Online crypto-trading platforms these days are dime a dozen. However, it takes a lot to get noticed and WhalesTrader is one such platform. Recently, CEO of WhalesTrader Gary Spark answered a few questions about the project to give readers a better idea of the platform and how it works.Q: For the uninitiated, can you explain what WhalesTrader is all about?A: WhalesTrader is all about giving the power back to people, in this case, the “fish”. Whales have been manipulating the market for a very long time, with the help of top-notch AI algorithms as well as quantitative systems. As a result, if you take a look at normal traders, they are left without any way of fighting back against the manipulation of whales. To solve this issue, we have created WhalesTrader which gives normal traders a wide range of tools to be used as weapons against whales, thus finally giving the normal fish an edge over the whales who manipulate the market to steal their money.Q: How is it different from other trading platforms that are currently available in the market?A: First and foremost, WhalesTrader is all about the user experience. This is a platform that was built by traders for traders. The product was not only built to solve issues that we, as traders went through, but we also constantly listen to our user’s advice when implementing new features. Not only this, but we are one of the few if not the only platform that actually uses advanced machine learning to understand and predict the markets movements. Not only that but some of our features are patent pending and therefore it will be quite hard for other platforms to copy us.Q: Tell us more about the idea behind WhalesTrader and why you decided to embark on this mission?A: Financial freedom is the dream of everyone living on this planet. We found it for our self once we built BlackWhale and WhalesExposed and we wanted to share it with the community instead of only profiting from it ourselves. You could say we are the anti-whalers, ideologically speaking since all we want to do is share and all they want to do is keep information to themselves. We do run a quite large investment fund so financially speaking we are whales and have already achieved financial freedom, however, since we understand how upsetting it can be to know that the market is being manipulated and to be left powerless against it, we decided to give this platform to the community. In a way, our platform offers anyone in the world the necessary tools to become financially free. What you do with them, however, depends only on the individual. It’s somewhat like college; you can get a great education but, in the end, what defines success is how well you can use that education.Q: How does one start using WhalesTrader?A: Actually, it’s extremely easy to start. Just create an account and then start learning about the different tools we offer with this link: www.whalestrader.com/academy Everything available in the academy is completely free for everyone to learn and doesn’t simply teach you how to use WhalesTrader but also how to read any type of charts.Q: Let’s talk a bit about the team behind WhalesTrader. Tell us more about the people instrumental in getting the project off the ground.A: In the beginning, we were all basically crypto day traders, who had never even met each other. All our early conversations were taking place on a group chat on Telegram and while discussing with one another and realizing how much the market is manipulated, we decided to do something about it and so we created these tools for our own use. After learning how well the tools themselves work, we decided to open it up to the entire community. Since then, we have opened an investment fund as well as different offices all over the world.Q: Do you have any collaborations and partnerships in place? Can you tell us more about them?A: Our main focus at this moment is providing the best possible product on the market. We will only think about partnerships afterward.Q: What does the future hold for WhalesTrader?A: We will continue expanding the product since we have dozens of developers working on it around the clock. As we become more diverse, we hope that one day all the young people in the world who lack access to proper financial education or means of achieving financial freedom on their own will be able to use WhalesTrader to become traders and live a life where the money is not an issue. At WhalesTrader we don’t believe that money is the purpose, however, it is most usually the means to achieve the purpose, so we see it as our responsibility to help the young generation all over the world to be able to achieve their dreams, by having the necessary means to do so.Q: Anything else you would like to add?A: We believe that everyone in this world has the right to have financial freedom. This is why we created WhalesTrader, the platform with exclusive tools which anyone can use, even without any knowledge or background in trading. So perhaps the only thing we’d like to add is that the main message behind WhalesTrader is to create your own financial freedom before it is too late.Know more about WhalesTrader at: https://whalestrader.com/
Bibox, a well-known crypto-asset trading platform has made a lot of headway in recent times. The company has announced many new developments and the latest one is the Bibox Orbit program. In a recent interview, one of the co-founders of Bibox Aries Wang shared few insights into the company’s initiatives.Q: Let us start with some background about Bibox and the things that led to the creation of Bibox OrbitA: Bibox was registered and established in November 2017. Within one year, Bibox expanded its footprint in the U.S., Switzerland, Canada, China, South Korea, Japan, Singapore, and Vietnam. Traders now are able to enjoy secure, stable, and user-friendly digital assets management services, with access to over 100 high-quality coins and over 200 trading pairs. Our registered users, as of April 2019, have exceeded 2 million.Bibox has a wide range of digital assets products. Besides crypto-crypto trading, we set foot on derivatives trading, such as 3x margin trading, perpetual contracts with five trading pairs of BTC, ETH, EOS, BCH, LTC against USDT without imposing the funding rate from buyers or sellers. We aim to meet the enormous trading demand from the community and users.We also launch BiboxLab, an incubator, accelerator, and hub, bringing together the world’s top Token Funds to consolidate the best resources on hand to fully support top-tier blockchain projects in terms of funds, technical guidance, consulting services, marketing and media, legal counsel and office space.As a digital asset trading platform, we are also committed to premium decentralized projects, helping them grow and better apply in real life. With this mission in mind, Bibox Orbit comes into being.Q: How do you envision Bibox Orbit contributing towards a stronger blockchain ecosystem?A: Bibox Orbit provides them with a platform to raise funds for the development of the ecosystem. We wish to fully leverage Bibox’s resources and strength in supporting top-tier decentralized projects to increase their brand awareness and exposure across the industry. Also, Bibox Orbit provides them with a platform to raise funds, giving them enough time to focus on the technological innovation and development of the ecosystem.Q: The Bibox Orbit is set to go live very soon. What are your expectations from the platform in the days to come?A: For sure, we expect it to be successful. We hope Bibox Orbit will fulfill all of the three projects and participants’ expectations. For projects, Bibox Orbit provides them a platform to raise funds, at the same time, relying on Bibox resources and influence, it’s a good thing for their brand awareness and self-development in the industry. On the other hand, Bibox Orbit offers users diversified alternatives when it comes to investment. This is also our commission to initiate the Bibox orbit.Q: If we have understood right, the Bibox Orbit program will be launched in phases, and what we are going to see on April 22, is the first phase. How will these phases be divided?A: This would be the first phase of our IEO token launching, with three top-tier projects launched together on April 22.On March 30th, we announced to launch Bibox Orbit.About two weeks on April 17th, we released the rules, date and time for the subscription, that users can start the subscription from 10am till 5pm, April 22nd (GMT+8), by transferring BIX, the native token of Bibox, into the event page according to the subscription amount and the personal subscription limits, then they will get the subscription numbers.Then on April 22nd, users can view the drawing result at 8 pm (GMT+8) the same day. But the trading for those three projects token will be announced.Q: Tell us about the selection criteria for projects to be listed on Bibox Orbit. How many projects do you intend to support?We evaluated projects in several dimensions:First, the technological innovation ability of this project and its application scenario. Elements like innovation, real application scenario, wave-making, consistent development come into the play. We did very detailed and in-depth research on all these elements through repeatedly communication and research.Second, whether tech logic is clear or not. This is a critical factor. Because technology is the underlying architecture, which determines whether a project can be fully applied to real life.Third, the core team’s background.When we were screening those projects, we also considered this factor. These three projects have a strong technical background and rich cross-industry experience. Their respective division of labor and cooperation are excellent as well. For example, Ludos. the core team members of the project are from Columbia University, Carnegie Mellon University, Peking University and other top-tier academic institutions.Fourth, the investor background of the project.SoftBank has Ludo’s back. X-Block is incubated by DFG, a well-known investment institution in Silicon Valley, and has received a strategic investment from Australia’s top institution, Kosmos Capital.Of course, in addition to all these mentioned above, we will take the project community’s activity, operational capabilities and so on into consideration.For this time, we only selected and launched three projects, but it’s an on-going thing, after the first phase, we will continue searching for premium projects, assisting them with the long-term development.Q: Give our readers some insight into the team behind BiboxA: Our team has a very versatile background and has veterans and experts from various industries involving blockchain, finance, AI, etc.Our Asia region managing director, Jefferey Lei, was the co-founder of OKCoin and Jixianyuan. OKCoin is one of the first few digital asset exchanges, and Jixianyuan is an AI and information technology focused company. Before the successful entrepreneur journey, he worked for Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices. His experience shaped him as an expert in blockchain, digital asset, AI and information tech and also a veteran angel investor.Ji Ma, the co-founder of Bibox, is an expert in Big Data, AI and blockchain technology. He took the role of software engineer for the Institution of Software for Chinese Academy of Sciences after achieving his masters degree. In 2010, he joined Huawei responsible for the R&D, testing and developing solutions for network security products. As a serial entrepreneur since 2013, he co-founded a well-known AI technology company, Jixianyuan, providing services for Cyberspace Administration of China, Ministry of Public Security, Ministry of Education, Lenovo, Sogou, Qihoo 360 Technology, State Grid, etc.Our Southeast Asia managing director, Guojie Liu, who holds a double master’s degree from National University of Singapore and the University of Cambridge. Prior to joining Bibox, he worked as an asset manager at BlackRock, and has ample experience in capital markets, blockchain investments, and private equity.As a co-founder of Bibox myself, I’m glad to be constantly growing with the company and the industry. While developing Bibox exchange, I joined BlockWater Capital and went on investing in top- tier projects. To share the experience and knowledge, I’ve gained in the past few years, I have released my book <Crypto Economy> last year, now the book is available on and offline and is in many university libraries.Q: Any collaborations or industry partnerships in the making?A: Yes, I’d say many exciting news will be released in the near future. Stay tuned! Find more information about the Bibox Orbit program at – https://www.bibox.com/orbitIndex
The online cryptocurrency gambling market is growing at a phenomenal pace. And, the rising number of gambling platforms entering the market has left the players in confusion. Zamsino has come to the patrons’ rescue with a guide that enables players to choose the right platform they can trust and the games they like.In a brief interview, the Chief Editor at Zamsino United Kingdom Sam Weaver offers an insight into the platform.Q: Let’s start with the most important question, What is Zamsino?
A: Zamsino is an online gaming guide focused on everything from online casinos, bingo to sports betting.Q: Can you tell us more about the listing process on Zamsino? What are the parameters on which the platforms are evaluated?
A: On Zamsino we are taking several things into account such as bonus, free spins, payment methods such as Bitcoin or E-wallets. We can also measure the popularity of each casino via clicks and regs and usually push the most popular casinos first in the top lists.Q: What made you come up with Zamsino? When did it all start?
A: I was working in the online casino industry in Malta and found it out by searching for online casinos on Google. I figured out the business model and it was lucrative so then I started working on it.Q: How many people are there on your team?
A: We are currently a team of 7 people working from our office in Malta.Q: What are your thoughts about the crypto-gambling segment and what do you think, is in store for the industry in the near future?
A: We are probably to see more regulations coming everywhere in Europe but as cryptocurrencies are getting more mainstream, I am sure that plenty of online casinos will offer deposit methods such as bitcoin or other cryptocurrencies.Q: What are your future plans for Zamsino?
A: We are right now on a global expansion, trying to test out as many markets as possible with minimum effort for the expansion. We hold 8 complete versions of the site while we are launching some 1-page guides on our international page for people in less lucrative markets.Q: Would you like to add anything more?
A: We are doing a big cryptocurrency update soon, this will mean that we will be doing a crypto offers page for all of our GEO´s and I hope you will come by and visit us then!Learn more about Zamsino UK at – https://zamsino.com/uk/Image: Pixabay
Early Bitcoin believers ventured into the digital currency industry because of its autonomy and anonymity. But the anti-establishment attitude cannot help the sector grow, according to Bittax.The Israel-based crypto tax specialist said that most people would not pay taxes off their crypto-based capital gains. However, if a majority of the crypto industry becomes a tax defaulter, governments will put more roadblocks before its mass adoption plans. Or Lokay Cohen, the vice president at Bittax, explained that Bitcoin would gain momentum as a broadly accepted currency only when it passes through tax and money laundering systems.“For example, there is no way to liquidate the money and buy a car or a house,” Cohen told NewsBTC. “[Not] without financial institutions evaluating the source of the money.”Cohen also cited the latest developments in the regulatory space whereby countries had established robust intergovernmental data sharing protocols.“Today, more than ever, the economic system is supervised, and the enforcement authorities have many tools for combating tax evasion,” he said. “This is true of Bitcoin, which is not as anonymous as many people think. Authorities are beginning to require information about users from organizations involved in the field,” said Cohen. “And this information will eventually be exchanged internationally.”
This week NewsBTC spoke to Adam Todd the founder and CEO of Digitex Futures Exchange.
Q: At only 19 years of age you started out as a pit-trader on the London International Financial Futures & Options Exchange. You were also one of Betfair’s most successful sports traders. You went without a losing day during eight months of full-time trading. So, what sort of advice do you have for traders in the crypto community today?
A: The biggest secret I always discovered was the shorter time that you trade the easier it is. The longer term you trade, the more fundamentals you need, you need to understand what you are trading on, you need to understand what things are going to influence that underlying instrument. The shorter time frame you go, the less you need to know, to the point where if you are a scalper, just buying at the bid and selling at the offer, it gets to the extreme where you don’t even need to know anything you are buying and selling. When I was doing trading with horse racing, I went eight months without a losing day, I didn’t know anything about horse racing, I wasn’t picking winners I was just trading prices before the race started, so again no knowledge of the underlying instrument. So my advice to people would be the shorter time you trade, the more consistent you can become. That is why I have built Digitex Futurex Exchange the way I have. It is very geared towards short-term traders. My advice: Go short term, go for smaller profits.
Q: You have been preparing for the launch of Digitex Futures, which is a commission-free cryptocurrency futures trading platform. Do you have an exact date for the official launch and what sort of challenges have you faced while striving to achieve a stable and secure platform that can handle large spikes in usage?
A: We have been saying Q4 the whole time, so end of the year is probably the exact date. It is going to be a beta release, a soft launch to the first 5,000 on our waiting list. There are about 150,000 people on our waiting list right now and we have a referral program. The development team we have are very experienced and are mainly from the telecom industry. The telecommunications industry is all about very robust systems. I think it going to very well adapted to these large spikes and drops in usage that comes with cryptocurrency trading as the prices get more volatile and they are expecting that. The software is built with that in mind, it is going to be very robust, so if it does go down, it will be able to come back very quickly.
Q: The ICO sold out in just 17 minutes raising $5.4 million in funds from 2,530 buyers. The commission-free platform will be the first of its kind, can you tell us about the technology and what makes digitex unique?
A: The most unique thing about it is that the platform is commission free. Ours is a revolutionary new model completely. The native currency of the futures exchange is the digitex token, which means that your account balance, the margins that you post, profits and losses, and tick values will all be denominated in digitex tokens. That is how we do the commission-free side, because now we control the base currency of the futures exchange. Every year, we can mint a small number of new tokens to cover the cost of running the exchange. Creating a number of tokens obviously creates an inflation rate. So the token issuance system is governed by all of the current digitex token owners through voting, so only the ones who will be affected by this can approve an inflation rate. By issuing new ones, that allows us to operate the futures markets without any transaction fees at all. The more people who actually use the system, the more robust this revenue system of token issuance actually gets. In return for the cost or inconvenience of holding those tokens, you get absolutely no transaction fees. Short term traders are the ones who are the most affected by transaction fees.
Q: The platforms token DGTX has been skyrocketing since its launch in May. It is currently in 117th place in terms of marketcap. When do you think we will see it among the top 100?
A: In the next six weeks I see it going up. We have a couple of announcements coming up. I will be doing a keynote speech at the Malta Blockchain event and I will be showing off the platform officially for the first time. I expect the token to go crazy after all of this and I expect to see it in the top 100 before Christmas, but that is just my opinion.
Q: What sort of impact do you expect the Digitex Futures commission-free platform to have on the crypto community?
A: I think it will create very liquid futures markets. There are futures markets out there that are fee charging, we are going to shake that up. Also, the decentralized account balance is very interesting as it is decentralized. So you can use our exchange without trusting the exchange or me. That is massive, as so many exchanges get hacked or run off with your money. By using Plasma, the latest technology on the Ethereum platform, which is basically Ethereum’s version of Bitcoin’s Lightning network, we can create this system of state channels, which is lightning fast, but it is a hybrid of a centralized order matching engine, but decentralized account balance. I think this will have a big impact on the crypto community.
On July 16, upon the finalization of the 2018 FIFA World Cup which declared France as the champion, blockchain-based sports protocol BitGoals completed its token sale, with a unique community activity.
First Peer-to-Peer Pool Bet
Throughout the World Cup, the developers of BitGoals have consistently led various initiatives to demonstrate the use case and potential of the SPT Token, the native cryptocurrency of the BitGoals blockchain protocol.
On July 15, the day of the finals between Croatia and France, the BitGoals team utilized a smart contract on its public blockchain network to allow thousands of users to bet on the result of the World Cup finals. Ben Harris BitGoals Founder explained:
“As for the finals themselves, BitGoals launched another resourceful activity — The first use of a pool peer to peer betting, based on a smart contract. This activity was open to any player who registered and made a bet, allowing them to win up to 100,000 STP tokens. Each team got its own pool of 100,000 that got more STP tokens as more and more voters vouched in. The pool of France got its supporters the awaited prize, that was equally shared among each and each one of them.”
With a shared prize of 100,000 SPT tokens, the initiative allowed any user on the BitGoals blockchain network to vote for either Croatia or France by casting a vote via a transaction on the mainnet. A vote for Croatia added 100 SPT tokens to the prize pool of France supporters and vice versa, creating a competitive environment for football fans to celebrate the biggest sporting event in the world.
Autonomously, as France was declared the winner of the 2018 FIFA World Cup, the smart contract shared all of the STP tokens that were in the prize pool to the individuals who had voted for France.
The BitGoals team stated that the first case of peer-to-peer pool betting on the blockchain, initiated in the largest international sporting event, properly portrayed the possibility of the BitGoals blockchain network to evolve into a protocol that can be used to fuel various sport-related betting applications deployed on the blockchain.
“After a month, the BitGoals team was happy to announce that they have reached their sales goals, allowing them to continue onwards to various goals, including registering their currency (STP Token) at various stocks markets — And that’s just the beginning towards a new dawn for the sports and gaming worlds — A world of a unique and special currency that will create the biggest, most united sports community to ever exist,” Ben Harris said.
Where the Platform Goes Next
The next natural progression from a successful World Cup initiative and a token sale is widespread adoption of the BitGoals sports protocol globally, evolving into the premier decentralized blockchain network for sports betting decentralized applications (dApps).
As a network that is capable of handling large data requests in a variety of use cases such as sports, poker, fantasy, match, and merchandise sales, with appropriate initiatives and unique solutions, BitGoals has the potential to grow into the largest sports blockchain protocol in the global market.
The last price STP tokens were sold was at a price of 0.00013 BTC.
The post First Decentralized Pool Betting on Blockchain Done by BitGoals in 2018 World Cup Finals appeared first on NewsBTC.
As a part of our interview series, we asked a few questions about Genesis Vision to its CMO Artur Bagdasaryan, who gave a clear picture of the platform. Read the following questions and answers to know more.
Q: What is Genesis Vision all about?
A: First off, Genesis Vision is an asset management platform, that uniquely unites all of the market participants into a single ecosystem.
If we were to describe what our platform is about; in broader terms, it would sound like this – we believe that we’re creating a universal marketplace for people willing to monetize their trading skills, as well as investors, seeking a passive income. It’s an open market of money-makers, so to speak. Just like Craigslist or Ebay created services, that connected people willing to buy with people willing to sell, we are creating a service that would allow investors, who don’t have the necessary skill or knowledge to carry out trading operations, to invest funds into skilled fund managers, all backed up by blockchain and smart contracts.
A basic premise in the theory of evolution is that species must adapt to a changing environment in order to survive. This holds true for companies as well as flora and fauna. We believe that we are creating the next logical step in the evolution of the asset management industry.
Q: What benefits can traders and investors get from Genesis Vision?
A: We are creating a 360-degree solution that benefits all of the market participants.
Benefits for investors, except for obvious examples like passive income, include complete transparency, and an internal exchange, which gives an investor a level of control over their funds within the framework of an asset management module.
We seek to offer our investors not only everything, that a regular existing PAMM would offer, but more. Not only a skilled fund manager of your choice operating your funds but to also have the transparency and integrity, associated with the nature of blockchain technology.
As for managers, everything is quite simple as well. Apart from more funds to manage, which inevitably leads to more income, managers can monetize their skillset, using our platform, and receive income both from more funds under management, as well as in managerial fees.
But that is far from it since you could have already gotten that from a regular asset manager.
The most important benefit that we see for our managers is the fact, that only their skill speaks for them. You don’t need to care about the marketing, you don’t need to care about a website, staff, reputation, anything. The only thing you need to care about is your consistent good results. In a fair and open market, your figures will do the talking.
Q:Are exchanges interested in joining Genesis Vision? If yes, can you name them? If no, what’s your approach towards adding them?
A: A simple answer would be yes, but unfortunately we cannot yet disclose any particular names, due to NDA. But why wouldn’t they want to join?
Our system does not jeopardize their own clientele. It does not tarnish their brand. All they receive is the increase in trading volumes, the most advanced PAMM system, integrity from the third-party verification of their trading practices, as well as a bit of exposure. It is the true definition of a “win-win situation” in our book.
As for the approach that we choose towards adding new brokerages and exchanges, it always stays the same. We want to develop a product, that will attract them like a magnet. We don’t need to have a headache over the approach, as long as we develop the platform equivalent of the “offer you can’t refuse”.
Q: What about your new project Genesis Markets? How will it change the crypto trading market?
A: Genesis Markets is a crypto broker and it’s one of a kind, the first of its kind in fact! It is not only the first crypto broker to introduce altcoin trading using the most advanced and eminent trading terminal MetaTrader 5, that is the choice of millions of conventional traders all over the world, but it will also use an aggregation of order books and trading instruments from different exchanges, connected to the broker.
You all know, that crypto exchanges have a specific roster of cryptocurrencies, that changes with every exchange. You all know the headache of transferring your coin stacks from one exchange to another, just because your token of choice is not being traded on your current one.
And you definitely know the struggle of selling a big stack of coins on a relatively small exchange, that lacks liquidity.
Well, with the help of aggregation, Genesis Markets solves all of this. All of the coins and tokens, as well as order books from multiple exchanges are united, merged and accessible from one single destination – the Genesis Markets crypto broker.
Q: You speak about the use of blockchain and smart contracts. How exactly are you implementing them within Genesis Vision? Also, why are they needed to be integrated into the first place?
A: Blockchain and smart contracts are the backbones of Genesis Vision. We firmly believe that the integration of these technologies within the fintech industry is the most felicitous choice.
Simply, it just works.
We use the IPFS protocol to record the trading history of all of our managers. This way we provide all of the necessary tools for our investors, to ensure they can carry out their own due diligence. Smart contracts are used for the distribution of profit, which makes the process automated and does not change the trading process of the manager in any significant manner.
Back to the question of the necessity of these technologies. Blockchain gives us, and most importantly our investors the desired transparency, which the conventional asset management module so desperately lacks into days world.
Q: How does a novice differentiate between a good trading strategy and a bad trading strategy? What if the experienced traders we hire – pardon my French – fuck up?
A: Yes, that can and will happen from time to time, there is no denying that. But think of our platform as your classic exchange, but rather than goods, you invest in people. Some of the companies you have invested in will flop and go bankrupt, while others will show you multiple digits of profit.
The same logic applies here – there will be good and bad managers, and the free open market will decide which ones are which. But nothing stops you from differentiating your investment, hedging yourself from the possible risks.
One more thing you should also take into consideration is the planned introduction of the internal exchange. It’s a place, where our investors will be able to purchase and trade the manager tokens. This will give our investors an additional leverage, where they will be able to sell manager tokens to recuperate some of the losses, or even gain significant profit.
For differentiating a good investment program from a bad one, we have different levels of analysis, depending on the investor’s experience. Starting from the levels of the program, ending with complete statistics on transactions in the blockchain. Absolute profit figures, graphs, levels and overall rating among all managers will be easy to grasp, even for a novice!
Q: How does your platform fare in terms of regulations? Are you only crypto-based or is there scope for fiat-conversions?
A: Unfortunately, it is too early to talk about this, both due to NDA and the current crypto climate. One thing we can say for sure is that we are planning a fiat gateway, and we’ve been in negotiations for quite a long time now.
So even though we can’t provide our investors with any certain ETA at the moment, we are sure that it will eventually be possible to enter Genesis Vision using fiat currencies.
As for the regulation, it is definitely a question of huge importance, not only for our investors and clients but mainly for brokers, exchanges, banks and other miscellaneous companies we will be working with or in tandem with each other. They require the highest standards of regulation and licenses, and we will be able to provide them with anything that is required for a full-fledged and profitable cooperation.
The post An Interview With Genesis Vision’s CMO, Artur Bagdasaryan appeared first on NewsBTC.
ALZA is an off-chain technology designed to make micropayments involving cryptocurrencies better, and that’s their official line. So, NewsBTC Group caught up with Nate Zou, one of the co-founders at ALBA to find out more. Here are few questions and responses that gives us a better idea of what they are out to achieve.
Q: What problem does ALZA specifically solve in the industry today?
A: ALZA solves problems associated with small throughputs, latency, and high transaction fees.
The core elements in the generation of Blockchain technology are decentralization, scalability, and security. BTC lacks scalability, allowing only seven transactions per second. ETH is slightly better allowing 20 transactions per second.
EOS achieved commercial-level scalability, with tens of thousands of transactions allowed per second. But this increase comes at the cost of being more centralized and susceptible to manipulation. It also gives up security, with a potential to expose sensitive customer info to the public.
Q: ALZA purports to offer a hybrid blockchain solution that enables real-time transaction and on-demand settlement at ultra-low costs. How does it keep costs down?
A: We use off-chain technology that allows transactions between nodes to be processed within our payment field (which is off-chain) and handle money settlement in batches. In this case, we bring the cost down by splitting one on-chain transaction fee into multiple off-chain transactions.
For example, A coffee shop can establish its own payment field. All the customers will join this payment field when they enter the coffee shop and purchase coffee. In this case, the coffee shop will be the leader of the payment field, since it conducts most of the transactions between all participants. Each coffee sale between the coffee shop and a customer is a transaction. And all the transactions are processed off-chain within the payment field. The owner of the coffee shop can make the decision of when to report to the main ledger.
Let’s assume the owner of the coffee shop decides to report to the main ledger once a day. That means all the transactions happened in payment field in one day can be combined into one on-chain transaction. And the coffee shop owner will only need to pay one transaction fee to the main ledger, even if this one report to mainchain contains thousands of transactions.
And all the money settlement between the coffee shop owner and customers will happen after the coffee shop owner sends in the report to the main chain.
Q: How is privacy and security protected for all participants?
A: All the individual transaction details are encrypted off-chain before synced with public chain. In this case, without transaction participant’s approval, no one can view transaction details.
Take coffee shop example again. Before the coffee shop owner reports the transactions to the main ledger, all the transaction detail information will be encrypted. Therefore, after the transaction information is synced with the main chain, the sensitive information associated with the transaction will not be exposed to the public. However, it provides an option for third-parties to access the encrypted information, only with the approval of participants to the transactions.
Q: What differentiates ALZA from a vast selection of other projects looking to use blockchain technology for similar purposes?
A: Our payment field technology delivers the best performance with security and privacy in mind.
ALZA approaches the problem with real-world customers in mind. We balance multiple factors like performance, cost, privacy, and ease of use.
We believe that the evolution of blockchain technology in real world usage is not going to happen overnight. Instead, it is a long journey where both technology and customers need to make compromises to achieve their goals.
Q: Can ALZA really complete millions of transactions in one second?
A: Yes. With our off-chain transaction processing technology, we are able to complete millions of transactions in one second. Also, the supernodes on main ledger are able to support and maintain thousands of payment field at the same time.
We will not be able to hit our TPS goal in one night, we have a clear plan and road map to follow until we hit the goal. For more details, please visit our website www.alza.io, download the whitepaper and review our roadmap.
Q: Where is ALZA based, and what is the regulatory environment like there?
A: We are based in Silicon Valley, California
We are aiming to build an infrastructure where application developers can build their apps based on our technology. Therefore, our development works are not highly regulated by U.S. government.
Q: What are your thoughts on the current regulatory environment for cryptocurrencies and initial coin offerings, worldwide?
A: Even though in a super early stage, blockchain as an industry grows faster than anyone can imagine. Therefore, governments around the world are not fully prepared to put regulation around it yet. However, I do believe have regulations around ICO is good for the entire industry. It requires all the teams who work on blockchain project to be more careful and mature and also helps to protect investors‘ investment.
Q: What do you identify as the biggest challenges or problems the blockchain industry currently faces?
A: Since the dawn of blockchain technology, the digital currency community has intently pursued the dream of integrating such technology with real-world business. In the past ten years, blockchain has undergone three eras of innovation:Blockchain Era 1.0 is represented by Bitcoin, which is barely capable of practical application; Era 2.0 is marked by Ethereum, whose main purpose is to build the foundation for Initial Coin Offerings of various digital currencies; and the recently famous EOS led to Blockchain Era 3.0, with the potential to engage in business activities across industries.
From BTC to EOS, the core elements of all generations of public chain technology are decentralization, scalability, and security. BTC suffered in scalability, allowing a maximum of 7 transactions per second. ETH was slightly improved to allow 20 transactions per second. EOS, for the first time, achieved commercial-level scalability, with tens of thousands of transactions allowed per second, but the cost of being more centralized and susceptible to manipulation by oligarchs.
Q: Where do you see blockchain technology in 5 years?
A: The future of blockchain technology is bright. The technology itself has so much potential and can be much better than existing technologies that powers our payment solution today. The key here is to build a strong foundation where developers community can build their application upon it.
Q: You are the founder of the project — but what excites you most about working at ALZA?
A: As the product manager of one of the largest payment processor in the U.S. I have been following blockchain technology for almost 3 years. Especially in the past 18 months, I have seen how fast the blockchain technology grows. Compared to the technologies we use today in our current payment process, for example, our banks, credit cards, payment processors etc. blockchain is a much better technology and is much better than the ones we used for the past 50 years.
I see new ideas in my job every day that cannot be implemented because of the technology constraints. For example, small business owners today need to wait 3-5 business days to get paid for the services, simply because current payment solution need 3-5 business days to process the payments. This harms our people and economy. The current solution used by banks or payment processors cannot solve it. But with blockchain technology, it will all become possible. This is why I started ALZA, we want to contribute to blockchain technology, make us one step closer to a better world.
Waves, a popular open-source blockchain platform that allows users to launch their own custom cryptocurrency tokens, has officially addressed the false rumors and fake news currently being circulated by less reputable sources in regards to the liquidation of the UK-registered Waves legal entity.
Contrary to many unfounded and incorrect reports, the Waves platform is currently not in any danger — quite the opposite, in fact.
According to an official statement on the company’s blog, the Waves Platform remains fully active and any information on the project’s bankruptcy is false. Furthermore, the company has remained truthful and transparent in following the interests of its investors, and any actions currently taking place are “in total compliance with business ethics and all initial agreements.”
Instead of faltering, the project is currently being streamlined to increase Waves’ overall performance.
The UK-registered entity in question was reportedly active during the project’s early stages and was used primarily for the purposes of marketing and promoting the project. Said entity simply no longer fit into Waves’ business model, and is not representative of any internal or financial issues at the company. Explained Waves’ founder, Alexander Ivanov:
Waves UK company was active in the initial stages of the platform development as a purely operational company. It was announced several months ago that we’re setting up our corporate headquarters in Switzerland, as Switzerland is the major hub for blockchain startups in Europe. The official announcement of the board of directors and launch in Switzerland is scheduled for the end of June. We’re in no way discontinuing our activities in other European countries, including those in the UK. Just the contrary, we’re planning to launch our London office in mid-July.
Waves Platform AG already moved its headquarters to the famously cryptocurrency-friendly country of Switzerland in December of last year.
Contrary to many opportunistic reports floating about, Waves simply chose not to renew the UK-registered entity’s registration in the less cryptocurrency-friendly nation. The Waves team explained:
The change of jurisdiction will allow the project to enhance relationships with counterparties and expand to new markets. The official announcement of company’s launch in Switzerland and the names of advisory board members is scheduled for the end of June 2018.
The Waves team has also noted that the failure to renew the UK-registered entity is actually for the benefit of both the platform’s users and investors. The company stated:
Streamlining is a standard procedure in any international company. Waves moving to Swiss jurisdiction is done solely in the interests of our investors and users, it does not pose any potential threat to them.
The post Waves Addresses False Rumors, Is Already Headquartered in Switzerland appeared first on NewsBTC.
President of China, Xi Jinping, expressed his admiration and hopes for blockchain technology at a meeting with the Chinese Academy of Sciences and the Chinese Academy of Engineering.
Xi pointed out that blockchain technology, which underpins Bitcoin, has been accelerating the rate of “breakthrough applications.”
He also noted that he holds interest in other upcoming technologies, such as Artificial Intelligence, the Internet of Things and mobile communications.
These technologies singled out by the Chinese president are coincidentally the technologies which IBM has also shown interest towards. Just last week, IBM’s CEO, Virginia Rometty, announced that IBM is focusing on AI, Blockchain and IOT technologies and is hoping that these technologies will be transformative in today’s society.
China has historically been a popular place for cryptocurrency use and blockchain development. However, reports released last year have shown that China’s government is trying to stem the flow of cryptocurrencies in the country.
Last year in September, China banned the participation and creation of so-called ‘Initial Coin Offerings’, or ICOs as they are more well-known by the cryptocurrency community.
However reports show that China has and is continually trying to stop the trading of cryptocurrencies in the country altogether, especially transactions which facilitate the transfer of Chinese Yuan to cryptocurrencies.
Many market analysts and critics find it rather odd that China heavily supports blockchain technology, but is hesitant to allow cryptocurrencies to take hold in the Chinese market. Some speculate that this is due to the fact that China’s handle on the economy would falter, as cryptocurrencies are decentralized and global technologies by nature.
Earlier this month, Huobi, one of the most Asian based exchanges, announced that they would be developing a blockchain ‘incubator’ program in Hainan Province in China. Huobi’s press release noted that this $1 billion project garnered support from the highest levels of Chinese government, with the release specifically stating:
“It is a national-level strategy that President Xi Jinping, personally planned, personally deployed, and personally promoted.”
Huobi plans to help bolster blockchain development by providing funding, advice, resources and manpower to promising cryptocurrency startups based in China. However, Huobi also noted that this move is also being made to help strengthen China’s economy and involvement in cryptocurrency related industries.
Chinese blockchain consulting and incubator firm, Liaoyuan, was one of the first Chinese companies to hold a blockchain conference, citing that over 100 people flew from China to New York to attend Liaoyuan’s ‘Blockchain Without Borders’ conference.
Despite China’s aforementioned negative attitude towards the topic of cryptocurrencies, it has become apparent that China is planning on becoming a mainstay in growing technology-related industries.
The growth of blockchain development and interest in China shows no signs of slowing, with many analysts expecting an even larger ‘Blockchain boom’ to arrive in China in the upcoming years.
The post Chinese President Says Blockchain is a Breakthrough Technology, Expresses Optimism appeared first on NewsBTC.