August 2018 Volume Rankings Report: ETC and Dash Top Ten

August 2018 Volume Rankings Report: ETC and DASH Top Ten

During August, the monthly volume posted by the majority of leading cryptocurrency markets continued to decline. Despite such, the ETC and Dash markets again defied the trend to post an increase in trade volume, with XRP also bucking the downward trend this month.

Also Read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

Top 5 Most Traded Cryptocurrency Markets Posts Month-Over-Month Decline in Volume

August 2018 Volume Rankings Report: ETC and DASH Top TenTrade volume for BTC pairings declined by 5.34% during August – falling from $131 billion USD last month to $124 billion during the last thirty days, according to Satoshi Pulse.

USDT saw the smallest volume fluctuation of the major cryptocurrency markets this month, with $82.9 billion worth of Tether changing hands during the last thirty days – a 3% drop in trading activity when compared with July.

ETH has maintained its position as the third most traded cryptocurrency, however, saw a drop from July’s $53 billion in thirty-day trade volume to post $45.75 billion for August. The nearly 14% drop marked the third consecutive month of declining volume for Ethereum.

EOS also posted its third consecutive month of declining volume, with August’s $18.1 billion down nearly 11.3% from July’s $20.4 billion.

Bitcoin Cash saw a drop in trading activity during August, dropping 31.3% from July’s $14.85 billion to post $10.2 billion in thirty-day volume.

ETC, XRP, and DASH Defy Downward Trend

August 2018 Volume Rankings Report: ETC and DASH Top TenOf the top ten most traded cryptocurrencies during August, ETC, XRP, and Dash were the only markets to post an increase in volume month-over-month.

Ethereum Classic climbed from eighth to sixth after experiencing an increase in thirty-day trading volume for the fourth month in a row – with August’s $7.9 billion comprising an approximately 18% increase over July’s $6.7 billion for ETC.

XRP has maintained its position as the 7th most traded cryptocurrency market, with August’s $7.8 billion comprising a 13% increase in trade volume over July’s $6.9 billion.

LTC experienced a slide back down to eighth after ranking sixth for two consecutive months after posting $7.14 billion in thirty-day trade volume – a 16.7% drop in trading activity when compared with July’s $8.57 billion.

Dash has continued to climb the rankings, with August’s $5.26 billion elevating Dash to ninth position and comprising a 5.2% month-over-month gain from the $5 billion in thirty that propelled DASH into the top ten most traded markets last month.

Despite posting a 9.1% drop in monthly trade volume, Qtum has crept back into the top ten most traded markets with $4 billion after dropping to 11th last month with $4.4 billion.

Many Leading Crypto Markets See Significant Volume Volatility

August 2018 Volume Rankings Report: ETC and DASH Top TenThe TRX Markets have continued to slide down the rankings, sitting at eleventh for August with $3.45 billion – a 36.7% drop from last month’s $5.45 billion. TRX was the sixth most traded cryptocurrency market during May, however, slid to ninth during June and July.

CKUSD has climbed from fourteenth to rank twelfth for August after posting $3.36 billion in monthly trade volume – a roughly 16% increase over July’s 2.9 billion.

ZEC posted among the strongest volume gains produced by a leading cryptocurrency market during August, with $2.9 billion worth of Zcash exchanging hands during the last thirty days – an approximately 35% increase over July’s $2.15 billion. ZEC ranked thirteenth for August, up from sixteenth last month.

Ontology saw the strongest percentage gain in trade volume of the leading crypto markets, with August’s $2.34 billion comprising a 41% increase over July’s $1.66 billion. The increase in trading activity has elevated ONT from the twentieth to the fourteenth most ranked cryptocurrency market by thirty-day trade volume.

XLM has maintained its position as the fifteenth most traded cryptocurrency, despite August’s $1.94 billion comprising a 15.65% drop from July’s $2.3 billion.

ADA and NEO Slide Significantly in Volume Rankings

August 2018 Volume Rankings Report: ETC and DASH Top TenADA saw a significant drop in trading activity during August, sliding from thirteenth in July to sixteenth this past month with $1.84 billion – a 40.65% drop from last month’s $3.1 billion.

NEO saw the largest drop in trade volume of the major cryptocurrency markets, sliding from twelfth to seventeenth after posting a thirty-day volume of $1.83 billion – a 46.2% drop from July’s $3.4 billion.

Do you think that the majority of the leading cryptocurrency markets will continue to posting declining volume month-over-month? Share your thoughts in the comments section below.


Images courtesy of Shutterstock


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The post August 2018 Volume Rankings Report: ETC and Dash Top Ten appeared first on Bitcoin News.


Source: bitcoin.com
August 2018 Volume Rankings Report: ETC and Dash Top Ten

Op Ed: DApps Can Increase Audience Engagement for Creators and Influencers

Op Ed: DApps Can Increase Audience Engagement for Creators and Influencers

Many of us are familiar with the term “DApp,” which stands for “decentralized application.”

Foundationally, a DApp is an application that runs using blockchain technology on a decentralized network of computers instead of on a central database.

Transactions via a DApp require the consensus of all users on the blockchain. For example, a financial transfer transacted via any DApp cannot be completed unless validated by all computers in the network, sometimes referred to in the blockchain environment as nodes. The funds will not be released and transferred until each node in the decentralized database has agreed upon the validity of the transaction.

DApps are open-sourced software that run on top of other immutable blockchain technologies like Ethereum, allowing for greater transparency in transactions. DApps, although a fairly new concept at this point must, in general, meet the following criteria:

DApps are open source. They are autonomously governed applications, with any changes decided by a consensus of users.

DApps are decentralized. “Decentralized” is the “D” in “DApps.” Records of the application’s transactions are stored on an immutable, public and decentralized blockchain, thus protecting it from the ordinary risks of a central database, like hacking and other types of fraud.

DApps must generate tokens. Validators of the blockchain should be incentivized by the rewarding of cryptographic tokens.

DApps generate tokens via a cryptographic algorithm. Tokens are created by a cryptographic algorithm, like a pProof of wWork (PoW), the algorithm for Bitcoin.

DApps, Meet Influencers. Influencers, Meet DApps

DApps are a wonderful means for social media influencers to interact with and engage their fans. Influencers are defined as social media contributors who have substantial followings, even running into the millions on networks like YouTube, Instagram, Twitter, Facebook and Snapchat. Traditionally, influencers have been tied to these applications as the only ways to interact with their communities.

Enter blockchain technology and DApps, which are introducing exciting new ways of evolving the ecosystem that is home to social authorities, followers, developers and brands.

Influencers, whose focus and energy goes into interacting with and creating content for their audience, often lack the resources and technical know-how to deepen their relationships with their communities. Blockchain technology can enable influencers and developers to come together and form mutually profitable partnerships by developing dedicated apps that enhance interactions between influencers and their followers.

Among those creating innovative platforms that empower influencers and bring greater creativity, flexibility and meaning to influencer-follower relationships are companies like BOOSTO, PATRON and Hunter Corp Records. These companies aim to shift authority away from social media platforms and digital distribution services, putting it back into the hands of artists and content creators.

It’s All About Trust: How DApps Can Benefit Content Creators and Developers

When content creators use traditional apps like Instagram, monetizing talent can become a complex balancing act. Sponsored posts, a tried and true method for creating income as an influencer, can make content come across as fake, causing followers to lose interest and disengage. It can be difficult to maintain the delicate balance between sponsored and organic posts. DApps reduce the need for sponsored content by eliminating middlemen, like advertisers, and enabling influencers to interact directly with their communities.

The transparency of DApps can be leveraged to allow content creators to provide performance-based services for followers, like coaching sessions or classes. Imagine a wild- or foraged- foods expert being able to easily offer online, or even in-person, classes on how to safely forage for mushrooms. No hosting service would be necessary for the livestream or webinar, since such a capability would be built into the specially developed DApp, specifically created by the wild- foods expert with a developer to meet her explicit needs.

DApps work because they provide a foundation of trust that allows for more direct contact between fans and influencers, influencer networks, and social media platforms. The use of tokens further eliminates the need for intermediaries like selling platforms, and allows profits to go directly to content creators and developers. Developers additionally benefit from this system as they can be paid per blockchain transaction.

Smart contracts also help to establish trust between brands and influencers. This makes it possible for them to safely enter into partnerships, and gives influencers even more ways to monetize their talents, like establishing their own online stores, where they can sell personalized services and products from brands they have partnered with.

Marketers and companies who have constantly had to grapple with the problem of determining which influencers are fraudulent and which are genuine now have a trustworthy ecosystem in which to operate and interact, thus opening up more opportunities for influencers to establish solid relationships with brands, and thereby create income.

Where Is This Relationship Going? The Future for DApps and Influencers

Blockchain technology and DApps are poised to revolutionize the influencer universe, creating relationships that are ultimately healthier, more transparent, and more profitable for content creators and developers. The future looks like a truly connected influencer environment in which all participants will thrive.

This article originally appeared on Bitcoin Magazine.


Source: bitcoinmagazine
Op Ed: DApps Can Increase Audience Engagement for Creators and Influencers

Navigating Cryptocurrency Exchanges: Experts Weigh In

dist18exchanges

Although one of the primary goals of Bitcoin is to create a currency that is borderless and decentralized, a recurring concern is the way (other than mining) that we are able to actually acquire it and other cryptocurrencies. Crypto exchanges became a necessary component of this equation, and they hold a huge influence over the crypto market worldwide.

At the San Francisco-based blockchain conference Distributed 2018, Ben El-Baz, Chief Strategy Officer at XDAEX, moderated a panel of experts and entrepreneurs involved in international cryptocurrency exchanges, using his own experience at a Hong Kong exchange to ask piercing questions.

Although the exchanges in question were centered in a wide range of areas, the discussion generally centered around the possible impacts of regulation, pros and cons of tokenized business models and user experience.

Tawanda Kembo is the CEO and founder of the crypto exchange Golix, based in Zimbabwe, which is currently one of the longest-running exchanges on the continent. Concerned by the hyperinflation in his country, Kembo founded Golix to try and solve the problem of crypto liquidity in Africa, and discussed some of the challenges and successes of this project.

Jesse Powell is the founder and CEO of Kraken, an exchange that deals heavily in the U.S. and the EU, and he provided insight into the world of more established crypto markets.

Maggie Hsu, part of the business development team at AirSwap, focused her discussion points on the possibilities of decentralized exchanges, as many central exchanges can hold disproportionate influence.

Each of these speakers brings a special focus to the topic of worldwide cryptocurrency exchanges, and their panel goes into great detail on a variety of topics. For the full discussion, and panels on a diverse range of topics in the blockchain and cryptocurrency space, visit Distributed’s YouTube channel.

This article originally appeared on Bitcoin Magazine.


Source: bitcoinmagazine
Navigating Cryptocurrency Exchanges: Experts Weigh In

Dogecoin [DOGE] spikes up by 22% with the launch of upcoming ‘Dogethereum’

The volatility in the cryptocurrency market continues since July 2018 when BTC fell below the $8,000 mark. The month of August has witnessed the market king’s turbulent history, wherein BTC continuously swung between $5,900 and $8,000. At the time of writing, BTC is trading at $6,927 with a market cap of $119 billion. Yesterday [29th […]
Source: bitcoinwarrior
Dogecoin [DOGE] spikes up by 22% with the launch of upcoming ‘Dogethereum’

Wormhole Developers Address Rumors Concerning Protocol Security

Wormhole Developers Address Rumors Concerning Protocol Security

On August 1 news.Bitcoin.com reported on the Wormhole project and the BCH burned to create Wormhole Cash (WHC) tokens. Since then there’s been a lot happening in the BCH environment, and Wormhole developers have felt the need to address the public with a statement concerning rumors spreading regarding the security of the protocol. The Wormhole creators “welcome any constructive suggestions,” but “find no real evidence” to the recent rumors.

Also read: How to Monitor the BCH Stress Test and Get Involved

Wormhole Developers Address Circulating Concerns and Rumors

Wormhole Developers Address Rumors Concerning Protocol SecurityOver the last few weeks as people within the BCH community discuss the upcoming protocol consensus changes a few rumors concerning the Wormhole project’s security model have been circulating. The Wormhole creators felt the need to address the public about the rumors being spread and “intend to clarify concerns about Wormhole protocol in order to stop the rumors with this statement.” Almost immediately within the blog post, the developers discuss how the Wormhole protocol is secured. The team explains that the Wormhole security is “guaranteed” due to the security of BCH network, traceability of Wormhole data as they are permanently stored in BCH transactions, a decentralized time-stamp service provided by BCH network, and “any data failed to follow Wormhole protocol won’t be parsed by Wormhole nodes.”             

The creators emphasize that Wormhole has everything it needs right now with the way BCH works today. Unsubstantiated rumors about consensus improvements favoring Wormhole is false says the team.

“Wormhole protocol does not rely on the implementation of pre-consensus and Wormhole nodes have been operating very well since its release,” the Wormhole developers explain.

The project assumes nothing related to pre-consensus. Of course, we will pay attention to modifications and improvements on BCH protocol to guarantee the synergy of Wormhole protocol.

Wormhole Developers Address Rumors Concerning Protocol Security
The security model of Wormhole protocol illustrated.

‘Patents, Inter-Block Time, and Other BCH Upgrades Not Relevant to Wormhole’

The developers also deny inter-block time being relevant to the conversation as far as Wormhole is concerned, and explain that Bitcoin Unlimited introduced the idea in 2017 well before Wormhole was launched. The statement also mentions BU’s lead developer Andrew Stone recently introduced OP_GROUP, but the plan didn’t get “widespread approval from BCH community.”

“In our opinion, a Token solution for BCH network is important and urgent to BCH’s ecosystem. After extensive research of existing Token solutions, we decided to use Omni protocol, a tested and mature Token solution — Hence, Wormhole protocol was born,” the statement details.    

The statement further discusses the rumors of patents and believes a “random” patent from 2017 is completely irrelevant to Wormhole. In the end, the team details how the WHC burn process works and emphasizes that no one has a corresponding private key to the special Bitcoin Cash address the Wormhole team has used.

“The leading 137-bit zeros in the hash value encoded in the burning address guarantees that Wormhole team possess no corresponding public/private key pair — The generation code of the burning address is demonstrated in the Github repository,” the Wormhole developers conclude. Read the full statement from the Wormhole devs here.

What do you think about the public statement from Wormhole developers concerning the rumors being spread about the protocol? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Wormhole, and the development team’s Medium post. 


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post Wormhole Developers Address Rumors Concerning Protocol Security appeared first on Bitcoin News.


Source: bitcoin.com
Wormhole Developers Address Rumors Concerning Protocol Security

Warren Buffett On CNBC: Stocks Still More More Attractive Than Bonds

CNBC’s Warren Edward Buffett, Berkshire Hathaway chairman and CEO, joins CNBC’s Becky Quick on his 88th birthday for an interivew – see excerpts from the video and transcript below. Q2 hedge fund letters, conference, scoops etc Warren Edward Buffett: Stocks More Attractive Than Bonds Transcript We’ll talk about whatever they’d like to argue about and […]
Source: bitcoinwarrior
Warren Buffett On CNBC: Stocks Still More More Attractive Than Bonds