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#Blockchain Markets Update: Consolidation Continues as Traders Wait for a Breakout

Markets Update: Crypto Consolidation Perseveres as Traders Wait for a Breakout

On Sunday, Jan. 27, a vast majority of cryptocurrency markets have seen sideways consolidation as prices have been following a narrow range for over a week. A few major digital asset markets have seen decent gains this week, but most crypto prices remain tight as traders await a strong breakout.

Also read: Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits

That Narrow Range

At the time of publication, the entire cryptocurrency economy is valued at $118.6 billion. Since our last markets update, the entire market cap has shaved a few billion and daily trade volume worldwide has decreased a hair. This Sunday’s trade volume for all 2,000+ digital assets is around $16.4 billion. The leading cryptocurrency by market capitalization, bitcoin core (BTC), is currently trading for $3,581. BTC’s market cap captures $62.6 billion right now and global trade volume is roughly $5.5 billion. Ripple (XRP) holds the second position as each token is being swapped for $0.30 and the coin has a market valuation of $12.7 billion – officially, at least.

Markets Update: Consolidation Continues as Traders Wait for a Breakout
Top 10 cryptocurrencies on Jan. 27, 2019.

Below ripple is ethereum (ETH), which is trading for $113 per coin and has a $11.8 billion market cap. Out of the top five market caps, ETH’s 4% weekly loss is the deepest cut of them all. Lastly eos (EOS) is trading for $2.39 per coin and holds the fifth largest market valuation this weekend. One notable mention is the cryptocurrency tron, which has jumped to seventh position and gained more than 25% over the last seven days.

Bitcoin Cash (BCH) Market Action

Moving on to bitcoin cash (BCH) markets and the currency is being traded for $123 at the time of writing. BCH markets are down 2.8% today and have an overall market valuation of around $2.17 billion. The top exchanges this Sunday swapping the most bitcoin cash are Lbank, P2pb2b, Fcoin, Hitbtc, and Binance. Ethereum trades are dominating BCH swaps today as ETH captures 53% of all trades over the last 24 hours. This is followed by USDT (24.8%), BTC (12.2%), KRW (3.5%), and USD (3.4%) with JPY and EUR trailing not too far behind. It’s worth noting the South Korean won has captured a lot more BCH volume in recent days. Bitcoin cash is the eighth most traded coin today by volume below XRP, and just above ZEC.

Markets Update: Consolidation Continues as Traders Wait for a Breakout
BCH/USD daily chart. Jan. 27, 2019.

BCH/USD Technical Indicators

Looking at the BCH/USD charts on Bitstamp, particularly the four-hour and daily, shows BCH bulls continue to fail at breaking overhead resistance. At the moment, RSI levels are much closer to oversold conditions (-34.61) and MACd is meandering downward showing a similar reading. Looking at the two Simple Moving Averages (SMA) indicate the same sentiment as the long-term 200 SMA is still well above the short-term 100 SMA. This says the path toward the least resistance is still favoring the bears.

Markets Update: Consolidation Continues as Traders Wait for a Breakout
BCH/USD 4-hour Jan. 27, 2019 at 7:40 p.m. EST.

Moving on, we can see small dumps breaking light foundations and Bollinger Bands are extremely coiled indicating a strong move will take place soon. In terms of an upward breakout scenario, BCH bulls need to push past overhead resistance around $175. Currently, order books show there is heavy resistance between the current vantage point and $150. On the backside, there’s a bunch of support up to the $110 range, and then from there, things begin to lighten.

Markets Update: Consolidation Continues as Traders Wait for a Breakout
BCH/USD 4-hour Bitstamp. Jan. 27, 2019.

Monotonous Markets Usually Mean Something Will Happen Soon

For traders, the tedium and lack of volatility continue. Both ETH and BTC shorts positions on Bitfinex and Bitmex are not particularly high this weekend and uncertainty is still in the air. On Jan. 25, during an interview, Fundstrat founder Tom Lee touched on his previous year-long prediction of BTC charging to $25K by the end of 2018.

Markets Update: Consolidation Continues as Traders Wait for a Breakout
Money flow in the last 24 hours. Sunday, Jan. 27, 2019.

Lee says it was a “huge disappointment” that it didn’t come to fruition and made note of the initial coin offering (ICO) space collapsing. The Fundstrat executive still wholeheartedly believes his $25K forecast was “actually a fair value for bitcoin.” For now, that prediction seems very far off for the many depressed traders missing the days when everything was bullish.

Where do you see the price of BCH, BTC and other coins heading from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Bitstamp, Coinlib.io, and Satoshi Pulse.


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The post Markets Update: Consolidation Continues as Traders Wait for a Breakout appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2HxXeRO Markets Update: Consolidation Continues as Traders Wait for a Breakout

#Blockchain 8 Food Delivery Sites That Accept Cryptocurrency

Food Delivery Sites That Will Take Your Digital Coins

Purchasing goods and services online with cryptocurrency is becoming increasingly popular. A growing number of takeaway platforms around the world are ready to accept your digital cash in exchange for a tasty meal, be it a pizza, burger or vegan dish.

Also read: 8 Crypto Debit Cards You Can Use Around the World Right Now

Get Pizza for Bitcoin

With pizza being among the first items purchased with bitcoin, it only seems fitting that we should start with a pizza delivery portal that accepts cryptocurrency. Pizzaforcoins is a service based in California where you can order from major chains such as Domino’s, Pizza Hut or Papa John’s.

Enter your address and the system will endeavor to find the nearest restaurants in your neighborhood. Then you’ll be prompted to choose a store and select one of two options – have the pizza delivered to your door or pick it up at the location.

8 Food Delivery Sites That Accept Cryptocurrency

The platform relays your order to the restaurant, once the payment is received, with available meals priced in BTC. Pizzaforcoins claims it accepts over 50 other cryptocurrencies through an integration with Shapeshift.

At the time of writing, however, the Check Address and Checkout functions in the shopping cart were not operating properly. This is likely to be a temporary issue as posts on crypto forums indicate that the website has operated successfully in the past.

Order a Dish With Digital Cash

Other, more established food ordering services offer bitcoin enthusiasts much larger menus to choose from. Amsterdam-headquartered Takeaway.com accepts cryptocurrency on some of the platforms it owns in Europe. One of them is Germany’s largest food delivery portal, Lieferando, acquired by the Dutch company four years ago.

Lieferando.de, which works with more than 11,000 restaurants, added bitcoin core (BTC) to its payment options in 2017, as news.Bitcoin.com reported. Because it uses Bitpay to process crypto transactions, the website now accepts bitcoin cash (BCH) as well. The same applies to its Polish subsidiary, Pyszne.pl, which partners with over 5,000 local restaurants.

8 Food Delivery Sites That Accept Cryptocurrency

Germany and Poland are Takeaway.com’s second and third largest market respectively. The company now operates 14 popular food delivery portals. Its other major platforms, including Takeaway’s Swiss edition and its original site in the Netherlands, Thuisbezorgd.nl, accept bitcoin.

Shuttle Delivery is a platform that introduced bitcoin cash (BCH) payments this past fall. It’s operating in and around the South Korean capital, Seoul. Shuttle Delivery allows BCH users to order food from over 200 restaurants in the area and pay for the meals with peer-to-peer electronic cash.

When Hungry

When Hungry is the international brand name of a young Russian food delivery service which is trying to conquer European markets such as Germany and the Baltic states. The platform, known in Russia as Хочу Поесть (Want to Eat), recently announced it’s accepting payments in ethereum (ETH) and its own digital token called WHY.

The portal currently works in 90 Russian cities and 31 cities in other CIS countries. It’s partnering with 800 restaurants in the region, none of which accepted cryptocurrencies prior to its decision to introduce the payment option.

To order any of the items in the menu with digital coins, users need to select ‘cryptocurrency’ when checking out and transfer the total amount to a crypto address. A large pizza can now be had for around 0.1 ether, which is much less, in crypto terms, than the 10,000 bitcoins paid for the first two pizzas bought with cryptocurrency back in 2009.

Do you expect more food delivery platforms to start accepting cryptocurrencies in the future? Tell us in the comments section below.


Images courtesy of Shutterstock, Lieferando, When Hungry.


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The post 8 Food Delivery Sites That Accept Cryptocurrency appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2FQdtrD 8 Food Delivery Sites That Accept Cryptocurrency

#Blockchain Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits

The blockchain organization Bloq Labs has introduced a beta version of a new software suite for cryptocurrency miners called Titan. Bloq co-founder Jeff Garzik announced the project at the recent Binance conference in Singapore and claims the protocol can maximize a mining machine’s hashrate by double digits with thoughtful configuration and dynamic adjustment.

Also read: An In-Depth Look at the Trezor Model T Hardware Wallet

Titan’s Mining Management Software Suite Claims to Increase Hash Power by Double Digits

Back in the spring of 2017, the company Bloq introduced a new part of the business called Bloq Labs that aims to support open source projects in the bitcoin and blockchain ecosystem. According to the company’s CEO, Jeff Garzik, Bloq Labs has created a waiting list for miners who want to participate in Titan’s beta testing. The Titan protocol is a software suite dedicated to overseeing cryptocurrency mining infrastructure. If configured correctly, Bloq Labs claims, Titan can increase a mining pool’s hash power “by double digits.” “Titan gets the most out of your machines,” explains the software’s website Titan.io.

Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits
Titan has started its waiting list for beta trials.

According to Titan CEO Ryan Condron, the project has been working in stealth mode for some time now and says the software will make “crypto mining easier, more profitable, and more scalable.” Titan has opened its beta waitlist to the public and at the time of publication, there are 71 registrants so far according to the website counter. The Titan program is free to install but the company will gain profit from advanced hashrate production.

Maximize a Mining Rig’s Shelf Life With Titan’s Efficiency

Titan can be tethered to an entire mining farm, improve watt extraction, and provide further optimizations like enhancing overclocking through a proficient system of machine learning. The team hopes large mining facilities will be attracted to Titan’s offerings. Additionally, Titan’s software will be able to mine multiple cryptocurrencies with different consensus algorithms. The protocol will maximize the devices’ shelf life and shave operation costs by keeping machines up to speed, the company’s website explains. Titan’s website also notes that less downtime in the mining industry equals more money.

Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits
Titan CTO Kyle Howlett says “[Titan] is a fully integrated and comprehensive software suite that not only utilizes existing tools but adds a whole new layer of automation and optimization onto any mining operation.”

“The fact is, managing mining hardware is a very manual process — Not only do you have to individually access and configure each device, but you must continually monitor and adjust your devices to make sure that they are online and mining the most profitable coin,” explained Condron during the beta launch announcement. “Additionally, there’s the balancing act of managing operational costs and physical infrastructure concerns, such as electricity costs, wire management, and heat dissipation.”

The Titan project is also led by the creator of the cryptocurrency mining profitability website Coinwarz Kyle Howlett. The project’s CTO has been creating mining tools for better ROI since 2012 and he believes the new software takes things to the next level. If configured properly with a mining farm the Titan software brings plug-and-play capabilities to mining, emphasized Howlett. Further, the organization detailed that it has a slew of new optimization features to disclose in the coming months.

What do you think about Titan’s mining management software? Let us know what you think in the comments section below.


Image credits: Shutterstock, Titan, and Pixabay.


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#UK US VCs drive $32.3m global expansion round for Cambridge fraudbuster Featurespace

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Massive global expansion for Cambridge UK fraud detection and risk management business Featurespace has been underpinned by a $32.3 million funding round led by two US VC funds anchored in New York and Philadelphia.

The new round takes Featurespace’s fundraising to $70.5m since launch in 2008. The Series F was led by Insight Venture Partners, a New York-based global private equity and venture capital firm focused on high-growth investments in the technology sector, and MissionOG, a Philadelphia-based VC firm with significant operational and investment experience across the financial services and payments industries.

The round also included further funding from existing investors including IP Group plc, Highland Europe, TTV Capital, Cambridge angel and serial entrepreneur Robert Sansom and Invoke Capital, Mike Lynch’s European technology fund based in Cambridge.

The money will be used to support Featurespace’s international expansion and continued development of the company’s software capabilities. The company continues to hire fast on both sides of the Atlantic with scores of jobs to fill to meet demand for the capabilities Featurespace is delivering based on Cambridge University IP.

The investment will also support the continued distribution of Featurespace’s real-time ARIC™ platform, which uses Adaptive Behavioural Analytics to detect anomalies in individual behaviour for fraud and risk management.

Featurespace CEO Martina King said: “We have made tremendous progress over the last 15 months since our last fund raising – and this fund raise is the largest to date.

“The additional funds will enable us to continue rapidly growing the business internationally by focusing on our products, our people and our customers.

“Working very closely with our customers, we have developed a market-leading product to meet their fraud detection and prevention requirements. We have also significantly strengthened our senior management team and operational infrastructure, and opened an office in Atlanta, Georgia.

“And we have grown our financial services customer base and now are working with 17 banks across continental Europe, the UK, US and Latin America. “Equally important, we have become the technology partner of choice to a number of payment processors and merchant acquirers that have embedded our real-time fraud prevention technology in their anti-fraud solutions.”

The company’s big-money US backers are excited about the prospects for Featurespace. Jeff Horing, co-founder and managing director at Insight Venture Partners, said: “We have been following Featurespace’s growth for over two years.

“Following extensive customer and product due diligence, we were delighted with market feedback around the product and team. We welcome Featurespace into our portfolio and look forward to helping the company drive international growth.”

And Gene Lockhart, chairman and managing partner at MissionOG, echoed: “Martina King, David Excell and team have built a dynamic culture that has led to a well-defined and successful market focus.

“Their efforts are evidenced by strong sales momentum with notable clients in various segments, including multinational banks, payments companies, issuer processors and merchant acquirers. “We’re excited to partner with Featurespace and introduce our network and platform to continue to drive value and growth.”

from Business Weekly http://bit.ly/2RiLHoX

Publié dans #UK

#Blockchain $15.4 Billion of New Cryptocurrency Value Was Created During 2018

A report recently published by Diar has estimated that nearly $15.42 billion of value was added to the market capitalization of the combined cryptocurrency markets in the form of newly created tokens and crypto asset inflation during 2018.

Also Read: Bitcoin Climbs up China’s First Crypto Ranking of 2019

12 Percent of Current Crypto Market Cap Was Created During 2018

According to Diar’s report, new crypto asset value created during 2018 is estimated to comprise more than 12 percent of the current combined cryptocurrency market cap.

The largest contribution to newly created value during 2018 was new token additions, representing $4.96 billion, or 32 percent of the $15.42 billion that was added to the markets last year.

$15.4 Billion of New Cryptocurrency Value Was Created During 2018

More than 700 new crypto assets entered into circulation during 2018, a more than 50 percent increase when compared with the start of 2018, and an addition of 110 percent of the number of circulating cryptocurrencies as of the start of 2017.

BTC and ETH Added 27 Percent of Newly Created Value Last Year

BTC added roughly $2.63 billion to the combined crypto asset market cap during 2018, with inflation and newly mined BTC comprising 17 percent of new value added to the cryptocurrency markets, forming the largest contribution made by a single virtual currency.

New value created in the form ETH comprised the second largest contribution from a single market to the combined cryptocurrency capitalization during 2018, adding $1.55 billion, or 10 percent of new value.

$15.4 Billion of New Cryptocurrency Value Was Created During 2018

Inflation on all other cryptocurrency tokens that were circulating as of the start of 2018 added a further $4.17 billion to the combined market cap, comprising 27 percent of last year’s newly created crypto asset value.

Burned Tokens Removed $195 Million From Combined Market Cap in 2018

Newly issued stablecoins comprised a significant contribution to the cryptocurrency market cap, adding more than $1.26 billion in value. The BSV fork also comprised a notable source of new crypto asset value, adding $1.04 billion to the combined cryptocurrency market cap.

$15.4 Billion of New Cryptocurrency Value Was Created During 2018

Finally, burned tokens comprised $195 million in value that was removed from the combined cryptocurrency market cap during 2018.

Are you surprised that $15.4 billion of last year’s newly created cryptocurrency value survived to see 2019? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Diar


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The post $15.4 Billion of New Cryptocurrency Value Was Created During 2018 appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2CQ47Z7 $15.4 Billion of New Cryptocurrency Value Was Created During 2018

#Blockchain The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

In today’s edition of The Daily we feature another recent example of venture capital infusion into the cryptocurrency space as Japan’s SBI invests in the BRD wallet. We also cover a recent security vulnerability that was detected on the P2P exchange Localbitcoins, and a new AML/KYC compliance solution for stablecoins.

Also Read: Galaxy Digital Is Raising $250M to Help Firms Survive Crypto Winter

Crypto Wallet Raises $15 Million

Cryptocurrency mobile wallet BRD (formally Bread Wallet) has announced it has raised $15 million in a Series B financing round to accelerate international expansion and scale its technology platform. The funding came from SBI Crypto Investment, a wholly owned subsidiary of Japanese conglomerate SBI Holdings. The new funds are meant to enable BRD to grow its product and engineering teams as well as to expand its operation in Japan and across Asia.

“SBI Group’s investment in BRD allows us to firmly cement ourselves in the Asian market,” said Adam Traidman, CEO of BRD. “It shows incredible support for the foundation that we have built in North America and reinforces our proven ability to scale the success we have achieved in the past 4 years. The new investment will ensure our long-term global growth, and we are incredibly excited about collaborating with SBI as a strategic investor and business partner to make that happen.”

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

BRD also announced the availability of cryptocurrency purchases using SEPA transfers for the European market through a partnership with payment provider Coinify. This will enable users to purchase bitcoin in the 34 countries across the SEPA region using bank accounts. “BRD has blazed the trail as a decentralised financial platform and we are excited to be the selected partner for their European launch,” said Rikke Staer, Chief Commercial Officer of Coinify. “They have been one of the pioneers of the virtual currency industry, and it is a pleasure to be chosen to power their SEPA trades.”

Localbitcoins Suffers Vulnerability

Peer-to-peer trading platform Localbitcoins has notified users that on Jan. 26, at approximately 10:00 UTC, the exchange’s team has detected a security vulnerability. The notification explained that “an unauthorised source was able to access and send transactions from a number of affected accounts.”

Outgoing transactions were temporarily disabled by Localbitcoins while the team investigated the case, and they were re-enabled after a number of measures to address the issue and secure the accounts were taken. “We were able to identify the problem, which was related to a feature powered by a third party software, and stop the attack. At the moment, we are determining the correct number of users affected – so far six cases have been confirmed. For security reasons, the forum feature has been disabled until further notice.” The team also added some security guidance for users: “Your Localbitcoins accounts are currently safe to log in and use – we encourage you to enable two-factor authentication, if you have not yet.”

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

The announcement by the exchange came after a user complained on Reddit about a phishing attack on the forum.

Chainalysis Goes After Stablecoins

Digital surveillance company Chainalysis has announced the launch of Know Your Transaction (KYT) for stablecoins, an anti-money laundering (AML) compliance solution for monitoring stablecoin transactions from issuance to redemption. The developers say that stablecoin issuers can integrate with the tool via an API to begin monitoring large volumes of activity and identify high risk transactions on an on-going basis. The service is also said to help issuers understand the risk profile of each stablecoin holder and filter them by level of risk exposure to identify those that require the most immediate attention.

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

“Chainalysis exists to build trust in cryptocurrencies among institutions and users,” said Chainalysis COO Jonathan Levin. “The repeated knock against cryptocurrency is its volatility, and trust in stablecoins could lead the way to increased commercial use. Chainalysis KYT for stablecoins further supports this vision by raising the bar for accountability and providing compliance teams with the technology they need to meet AML requirements.”

The company says that the service is now available for a number of ERC-20 stablecoins, and will become available for additional tokens in the coming months.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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from Bitcoin News http://bit.ly/2TgyChP The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

#Blockchain Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies

Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies

A new survey shows that the cluster of companies working with cryptocurrencies and related technologies in the Swiss Crypto Valley has expanded, despite the onset of what has been dubbed as “crypto winter.” The valley now covers a larger territory in the Alpine confederation and has spilled over into neighboring Liechtenstein.  

Also read: Xapo Transfers Key Operations to Switzerland

4 Unicorns With Presence in the Crypto Valley

The falling prices of digital assets in the past months have affected major crypto and blockchain companies with offices in Switzerland and Liechtenstein. The top 50 saw their valuation drop from $44 billion to $20 billion in the fourth quarter of 2018, according to a report produced by Zug-based investment company Crypto Valley Venture Capital (CVVC), PwC, Strategy&, and the Swiss IT consulting firm Inacta.

Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies

However, the number of businesses operating in the crypto space that have established presence in the region has increased by around 20 percent – from 629 to 750. That means over 120 new crypto entities have registered there in Q4 2018. The total includes some of the world’s most recognizable names in the industry, four of which are unicorn startups worth billions of dollars.

The authors of the study have estimated that the top 50 companies are valued at $400 million each, on average. When the five largest are taken out of the equation, the average figure is still $365 million, which indicates a low concentration. The research shows that there are four entities valued at over $1 billion – Bitmain, Cardano, Dfinity, and Ethereum. At the same time, the average valuation of all 750 companies has been estimated at $27 million.

Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies
Visualized market capitalization, Crypto Valley‘s top 50.

3,300 People Employed in the Crypto Cluster

The 50 largest companies have around 480 people working in their offices in Switzerland and Liechtenstein, while the whole sector employs over 3,300 people. These and other numbers in the report indicate that the current situation is ‘business as usual’ for many entities, despite the drop in the market value of most cryptocurrencies.

The researchers have also found that the Crypto Valley is expanding geographically. While over half of the companies (51 percent) are based in Zug, other Swiss cantons are now home to the rest. According to the compiled data, 42 of these businesses are registered in Geneva and 39 in Ticino. Liechtenstein is another hotspot with 38 companies from the sector. CVVC maintains an online map that shows where the crypto startups are located.

Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies
Companies registered in the Crypto Valley by canton, including Liechtenstein.

A comparison with the numbers from the third quarter of 2018 shows that 15 companies have joined the top 50 during the last three months of the previous year. These are 4 Artechnologies, Boscoin, Hdac, Icon, Mt. Pelerin, Odem, Quant Network, Saga, Santiment, Sygnum, Token Pay Swiss, Nexo, WPP Energy, Utopiamusic, and Zulu Republic. Another 10 startups are candidates to do so in the future.

Switzerland and Liechtenstein, along with Malta, Gibraltar, Estonia, and the Isle of Man, are part of a group of European jurisdictions making efforts to create a crypto-friendly business environment. The expansion of the Swiss Crypto Valley has been facilitated by the country’s decentralized political system and strong traditions in providing financial privacy. Last month, the government in Bern adopted a comprehensive strategy for the development of the crypto sector.

Do you think the Swiss Crypto Valley has become the leading global hub for the crypto industry? Tell us in the comments section below.


Images courtesy of Shutterstock, CVVC.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2SgpHQh Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies

#Blockchain Bitcoin Climbs in China’s First Crypto Ranking of 2019

Bitcoin Climbs in China’s First Crypto Ranking of 2019

China’s Center for Information and Industry Development has released its latest ranking of 34 crypto projects. This is the first update for 2019, but it is the ninth update overall. Bitcoin has been upgraded from the previous ranking while the top two positions remain unchanged.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

First 2019 Ranking

The Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology, released its ninth crypto project ranking update on Thursday. The center noted that this is the first update this year and 34 crypto projects were evaluated, unchanged from the number ranked in December.

The latest update ranks BTC in the 15th place, slightly upgraded from the 18th place in the previous month’s ranking. BCH rose from the 30th place to the 28th place.

Bitcoin Climbs in China’s First Crypto Ranking of 2019

“The evaluation results show that EOS and Ethereum still firmly occupy the top two [positions] of the list,” the center emphasized, adding that the Ethereum Constantinople upgrade is expected to be taken into account in the next evaluation cycle.

Ethereum Classic fell from the 15th place to the 19th place in the latest ranking. The center explained that “Ethereum Classic suffered a sustained 51% attack, which caused widespread concern, and the security of the public chain will remain an important issue that plagues future development.”

Bitcoin Climbs in China’s First Crypto Ranking of 2019

All 34 crypto projects were also ranked in three separate categories: basic technology, applicability, and creativity. According to the CCID, “the average value of the underlying technology index has decreased from the previous period,” but the applicability index remains roughly unchanged.

Furthermore, the “average value of the creativity index is significantly lower than the previous period,” the center pointed out. “Due to the influence of Christmas, the code update activity of most public chains has been significantly reduced, resulting in a significant decline in the innovation sub-index compared to the previous period.”

How China Started Ranking Crypto Projects

The CCID describes itself as “a first-class scientific research institution directly under the administration of the Ministry of Industry and Information Technology of China.”

On May 11 last year, shortly before the first ranking was released, the center held a symposium on public blockchain technology assessment in Beijing and unveiled the latest progress of the crypto project assessment work carried out by the CCID (Qingdao) blockchain research institute, an entity established by the CCID. It added that the work was done in collaboration with multiple parties such as the CCID think tank and the China Software Evaluation Center. “The result of this assessment will allow the CCID group to provide better technical consulting services for government agencies, business enterprises, research institutes, and technology developers,” the center clarified.

Bitcoin Climbs in China’s First Crypto Ranking of 2019

Quartz reported when the first ranking was released to the public, “Today (May 17), the China Center for Information Industry Development (CCID), a research unit under the country’s industrial ministry, officially launched its monthly ratings index on 28 crypto coins and the blockchains behind them.” The publication elaborated:

The CCID announced the initiative last week, citing the lack of an independent analysis of crypto and blockchain as a guide for governments, enterprises, and research institutes around the world.

What do you think of the latest CCID ranking update? Let us know in the comments section below.


Images courtesy of Shutterstock and the CCID.


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The post Bitcoin Climbs in China’s First Crypto Ranking of 2019 appeared first on Bitcoin News.

from Bitcoin News http://bit.ly/2sO5gvm Bitcoin Climbs in China’s First Crypto Ranking of 2019

#Blockchain An In-Depth Look at the Trezor Model T Hardware Wallet

An In-Depth Look at the Trezor Model T Hardware Wallet

Cryptocurrency hardware wallets have become a mainstay within the digital asset economy and over the years these devices have evolved. After designing the first bitcoin hardware wallet on the market, the Prague-based firm Satoshilabs has released a new Trezor product line called the Model T. The following hands-on review details how to get started with the Trezor T cryptocurrency wallet and outlines its primary features.

Also read: A Review of the Swiss-Made Digital Bitbox Hardware Wallet

Testing the Touchscreen Trezor Model T

This week I received a Trezor Model T in the mail and decided to provide a rundown of how to set up the hardware wallet. In this review I also note the differences between the new version and the Trezor One. The box is very well packaged compared to the Trezor One I purchased years ago and comes with various accesories. Inside the box, there’s a Trezor T device, a USB-C cord, two recovery seed cards, a magnetic holder for the device, and a bunch of stickers. The machine itself features a RGB LCD touchscreen display and USB communications are enabled only after authentication. The directions inside the box explain that the owner needs to go to the Trezor website to initiate the wallet.

An In-Depth Look at the Trezor Model T Hardware Wallet
Everything the Trezor Model T comes with and the magnetic wall mount.

One thing that is noticeable is the amount of pressure needed to insert the USB-C cable. At first, I had issues initiating the firmware because my computer couldn’t recognize the Trezor through the cable. All shipped Trezors come empty and never have firmware installed for security reasons. However, I learned from the folks at Satoshilabs that you need to push the connector in hard enough until you hear it click. After choosing the T version on the website, it takes you to the beta Trezor browser wallet to initiate the device firmware. The setup can be initialized using the main Trezor wallet instead if you don’t want to use the beta version. The T only took two minutes for the firmware to install and from here I was able to begin the wallet setup and backup process.

An In-Depth Look at the Trezor Model T Hardware Wallet
Initiating the firmware, creating a new wallet, and backing up the seed.

Backing up the Seed, Adding a PIN and Naming the Wallet

The device screen will warn the user that a backup has not been completed and the wallet browser will initiate the start of this process. From here, after the usual disclaimer about no screenshots and writing the seed down alone, the device screen will reveal a 12-word mnemonic seed phrase. After writing the words down on the seed card supplied in the box, I was prompted to confirm some of the words randomly in order to verify that the seed was written down correctly. Once the device confirms that the owner has written down the phrase, the setup moves on to adding a PIN to the device and a name. Each action needs to be confirmed using the device’s touchscreen. While pondering a name I decided to name my gadget ‘Satoshi’s Trezor’ because, after all, we are all Satoshi. Moving on, the browser wallet asks if you want to add an email and I opted to skip that step.

An In-Depth Look at the Trezor Model T Hardware Wallet
Setting a PIN and naming the device.

After the wallet was all set up, I sent a small fraction of bitcoin cash (BCH) to the wallet to make sure everything was working correctly. The Trezor T also supports BTC, BTG, DASH, DGB, DOGE, LTC, NMC, VTC, ZEC, ETH, ETC, XLM, XEM, and ADA. Some of the cryptocurrency wallets like ETH, ADA, and XLM take you to a third party wallet which essentially tethers the account to your device. Just like the Trezor One, the Model T can also act as a U2F device for online accounts like Dropbox and Gmail. Additionally, Satoshilabs has added an exchange feature which lets the hardware wallet interact with a third party trading platform so the user can swap coins without leaving the secure confines of the Trezor software.

An In-Depth Look at the Trezor Model T Hardware Wallet
The Trezor dashboard and all the steps involved with creating a seed backup.

A Model One Evolved

Overall, the Model T worked well but it took me some time getting used to the USB-C cord insertion, even though I use USB-C hardware regularly. The Keepkey cryptocurrency hardware wallet I recently reviewed also has a noticeably tougher USB insert. After getting used to the plug, it became much easier, but you may want to use a longer cord. The LCD touchscreen display is nice but was not so friendly with my fat fingers. The touchscreen takes some time to get used to as well and the screen is used for the wallet’s PIN entry, instead of the onscreen randomizer PIN pad used with the Trezor One.

An In-Depth Look at the Trezor Model T Hardware Wallet
Sending 15 cents’ worth of bitcoin cash (BCH) to test the wallet.

The device works just as well as my first Trezor wallet, but users will find subtle differences between each one. For example, the Model T comes with a micro-SD slot for advanced features that will be added to the operating system at a later date. Even with the T’s touchscreen, prospective buyers may still decide to purchase version One because it’s significantly cheaper than the Model T and just as secure. The T version is roughly $169, but that doesn’t include DHL shipping costs. One thing for certain is that I will continue to use the Model T hardware wallet, unlike some of the devices by other manufacturers I’ve previously reviewed that are now collecting dust.

What do you think about the Trezor Model T? Let us know what you think about this hardware wallet in the comments section below.

Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the review article. Review editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are considered optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Image credits: Jamie Redman, Trezor, and Satoshilabs. 


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#Blockchain Bank’s Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for Bitcoin

Bank's Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for Bitcoin

Venezuela’s economic crisis is impossible to ignore. President Nicolás Maduro’s attempt to withdraw $1.2 billion of the country’s own gold from the Bank of England (BoE) has been rejected. The notion of a sovereign state being denied access to its own wealth is a concept that’s hard for bitcoiners to countenance. One thing is certain: the case for storing wealth in censorship-resistant cryptocurrency is becoming stronger.

Also Read: Venezuelan President Raises Petro’s Value Again in Bid to Create ‘New System’

How the Venezuelan Political Situation Escalated

Bank's Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for BitcoinIn order to understand the Bank of England’s (BoE) decision to deny Venezuela its gold, a brief history lesson is required. How did one of the most oil-rich nations on earth end up on the brink of collapse? Since 2016, political discontent in Venezuela has been fueled by increasing hyperinflation, power cuts, shortages of food and medicine. Gold is a crucial part of Venezuela’s foreign reserves.

One huge turn of events involves the disputed presidency in Venezuela. Maduro was elected in April 2013 after the death of Hugo Chávez. In the meantime, Juan Guaidó has declared himself acting president despite Maduro being re-elected to a second six-year term in May 2018, which most opposition parties boycotted. On Jan. 26, the UK foreign secretary Jeremy Hunt said that the U.K. will also recognise Guaidó as the interim president of Venezuela if fair elections are not announced within eight days.

Hunt tweeted:

 

Cryptocurrency has already played an important role in this crisis. To counter escalating hyperinflation in February 2018, Maduro announced the launch of a state-backed cryptocurrency, the petro. During the launch, he is quoted as saying: “Venezuela makes history! Today we take a step forward with the launch of petro as a national currency and platform for strengthening our financial sovereignty.”

Absurd Issues Around BoE Transferring the Gold

Bank's Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for BitcoinThe BoE is one of the largest physical gold custodians in the world. Data published by the London Bullion Market Association (LBMA) states that around 7,500 tonnes of gold was held in London in March 2017, the equivalent of 596,000 gold bars. Previously it was reported that the refusal to return the gold was due to insurance related reasons. Now it is evident that the BoE’s decision to withhold the gold is political. In a November article, Reuters quotes an unnamed official as saying:

The plan has been held up for nearly two months due to difficulty in obtaining insurance for the shipment, needed to move a large gold cargo.

The U.K. has legitimate concerns and reasons for not releasing the gold. According to Bloomberg reports, Ricardo Hausmann, a Harvard economics professor and long-time critic of Maduro, has stressed that the first rule of business is to stop his government from liquidating international assets belonging to the country and stealing them.

The Gold Repatriation Trend

Gold repatriation occurs when governments choose to bring home their gold stored outside of their country. Over the years, this has become a growing trend which raises questions as to whether something is brewing that might have compelled them to initiate the move. Fears that certain states might confiscate gold bullion, for example, could be a trigger.

Prior to Venezuela requesting gold bullion back from the BoE, the German central bank completed the move of 674 metric tonnes from the vaults of the Federal Reserve Bank of New York and the Banque de France three years ahead of schedule. Last year Turkey joined the ranks of Germany and Hungary as the latest country to repatriate gold to its soil, according to reports from the country’s media. 

The Case for Crypto Increases 

Bank's Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for BitcoinBitcoin is backed by mathematics instead of state governments. It is possible that the recent sanctions and fear around physical gold could have been avoided if wealth had been held in the form of digital assets that can’t be censored or frozen by any third party.

In a recent interview with news.Bitcoin.com, Kai C. Chng, CEO of Digix, an asset tokenization company, explained how precious metals have always been a historic safe haven in times of economic uncertainty and are largely resilient to the fluctuations of international monetary markets. In times of crisis, this could change as people look for alternatives. “Should a global recession impact the purchasing power of traditional currencies, for those who already understand the benefits presented by cryptocurrency, we would expect to see increased interest in owning bitcoin, while those who are currently ill-acquainted with the cryptocurrency market are likely to show new interest in entering the space,“ said Chng. 

Today, nearly 90 percent of Venezuelans are living in poverty. It seems Venezuela will remain immersed in a grave political crisis and economic war, with millions of innocent people poised to suffer as governments squander funds. In these desperate times, Bitcoin seems less like a bold experiment and more like a lifeline.

Should the Bank of England return the gold bullion to Venezuela? Let us know in the comments section below.


Images courtesy of Shutterstock.


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