PlatinCoin (PLC) Recognized among World’s Top 200 Cryptocurrencies

PlatinCoin (PLC) Recognized among World’s Top 200 Cryptocurrencies
As of today, Platincoin (PLC) capitalization totals $9 559 220
Daily trading volumes increased to over $2.5 million. The total number of PLCs currently in circulation is 700,000.
At the moment, PLC is traded at $ 13.66. Since the beginning of 2019, its growth rate reached about 11%. And once it was listed on Coinmarketcap, the price has grown by 254%.
Alex Reinhardt, Platincoin’s founder and CEO, commented on the event:
“It took our international team a few months of hard work to make it to the Top 200. We thank CoinmarketCap for its high appreciation of our efforts. Platincoin’s strategy is aimed at continuous development of its own business and expanding the infrastructure of the entire crypto market. We believe in the potential of blockchain technologies and are confident that the future lies with them.”
Coinmarketcap (CMC) is a reputable portal tracking cryptocurrency capitalizations. Listing with Coinmarketcap serves as a seal of excellence for each coin. In order to make it to CMC, a crypto project must prove its technological value and benefits for the market and go through a tough selection process organized by the platform moderators.
PlatinCoin (PLC) Recognized among World’s Top 200 Cryptocurrencies

BitTorrent (BTT) Rises Sixfold As Majority of Altcoins Are Drowning

BitTorrent (BTT) Rises Sixfold As Majority of Altcoins Are Drowning
BitTorrent, the company acquired by Tron, has seen great success in the public sale of its BTT Tokens. The company raised millions of dollars in a matter of minutes, despite the fact that some technical difficulties took place. The news has been published on Twitter by Tron CEO Justin Sun.
Now if we look  at the time Binance began trading the digital asset, BTT has been jumping and switching between 88% and 77% value rise just over an few hours in the time of writing.
As at the time of writing, BTT is trading at 0.000548 against Bitcoin (BTC) on Binance Exchange.

#BTT was officially launched on @binance, you can trade BTT/BNB, BTT/BTC, BTT/USDT. Happy trading. $BTT
— Justin Sun (@justinsuntron) January 31, 2019

The first session allowed users to purchase BTT tokens using BNB at a pegged price of 0.00001824 BNB. In other words, 1 BNB was equal to 54,824.56 BTT. This session sold out a total of 23.76 billion BTT and it was completed in 13 minutes and 25 seconds.
In the second session, users were able to buy BTT with TRX (1 TRX = 223.58 BTT). During this session, there was a minimum buying requirement of 100,000 BTT and a maximum one of 166,666,666. The session was completed in 14 minutes and 41 seconds, selling all availabl 35.64 billion BTT.
In total, the ICO sold 59.4 billion BTT which is equal to $7,128,000.
According to the project’s official website, BTT tokens can be bid in exchange for quicker downloads on BitTorrent. Think FastPass at Disney World. Though why this feature requires its own token instead of simply using bitcoin or Tron isn’t clear.
Justin Sun revealed that the BTT airdrop for TRX token owners is going to be available on Coinsuper:

#BitTorrent(#BTT) airdrop for #TRX holders will be available on @Coinsuper_OFCL. #TRON $TRX
— Justin Sun (@justinsuntron) January 29, 2019

For better or worse, Justin Sun has a reputation for being an absolute master of hype. Sun’s marketing savvy has been on full display over the past few weeks as Tron has been gearing up for the launch of the new BitTorrent Token (BTT).
The highlight of the marketing blitz came at mid-January’s niTRON 2019 conference, where Sun shared a stage with basketball legend and venture capitalist Kobe Bryant. He also confirmed BitTorrent (BTT) giveaway for those whose orders were not processed during token sale
At the same time, the BitTorrent Token launch has come under criticism from former long-time BitTorrent chief strategy officer Simon Morris and others. Conceding that Sun has “a very nice personality from a marketing point of view,” Morris generated a lot of headlines with his claims that Sun “doesn’t have a technical bone in his body” and that the Tron network was completely incapable of handling the huge transaction throughput required of BitTorrent’s 100 million active monthly users.
Tron [TRX]’s march towards mainstream adoption has been boosted by multiple update announcements and shout-outs by several luminaries in the cryptocurrency space. At a time when the entire industry has come under attack by the bear, Tron has been rising slowly but surely, piping other cryptocurrencies to claim the 8th position on the charts.
The latest news from the Tron stables is that of the BitTorrent token [BTT] public sale which was conducted successfully on January 28. The airdrop was also assisted by Binance with Changpeng Zhao, the Chief Executive Officer of Binance commending the process as well as the short time that it took to conclude. Justin Sun had tweeted:
“It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds. #BTT $BTT #BitTorrent #TRON”
Concerns Regarding Participations
Also worth mentioning, that this rate is 600% higher than that available during the token sale event. However, happy owners of BTT still didn’t the coins and thus cannot participate in the current trading.
Concerns emerged from users who attempted but failed to participate in the ICO. Apparently, because of the large demand, not all users saw their orders executed.
This was confirmed by Changpeng Zhao, CEO at Binance, who explained the issues in a tweet:

Full transparency. The issue experienced today was caused by the "user agreement confirmation" button caching/locking. Most of the stress tests focused on the buy process, this part was not covered thoroughly enough. The order of requests received was preserved.
— CZ Binance (@cz_binance) January 28, 2019

CZ later elucidated on the problem by confirming that the public sale glitch had occurred due to the “user agreement confirmation” button caching/locking. He even admitted that the earlier stress tests on the platform had focused on the buy process while the button was not covered thoroughly enough. At the same time, he confirmed that the order of requests was fully preserved. CZ also added that the process does not need a redo as suggested by some “bear cries”.
One of the other major takeaways from the sale was the camaraderie between Tron and Binance, majorly focused on the Justin Sun-Changpeng Zhao dynamic. This was highlighted when CZ announced:
“Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying. Exact numbers will be published soon.”
Anticipation for the BTT token sale led the price of TRX to rise by 134% in a bear market. This was due to the expectation that BitTorrent will be the first and one of the largest applications of a distributed app powered by a crypto project.
The token sale did not deviate from this claim. As a result, the expectations are set very high from this point forward. Now that the money is in, it is time for the BTT and Tron team to deliver a great product.
BitTorrent (BTT) Rises Sixfold As Majority of Altcoins Are Drowning

Tesla is attacking the biggest auto market in the World – China

Back in the beginning of November 2018, Elon Musk announced that all production of Tesla battery modules and packs would be sourced for the new Mega Factory in Shanghai. Tesla is however, now looking for a new battery supplier.
Musk also mentioned several problems with the company’s Model 3 supply chain. This is why in November he mentioned that Tesla is looking to diversify its sources.

Tesla will manufacture all battery modules & packs at China Giga, as we do today in California & Nevada. Cell production will be sourced locally, most likely from several companies (incl Pana), in order to meet demand in a timely manner.
— Elon Musk (@elonmusk) November 2, 2018

Earlier this month, Tesla’s brand new $2 billion factory became operational. The company will aim to produce relatively affordable electric vehicles. This will allow the company to set up stable foundations in the Chinese auto market which is by far, the biggest in the world.
Tesla is entering the biggest auto market in the world
Officially, there are no details disclosed to the public as of yet. Tesla however, revealed that the Chinese battery manufacturer Tianjin Lishen already send quotes to be a battery supplier for the Mega factory. There are whispers for an already signed preliminary agreement between both parties. If that turns out to be true, then Lishen is probably still trying to figure out which battery cell size Tesla will need.
In China however, a preliminary agreement can mean anything from an acknowledgement to a statement of interest. This means that Tesla is most likely currently exploring all potential options. When asked to comment on the possible future partnership with Lishen, company representatives simply stated:
“We did not sign any form of agreement with them at the present time”
Lishen also released a similar statement, confirming that nothing has been signed with Tesla in regards to supplying batteries for the Mega factory.
At the moment, Tesla’s supplier is the Japanese behemoth, Panasonic Corp. Panasonic is currently taking hits because of Tesla’s supplier diversification filtered out last week. This has resulted into a 2% drop in Panasonic share price despite the conglomerate announcing a new joint project on alectric batteries with Toyota Motor Corp.
Other potential candidates for the Tesla battery contract could be LG Chem Ltd and Contemporary Amperex Technology. Both of these Chinese battery makers could still make the cut because nothing seems to be set in stone.
Read more:

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Crypto Winter to Turn Nuclear if Price Drops Below $3000

There has been much debate on where the bottom for bitcoin is. Vinny Lingham believes that if the price drops below $3000, there will be serious consequences. The CEO of Civic states that if bitcoin goes under $3000, the crypto winter is bound to become nuclear. Linghman’s worried that the crypto winter might just be the beginning.

If we break below $3000 for Bitcoin, “crypto winter” will become “crypto nuclear winter”…
— Vinny Lingham (@VinnyLingham) January 28, 2019

If the last two months have showed anything, is that there are huge buy walls by major crypto exchanges. Bitcoin has been relatively stable as it hovered around between $3500 and $4000.
The crypto winter is long
Despite that short period of stability, Bitcoin was close to a dip below $3000 on December 14th 2018. That’s the time where the currency reached its 12-month low at $3122. This is where the buy walls by major crypto exchanges became visible.
The CEO of Three Arrows Capital, Su Zhu back in December 12th:
“Coinbase’s buy walls are now the biggest. A break will inevitably require filling the fiat-backed bids. Derivatives selling will simply lead to funding becoming as negative as possible.”
2 days after his statement, Bitcoin reached the yearly low, but almost instantly recovered back to $3300 thanks to the huge buy walls on major exchanges.  Mark Dow is a trader who managed to short all of his Bitcoin near the $20 000 all-time high. He recalls that the last time Bitcoin demonstrated a prolonged period of stability, the result was a 50% price decline.
This is why Dow thinks the bear market has probably not hit the bottom yet. He stated:
“There is a period of dead silence for several weeks now. The last time there was such silence was when the price was at $6500 and we all know how that turned out. If we learn from the patterns, we should expect a very sharp drop again soon.”
Kyle Samani is a co-founder and general partner at Multicoin Capital. According to him, the bear market is not over until a lot of exchanges shut down. Earlier this week, the crypto exchange Liqui announced its shutdown in a message to its users.

The exchange purge has started. @Liqui_Exchange is closing.
I believe many more, especially smaller exchanges will follow. The bull market forced them to make large investments in their IT infrastructure, and the bear market dried out the trading volume.
— Jimmy McShill (@JimmyMcShill) January 28, 2019

In the message, McShill said he believes that many more exchanges are set to follow. Dominant cryptocurrencies like Bitcoin and Ethereum have a relatively high market cap. Small market cap coins however, see a huge reduction the daily volume and this is just in the last 2 months.
With trade activity declining across many major crypto markets like Japan, South Korea and the United States, exchanges are bound to have liquidity issues on their hands. ICOs are also in a terrible state and many investors believe that this bear market might just be the end of the crypto winter and the beginning of the nuclear winter.
You can also check out:

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Samsung Galaxy S10 Will Have a Built in Bitcoin and Crypto Wallet
Dmitry Medvedev: We Should Pay More Attention to Cryptocurrencies

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Ethereum Price & Technical Analysis: Ether Still Trying to Find Support

Ethereum Price & Technical Analysis: Ether Still Trying to Find Support
The Ethereum is going slightly up in late January, reaching around $107.3w on Jan 31, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
Overall, however, the crypto is following a downtrend along a steady channel. On H4, after reaching 76% Fibo, which is the round number of $100, the price bounced to the resistance area around $110. While the channel has not been broken out, the downtrend is still here to stay, though. The current resistance is being tested, and the price may well go down to $95 or even $80.86, the low. The MACD is meanwhile converging, pointing out a possible pullback; this would be especially probable if the price broke out the resistance at $110. The target would then lie at the long term resistance, or $125.
On H1, there’s more technical information on Ether. The correctional uptrend supported by the Stochastic is fading out: the indicator entered the overbought territory, while the price tested the resistance area at $110. A black cross formed by the Stochastic may send the crypto lower.
Photo: Roboforex / TradingView
Meanwhile the Ethereum mining compensation went down from ETH20,000 to 15,000 per block, which makes Ether mining less profitable. On the other hand, this is how Ethereum is getting ready for Constantinople hard fork, which should take place on Feb 27. While the mining compensation reduction is a difficulty bomb, which will reduce the numbers even further once the hard fork is ready, the next bomb is only scheduled for next year.
In essence, difficulty bomb lies in increasing the time spent to find every block in the chain. This leads to less Ether mined, and, subsequently, speeds up the network. Sooner or later, Ether mining will not be possible any more.
Ether hard fork should have taken place last year, but was postponed due to a lot of bugs and issues.
Ethereum Price & Technical Analysis: Ether Still Trying to Find Support

7 Attention-Grabbing Cryptocurrency Trends that Will Define Business in 2019

7 Attention-Grabbing Cryptocurrency Trends that Will Define Business in 2019
Cryptocurrencies have become one of the biggest buzzwords of the business universe in the last few years. The blockchain-based technology is constantly on the rise and the entire market is projected to grow to over $2 billion by 2021.
Digital currencies owe much of the popularity to Bitcoin, the first and the most successful project that reached the peak price of almost $20 thousand in late 2017. However, Bitcoin experienced a harsh reality check in 2018, dropping to less than $4 thousand.
In such circumstances, it’s not surprising to hear potential investors asking one simple question: What is going on with the cryptocurrency market? It’s not easy to answer their question, but there are a few signs that can help us predict future trends in this field.
This article will present you the concept of cryptocurrency and show you seven attention-grabbing trends that will define business in 2019. Let’s take a look!
Cryptocurrencies: Definition and Benefits
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
The definition itself reveals some advantages of using digital money, but there are a lot more features to consider here. I will name only the most important benefits that cryptocurrencies bring to traders and investors:

Decentralization: As you probably know already, cryptocurrencies are not subject to any kind of centralized authority such as banks or governments. Blockchain experts at Scholar Advisor say decentralization means that owners control assets 100%, while there is no fear of inflation because developers create a limited amount of coins.
Fraud prevention: Cryptocurrency transactions cannot be changed. They are immutable, which takes fraud prevention to the whole new level.
Availability: Bitcoin transactions take only a few minutes and there is no third-party provider to check and inspect the process. In other words, the transfer is complete almost instantly and your assets are available quickly.
Low transaction costs: Unlike bank and credit card transfers, cryptocurrencies charge you a low flat fee.
Blockchain technology: Experts believe that another important advantage of trading cryptocurrencies is the chance to learn about blockchain technology: “It’s one of the most promising IT concepts that will not only change finance business but many other industries, too.”

Top Trends to Change the Cryptocurrency Market
As a relatively new niche, cryptocurrencies will certainly experience many changes in the years to come. It’s impossible to mention all of them here, but I can point out the most significant trends in 2019. Here they are:
Some projects will fail
The first trend on my list is not so optimistic. Namely, I expect a number of startups to give up their projects. It’s not a new thing in the cryptocurrency universe, but it will occur more frequently. The most recent case is Basis. This crypto stablecoin project that raised around $133 million in April 2018 is terminating operations and is in the process of returning the capital it raised to its investors.
Security tokens
Investors are losing interest in Initial Coin Offering (ICO) campaigns because a lot of projects lack credibility and turn out to be complete failures. The solution comes in the form of the security token, a feature that gives startups and investors much more fundraising security. Security tokens are safer because they guarantee a real stake in the startup, which is not the case with ICO campaigns.
Scalability issues
Scalability is yet another issue cryptocurrencies will be facing this year because it’s one of the main reasons why digital money is not getting as many followers as it should. For instance, Bitcoin supports up to seven transactions per second, while Ethereum can handle twice as many. Needless to say, this is way too slow and developers will have to find a way to boost scalability.
Lightning Network
Speaking of scalability, it seems like Bitcoin-focused off-chain technology called Lightning Network is going to face this issue relatively soon. The system is based on multi-signature wallets and additional payment channels, which should enable faster and cheaper coin transfers. Besides Bitcoin, Lightning Network is aimed at Litecoin as well, so it could give a big boost to this cryptocurrency as well.
State cryptocurrencies
Cryptocurrencies have been around for 10 years and some countries are beginning to realize the potential in this field. Finance analysts at Brill Assignment say that the likes of Singapore, United Arab Emirates, and Russia already started experimenting with state-regulated digital money:
“While it is true that Germany, Japan, and Switzerland don’t want to deal with cryptocurrencies, the fact remains that the number of countries willing to experiment is constantly on the rise.”
Price stabilization
Many cryptocurrencies, especially Bitcoin, have been experiencing major ups and downs price-wise. Last year was already much more stable in that regard, but I expect 2019 to be even flatter. Price volatility should be low and I don’t expect any digital coin to fall or grow by thousands of percentage points.
Cryptocurrency learning
The last prediction on my list is cryptocurrency learning. Namely, most people are still not familiar with the fundamental features, pros, and cons of cryptocurrency trading. This should begin to change now that the market proved to be stable. There are all sorts of learning resources available online, while a number of universities introduce cryptocurrency and blockchain courses.
Cryptocurrencies have become a major talk of the town in the last few years, mostly due to the incredible rise of Bitcoin. However, the whole market is subject to unexpected changes and potential investors find it hard to analyze and understand the state of digital currencies.
In this post, I showed you some cryptocurrency basics and presented seven attention-grabbing trends that would define business in 2019. I hope you enjoyed reading it, but let me know in comments if you need additional explanations – I will be glad to discuss this amazing topic with you!
7 Attention-Grabbing Cryptocurrency Trends that Will Define Business in 2019

Stellar Price Analysis: XLM/USD Trends of January 31–February 06, 2019

Stellar Price Analysis: XLM/USD Trends of January 31–February 06, 2019
Key Highlights:

There was a price retracement on the 4-Hour chart;
Stellar price is consolidating below $0.09 price level;
further price declination is anticipated.

XLM/USD Price Long-term Trend: Bearish
Supply levels: $0.09, $0.10, $0.12
Demand levels: $0.07, $0.06, $0.05XLM/USD still maintains its bearish trend on the long-term outlook. There was a further increase in the bears’ pressure; the previous low of $0.09 was reached (that was the level the coin reached last year December 15). The bearish pressure extended downward and the demand level of $0.09 was penetrated, the bearish candle closed below the level after which the coin started consolidation facing the demand level of $0.07 as at present.
More bearish candles were emerging as a sign of increasing bearish momentum. Stellar price still found ranging below the two EMAs. The Stochastic Oscillator period 14 is below 20 levels (oversold region) and the signal lines horizontally flat at the level confirm the ongoing consolidation movement on the XLM market which may be for a short period of time.
In case the bulls defend the demand level of $0.07 and increase their momentum, there will be a change of trend to the north side and Stellar price may incline towards $0.10 supply level. If not downtrend continues.
XLM/USD Price Medium-term Trend: Bearish
XLM/USD is on its bearish trend on the medium-term outlook. An attempt was made by the bulls to reverse the trend on January 26 but the bears opposed the uptrend movement and a bearish candle pattern called “inside bar” was formed which made the coin to fall, broke the $0.09 price level downside towards $0.07 demand level. On January 29, it carried out price retracement and presently resumes its downtrend movement.
The Stochastic Oscillator period 14 is at 50 levels with its signal lines pointing down connotes sell signal. The 50-day EMA remains above the 21-day EMA with Stellar price trading below the two EMAs as an indication that the bears’ momentum in the XLM market is increasing. Further decrease in the price of XLM is anticipated.
Stellar Price Analysis: XLM/USD Trends of January 31–February 06, 2019

Boosted by Bear Market, Genesis Made Over $1B in Crypto Loans

Boosted by Bear Market, Genesis Made Over $1B in Crypto Loans
It is a widely known fact that the previous year was a rather challenging one for a number of crypto-related companies due to the bear market. Nevertheless, such a market situation has created rather appropriate conditions for the firms that are trying to find alternative ways to make money, for example, for those ones that deal with crypto loans.
According to the information provided by Genesis Global Capital, an institutional crypto loans firm, in 2018 it managed to process over $1.1 billion in lending and borrowing transactions.
What Genesis Global Capital Represents Itself
Genesis Global Capital is affiliated to Genesis Global Trading, the company that was formerly known as SecondMarket and was launched as a crypto trading firm in 2015. A little bit less than a year ago, in March 2018, it opened its above-mentioned crypto lending business.
This business started to gain popularity rather quickly attracting traders who wanted to borrow digital assets with a view to hedge their investments or short a crypto.
The company has revealed that at the current moment it manages a book of over $153 million in active loans. Recently, it has taken a decision to offer its clients an opportunity to take loans in fiat, but in comparison with crypto loans, this offer has stayed practically unnoticed.
The firm also positioned itself as a helper for crypto startups that don’t want to go down being influenced by a bear market.
Michael Moro, the CEO of Genesis Global Capital, explained their vision the following way:
 “It should be possible for people to go long and short Bitcoin. It can’t just be a long-only market. It should be perfectly okay to take the other side, to think that prices are going to fall, and to make that short bet.”
Lending and Borrowing
In its report, Genesis Global Capital has revealed that over the past year it was carefully analyzing its client feedback and the situation with the growing popularity of derivative marketplaces, which showed that the number of market participants wanting to lend or borrow crypto assets was actively increasing.
Genesis reached the billion dollars mark in Bitcoin loans on December 14, 2018, though only less than three months earlier it had announced passing $500 million milestone in loans since their launch in March.
Putting in other words, the last quarter of 2018 brought the firm another $500 million in Bitcoin loans while to get its first half of a million it needed practically a twice longer period.
Though prices of cryptocurrencies, including  Bitcoin, XRP, Ethereum, and other major crypto assets, started falling already at the beginning of the previous year, the last months of 2018, when the price of Bitcoin fell 39%, turned out to be rather busy for Genesis.
The company’s CEO is not very positive about the rates of the market recovery (he believes that it may take years). Moro supposes that they could use this chance to expand their business.
Boosted by Bear Market, Genesis Made Over $1B in Crypto Loans

Issues With the Lottery Industry and How Does GG World Fix Them

Lottery tickets have raked in a grand total of $273 billion in sales back in 2017. This goes to show how massive the industry is. And despite being as immense as it is, it’s in critical need of improvement. There are plenty of issues currently riddling the industry and GG World is on a mission to have them handled. Here’s how.
It’s Getting Old
Legacy lotteries, as they are right now, attract a massive amount of sales. However, they’re also outdated.
A lot of them require players to purchase tickets in actual, brick and mortar kiosks. That’s not what millennials adore. Most of the legacy lotteries are also not user-friendly. This is another red flag for millennials. They like to use their mobile devices, a lot. In fact, they are increasingly reliant on them and they use it for various activities, including to participate in lotteries.
Understanding that it has to have its eyes firmly set on the future, GG World tackles the above issues while still learning from the past.
GG World Lotteries are mobile friendly, online, perfectly responsive and user-friendly. They can be accessed through any device, as long as it’s connected to the internet.
This allows the project to capture a much larger audience.
It’s Definitely Not Personal
Have you ever felt any kind of attachment to the company behind the lottery? Of course not. Chances are that you don’t even know which one is it.
And how can it be otherwise?
It seems that the only thing legacy lotteries actually stand for is money. That’s not how people like to feel.
In order to show appreciation to each and every one of its token holders, GG World Lottery has devised a unique and user-friendly dividend scheme. Token holders are entitled to a lifetime revenue share based on every jackpot ever won. This means that everytime the jackpot is won, all the token holders will be rewarded as well.
It Invokes Uncertainty
The lottery industry, throughout its entirety, doesn’t invoke the security that players are looking for.
There is a defined lack of transparency and mounting concerns that regard the actual randomness of lottery draws and company audits.
A lot of the existing lotteries are using pseudo-random number generators. These are oftentimes audited by authorities which are questionable, to say the least.
GG World Lottery tackles these issues as well.
First, the project is being closely monitored by one of the world-class gaming certification businesses. The Gaming Laboratories International makes sure that the entire project is legitimate and it follows the necessary regulatory requirements.
In addition, this is the very first project which uses a True Random Number Generator on the blockchain. The TRNG itself guarantees the randomness of the draws based on the quantum physics principles for true randomness in the world. The blockchain, on the other hand, guarantees the transparency and immutability.
With more than $5.6 million already raised, the project already has its MVP developed and begins executing its plan directly.
You can read more about the GG World Lottery project and participate in its STO on its official website.
Should you have any questions, don’t hesitate to ask away in the project’s Telegram channel.
What do you think of GG World Lottery? Don’t hesitate to let us know in the comments below!
The post Issues With the Lottery Industry and How Does GG World Fix Them appeared first on Live Bitcoin News.

Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review
To gain more trust and raise reputation, many companies address auditing firms to review their activity. Recently, Gemini, licensed digital asset exchange based in New York, did the same and applied to Deloitte, one of the “Big Four” auditing firms, to conduct a security compliance audit.
As a result, Gemini has successfully completed the SOC 2 Type 1 examination and confirmed its status of a company with a high level of security compliance in protecting customer data and funds.

Gemini Is The World’s First Crypto Exchange and Custodian To Complete SOC 2 Review @Deloitte
— Gemini (@Gemini) January 29, 2019

According to the American Institute of Certified Public Accountants (AICPA), “SOC 2 examinations are specifically designed to address controls at a service organization relevant to the systems at the service organization used to process users’ data”.
As Gemini stated, their mission is to build the future of money, and the SOC 2 review is an important step towards raising the bar for consumer protection, safeguards, and industry best practices. The company said that Deloitte inspected the design of security controls within the exchange to ensure it met the criteria set by the AICPA.
Gemini explained:
“This included a review of Gemini’s exchange application, infrastructure, and underlying customer database, as well as its institutional-grade cryptocurrency storage system that custodies the private keys of Gemini’s online and offline wallets.”
SOC 2 examinations were originally released in 2011 by the American Institute of Certified Public Accountants (AICPA). They were introduced as an extension of the pre-existing SAS 70 audits, checking the way that companies secure their networks, infrastructure, customer data, and finances.
For Gemini, completion of the audit is a significant step that makes the company the world’s first cryptocurrency exchange and custodian with this level of security compliance.
They said:
“We feel strongly that this standard of compliance is what all retail and institutional consumers should expect of their cryptocurrency exchange and custodian. We know what is at stake when you trade and store crypto. That is why, in addition to our SOC 2 Type 1 review, we are also committed to obtaining our SOC 2 Type 2 review in 2019. This additional level of assurance will further validate the effectiveness of our internal controls.”
As the company has promised, a SOC 2 examination will be performed on an annual basis in order to demonstrate their “ongoing commitment to safeguarding your data and cryptocurrency”.
Gemini Highlights
Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Founded in 2014 by Cameron and Tyler Winklevoss, Gemini operates in the United States, Canada, the United Kingdom, South Korea, Hong Kong, and Singapore. The founders of Gemini are well-known for their optimism about Bitcoin ambitions to make Bitcoin ETFs a reality.
The company has its own currency, the Gemini dollar. It is a cryptographic token built on the Ethereum Network according to the ERC20 standard for tokens.
In December 2018, Gemini introduced its mobile app to facilitate crypto trading for users of Android and iOS devices. The gemini app can be used for purchasing and selling cryptocurrencies, tracking market prices, viewing users’ own portfolios value, setting price alerts, and for other activities related to crypto trading.
Among the options offered by the app is also providing people with an opportunity to buy all coins listed on the exchange simultaneously. This Gemini’s basket order feature is called Cryptoverse.
Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review