The development team of Lumi Wallet continues to broaden its ecosystem and isn’t going to slow down. In the latest update, Lumi wallet introduces support for EOS blockchain.
EOS is a promising blockchain protocol, which acquired popularity among the developers and is on par with Ethereum and Tron. After the last update, Lumi wallet can support virtually any token based on this blockchain. Moreover, Lumi’s team is working on EOS DApps integration and already started adding EOS-powered tokens to the wallet.
Another Lumi’s direction of work dedicated to EOS integration is a partnership with EOS block producers, the key players, who manage and directly influence the development of the whole platform. Lumi confirmed the collaboration with Minergate, a popular cryptocurrency mining pool, which actively gains a foothold in the platform, aiming to become a significant EOS block producer. Now the development team works on the implementation of the voting system into the app.
Lumi places its stake on the EOS ecosystem, actively engaging in the community and supporting projects based on the blockchain. In the next update, Lumi would introduce EOS DApps support and open account creation.
“EOS ecosystem still has a relatively high entry threshold, starting from registration, which can frustrate inexperienced users. We want EOS user experience to be as intuitive as possible, making Lumi the easy entry point to all DApps and EOS platforms. That’s why EOS account creation with Lumi would take only two steps, one minute and would be completely free.“
Diana Furman, Lumi Wallet CEO
Lumi Wallet comes in the form of IOS and Android apps, and a web wallet. Currently, the wallet supports BTC, ETH, BCH and the majority of ERC20 tokens. It provides a high security level, is completely anonymous and has an eye-catching design. It steadily increases the number of supported tokens and soon will become open-source.
It is equipped with a one-click exchange, so users can buy and sell coins and tokens available on the platform. The wallet also provides price graphs that allow users to check currency rates for any date and all price-related information.
Lumi Wallet is active on Twitter, Facebook, and Reddit.
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One of the most substantial characteristics of the cryptocurrency market is its volatility. Different digital assets are known to swing violently in a short period, unlike other more traditional assets.
This volatility is seen by some as a negative, but experienced traders know that it can also be very profitable. Trading cryptocurrencies could be very challenging. However, if done correctly, it can also net nice gains. Having said this, below are a few tips that can definitely help step up the game and take advantage of the slightly different nature of the crypto market.
Tip 1: Do Your Homework
This one is perhaps a broader tip which applies to every single investment you make, and cryptocurrencies are no exception. The very first thing you need to do before you decide to put your hard-earned cash into a digital asset is to research it.
Take a look at the documentation which is available for the cryptocurrency. Learn about the project’s goals and correlate them to the current and potential future market conditions. Make sure that it’s viable and that it has room to grow in the short and long term.
Take a look at the team members and make sure they are real people with relevant experience. There are hundreds of projects which turned out to be blatant scams fueled by non-existing social media profiles.
Do your homework – research. It’s the first step to take before you venture into a particular cryptocurrency and put your money on it.
Tip 2: You Can Make Money Even Under Bear Market Conditions
A popular misconception is that you can only make money when the market rises in green. That’s not true. There are different trading mechanisms which allow you to make money when the price drops as well.
For instance, you can short Bitcoin if you think that the price is going to start dropping. There are some margin trading platforms which allow it. This way, you can benefit from negative trends as well.
In fact, leveraging short positions can help you diversify your trading strategy and maximize your profits. That’s the difference between an experienced trader and one who isn’t aware of all his options.
Tip 3: Manage Your Risk
If you want to be a successful crypto trader you need to have the bigger picture in mind. You shouldn’t be looking for the next ‘moon’ but rather take advantage of smaller market moves which will regularly add up and net you a substantial profit.
Make sure to manage your risk wisely throughout your entire portfolio. When it comes to non-liquid markets, you shouldn’t invest more than a smaller percentage of your portfolio because the risk is relatively higher.
Keep your investments in a range that you can afford not based on your overall resources but based on your investment portfolio. Make sure that each trade you do is consistent with this strategy and keep all feelings aside.
Tip 4: FOMO – Keep it in Mind
The fear of missing out (FOMO) is perhaps one of the most commonly used terms within the cryptocurrency community. It describes a situation where a particular cryptocurrency experiences a sudden increase in value and people are usually tempted to buy in in order not to miss out potential gains.
However, in situations like that, it’s not uncommon to be on the losing side of the trade. It is entirely possible for the price to continue pumping but then again, this is a decision that you should make based on robust factors, not on a quick pump and subjective sentiment.
Therefore, it is particularly important to resist FOMO and to make sure that even if you buy in the surge, you are making it because you know what you’re doing rather than just following the herd.
Tip 5: Set Your Ego Aside
This is perhaps a continuation of all of the above. When trading cryptocurrencies, you need to make sure that your ego is set somewhere distantly as it has no room in trading.
Your decisions should be made solely on facts and nothing else. Sure, you’re likely to know the phrase “my gut is telling me to do so,” and in some cases, your “gut” might be right. But if you want to be consistent in your profits, you need to leave this thinking aside.
These are just a few tips that you might want to keep in mind when it comes to trading cryptocurrencies. Of course, there are other essential considerations but if you are just venturing in the field, keep these in mind.
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Coinspeaker Chinese EV Producer BYD Announces Huge Profit, Should Tesla Be Nervous?Chinese electric vehicle maker BYD Co Ltd, backed by U.S. investor Warren Buffett, reported on Sunday a huge 632 percent rise in its first-quarter net profit. It seems to be a quite of a competitor to Tesla who lost over $700 million in last quarter. But can we really compare these two companies?BYD’s rise is most probably driven by strong demand for its new energy vehicles if we consider research made by China’s Association of Automobile Manufacturers. According to the research, Chinese citizens will buy at least 1.6 million electric vehicles this year. But that’s just the beginning of it.According to Bloomberg, there are now 486 EV manufacturers registered in China – more than triple the number from two years ago. While sales of passenger EVs are projected to reach a record 1.6 million units this year, that’s likely not enough to keep all those assembly lines humming, prompting warnings that the ballooning EV market could burst and leave behind only a few survivors.Through 2040, China should top the global leaderboard in EV sales. And BYD Auto is poised to take a large chunk of that market.The Shenzhen-based car and battery maker BYD has a joint venture with Daimler AG in China and already last month they predicted first-quarter profit to rise by up to nearly 800 percent.Profit surged to 749.73 million yuan ($111.4 million), up from just 102.4 million yuan a year ago, when its earnings fell sharply due to cuts to subsidies for electric vehicles.BYD said it expected half-year net profit to rise to 1.45 billion yuan to 1.65 billion yuan, versus 479.1 million yuan in the same period last year.The company sold 117,578 vehicles in the first three months this year, up 5.2 percent from a year earlier. BYD, whose popular models include its Tang-series electric cars, has said it aims to sell 650,000 vehicles in 2019.Is it Possible to Compare Low-Level EV Producer With Tesla?It seems to be a quite of a competitor to Tesla who lost over $700 million in last quarter with continuously having manufacturing issues, falling 13,000 vehicles short of the company’s 63,000 first quarter goal.And not just that. Tesla stock is down about eight percent since Elon Musk‘s April 24 earnings call and has dropped almost 25 percent since the start of the year. In comparison, BYD stock is up over 10 percent on the year.However, some analysts say that it’s not possible to compare those two companies.Strategy Analytics’ Kevin Li said that he thinks BYD is not seriously competing with Tesla. He said:“BYD has a narrow focus on low-level electric vehicles. Taxis and rideshare drivers comprise one-third of the company’s electric vehicle sales. Tesla, on the other hand, produces luxury vehicles in which the cheapest model, the Tesla Model 3, starts at $35,000.”Also, we shouldn’t forget the fact that BYD reached profitability largely due to government subsidies on both the national and local level. Unfortunately, these subsidies are winding down, and the majority will disappear by 2020. The loss of them could cause a blow to the BYD stock considering the company received over $1 billion in subsidies in 2016.Li may have a point especially if we consider that Tesla recently decided to enter the competition with Uber and Lyft by using its strategy for an autonomous ride-hailing fleet.Also, this might be a chance to “buy low” as one portfolio manager proposes. Tesla’s stock may have shed nearly one-third of its value year-to-date, but if you ask Cathie Wood of Ark Invest – it’s just a great buying opportunity.Wood also blames Wall Street analysts for getting her favorite stock so wrong:“The analysts following this stock don’t know how to analyze it…It’s something for everyone and no one can pull it all together.”Finally, after discovering that $TSLA has collected 10 billion miles of driving data, compared to $GOOG’s 15 million miles, well what more is there to say about an AI project?— Cathie Wood (@CathieDWood) April 30, 2019Analysts may be focused on Elon Musk’s company failing to meet production and earnings estimates and also, do not forget that Tesla was in under the SEC investigation as well. Now that it finally came to some closure, and if Ark Invest’s Wood is right, no one is going to be able to catch Tesla’s technology in the end.Chinese EV Producer BYD Announces Huge Profit, Should Tesla Be Nervous?
Coinspeaker Nasdaq Adding Brave New Coin’s Index for XRP to Global Data ServiceNasdaq announced Monday that, through its partnership with New Zealand-based blockchain data and research firm Brave New Coin, it will offer “real-time” index information for XRP starting May 1. BNC’s new XRPLX Liquid Index will allow users to track the price of the XRP token with far greater transparency than before.They wrote:“The XRP Liquid Index (XRPLX) is designed to provide a real-time spot or reference rate for the price of 1 XRP, quoted in USD, and based on the most liquid ends of their markets. The index is calculated using a methodology that has been independently audited against key IOSCO principles.The XRPLX is the latest addition to Brave New Coin’s suite of Liquid Indices Program, which also includes the Bitcoin Liquid Index (BLX) and the Etheruem Liquid Index (ELX). The XRPLX has been calculated back to August 14, 2014.”In their statement Brave New Coin wrote:“The XRPLX sources data from only the most liquid exchanges by volume and order-book depth. Current constituent exchanges for the XRPLX include Bitfinex, Bitstamp, Poloniex and Kraken with Coinbase to be added in the next review.”They’ve also added BNC has developed the XRP Liquid Index (XRPLX) to meet the marketplace requirement for a single, reliable and fair USD price for XRP — based on live real-world trading activity. The index is designed to report a market price at which liquidity could enter or exit an XRP position.“The XRPLX captures a comprehensive, global sample of liquidity on the highest volume and quality exchanges. Ideal for settlements and accurate spot pricing, the XRPLX API includes 30 second Intraday pricing, End-of-Day OHLCV and Time & Volume-Weighted-Averages.”Nasdaq already had partnered with Brave New Coin earlier this year, when it added indices for Bitcoin (BTC) and Ether (ETH) to its global data service. The BLX and ELX will provide users with “real-time” spot or reference rate” in relation to the price of 1 BTC and 1 ETH. The price will be quoted in USD and will be refreshed every thirty seconds.Nasdaq Dipping Its Toes Deep Into the Crypto EcosystemLast month, Nasdaq also started offering two benchmark indices covering the top 200 cryptocurrencies by market capitalization. The first index is named CMC Crypto 200 Index (CMC200), which includes bitcoin, and covers more than 90 percent of the global cryptocurrency market.The second, CMC Crypto 200 ex BTC Index (CMC200EX), tracks the market’s performance without the influence of bitcoin. The world’s largest cryptocurrency, bitcoin currently has just over 50 percent dominance of the total market capitalization.Brave New Coin CEO Fran Strajnar said that the ‘LX’ family of BNC indices has had its methodology independently audited against key IOSCO (International Organisation of Securities Commissions) principles.Nasdaq is also planning to launch Bitcoin futures trading on its exchange platform in the first half of 2019.If it’s to believe VanEck’s director of digital asset strategy, Gabor Gurbacs, Nasdaq will launch “a regulated crypto 2.0 futures-type contract.”According to Gurbacs, Nasdaq “ran a few extra miles working with the CFTC to bring about new standards for custody and surveillance,” which is why they have been taking longer to launch their bitcoin futures offering than their Chicago-based peers.After the CME and CBOE, Nasdaq could become the third major U.S. exchange to launch bitcoin futures trading. This matters for bitcoin investors because the more reputable exchanges are launching digital currency-related financial products, the more institutional investors are likely to invest their funds in bitcoin and other digital currencies in the future.* To learn more about XRP coin, Ripple Labs company and their innovative solutions, please check out our awesome “What is Ripple?” guide.Nasdaq Adding Brave New Coin’s Index for XRP to Global Data Service
Coinspeaker Blockchain is Not Just About the Technology, Says EU Blockchain Observatory OfficialJolanda ter Maten from the EU Blockchain Observatory answered the questions from EAK TV at ANON Blockchain Summit in Vein 2019. She defined her point of view on the main issues concerning the impact of blockchain to businesses and its future possibilities. Here we would like to present the main excerpts from this interview.Blockchain in the NetherlandsJolanda, being a representative from the Netherlands in the EU Commission, explained the present situation around blockchain tech in the country. The Netherlands have Dutch blockchain coalition represented by the public services, academic institutions, and businesses. They cooperate in order to create a reliable and sustainable blockchain system.Speaking about blockchain businesses in the Netherlands, she admitted that they have good perspectives for big businesses:“I think we have a very good climate for blockchain startups, we have some big businesses that are really getting into blockchain like banks: Rabobank. ABN AMRO is also getting into blockchain.I see that the Notary Association in the Netherlands is also involved in blockchain, the Chamber of Commerce, so a lot of really big companies are involved, also academic institutions.”She also mentioned that they have an education program called “Teach the Teacher”, which is aimed to push blockchain adoption in the education sector.Current State of BlockchainAccording to the opinion of Jolanda ter Maten, there is still a lot of opportunities for the improvements. Many initiatives have already been fulfilled (documents certification, logistics). However, there are some challenges in such spheres as insurance, law regulations and lack of people awareness in this field:“I think for mass adoption it’s also important that people understand more about blockchain, what it is and how it could help them with an open mind.”Nevertheless, it was mentioned that some European countries have great success in implementing blockchain regulations, such as Malta and Iceland. Other countries are also working on that but it is not easy because blockchain crosses not just borders.“Blockchain doesn’t stop at the border, it crosses the border and it crosses the jurisdictions. So, having jurisdictions in one country doesn’t mean that you can automatically do business with other countries.”In comparison to China, that considers blockchain more like technology, Europe also pays attention to the added value to business and society.“Blockchain is not just about the technology. Like I say it’s not an IT party, it’s something for the business and society.”EU Blockchain Observatory ForumJolanda ter Maten has noticed that adoption is a key point for the future development of blockchain. The main goal of EU Blockchain Observatory Forum is to inform people what the blockchain is to lessen the fear that they have because of the ignorance.“We try to address to those topics and to do it in a way that is understandable for everybody. I think if people understand what it’s really about and what it really means they don’t need to be scared of it.”In the end, Jolanda expressed positive about the potential of blockchain technologies in dealing with challenges inherent for public services sphere, also including such sectors as logistics, farming, and migration. She also underlined that blockchain, because of the transparency and the fact that you can verify the data, could really improve the world.Blockchain is Not Just About the Technology, Says EU Blockchain Observatory Official
Coinspeaker Ethereum Price Analysis: ETH/USD Ranging Within $159 and $167, Awaiting a BreakoutKey Highlights:The Bears and the Bulls momentum are at equilibrium;Ethereum price may reach $150 level in case $159 levels do not hold;the price may penetrate the $167 price level.ETH/USD Medium-term Trend: BearishSupply Zones: $167, $178, $186, Demand Zones: $159, $150, $140Ethereum remains bearish on the medium-term outlook. The Bearish momentum continues on the 4- hour chart, Ethereum price declined to the low of $150 price level. The Bulls opposed the decrease in price and the strong bullish candle formed which returned the price back to $159 level.Ethereum price consolidated for sixteen hours before the Bulls were able to break up the $150 level. The price then started moving sideways between the supply level of $167 and the demand level of $159.The two EMAs are moving closer to each other without significant direction and ETH price is hovering over the 21 periods EMA and the 50 periods EMA. The Relative Strength Index period 14 is at 50 levels and the signal line bending down to indicate sell signal.Ethereum price may find its support at a previous low of $150 In case the Bears increase their pressure and $159 price level is penetrated. Coin’s price may increase towards $178 price level in case $167 price level is broken up by the Bulls.ETH/USD Short-term Trend: RangingOn the short-term outlook, Ethereum price is on the sideways movement. It dropped to the demand level of $150 with the strong massive bearish candle that emerged on April 25. A Doji candle formed followed by a pin bar.A pin bar is a bullish reversal candle that made it possible for the Bulls to push up the Ethereum price to break up the $159 level and commence consolidation within the range of $167 and $159 price level.Ethereum price is trading over the 21 periods EMA and 50 periods EMA as a sign of consolidation. Nevertheless, the Relative strength index period 14 is at 60 levels with the signal line pointing up to indicate a buy signal.Ethereum Price Analysis: ETH/USD Ranging Within $159 and $167, Awaiting a Breakout
Tron price failed to recover and declined below the $0.0240 support area against the US Dollar.
TRX tested the $0.0225 support level and it is currently consolidating above $0.0230.
There is a significant bearish trend line in place with resistance at $0.0240 on the 4-hours chart (data feed via Bitfinex).
The price could start a sharp upward move if there is a break above $0.0240 and $0.0250.
TRON price extended losses below key supports against the US Dollar and bitcoin. TRX is currently consolidating and it is likely to make the next move either above $0.0250 or towards $0.0200.
Tron Price Analysis
This past week, TRON price faced an increase in selling pressure below $0.0255 against the US Dollar. The TRX/USD pair broke the key $0.0250 support level to move further into a bearish zone. There was a sharp decline below the $0.0240 and $0.0235 support levels. The price even broke the $0.0230 level and settled well below the 55 simple moving average (4-hours). A new monthly low was formed near $0.0224 and the price is currently consolidating losses.
Recently, it traded above the 50% Fibonacci retracement level of the last drop from the $0.0255 high to $0.0224 low. However, the previous support near $0.0244 and $0.0245 acted as a strong resistance. The 61.8% Fibonacci retracement level of the last drop from the $0.0255 high to $0.0224 low also prevented gains. More importantly, there is a significant bearish trend line in place with resistance at $0.0240 on the 4-hours chart. Therefore, if there is an upside break above the $0.0240 resistance and the 55 SMA, there could be a decent upward move.
Having said that, a convincing follow through above $0.0245 and $0.0250 is needed for a trend change in the near term. The next key resistance above $0.0250 is near the $0.0257, above which the price could test $0.0280. On the other, there might be a bearish reaction if there is no upside break above $0.0240. An immediate support is near $0.0225 and $0.0224.
The chart indicates that TRX price is facing a strong resistance near the $0.0240 and $0.0245 levels. If there is a successful daily close above $0.00245 and $0.0250, there might be a strong upward move. If not, there is a risk of a fresh decline below $0.0224. In the mentioned bearish case, the price may perhaps test the $0.0200 support level.
4 hours MACD – The MACD for TRX/USD is currently flat in the bearish zone, with a few positive signs.
4 hours RSI – The RSI for TRX/USD is showing recovery signs, but it is still below the 50 level.
Key Support Levels – $0.0225 and $0.0210.
Key Resistance Levels – $0.0240, $0.0245 and $0.0250.
The post Tron (TRX) Price Facing Significant Resistance: Can It Rally? appeared first on Live Bitcoin News.
Coinspeaker Musk Trolling Ethereum for Real or As a Result of SEC Decision?Elon Musk has finally came to a deal with the Securities and Exchange Commission regarding a dispute over his “bad tweets” about Tesla’s production, and about what he can or cannot share on Twitter. It now looks like Musk will have to clear some of his Tesla-related tweets with a lawyer before he writes them.Just for a reminder, last summer, Musk tweeted that he had secured funding to sell his electric car company at $420 per share. The statement proved to be untrue, ultimately costing Musk personally his chairmanship of the company and $20 million.We’ll see how this is going to go but, until then, SEC didn’t say anything about permission to write about cryptos now did they?We guess Musk had the same thought when he decided to some fun with crypto Twitter yesterday. In just one word, he drew in the entire crypto community to the mass hysteria. Twitter simply said “Ethereum”.jk— Elon Musk (@elonmusk) April 30, 2019And, of course, what happened next is that price started to rise almost immediately. Even though he quickly added tweet: “JK”, at the time of the writing, ETH was still up, although slight 0,04% to $157.85. However, a lot of followers are asking the same question: did “JK” comment came after the SEC resolution?Lol good shit Elon 😂😂 pic.twitter.com/WUe5ETXXqU— Chris Ragotero (@CuteBoyQ) April 30, 2019Twitter went wild, so famous @hodlhodl twitted:One of us! One of us! One of us! pic.twitter.com/nivc75R6Fz— hodlholdonaut (@HodlHold) April 30, 2019And of course, it wouldn’t be complete if the founder of Ethereum himself, Vitalik Buterin didn’t answer as well, inviting Musk to the next conference:Stop giving away free ETH! 🤣🤣— Elon Musk (@elonmusk) April 30, 2019The conference is hosted by the Ethereum Foundation every year, serving as a place where Ethereum team members can speak about new products, approaches, and technologies. In his response Musk is referencing Buterin’s long-time Twitter username – ‘Vitalik Non-giver of Ether’, which itself is a reference to the prevalence of crypto giveaway scams that use Vitalik’s name.That made some followers pretty happy:OMG!!! Vitalik and Elon are talking #ethereum ! https://t.co/XiLptqt7qB— The Crypto Lark (@TheCryptoLark) April 30, 2019The Twitter thread grew longer with each passing minute, as Justin Sun came to shilling Tron and Bittorrent.TRON— Justin Sun (@justinsuntron) April 30, 2019A similar tweet was sent by Gabor Gurbacs, the CEO and Digital Asset Director at VanEck said:We live in a parallel universe. Full stop. https://t.co/1aGo6U9bgk— Gabor Gurbacs (@gaborgurbacs) April 30, 2019This whole thing isn’t actually surprising because Musk was coquetting with cryptos before. At the beginning of April, he called Dogecoin “his favorite cryptocurrency”.His praise for the meme-inspired asset came in response to an April Fool’s Day poll posted the day before by the official Dogecoin account asking who should be the cryptocurrency’s next CEO (an absurd notion on its face, since crypto projects are supposed to be decentralized).Be as it may, Musk won with 54 percent of the vote and after his tweet.Musk and Dorsey Pushing Crypto PricesBefore that Musk praised Bitcoin as well calling it “quite brilliant” and adding:“It bypasses currency controls … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”Earlier this year the Bitcoin and cryptocurrency markets were enlivened by comments from Musk but also the Twitter’s CEO Jack Dorsey.Dorsey said in one of his interviews:“I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be [bitcoin] given all the tests it has been through and the principles behind it, how it was created.”Musk however, said it’s “very energy intensive to create Bitcoin at this point” and it may not be “a good use of Tesla’s resources to get involved in crypto.”The truth is, nowadays the cryptocurrency fanatics are constantly being wary of big movements in the market. Any positive or negative piece of news has a considerable impact on the price of the cryptocurrency almost instantly. This highlights the vulnerability of the markets, currently.Musk Trolling Ethereum for Real or As a Result of SEC Decision?
Coinspeaker Neo Preparing to Launch Its New Next-Gen NEO 3.0 Blockchain NetworkNeo, the crypto company behind the next-generation smart economy platform, is going to launch its new blockchain network NEO 3.0. The development of the new chain is set to be completed by the second quarter of 2020, with the test net rolled out this June.The mass adoption of blockchain tech is imminent. NEO 3.0 will be a large scale commercial application ready implementation with high throughput, enhanced stability, an optimized smart contract system, and a feature-packed infrastructure set. #ROADMAP:https://t.co/i0ic2NKcXh— Erik Zhang (@neoerikzhang) April 29, 2019According to the company’s announcement, NEO 3.0 will be ‘a robust blockchain implementation with high throughput, enhanced stability and security, an optimized smart contract system, and a feature-packed infrastructure set for diverse business application scenarios’.As Neo stated, the new chain will increase Neo’s speed and stability and enable large-scale commercial use.Neo co-founder Erik Zhang commented on the initiative:“When we talk about Neo 3.0 being ready for large-scale commercial use, we mean it provides the possibility to run large-scale applications with blockchain technology. In the future, we’d like to see applications such as YouTube, Alipay, and gaming giants like Tencent and Blizzard run on blockchain, and Neo 3.0 will allow these big organizations to do that.”Before the launch, all data and transaction records will migrate to Neo 3.0, and users will need to swap their existing tokens for new ones. The users of the exchanges will not be affected.NEO 3.0 FeaturesThe development of NEO 3.0 began in the fourth quarter of 2018, and the details were revealed at the NEO DevCon held in February. The company explained that the decision to develop NEO 3.0 was made as a result of incompatibility of some Neo’s architectural improvements with its current blockchain.According to Neo’s announcement, the new network will launch from a genesis block and have a number of features, including Internet resource access, new pricing model, redesigned P2P protocol, simplified architecture, NeoID, and more.Delegated Byzantine Fault Tolerance 2.0 (dBFT 2.0) will provide improved stability of the consensus algorithm due to its recovery mechanism. In the rare occurrence of a network failure or a node failure, a quick recovery is expected.The new pricing model will reduce the deployment and execution costs of smart contracts, increasing the number of DApps. Prior to the NEO 3.0 implementation, credible projects can apply for grants from the NEO Foundation with contract deployment costs.With NEO 3.0 built-in oracle implementation, smart contracts can access Internet resources during execution, which will let users easily develop more sophisticated NEO-oracles and work on more diverse DApps that depend on external data.An improved NeoVM, a lightweight virtual machine for executing smart contracts, will become a pure virtual machine and include such features as support for static members and exception handling.Further, due to NeoFS, a distributed decentralized object storage platform integrated with NEO, NEO 3.0 is expected to maintain network scalability by minimizing computational costs on storage node and validation nodes and guarantee a large number of parallel interactions.Finally, NEO 3.0 will have an improved NeoID, a decentralized identity protocol that provides better control of users’ identities and delivers trust and security to the smart economy. NeoID will not only support a decentralized identifier issuance model but will also be compatible with the X.509 level certificate issuance model.About NeoNEO is an open source project that utilizes blockchain technology and digital identities to digitize assets and automate the management of digital assets using smart contracts. The company’s mission is to create a ‘Smart Economy’. Founded in 2014, Neo released its MainNet was released in October 2016.Neo’s platform and cryptocurrency NEO are designed to build a scalable network of decentralized applications. NEO token generates GAS tokens that can be used to pay for transaction fees generated by applications on the network.At the moment, NEO makes up $9.41 per coin. The currency is ranked eighteenth in the list of cryptos.Neo Preparing to Launch Its New Next-Gen NEO 3.0 Blockchain Network
Coinspeaker ICE’s Crypto Startup Bakkt Acquires Digital Asset Custodian, Join Hands With BNY MellonBakkt, the cryptocurrency startup by NYSE’s parent company Intercontinental Exchange (ICE) is further making new acquisitions to cement its relationship with the regulators. Thus, to gain regulatory approval for its crypto products, Bakkt has acquired the Digital Asset Custody Company (DACC).Launched in August 2018, Bakkt aims to develop a reliable and regulated infrastructure for cryptocurrency investors. Bakkt also announced to bring its Bitcoin Futures in the market and is currently working with the CFTC regulator. However, Bakkt needs a strong custodian to back its physically-settle Bitcoin Futures contracts. Ten days back, Bakkt applied for the NYDFS license to get regulatory approval for being a qualified crypto custodian.On Monday, April 29, Bakkt COO Adam White explained that with the DACC acquisition, the company plans to develop a secure digital asset custodian solution. White wrote that DACC shares Bakkt’s vision of providing utmost importance to developing secure digital storage solutions. White also noted that the DACC acquisition can help Bakkt to add new other cryptocurrencies apart from Bitcoin. He wrote:“As we look to scale and support custody of additional digital assets, DACC’s native support of 13 blockchains and 100+ assets will serve as an important accelerator, and we’re pleased to welcome Matthew Johnson, Adam Healy, and the entire DACC team to Bakkt.”White further added that “The (DACC) team’s experience integrating multiple blockchains and operating cutting-edge consensus mechanisms is a valuable addition to our team and future product line.”Bakkt Partners With U.S. Bank BNY MellonBesides the DACC acquisition, Bakkt has joined hands with U.S. Bank BMY Mellon to geographically distribute the private keys secured by the bank. In the announcement, White wrote:“All cryptographic systems are secured in bank-grade vaults and data centers that are protected with 24/7 physical security. Role-based permissions strictly limit employee access, and systems are routinely tested to ensure a seamless transition to our parallel disaster recovery facilities.Additionally, Bakkt is working closely with BNY Mellon to offer geographically-distributed storage of private keys secured by the bank. BNY Mellon has a longstanding history of safeguarding the assets of institutional clients such as hedge funds, asset managers, and broker-dealers, and we’re excited to work with them”.To appeal the high-net individuals and professional institutional investors, Bakkt has already approached global insurance carriers for safe and secure Bitcoin custody. The insurance for Bitcoin custody will help to set off potential risks involved with crypto storage.White wrote:“The majority of assets are stored offline in air-gapped cold wallets that are insured with a $100,000,000 policy underwritten by leading global insurance carriers.”While Bakkt’s Bitcoin Futures have been delayed several times in the past, one thing is sure that the company is putting up every effort to bring its services to the market as early as possible.ICE’s Crypto Startup Bakkt Acquires Digital Asset Custodian, Join Hands With BNY Mellon