Due to the exponential growth and success of ABCC in delivering as promised, the fast-growing cryptocurrency exchange platform, ranking Top 20 on CoinMarketCap, has announced the launch of yet another feature that is predicted to disrupt the inefficient and outdated services in the crypto-industry. The ABCC Cloud is a significant leap forward in the crypto-currency and digital asset space.
What exactly is ABCC Cloud
It is a SaaS solution and a comprehensive suite of infrastructure to empower strategic partners and reach mutual benefits, including services of data, security, operating system, OTC trading, and finance.
ABCC aims a long-term development in the blockchain technology and crypto ecosystem, therefore, contribute to ecosystem and empower partners to build their own digital asset exchanges within a day.
Why ABCC Cloud
By using ABCC SaaS solution, partners can focus on business development and save manpower and resources on developing a platform from scratch. There are five core products and services – diversified enough for partners to choose based on individual needs. High liquidity and low-security risk are the fundamentals of the ABCC exchange platform.
Calvin Cheng, CEO and Co-founder:
“ABCC believes that the only way for the cryptocurrency industry to grow is through broad adoption. Cryptocurrency exchanges at the moment only offer a fraction of the liquidity of capital markets, but through ABCC cloud, we hope to increase the depth and breadth of liquidity by sharing our operating systems and technology with global partners. We cannot be in every market ourselves and strong local partnerships are needed.”
ABCC Cloud Offers Partners Six Primary Advantages
ABCC Cloud is currently rendering its services to over 28 countries/areas around the world. This includes all-round support and other operational services to help partners improve their business.
Highly Efficient Service
Standardized scheme and professional services from specialized product managers are set to help save their partners from tedious self-serviced processes.
Automated development of multiple functions with flexible configurations. The ABCC also supports diversified business types; this includes OTC trading, crypto trading, and platform token customization.
Top-level Security & Risk Control
Risk control adapted from investment banks and Internet financial companies, and matured and evolved on digital asset exchange, ensures the security and reliability of the exchange.
Synchronized with ABCC Ecosystem. Share ABCC order book. Matching orders shared between partner exchanges and ABCC secure the liquidity to empower partners to grow business quickly.
The ABCC Cloud easily connects with iOS, Android, and desktop. It also supports customized brands, shows perfectly on different interfaces, is available in multiple languages, and multi-currencies.
With the above-listed features and advantages, the ABCC cloud proves not only modern but also a highly secure and fully scalable crypto and digital asset exchange platform designed to help partners build their own exchanges rapidly.
Designed for fast mainstream adoption around the world ABCC Cloud is currently looking for partners, registration is ongoing at www.cloud.abcc.com/#/
ABCC Cloud will allow partners to improve efficiency, time savings, error reduction, and straight-through processing with no hassle.
ABCC App Update
Launched in Aug, the ABCC APP has quickly gained popularity among users around the world. This week, APP has once hit No.6 on Google Play in Germany as the latest release v1.2 hit the net. The overall rating is 4.9/5 from over 1300 reviews.
Additionally, ABCC is proud to announce that the free upgraded trading version of the much-awaited ABCC Pro will be released mid-October, 2018. It will be able to process transactions in an incredibly fast and streamlined way; it will also have convenient trading functions, more trading indications, etc.
ABCC has an impressive global presence and is continuing to expand rapidly, to register as a partner on the ABCC Cloud go to https://cloud.abcc.com/#/
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A wealth-management firm is encouraging crypto holders in South Africa to ensure that their digital wealth is protected when they pass on.
A volatile socio-economic climate is a big incentive for people to pay even closer attention to their money. This seems to be especially true in South Africa. The country is in a technical recession, there’s the land expropriation without compensation issue and more political strife with ongoing state capture investigations.
It’s no wonder then that citizens are so interested in cryptocurrencies. However, as more and more of the rainbow nation fill their digital wallets, the lack of regulations in the country means that the onus is on them when it comes to protecting their wealth.
Investors in South Africa Need to do Their Research
According to BusinessTech, Stonehage Fleming believes that a part of this is ensuring that your crypto is correctly allocated to your beneficiaries or heirs in the event of your death. The international wealth management firm is calling for more investor responsibility when it comes to looking after your crypto.
Eran Brill, who is a director in the Investment Management division at the firm’s South African branch, said:
As a young industry, with no steadfast rules or regulation, it is crucial for investors to become more responsible in their attitude towards cryptocurrency investing.
Brill added that understanding this type of wealth protection is essential:
The crypto market has experienced rapid, colossal growth. Although the initial hype may have eased slightly, there are many wealthy families who have not fully grasped that cryptocurrencies form part of their estate or how complicated it can be for beneficiaries to access this wealth in the event of death. Ongoing support and guidance from a trusted relationship manager is imperative to ensure that any wealth derived from alternative currencies stays alive after one’s demise.
Roping in a Professional
Bequeathing your crypto involves hardware wallets, private keys, seed phrases and so much more. Investors may not be aware of this when planning their estate. Then you have the tax implications associated with virtual currencies. This is why it is so important to discuss what your duties are when it comes to looking after your digital wealth for your heirs. Brill explained:
Within our standard investment framework, the range of outcomes within cryptocurrencies is too wide and binary in nature for us to consider including a position in portfolios, even if the potential pay-off may be very significant. That said, as a responsible custodian of our clients’ estates, it is our fiduciary duty to manage all aspects of our client families’ wealth. Using all our practical experience, in combination with our technical and legal expertise, we help to establish a clear governance strategy wherever possible.
Investors who do not consider the intricacies of cryptocurrencies and the consequence of keeping crypto investing secret in life, should be prepared to wave goodbye to any wealth derived from such investments at death.
This is obviously a scary thought for parents or caregivers. Just as with traditional fiat, you’ve worked hard for the crypto wealth that you have accumulated. You’ve taken risks, anxiously experienced the highs and lows of the market and perhaps even invested in your fair share of ICOs. It would be devastating to lose it due to a lack of research as to how to properly protect it.
This is, of course, not just reserved for South African investors. Anyone who trades in crypto, and even holders, need to ensure that their funds will go to the right person when the time comes.
Have you made sure that your crypto holdings are protected? Let us know in the comments below!
Images courtesy of Pixabay and Shutterstock.
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Formation of head and shoulder pattern on 4-Hour chart;
there is a possibility of further increase in price;
traders should be patient and watch out for the price direction
XLM/USD Long-term Trend: Bullish
Supply levels: $0.24, $0.30, $0.35
Demand levels: $0.21, $0.18, $0.17The coin successfully broke out of the ranging channel to the north as speculated last week, after several days of ranging and trading within the supply level of $0.21 of the upper range and the demand level of $0.18 of the lower range. The Bulls increased their momentum by the formation of bullish engulfing candle followed with the massive strong bullish candles.
The cryptocurrency was pushed up to break both supply levels of $0.21 and $0.24 last week. The price reached the upper supply level of $0.30 before it was pushed back by the bears to retest the demand level of $0.24.
The MACD indicator is above zero level with its signal lines pointing to the north which suggest buying signal. The first candle formed on the daily chart is bullish at the retesting demand level of $0.24 indicating a continuation of the uptrend movement. In case the bulls lose the momentum the price would be reduced to the demand level of $0.21.
XLM/USD Price Medium-term Trend: Bullish
Stellar is bullish on the medium-term outlook. The bulls broke out the supply level of $0.21and $0.24 as their momentum gradually increased. The bulls’ pressure pushed price up toward the supply level of $0.24 due to the formation of bullish engulfing candles in the medium term, which means that bulls took control of the market last week.
As at present, the price has formed head and shoulder pattern with the neckline at the demand level of $0.24. The price will have to break the demand level of $0.24 for the downtrend movement occurrence and this will expose it to another demand level of $0.2. The price is between 4-day EMA and 50-day EMA, with MACD below zero and its signal lines parallel which indicates the possibility of the further uptrend. Traders should be patient and watch out for the price direction.
The post Stellar (XLM) Price Analysis: Trends of September 27–October 3, 2018 appeared first on CoinSpeaker.
One of the most anticipated blockchain Dapp projects went live last week. The project is called FOAM and it aims to create a stable, resilient map of the world via smart contract technology. The highly anticipated decentralized application has launched on the Ethereum blockchain with users already populating the map.
The developers intended for the technology to mirror GPS while instead being an open technology, which anyone can contribute to. This idea is great since many people have learned how to trick their GPS to show false information. It’s notably easy to trick the GPS that you are in Barcelona, while you are comfortably sitting in London.
FOAM brings Proof-of-location (PoL) to the mix
This is why the developers came up with “proof-of-location”. Essentially it’s a cryptographic method, which offers proof that a user has actually visited the location in question. Now that the FOAM dapp has launched, it’s designers believe that there is no possible way for cheating.
New users can populate the map with new locations by using the token, also called FOAM. It was distributed by the company in a sale totaling over $16 million, that ended in August. These FOAM tokens also serve the function of “quality-control mechanisms.” Allowing users to vote and challenge the accuracy of newly registered locations on the map. While this mechanism is relatively new, it’s still been used in some DApps and it’s known as the token-curated registry.
It’s important to note the existence of the “point of interest” system. Users who bought FOAM tokens are required to use the tokens. They must place at least 10 interest points on the map. Failure to do so will result in the inability to transfer tokens outside the protocol. That being said, even if users comply, they are still prohibited from transferring tokens for the first 45 days.
These restrictions have an interesting idea behind them. Many tokens are only seen as objects of speculation. The designers want the tokens to be used to contribute to the project by cryptography and also to prevent pump and dump schemes, very popular amongst Initial Coin Offerings.
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It is quite natural for people to be rather suspicious about something new that has come to their lives. When it comes to money, people are extremely suspicious. That’s why it is quite understandable that there is still a lot of skepticism around cryptocurrencies today.
Nevertheless, a number of projects and enthusiasts are actively working on mainstreaming mass adoption of cryptos trying to persuade people that cryptocurrencies can bring significant benefits to the financial markets and economy in general. One of active supporters of cryptos is Joseph Lubin, founder of ConsenSys and co-creator of Ethereum.
In his op-ed, he revealed his opinion on the “equal waves of fascination and skepticism” concerning cryptocurrency. He turned to a number of historical facts to show that people have always been skeptical towards those who offer new concepts or forms of money. Nevertheless, he noted:
“Cryptocurrency is in many ways a natural evolution of prior representational systems, though one that favors truth over state-sanctioned power.”
He named digital currencies just a version of paper money of the 21st century that has a very important difference from the tradition form of money. Their decentralized and open nature is something very opposite to the state-controlled property systems. Such features of cryptocurrencies also significantly reduce the necessity to trust other participants of the system as it is an open P2P system.
Lubin believes that decentralized tools will help to achieve better dissemination of money with the help of the most advanced technologies and, moreover, thanks to these new networks we will accept higher standards for transferring funds, including new security and speed standards.
Ethereum co-creator also mentioned the possibility of digital currency and blockchain technology to enable refugees and displaced people to keep their identity as they can utilize the above-mentioned technology to store their documents and to present them all over the world for financial purposes.
Lubin expressed his hope that despite a number of concerns about cryptocurrencies due to downward trends on the market this year, they will be widely adopted in the upcoming years bringing significant benefits, including social ones, for the community and businesses. He wrote:
“Instead of adversarial relationships between corporation and customer, we will have collective common-good relationships on networked open platforms. It’ll take time, yes, but the uptake has been swift.”
Let us also remind that Joseph Lubin together with other prominent figures in the industry including Arie Levy-Cohen, Zach LeBeau, and Alex Klokus, took part in creation of the documentary film called ‘Trust Machine’. The film represents itself a drama telling a real-time history of all the events occurring in this space. Trust Machine is aimed at presenting the entire story of blockchain and cryptocurrency in a very comprehensive way for a wide audience. The film will be presented on October 26, 2018, in New York.
The post Ethereum’s Co-founder Joseph Lubin: from Money Evolution to Cryptos and Trust appeared first on CoinSpeaker.
Bitcoin Cash was able to bust through its long-term descending trend line to signal that a reversal from the selloff is underway. Price has also moved past both dynamic inflection points at the moving averages as additional confirmation.
However, the 100 SMA is still below the longer-term 200 SMA to suggest that there’s still some bearish pressure left. This might pave the way for a quick retest of the broken trend line around $450-500 before Bitcoin Cash sustains the climb.
Stochastic is pointing up to show that buyers have the upper hand and could keep pushing for gains until overbought conditions are seen. This oscillator is nearing that level, though, so there could be a chance of profit-taking soon. Also, RSI is heading higher but also nearing overbought levels to reflect exhaustion among buyers.
Bitcoin mining giant Bitmain is reportedly gearing up for an IPO as it revealed its plans and profits for the first time. This Chinese company, founded by billionaires Jihan Wu and Micree Zhan, is said to have $12 billion valuation after its most recent funding round.
Based on their financial statements released this week, Bitmain made $742.7 million in profit during the first half of this year. After adjusting for costs and expenses, the company’s net profits were $48.6 million in 2015, $113.5 million in 2016, $952.5 million in 2017 and $952.1 million in Q2 this year. As of June 30 this year, Bitmain has made $2.8 billion in revenue, representing a ten-fold gain over the same time last year even as cryptocurrency prices have tumbled.
Keep in mind that Bitmain has publicly bet on Bitcoin Cash, although the exact figures have yet to be reported. With an ICO filing, this could mean tremendous gains for the company and its holdings of Bitcoin Cash, so understandably traders rushed to join in.
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As it has been recently revealed, one of the world’s major professional crypto trading platform Bitfinex has launched the beta version of its decentralized exchange functioning on the base of EOSIO technology which is called EOSfinex.
Founded in 2012, Bitfinex was established in 2012 and now its 30-day trading volume is over $14 billion USD. This digital asset trading platform offers crypto traders and global liquidity providers the most demanded services. Moreover, it provides access to P2P transactions, over-the-counter markets and margin trading for a wide range of crypto assets which is possible thanks to implementation of various trading and charting tools.
It is important to mention that the announcement of the beta launch of EOSfinex just follows the recent launch of another platform of Bitfinex. It was a hybrid Ethereum-based exchange known as Ethfinex. Thanks to its hybrid nature the platform offers its clients a chance to enjoy both centralized and on-chain trading opportunities. These projects demonstrate Bitfinex’s real desire to contribute to the development of the growing blockchain trading ecosystem.
Speaking about EOSfinex, Chief Technology Officer of Bitfinex, Paolo Ardoino, stated:
“We are delighted to be moving forward with EOSfinex, which will allow for increased innovation within EOS, further developing aspects of scalability and performance of exchange platforms. The EOSIO technology supports high-speed transactions, particularly with high volume trading, which will be a strong advantage for on-chain trading, and proves the potential for digital asset exchanges to continuously develop. This is also a very exciting time for Bitfinex, as we continue to demonstrate our commitment to working towards the evolution of trustless decentralised exchanges.”
The main aim of EOSfinex is to make peer-to-peer value exchanges simpler, to enhance their transparency and the level of trust from the side of users. The final goal of the platform is to create conditions for high-volume blockchain-based trading.
Thanks to EOSfinex, it is planned to build an expanded peer-to-peer network that will be available for participants from different corners of the world. At the beginning of its functioning, EOSfinex will offer a possibility to work with the major trading pairs that include EOS/USD, BTC/USD, and ETH/USD. But it is expected that in the future this offering will be expanded with the help of specific trusted contracts.
EOSIO is a technology on which EOSfinex is based. Through the usage of this technology the platform will ensure the horizontal scaling of decentralized applications. As a result, developers will have a possibility to build highly effective distributed applications.
According to Paolo Ardoino, the platform is a very significant development not only for Bitfinex but also for EOS. He said that EOSfinex will become a highly-scalable platform that will stand out from the row of its rivals for high level of transparency, excellent speed of transactions, their security and special focus on decentralization.
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After four months of talks about a dollar-backed stablecoin, the Boston-based peer-to-peer payments and technology company Circle has finally announced its release.
Developed with the help from the company’s CENTRE affiliate consortium, USD-backed digital token called USD Coin (USDC) officially went live today, September 26. Being rated 1:1 to a fiat currency, USDC is now available for buying, selling and sending on Circle Trade and Poloniex exchange, which was acquired by Circle earlier this year.
According to Circle co-founders Sean Neville and Jeremy Allaire, the stablecoin will be used as a means to tokenize U.S. dollars to easily transfer value on public blockchains. USDC allows individuals and institutions to deposit U.S. dollars from bank accounts and convert fiat currency into tokens usable throughout the Internet.
As Jeremy Allaire told in an interview:
“Market infrastructure like stablecoins will become the base layer that supports every financial application. It has to be legitimate, trustworthy, built on open standards. We are solving a lot of these fundamental problems that exist. That’s a huge difference from something like Tether, and we think the market will very quickly gravitate to that.”
USDC represents itself the first stablecoin developed by Circle. In comparison to traditional cryptocurrencies, this token is rigid to volatility. It solves many issues like, for example, it allows users to convert Bitcoin or Ethereum tokens to USDC instead of cashing them out, so that it would be easier to buy cryptocurrencies again in the future.
The stablecoin is also a great solution for those seeking to avoid traditional financial institutions, as it provides its users with an option of transferring USDC to each other without any need for a bank as a third party.
Apart from Poloniex, the token will be available on other exchanges, including Huobi, OKEx, DigiFinex, CoinEx, KuCoin, Coinplug and XDAEX. Moreover, Circle has recently partnered with Kyber Network, IDEX, Radar Relay and Tokenlon at the protocol level, while Dharma, Origin, BlockFi, MoneyToken, Melonport and Centrifuge will work with the stablecoin for lending, investing and payments.
The news about the stablecoin’s release came today together with another one related to Circle as well. According to an announcement, Circle is adding four new digital assets to its Circle Invest platform. With the new listings of EOS, Stellar, 0x, and Qtum, the total amount of digital currencies available on Circle makes up 11, which means that Circle Invest becomes one of the top apps for accessing a wide range of assets.
The post Stablecoin Euphoria: Cryptocurrency Finance Firm Circle Releases Its First USD Stablecoin appeared first on CoinSpeaker.
The leading cryptocurrency mining company Bitmain has officially filed a draft application for listing its shares on the Hong Kong Stock Exchange. The document discloses information to the public needed for its IPO procedure.
74.5 Percent Market Share
Chinese cryptocurrency mining giant Bitmain moves forward with its plans for an Initial Public Offering (IPO), filing a required draft application with the Hong Kong Stock Exchange (HKEX) disclosing important information to the public.
The document mainly outlines the strengths of the company, highlighting that Bitmain is, indeed, the largest global “ASIC-based cryptocurrency mining hardware company in terms of sales revenue in 2017, accounting for a market share of 74.5%.” What is more, the company has described itself as “one of the few companies offering mining solutions for various cryptocurrencies” such as Bitcoin, Bitcoin Cash, Ether, Litecoin, Dash, and Zcash.
It’s worth noting, though, that the world’s second-largest bitcoin mining hardware maker Canaan Inc., filed for an IPO earlier in May.
Troubles in Paradise
The filed document also sheds some clarity on Bitmain’s financial and inventory situation. The draft reveals that the company is, indeed, facing adverse challenges due to “market volatility.”
In Early 2018, we anticipated strong market growth for cryptocurrency mining hardware in 2018 due to the upward trend of cryptocurrencies price in the fourth quarter of 2017, and we placed a large amount of orders with our production partners in response to the anticipated significant sales growth. However, there had been significant market volatility in the market price of cryptocurrencies in the first half of 2018. As a result of such volatility, the expected economic return from cryptocurrency mining had been adversely affected and the sales of our mining hardware slowed down, which in turn caused an increase in our inventories level and a decrease in advances received from our customers…
Earlier in August, two major companies have publicly denied being involved with the prospective IPO of Bitmain, casting yet a fresh round of controversy around it. The companies in question are Tencent and Softbank, both of which denied interest in the IPO.
It’s also important to note that Bitmain’s purported vast reserves of Bitcoin Cash (BCH) are also putting the company at a disadvantage, as they would remain relatively illiquid unless the market undergoes a notable transformation.
Nevertheless, the news for Bitmain’s IPO filing did have a massive impact on BCH’s price, which is up 20 percent in the last 24 hours according to data from CoinMarketCap.
What do you think of Bitmain’s IPO? Don’t hesitate to let us know in the comments below!
Image courtesy of ShutterStock and Quartz
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There probably isn’t a person who has used the Internet and hasn’t encountered a captcha. That pesky invention that wastes your time and sometimes cannot be understood by any means.
If you can relate, you’ll be glad to hear that two blockchain startups have stepped up. The two startups are done trying to teach AI’s into recognizing stop signs. On Wednesday a new solution was announced, which will fight the armada of automated bot nets.
For most users, regardless of proficiency with the Internet, bots present an annoying problem. Ironically we are forced to spend a chunk of time online proving we’re human. The features, which waste our time chew on our nerves range from clicking a checkbox to those disgusting blurry images with shop names and street signs. It’s interesting to note that the street signs and traffic signals images were and probably still are, used to train self-driving cars.
While annoying, the captcha still has many uses
The captcha or (Completely Automated Public Turing test to tell Computers and Humans Apart) is annoying. That’s the simple and honest truth for every web user. Companies however, are in an even bigger pickle. There is absolutely no way to tell if their ads are seen by people or bots. It’s been estimated that around 37% of all ads the companies pay for are viewed by bots.
The two blockchain startups Enigma and Datawallet have teamed up to introduce a new product: “The Bot or Not protocol.” The goal is simple: reduce bot presence on ad networks by the maximum amount possible.
When launched, Datawallet will allow users of digital services to effectively own and monetize the generated data by the services they use. This will be done through the so called “self-sovereign wallet.” By using ethereum, the protocol will allow users to sell social media or music/gaming stream data to a company. The company can later unfortunately resell that data to as many advertising companies as it pleases.
The transaction however, will be ensured by the use of public-private key pairs. This cryptographic technique will keep a secure exchange. The cryptographic hashes will be posted on the blockchain. This means the point payment will be done with Datawallet’s tokens.
Enigma’s ICO managed to raise $45 million last year. They will add their privacy protocol in order to protect users from personal data exposure. It’s not worth escaping captchas only to leak personal info into the wrong hands.
Bot or Not will focus mainly on preventing ad fraud and Sybil attacks. These two problems present a massive issue and affect many only users. Decentralized technology can ultimately, be a great answer for the identity issues.
You can also check out:
Large-Scale Mining is Still Profitable: Millions Can be Made with Big Investments
Silk Road: The Story of Billions of Dollars, Bitcoin and Warped Ideals
World Governments and How They Define Cryptocurrencies
Blockchain Spending Projected to Increase Tenfold in the Next 5 years
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