London Stock Exchange Hooks Into the Crypto Industry Powering Hong Kong-based Exchange AAX

London Stock Exchange Hooks Into the Crypto Industry Powering Hong Kong-based Exchange AAX
Today it is quite a common practice for traditional financial institutions to go in for cutting edge technologies with a view to open more opportunities for their existing clients and to attract new ones.
The London Stock Exchange is definitely one of the financial giants that do not deny the progress in the sphere. CoinSpeaker has already reported about the first company in the crypto industry listed on the London Stock Exchange. It was a cryptocurrency mining firm called Argo Blockchain PLC and in August 2018 it made headlines after having raised $32 million in its IPO on the LSE.
But it was only a beginning of the LSE’s crypto journey. Now it’s moving forward.
LSE and Crypto Exchange
According to the recently revealed information, AAX, a new cryptocurrency exchange launched by Hong Kong-based fintech firm ATOM Group, has purchased trading technology from the London Stock Exchange.
The LSE’s Millennium Exchange matching engine was chosen to power AAX and it is the first deal of such a kind for the LSE.
Though the London Stock Exchange has already gained some experience in selling its technologies, previously its buyers were traditional stock exchanges in Singapore and Hong Kong. So, it’s the first such an initiative with a crypto exchange.
Millennium Exchange Matching Engine
CEO of ATOM Group, Peter Lin, explained that in their opinion Millennium Exchange technology will help them to create a reliable platform. Their aim is to make their exchange safe and secure for both retail and institutional investors and the LSE’s system is able to ensure it.
Speaking about their plans and goals, Lin added:
 “Trust is at the heart of ATOM’s philosophy and we are delighted to be working with LSEG Technology to deliver a core part of our new digital asset exchange. AAX will leverage LSEG’s Technology to deliver a world-class exchange that ensures safe, trusted and secure digital asset trading for all. The AAX exchange will allow investors to trade all major digital assets with greater levels of fairness, transparency, and performance.”
Moreover, they also suppose that thanks to this matching engine they will be able to offer their clients a scalable and compliant crypto trading platform that they could rely on.
According to ATOM Group, they are also extremely interested in making their exchange an absolutely secure platform. That’s why they have chosen the U.S.-based cybersecurity firm Kroll to be their partner that will provide the platform with effective security solutions.
Though crypto exchanges can’t be considered to be an absolutely new phenomenon, they still haven’t managed to win full credibility. A lot of people are afraid of losing their funds due to a risk of being hacked and a lack of security.
Nevertheless, with such giants like the London Stock Exchange that are step-by-step entering the crypto world, the situation may soon be completely different.
London Stock Exchange Hooks Into the Crypto Industry Powering Hong Kong-based Exchange AAX

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop
At the very beginning of 2019, peer-to-peer torrent client BitTorrent acquired by Tron, the company behind blockchain-based decentralized protocol, announced the launch its own cryptocurrency, BitTorrent Token (BTT), that would run on the Tron protocol. Later, Justin Sun, CEO of both Tron and BitTorrent, announced via Twitter that the first airdrop will be on the 11th of February this year.

On February 11th, 2019, the BitTorrent Foundation will initiate its first airdrop of BitTorrent $BTT to the TRON $TRX holders. Learn how here 👇
— Justin Sun (@justinsuntron) January 20, 2019

The airdrop program is set to start on February 11, 2019. The airdrop will continue until 2025, with allocations dispersed yearly. The first airdrop is to take place next month. It will see 1.1% of the total BTT token supply airdropped.
Exchanges Announce Support of BTT Airdrop
Some exchanges have already announced support for the BitTorrent (BTT) Airdrop Program. One of the first to do so was Hong Kong-based OKEx.

AIRDROP: We will support the BitTorrent (BTT) airdrop for Tron (TRX) holders and will handle all technical requirements involved.
— OKEx (@OKEx) January 21, 2019

As the announcement states, the exchange will take a snapshot of all OKEx accounts at the block height 6,600,000. OKEx promises that users who deposited their TRX in the OK PiggyBank will also receive the airdrop. For margin traders who have an outstanding balance of TRX, they will also have to repay the BTT to the lender after the airdrop.
Another exchange that announced support for BTT airdrop is Binance, one of the fastest growing and most popular cryptocurrency exchanges in the world.

#Binance Will Support the BitTorrent (BTT) Airdrop Program for TRON (TRX) Holders
— Binance (@binance) January 22, 2019

Binance will be taking a snapshot of all TRX balances at block height 6,600,000 on the Tron blockchain as well. The ratio of distribution is 1 TRX to 0.11 BTT for the first airdrop and on all exchanges. In the announcement, the exchange provided  the following airdrop schedule for TRX holders:

2019/03/11 – 2020/02/11: 990,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
2020/03/11 – 2021/02/11: 1,072,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
2021/03/11 – 2022/02/11: 1,155,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
2022/03/11 – 2023/02/11: 1,237,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
2023/03/11 – 2024/02/11: 1,320,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
2024/03/11 – 2025/02/11: 1,402,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period.

Binance noted that “TRX balances under 100 TRX (including those in trade orders) will not be eligible for the airdrop.”
Among other exchanges that have already announced support for the BitTorrent airdrop program are Huobi and Huobi Wallet, WazirX, Koinex, Coin Tiger,, FCOIN, Bibox, KuCoin, Bithumb,  Coinex, Bitpie Wallet, and Cobo Wallet. This list will be continued.
Tron’s Further Plans
Recently, Tron conducted its long-awaited and widely-promoted developer conference niTron Summit 2019. The main aim of the event was to bring together the most prominent figures in the industry, blockchain developers, crypto enthusiasts and other people interested in the emerging technology and its mass adoption.
At the niTROn Summit in San Francisco, Tron Foundation listed ORACLE among its partners. It also listed Aurora, Steemit, Pantera and some other firms as its partners.
Also we conducted an interview with Tron founder Justin Sun who explained what value the project proposes to its users, unveiled how it stands out from other initiatives and shared Tron’s future plans. Sun believes that this year is big for blockchain and for Tron is particular. According to Sun, Tron will see the growth of trust and popularity. It can truly become “a household name”.
Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

Nasdaq CEO: Crypto Could Still Be ‘Global Currency of Future’

Nasdaq CEO: Crypto Could Still Be ‘Global Currency of Future’
One of the most positive trends with regards to cryptocurrency recently is the fact that more high-profile individuals in the finance world seem to have no problem acknowledging that there is massive potential in the sector. That trend appears to be strengthening, as none other than the CEO of NASDAQ has now openly praised cryptocurrency.
Adena Friedman says that cryptocurrency “deserves an opportunity to find a sustainable future in our economy,” in her post on LinkedIn.
Writing ahead of her appearance at the World Economic Forum at Davos this week, Friedman stated that Nasdaq believes crypto will have a role in the future, characterizing “the invention itself [as] a tremendous demonstration of genius and creativity.”
Thus far, she added, crypto has evolved through what she terms a classic invention lifecycle from its early path forged by pioneers in cryptography and economics, to a period of hype, the proliferation of new market entrants, and now, most recently, “a dose of reality.” Crypto thus stands at a crossroads, she says, poised between one of two outcomes:
“1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).”
For many, that dose of reality is a real hard hitter. Over $400 billion has been wiped off the market capitalization of cryptocurrencies. Bitcoin’s price has fallen from highs of $19,000 to lows of $3,200. Early investors may still be in profit, for those who joined the market on its way up, they are sure feeling the downside.

I’m at #WEF2019 and looking forward to the many discussions this week. This year I’ve taken some time to write about my thoughts on the market developments I’m watching in 2019 #Davos2019 @wef
— Adena Friedman (@adenatfriedman) January 20, 2019

Friedman also said:
“It is difficult to ignore the huge amount that investors, including some of the most sophisticated global investors, have poured into digital currencies in recent years.”
She also highlighted that such a genius invention “deserves an opportunity to find a sustainable future in our economy.” That, she claims, will depend on governance and regulatory clarity both “antithetical” to a “decentralized, ungovernable” currency.

I’m so proud of our team in Stockholm as we continue to evaluate and build new and innovative technologies for our clients #rewritetomorrow
— Adena Friedman (@adenatfriedman) December 10, 2018

Adena Friedman noted that last year they were fortunate to have some great technology innovators, including Dropbox, DocuSign, Greensky, iQIYI , Stone, and Pinduoduo tap the public markets. In 2019, several of the biggest and most influential private tech companies founded in the last 20 years, all veterans of the CNBC Disruptor 50 list, were widely anticipated to go public.
These include consumer platforms for transportation as well as large-scale enterprise software companies, which combined, the top four could reach a market capitalization north of $200 billion.
As the large cap IPOs successfully come to market, it could spark a wave of additional venture-capital-backed startups moving toward the public markets. These companies have received several more rounds of capital than was typical in previous tech booms, with some venture-backed companies receiving funding through Series F, or six rounds of capital-raising.
She wrote:
“Therefore, by going public, their venture owners and early employees will have the opportunity to seek liquidity for their shares after experiencing many years of growth in their value. And as a leading global equity exchange, we are very excited to play our part in giving millions of new investors the opportunity to share in the future growth of these seminal companies by becoming their new owners.”
She mentioned that at Nasdaq they have enhanced their market surveillance technology by developing machine learning capabilities to analyze abnormal market events, turning it into an industry benchmark for real-time and T+1 solutions for market surveillance, supervision and compliance.
She added:
“More than 50 marketplaces and regulators around the world now use our technology. We are now turning our machine learning efforts to our broker-dealer surveillance solution, serving our 140+ banks and brokers with similar AI capabilities.
My view is that AI, if properly governed, will ultimately allow all industries to leverage the best of humans and machines together to create better, safer, and smarter solutions for our customers. In 2019, progress in this technological area will be steady, but with some breakthroughs that could change everything for years ahead. What will be the next big leap in this area of innovation: Quantum powered AI.”
Nasdaq CEO: Crypto Could Still Be ‘Global Currency of Future’

XRP Price Analysis: XRP/USD Trends of January 23–29, 2019

XRP Price Analysis: XRP/USD Trends of January 23–29, 2019
Key Highlights:

Another ranging movement on the XRP market;
the bears still hold control of the market;
traders should exercise patient before placing a trade.

XRP/USD Price Long-term Trend: Ranging
Supply levels: $0.33, $0.38, $0.42
Demand levels: $0.28, $0.25, $0.22On the long-term outlook, XRP/USD resumes another range-bound movement. Another sideways movement commenced shortly after the coin broke out of the sideways movement that took place on December 27 till January 10 by the big bearish candle that broke down the former demand level of $0.33. The XRP price started consolidating below the $0.33 price level. The XRP price will remain on this state of consolidation until there is a breakout on either side of the range level.
The $0.28 demand level is already been exposed. XRP price is trading below the 21-day EMA and 50-day EMA and the two EMAs are fanned apart which indicate the bearish pressure in the XRP market. Should the bears defend the supply level of $0.33 the coin may fall to the $0.25 price level. In case the XRP price decline to the previous low of $0.28 and the price bounces then the traders should look for an opportunity to place a long position and take their profit at $0.38 price level.
The Relative Strength Index period 14 is at 40 levels flat horizontally at the level implies that the consolidation movement may continue for a short period of time.
XRP/USD Price Medium-term Trend: Bearish
XRP/USD is on the bearish trend on the medium-term outlook. The cryptos maintain its bearish trend last week. The bulls made attempts to break up the supply level of $0.33 on January 19 but were resisted and the coin resumed its bearish trend. Currently, the XRP price is below the 21-day EMA and the 50-day EMA is above the two.
The Relative Strength Index period 14 is at 50 levels horizontally flat at the level without showing direction indicates that ranging movement is ongoing and may take few hours before the breakout.
*To learn more about XRP coin, Ripple company and their innovative solutions, please check out our awesome guide.
XRP Price Analysis: XRP/USD Trends of January 23–29, 2019

ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy

ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy
As a part of the five-year agreement, ING Bank is set to acquire an unlimited number of licenses for R3’s Corda Enterprise platform. The banking giant plans to implement Corda’s decentralized applications (CorDapps) across its global business infrastructure.
CorDapps is a set of blockchain-based pieces of technology that can be used in trade finance, identity, insurance and capital markets.
Annerie Vreugdenhil, Head of Innovation for wholesale banking at ING said:
“Our longstanding joint journey with R3 has proven that this is the most mature enterprise (distributed ledger technology) solution to serve the needs of the financial service industry. Strengthening our partnership, by signing this licencing agreement, marks a huge milestone towards empowering clients to transition to a distributed economy.”
David E. Rutter, CEO of R3, added:
“ING has been an enthusiastic adopter of blockchain technology and a valued long-term partner to R3. For example, in trade finance, it was involved in the first live trade on Project Voltron. It was also one of the participants in the first live securities lending transaction on blockchain through HQLAx. As ING takes full advantage of access to Corda Enterprise, we look forward to seeing how the diverse.”
The Dutch bank is also involved with commodity trade finance platform komgo. It was one of three original banks in its predecessor Easy Trade Connect. The komgo platform is based on the Quorum blockchain, the JP Morgan version of Ethereum. An ING representative currently chairs komgo, which like Voltron specializes in Letters of Credit.
In terms of technology, it’s also participating in a Hyperledger Fabric project. Last week it was announced as a founding member of a platform targeting the mining industry called Minehub. This is a similar strategy to its involvement in the VAKT post-trade blockchain for energy. It enables the bank to have input into shaping the direction and integration for trade finance.
The operation was about shipping soybeans from Argentina to Malaysia. HSBC was also involved; the German bank had to send a letter of credit to ING. Back then, the HSBC letter stated that the transaction conducted by R3 had cut short a regular financial operation that usually requires around five or even ten days to complete. With R3 and its blockchain, everything was done within just one day.
ING Goes for Blockchain
Rutter also confirmed the fact of the long-lasting collaboration between the firms and mentioned that ING was one of the first banks to make a live trade on Project Voltron.
The bank was also among the first companies that conducted lending on securities on an open ledger via HQLAx. Rutter also mentioned that R3 is giving the ING bank the green light for an unlimited number of CorDapps to see how this ecosystem can make things for the bank’s business more efficient and profitable.
We already wrote of how R3 has received support from five additional banks that joined the company’s project on developing blockchain solutions for the finance industry. ING, BNP Paribas, the Canadian Imperial Bank of Commerce, MacQuarie and Wells Fargo have signed up to the initiative, thus increasing the total number of supporters to 30 banks.
Launched in September, the project already brought in such industry players as Bank of America, Morgan Stanley, Citi, Barclays, UBS, Deutsche Bank, HSBC, J.P. Morgan, Royal Bank of Scotland and others. The participants will combine their expertise to create blockchain solutions that will meet reliability and security requirements.
ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy

Sirin Labs Founder Reportedly Scammed in a Bitcoin-Grin Scheme

The founder and co-CEO of Sirin Labs – one of the popular ICO projects of 2018, has reportedly been scammed out of a ‘significant’ amount of Bitcoin while attempting to purchase Grin in bulk. 
Moshe Hogeg Victim to a Bitcoin Scam
The popular Israeli blockchain entrepreneur Moshesh Hogeg has been scammed out of ‘significant’ amount of Bitcoin, local Israeli media reports.
Hogeg has posted on Facebook in a local Bitcoin community, describing the unfortunate circumstances he’s been through.
He says that he attempted to purchase a large amount of Grin through a trusted over-the-counter service, using Bitcoin for the purchase.
He has reportedly connected with a reliable seller through Telegram. What is more, the seller has been recommended to him by a third-party ‘trustee’. Before sending the Bitcoin, Hogeg has requested for a certain amount of Grin to be sent to him as proof that the seller actually owns the coin.
After the confirmation transaction had been carried out and Hogeg received the Grin as proof of ownership, he supposedly sent the necessary amount of Bitcoin.
At this time, both the seller and the trustee disappeared and never resurfaced. Hogeg says that he is already consulting his lawyer over his next steps. While the amount of Bitcoin lost remains undisclosed, it is supposedly ‘significant’.
Hogeg is the co-CEO and founder of a popular blockchain project Sirin Labs. It managed to raise $150 million during its ICO for the development of a smartphone based on the blockchain.
The project got a lot of publicity, especially after signing Lionel Messi to endorse it. Just a few days ago, Sirin Labs opened the first shop selling its blockchain-based smartphone – Finney.
What do you think of Moshe Hogeg falling victim to this scam? Don’t hesitate to let us know in the comments below!
Images courtesy of The Times of Israel
The post Sirin Labs Founder Reportedly Scammed in a Bitcoin-Grin Scheme appeared first on Live Bitcoin News.

Bitcoin Has All the Chances to Become the New ‘Digital’ Gold, and Here’s Why

Bitcoin Has All the Chances to Become the New ‘Digital’ Gold, and Here’s Why
Despite the bear trend the influence of which was extremely noticeable in 2018, according to the official data the volume of Bitcoin payments processed on the public blockchain network the previous year amounted to over $3.2 trillion.
Such an incredible sum can be considered to be a proof of the efficiency of the asset as one of the most popular and highly-demanded international payment means. Given this fact it can be viewed as an alternative to traditional settlement systems for cross-border payments.
Bitcoin and Gold
Bearing in mind the nature of Bitcoin, its apartness of the wider financial market and lack of correlation with traditional investment tools, it is quite obvious that Bitcoin is quite often compared to gold.  These both types of assets can be effectively used as a medium of exchange and a store of value.
Nevertheless, the history of Bitcoin and its journey to mass adoption started much later than the history of gold. Thanks to its ability to be applied to a cross-border payment system, Bitcoin represents itself an upgraded version of gold.
Bitcoin transactions are much faster and more convenient than traditional financial services or gold operations. Bitcoin transactions do not require the involvement of any third party or regulators, as a result, turning to crypto assets you have an opportunity to avoid time-consuming and boring paperwork and other related activities.
The world’s major crypto exchange Binance managed to send  $600 million charging a fee of $7  in November 2018. The transaction speed was higher than 107,000 Bitcoin per hour.
The Bitcoin network makes it possible to quickly process large transactions and to work with cross-border transactions. Thanks to its efficiency in these two types of operations, the network managed to reach a volume of $3.2 trillion in 2018, gaining 2.91 percent since the previous year.
Moreover, it’s worth mentioning that the announced volume doesn’t include the over-the-counter trading volume which is even larger than the volume of transactions conducted on the exchanges.
Bitcoin to Become New Gold Standard?
Though some experts do not take Bitcoin seriously,  the experts of an asset management firm Lucid Investment Strategies are rather positive about the future of Bitcoin.
They believe that one day it will be traded for $10 million. Moreover, they think that it can become the new gold standard putting end to the debt crisis.
The company believes that quite soon Bitcoin will break out of its slump which will be the first step towards its $10 million level. The next factor to help Bitcoin grow is the destruction of all altcoins, as a result, it will become obvious that Bitcoin is the standard.
Lucid experts also say that after reaching the $100,000 mark Bitcoin will start to compete with gold to become the world’s premier economic option and it will have good chances especially if investors start selling gold for the major crypto.
Bitcoin Has All the Chances to Become the New ‘Digital’ Gold, and Here’s Why

Financial Injection by China: $83 Billion to Counter Economic Decline

It’s no secret to anyone that despite the record growth in GDP, China is facing some issues.  The last few years have been quite challenging and on January 16th, the People’s Bank of China made a big move. The bank gave a huge 560 billion yuan (around $83 billion) financial injection to open market operations via reverse repo operations.
As usual, the bank’s official statement was short and direct:
“The present moment can be viewed as the peak of the tax period. This means that the banking system’s overall liquidity is falling in alarming rates.”
Despite most Chinese predictions, the financial injection did not have the desired impact. Chinese stock prices continued to decline in price. It almost felt if the financial injection did not happen at all.
This financial injection is not a unique event
While it’s not unusual for the injection to happen around this time of the year, this one is surprising because not only of its size, but also because it comes after an announce large cut in banks’ reserve ratios. This reduction is expected to free up up to a total of $116 billion for new bank lending.
There are already instructions from government officials to financial institutions to keep up the support for struggling firms.
Trinh Nguyen, a Natixis economist told Reuters that:
“There is no debate on the matter – the economy needs some help.”
China’s Premier Li Kequiang also stated on January 16th that the country must make preparations for 2019. Accoring to Kequiang, the next year will have many economic difficulties as the financial sector is bound to face an increasing amount of pressure.
The South China Morning Post also states that eight out of twelve provinces in China have reported growth targets for 2019 have new updated information which points downwards.
China is by no means the only country with a rough start to the year. Germany’s financial sector is the fourth largest in the world and it has also been experiencing a steady decline for the last year. This decline comes after 9 years of consecutive growth.
Shrinking car sales, less exports to China and Deutsche Bank being accused of corruption and money laundering are all factors which have contributed to the decline. January 2nd, saw the European Central Bank (ECB), taking control over Italy’s Carige bank. Regarding the issue, ECB satates that the newly appointed temporary administrators are tasked with safeguarding the stability of the bank by closely monitoring the situation.
The United States is not out of the picture as J.P. Morgan Chase faces the risk of a potential class-action lawsuit due to manipulation of precious metals markets. To make things even worse, the NY fed has recently updated its recession risk model and the new version does not look pretty. The number is now pointing towards 21.4% from 15.8% in November and 14.1% in October. There is no doubt that this year will be very important for the global economy.
Read more:

The Huobi Crypto Derivatives Market reached $21 billion in volume
Ethereum Developers will delay the next Ethereum hard fork – Constantinople
Derivatives Market: Huobi DM Surpasses $21 billion in Trades
Twitch Streamer Received a 20 BTC Donation in Just One Stream

The post Financial Injection by China: $83 Billion to Counter Economic Decline appeared first on CoinStaker | Bitcoin News.

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program
Ripple has worked relentlessly with an aim of spreading its reach globally. As we reported earlier, the company signed up an additional 13 companies crossing over 200 partnerships across 40 different countries.
A Chinese media reported that Ripple has committed to a joint venture with China’s Tsinghua University. The Institute for Fintech Research, Tsinghua University (THUIFR) is partnering with Ripple to sensitize the Chinese young leaders about blockchain’s international regulations.
The partnership aims to launch a scholarship program dubbed the Blockchain Technology Research Scholarship Program (BRSP). Also, this program will enable the Chinese graduate students to understand many basic aspects of Blockchain technology. According to THUIFR’s official Twitter handle, they have already hosted various seminars.
Tsinghua University initiated the THUIFR joint venture in 2017. It is a famous and leading Chinese research institute. The Institute for Interdisciplinary Information Sciences, PBC School of Finance, School of Software and Law School created it.
The Comments
According to a ‘crowdfundinsider’ report, Ivy Gao said that the program will demystify everything around international regulations on the blockchain. She further said:
“Most importantly, I believe, this program will greatly help with their future research or career in the field of blockchain technology.”
In the same context Ripple’s SVP of Global Operations, Eric van Miltenburg, stated:
“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative. We’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
In the past year, Ripple has enhanced its benchmark in the blockchain and payment system fields. The way Ripple is committed to streamlining the international remittance services has impressed many mainstream global financial and fintech players. Additionally, Ripple’s token, XRP, is gradually gaining mainstream attention and adoption. Currently, the token is second in the coin market capitalization list with an average value of $13,001,314,591.
Ripple also announced that they have a few major banks going live with their xRapid blockchain solution. Several days after that announcement, at least five financial institutions have confirmed their plans to go live with xRapid. An example is the Catalyst Corporate, one of the Texas credit financing firms. The firm is implementing Ripple’s underlying technology for most of its international transactions to Mexico.
The partnership with the Chinese University shows that Ripple is gradually expanding into countries with strict cryptocurrencies rules and regulations. That is a breakthrough according to some members in the Ripple and general cryptocurrency communities.
XRP Gets More Decentralized
Unlike other cryptocurrencies like Bitcoin and Ethereum that thrive on proof-of-work (PoW), XRP uses the Consensus Protocol or Distributed Agreement Protocol. The token solves double spending challenges more efficiently than the PoW currencies. It involves a distributed agreement protocol that depends on validators to cluster transactions into ordered units that agree on one such order.
The validators are spread worldwide but are not rewarded for grouping transactions into ordered units like in Bitcoin’s miners. Also, any XRP ledger changes need at least 80% of all the validators on the whole network to support it. The voting process for its support needs two weeks before it goes into effect.
The two-week period offers an incentive for all affected users to upgrade the relevant software to accommodate the change. If not more than 80% of the users support the change, it never goes into effect. Also, if more than 20% of the nodes disagree with the rest, the network stops and reconfigures a new list. Thus, XRP transaction security is highly advanced and effective.
The Face Off
The upcoming Blockchain Economic Forum hoped for a Ripple CEO Brad Garlinghouse and Swift CEO Gottfried Leibbrandt face off. In that light, the Swift CEO announced that he will not attend. But, Marjan Delatinne, Ripple’s global head of banking and Wim Raymaekers, Swift’s global head of banking market will face off instead.
*To learn more about XRP coin, Ripple company and their innovative solutions, please check out our awesome guide.
Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users
TRON is one of the largest blockchain-based operating systems in the world. Being less than two years old, the project has already managed to make plenty of headlines (take their recent acquisition of BitTorrent and creation of BTT token, for instance). Moreover, its native cryptocurrency TRX entered the list of world’s top 10 coins by market cap in 2018.
Coinspeaker reached TRON’s founder Justin Sun to find out how the system works, what makes it different from competing projects and what are TRON’s plans for the future.
Coinspeaker: “There’re people who yet don’t know what is your business about. Could you tell a few words about your business and what is the final aim you’re working with.”
Justin Sun: “Our goal is to decentralize the internet. That means we want to return to the vision of the original internet, which is to give everyone the power to share information freely. Right now, that power is mostly in the hands of large companies like Facebook, Amazon and Google.”
Coinspeaker: “How did you come up with the idea of TRON Network? How quickly the team managed to translate those ideas into reality?”
Justin Sun: “I’ve been interested in crypto and blockchain since 2012. I initially invested in Bitcoin, and then worked in the industry before realizing I would need to take the initiative to realize my goals by creating an independent company. We are less than two years old, but already have made big stride by buying BitTorrent and recently introducing BitTorrent Token.”
Coinspeaker: “Please tell us a few words about your team. Who are those professionals driving the innovation?”
Justin Sun: “We have a great team of people in both the US and China (with other offices around the world). Right now, the TRON people are working on improving our blockchain protocol, while the BitTorrent people are working on integrating blockchain into the BitTorrent peer-to-peer protocol. The goal for both teams is to encourage developers and content owners to create innovation in the blockchain world.”
Coinspeaker: “Now let’s move to TRON itself and speak about it in more detail. Do we get it right that Ethereum and EOS are the closest TRON’s competitors?”
Justin Sun: “In the near term, yes. Both companies are looking for a decentralized app ecosystem. If we’re successful longer term, the competition will be Facebook, Google, Amazon and others.”
Coinspeaker: “What are the conceptual differences between TRON and Ethereum? Why developers should choose TRON?”
Justin Sun: “We use DPoS, which means delegated proof of stake. DPoS is a consensus mechanism where 27 super representatives produce the blocks who are in-turn voted for by TRX account holders. We can settle everything within our community by voting on a proposal. It’s a lot more efficient.
It’s not like Ethereum where the miners fight against the developers. We also have much-better throughput than Ethereum and Bitcoin, and no costs for executing transactions on smart contracts.”
Coinspeaker: “And what about EOS? Are there any fundamental differences and why developers should go to TRON?”
Justin Sun: “EOS cost a lot more money to developers. It’s easy to port applications from Ethereum to TRON (that’s why we followed Ethereum’s development path), but not so for EOS. For app developers who don’t have a lot of money, they have to decide whether they should stake their future on the EOS platform.”
Coinspeaker: “What value do you propose for ordinary people? How they could benefit in the future?”
Justin Sun: “Right now, people don’t realize how much they’ve lost their privacy. Facebook owns the information you share there. Amazon and Google know where you, what you’re doing and what you buy. A decentralized ecosystem returns power back into the hands of users.”
Coinspeaker: “What main objective TRON sets for 2019?”
Justin Sun: “For 2019, the goal is simple: Build trust in crypto and blockchain by executing on our vision.”
Coinspeaker: “TRON’s acquisition of Bittorent made headlines in 2018. Do you plan to utilize TRX directly in the project or you expect BTT to fill all the service’ needs?”
Justin Sun: “We think BTT works with BitTorrent. To use TRX would dilute the value of the currency for current holders, among one of several reasons why we chose the BTT route.”
Coinspeaker: “Could you name several KIlleer DAPPs on TRON?”
Justin Sun: “Well, BitTorrent itself is a killer app. It already was the largest decentralized application out there, with more than 100 million monthly users. And we’re adding great games fast, with five of the top 10 grossing games recently on the TRON network. Try TRON Goo. It’s great fun.”
Coinspeaker: “Now we’d like to ask several kind of personal questions. What do you think of Bakkt? How, in your opinion, its upcoming launch can affect the whole industry?”
Justin Sun: “I won’t comment specifically on Bakkt. We’ll have to see how they execute. But overall, the industry needs as many mechanisms as possible to build trust for people who seen so much volatility in the past year.”
Coinspeaker: “What do you feel about STOs? Have they any chance to revive ICO market? Does ICO market need that revival at all?”
Justin Sun: “The industry is feeling its way, trying to find solutions that work for everyone. What the average investor is really starting to ask for is a solid business plan and execution. The mechanism for raising money won’t matter as much as accomplishing those two things.”
Coinspeaker: “Thank you so much for your time and answers. Anything else you’d like to add for our readers?”
Justin Sun: “I believe 2019 will be a big year for blockchain. People are already starting to see clear winners and losers. When the poor performers drop out is when we’ll see a return of trust and true growth across the ecosystem.
For TRON, we’ve got some big plans ahead in addition to the things we’ve already announced. If people like what they see as we roll out these things, I believe TRON can truly become a household name.”
Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users