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CEO: Dash (DASH) To Survive Crypto Winter, “Not At Risk of Shutdown”

Dash (DASH) “Not At Risk Of Shutdown” In Crypto Collapse

In 2018’s crypto bear market, Dash Core Group (DCG), the consortium behind the DASH altcoin, has seemingly gone silent on a public stage, with there being little-to-zero propagation of news regarding the once much-hyped project. And as such, some skeptics have deemed the project “dead.” Yet, in a recent Medium post, Ryan Taylor, CEO of DCG, exclaimed that his startup is “sustainable” and will survive the crash in Bitcoin (BTC) prices.

In the post, which can only be deemed a ‘wall of text’, Taylor first gave some context to crypto’s recent collapse, calling out the Bitcoin Cash debacle (he called it “FUD”) as a key catalyst. The DCG chief then noted that there a number of startups likely “shutting down quietly, running on fumes, or burning through distressed ICO funds,” before adding that his firm doesn’t fall into this unfortunate category.

Taylor exclaimed that DCG “is not at risk of shutting down anytime soon,” nor has fears of laying off a substantial amount of staff, due to a “significant [capital/fiat] buffer” it has built up for itself to account for crypto’s enamorment with parabolic swings and killer drawdowns. Through the following paragraphs, which were countless, the DASH proponent accentuated the logistics of DCG’s buffer, along with its operations so far and ambitions for the future. And while the topics covered varied wildly, an underlying theme of perseverance and survival was evidently referenced throughout Taylor’s post.

Even in tweets prior to the aforementioned blog, Taylor outlined why Dash’s ecosystem continues to boom. The industry savant drew attention to a number of developments, including booming DASH wallet download statistics, strong trading volume, and a recent successful network stress test. Keeping this all in mind, the prominent cryptocurrency advocate, concluding his comments on the matter, wrote:

In short, the network keeps growing despite the price declines and the reduced speculation. Proud to see the strategy working on the metrics that determine long-term success. Heads down… we are getting there!

At the time of writing, DASH is up to $77.15 U.S. dollars a piece, with the asset posting a jaw-dropping 11.5% in the past 24 hours.

Not All Crypto Startups Have Survived The Massacre

While DCG seems slated to survive, or even thrive in the ~85% market decline, not all startups and prominent upstarts in this ecosystem have been all too lucky.

As reported by Ethereum World News previously, ETCDEV, an essential player in the Ethereum Classic ecosystem, announced its closure on December 3rd, 2018. Through a tweet, Igor Artamonov, the founder and chief technology officer of the prominent development consortium, wrote:

Although the ETCDEV executive cited a lack of sustainable financing, this message comes just days after Artamonov released a Medium article lambasting one of his peers for being a “Trojan Horse” for another team. Regardless, the fact of the matter is that Ethereum Classic (ETC) remains heavily wounded after this occurrence, as the project lost its primary development team.

The sad collapse of ETCDEV comes just days after Steemit, the company behind the (somewhat) decentralized social media platform that shares its name, revealed it was undergoing a business reorganization, purging 70% of its employees.

Per previous reports from Ethereum World News, Ned Scott, CEO of Steemit, said on the matter:

“While we were building up our team over the last months, we had been relying on projections of basically a higher bottom for the market… Since that’s no longer there we’ve been forced to lay off more than 70% of our organization.”

He explained that as Steemit’s top brass met, amid worsening market conditions, it became logical that a staff restructuring at the private startup was necessary. Interestingly, Scott failed to divulge an exact headcount pre- and post-purge, making it difficult to discern how many were affected.

SpankChain, an adult entertainment platform centered around blockchain, recently saw its CEO take to Reddit to announce that it, as well as Steemit, had downsized drastically. The project head noted that the SpankChain project now hires a mere eight individuals, and has reduced its burn rate from $200,000 to $80,000 per month.

Title Image Courtesy of Ryan Graybill on Unsplash

The post CEO: Dash (DASH) To Survive Crypto Winter, “Not At Risk of Shutdown” appeared first on Ethereum World News.

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Here Is How Bitcoin (BTC), ETH, XRP, LTC and more Would Look Like If They Were Cold Hard Cash

It is said that old habits are hard to break. Many of us are so used to the concept of carrying cold hard cash in our wallets, handbags and pockets that the concept of cryptocurrencies takes a while to fathom. For the proverbial newbie, it takes a while to grasp blockchain technology and cryptography. Then comes the task of blending the two concepts to create our favorite coins of Bitcoin (BTC), Ethereum (ETH), XRP and more.

So let us explore how our favorite cryptocurrencies would look like if they were cold hard cash.

1. Bitcoin (BTC)

Created in 2009 by the anonymous Satoshi Nakamoto, many of us did not get to consider Bitcoin (BTC) as an investment option up until mid last year when mainstream media was all over the place talking about it. To note is the golden color scheme of the note that correlates to how BTC is viewed as the digital gold of our times.

2. Ethereum (ETH)

Founded by Vitalik Buterin in 2015, the Ethereum (ETH) coin and platform has introduced us to Decentralized Applications and ICOs that have been made possible through the smart contract capability of the network. The name Ethereum was derived from the word ‘ether’ which refers to the hypothetical invisible medium that permeates the universe and allows light to travel.

3. XRP (XRP)

XRP was introduced to the cryptoverse in 2012 by Chris Larsen and Jed McCaleb. The digital asset was once referred to as Ripple due to the fact that it was created to power the Ripple ledger. But due to 3 pending lawsuits and SEC scrutiny, the Ripple company has decided to clarify that the two entities are entirely different. This design of its paper currency could then be a collectors edition.

4. Litecoin (LTC)

Sometimes referred to as ‘the little brother’ of Bitcoin, Litecoin (LTC) was created by Charlie Lee in 2011 to be a lighter and more efficient version of the King of Crypto. LTC is intended for smaller payments and faster transactions. The Litecoin Foundation has recently acquired a stake at Germany’s WEB Bank further pushing the possibility of LTC supported debit cards.

5. IOTA (MIOTA)

The IOTA Tangle plans on revolutionizing the Internet of Things as well as transactions on the blockchain since it has zero fees. IOTA was founded in 2015 by David Sonstebo, Sergey Ivancheglo, Dominik Schiener and Dr. Serguei Popov for the sole purpose of making IOTA the currency for the Internet of things.

6. Monero (XMR)

Founded in 2014 by a programmer with the online name of thankful_for_today – best known by the pseudonym Nicolas Van Saberhagen – Monero (XMR) has become the fan favorite for crypto-enthusiasts who value anonymity. It uses what is known as ring signatures to keep sender and recipient identities anonymous during a transaction. It has received some flack from governments who accuse it of being used for criminal activities. But privacy is a right in the many constitutions around the world.

7. Dash (DASH)

Dash is short for Digital Cash. The digital asset has faster transaction speeds and anonymity. It was created in 2014 by Evan Duffield.

8. Dogecoin (DOGE)

Dogecoin (DOGE) started off as ‘an internet joke’ and has gained mainstream popularity and acceptance. The coin has its roots in the ‘Doge’ Internet meme and has the Shiba Inu breed of dog as its mascot. Developed in 2013 by programmer Billy Markus and marketer Jackson Palmer, DOGE has appealed to a lot of crypto-enthusiasts and is primarily used for tipping on the internet.

9. Stellar (XLM) 

Developed in 2014 by Jed McCaleb and Joyce Kim, the Stellar foundation is run as a non-profit and aims at connecting banks, payment systems and people in a manner that accelerates the movement of money in a fast, reliable and cheap manner. One of its chief goals is to fight poverty and develop individual potential around the world.

10. ZCash (ZEC)

Zcash was created in 2016 and is also known for its privacy characteristic. Users have two choices when making transactions: to use the public blockchain or to make the transaction anonymous. ZCash has been popularized by Edward Snowden who admitted to being a user as well as the Winklevoss Twins who added ZEC to their Gemini exchange.

In conclusion, it is good to muse about the possibilities of our favorite digital assets being cold hard cash. The designs featured herein are a tip of the iceberg for the crypto-community is bound to come up with more wonderful designs that would probably undergo a voting process before any minting. This is due to the decentralized nature of the crypto-verse.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available

[All images courtesy of neomam.com]

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Today’s Impressive Gainers: Stellar (XLM), Ox (ZRX), DASH and Bitcoin Diamond (BCD)

The crypto-markets usually exhibit some sort of fatigue during the weekends that is usually evident through low trade volumes. Ethereum World News had put forth the idea just yesterday that Bitcoin (BTC) might face an uphill task as it attempted to maintain the gains it had achieved during the past week through the weekend. But the King of Crypto has stood its own in the crypto markets and is currently trading at $7,438 at the moment of writing this. The new BTC resistance level is between the ranges of $7,500 and $7,600. Hopefully with the new week, we will see levels of BTC that are close to $8,000.

With the stability of Bitcoin and its dominance at 45.2%, the total market cap of the crypto markets has also remained stable and is currently at $282.15 Billion. Whenever BTC is stable or is in an upward trajectory, the rest of the market also shows some gains. Below are four cryptocurrencies that have increased by impressive percentages in the last 24 hours.

Today’s impressive gainers. Source, Coinmarketcap.com

Beginning with Stellar (XLM), the coin has been in the spotlight for quite sometime now. Coinbase recently announced that it was exploring adding the digital asset to its platform together with Ox (ZRX), Basic Attention Token (BAT), ZCash (ZEC) and Cardano (ADA). XLM is also benefiting from the news that IBM will be launching a stable-coin on the Stellar blockchain. The coin also received Sharia-compliance only last week. It is no wonder that XLM is currently trading at $0.29 and up 7.58% in the last 24 hours.

DASH on the other hand is also up 4.42% in the last 24 hours and currently trading at $254 at the moment of writing this. Unbeknownst to many, DASH is one of the best privacy coins out there.

Ox (ZRX) is still basking in the news of Coinbase exploring adding the digital asset to its platform. ZRX is currently trading at $1.17 and up 6.69% in the last 24 hours.

The most impressive coin amongst the four, is Bitcoin Diamond (BCD) that is up 55.41% in the last 24 hours and currently trading at $3.46. The reason for this impressive rise of BCD is yet to be determined but the coin has been prone to numerous spikes this past month.

In conclusion, it is safe to say that BTC is going to be stable into the new week. This then means that alt-coins might have impressive gains of their own in the next 7 days as can be seen with the four that we have just highlighted above.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Verge (XVG), Zcash (ZEC), Dash (DASH) Now Integrated Into WooCommerce, WordPress

Verge (XVG) –The cryptocurrency adoption is one big thing that everyone is talking about. Ever since cryptocurrency started becoming a means of transaction, different observers have predicted that cryptocurrency would become a mainstream means of payment for e-commerce.

While this is being foreseen, there has been a slow materialization of this idea, which has the potential of making cryptocurrency widely accepted. The crypto community has pointed out that web commerce sites would be a strong driver of crypto adoption.

There seems to be a green light to the adoption of cryptocurrency in the e-commerce industry, Verge (XVG), Zcash (ZEC), Dash (DASH), among other coins are said to be integrated to WooCommerce, WordPress, and Easy Digital Downloads. The adoption is made possible through MyCryptoCheckout, a crypto gateway that allows users to receive cryptocurrency payment directly into the wallet of your choice.

Cees van Dam, one of Verge’s core team member tweeted: “Looking for a way to enable a cryptocurrency payment gateway for WordPress, WooCommerce, and Easy Digital Downloads. http://mycryptocheckout.com, just added #XVG to enable this. Plugins can be found at http://wordpress.org/plugins/mycryptocheckout/”

The cryptocurrency gateway, MyCryptoCheckout, comes with 0% transaction fees and unlimited transactions for a flat fee, also has over 45+ coins including Bitcoin (BTC), Bitcoin Cash BCH, Bitcoin Gold (BTG), ColossusXT (COLX), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) among others.

For sometimes, Verge has been receiving series of partnerships and integrations. Yesterday, Ethereum World News made known that Verge is planning to introduce series of ideas as reflected in its updated roadmap. The coin has declared that come 2019, it will introduce an anonymous mobile transaction over the I2P network with its android wallet.

In the same line, the introduction of RSK Smart Contract is 25% complete. While RingCT Integration, a system that does an advanced masking of transaction amounts is 35% closer to integration.

Lastly, Europe’s Cannabis Company, Royal Queen, declared that it now accepts Verge. There is one thing to note about Verge, the cryptocurrency keeps on receiving series of partnerships. The change era began for Verge when it announced a partnership with PornHub, an adult site with wide tentacles and millions of daily users.

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Bitcoin Continues to Tumble – Fourth Price Slide in as Many Days, Down 18 Percent in Seven Days

It appears Bitcoin’s troubles are far from the over. The number one cryptocurrency has been enduring a difficult few days. BTC has so far declined by almost 18 percent in the last seven days.

Bitcoin Falls Below $6,500

BTC slipped further on June 13, falling below the $6,500 mark. This latest pullback follows the significant drop over the weekend that saw it lose 10 percent in a matter of hours on June 10. Bitcoin is currently at its lowest price level since April is trading at $6,450 according to CoinMarketCap. The number cryptocurrency has experienced four sharp price drops within mere hours since June 10. This bear run has seen BTC dip by more than 50 percent since the start of 2018.

Reasons for the Decline

In the immediate aftermath of the initial price drop on June 10, mainstream media sources claimed the dip was due to the Coinraill hack. The coincidental timing between the price decline and the announcement of the hack on the South Korea-based exchange platform likely led to those conclusions. However, such notions have since been debunked. To begin with, BTC wasn’t stolen in the Coinrail hack. Secondly, the platform doesn’t rank among one of the top exchanges in the market. Thus, it is unlikely that the $42 million hack had much to do with the recent price drop.

According to Mati Greenspan on eToro, the reduction in prices currently seen in the market is most likely due to a market correction, saying:

The narrative that such a small hack caused such a large price reaction has definitely been overplayed.

Some commentators also identified price manipulation as the probable cause of the BTC price decline. Recently, the U.S. Department of Justice (DOJ) opened investigations into alleged shady trading practices in the Bitcoin market. The DOJ in collaboration with the Commodity Futures Trading Commission (CFTC) is investigating allegations of spoofing and wash trading in the cryptocurrency market. The U.S. government recently demanded that four major crypto exchange platforms hand over information on their operations.

Cryptocurrency Market is Bleeding

Bitcoin isn’t the only cryptocurrency facing significant price troubles at the moment. Ethereum, the second-ranked cryptocurrency has gone below the $500 mark and is now trading at $475. EOS continues its spectacular fall – failure to reach voting consensus is delaying mainnet launch, and the price is in free-fall. EOS has maintained double-digit percentage losses over the past four days. It has declined 40 percent in the last one week.

Litecoin and Dash are two other cryptocurrencies that are having a rough time of it. Litecoin, the sixth-ranked coin is currently trading below $100, its lowest price level since mid-December 2017. As for Dash, it has been in free-fall since the start of the year, losing 300 percent in the process – reaching a one-year low.

How low will BTC prices fall due to the present bear run? Is this the end for Bitcoin or is there any rebound on the horizon? Keep the conversation going in the comment section below.

Image courtesy of CoinMarketCap.

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Verge (XVG) Team Working On Software Patch and New Wallet

No software program or project is ever 100% secure. Even the best of the best cryptocurrency projects have bug bounty programs where they encourage the software community to attempt to find security vulnerabilities in their code in a bid to make them more secure. And when one such vulnerability is found, the creators usually offer a patch to the software as the Verge (XVG) team is doing, and also give a reward to whomever found the vulnerability in the code.

In a tweet yesterday, Kris Chase, a member of the Marketing and Operations at XVG was keen to communicate that their key developer, and sometimes the face of the project, Justin Vendetta, was currently working on a software patch for the current issue with timestamps on blocks that allows hackers to print XVG coins from thin air. Kris Chase had this to say:

#VergeFam – We’ve heard your voice. @justinvendetta is currently in #beastmode & working on the patch. Thank you for your patience. We will update accordingly as we know more.

Also to note and with respect to the XVG project, is that the team is also working on a new wallet design as noted by Kris once again via twitter:

#VergeFam Seeing the wallet come together gets me pretty excited. I’ve personally been looking forward to the Wallet revamp for quite some time. I think you guys are going to love the final result! — Great work gentlemen!

With respect to the new wallet, the team is keen to note that the User interface has been improved with animations as well as a modified transaction list.

Backpedaling a bit on the hack and projects that have bug bounty programs, we find that both Ripple (XRP) and Dash (DASH) have bug bounty programs. Both projects appreciate the finding of bugs that include exploits, vulnerabilities and information about ongoing attacks against each of their software.

The Ripple bug bounty program has a lot of information on their website on how to go about this. Anyone who is willing to assist their project, can go ahead and have a crack at their software.

The same applies to Dash who have Jim Bursh spearheading the bug bounty project.

Perhaps it is time the XVG team came up with one of their own bug bounty programs to offset any other malicious attacks in the future.

The post Verge (XVG) Team Working On Software Patch and New Wallet appeared first on Ethereum World News.

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Dash Introduces Three Improvement Proposals Ahead of Masternode Lists

The peer-to-peer cryptocurrency that focuses on the payments industry tagged “Digital Cash You Can Spend Anywhere” is taking lead with the introduction of three main improvements while it is yet to release the Deterministic Masternode Lists.

The three proposed improvements according to a post it released on its medium page includes;

DIP2 — Special Transactions

DIP3 — Deterministic Masternode Lists

DIP4 — Simplified Verification of Deterministic Masternode Lists

The release stated that DIP2, DIP3, DIP4, which are major instalments would be implemented and deployed following the release of the 12.3: Deterministic Masternode Lists.

While DIP2 & DIP3 will be used to “introduce new transaction structures” and other types which grant network the ability “to register and update masternodes on-chain,” DIP4 introduces a technique for “SPV clients to retrieve and verify the full masternode list”.

Deterministic Masternode Lists

The Deterministic masternode lists is a new system proposed by DASH development team to enhance operations. They are masternode lists that are derived completely from on-chain data.

The masternode lists is designed in such a way that if implemented, it will surely have effects on masternode owners and operators.

Benefit Of The Deterministic Masternodes System

While the previous technique known as MNO limits owners and operators from getting masternode rewards, and the problem of updating masternode, in the new system, masternode creation is done “by sending a special transaction (ProRegTx) to the network”. This makes the mining of transactions easy, and masternode will be added to the masternode list. Therefore, transactions (ProUpRegTx, ProUpServTx) can be used to update the metadata of the masternode.

Implementation And Deployment Of The Deterministic Masternodes System.

The Core developers at DASH Foundation are working really hard to make sure the implementation of the new system will be timely initiated as it is already underway. The developers, according to the release, have tested and implemented DIP2, DIP3 and DIP4 for operation and the functionality seems to be “running in a stable state in one of our devnets”.

While the introduction of the new system into Dash ecosystem requires the restructuring of many things and multi-stage deployment, the developers aired that the deployment details will be disclosed in a subsequent blog post.

For now, DASH may not be a household name in the Cryptocurrency world, but the altcoin is aiming to be more formidable than expected in the industry with sundry of developments.

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Today’s Double Digit Gainers: EOS, Bitcoin Cash (BCH), DASH And Tron (TRX)

Once again, and for another week, the crypto markets are showing resilience and vigor. All this action was catalyzed by the $1,000 pump by Bitcoin (BTC) back on the 12th of April. What can be concluded is that the markets have completed the down cycle and are now firing on all cylinders in the upward direction.

Today’s market action puts four prominent coins and tokens as double digit gainers. They include: EOS (EOS), Bitcoin Cash (BCH), Dash (DASH) and Tron (TRX).

EOS (EOS) has been doing well since the project launched EOSIO Dawn 3.0 almost 3 weeks ago and on the 5th of April. This is a Testnet version of the final Mainnet version of EOSIO 1.0 that will be released some time in June this year.  The second version of the Testnet network had only been released 4 months earlier and the constant updates and releases have been proven to be fueling EOS’ value in the market.

Currency market analysis shows EOS to being valued at $13.50 and doing 16.37% gains in 24 hours: the highest gainer in the bunch.

Bitcoin Cash (BCH) on the other hand is a few decimals points shy of doing 10% gains in 24 hours. Current market analysis puts BCH at a value of $1,522 and up 9.79% in the last day. The case for Bitcoin Cash is still strong in terms of being faster than Bitcoin, less congested and having a strong community backing its adoption and mining operations.

DASH has also being doing wonders  in the markets and in a silent manner. Current market analysis puts the privacy coin at a value of $524 and doing 11.36% in 24 hours. The Dash project has been ran as a non-profit and could be why there is not a lot of buzz surrounding the coin. What has happened instead, is that the project has grown tremendously with over 4,000 nodes since its launch in 2014.

Tron (TRX) has also been on the lips of many Crypto-traders due to the current project developments and updates by Justin Sun and the Tron Foundation. There were news that Tron will open new offices in Taiwan. Also to note, is the anticipated MainNet launch at the end of May and TRX token migration on June 21st.

TRX is currently valued at $0.0598 at coinmarketcap.com and doing 11.77% gains in 24 hours.