June 8, 2020

A New Token Lets You Save on Ethereum Fees by ‘Storing’ Gas

June 8, 2020 boss

Ethereum (ETH)’s fees are hard-coded to only be payable in Ether, but a clever trick with smart contracts allows users to effectively pay for gas with a special token, which reduces the total fee they incur. This principle was used by the team behind 1inch.exchange, a decentralized exchange aggregator, to introduce the Chi token. The technology was formally announced on June 5, and it builds on a previous iteration of the concept, called Gas Token (GST). How does it work? Chi takes advantage of a mechanism that refunds gas when…

Price Analysis 6/8: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ

June 8, 2020 boss

Bitcoin price remains range-bound, but as miners sell fewer coins and the BTC reserves on the exchanges drops, a possible up move could occur in the next few days. The total crypto market capitalization was close to $270 billion on May 8 and currently, the metric stands at $275 billion. This suggests that the crypto markets have been largely stuck in a range for about a month. Daily cryptocurrency market performance. Source: Coin360 As reported by Cointelegraph, Bitcoin (BTC) miners are holding on to their newly minted coins and this…

NFT Marketplace Opens Korea’s Multi-Billion Gaming Industry to Crypto

June 8, 2020 boss

Korean Blockchain gaming company PlayDapp has launched a marketplace for non-fungible tokens (NFTs), offering Korea’s multi-billion gaming industry a native gateway into digital assets. Announced on June 8, the new platform, ‘PlayDapp MarketPLAce,’ advertises itself as providing free support for coin-to-coin trading between NFT-based in-game items. Koh Kwang-Wook, a founding member and former CTO of Item Bay, an early online brokerage platform for in-game items, led the development of PlayDapp’s marketplace. Korean NFT marketplace targets gaming industry At launch, the platform supports items from Ethereum-powered collecting games CryptoDozer and DozerBird.…

Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

June 8, 2020 boss

China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market. China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion). The asset-backed commercial paper (ABCP) was issued as a part of the National Association of Financial Market Institutional Investors’ (NAFMII) pilot project. ABCPs are short-term investments issued by financial institutions to support companies in their short-term goals. The ABCP used…

Law Enforcement Is Starting to Make Criminals Doubt the Dark Web

June 8, 2020 boss

A new study revealed that dark web marketplace users are starting to lose trust due to authorities’ crackdowns and “current volatility” within the landscape, which results in instability for the darknet sites to establish a fixed presence. According to cybersecurity company Trend Micro on Sunday, crackdowns on marketplaces Dream Market, Wall Street Market, Valhalla and DeepDotweb have generated uncertainty among users regarding the unstable security infrastructure that dark web sites have been providing. Fears of “exit scams” The report detailed that after March 2019, when law enforcement shut down darknet sites,…

Head of Chinese Investment Firm Believes Blockchain will “Lead” China’s Economy, Here’s Why

June 8, 2020 boss

China’s blockchain push seems never-ending, various governmental and financial officials of the country have, in recent times, spoken on the merits of blockchain technology and how a distributed ecosystem may help bolster the ongoing “fourth industrial revolution.” Oncoming digital globalization Dr. Xiao Feng, who serves as the VP of China-focused investment fund China Wanxiang Holdings, spoke at the M&A Summit in Shanghai last week, elucidating about blockchain technology as a tool to help realize the “digital globalization.” In his keynote attended by investors and high-ranking officials,…

Bitcoin Price Will Reach $150K and Ethereum $9K, Says Simon Dedic

June 8, 2020 boss

Blockfyre co-founder Simon Dedic predicts that Bitcoin (BTC) prices will hit $150,000. However, he doesn’t think that this rise will be like the one we observed in 2017. Blockfyre’s Co-founder Simon Dedic has predicted that Bitcoin (BTC) price could reach $150,000. He also said that Ethereum (ETH) could hit $9,000. Dedic believes that these events will occur in the next bull run. For Bitcoin (BTC) this represents a 1,400% increase. At the time of filing this report, Bitcoin (BTC) price was at $9,712.03 (2.1%). Ethereum (ETH) was at $243.37 (2.17%).…