PayPal Launches Internal Crypto Platform, Plus Bitcoin, Ripple and XRP, Stellar, Ethereum, EOS, Litecoin, VeChain: Crypto News Alert

From PayPal’s new crypto initiative to the ongoing burst of Bitcoin whale activity, here’s a look at some of the stories breaking in the world of crypto.

PayPal and Crypto

PayPal has reportedly launched a new internal crypto platform designed to teach its employees about token economics.

As reported by Cheddar, the blockchain-based platform allows employees to earn tokens by engaging in company initiatives.

“Employees can access their tokens through the company’s internal website and continue earning more by participating in innovation-related programs and contributing ideas. The tokens, which hold no value outside of PayPal’s walls, are also tradable among employees with each transaction being posted to, effectively, a ‘public ledger.’

…PayPal’s tokens are redeemable for more than 100 ‘experiences’ offered on the platform, including poker tournaments with a couple of their vice presidents, a trail run and coffee with CFO John Rainey, and morning martial arts with CEO Dan Schulman. Gabrielle Scheibe Rabinovitch, the company’s head of investor relations, has offered to let employees borrow her dog for a day, Todasco said.”

Bitcoin

A burst of Bitcoin whale activity continues. Some of the oldest and richest BTC addresses in existence have transferred a total of more than 424,000 BTC – worth more than $1.4 billion – to new wallet addresses.

Here’s a look at 11 noteworthy transactions, as tracked by Whale Watch.

Transaction 1
Transaction 2
Transaction 3
Transaction 4
Transaction 5
Transaction 6
Transaction 7
Transaction 8
Transaction 9
Transaction 10
Transaction 11

None of the crypto has been moved to an exchange, leading to speculation that the wallets could be linked to a large company like Coinbase, that’s moving its assets around for security.

Ripple

Ripple’s chief market strategist Cory Johnson joined a panel on BEFAST TV to discuss where blockchain technology is heading.

Johnson talked about the company’s efforts to push adoption of its cross-border payment solutions and its initiative Xpring, which is designed to boost companies developing on XRP.

Bitcoin, XRP, Ethereum, EOS, Stellar, Binance Coin

Leading cryptocurrency exchange Binance is launching six new trading pairs on Friday.

The exchange is pairing Bitcoin, XRP, Ethereum, EOS, Stellar, Binance Coin with the TrueUSD, a blockchain-based stablecoin pegged to the US dollar.

VeChain

VeChain says it’s working with a historic tea manufacturer in Japan to give customers a new way to verify the authenticity of their purchase.

“By utilizing an advanced traceability and IoT solution, Fuji MARUMO Tea’a customers are able to verify the origin of their tea products by using a smartphone to read the NFC chips embedded on the package.”

The tea company is starting with a trial of VeChain’s technology, implemented into 100 limited edition packages of its products. The trial is a proof of concept for a “larger partnership that will be implemented upon completion.”

Litecoin

Crypto hodlers can now buy the new HTC Exodus smartphone with Litecoin. The phone was previously available only for Bitcoin and Ethereum.


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Author: Daily Hodl Staff
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VeChain (VET) Price Expected to Boom as Bithumb Completes Asset Switch

The Korean exchange activated trading in the new token on September 21.

Bithumb, one of the most active Korean exchanges, has switched to the new VeChain (VET) digital asset, one of the up-and-coming platform coins. Initially, a trading bot discovered the listing, triggering a surge in prices:

A bit later, the exchange issued its official statement and stopped the trading of old VEN coins. VeChain uses the dual-asset model, and only VET will be traded for now. Meanwhile, VeThor (VTHO) is separately finding its marketplaces.

The listing of the VET asset has rekindled expectations of a new price hike. Reddit users are awaiting an immediate effect on the value since Bithumb will provide a diversified trading profile and access to Korean investors.

After the bot tweet, VET climbed from $0.013 to $0.014 at 3:00 UTC. At the time of writing, it changes hands at $0.014262, up around 8% in the past 24 hours. The price increase also mirrors the general market recovery, which has seen all coins posting gains.

Short term, the VeChain project is attractive for the passive income in VTHO from running nodes. VTHO currently trades at $0.0014 on much less liquid exchanges.

Unfortunately, VET no longer outperforms the market and is down 85% from its all-time high. The bullish factor here is that a significant number of the coins would be locked for staking.

Recently, the VeChain platform introduced its first tracking product, aiming to meet the KYC requirements of the crypto sector. In a blog, the company noted:

“The need for KYC and digital ID maintenance is pivotal for blockchain to see widespread adoption across the world not only from a Cryptocurrency point of view but also in general use. Being able to validate, audit, and trustmembers of the system helps reduce bad players as well as allows government and financial institutions better protect its users.”


 

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Author: Christine Masters
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Vechain Will Be The Next Major Blockchain Success Story

  • In September, Vechain announced partnerships with BYD and PICC; two of the biggest Chinese companies in their sectors.
  • This followed partnerships across various sectors in which Vechain plans to help with blockchain-based logistics.
  • The mechanism of its coin put its value directly on the application of its blockchain; something that the billion-dollar partnerships should help achieve.
  • Vechain’s coin has fallen as its still paired with the crypto market, but it is not a cryptocurrency. This presents an intriguing value buy of an undervalued asset.

On September 23rd, U.S. audiences will get some of their first tastes of Vechain – a Shanghai-based blockchain company. This will come via CNBC’s series “Advancements” with host Ted Danson, as he travels to Shanghai to profile the company and its work. You can read more on that here.

Those in the crypto space probably know about Vechain – it’s coin, VET (VEN-USD) (VEN was VET before a rebrand) currently the 19th most valuable cryptoasset in the market. Each VEN token trades for about one and a half cents; after the company did a 1:100 token split to establish its new systems. But more on that later.

The crypto market has had its “bubble-pop” moment in 2018, seeing many coins trade for just 5-10% of their all-time high values. With the “pop” many believe some coins will go to zero. And with reports that several coins valued in the millions have no working product, this makes sense.

But Vechain does have a working product. It’s a product that the company has been developing since 2014: a blockchain-based ledger that helps record large-scale logistics for enterprises. With an original focus on anti-counterfeiting, Vechain has seen its blockchain idea expand to insurance, automobiles, luxury goods, and more. And it’s being used today – both with physical RFID tags the company has developed, and now in part of a recently announced partnership with BYD to work on a carbon credit system.

If that BYD name doesn’t ring a bell, maybe it should. The company is a Chinese car manufacturer. But not just any car manufacturer. A Buffett-backed, $27 billion valued, largest vehicle battery factory builder car company. The one that’s bigger than Tesla. The top electric car maker in the tope electric car market, boosted by a government that wants to see it succeed in making the world’s next great electronic vehicles. That one. And Vechain is now its blockchain partner in a government-backed program to track electric vehicle use and provide rewards for carbon karma.

And that was just last week’s announcement. The week before Vechain announced a partnership with People’s Insurance Company of China (PICC); one of the world’s largest insurers and holders of +$120 billion in assets. The aim is complex: transform the insurance agency with the help of blockchain. Immutable record keeping, faster data transfers, etc…Vechain can help with all of it.

And those were just September. Both partnerships above involve Vechain’s partnership with DNV GL; the European logistics giant, itself one of the largest companies in the world. This partnership was announced earlier this year and saw Vechain’s token price explode to a market capitalization over $6 billion (or about 7x what it is now). Of course, this is when the crypto market was on its bull tear, so perhaps the news of a legitimate partnership like this; where a logistics blockchain company signs on to help a logistics company store and track its entire fleet, maybe have gotten lost in the hullabaloo.

And these are just three of Vechain’s partnerships. Others include the Chinese government itself, Renault, Kuehne and Nagel, Givenchy, and more (longer list here and here). But there’s another big one worth mentioning and that’s PwC – the global consulting and financial services giant. Vechain is a portfolio company in PwC’s Asian office; and the two have been working hand in hand over the last year to deliver on Vechain’s promise for a blockchain-backed world.

VEN Price and Investment

Vechian’s got the partners. But why would you need VET; and how is it an instrument of investment in this promising project?

VET operates as an asset tied to the Vechain blockchain. But unlike Bitcoin it is not a currency and unlike Ethereum it is not a way to “gas” the blockchain’s usage. Instead, VET is value-creating token. Every VET creates an offshoot coin called THOR (VTHO), which operates a bit like a dividend. The more VET you have the more THOR you are given (same wallet); and there are “node” bonuses along the way to incentivizing holding and accumulating. (In the newly released financial report, the company reported that 65% of supply is in the hands of VET holders).

Though it’s not possible to tell how much VET is currently in nodes (some of which have lock-up rules that likely prevent holders from selling), estimates are over 50%.

But THOR is the value-maker here (while the value gets attributed to VET itself). If VET holders can produce THOR for a reasonable ROI, it attracts buyers to and drives VET price up. How does one get to a reason ROI on THOR? Blockchain use.

And that’s why the partnerships are so important. And why the size of the companies is an important early indicator. Ultimately, what will matter is the size of the company’s use of Vechain’s blockchain, because each time the chai is used, THOR is required. That’s the gas that keeps the blockchain going. The team has established a 21 THOR minimum for any transaction, but likely that will rise. And if BYD or PICC wants to use a thousand transactions per day to establish their data on the ledger, they will need THOR. They can get THOR either by (a) buying it from Vechain itself, which the team has hinted at limiting, (b) buying it on the market, which the team has admitted will require them to tweak THOR supplies to keep this from inflating, or (c) buy VET to produce their own THOR. Options B and C should see VET’s value rise significantly, and option A just legitimizes the chain for future clients. All three seem like a win.

But we’re not there yet. It will take months, maybe years, to get these clients to use the blockchain at the levels in which THOR will be “burned” in the millions (as is produced every day). So that means VET is a speculation investment on the back of these promising partnerships. And at a price that’s really 20% of its peak value, it looks like the most promising blockchain and crypto bet I’ve seen.

Buying VEN

In what may be a simple reason for VET being undervalued at the moment, it’s difficult to buy the cryptoasset with fiat (national currency). You can see VET’s trading pairs here – the top fiat pairing is Bitfinex which one can see has a low volume. Most trading is done through Tether or Bitcoin. I think this gives VET opportunity to grow; as there’s no volume or easy on-ramp (like Coinbase) for USD pairing and still no KRW or CNY or JPY pairings. Same with the Euro and the Pound. (This may be for another article, but this means that VET pricing is still tied to BTC and ETH and the overall market. Which has meant that as Vechain adds these partnerships in mid 2018, the coin has gotten cheaper).

You can trade for VET on Binance (recommended way) or any of the other markets listed in the link above.


Source
Author: Seeking Alpha
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IoT Crypto VeChain Price Surges 50% Overnight, Factors Behind the Spike

VeChain, a China-based Internet of Things (IoT)-focused crypto, has surged by more than 50 percent in value within the past 24 hours.

LIONBITAnalysts have attributed the increase in the price of VeChain to the successful series of partnerships the team has been able to secure since earlier this year and the improving momentum of tokens in the global cryptocurrency market.

Major Partnerships

In May, CCN reported that Pricewaterhousecoopers, a “Big Four” auditor better known as PwC, acquired stake in the Chinese cryptocurrency with the intent of utilizing the VeChain IoT network to serve multi-billion dollar clients and conglomerates that rely on the services of PwC.

At the time, Raymund Chao, the chairman of PwC Asia Pacific and Greater China, said:
“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”

The involvement of PwC has been crucial for VeChain’s performance over the past three months because it meant large-scale conglomerates have to started to demonstrate interest in the VeChain blockchain protocol.

The strategic partnership between PwC and VeChain in May was especially valuable because PwC acquired a small ownership interest in the VeChain network, with the plan of collaborating with the VeChain development team as an investor, not as a client.

It is important to acknowledge the participation of PwC in the long-term growth of VeChain because the vast majority of partnerships secured by blockchain projects in the cryptocurrency sector are often deals that state multi-billion dollar conglomerates as the beneficiaries.

TIPFor instance, many projects have claimed to have secured strategic partnerships with major firms in the technology sector such as Google and Microsoft, but the actual nature of the deal revolved around the projects paying the conglomerates for their services, not the other way around.

Since May, VeChain has aggressively expanded its services internationally, winning a contract with the government of China to develop a vaccine tracing solution.

Despite the Chinese government’s ban on cryptocurrency trading, it has allocated more than $3 billion in 2018 alone to state-funded blockchain funds, primarily to finance blockchain start-ups and innovative technologies.

This month, China’s Ministry of Information Technology ordered local financial authorities and agencies to speed up the development and commercial implementation of the blockchain, which will positively impact companies like VeChain that are actively cooperating with the Chinese government.

“The industry remains in a nascent stage. While the technology has brought benefits, it could also bring risks such as technical loopholes, and challenges to current systems and norms, the ministry said. The ministry also said it will work with local authorities to push for healthy and orderly development of the industry,” the report of Xinhua, a state-owned publication, read.

Other Factors

The abrupt price surge of VeChain was evidently fuelled by the general recovery of the cryptocurrency market and the re-established momentum of tokens. But, the valuable partnerships the company has been able to secure since early 2018 drove its recent momentum and will likely continue to positive impact its long-term growth.


IZXHere 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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VeChain supported by LedgerHQ along with X Node binding

On 8th August, VeChain Foundation on their official Twitter handle announced that VET/VTHO can be now stored on the LedgerHQ. The wallet that can now support X Node binding as well.

LIONBIT

Along with this, the team has also announced that VeForge Vault, a platform developed by Totient Labs, can now be utilized to support VET/VTHO digital assets.


LedgerHQ is an organization that ensures safety and security of cryptocurrency undertakings. It is best known for creating Ledger Nano S; a hardware wallet that gives digital currency holders a protected method for the storage of tokens.

A statement from the official announcement of VeChain stated:
“Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users. With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.”

Reports state that Nano S is a well-known hardware wallet in the market which ensures the safety and security of various crypto assets.

TIP

It caters to the requirements of financial bodies with interest for digital cryptocurrencies. It has created the Ledger Vault; a solution that has been customized for financial organizations. Ledger has backed not only VeChain but many other cryptocurrencies such as ICON, WanChain, Ontology, Kowala, etc.

Totient Labs is a technology company based in San Francisco. The organization has developed blockchain projects that would promote the adoption of the emerging technology, especially the VeChainThor stage.

Totient’s first project is the VeForge Blockchain Explorer. It enables clients to monitor the activities on the VeChainThor blockchain utilizing network analytics.

Earlier last week, VeChain collaborated with a Japanese mobile network company, NTT Docomo to launch a 5G program to boost data services which will be launched by 2020.



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: Gautham Kadri
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VeChain Is Chosen for the NTT Docomo 5G Partner Program

VeChain is proud to be chosen by NTT Docomo to be the first batch of partners for the 5G Open Partner Program launched by NTT Docomo, the largest telecommunication company in Japan.

5G is a high-speed/capacity network service which NTT Docomo aims to materialize its industrial usage in 2020.

As the world’s leading enterprise public blockchain platform, VeChain aims to provide next-generation technology services by utilizing 5G in collaboration with NTT Docomo on the VeChainThor Blockchain.

LIONBIT

Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users. With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.

We are proud to participate in this program, collaborating with multiple cross-industry enterprises. This partnership program has already opened new doors for further cooperation on new endeavors. As a result, many new partnerships have been formulated and services will be onboarded to the VeChainThor Blockchain. Notably, VeChain is currently in close talks with a leading company in one of the most notable Japanese industries. By combining our technology with NTT Docomo’s 5G, the power of the VeChainThor Blockchain continues to become stronger.

About NTT Docomo

NTT Docomo is the largest telecommunication company in Japan, which was founded in 1991. In Mar 2018, with a 45.3% share of all mobile phone subscriptions, Docomo is the leading carrier in Japan. NTT Docomo has also broadened its business into smart life such as the distribution of digital content and mobile payment etc. Now Docomo aims to materialize industrial usage of 5G in 2020, which is also the year of Tokyo Olympics. The usage involves the technology of cloud, IoT, in order to realize new ways of watching sports games involving VR/AR technology, automatic drive and smart lifestyle etc.

The market capitalization of NTT Docomo ranked 2nd in Japan, after Toyota, in 2018.

Among the top 500 most valuable brands, NTT groups ranked 20th.

Operating revenue: 4,769.4 billion JPY, Mar.2018

TIP

About Docomo 5G Open Partner Program

Aiming to materialize industrial usage of 5G in 2020, NTT Docomo launched Docomo 5G Open Partner Program in Feb. 2018, to involve a wider range of partners. Consequently, there will be more possibility of creating new scenes under 5G environment.

In this program, NTT Docomo provides the environment of 5G technology verification, as well as the workshops for partners to communicate with each other.

Some major partners in the program include governments and reputable enterprises in multiple industries such as banking, automobile, media, pharmaceuticals, insurance, IT service, etc.

MUFG Bank
The Asahi Shimbun
Tokio Marine & Nichido Fire Insurance Co., Ltd.
Astellas Pharma Inc.
Sony
Okinawa Prefectural Government

As partners, participants are able to construct their new services under the environment of 5G before 2020. Utilizing the characteristics of 5G(high-speed/capacity, low-latency, connecting several devices) it is now possible to enhance the quality of our services and create new ones.

With the wide coverage of Docomo in Japan and its strong brand power, VeChain is able to bring traceability use cases in Japan into our ecosystem utilizing the 5G environment.


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Author: VeChain Foundation
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VeChain Thor officially launches mainnet blockchain, announces token swap

VeChain has announced that its own network is now live, the first block has been mined and users of the platform can soon expect a token swap.



VeChain is aiming to create a decentralized ecosystem with fully traceable products and is hoping successfully to combine blockchain technology with hardware tracking devices.

Using a Proof-of-Authority consensus algorithm, the blockchain’s main network launch was prepared by establishing the first authority master node. This has been criticized over the potential for centralization, but VeChain has suggested instead that this mechanism is going to be beneficial for businesses, as it will offer a higher-performing network and will be best suited to cater for supply management.

Before the launch of its own blockchain, the VeChain Token’s network existed on the Ethereum blockchain as an ERC-20 and the project plans to undergo a token swap, changing from VEN to VET in mid-July.

For now the cryptocurrency’s foundation has provided details of the timeline moving forward for the token, stating that mobile wallets and the token swap are still on the way.

Bithumb, a major Korean-based cryptocurrency trading exchange, has announced that it is in support of the token swap and the process will be “carried out automatically without requiring any further actions from [their] customers.”

VeChain’s token is currently down by -2.37% day-on-day, and, at press time, is trading for $2.56 USD.


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:  REBECCA LEIGHTON
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VeChain Arrives: What to Know About the $1.5 Billion Blockchain for Business

Yet another top-20 cryptocurrency has officially released live software.
As of 0:00 UTC Saturday, the first block on the VeChain blockchain, whose token supply is valued at $1.46 billion at writing, has been mined, marking a milestone for a project that aims to be among the first to convince enterprise businesses to adopt code tied to a crypto asset traded on a public market.

Seeking to address obstacles with public blockchains like ethereum and bitcoin (namely alleged governance inefficiencies, economic model issues and application design difficulties), the project also hopes to eclipse solutions like Hyperledger that have so far been the go-to platforms for business.

In short, founded by former CIO of Louis Vuitton China, Sunny Lu, VeChain hopes to be the first to put “real business” applications on a public blockchain.



“Right now, if we look at all the existing public blockchains, there is a common economic model which is from bitcoin that tries to motivate more people to join the network,” Lu explained.”The cost to use public blockchains is linked to the token valuation on the blockchain directly.

For the execution of more exotic blockchain features like smart contracts and decentralized applications, Lu argues this is a problem.

“It kind of generates a typical paradox which is, the more utility, the more use cases, the higher valuation of the token. It also means a higher cost to use the blockchain, and that means no one will use it anymore if the cost is too high.”

To solve this, VeChain uses a twin token system in which its VET asset functions as a store of value, and the VeThor token represents the underlying cost of using the blockchain. (The project is not alone in using such a system. Both Neo and Ontology also support twin tokens that seek to break up user behaviors.)

Still, another means by which VeChain has sought to differentiate is by emphasizing what Lu calls “ready to wear” software that reduces development time and costs.

“All of the public blockchains running in total decentralization mode are like naked blockchains to most enterprises,” Lu said. “Because it’s just open source for the core codes, if you want to build up an application, you’ve got to do everything by yourself starting from scratch.”


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But perhaps what distinguishes VeChain from its competitors is the extent to which enterprises are already said to be involved in that process. VeChain boasts partnerships with automobile manufacturers BMW and Groupe Renault, and global quality assurance and risk management company DNV GL.
Some partners, like DNV GL, have even taken on a more technical role in the project’s execution – specifically within its governance system, a key part of VeChain’s pitch to businesses.

Notably, the project uses a system called “proof-of-authority” (PoA) to govern how its blockchain rules can be altered, which Lu says offers enterprises “a balance between decentralization and centralization.”

VeChain is not the first project to attempt to walk this line.
EOS and Tron have also experimented with new governance models in which software users are positioned as “community members” that can use their tokens to elect delegates (nodes) to validate blocks.

In this way, VeChain’s consensus system has two components. The first, what Lu refers to as the “decentralized part,’ is that token holders have the ability to vote, and that the weight of their vote corresponds to the number of VET tokens they hold and whether or not they complete a KYC process.

Some token holders, like DNV GL, also run nodes, and to do so, must meet certain requirements.
“Every node will have specifications, not only about hardware, but about the security level and process, how to manage your nodes and your contribution to the VeChain community,” Lu told CoinDesk.

All voters use their “voting authority” to have a voice in decisions about technical modifications to the blockchain and to elect VeChain’s “Steering Committee.” This is what Lu calls “the centralized part,” which is the seven seat governing body of the VeChain foundation and its blockchain.

“Those seven seats of the committee, we will execute any decisions coming from the voting process, even including who should be next in the Steering Committee,” Lu said. “By doing that, you maintain the publicity or transparency of a decentralized part and also maintain the efficiency of a centralized part.”

So, while decentralization maximalists have been critical of the DPoS and PoA systems, businesses don’t seem to share their concerns.
Renato Grottola, senior vice president of digital transformation and M&A at DNV GL, told CoinDesk that he believes VeChain’s governance model represents “an optimal balance between centralization and decentralization, reducing uncertainty related to future developments.”

Likewise, Danny van de Griend, CEO of MustangChain, a startup which intends to use VeChain’s technology to create a more transparent equine industry with better data accessibility agrees.
“If you want to have it fully decentralized, it can become a mess,” he told CoinDesk. “You need a good balance between centralized and decentralized.”

De Griend continued:
You don’t have to think about the basics anymore. Those basic protocols are ready to be used, so you can think more now about, ‘What can I develop now for the stakeholders?'”
Grottola added that this makes it easy for DNV GL to develop supply chain-specific solutions,
“VeChain has been conceived as a platform; it combines blockchain technology with IoT and AI thus offering the possibility to develop supply chain solutions both at product/asset and enterprise level.”

But the launch Saturday won’t mark the end of VeChain’s development.
While Saturday marks the creation of the genesis block and the start of the generation of VeThor tokens, the blockchain won’t be fully functional for some time. Before the technology can be truly live, VeChain must migrate its tokens from the ethereum blockchain to its mainnet, a process scheduled for July.

Likewise, Lu acknowledges that mainnet launches, in which large sums of cryptocurrency are handled and transferred by developer teams, always come with risk.
“We have some enemies for sure,” Lu said. “People will try to attack.”

For this reason, he added that VeChain has enlisted several cybersecurity firms to conduct testing on its code prior to the launch. Likewise, the project has an “emergency response team” (ERT), which will “monitor the entire mainnet launch” to respond to issues.
According to Grottola, DNV GL is confident that VeChain’s measures will be sufficient to ensure a smooth launch.

“This is a normal practice in business, [but] not so common for crypto startups. That kind of structured approach has been one of the key criteria for choosing the VeChain initiative among other concurrent platforms,” he said.
Yet, partners are optimistic. Kurt Connolly, senior vice president of business development at sports and gambling platform Decent.Bet, which plans to use VeChain’s technology, said the company thinks the odds of a successful launch are in VeChain’s favor.

“We’re realists. We know that the next ‘perfect’ product launch will be the first ever ‘perfect’ product launch. There are always bugs to fix here or 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: Annaliese Milano
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Is VeChain Bulletproof? Blockchain Launch on Schedule After Zero Bugs Found

It looks like VeChain will meet its goal of launching its own blockchain by the end of the month.


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The company’s CEO Sunny Lu says the platform’s bug bounty program discovered zero critical bugs. He says he will personally double the bounty to encourage more hackers to try to break the code.

That means anyone who discovers a critical bug can now earn $20,000.

Call for Tech Forces of VeChain Community! So far, we have received only few minor issues and 0 critical. We need your help to look at more seriously and I will personally double the reward of bounty of bug hunting.

Vechain is planning to leave the Ethereum network, release its mainnet software and begin booting up its own blockchain on June 30th.

Once the blockchain is up and running, the VeChain coin will no longer be an ERC20 token, and its symbol will change from VEN to VET.

You should check with your exchange to make sure your coins will migrate over to VeChain’s new network. Well-known exchanges are expected to handle the token swap automatically.


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: Daily Hodl Staff
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Is Now Good Time To Buy Litecoin (LTC), Cardano (ADA), VeChain (VEN), Ripple (XRP)?

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With current market bearish, one question many would-be investors want to be answered relates to whether it’s too late to buy Litecoin (LTC), Cardano (ADA), VeChain (VEN), Ripple (XRP).

The 2017 cryptocurrency boom left many early adopters and investors in coins like Bitcoin and Ethereum reaping enormous returns. Some were turned into instant millionaires, and investing in crypto has become one of the hottest investment opportunities out there.

With many altcoins predicted to wither into oblivion in the near future, buying means weighing up options against that possibility.

Litecoin (LTC)
Litecoin’s price movements have been quite disappointing over the years. It hasn’t rallied to hit exorbitant highs as some would have thought. LTC reached a high of $375 during the last crypto boom but is now trading at $118. Though the trajectory is similar to most other top coins, its slow upside moves disappoint.

However, it’s not too late to invest in this coin. Apart from the current downtrend being an opportunity to buy low, there’s another reason for buying it. Litecoin’s technology closely mirrors that of Bitcoin, but it has improved speed and has low fees. It’s, therefore, gaining a lot of attention as a possible alternative where BTC proves too slow or too expensive to use. It also is getting wiser acceptance as a micropayment currency- all pointing to a possible eventual global use.

LTC may drop to a low of below $100 but has the potential to recover to rally to its ATH if market sentiment improves.



Cardano (ADA)
One thing that makes it not too late to buy ADA is its low price that has plenty of room to grow. Just at $0.19, Cardano’s value is far away from its all-time high of $1.25. Although the coin has lost too much in terms of value, it’s expected that the platform’s steady growth will help the prices to rally once again.

The current tough run could, therefore, be taken as a good time to buy ADA. However, if one is expecting quick returns, then its best you check elsewhere, as the strategy here is to go long.

Why is going long appropriate? NO coin can boast having been developed from a peer-reviewed scientific approach. On top of that, the unique Ouroboros protocol and the versatile Daedalus wallet make Cardano one of the most secure coins in the market.
Then the most telling sign that Cardano isn’t done yet comes from its three-pronged approach to developing the ecosystem. IOHK, Cardano Foundation, and Emurgo will likely make the coin reach wide adoption faster than many other altcoins.

VeChain (VEN)
VeChain will launch its VeChain Thor mainnet slightly more than a month from now. By then, if you hold 1 VEN, you qualify for 100 VET. Nothing much will change in terms of value. For example, holding 1 VEN at the current price of $3.46 will get you 100 VET at $.0346.

Once market list VET tokens and trading begins, prices will adjust depending on prevailing market conditions.

Nevertheless, there’s one thing to watch out for: the possible explosion of use cases involving VeChain’s platform. Many enterprises are expected to utilize VET as more partnerships are formed. At the moment, the VeChain team has secured some of the most ambitious partnerships in the supply chain, logistics, insurance, agriculture, and IoT among many others.

The split into a dual token has a lot of incentives for users and could play a role in further adoption and use. The expectation is that demand for VET will lead to a significant price increase for VEN. The demand will be driven by the need to give enterprise users flexibility by maintaining high liquidity. It’s therefore not too late to buy VEN, especially if the team implements the recently released roadmap milestones.

Ripple (XRP)
Let’s understand that between 2015 and the market boom last year, the value of XRP rose +3,500% from $0.02 on January 2, 2015, to $3.84 on January 4, 2018. For anyone who had got in earlier than then no doubt reaped huge returns. It, however, has tanked to the current $0.62 against USD. Can its value rise again to close in on the all-time high figure?
Ripple (XRP) is a crypto much capable of getting to new highs at prices, with recent expansions making it very possible. The massive efforts of the team at Ripple Labs have resulted in some impressive partnerships. It is expected that these partnerships will play a big role in increasing XRP demand and thus its value. Banks and financial institutions remain XRP’s main hope of penetrating the cross-border payments sector, and there are some solid moves with the xRapid platform.

Fintechs and other MSBs could be the path to XRP’s price explosion. However, the crypto faces a lot of other pressures including regulatory uncertainty that affect sentiment. For XRP, reaching the $3.00 level is a bit tricky, unless the cloud clears. However, it’s possible to realize better prices than the current ones.

Conclusion: it’s expected that most of these coins will regain some portion of the lost value when the market turns bullish. However, it doesn’t guarantee long-term price gains. Thus, before you invest, consider the attendant risks and be open about your expectations.



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Author: MaxPositives
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