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July 2018

Samsung Galaxy S10 Supports COSMEE and Other Crypto Projects

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Samsung Galaxy

Samsung Galaxy

It says a lot for cryptocurrency everywhere that one of the biggest phone brands in the world has added support for digital assets in its latest release. Samsung’s new Galaxy S10 series has done just that, with a built-in wallet function for Bitcoin, Ethereum, and two other altcoins.

Samsung Galaxy S10 Supports Crypto

A Samsung official unveiled the phone’s new features at the Mobile World Congress in Barcelona, Spain yesterday.

The phone has been created with “various crypto and blockchain related projects” as standard on the device. It presented COSMEE, a blockchain-based beauty social media platform, as its first dApp partner.

COSMEE

Serviced by Cosmochain blockchain, COSMEE is a well-known dApp in Korea that uses the blockchain to share and log beauty content. Users can earn COSM tokens on the service by uploading beauty reviews within the application. These reviews reward the user COSM cryptocurrency depending on ratings given by other users. Users can spend COSM tokens within the application.

According to dApp Life:

“Cosmochain explains that a trustworthy reward system can be created, as all activities including reviews and evaluations can be recorded on blockchain.”

Enjin Crypto Wallet

The tech giant also unveiled its support for Enjin on the Samsung Galaxy S10. Enjin is a South Korean cryptocurrency wallet that is pre-installed on the phone. Enjin is reportedly capable of sending and receiving ERC-20 tokens and ERC-1155 crypto game assets.

>> Coinbase Pro FINALLY Adds Ripple and XRP Gets a Boost

Galaxy S10

Samsung first unveiled the Galaxy S10 at the Galaxy UNPACKED 2019 event in San Fransisco. Here, it revealed the ‘Galaxy Keystore’, which allows for the safe deposit of digital assets. Until today, the company did not disclose what specific cryptos or dApps it would support. Samsung has been actively engaging with a variety of dApp projects with a means to become a platform supporting a variety of different services.

What do you think of the Galaxy S10 support for cryptos? Is this a bullish move?

Featured image: DepositPhotos © KostyaKlimenko

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Ripple (XRP) Slips Below $0.34 Mark as Selling Intensifies

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Ripple

Ripple

Ripple (XRP) has been very volatile since the beginning of this week. After showing positive price movement on Monday, Ripple has been correcting since Tuesday and has slumped 20% since then. At the time of writing, XRP is trading lower by 5% at $0.3310.

Key Supports & Resistances

If the digital asset maintains the declining momentum and panic continues to make people sell, then XRP prices will dip massively and close below $0.34, which will invalidate prior XRP/USD trade plans. Currently, prices have gotten back to consolidation in the $0.15 range with caps at $0.50. On the technical chart, a breach of the $0.31 level will most likely nullify the bullish outlook of the trade plans as bears are expected to drive prices to $0.285 thus retesting the main support level of Q1 2019.

Ripple has slumped 50% from its 52-week high of $0.783 and is down 27% over the past year.

About Ripple

Ripple (XRP) is strongly protected by the so-called XRP Army. The Army supports Ripple, which is the third most liquid asset in its strength, and will shut down any critics of XRP regardless of the validity of their inquiries or objective. As a result, their efforts have paid off and have seen XRP being embraced by Binance as its base currency.

>> Stellar (XLM) Outperforms After the Fall Earlier This Week

Equally the efforts of the army have seen a response from Skype, although that request is still being contemplated. Ripple is focused on expanding globally as a payment settlement platform. However, Marjan Delantine, the Head of Global Banking, indicates that the objective is not to outcompete SWIFT, which is already established, and other platforms but rather to complement them.

The appointment of IMF Managing Director Christine Lagarde as the head of ECB is good news for the crypto industry because she is open to cryptocurrencies and more so to Ripple (XRP). The ECB does still hold a firm stand against Bitcoin, which they say is an asset rather than a currency, but her being at the helm could bring about changes to the ECB’s crypto attitudes.

Featured image: DepositPhotos © akulamatiau

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Bitcoin Falls Another 10% on China’s Crackdown

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Bitcoin

Bitcoin

The biggest cryptocurrency in the world by market cap started off the year with a rally that went on for six months, but since then, it has been a bit chaotic. On Monday, Bitcoin slumped to its lowest level in six months after the Chinese central bank, The People’s Bank of China (PBOC), launched a crackdown on cryptocurrencies.

The PBOC warned that there were risks associated with either trading or issuing cryptocurrencies. Considering the sheer size of the Chinese market, it proved to be a blow to BTC, and the token slumped by as much as 10% to hit $6,738.

Major Issues

It should be noted that Bitcoin is not only the biggest cryptocurrency in the world but also the most traded and frequently records massive volume. Such a development is also likely to have an adverse effect on the wider crypto carpet. The PBOC stated that it is going to clamp down on the growing cases of illegality with regards to cryptocurrencies, a move that could have a long-term effect on the crypto industry.

That being said, the central bank was quick to point out that it is supportive of blockchain technology, and the misgivings about cryptocurrencies should not be confused with an indictment on the former.

>> Altcoins See Red as Bitcoin Capitulation Drags Down Market

Earlier on, China’s stand on blockchain technology and the possibility of the PBOC launching its own crypto token had fired up the crypto space. However, experts are now coming around to the realization that the embrace of blockchain technology did not necessarily mean an embrace of cryptocurrencies in general.

A portfolio manager at the cryptocurrency company NKB Group said as much: “It’s the realization that the positivity over Mr Xi’s blockchain announcement was exaggerated. It may not include Bitcoin at this point.” Due to the sheer size of the Chinese market, the announcement about blockchain had created a lot of optimism in the crypto sphere, but much of this appears to have faded by now.

Featured image: DepositPhotos © Alan

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