After Tripling in a Week Stellar Rockets into the Cryptocurrency Top 10

2018 is still in diapers and yet the cryptocurrency top 10 is already looking very different to last year. Gone are the likes of dash, replaced by coins that have never reached these heady heights before: tron and stellar. The latter peaked at number six this week after tripling in value in seven days from a low of 32 cents. Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

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From a Ripple to a Rocket

Stellar is described is an open-source project with a “distributed, hybrid blockchain”. It “exists to facilitate cross-asset transfers of value, including payments. The Stellar Network forms “an open, global financial network where all actors – be they people, payment networks, or banks – have equal access”. If that sounds a lot like Ripple, that’s because it is: Stellar is Ripple’s sibling, having been created by Ripple cofounder Jed McCaleb after he left the company. McCaleb is also famous for having sold Mt Gox to Mark Karpeles in 2011. Stellar was initially a fork of the Ripple protocol, before later being extensively rewritten.

Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

Lumens (XLM) are the currency that power the Stellar Network, which boasts transaction times of under five seconds. The network has a fixed inflation rate of 1% per year. Like Ripple, Stellar’s targets are financial institutions and corporations, and the company has already inked deals with IBM and Deloitte; the latter is classified as a partner. Stellar’s goal, like that of many cryptocurrencies, is to become the web’s go-to payment solution. Low fees and fast transaction times are its two biggest claims, although the same can be said of many altcoins.

Billions of Lumens Shining Bright

In 2017, 29 cryptocurrencies exceeded bitcoin’s 1,600% gains, and stellar was one of them. Its value has grown an astonishing 28,000% in the space of a year. In the past 24 hours, $800 million lumens were traded on exchanges. The token reached an all-time high of 90 cents this week and is currently trading for around 75 cents.

Stellar Rockets Into the Cryptocurrency Top 10 After Tripling in a WeekSome commenters see Ripple and Stellar as locked in a battle for supremacy, enacting their own version of Bitcoin Core vs Bitcoin Cash. Given the similarities between Ripple and Stellar, including their shared codebase, people, and target audience, these comparisons are inevitable. In terms of developing relationships with banks and other financial institutions, Ripple is streets ahead, but Stellar has the upper hand in other areas.

For one thing, it’s not hoarding 60% of the total supply to itself. Ripple, on the other hand, still holds 55 billion XRP. The total number of coins in existence on each network is very similar though, standing at 100 billion ripple and 103 billion stellar. 17.8 billion stellar are in circulation right now, two billion of which were awarded to Stripe in 2014 in exchange for a $3 million loan. If Stripe still has them, those lumens are now worth billions.

Despite Stellar’s interstellar ascent, not everyone is convinced by the cryptocurrency.

Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

How Centralized is Stellar?

Like Ripple, Stellar usesstellar-1068x1068ich have close ties to Stellar. As a consequence, stellar is not a true decentralized currency. Generally speaking, the closer a cryptocurrency is aligned with institutional investors, the more centralized it is by design. For what it is worth, Stellar is at least less centralized than Ripple.

It is debatable whether Stellar is worth its $13 billion market cap, but then the same could be said of many cryptocurrencies lurking in the top 10, including Ripple, Tron, and Cardano. In an irrational market, assets are worth whatever the next buyer’s willing to pay for them, and right now that figure is higher than the one before. If Ripple can become a $3 coin, there’s no reason why Stellar can’t continue on its rocket ride to infinity and beyond. After months of bitcoin dominance, altcoin season has returned, and it’s the penny stocks of the crypto world that are shining the brightest.

Which project do you prefer – Stellar or Ripple? Let us know in the comments section below.

Bitcoin Cash Markets Remain Resilient As the Network’s Upgrade Approaches

It’s been a crazy week for cryptocurrency enthusiasts as the digital asset ecosystem is still reeling over the canceled Segwit2x fork that was expected to take place on the Bitcoin network next week. Over the course of the past few weeks leading up to the planned 2MB Segwit2x hard fork, Bitcoin Cash (BCH) markets have doubled in value after hovering around $300 per BCH for weeks. Now the market has stabilized around the $625 region as the BCH network participants prepare for their own fork that’s just four days away.

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Bitcoin Cash Network and Markets Remain Vigilant After the Canceled BTC Fork Event

Bitcoin Cash Markets Remain Resilient As the Network's Upgrade ApproachesThe Bitcoin Cash network is thriving as the decentralized currency’s value has spiked quite a bit over the past few weeks. At the moment the price per BCH is hovering around $625 as markets currently command roughly $830M worth of daily trade volume. The price of BCH has allowed it to hold the third highest market capitalization at $10.4B just below the ethereum market cap. BCH markets are still seeing lots of trade volume from the South Korean won, as the currency typically captures around 49 percent or more of the daily volumes. The exchange rate stemming from BCH currently makes it the third highest digital asset trade volume within the cryptocurrency landscape. The exchanges trading the most BCH include Bithumb, Hitbtc, Bitfinex, Bittrex, and Korbit.

Bitcoin Cash Markets Remain Resilient As the Network's Upgrade Approaches
Bitcoin Cash (BCH) markets are holding above $600 per token at the time of writing.

Miners Have Started to Signal Intent to Fork the BCH Network

As the currency’s network hard fork approaches, the BCH chain is 8100 blocks ahead of the BTC chain. BCH this week is operating at 8 percent of the current BTC difficulty, and it’s 3.4 percent more profitable to mine BTC. Mining profitability and its fluctuations may change after the BCH network reconfigures the Difficulty-Adjustment-Algorithm (DAA). BCH miners are now signaling their intent to activate the fork and the change is estimated to occur around 2 pm EDT depending on hashrate speed.

Bitcoin Cash Markets Remain Resilient As the Network's Upgrade Approaches

Bitpay Prepares Users for the Bitcoin Cash Consensus Change

Because the fork is drawing closer the Atlanta-based company, Bitpay, has announced to its wallet users its plans for the BCH hard fork. The firm explains that with any blockchain protocol change it must always ensure that customer funds will be safe.

“For the November Bitcoin Cash protocol change, Bitpay and Copay wallets will follow the bitcoin cash chain with the most accumulated difficulty — With current miner signaling, this means that our wallets will be compatible with the new rules activated by the bitcoin cash mining majority,” explains Bitpay.

We don’t currently have any reason to think that this hard fork will be contentious or will result in a blockchain split for bitcoin cash. Users can continue to receive and send bitcoin cash transactions from their wallets up to, during, and after the hard fork protocol change.

Kim Dotcom Asks His Fans Which Cryptocurrency Will Dominate — BTC or BCH?

Also this week the notorious Kim Dotcom started talking about bitcoin cash with his 671,000 followers. Dotcom asks his fans, “By 2021 which of these two is going to carry the larger volume of Internet payments?” With just 11 hours left remaining for the poll bitcoin (BTC) is leading by 64 percent and bitcoin cash (BCH) has 36 percent.

Overall the BCH community seems pleased with the currency’s growing ecosystem and many supporters believe next week’s fork will be smooth. With Segwit2x gone and the rest of the cryptocurrency competition constantly nipping at BTC’s heels many spectators will be focused on bitcoin cash.

What’s your thoughts on bitcoin cash at the moment? Do you think the hard fork approaching will be smooth? Let us know what you think in the comments below.

Nevada Senate Bill 398 Becomes Law, Prohibiting Tax on Blockchain Technology

Judging by recent legislation, which is mostly hostile towards blockchain technology, Senate Bill 398 in Nevada seems like an unprecedented step in a positive direction. SB398 prohibits taxation and regulations regarding the use and implementation of blockchain technology, and it was approved by Nevada governor Brian Sandoval. 

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The bill is meant to create an environment that is hospitable Nevada Senate Bill 398 Becomes Law, Prohibiting Tax on Blockchain Technologyrather than hostile to new technology startups, and it is the first one to recognize smart contracts as legitimate and binding.

The bill was filed by Ben Kieckhefer on March 20. It appears he did not want the State to follow in the footsteps of places like New York who have generated regulations that harm bitcoin and other blockchain-based companies. The politicians in Nevada overall want the blockchain and technology industry to grow and benefit their State.

A Minutes of the Senate Committee On Judiciary record document read, “The bill will help ensure the State keeps pace with technological advancements and provide a legal framework for people using a blockchain to not do so in a legal gray area.”

The bill includes the following legal requirements for county commissioners to follow:

A board of county commissioners shall not: 13 (a) Impose any tax or fee on the use of a blockchain by any 14 person or entity; 15 (b) Require any person or entity to obtain from the board of 16 county commissioners any certificate, license or permit to use a 17 blockchain; or 18 (c) Impose any other requirement relating to the use of a 19 blockchain by any person or entity.

Towards Blockchain Recognition and Acceptance…or not?

These type of bills that seem to be pro-blockchain may be a meaningful positive step toward creating more acceptance for cryptocurrencies. Seeing these kinds of bills are a nice change in tempo, because other bills have demonized crypto for contributing to money laundering schemes and other forms of crime.

For instance, in Florida, an appropriations committee recently Nevada Senate Bill 398 Becomes Law, Prohibiting Tax on Blockchain Technologypassed an anti-money laundering bill to target people who leverage bitcoin to hide finances. Also, Federal senate bill 1241 defines digital currencies as “monetary instruments,” and its intent is to target bitcoin exchanges to intercept criminal activity and undermine cryptocurrency freedom and neutrality.

Nonetheless, pieces of legislation that are bad and good for blockchain technology will continue to crop up in lockstep as politicians decide what is best for their constituency. In the end, crypto-enthusiasts can only hope for the disruptive technology to be shown in a positive light rather than be paraded alongside images of a dark criminal underworld, rife with its hackers and fraudsters and shysters and monsters.

Do you expect to see more anti-blockchain or more positive blockchain legislation in the future? Let us know in the comments below. 


Wyre Switches From High-Fee Bitcoin to Ethereum – Launches Payment Tool for Wechat and Facebook

Blockchain payments startup Wyre has announced the launch of a payment tool for Wechat and Facebook. Bitcoin.com spoke with CEO Michael Dunworth to find out more about Wyre Bot, which utilizes Wechat and Facebook Messenger for business invoicing.

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Wyre Bot Launched

WyreWyre Launches Chatbot Payment Tool for Wechat and Facebook offers cross-border payments to large scale enterprises and payment companies using open blockchain technologies. Currently operating in the US, China, and Brazil, the company began offering an API and a client dashboard to their customers in the spring of 2016. At the end of last year, Wyre raised $4.5 million in a series A round funding. The company also claims to have moved over $1 million in payments per day by the fall of last year, according to its website.

On Wednesday, May 24, Wyre announced:

We’ve built Wyre Bot — the first blockchain payments tool on Wechat and Facebook.

Wyre Launches Chatbot Payment Tool for Wechat and FacebookUsing the bot platform Recime, Wyre Bot was created for use across Wechat and Facebook to generate payment invoices as well as respond to customer support tickets via chat.

“Currently the bot’s focus is on the invoicing piece of the payment,” Dunworth told Bitcoin.com. “We’re just trying to tie the communication channel of Wechat into the westerners’ more used channels like email/Facebook,” he said, citing how this will reduce friction for businesses in China sending invoices.

Wyre Bot currently supports USD payments to China, a channel the company calls its core focus. “We’re going to be opening this up though in the near term and are already seeing some demand for new currencies,” Dunworth detailed. Additional currencies could include the Euro, British pound, Mexican peso, and Japanese yen.

Wyre Launches Chatbot Payment Tool for Wechat and FacebookFurthermore, more functionalities could be added to the bot in the future, such as the ability to execute payments directly in the bot and multi-invoicing in one request. Another expansion plan the company is considering is adding more social platforms such as Whatsapp, Slack, Line, and Viber.

How Wyre Bot Works

Wyre Launches Chatbot Payment Tool for Wechat and FacebookUsing a standard social chat window, the supplier first sends a message with the transaction details to Wyre Bot. The bot will then generate an invoice in a .pdf format which is emailed to both the supplier and the person paying the invoice.

Invoices are hashed, timestamped and stored on the Ethereum blockchain for fraud protection, according to Wednesday’s announcement. Dunworth explained to Bitcoin.com that this method is “a way for our clients to feel confident that the invoice they’re receiving was generated through our platform, instead of being from a spoofed email address that looks like it was generated by us,” adding that:

If the hash is on the chain, they can just search through it and see it there. It’s a SHA256 hash of the invoice they’re emailed.

Can’t Use Bitcoin at the Moment, but Maybe in the Future

Wyre Launches Chatbot Payment Tool for Wechat and FacebookThe CEO went on to describe why they made the switch from Bitcoin’s blockchain to Ethereum’s. The company would record these transactions on “the Bitcoin blockchain but it’s too expensive to do that,” he shared with Bitcoin.com.

The higher Bitcoin network fees restricted him from making hourly timestamps, which Dunworth said that his customers need. “So it’s either we put it on once per day,” he continued, “which means our customers can’t verify their invoice” as often, or “use a cheaper chain and do it hourly. So we opted for the latter.”

However, he hinted that in the future, Bitcoin’s blockchain may make a comeback, stating that:

RSK is super interesting and we could jump back over there if things become more cost effective.

What do you think of Wyre Bot? Let us know in the comments section below.

Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region

Bitcoin is surging in Japan in regards to popularity and trade volume, since the country legitimized the digital currency as a legal form of payment this past April. Now one of Japan’s largest discount airline providers Peach Aviation Ltd. has announced it will be the first Japanese service to accept bitcoin for airline tickets.

 

Japanese Airline Service Peach Aviation Will Soon be Accepting Bitcoin for Flights

Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region Headquartered in Osaka Japan, Peach Aviation is a well known Japanese air carrier service offering low-cost air travel since 2011. The company stated that bitcoin will be accepted for flights and services at some point towards the end of 2017. Peach said the recent law change regarding the digital currency had bolstered the business move. According to reports Peach also plans to introduce bitcoin to other partner companies and local governments.

“We want to encourage visitors from overseas, and the revitalization of Japan’s regions,” Shinichi Inoue, the founder and CEO of Peach explained. “This is a real first step in partnerships for Japan, and we are aiming for more company and service tie-ups.”

Bitcoin Fever Takes Hold in Japan

The news of Peach Aviation accepting bitcoin follows other merchants in the region accepting bitcoin like the company Bic Camera. Furthermore, the announcement comes at a time where Japanese bitcoin trade volumes and price spreads have been through the roof.

According to Charles Hayter of the bitcoin data and analysis website Cryptocompare at the moment in Japan, “USD-BTC markets are trading at $2100 whilst the JPY-BTC pair is trading at the equivalent of $2500.” Over the course of the past 32 hours, the decentralized currency has been trading at a 19 percent premium, and Hayter says it is due to “Bitcoin fever taking hold.”

Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region

The country has taken the spotlight in overall global BTC volume as Japanese volumes are 42-50% of trading with 132k BTC volume or $300 million per day, explains the Cryptocompare founder. Hayter describes the current trading environment in Japan stating;

The Japanese have caught the Bitcoin bug and inefficiencies across markets are being exposed. Irrational exuberance is taking hold as the Japanese stumble over each other to enter the Bitcoin market and drag up international prices.

Now Bitcoin Enthusiasts Can Fly to 22 Destinations Across Asia Using Bitcoin

The Japanese Peach Aviation will join other global airline services that accept bitcoin for flight tickets like the Latvian airline, Airbaltic, LOT Polish Airlines, and more. Alongside this, bitcoin businesses like Coincheck and Bitflyer aim to sign up thousands more Japanese merchants this summer. As bitcoin fever takes hold in the country, Japanese residents from the region and international travelers will be pleased to know they can fly to over 22 destinations across Asia utilizing bitcoin as a form of payment.

What do you think about Peach Aviation accepting bitcoin? What is your opinion about the Bitcoin fever taking place in Japan? Let us know what you think in the comments below.Screenshot_1

Account registration process at easypaypakistan

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1) Register Account Form

Open https://www.easypaypakistan.com/Register and write your Full name,  Valid Email Address, and a strong secure password. Then click the checkbox for Terms & Condition Agreement. After that click Submit button.

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