Your Daily Crypto News on Steemit August 31, 2017
- Moderator gathers $ 50k in Bitcoin and Dash to help Hurricane victims!
- Goldmint wants to redesign the gold trade!
- Messenger service Kik: ICO becomes concrete!
- Moscow Stock Exchange plans opening for crypto currencies!
- New Coins on the Block - Hshare (HSR)!
Hurricane Harvey swept through the state of Texas and through the Gulf Coast, causing massive damage and driving hundreds of thousands. The hurricanes will undoubtedly be one of the largest that the US has hit in recent decades.
Danny Sessoms, presenter of a crypto currency show in Austin, has teamed up with the people of unsung.org to start a fundraiser for the victims of the Hurricanes. In his show Sessoms has announced that he will only donate in the form of Bitcoin and Dash and that he will use these donations to buy the most necessary tools for the victims.
His fundraiser made about $ 50,000, Sessom took the money, drove to Walmart, loaded his truck and set off.
Danny Sessoms said:
Crypto currencies have been badly forged here and there because of the use of illegal activities and money laundering. Actions like these are good examples, which improve Bitcoin's image again.
Many victims of the storm need help. If you want to help, please donate HERE.
People buy gold for two reasons: greed and fear. The versatility and depth of gold's potential uses make it an important part of any culture in the world.
For many, gold is less an opportunity to invest, but rather a protection against the fluctuations of other currencies. Many investors also fear the control of the money systems. Since the outbreak of the financial crisis, central banks have been trying to restore control of the financial markets. Currently, a hyperinflation is based on Venezuela. Gold ownership reduces the impact of comparable crises and ensures the prosperity of the owners.
Yet gold is not a cure-all. First of all, gold purchases are always subject to cuts, for example in the form of premiums, depending on the type of gold and the channel on which it is traded. In the worst case, up to 20% of the gold value may be levied. The larger the ingot, the lower the premium is in terms of the total value of the gold. However, large bars can not easily be unwound, since not all traders are willing to buy gold bars by the kilo . There are also problems in processing. Thus, jewellery prices are more dependent on fashion trends than on actual market prices.
Probably the greatest problem of conventional gold is storage. Gold is one of the most popular targets of robbers, especially the gold deposits are extremely risky in the event of a break-in. The storage in the banks' safes is extremely costly and also makes it impossible for the owner to control the gold. In addition, there is always the risk of confiscation by the state at national margins.
Bitcoin and other crypto currencies based on the blockchain have the potential to solve these problems. The decentralization of the blockchain protects currency and users against manipulation and additional costs. On the other hand, the risk of these cryptic risks lies in the high price fluctuations to which they are subjected day by day. Bitcoin alone has experienced a fluctuation of more than 10% on some days.
Goldmint wants to counteract this with the new Token GOLD. It pairs the advantages of the other blockchain based currencies, their decentralization, transparency and security against manipulation, with the advantages of gold, to create a new investment opportunity for interested investors.
Each Token GOLD should be an ounce of gold and be covered by stock exchange gold. In addition, each token can be split as small as desired and paid for. There are no risks or costs associated with storage, since the GOLD tokens are stored on the blockchain.
Goldmint's ICO is scheduled for September 20, 2017, with the launch of the pre-sale token MNTP. The starting price of an MNTP is to be 7 USD and be obtained with BTC and ETH.
The popular messenger service for smartphones Kik is referred to by some sites as the "American WhatsApp". Now, before the launch of the Public Token Sale next month, he has already taken 50 million US dollars in a private sale.
forms. The pre-sale of the Ethereum based Token Kin included, among others, Blockchain Capital, Pantera Capital and Polychain Capital as investors.
Kik is probably the most widely known and widely covered company, which is launching an ICO in the form of a public token sale - with an estimated 15 million monthly users of the messenger service, about 60% of whom are from the target group of the 13-24 year olds.
At the Public Token Sale next month 75 million US dollars will be implemented, which would give the ICO a total value of 125 million US dollars. The Kin Token is based on Erthereum's ERC-20 standard, which makes it trade-bar and thus also in US dollars.
For the company, the ICO is a welcome opportunity to obtain cash. Through listing at various crypto exchanges, Kin serves prospective investors as an investment. In addition, the service provider is striving to grow the token as a crypto currency in the long term. This can work as a payment method throughout the network - in exchange between users, developers and authors.
According to media reports, the Moscow Stock Exchange is currently working on an infrastructure to deal with crypto-currencies. This also includes derivatives and ETFs based on crypto currencies.
The Moscow Stock Exchange made concrete plans to include trading in crypto currencies. This was announced at a press conference on the Russian news platform Tass. It states that the work on an adequate infrastructure for the trading of crypto-currencies is already underway. More specifically, it was "a platform for post-trading services for crypto assets."
Access to the Moscow Stock Exchange, the largest Russian platform for securities trading, underlines the growing importance of crypto currencies in Russia. The institution is the largest of its kind in the country and includes common stocks, bonds, foreign currencies, derivatives, precious metals and financial products.
The announcement that future selected crypto assets will be legally traded on the Moscow Stock Exchange will also fit into the line of the Russian Treasury. For example, the Deputy Finance Minister of the country Alexei Moiseev had announced in an interview last week that plans to regulate Bitcoin as a financial asset. The Ministry of Finance is closely linked to the Central Bank and the Moscow Stock Exchange. Trade in crypto currencies should therefore be limited and restricted exclusively to qualified investors, since it is too dangerous for ordinary people. The ministry leaves open the question of exactly what is said. The Moscow Stock Exchange, on the other hand, reinforces Moiseev's statements by confirming that only qualified investors are willing to allow crypto trading.
According to this, this step could only be a Russian opening up for crypto-currencies on the surface, as the proposed solution would exclude many crypto users from official, state-regulated trade and be driven into illegality. Instead, the Russian government goes the way to make the use of crypto currencies accessible only to an elite circle.
With Hshare, an asset has appeared in the top 20 from nowhere - what is it about?
Hshare is a new asset, which only recently had its ICO. Since August 28, with a market capital of over one billion US dollars, Hshare has almost secured a place in the top ten.
Why are many people enthusiastic about the concept Hshare, which could earn 21,000 BTCs with its ICO within one month?
In order to understand the value of Hshare, the actual project, which has been used to make money via the ICO, has to be discussed via Hypercash or Hcash.
A recent development trend would like to answer a central question in the Altcoin ecosystem: How to deal with the amount of blockchain-based systems as efficiently as possible? Projects such as TenX, Ripple or OmiseGo already work on answers. Hcash joins these projects and wants to be a system that can work as a sidechain between blockchains.
A special feature is that Hcash does not only want to be a bridge between blockchain-based systems, but also between directional acyclic graphs, ie to systems like IOTA or Byteball.
Under the term "Hive" the concept is summarized: Hcash is conceived as a sidechain, which will be connected with different blockchains and directional acyclic graphs. Since directional acyclic graphs do not have a confirmation time, Hcash is to be designed so that new blocks are added quasi instantaneously to the blockchain.
In addition to these features, there will be the possibility of completely anonymous transactions, similar to ZCash or Byteball. These address pairs consisting of public and private address (not to be confused with the public and private key) are later to be compatible with the systems of Zcash and Byteball so that Byteball and ZCash can be used directly in the Hcash system. In general, an anonymous transaction will be possible via a Zero Knowledge Proof, also known as Zk-SNARK.
Hcash has been created quantum-safe right from the start. The concern that emerging quantum computers allow hackers to find private keys has been articulated more often. In the context, it has often been mentioned that, in principle, an update to encryption algorithms, which can also hardly be deciphered for quantum computers, would be possible.
Governance is an important issue for crypto-currencies. The question arises as to how a decentralized project should be made, how decisions about its future are made. Bitcoin's scaling debate shows that problems can arise here. Systems such as DASH have therefore developed a system with regard to decentralized governance, in which important stakeholders of the network, more precisely the operators of master nodes, can determine the future of DASH.
Hcash thinks this approach further and lets each token holder (not just those with a large deposit) participate in the governance process. As soon as a decision is made in an election, the corresponding protocol update is to be implemented instantaneously in the network - without the need for consent from large mining farms.
In addition to the Proof-of-Stake consensus, investors in the ICO do not have too much power and the money is not concentrated by staking rewards (the counterpart to mining rewards in the Proof-of-Stake consensus) Proof-of-work consensus.
Finally, a DAO in the Hcash system is to be worked into, which should go to 5% of the coins. Tokenholders can vote on these for which projects the money is to be used.
Currently, this blockchain is not yet ready, so users can not have a Hcash yet. As a guarantee for a certain amount, Hshares have been sold under the ICO. These tokens stand for ownership claims in the upcoming Hcash blockchain, which can be exchanged at different times in Hcash via different sources.
The idea and the approach are exciting. But there are some details that leave the viewer skeptical. If we ignore the spelling errors in the white paper, it is a pity that some factual errors have settled. Other sounds like it's taken from a textbook.
In addition, it is a bit of a surprise that for the announcement, no thread was opened on Bitcointalk, but a little bit was released on Binance. Binance is also the Exchange, which accounts for almost 20% of trading volume.
Hcash seem to be traded on the smaller exchanges - besides binance and CHBTC, two major Exchanges, ABWang, DABTC, Allcoin and TRadeSatoshi.
The source code is already available via Github.
If you want to know more about the project, please refer to their Website, their White Paper and on Github.
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I wish you all a lovely Thursday!!!
Best regards
@danyelk
Great Article. Keep up the good work.
Upvoted
Thanks :)
Great post...in depth overview of what is going on.
Gave you a follow.
Thanks and your welcome :)
hshare looks promising
yes it is looking interesting for sure
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