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  • Vitalik Buterin Stakes 3,200 ETH in Ethereum 2.0

    Vitalik Buterin Stakes 3,200 ETH in Ethereum 2.0

    Key highlights:

    • The Ethereum project is moving from Proof-of-Work to Proof-of-Stake
    • The Ethereum 2.0 deposit contract was launched recently
    • Ethereum co-founder Vitalik Buterin staked 3,200 ETH in the contract

    The second generation of Ethereum, also known as Ethereum 2.0, is currently in development. Ethereum is moving over to Proof-of-Stake in order to circumvent the downsides of Proof-of-Work consensus designs. Proof of Stake (PoS) saves more energy, provides better performance and doesn’t need expensive hardware and equipment.

    Vitalik Buterin commits 3,200 ETH to Ethereum 2.0

    The deposit contract address for Ethereum 2.0 was launched recently, and it allows users to stake their ETH in anticipation of Ethereum 2.0. The deposit contract address is making progress, and it includes over 49,000 ETH at the moment. EtherScan indicates that 3,200 ETH from the mentioned figure belongs to Vitalik Buterin, who is a co-founder of the Ethereum project. This contribution’s worth is around $1.45 million given current Ethereum prices.

    Buterin believes the deposit contract will attract more people over time. At the moment, a lot of ETH coins are in cold storage, and as soon as the coins’ owners trust Ethereum 2.0 and its security, more ETH will flow to the deposit contract address.

    The deposit contract requires 524,288 ETH to be staked by 16,384 validators. December 1 is the earliest date that the genesis of Ethereum 2.0 can start, but it will only represent Phase 0 Ethereum 2.0. Buterin’s contribution made positive headlines, and attracted more attention to the deposit contract.

    If we look back to the ETH sale in 2015, participation fluctuated heavily during the sale process. Deposit contract address represents the first step in moving from Proof-of-Work to Proof-of-Stake. It is an exciting transition, and if it is done successfully, Ethereum will be able to deliver a much better user experience in the future.

    Once 524,288 ETH are staked, the Beacon Chain will go live. The Beacon Chain is an entirely new blockchain that uses Proof-of-Stake, and supports the entirely new ecosystem of Ethereum 2.0 – to use an analogy, the Beacon Chain will be the spine of Ethereum 2.0.

    Developers started Medalla, the final public testnet for Ethereum 2.0, in August. and there are no other testnets until Ethereum 2 launch. This multi-client testnet is an environment for testing operations of Phase 0.

  • CoinCheckup Receives Major Upgrade – Highly Accurate Crypto Prices, Customizable Frontpage, Better Mobile Experience and More

    CoinCheckup Receives Major Upgrade – Highly Accurate Crypto Prices, Customizable Frontpage, Better Mobile Experience and More

    We’ve Upgraded CoinCheckup!

    CoinCheckup has been around since 2017, and we’re glad so many of you have chosen our platform as your source of cryptocurrency information. The cryptocurrency markets move fast and websites like CoinCheckup need to be refreshed periodically to keep up with the times.

    Key Highlights:

    • We’ve just launched a major upgrade for CoinCheckup
    • You can now customize the frontpage and enjoy faster loading times
    • The crypto price charts are now more detailed and prices are more accurate
    • Mobile users will now have a much better experience

    For the past few months, we’ve been working on a number of improvements to take CoinCheckup to the next level, and we’re now ready to introduce them to our users as well. We’ve just launched a big upgrade to CoinCheckup that will make your experience on the site even better.

    Sleek layout

    The first thing you’ll notice is that the layout of the site has been changed – this will make it easier to access the most important information, and it also minimizes the amount of clutter that’s on the screen. The re-designed CoinCheckup website should also load significantly faster than the previous version.

    Now, you also have more options to customize the CoinCheckup frontpage. You can keep it the way it is, or choose to display more information across different time frames. For example, if you want to see a coin’s 24-hour, 7-day, 1-month and 3-month performance on the frontpage, you can now do so simultaneously.

    Example of a customized CoinCheckup frontpage

    More accurate crypto prices

    A feature that we’re sure many of you will appreciate is that CoinCheckup now has live prices, meaning that you no longer have to refresh the page to get the most up-to-date price information. When the price changes, the digit that has changed will either flash red or green, depending on the direction.

    Another new upgrade is that we’ve changed our data sources, which will result in more accurate price information. Prices are now also updated much more frequently, and this will make it easier for you to stay on top of all the action in the cryptocurrency market. In addition, the charts are now more detailed, allowing you to take a closer look at the performance of the cryptocurrencies listed on CoinCheckup.

    Our new crypto price charts offer a lot more detail

    Redesign for mobile devices

    We also did not forget about our mobile users, and made a bunch of improvements to the site which should result in a much better mobile experience. If you’re on mobile, go ahead and try it out – we think you’ll like it.

    CoinCheckup is now a lot friendlier to mobile devices

    Final thoughts

    When updating a platform like CoinCheckup, it’s important to keep in mind that our users already like the platform the way it is – otherwise, they would be using something else! That’s why we paid special attention to preserving the aspects of the site that users like the most, and focused on providing a faster and cleaner experience.

    Thank you for using CoinCheckup!

  • According to Bill Miller, all leading banks will have exposure to BTC

    According to Bill Miller, all leading banks will have exposure to BTC

    Key highlights:

    • Veteran investor Bill Miller says that banks will eventually have exposure to BTC
    • Miller revealed in 2017 that his MVP1 fund invested in BTC
    • Legendary macro investor Paul Tudor Jones is also a Bitcoin bull

    Veteran investor Bill Miller says that all leading banks and prominent investment firms will ultimately have exposure to BTC or a similar asset. He believes Bitcoin is here to stay, and is growing stronger and stronger. BTC’s fundamentals have attracted a lot of attention, and now people like Bill Miller are optimistic about it.

    Miller’s statements indicate his bullish position on BTC

    Many leading firms are exploring Bitcoin, which motivates other companies to follow the trend. After MicroStrategy announced its BTC investment, Square followed suit as well. And now, the well-known investor Bill Miller is optimistic about Bitcoin and says that it will be here to stay.

    Miller Value Partners was founded by Bill Miller, and he is the head of this organization at the moment. He is the manager of other famous organizations like Opportunity Equity. He is well-known for outperforming the S&P 500 from 1991 to 2005.

    He thinks that crypto is going to stay, and its risk is considerably lower than before. Miller considers Bitcoin as an asset with excellent performance, and he talks about the exciting process of demand and supply for BTC.

    Bitcoin’s supply is increasing by around 2.5% a year, but its demand is faster, and BTC’s supply will be limited to 21 million coins. Bitcoin has deflationary properties, and it also functions as a store of value. Due to Bitcoin’s scarcity, it is often labeled as digital gold.

    It isn’t the first time that Miller expressed interest in BTC. In 2017, he revealed that his MVP1 fund had made an investment in Bitcoin. Of course, Miller is not the only prominent fund manager who appreciates the future and fundamentals of BTC. Paul Tudor Jones also lately talked about Bitcoin’s massive potential, and he said that 2% of his portfolio is comprised of Bitcoin.

    MicroStrategy CEO Michael Saylor and macro investor Paul Tudor Jones consider investing in BTC like investing in early technology stocks. Early investors of Google and Facebook made a huge profit, and now, BTC could be in a similar position. Many people call Bitcoin the future of money, and BTC seems like a fascinating investment opportunity.

    Will all the banks finally eventually have exposure to Bitcoin? Tell us about your thoughts in the comment section.

  • Ready for Chaos? Swingby’s Chaos-Mainnet Launches on December 28th

    Ready for Chaos? Swingby’s Chaos-Mainnet Launches on December 28th

    Singapore, Singapore, 9th November, 2020, // ChainWire //

    Swingby is the “warp-speed” protocol for inter-blockchain swaps. It allows all DeFi users to move assets between blockchains without a trusted party. 

    Today, Swingby announces its first mainnet network will be released on the 28th of December; it will bridge native Bitcoins onto Ethereum via Wrapped BTC (WBTC).

    The initial bridge will enable the most liquid digital asset in the world (Bitcoin), currently valued at a $300 billion market cap, to be moved onto the Ethereum network to tap its $10b DeFi ecosystem.

    “This launch will be pivotal to Swingby. After December 28th, Swingby will have a fully operational Chaos-Mainnet network which will be generating a tremendous amount of value to the world of DeFi and bringing in a large number of new users” – Yusaku Senga, CEO

    Why is this big news for DeFi?

    On December 28th, Swingby will be launching its first Chaos-Mainnet bridge, allowing users to easily move their bitcoins into WBTC on Ethereum without the need for a trusted party. Similarly, the bridge can be used in the opposite direction allowing WBTC-ERC20 tokens to be moved back into native BTCs.

    What’s so special about it?

    1. Trustless: Swingby’s Skybridge will be the only way to trustlessly swap BTC into wrapped Bitcoin (WBTC).
    2. Simple to use: The Swingby bridge has been designed to work with standard transaction types removing the need for complex smart contract calls and allowing the bridge to work with any wallet.
    3. Community rewards: Users willing to provide liquidity and governance to the Swingby bridge will be rewarded a share of the fees for each swap processed.

    Discover the three core use cases of the Bitcoin to Ethereum bridge.

    More news is coming!

    Leading up to launch on December 28th, the team will be announcing some key partnerships with projects that have helped deliver the Chaos-Mainnet bridge and some additional venues that will be providing liquidity to the SWINGBY token.

    To help spread awareness of this event, which will change Swingby forever, the team will be hosting a series of Q&As and giveaways for our superhero community.

    About Swingby 

    Swingby Labs was launched in Singapore in 2018 by a group of crypto enthusiasts joining forces to make the tools to connect Bitcoin with other blockchains.

    Swingby’s protocol, Skybridge, builds trustless bridges between BTC, Ethereum, Binance Chain and other blockchains secured by a network of node groups that execute fast token swaps using ‘multi-party computing’ and layer 2 technology.

    Skybridge allows users to move Bitcoin tokens between the Bitcoin, Ethereum and Binance Chain blockchains without relying on a central custodian, opening up a whole world of DeFi capabilities such as liquidity pooling and DEX trading with easy to use UX.

    Swingby plans to launch its Ethereum MainNet on december 28th, bringing Bitcoin to an ecosystem which already has $10b in capital locked up in DeFi contracts. Building on exciting partnerships with projects such as Elrond, Waves and Kira Protocol, Swingby aims to expand its reach to other chains and projects, adding support where the most value can be added.

    The Skybridge testnet bridge has transacted over $14 Billion in testnet BTC capital between the Bitcoin and Binance Chain blockchains, and its decentralized technology has been fully battle tested in live high volume environments.

    Contacts

    Chief Executive Officer

    • Jacob Plaster
    • Swingby
    • jacob@swingby.network
  • Top 3 Coins to Watch – Week 46

    Top 3 Coins to Watch – Week 46

    As we make our way through Q4 2020, several cryptocurrency projects are making upgrades to their platforms and other changes that could arouse the interest of the broader cryptocurrency community. With all eyes on Bitcoin and Ethereum, this week’s selection of top 3 coins to watch aims to shine a light on some smaller market cap cryptocurrencies, which look set for some interesting price action.

    1. Bitcoin Cash (BCH) 

    Bitcoin Cash is a hard fork of the world’s largest cryptocurrency – Bitcoin. It started out on August 1, 2017 following a dispute regarding block size among Bitcoin developers. Bitcoin Cash supporters, led by Roger Ver, pushed for a larger block size limit in order to facilitate more transactions. Bitcoin Cash blockchain thus features an 8 MB block size and can handle up to 116 transactions per second (TPS).

    Buy/Sell BCH

    BCH Hard Fork Expected to take place on November 15

    Due to a disagreement among Bitcoin Cash developers regarding the allocation of BCH for future protocol development funding, Bitcoin Cash is expected to undergo a hard fork around November 15. Already in August, a group called Bitcoin Cash ABC (BCH ABC) proposed a protocol update, which includes a rule that 8% of mined BCH would be distributed to Bitcoin ABC developers in order to finance ongoing protocol development. However, Roger Ver and Bitcoin Cash Node (BCHN) were against this change, leading to the only possible solution to address the wishes of both sides – a hard-fork. It appears that Bitcoin Cash Node will prevail, though:

    “At the present time, over 70% of blocks are signalling for Bitcoin Cash Node while less than 1% are signalling for Bitcoin Cash ABC, so Bitcoin Cash Node looks like it will be the dominant chain by far.”

    BCH holders are advised to keep an eye on the developments around the hard-fork and move their coins to a personal wallet under their control, although some of the leading exchanges such as Binance, Huobi and OKEx have announced that their exchange wallets will support the chain fork. Kraken exchange announced that it will be supporting the Bitcoin Cash Node regardless of the outcome, but as far as Bitcoin Cash ABC is concerned, it will be supported only if hashpower on the ABC network is at least 10% of the hashpower on the Bitcoin Cash Node network. Definitely worth to follow the event, especially if you are already a holder of BCH.

    2. Stratis (STRAX) 

    Stratis is a blockchain environment and a cryptocurrency for enterprise users. With a focus on the financial industry, the project aims to offer its customers an easy way to build blockchain-based solutions. Stratis supports the native C# programming language, which is already widely used, and therefore acts as a simple bridge to blockchain technology.

    Buy/Sell STRAX

    Stratis Mainnet Release to take place on November 12

    The team behind the Stratis project has announced that their mainnet will finally be released on November 12. The updated and renamed STRAX Blockchain will include several new features, including support for the development and deployment of DeFi smart contracts. Even though the name of the project will stay the same, holders are required to swap their STRAT tokens for STRAX tokens, which will be the medium of exchange on the mainnet. Users must swap their tokens until November 12 at 9 AM GMT as STRAX tokens that remain unclaimed in this swap window will be irreversibly destroyed in October 2021. More information regarding the token swap can be found here.

    3. PChain (PI)

    PCHAIN is the world’s first native multichain system, which features the support for Ethereum Virtual Machine (EVM). It consists of one main chain and multiple derived chains and the consensus is reached based on the patented PDBFT algorithm, which has significantly reduced the cost of communication. The smart contracts of PCHAIN can be easily invoked with other non-native Tokens (BCH, ERC20).  Much like Stratis, third-party developers, including corporations and financial institutions, can build smart contract-enabled applications atop PChain.

    Buy/Sell PI

    First Monthly Token Burn Following the Successful Mainnet Update

    PChain’s team completed a successful Mainnet upgrade in October and is set to conduct its fourth monthly token burn. The burn, which will destroy 50 million PI tokens is scheduled to take place on November 15. After November’s burn, the team has 6 more to go, as they plan to continue burning the tokens, until destroy a total of 500 million tokens. Around 2.6% of the total supply is forever removed out of circulation during each burn. In addition, the team has just confirmed the launch of their mobile wallet application for iOS. Android users will sadly have to wait a bit longer, but PChain assures that the wallet will be made available for download in Google Play store soon as it is already being reviewed. Furthermore, Epoch 17 delegation and voting process is scheduled to end this week, with the vote results being publicly announced by November 10.

  • Spend Crypto on Amazon and Other Top E-Commerce Platforms with Shopping.io

    Spend Crypto on Amazon and Other Top E-Commerce Platforms with Shopping.io

    The adoption of digital assets is trending upwards, but cryptocurrency holders still can’t spend their coins at many of the most popular retail services. Whether it’s because of the volatility of cryptocurrencies or just the fact that the technology is still fresh, major platforms like Amazon, eBay and Walmart do not accept cryptocurrency for payments.

    Even though it’s possible that these companies could change their cryptocurrency policies in the future, Shopping.io is solving the problem for cryptocurrency holders right now. The Shopping.io platform allows users to shop at the largest e-commerce platforms with over 100 different cryptocurrencies.

    Cryptocurrency have plenty of reasons why they’d prefer to pay with digital assets and not with fiat currency. Cryptocurrencies function in a decentralized manner and can be sent to anyone across the globe in a 24/7 manner. Due to their decentralized design, transaction fees are often much lower than what users have to pay for using traditional payments systems.

    Shopping.io supports Amazon, eBay, Walmart and over 100 cryptocurrencies

    Users who want to shop at their favorite platforms with cryptocurrency now have an extremely convenient way of doing so. Setting up an account on Shopping.io only takes a minute – enter your email, set a password, and your good to go. Once you log in to your account, you can start searching for products on Amazon, eBay and Walmart. When you’re ready to purchase the item, you’ll be asked to provide your shipping information. Then, you’re ready to make your cryptocurrency payment!

    Shopping.io has integrated CoinPayments, one of the largest cryptocurrency payment processors in the world. Thanks to this integration, you can pay with over 100 different cryptocurrencies when buying products on Shopping.io. Thanks to the massive selection of supported coins, it’s not just about Bitcoin or Ethereum, but altcoin fans are covered as well.

    Now is a great time to be using Shopping.io

    Since cryptocurrencies offer low transaction fees, Shopping.io can save on credit card processing fees. This makes it possible for the platform to provide a better experience to its users, for example by offering free shipping from Amazon and eBay. Shipping.io users from the United States can accept to get their items delivered with 2 days, and they can take advantage of the standard 30-day refund and return policy.

    At the moment, users are able to create accounts for free and Shopping.io is also offering a 10% discount on all items, which will only be available for a limited time. Moving forward, users will have the option of choosing a Starter or Pro account, with the 10% discount being reserved for Pro users only.

    Shopping.io is working to upgrade its platform even further, and plans to introduce a number of new features. This will include a Shopping.io token, which will provide even bigger discounts of up to 15% to its holders. In the near future, Shopping.io will also add AliExpress as a supported retailer.

    Currently, the Shopping.io platform only ships items to the United States. 

    Learn more about Shopping.io:

  • Square Announces BTC Revenue Growth – Cash App Generated $1.63 Billion in BTC Revenues in Q3 2020

    Square Announces BTC Revenue Growth – Cash App Generated $1.63 Billion in BTC Revenues in Q3 2020

    Square made headlines in the cryptocurrency markets on Thursday as it announced that it recorded $1.63 billion in Bitcoin revenues through the Cash App in Q3 2020.

    According to Square’s data, the gross profit from Cash App’s Bitcoin feature for the period mentioned above was $32 million. Square introduced the BTC purchase service at the beginning of 2018, and the revenues from the service have added up to $3.4 billion until now.

    The third quarter of 2020 was a successful period for Square, and it sold $1.63 billion bitcoin throughout this period. This figure emphasizes advancement and development in the firm’s Bitcoin business. Square’s gross profit from BTC sales in this period was $32 million, which is 15 times more than the same period last year. Square’s BTC sales in the third quarter of 2020 comprises around 90% of the BTC sales since the launch of this service. Square revealed that Bitcoin activities in Cash App are growing, and customers are becoming more engaged with Bitcoin.

    Square attracted a lot of attention last month when it announced a $50 million investment in Bitcoin. This company believes in cryptocurrency and its essential role, seeing crypto as a way of participating in the global economy and monetary system. Square considers this investment a long-term investment, and the firm is confident about Bitcoin’s infrastructure and its future capabilities.

    BTC sales represent only a fraction of Square’s gross profit. For instance, the net income from selling Bitcoin in the second quarter of this year was $17 million, and it was just 2.84% of the gross profit. Throughout the third quarter of 2020, CashApp created $385 million in gross profits. CashApp transactions have increased dramatically during this year, and it has provided various products for the customers.

    Square noted that its 2020 CashApp redesign helped make CashApp users more likely to buy Bitcoin. The new version also introduced the option of buying and selling shares.

    Square’s report about its Bitcoin sales indicates considerable growth in Bitcoin adoption. Today, many people and businesses are using crypto, and the cryptocurrency ecosystem is making progress.

  • Breitling Taps Ethereum to Supply Digital Certificates for Its Luxury Watches

    Breitling Taps Ethereum to Supply Digital Certificates for Its Luxury Watches

    Switzerland-based Breitling is famous for its luxury watches. The prestigious company is cooperating with blockchain project Arianee to release a new type of certificate for its watches. Breitling now provides a unique digital code that verifies the source of its products.

    Arianee is utilizing ERC-721, an Ethereum standard for non-fungible tokens. Breitling uses this solution for its digital passport. It is a blockchain-based solution, and it helps Breitling guarantee the future of the passports and protect them against alteration and manipulation.

    When customers purchase a watch from Breitling, they will receive a card that can be scanned. Then, they can download a wallet from Arianee and install it on their smartphone. Everyone can add their watch to the wallet. Key information like serial number and the date of activation can be seen here – it`s a sort of digital guarantee.

    These kinds of certificates are useful when you want to sell your luxury watch. This feature helps you verify the validity of your watch, and prove to potential buyers that it is not a counterfeit. Every watch owner can change the certificate possession and transfer ownership to another person.

    Breitling can attach information during the time, and for instance, you can have the history of the watch’s repairs. This transparency is fantastic, and everyone can track the watch during its lifetime.

    The certificates are privacy-based, and information like email address, phone number, and other personal details won`t be released. The address of your wallet is the only thing that is attached to you.

    Breitling’s new certificates are just one of the use cases for non-fungible tokens, as they can enable many significant use cases in the industry. Dentsu Tracking is another organization that works with Breitling. This organization can help Breitling to trace its supply chain.

    Digital certificates mentioned in this article are a creative approach, and represent yet another use case for blockchain technology. Counterfeit products are always a risk, especially when it comes to luxury products, and this blockchain-based solution can help combat counterfeiting. Blockchain can revolutionize supply chain management and regulation, and it protects the products against manipulation and alteration.

    Many people see blockchain as a technology for Bitcoin, Ethereum, and other cryptocurrencies. However, blockchain has countless applications beyond just finance and money. Blockchain can and has been used in different fields like medical care, banking, agriculture, education, and many more.

  • 7% of Americans Have Bought Bitcoin, Study Shows

    7% of Americans Have Bought Bitcoin, Study Shows

    It is not news that the distribution of cryptocurrency around the world is not equal and some countries have more access to cryptocurrency or interest than others. Previous studies have suggested that the United States has the highest concentration of cryptocurrency users as well as services like cryptocurrency ATMs.

    However, a newly published study by Statista states that only 7% of Americans have purchased Bitcoin at any point in time. This means that cryptocurrency investments in the country can be classified as being in the ‘early stages’ of growth. 

    Americans, the Rest of the World and Cryptocurrency 

    It has been suggested that bitcoin is on its way to emerging as a new assets class, in the same vein as gold. While cryptocurrencies can function as legal tender in some situations, a majority of its current use leans towards it being used as an investment. This can be seen in the amount of institutional support being given to the industry and the new products available to maximize cryptocurrency investments such as margin trading and cryptocurrency-based loans. 

    However, some flaws have been pointed out in the methodology of the study. The list in question only features a handful of countries and not all the nations of the world. Countries featured include Japan, Germany, Spain, China, Nigeria, Vietnam, and South Africa. Notable cryptocurrency hubs like South Korea are excluded from this list and according to some, it leaves much to be desired. 

    “It’s a survey of select countries. It’s not a straight top to bottom survey. IE there are countries that belong on this list that are not listed,”

    Dan Tapiero, the co-founder of 10T Holdings.

    What Can be Done?

    As cryptocurrencies as a whole are seeking greater use from the public, it is imperative that various entry barriers be removed to achieve this goal. Certain countries, such as China and India, have restrictive laws that prevent widespread use of cryptocurrency. Furthermore, cryptocurrency exchanges often require strict know-your-customer procedures before accounts can be opened and transactions completed. 

    Then there is the distrust of cryptocurrency that often exists among the public. For many, cryptocurrency is still a novel concept that they do not feel comfortable putting their funds into and this further hinders adoption. However, increased visibility and proper crypto education can help to endear all cryptocurrencies, not just bitcoin, to the general public.  This, coupled with the emergence of crypto as the new asset class, will ultimately increased global adoption.