“I’m Going to Watch It Growing.” Peter Gabriel Invests in Blockchain

When famous singer Peter Gabriel first sang, “I’m on my way, I’m making it” in 1986, his first thought may not have been blockchain technology more than three decades later. However, it would seem now that what he considers “so much larger than life” as his song Big Time (see below) says is exactly that, as he is now funding British tech startup Provenance.



Provenance was one of the early leaders to track products along a supply chain on the blockchain. They are now looking to implement blockchain on over 1,000 food and drinks businesses by 2025, and set a new standard for consumer trust in food.

According to a press release of the startup, Peter Gabriel said, “We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way.”

Bringing in musicians to boost the popularity of a tech startup is not unheard of. And this article is the proof that it works. While focusing on the singer, the press release also mentions that Provenance has secured additional funding from its existing group of investors, led by Working Capital Fund, including Digital Currency Group, Merian Ventures and Plug and Play, as well. No further details about the funding were given.

However, Peter Gabriel is not the only musician making into blockchain news these days. Imogen Heap, two-time Grammy Award winning musician, has launched a digital licensing and distribution platform built on a smart-contract blockchain platform. Mycelia for Music is a management suite for musicians as well as an ecosystem which allows for musicians to manage their works on a decentralized platform.

It tracks the history of an artist’s work with new mechanisms for online music purchases and streaming.

It seems to be only a matter of time until we get a song about the blockchain, at this point – or are we already there?


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: Sead Fadilpasic
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Is it Worth Signing Up to 0% Commission Exchanges?

Most cryptocurrency exchanges charge between 0.1% to 0.25% commission on each trade. While this may not seem much, for active traders who enter and exit positions on a daily basis, exchange fees add up and eat into their trading profits.


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To provide a solution to this problem, a number of zero-fee exchanges have been launched. However, are these digital exchanges really a better alternative to the large fee-incurring established exchanges?

Top 5 zero-fee exchanges by 24 hour trading volume (GMT 7:20 AM):
1. BitMEX (USD 2.75 bn)
2. Quoine (USD 124m)
3. Fisco (USD 68m)
4. Zaif (USD 68m)
5. CoinBene (USD 61m)
Source: coinmarketcap.com

Zero-fee exchanges are not free
There are two types of zero-fee exchanges. There are exchanges that do not charge trading fees on specific currency pairs, such as BitMEX for USD/BTC for example, and there are exchanges that charge zero trading fees across the board, such as the recently launched digital currency exchange Cobinhood.

The former have enabled zero-fee trading for specific currency pairs to attract more users to their platform so that users trade other currency pairs or other financial products, such as digital currency derivatives, for which trading fees are being charged.


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Full zero-fee exchanges, on the other hand, do not charge trading fees on spot trading but usually charge a fee for margin trading or other products they offer. Cobinhood, for example, does not charge a fee for spot trading or margin trading but does charge fees for its ICO service, where it aids blockchain startups in launching their token sales.
Zero-fee trading platforms are obviously still for-profit businesses and will charge their users elsewhere such as withdrawal fees, margin trading fees, or for other products or services.

Are zero-fee exchanges worth it?
When it comes to choosing a cryptocurrency exchange, there are many factors that need to be considered. Fees are only one of these factors. Others include reputation, security, accepted payment methods, geographical location, whether they are regulated or not, user-friendliness and, perhaps most importantly, the number of currency pairs on offer.
Zero-fee exchanges such as Cobinhood and Quoine can help active traders to reduce their trading costs and, thereby, indirectly increase their profits. That is their key selling point.
Having said that, all zero-fee exchanges available today are limited to only a few digital currency pairs, which is not very helpful for altcoin traders or those looking to actively trade ICO tokens. Furthermore, most zero-fee markets are found on Asian exchanges, which are not always accessible to those in other regions. Also, most zero-fee exchanges are largely seeing low trading volumes compared to the most popular (fee-charging) exchanges such as Binance, Bitfinex, GDAX, and Kraken. That makes trading large volumes more difficult on zero-fee exchanges. However, in terms of trading volume BitMex is the largest bitcoin exchange now.

The zero-fee exchange model is definitely growing in popularity, even if it is mainly used as a way to attract users to then charge them for other products or services. Having said that, currently, cryptocurrency traders seem to be ok with being charged a commission on each transaction as the bulk of trading volume still occurs on fee-charging exchanges.


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: Alex Lielacher
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EOS claims that it is more decentralized than its competitors

EOS which entered the market with a bang is one of the biggest losers in the current market with a decline of 31.72% in the last 7 days. In the last 24 hours also the currency has declined at the rate of 12.70%, its price has declined to $12.22 and the market cap is just above the $10 billion mark. These figures have triggered the company to come forward and present positive facts about the company which can boost its current market scenario.
The CEO of the company Brendan Blumer in a recent video stated that EOS.io was designed to solve the issue of centralization. It was the main aim of the technology.

CEO, Brendan Blumer says,
“If you take a look at the proof of work, which is really an incumbent way of processing blockchain transactions today. Both electricity and hardware is cheaper in bulk what that ends in is centralized mining pools controlling the network”

Brendan Blumer added,
“If you look at the largest platforms today, less than two or three mining pools control those networks.”
He further elaborates on how EOS.io platform is different than these platforms as in EOS.io blockchains the token holders are able to elect twenty-one block producers in order to process transactions and restore the power or distribute the power amongst the token holders in an alliance of interests of all the parties involved.

Bart Wyatt an engineer joins the CEO to specify how though the blockchain cannot be completely decentralized it is more decentralized than the others.

Bart Wyatt says,
“EOS.io as a blockchain, technology, a community is probably one of the most decentralized versions of this technology we have ever seen and I think most of the community itself is catching up on the idea.”
He continues with the claim that the amount of latitude EOS has given to the community to change governance, the way the chain operates, everything is through their own consensus mechanisms after the launch of the chain is staggering.
The biggest difference between them and their competitors in the technology is how much they have decentralized even some of the core concepts of the chain.

The CTO Daniel Larimer says,
” I truly believe that true decentralization is when there are open source and free market competition which EOS supports completely and looks forward to good competition in the market.”


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: Aman Swami
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