse through merchants that accept Dash in their locality.

Commenting on the news coming out of Venezuela, Dash Core Group Global Head of Business Development Bradley Zastrow said:

Our focus since the launch of our KRIP phones in August has been to make this incredible Dash ecosystem as complete and inclusive as possible. That we have already sold and shipped over 66,000 phones in only two and a half months clearly shows we are achieving those goals. Now, with Dash Text and the DiscoverDash.com app, we’re expanding our partnership and enhancing the user experience, making it easier than ever before for the Venezuela community to use and transact in Dash in their everyday lives.

After Venezuela, Dash Targets Latin America

Dash has made no secret of its intention to use Venezuela as a staging point to expand adoption across the region, and to this end Dash Text is explicitly identified as a key part of its Latin America strategy. In November, CCN reported that Dash Text provides an SMS-based cryptocurrency transaction service for Venezuelan users, cutting out the need for smartphones or high speed internet connections in a country with just 41 percent smartphone penetration.

All KRIP K1 phones come with a suite of Dash ecosystem apps designed to make a 360-degree Dash transaction experience possible. These apps include Dash wallet for custody, Bitrefill for spending Dash and Uphold for buying Dash. According to information provided by Zastrow, this strategy is proving successful with some strong results recorded since launch in August.

Zastrow revealed that first time Dash wallet downloads in September and October increased by 23 percent over the corresponding figures for July and August. He also revealed that there has been increased volume driven to Bitrefill and Uphold, along with a new retention increase after 15 days.

In his reaction to the news, KRIP Venezuela Marketing Manager Andrea Coll said:

The results to date have been exceptional, and we’re thrilled to now build on that success by expanding to now include Dash Text and DiscoverDash.com. These phones provide users around Latin America with an affordable way to acquire and use cryptocurrency for everyday transactions, like buying groceries or sharing money with family. Dash’s InstantSend feature and low transaction costs makes using cryptocurrency easy and efficient for users, and will help build momentum for cryptocurrency as a viable and stable alternative method of payment.


Source
Author: David Hundeyin
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Dash Launches Text-Based Crypto Payment Service in Venezuela

Crypto project Dash has announced the launch of Dash Text, an SMS-based cryptocurrency transaction service for Venezuelan users, as it builds on its already strong presence in the crypto dependent country. In an announcement released this week, the company said that Dash Text eliminates the need for Venezuelan users to possess smartphones and internet access to carry out crypto transactions, which has historically been a significant barrier to adoption in the impoverished country suffering from hyperinflation.

Driven by several months of hyperinflation which have rendered the bolivar practically worthless, Venezuelans have increasingly turned to cryptocurrencies as a solution, as has been illustrated by a series of well-publicised incidents.

Dash is looking to build on the success it has recorded in cashing in on the trend by targeting millions of Venezuelans who are not able to partake in the crypto economy because they do not own smartphones or they cannot access the internet. The solution to this problem was built in partnership with BlockCypher, which specializes in blockchain solutions and blockchain agnostic products that enable users to engage with multiple cryptocurrencies through one platform.

DASH/USD | Bittrex

Currently in beta testing, Dash Text will enable users of Movistar and Digitel — Venezuela’s largest telecom providers — to access Dash services via a simple five-digit shortcode.

Speaking about the unique demand that gave rise to Dash Text, Bradley Zastrow, Global Head of Business Development at Dash Core, said:

“Venezuelans living abroad send an estimated $2 billion USD back home in remittances. This process often takes too long and costs too much, making it a huge pain point for many users. With Dash Text, we are providing real solutions that address real problems. People need easy and cheap ways to send money home, and we’ve done it in a way that expands the Dash ecosystem to those without smartphones! Dash Text offers the perfect solution to ensure that everyone can become part of the Dash family, regardless of what phone people own.”

According to the announcement, to get registered on Dash Text, users should send an SMS with the word “DASH” to 22625, followed by another SMS with the word “CREAR,” which will create their Dash wallet. Once this is done, users will be able to send and receive Dash seamlessly via SMS, which could potentially be huge for the sizable population of Venezuelans who use feature phones or lack reliable internet access.

It will be recalled that in August, CCN reported that Dash recorded a sharp price and volume increase as a result of its successful adoption push in Venezuela which saw it sign up several prominent retailers across the country. It also penned a deal with Kripto Mobile, a maker of mobile phones that are pre-equipped with Dash wallets in a deal that was predicted to make the cryptocurrency’s monthly user growth rise to 10,000.


Source
Author: David Hundeyin
Image Credit: Charts from TradingView.

Trezor Users Can Now Exchange Cryptocurrencies Directly In-Wallet

This week the hardware wallet Trezor added the ability to buy and trade cryptocurrencies within its beta wallet’s interface. Now users can swap between eleven different digital assets without the possibility of compromising funds by leaving them on an exchange.

Trezor Hardware Wallet’s Beta Version Allows Users to Buy & Trade Digital Currencies

Users can now swap cryptocurrencies from within their Trezor hardware wallets by using the firm’s beta wallet. The beta wallet is almost identical to the traditional user interface but it contains different features not yet added to the main Trezor client. On September 19, Trezor explained on Twitter, “Our beta servers now allow you to exchange cryptocurrencies directly in the Trezor Wallet interface.” The wallet’s new exchange section allows users to purchase cryptocurrencies from exchanges, and swap their existing digital assets on the same trading platforms.

Exchanges available on the Trezor beta wallet.

When entering the beta page, it’s basically the same as the main client and you will have to plug in your Trezor and login to use the new features. Once inside the wallet, on the top right side of the screen there’s a new ‘exchanges’ tab.

A disclaimer must be accepted to use the exchange services.

If it’s a person’s first time using the exchange feature, they have to agree to a disclaimer that states basically all the trades made is between the assets’ owner and the third party trading platform. The digital asset exchanges available on the Trezor platform include Changenow, Coinmama, Changelly, Paybis, and Coinswitch. The wallet’s users can swap BCH, ZEC, XRP, LTC, BTG, XMR, DASH, DOGE, BTC, ETH, ETC, and XMR.

Trezor Exchange Feature is Optional and the Trading Platforms Might Run KYC

A representative from Trezor explains the company won’t be running any Know Your Customer (KYC) requirements for the new feature. “Just to clarify, we won’t run KYC — The exchanges might. (We do not offer exchange services, they all go through third parties.),” the team’s marketing manager details on Twitter.

It’s an optional service. If KYC will be enforced by those services, user will know it and can refuse to continue — Decentralized exchanges are, of course, being evaluated.

The Trezor hardware wallet will be joining Keepkey as the Shapeshift owned manufacturer’s hardware wallet also enables cryptocurrency swaps in-wallet as well. Keepkey owners have the ability to use Shapeshift by selecting a currency in their wallet they would like to trade with the other digital assets offered in the drop-down menu. With Shapeshift changing its business model to a membership service, it is uncertain how it will affect its compatibility with Keepkey. Ledger Wallet does not provide any exchange or trading services in any of its hardware models. However, there is a section in the Ledger Live platform that shows a Buy/Trade tab but the browser redirects the user to the exchange after it is chosen.

Images via Shutterstock, Pixabay, and the Trezor wallet inte


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Author:  Jamie Redman 
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Dash Price Rises 20% on Venezuelan Adoption Push

Dash (DASH) is currently experiencing a strong price surge, rising about 20 percent in the space of 24 hours as news coming out of Venezuela indicates that it is experiencing a solid increase in adoption by users fleeing the bolivar’s six-figure inflation rate.

LIONBIT

Hyperinflation, Petro, and Dash

Dash Price Chart

CCN reported recently that Venezuelan president Nicholas Maduro announced the creation of the “Sovereign Bolivar,” a new currency to  replace the near-worthless bolivar, which had an inflation rate in excess of 100,000 percent. The new bolivar was then pegged to the value of the petro, a new state-sanctioned digital currency backed by the country’s oil production.

At a time when Venezuela’s annual inflation rate is projected to hit an absurd 1,000,000 percent by the end of the year, with the country’s oil production severely hampered by lack of investment, Venezuelans have understandably balked at the new arrangement, preferring to stick with the relative stability offered by bitcoin and other cryptocurrencies.

From a Venezuelan point of view, where bitcoin and other coins fall short compared to dash is the period of time required to confirm a transaction. Prior to last year’s crypto boom, bitcoin transactions took an average of 10 minutes, but since late 2017, bitcoin transactions began to take anything from 20 minutes to an hour during peak periods.

TIP

Ethereum fares slightly better with a 4.49-minute average, but dash offers even speedier confirmation, averaging two and a half minutes by virtue of its masternode network which allows it to offer an Instant Send service. For Venezuelans without access to a reliable fiat currency, this is as close as it is currently possible to get to a ‘regular’ transaction when carrying out regular everyday activities like shopping or paying for meals.

Dash has taken full advantage of the situation, reportedly signing up an average of 200 vendors a month including brands like Subway and Calvin Klein.

Speaking to Business Insider earlier this month, Dash Core Group CEO Ryan Taylor said:

“We are seeing tens of thousands of wallet downloads from the country each month. Earlier this year, Venezuela became our No. 2 market, even ahead of China and Russia, which are, of course, huge into cryptocurrency right now…It took them a long time to get the first 50, first 100, but at the beginning of July, the number was around 400, and we’re already at 800. We’re at this point signing up more than 200 a month.”

Its latest market surge has been driven by the announcement of a partnership between Dash and Kripto Mobile, a South American company that manufactures mobile phones that come pre-equipeed with the dash ecosystem, DASH wallets and the Bitrefill app. According to Taylor, this deal will see dash’s monthly user growth rise to 10,000.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: David Hundeyin
Image Credit: Charts from TradingView. 


Peoples Token

Cryptocurrency Prices Are Down, But Transaction Numbers Are Up

Recent cryptocurrency price declines have attracted the attention of mainstream media outlets.



Many attribute the price declines to tax selloffs, exchange hacks, ICOs, and negative regulation developments. Some have proclaimed this to be the beginning of the end, while others, such as Brian Kelly, have called Bitcoin and cryptocurrencies “not dead”. Kelly says that the USD exchange price of cryptocurrencies are entering bear market territory, but that it is also important to keep things in “perspective”. To prove his point, he rhetorically asked, “Do you know where we were a year ago?” To which he answered, “$2,500.” Brian Kelly was eluding to the fact that even though cryptocurrency prices are down over a few months, they are actually significantly up year over year.

Kelly also had a positive outlook on the regulation developments even though it has caused the USD exchange price to drop significantly. Kelly said, “They’re cleaning up the system. They’re making sure it’s more robust. Making sure it’s better for people”.



Transactions matter more than price

All the news outlets significantly focusing on the fiat exchange price seem to overlook that the goal of cryptocurrency is to be a peer-to-peer digital currency and payments system free from centralized authorities. This goal means that the fiat exchange prices does not matter that much for cryptocurrencies. Even if the price for one whole cryptocurrency is nominally large in fiat exchange rates, a diverse income demographic can still use cryptocurrencies to buy and sell everyday items since most cryptocurrencies are divisible into very small amounts, such as one Satoshi (a hundredth of a millionth BTC). This everyday usability for large and small purchases does rely on transaction fees and confirmation times remaining low. Thus, it is the number of transactions per day that matters more than the price to successfully and sustainable accomplish the goal of becoming a peer-to-peer digital currency and payments system.

The transactions per day is a better indication than price of how much cryptocurrency is actual being used by people in everyday life rather than just for speculation. The number of transactions matter since actually using a currency is what gives it value and stability as a currency. Transactions per day displays how consumers are handling that coin’s transaction fees, confirmation times, security, and merchant adoption. More transactions per day is an indication that a cryptocurrency has solid fundamentals that consumers can trust to use in everyday life for cheap and fast peer-to-peer transactions, while less transactions per day indicates the opposite.

 

 

The number of Dash transactions are increasing

A few days ago, the number of Dash transactions per day had increased to over 35,000 transactions, which had exceeded the transactions count per day of both Litecoin and Monero, combined. This occurrence makes sense, intuitively, since Dash has been focusing on everyday adoption around the world. Dash has been so appealing to so many people because it has been able to consistently maintain low transaction fees, fast confirmation times, and security. This makes Dash appealing to both consumers and merchants relative to traditional currencies and payment methods that are unstable due to monetary and fiscal policy or charge exorbitant fees. Dash also sets itself apart from other cryptocurrencies that have seen spikes in their transaction fees and confirmation times, which has made those cryptocurrencies less reliable than Dash.

Dash is experiencing rapid adoption around the world due to its treasury system that has allowed for professional and experienced development and outreach around the world. Dash is now seeing the rewards of that incentivized structure and hard work through an increasing number of transactions. This brings Dash one step closer to accomplishing the goal of cryptocurrency to be a decentralized peer-to-peer currency and payment network.


Here at Dollar Destruction, we endeavor to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!
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Author: Justin Szilard
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DASH price predictions 2018: The return is astronomical USD – Dash Price -Fri Jun 01

DASH price predictions 2018: DASH has created a unique interface with the help of which, this token can be used for off-line transactions. The vital link between in the use of any cryptocurrency is the bridge between offline and online world. Many cryptocurrencies have not found any off-line takers.


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This problem has been solved by DASH. It allows you to instantly conduct the transactions. It is completely private as well. Moreover, it provides you with high security as it has over 4500 servers which are hosted all over the world. This ensures that you are able to conduct the transactions at any point in time. The transaction verification time is also on the lower side which ensures that you are able to complete the transactions quite quickly.

Most of the users are trying to figure out whether it is worth investing in this cryptocurrency or not. We would today shed some light on the predictions for this cryptocurrency.

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DASH price predictions 2018:

The present price of the cryptocurrency is around $ 706. The forecast for this calendar year that is 2018 is around $ 1600. The forecast in the next 5 years is around $ 5200. Thus, whichever way you look at it, the appreciation which is projected is pretty huge. Even if you invest just for this calendar year, you would be able to make a decent amount of money. The return is astronomical when you take into account the five-year period.

This is the reason why this is one such cryptocurrency which you should definitely not ignore. It is also a good idea to buy it on dips rather than when it is on the rise. Even though this might require you to wait for a longer period of time but the return which it would provide you would be on the higher side.

When you look at the overall potential of this cryptocurrency, you would realize that since it is already syndicated with various payment programs, it is one of the best options to invest in an off-line, online transaction platform. Also, as long as the company is able to tie up with more merchants as well as payment processors, it would be easy for the company to increase the value of the tokens. This would also help the investors in the cryptocurrency.

If indeed, you are investing in this cryptocurrency, it is a good idea to consistently track the execution capability of this company.

DASH is definitely a cryptocurrency which is worth looking at at the present levels.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Andreas Kaplan
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Get Ready to Defend Privacy Coins

Crypto enthusiasts, heed this warning: Japanese regulators are veering into the unknown.
A country that once served as a beacon of hope for the development of blockchain-backed initiatives in the region has abruptly changed its stance in recent months, reconsidering the role that cryptocurrencies should be allowed to play in Japan’s commercial ecosystem.
And this is no more apparent than when discussing the current state of privacy coins.

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Earlier this week, the Japanese Financial Security Agency (FSA) announced that on June 18, there will be an outright ban on all cryptocurrencies that provide a sufficient degree of anonymity to its end users.

For the most part, Japanese exchanges are listening, pulling four major privacy coins — monero (XMR), dash, Augur’s reputation (REP), and zcash (ZEC) — from their platforms.
As the wider crypto community begins to assess the implications of this decision, it’s becoming increasingly evident that the January hack on Japanese cryptocurrency exchange CoinCheck, which resulted in the theft of 523 million NEM tokens (worth an estimated $524 million), has created a ripple effect that has had repercussions for the future of the space.
To understand the road ahead, I posit that crypto companies — especially those in the privacy space — should consider the advantages, instead of the disadvantages, that privacy coins will provide to the greater community so that they can better advocate for regulatory leniency in both Japan and beyond.

Making the case
Stepping back, if you were to ask any industry expert what the fundamental aspects of cryptocurrencies are, they would likely say immutability, fungibility, decentralization, and confidentiality. At first glance, these attributes may seem incongruous; however, they are all uniquely important to the long-term success of the industry.

For a platform to truly be considered “decentralized,” it must eliminate the possibility of manipulation or control exhibited by centralized entities, which cannot happen without confidentiality. And, as evidenced by the recent incidents at major multinationals Equifax and Facebook, the need to protect one’s identity has never been more top-of-mind.
In fact, at present, there have been an estimated 12,918,657 exposed records thus far in 2018 alone, and that number is only expected to increase. This is why blockchain-based cryptographically secure projects are so necessary — to shield the general public from major multinationals (or hackers) looking to take advantage of their valuable information.
Similarly, for a platform to be considered “immutable,” it must provide unprecedented transparency to the exchange, which cannot effectively occur unless there is an added layer of privacy. Every time a cryptocurrency transaction occurs, a user’s information is viewable to the entire community.



On its surface, it might seem as if most cryptocurrencies — from bitcoin to ethereum — satisfy these criteria. However, as of late, bad actors have found ways to outsmart the system. And once they do so, not only can they connect an individual to one transaction, but they can connect them to their entire crypto history.

It’s becoming an undeniable truth that traditional coins will simply not fit the bill. Exchanges of the future will require more secure platforms that protect users with strong cryptography.

Privacy scapegoated
So where do we go from here? In their assessment of privacy coins, the FSA explicitly stated that a primary justification for its preemptive ban was to eliminate bad actors from being able to conduct criminal activity under the guise of anonymity.

Admittedly, the justification is sound. In the wake of the CoinCheck hack, the presence of anonymity has undoubtedly proven to be an obstacle for authorities looking to find the culprit of the attack.

But don’t be fooled. There are myriad reasons for why this hack occurred in the first place, and none of them are anonymity. If the hack on CoinCheck was a primary justification for the FSA’s decision, then privacy coins were an unfortunate scapegoat.

To ensure a domino effect doesn’t occur in countries around the world, crypto companies should take the initiative and educate regulators about the potential value proposition that privacy coins provide to the blockchain industry.

The FSA decision is one of the first instances where a government entity has questioned the status of privacy coins and their ability to positively impact our commercial ecosystem. It won’t be the last.

By taking precautionary action, companies can quell any misconceptions about the use-cases of the technology, and ensure long-term sustainability of the space for years to come.



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Robert Viglione
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Another Major Asian Exchange Delists Privacy Coins!

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Major South Korean exchange platform Korbit has today discontinued sales in five cryptocurrencies, as the country’s exchanges attempt to restore public faith in their services.

The so-called “anonymous” Zcash, Monero and Dash coins were delisted, in addition to the Augur and Steem cryptocurrencies. The move was reminiscent of a similar decision last week by Japan’s Coincheck, which announced it would remove Augur, Zcash, Monero and Dash from its own platform.




Korbit, which will allow customers to sell any of their remaining holdings in the five cryptocurrencies until June 21, has left the door open for re-listing at a further date, stating, “We have yet to determine a date for the resumption of trade in the affected coins. We advise customers to protect their interests by either selling or withdrawing the said cryptocurrencies.”

In Japan’s case, the regulatory Financial Services Agency is urging licensed exchanges to de-list any coin that offers “anonymity,” as it believes such tokens can be used to launder money or fund terrorist groups. The FSA is thought to be prepared to introduce formal guidelines if exchanges fail to comply.

Although the South Korean government is yet to introduce an official licensing system through its own financial regulator, Korbit’s decision may come as part of industry-wide self-regulatory efforts. Public confidence in exchanges has been badly shaken in the wake of Bithumb’s controversial plans to list the Popchain token, and charges of financial irregularities leveled at Upbit.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Tim Alper
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CV Market Watch™: Weekly Trading Overview (11-18 May)

Market prices are fighting not to fall through to lower levels, as Bitcoin stopped just above $8,000.

Bitcoin (BTC) was reassuring in the first half of the week, but after a shakedown on Thursday the asset sank toward the $8,000 level, with no chance of breaking above $10,000 soon. Altcoins also retreated.

Bitcoin (BTC) is down to $8.159.81, down 6.5% this week. During the week, the trading profile of Bitcoin changed dramatically. Trading activity for BTC fell to around 30% of all deals.

Bitcoin trading volumes sank to just above $6 billion, and the share of the Japanese Yen fell to lows of 14%, before trading suddenly exploded to above 53%. The share of US dollars fell, after dominating 30% of deals. The influence of Tethers (USDT) decreased from above 30% to regular levels around 16%. The dominance of BTC in terms of market capitalization inched up to 37.6%.

Ethereum (ETH) broke the rising trend, and sank below $700 again, as the asset often suffers through sell-offs. ETH sank by 1.6% net this week, to $684.77. Despite being listed by China as the most robust blockchain in a recent top 28 chart, the price shows weakness and selling pressures.

Ripple (XRP) hovered almost unchanged at $0.67, down around 3% on the week net, after the price was shaken down again. Trading volumes are sinking for XRP.

Bitcoin Cash (BCH, BCC) returned to a lower range, losing more than 15% net this week, to $1200.90, down an additional 6% in the past 24 hours. The asset slumped after the planned hard fork passed on May 15, without an upward effect on the price.

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EOS (EOS) had a mixed bag of days, with some rapid growth, but also setbacks. EOS headed for the weekend with a price of $12.72, down a net 18% in the past week, as the approaching mainnet launch is not helping the price.

Litecoin (LTC) lost 6.5% in the past seven days, to $130.09, down nearly 4% in the past day. The asset did not benefit from the Consensus 2018 conference, where the founder, Charlie Lee, was extremely prominent.

Cardano (ADA) is back down to $0.24, as the asset lost the hype, and erased around 9% in the past week.

Stellar (XLM) remained without change at $0.31, with a net slide of 2% in the past seven days, and a 4% loss ahead of the weekend. The network competes for attention, and the asset’s price has started to drift sideways.

IOTA (MIOTA) slid by nearly 9$ to $1.76, as the Trinity wallet is still in beta testing, and the mentions of potential partnerships cannot lift the asset.

TRON (TRX) hsa found support, sliding only 0.68%, to $0.068. Although the asset may need to be sent to exchanges by the end of May, activity seems subdued.

NEO (NEO) slid to $58.61, down around 10% in the past week, as demand fell, and the Consensus conference failed to inspire price growth.

DASH (DASH) displaced Monero, but slid a net 5% this week to $382.09.
Monero (XMR) is at $189.94, down around 10% this week, as the project has slid after the disabling of ASIC mining.

NEM (XEM) hovered at $0.30, down 4.8% this week, as attention moved to newer digital assets.

The past few weeks showed that a bull market across the board may not be possible, but separate assets manage to chart their own path. Augur (REP) reached a price above $55 on active Binance trading and news on the upcoming mainnet launch. ZCash (ZEC) boomed on a listing by the US-based Gemini exchange. Huobi Token (HT) also started to gain influence.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Christine Masters
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Battle Of The Blockchains: Rival Cryptocurrencies And Who Comes Out On Top

Alexander Hamilton and Aaron Burr, Thomas Edison and Nikola Tesla, Taylor Swift and Kanye West – history is full of legendary feuds and rivalries, and the world of cryptocurrency is no different.

While some insist the competition is good for progress and innovation, too much can be counterproductive, with large amounts of time and resources being wasted on undermining the rival’s efforts. Still, the repercussions of a good competition are always fun to watch from the sidelines, so without further ado we present our 5 favourite cryptocurrency rivalries.

1. Bitcoin vs. Litecoin

While Bitcoin, the undisputed monarch of cryptocurrency, could technically be paired off against any altcoin for this list, we decided to go with Litecoin, the “silver” to Bitcoin’s “gold.” Created by Charlie Lee in 2011, Litecoin was intended to have all of the same functionalities of Bitcoin while improving on its shortcomings.

A bold claim. And given Litecoin’s meteoric rise in value of over 4,000% in 2017, for a while it seemed like it might actually overtake Bitcoin.

But how well does Litecoin actually follow through on its ambitions?

First of all, there are a few key differences between the 2 cryptocurrencies. In keeping with the gold/silver analogy, there is a much smaller supply of Bitcoin (21 million) than Litecoin (84 million). Litecoin, a hard fork of Bitcoin, was intentionally made this way to keep prices down. Thus, while Bitcoin is currently valued primarily as an investment asset, Litecoin may achieve its goal of being used for small purchases a lot sooner – so Litecoin has practicality in its favour.

Second, Bitcoin is notorious for being slow and currently suffers from scalability problems. When it comes to processing transactions, Litecoin is a lot faster and more versatile – it takes Litecoin users 2.5 minutes to generate a block, while it takes 10 minutes with Bitcoin.

When it comes to mining algorithms, Bitcoin uses the SHA-256 algorithm, which is highly complex and has led to the development of prohibitively expensive mining hardware (such as ASICs), effectively putting Bitcoin mining out of the reach of the little guy. Litecoin, on the other hand, uses the much simpler Scrypt algorithm, making mining far more accessible to the average users.

Functionally, Litecoin has in many ways the superior technology. It’s quicker, more useful in daily life, and its creator Charlie Lee has high hopes for where it’s headed. However, when it comes to a coin with political clout and first mover’s advantage, Bitcoin is still the name most people recognise and flock to. Plus, Charlie Lee selling all his LTC towards the end of December 2017 was a blow the Litecoin community is still recovering from.

So in terms of coming closer to filling the role of fiat currency, Bitcoin is currently the winning coin. Just as long as it doesn’t get too comfortable on that throne…

2. NEO vs. Ethereum

Here is another obvious comparison, with NEO often being referred to as “China’s Ethereum.” But is it really as simple as that?

After Bitcoin, Ethereum is the mostly highly valued and recognizable name in the crypto world. It came early to the game, launching in 2015, and made waves by offering users the capacity to write their own smart contracts on top of their open-source blockchain. Like Bitcoin, it suffers from scalability problems, but slowness and its older technology have not stopped Ethereum from becoming the second most in-demand cryptocurrency.

While NEO is a relative newcomer to the crypto scene, launching in December 2016, its price has risen steadily, and in a little over a year it has already accrued a robust ecosystem of dapps and partnerships within the fintech industry. And it certainly mirrors Ethereum in many ways: they’re both decentralised platforms that run dapps and smart contracts. They both host ICOs and have their own native token.

Ethereum might be the obvious giant – their market cap (at the time of writing) is US$65 billion to NEO’s US$5 billion. Nearly every ICO is built on the ERC-20 token platform, and “Vitalik Buterin” is as legendary a name as “Satoshi Nakamoto.” However, NEO has enormous potential that shows all signs of it being able to blow Ethereum out of the water.

First of all, NEO’s technology is faster, more secure, and overall superior to Ethereum’s. It can process 10,000 transactions per second, while Ethereum can only process 15. NEO supports different programming languages – C+ and Java, and eventually Python and Go – and uses the more energy-efficient Proof-of-Stake (PoS) validation to Ethereum’s Proof-of-Work (PoW). And, while Ethereum seeks to dominate the dapp market, NEO has a much grander ambition: to be the platform of the smart economy.

A smart economy is an economy based entirely on smart contracts, which will involve all physical assets and user identities represented digitally. To work properly, this will require strict identity verification, and NEO – crucially – has support from Chinese state-backed banks to make this happen. This is enormous in terms of the future development of NEO; getting on the good side of the Chinese government, who are notorious crypto-sceptics, means NEO will have more or less sole access to the Chinese market.

It’s difficult to say who has the edge in this rivalry. In terms of technology, speed, and ambition, NEO is superior to Ethereum. But does that mean NEO is going to “take over” all of Ethereum’s dapp-hosting functions?

Not at all. It’s still very much localised in China, whose market is robust enough to keep any blockchain occupied for a good while. Plus, Ethereum is firmly entrenched as vice regent of the crypto realm in the West, where NEO is still on the fringes of people’s awareness. So for all practical purposes, we’ll have to declare this one a tie.


ICO of the week:
Vanywhere.com:
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


3. Monero vs. Dash

Monero and Dash are both privacy coins, which tend to raise a few eyebrows, reminding people of darknet and the black market. In fact, privacy coins are coming to the forefront in the digital age, as anti-censorship and protection of our online identities and personal data becomes a hot topic.

Unlike Bitcoin, which is traceable and merely pseudo anonymous, true privacy coins are untraceable and completely anonymous. The market has a long list of privacy coins, some more reputable than others, but at the top of the list in terms of untraceability and fungibility are Monero and Dash.

Dash, to begin with, is a fork of Bitcoin – so it has much of the same function, but with an eye to pick up where Bitcoin left off in terms of privacy, security, and usability. Unlike Bitcoin, whose network is maintained by miners, Dash has a multi-faceted masternode network.

This allows for InstantSend and PrivateSend transactions, which are impossible to be traced by third parties – it is important to note, the PrivateSend function is something users can opt into, rather than private transactions being the default. While privacy is an important feature of Dash, its primary concern is to create a digital currency that people can use easily to make everyday purchases.

Monero, on the other hand, is a fork of Bytecoin, and from a different family tree altogether. It’s fungible, untraceable, and completely anonymous. And Monero is not holding back when it comes to cutting edge privacy features.

Monero runs on the CryptoNote protocol, which makes transactions truly untraceable, as opposed to Bitcoin and its forks, where all transactions and metadata are kept on a public ledger for anyone to look up. Monero ensures complete anonymity using stealth addresses, in which sender and receiver addresses plus amount of currency sent are cryptographically scrambled to anyone except the two parties involved.

Monero also uses ring signature technology, in which funds sent are randomly selected from a group signing pool, making it difficult to decipher who actually sent the transaction.

There isn’t really a contest when it comes to these two coins. While both coins serve their purpose for making transactions, with robust communities and placings in the top 50 cryptocurrencies by market cap, Monero goes all the way in terms of the privacy and anonymity that Dash only dabbles in.

As a fork of Bytecoin, which is itself a fork of the CryptoNote protocol, Monero’s very existence is devoted to honing its privacy features until they’re the very best they can be. So, in the sphere of privacy coins, at least, Monero beats Dash.

4. IOTA vs. ByteBall

In the biz, the term “blockchain” is often used synonymously with “cryptocurrency,” but that is not necessarily the case. In a move away from blockchain, we’re starting to see cryptocurrencies built on a different technology. This is the case with IOTA and ByteBall, which are both built on Directed Acyclic Graph (DAG), a distributed ledger without blocks.

IOTA and ByteBall were both launched in 2016 (July and December, respectively) but they have a few key differences. For example, IOTA runs on DAG technology known as the Tangle, which allows users making transactions to confirm previous transactions in lieu of a transaction fee. ByteBall, on the other hand, charges a transaction fee of 1 BYTE per Byte of data.

But their fundamental difference lies in their scope: ByteBall interests itself in peer-to-peer smart contracts, providing a platform for peer-to-peer insurance or prediction markets (gambling, essentially). ByteBall has also taken a big step towards making cryptocurrency transactions more user-friendly, by offering a feature on their wallet where users can send crypto to an actual email address instead of a long, cryptic alphanumeric address.

IOTA, on the other hand, deals with the Internet of Things (IoT), the exponentially increasing network of inter connectivity between humans and smart devices. IOTA is developing an IoT marketplace, a network of secure, efficient data exchange for the large companies working in the industry – and their zero transaction fees make them a pretty valuable partner.

After a stellar 2017, the upcoming launch of their new desktop Trinity Wallet, and exciting news about joining forces with venture capital companies to build smart cities in China, it’s clear IOTA has enormous potential.

IOTA is still very much in the raw form. With ambitious capabilities in the works such as hardware-as-a-service and data-as-a-service, they’re set to dominate the IoT market once they’re fully fledged. However, their Tangle is not yet stable, and their cryptography is still new to the market.

Therefore, at the moment, ByteBall has the edge, just for its sound technology and features (IOTA doesn’t even offer smart contracts yet). But come back and ask us again this time next year, and we might have a different answer.

5. Lisk vs. Ark

Here we have another pair of parent blockchain (Lisk) and hard fork (Ark). Both platforms have the end goal of bringing about mass adoption of blockchain technology, but they set about doing that in different ways: Lisk by applications, and Ark by SmartBridges.

Lisk, being the original blockchain, has something of a head start on Ark. They already have a few impressive partnerships under their belt, including one with Microsoft Azure. Essentially, Lisk seeks to act as the conduit between companies and blockchain technology, providing an accessible blockchain written in JavaScript as opposed to more esoteric coding languages.

This, in fact, was the driving concept behind Lisk, and it achieves it with a two-punch approach: it offers businesses a main blockchain as well as various sidechains to run dapps. Their ICO at the beginning of 2016 was the 7th most successful in blockchain history, raking in US$5.8 million for a total of 100 million Lisk tokens. Lisk also has a few other winning factors in its corner, including being registered in a crypto-friendly country (Switzerland) and a stellar team, boasting Senior Advisors who previously worked on the Ethereum team.

Ark, on the other hand, has the ambition of creating a web to connect all cryptocurrencies, ultimately building a vast ecosystem of different blockchain platforms. Essentially, Ark’s SmartBridge technology acts as an inter-blockchain translator: once a particular blockchain connects a piece of its code to the Ark system, it is automatically connected to the SmartBridge and can then interact with all the other blockchains on the system.

For example, assuming both of these blockchains are SmartBridge compatible, directions sent over the Monero blockchain could trigger a smart contract on Ethereum. By enabling different cryptocurrencies to act cooperatively, Ark effectively amplifies each of their capacities, as well as the audiences they reach.

While both platforms have innovative technology and sound framework, we give Ark an edge here because of its capacity for linking different blockchains, and for providing the infrastructure for blockchain platforms to work cooperatively. It is Ark, more than any of the other cryptocurrencies mentioned above, that provides credence to the idea that the blockchain revolution truly is more than the sum of its parts, and that blockchains have a lot more to offer in communication with each other than acting alone.

That said, Lisk has had some great momentum in 2018 so far. After a much-anticipated re branding, they have continued to show progress with releases and updates in their tech and ecosystem. If they keep at this pace, they could be setting up Lisk for success in the future.

It remains to be seen how this match-up will turn out.

 


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Author: Anna Snyder
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