Source for BlockChain News

Monthly archive

May 2008

2019 Review | Chainlink (LINK) Leads, Bitcoin Stands in 6th Position



After having been in the middle of a directionless muddle for much of 2018, Bitcoin came back with a vengeance this year and went on an excellent rally that took it back to heights that had last been scaled back in 2017.

Bitcoin is the biggest cryptocurrency in the world by market cap and it is the token that ultimately decides the health of the market. However, it would come as a surprise to many that Bitcoin is in fact not the biggest gainer in 2019 so far. While no other crypto can quite match Bitcoin in terms of wealth or influence, it needs to be pointed out that there are 2,500 cryptocurrencies in total according to data from CoinMarketCap.

Chainlink is the Biggest Popular Gainer

According to data on CoinMarketCap, there are five coins that have gained more than Bitcoin this year. The five cryptocurrencies in question are Tierion, Ren, Binance Coin, Chainlink, and Huobi Token. The returns generated by these five tokens this year so far has been nothing short of remarkable and the biggest gainer is Chainlink with a whopping 800% climb. To put the rise of Chainlink into perspective, no other coin in the crypto space managed to rise by more than 400%.

>> Cryptocurrency Exchange Deribit Launches Bulk Derivatives Trading

By contrast, Bitcoin’s incredible run this year so far saw it gain 185% and although it is only 6th on the gainers list, the value added by that rise is the biggest in the crypto market. From a level of $3,764 at the start of the year, the token is now priced at $10.674 and the value it added to its market cap runs into the tens of billions.

Hence, the scale of the rise of Bitcoin cannot be matched by other coins. After the excellent run until June, Bitcoin hit a bit of a roadblock in July and much of August, which saw it losing momentum.

Featured image: DepositPhotos © artjazz

If You Liked This Article Click To Share

Bitcoin Could Rebound if Facebook’s Libra Hearing Goes Well



2019 has been an excellent year for Bitcoin (BTC) after the poor year in 2018 had instigated many to write off the cryptocurrency, and by extension, the crypto space altogether. The cryptocurrency went on a highly impressive run this year and almost replicated the sort of rally that it had enjoyed back in 2017.

However, the past few weeks have not been particularly great for a variety of reasons, but the biggest issue is the one related to Facebook’s cryptocurrency Libra. The company’s plans to launch its own cryptocurrency at some point next year was initially welcomed by the crypto space, but since then, things have not quite worked as well as one would have thought.

Libra Faces Criticism

Over the past week, Libra has come under attacks from some of the most influential figures in the global financial elite, and that has resulted in sustained bear tendencies in the market. The price of Bitcoin dropped as well, along with the prices of all the altcoins. Jerome Powell, the head of the Federal Reserve, spoke about his reservations about it and so did the United States President, Donald Trump. Bitcoin has fallen from its highs of $13,000 to levels below $10,000 today, and experts believe that the rise in price is going to be tied to Facebook’s Congress hearings that are going to end on Wednesday.

>> Blockchain and Social Media: A Match Made in Heaven?

It has been revealed that on Wednesday, David Marcus, the head of the Libra project at Facebook, is going to be grilled by the Senate Banking Committee on Tuesday, and the following day, he will need to field questions from the House Financial Services Committee. Experts believe that the doubts and uncertainties over the future of Libra are weighing heavily on the price of Bitcoin. If Facebook’s cryptocurrency manages to come out of these hearings without a lot of damage, then there is hope that Bitcoin could rise in price again.

At the time of writing, Bitcoin is looking very weak and now down 11% at $9,680.

Featured image: DepositPhotos © stevanovicigor

If You Liked This Article Click To Share

Is Cryptocurrency the Future of Advertising? How Brave Wants to Use Data



Wouldn’t it be great if there were no ads bothering you while you surf the Web?

Or if your data wasn’t everyone’s business? Companies use your data to personalize your experience and bring you more relevant ads and content. Yet, most people are not comfortable with their data being a commodity, and they also don’t see the results they are promised by giving up their data. As a result of recent data and privacy turmoil, people started taking their privacy online more seriously.

You get flooded with ads on a daily basis. You navigate through websites and services, and you can see that the sidebars are full of ads. When you click on an ad—as if that ever happens on purpose—the website owner gets a portion of the funds.

The publisher wins, the middleman wins, and the advertiser wins. But what about the user?

Recently, a new browser named Brave has been published with the intention to solve the advertising problem. It uses a cryptocurrency named BAT, based on Ethereum, which is trying to quantify the attention and the value of the user’s attention. A user can choose to reward their favorite content with the BAT cryptocurrency.

The Brave browser is based on Chromium and has an ad blocker and other privacy-related features. The user will be able to utilize this new Web browser to use the Web without having to see ads and be free of distractions. They will also be able to decide to see a BAT ad and get a reward in the form of cryptocurrency. With this crypto, they would be able to pay their favorite content providers for having great content.

The browser still needs more people on in order to have the real potential in the long term, but it’s more than doable in the future,” says Sam Velinski, a regular contributor to Boom Essays and UKWritings.

The ultimate purpose of Brave is to be secure, safe, and more comfortable for users. It will be a decentralized BAT trade platform, which will work between advertisers, users, and publishers in a much better way than it does now. There is also no need for the middleman taking a huge portion of the sum.

The Coinbase earn website will reward the users with BAT tokens after they have watched some videos and downloaded the Brave browser. Coinbase earn is a platform that can be seen as an elaborate cryptocurrency advertisement.

Many people react with skepticism. The team behind this idea include the man who created Javascript and the Co-founder of Mozilla and Firefox. Both are great professionals, and they can bring many new things with this idea.

But the question remains: is this the true future of digital advertising? It may sound a bit dystopian or different than what we have now but remember that the Internet was different once as well. Google too.

>> Facebook Enters the Crypto Space with Libra Coin

The main concern here is that BAT and Brave might take over completely, making it very hard on the users because we would be forced to listen and watch ads in order to use our beloved publishers and services,” says Amber Telling, an author at Essayroo and Paper Fellows.

Imagine if it became a norm with email, cloud storage, or YouTube. We would have to watch many of these ads in exchange for tokens that enable us to see our favorite content. Not to mention what that would do to publishers in the sense of traffic.

This is not a reality yet, but it might be in the future. In essence, it brings us many perks like having more privacy and paying for what we want to see with money we can earn from ads. But it also has some negative sides. Which one will prevail, we have yet to see.

This article was curated through CryptoCurrencyNews’ Contributor Program. If you would like to write for us, send us your submission!

Featured image: DepositPhotos © georgejmclittle

If You Liked This Article Click To Share

Ripple Makes Last Ditch Attempt to Dismiss Securities Lawsuit



Ripple has filed a final motion to dismiss a lawsuit alleging that it held an unauthorized securities sale of its XRP tokens, arguing that the plaintiffs failed to meet a legal deadline for filing the suit.

The crypto company has reiterated its stance that XRP tokens are not a security and, therefore, not held to SEC regulations regarding offerings and has labeled the case against it as “self-defeating.” In addition to this argument, Ripple also says that the case was brought to court after the statute of repose, which states that claims must be made within three years of a security being offered to the public, had expired; therefore, making the case inadmissible.

Ripple first began selling XRP in 2013, meaning any case brought after the three-year statute of repose should be dismissed; however, the plaintiffs argue that the sale of XRP was ongoing at the time the lawsuit was filed in 2018. “The Court’s passing reference to the statute of repose running ‘from the defendant’s last culpable act (the offering of the securities),’ … does not upend the ‘first-offered’ rule,” the filing said, referencing a number of other court cases that supported this argument.

It is reportedly Ripple’s last attempt to have the case dismissed before a scheduled hearing in mid-January. Ripple had previously moved to have the case dismissed back in September, arguing that there were “multiple, independent grounds” for dismissal and that a court “need not resolve whether XRP is a security or currency,” but this argument was waved away by the presiding judge.

>> Ethereum Gets Solid Support from Ernst & Young: What to Expect

At the time of that attempted dismissal, crypto-focused lawyer Jake Chervinsky was critical of Ripple’s defense, saying, “They make twelve separate arguments for dismissal of the plaintiff’s claims. Not a single one squarely addresses whether XRP is an unregistered security.” Ripple will return to the Northern District of California on January 15, 2020.

Featured Image: DepositPhotos © Tolikoff

If You Liked This Article Click To Share

Go to Top