Top 10 crypto projects – Second Semester 2019

  1. BNB (Binance coin)

With the popularity that this issue has managed to address across the globe, it is expected that many people without knowledge of cryptocurrencies will begin to inquire about the best way to start investing, and one of the most prevalent thanks to the platform that supports it it’s the Binance coin.

Not only that when you take advantage of the platform you get a discount, but also the transaction fees are guaranteed, which is quite attractive.

 

  1. XRP (Ripple)

Although the price may look quite low, this does not define at all the characteristics that this altcoin can provide, due to its principle which works slightly different from the other cryptocurrencies.

Ripple was created to finance large institutions, and with the popularity recently taken in Asia large movements are expected.

 

  1. EOS

Although Ethereum has been highlighted as one of the altcoin with enormous technological advances, EOS has taken giant steps to make itself known in the market, with the ease of not necessarily possessing programming knowledge to understand the functions of it, together to the use of different tools and numerous other services.

 

  1. BTC (Bitcoin)

While you can hear predictions about possible declines in this altcoin, its popularity cannot be underestimated at all, being the most outstanding in the current market can bring great surprises throughout the second half of this year.

 

  1. XLM (Stellar)

This crypto has become quite important, both for its integration with smart contact protocols and also for the financial service with large corporations, there are quite a lot of expectations in this regard.

 

  1. IOTA

Being one of the well-known decentralized currencies in the market, there are expectations that IOTA can generate significant changes in the remainder of 2019, thanks to its scalability in transactions and that it is simply modular.

 

  1. ETH (Ethereum)

The top 2 of the most recognized crypto cannot simply be inconsiderate from this list, being one of the most invested by large blockchain institutions, its power in the market and in the different organizations and their hands subject to it make known what can contribute globally.

 

  1. LTC (Litecoin)

This is an interesting and one of the best long-term altcoins to invest. Litecoin is ready to become the next peer-to-peer payment facilitator, with the fastest and most efficient block processing speed that sustains impacted miners, this crypto has a much more decentralized work test algorithm than Bitcoin.

 

  1. XEM (NEM)

Not for nothing is it marked as one of the next peer-to-peer in payments and transfers, but NEM in its addition is generating quite a lot of noise in the Malaysian market, with its collaboration towards government institutions, security and technology, and its outstanding approach to business customers.

 

  1. TRX (Tron)

Recently, this altcoin has acquired BitTorrent, which allows the development of different disconnection methods in safe and decentralized torrents for the future. These innovations can facilitate the spreading of files over a network, and collect them for users to download.

Bitcoin Trends Q3 2019

Bitcoin could be setting the ground for a possible upward movement, although the negative corrections in the market can serve as a refuge for the stock market, taking into account that institutional money can enter with Fidelity and with Coinbase.

After Binance announced the limitations of trading in certain countries like Venezuela, or even states in the US, it is no longer considered decentralized, and taken as bad propaganda in previous times, it has generated some noise with movements in general for all the altcoin.

As long as the market continues to triumph on the institutional market, there is a possibility that decentralized exchanges can be absorbed by large companies with considerable relief, and yet this does not influence as much as the recent event with the United States and China.

After the economic combat of these two countries, it can be perceived in the coming months that there is a significant rally due to the stock market downturn and difficult markets and an ABC, creating greater attractiveness in commodities after the eve of a recession.

Based on this, it can positively affect Bitcoin, because it will serve as a refuge with a constant movement for people looking to avoid losses in the market.

There is a possibility that Bitcoin touches the 8800$, where there will be strong resistance, and if it manages to continue the movement at 8,900$ and break the scale, it is very possible that it can rise to 10k, we must be very attentive and that nothing is currently sung, but if there is a coincidence with the stock market crash, these changes may occur.

In other news, the chief investment officer said this week that a sharp rise in Bitcoin price indicated that investors were unsure about the Federal Reserve’s stance on interest rate cuts, as well as about the outcome of an ongoing trade war between the US and China mentioned above, that kept buying sentiment weaker in both the Western and Asian stock markets.

The growing exposure for Bitcoin has created a demand for crypto in times of stock market uncertainty. Despite claims that Bitcoin is devoid of value, the cryptocurrency competed with gold as an alternative asset class for investors fleeing the S&P 500, a trend likely to continue if the DOW takes a hit.

Undoubtedly, Bitcoin currently has the baton of the market, considering that the other currencies will not make huge differences at present while the number 1 in Coimarketcap does not generate changes, so many traders recommend maintaining caution with the other crypto.

The next Bitcoin block reward halving is estimated to occur by May 2020. Currently, about a year before its halving, Bitcoin is up substantially year-to-date and is demonstrating strong momentum in what many analysts consider as the start of a bull market.

Although short-term volatility is expected given the gain of the Bitcoin price in the past six months, the macro trend of the asset remains positive as shown by key technical indicators.

Enigma Machine

Did a Bletchley Park Code-breaker Help Create Bitcoin?

Craig Stephen Wright

Craig Stephen Wright

In a recent interview with Fred Schebesta, Craig Wright alleged that the late British mathematician David Rees played a role in the creation of Bitcoin.

As a mathematician, Rees began his career as an associate of Alan Turing at Hut 6 in Bletchley Park after 1939, where he was one of 450 code-breakers who contributed to Turing’s successful effort to break the German Enigma Code. After Bletchley Park, Rees’ career lasted nearly seven decades.  As a professor at the University of Exeter, he worked on the development of public key cryptography and made many other contributions to the fields of mathematics and computing.

Bletchley Park

Bletchley Park Mansion

Bletchley Park Mansion

Bletchley Park is a nineteenth century mansion located in Buckinghamshire, England, which was used to house the Government Code and Cipher School whose staff cracked the codes used by the Axis powers in the second World War.  Turing was a leading cryptographer at the school during the war, and is given the primary credit for breaking the Enigma Cipher.  Turing is considered by many to be the father of the modern fields of theoretical computer science and artificial intelligence.  Rees worked with Wright’s grandfather at Bletchley Park during the war.

Due to the large number of staff, temporary offices called “huts” were assembled on the grounds.  Each hut housed a code-breaking team of about 450 people. Hut 6 and Hut 8 later became famous for their work in breaking the Enigma Cipher.

The Enigma Cipher

Enigma Machine

Enigma Machine

Germany had developed ciphers called Enigma Machines which were used by military radio and telegraph operators to coordinate the movements and supply lines of the German forces.  The code breaking work conducted at Bletchley Park was classified as “Ultra Secret.”  Once they had broken the Enigma Cipher the code-breakers were employed full time decrypting and translating intercepted German military communications.

By enabling the Allies to read German communications in near real time, the intelligence produced at Bletchley Park was crucial to the success of the Allied war effort. It is estimated by some that  that it reduced the length of the war by up to two years.

Professor-David-Rees

Professor-David-Rees

Family Connection

According to Wright, he had been introduced to Rees by his grandfather.  Rees later advised Wright on the theoretical mathematics that undergird the mining algorithm of Bitcoin.  Rees died at the age of 94 in 2013, five years after the Bitcoin Whitepaper was published.

Wright’s grandfather studied wireless communications technology under the Italian nobleman, Guglielmo Marconi, who was the inventor of the radio.  Wright said his grandfather was later assigned to Bletchley Park due to his expert knowledge of radio communications.

Wright’s account suggests that there is a direct link between Bitcoin and the founders of the fields of computer science, cryptography, and artificial intelligence.

In the interview Wright also discussed the contributions of Dave Kleimann and Hal Finney to the creation of Bitcoin.

 

New Crypto Regulatory Framework Australia

Recently, some statements have been made regarding new guidelines in cryptocurrency by The Australian Securities and Investment Commission (ASIC) about the Initial Coin offering (ICO) mining, and trading, that is highlighted by the Australian corporations and the requirements regarding the inconveniences that occurred in the past 2017.

The new rules focus on the laws established about the signatures of the cryptocurrencies under the Australian companies law and the laws added to it. In more detail, the Securities Regulator specifies the steps required for a company focused on encryption that must be carried out with the ASIC and Australian corporation’s laws.

With respect to the established regulation, crypto will be considered as financial products, although it will be necessary to request the approval of the Australian regulators in order to acquire the necessary licenses for their implementation based on the laws.

Also, the established regulations will definitely bring another important purpose, in words of the regulator: “These regulatory requirements are in place to maintain the integrity of Australia’s financial market and ensure consumer protection.”

In this particular topic, the ASIC on the past 2018 have their focus on investors protection, the commissioner on this issue had been quite clear with those who perform the practices with keeping one foot out of the boat to understand the risks involved in the actions it may entail.

Back in 2019, the ICO and the ASIC modernized cryptocurrency trade framework do not cover the guidelines for other regulators, such as the country’s tax agency and the consumer protection group. The securities regulator says that the crypto businesses will have to make reference to the laws published by the respective agencies.

In the first published guidelines, the Australian Securities and Investment Commission said it wanted token issuers to keep their eyes open about the potential applications of the country’s Corporations Act of 2001 to ICOs. Remarking on the first ICO framework, ASIC Commissioner John Price declared:

“We want to ensure innovative firms understand the regulatory framework they may be operating under and ensure they meet any obligations they may have when raising funds in Australia.”

The statements of ASIC in this approach, encourages the producers of tokens to observe carefully and accurately if their ICO is a financial product or not. In the Austrian country, the concept of a financial product also expands to offers that involve a monetary movement.

In this way, the ICOs that contribute securities, derivatives, NCPs and managed investment schemes would be considered financial products.

 

Conclusion

Without the corresponding license granted on the basis of the new regulations, any practice considered to have an unauthorized ICO will be considered illegal in Australia, which can mean a huge gap within the terms of the law for those responsible and for those involved in it the use of them.

This will ensure a higher level of security with respect to the implementation of the currencies used in the market, and adequately protect its users.

Stellar lumens - altcoin

Updates about the Projects Stellar and Cardano

Stellar lumens - altcoin

Stellar lumens

Stellar Updates

Protocol 11 Improvements

On Monday June 10, validators will vote to upgrade the network to Protocol 11. In advance of that vote, the stellar team wants to talk through some improvements introduced in that version of the protocol, and to let the community know what they mean for developers, users, and businesses building on Stellar.

The three main changes that will occur are the following:

  • Better transaction pricing
  • Improved network capacity
  • The introduction of buy offers

When the team talk about better transaction pricing, this is referred to fees and how they will be fixed: people will be able to submit the amount they were willing to pay to add their transaction to the ledger. You can pay the fee you specified, or, if that fee was too low, ran the risk of getting clutched out by surge pricing.

Capacity is determined by validators, who vote on ledger limits as part of SCP. Preferably, they set it high enough to allow the network to support an increasing volume of activity but low enough to allow nodes with access to lower-end hardware and slower connectivity to keep up.

In addition to pricing and network adjusting improvements, Protocol 11 also leads a new operation that allows users and financial institutions to express buy offers more intuitively and accurately than before will a new exiting tool.

ManageBuyOffer, will be the perfect gizmo to submit actual buy offers. With it, you can specify the maximum amount of an asset that you are willing to buy, and the amount you’re willing to pay for it.

 

Cardano Updates

David Esser, Senior Product Manager of Cardano, joined the Cardano Effect podcast in an episode where he talked about:

  • His background, how he came to IOHK and how he collaborates with the rest of the Cardano project team
  • Some insights on the development processes used within the project
  • How IOHK’s research and formal methods approach gets translated into real code
  • The different development eras of Cardano from Byron to Basho, and how these fit together
  • How Atala fits into the story

David also shared the news that the first staking testnet is coming in June – starting with a small, closed pool of trusted stake pool operators. This will be a minimum viable product as the first iteration and we’ll be adding out more functionality and more operators over the next 3-4 months.

The Cardano Effect hosts on the podcast also point to the Best Practices stakepool channel on Telegram 36 as a place to go to get more involved.

In addition, Cardano is being developed as a decentralized public blockchain protocol and smart contracts platform that is fully open source. It is a collection of base layer protocols that will enable an ecosystem of decentralized applications to develop, facilitating the peer-to-peer.

The Cardano project is being developed and supported by three independent entities in a collaborative approach: IOHK, Emurgo and Cardano Foundation.