All posts by Thomas_Prendergast

Vitalik Buterin Confirms Ethereum’s Proof of Stake 75 Percent Complete

Vitalik Buterin Confirms Ethereum’s Proof of Stake 75 Percent Complete

At the Taipei Ethereum Meetup,

Vitalik Buterin, one of the co-founders and lead developers of Ethereum, revealed that the development of a proof of stake protocol for the Ethereum network is 75 percent complete. Prior to the announcement of Buterin, in a recent interview, Ethereum Foundation member and Ethereum co-founder Hudson Jameson released the foundation’s official roadmap for Ethereum development in 2017. The roadmap included the foundation’s plans of releasing the next version of Ethereum called Metropolis in three to six months and following that update with a switch of consensus protocol from proof of work to proof of stake.

Vitalik Buterin reaffirmed the Ethereum development roadmap laid out by Jameson and emphasized that Ethereum will most likely switch to a proof of stake protocol by the end of 2017. At the Taipei Ethereum Meetup, a community of over 500 members that focuses on the discussion of Ethereum and blockchain innovation,

Buterin stated:

“We are working on a daemon that actually interacts with a Casper [smart] contract and sends transactions to it. That is the first part. The second stage is that we will write clients that are aware of Casper contracts.”

In regard to the development of Casper, Buterin stated that it is over three quarters completed.

What is Casper & Proof of Stake

Since 2015, Ethereum developers actively have dug into the development of Casper and a proof of stake (PoS) protocol. PoS and proof of work (PoW) are consensus protocols that allow stakeholders or miners to come to an agreement on various issues and verify transactions on the blockchain. For instance, if the Bitcoin network is to agree upon a hard fork, miners have to signal their hash power to approve the fork. Also, in a proof of work protocol, miners have to allocate their hash power to verify and confirm transactions.

PoS is different in the way that it considers stakeholders as the majority and it does not utilize the hash power of miners to verify or confirm transactions. In a PoS protocol, miners do not exist. The largest stakeholders in the network are forced to play by the rules and verify transactions. Ultimately, the economic issue of switching to Casper or a PoS protocol comes down to the incentives for stakeholders. How stakeholders are incentivized or benefited for verifying and confirming Ethereum transactions.

The Ethereum Foundation and Buterin’s perception of a PoS system is that everyone within the protocol is technically a miner and therefore unless they choose to lose their stake of Ether by playing against the rules, every user will verify and confirm transactions in a fair manner. Essentially, the foundation and its developers believe this is the ultimate decentralized governance system that increases participation of stakeholders of the network.

In an interview on January 18, Buterin stated that once completed, Casper will be tested across all seven clients of Ethereum in a testnet. If the testnet experiment of Casper is successful, developers intend to move it to production and release its final code by this year. Currently, various blockchains including NXT, BitShares, and Peercoin operate on the PoS protocol. Some utilize a hybrid system between PoW and PoS to optimize their networks’ efficiency.

However, despite the success of the aforementioned blockchain networks, leading blockchain company and mining firm BitFury noted in its whitepaper that a PoS protocol is vulnerable to a wide range of attacks such as long-range attack, bribe attack, Coin Age accumulation attack and precomputing attack that could result as long-term issues for the network.

“Currently, there are several digital currencies implementing some form of proof of stake consensus including Peercoin, Nxt, Novacoin, BlackCoin, and BitShares. However, pure proof of stake approaches pose substantial security threats that cannot be recreated in proof of work systems (including Bitcoin). These problems are inherent to proof of stake algorithms, as proof of stake consensus is not anchored in the physical world (cf. with hashing equipment in proof of work),” BitFury’s white paper.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Litecoin: Supplanting Bitcoin as the Cypherpunk Cryptocurrency?

Supplanting Bitcoin as the
Cypherpunk Cryptocurrency?

June 2017 may be remembered as the month that the true ‘flippening’ occurred,

from bitcoin to litecoin, precipitated by a Prague-based group promoting and educating the public on crypto-anarchist philosophy. The stakes are high for bitcoin, with a face-off between Bitmain, threatening a User-Activated Hard Fork, and those seeking to eliminate miner influence over SegWit adoption, the User-Activated Soft Fork crowd. The standoff threatens to split the network in two, with the UASF-styled ‘independence day’ slated for August 1. The inertia regarding progress in the scaling debate is also causing a cost for users in terms of higher fees for a bitcoin transaction.

The chart below shows that since June 2016, the median transaction fee for bitcoin and litecoin have decoupled, with a $2 differential. Consequently, we are seeing a higher average transaction value over the same period for litecoin, with spikes visible from April/May 2017 onward. As a fork of bitcoin and pursuing an independent path, litecoin could supplant the world’s most valuable cryptocurrency as it gains traction in terms of adoption, trading interest and development activity.

Litecoin Exceeds Bitcoin on Volume Terms

The altcoin recently saw a large influx of volume, pushing above 50 percent of the cryptocurrency’s market capitalization and above trading volumes for bitcoin on June 17. At the time of writing, the past 24 hour volume for litecoin and bitcoin are similar, roughly $1.2 billion. The lion’s share of volume is coming from two Chinese exchanges, Huobi and OKCoin, accounting for over 40 percent of the volume over the past 24 hours.

Also, looking at the charts below we see the highest ever volumes on a weekly basis for several exchanges such as Kraken and Coinbase. Trading volumes precede price action, suggesting litecoin will continue to experience appreciation. Higher volumes also tell us that more investors are becoming interested in litecoin, more so than any other cryptocurrency.

For the week beginning June 12, the market has managed to break the previous all-time high at $36, opening up the Fibonacci extension level at $56.47. We also see that the bullish break was also signaled by the weekly close for the week beginning June 5, where the market broke the resistance provided by the lagging line (purple, highlighted above), which BTCManager stated would be a key buy signal in our cryptocurrency report on June 6 .

The uptick in trading volume, along with the price rise, has seen litecoin knock Ethereum Classic from the number four spot on the market capitalization ranks. According to, litecoin’s market cap is now $2.38 billion versus Ethereum Classic’s $2.04 billion. The influx is expected to continue in June, as Bitstamp, the first fully-licensed bitcoin exchange in the EU and one of the biggest in the world, will introduce LTC/BTC, LTC/EUR and LTC/USD trading pairs on June 19.

Looking at the long-term technicals, that is the monthly price action, we see that LTC-BTC has a strong chance of continuing its upward trend. A bottom was formed in March, as indicated by the lagging line (purple), which formed a trough and the market closed above the conversion line for April 2017. The market now lies immediately below the base line, providing resistance at 0.0177. A close above this level for June’s candlestick will point to further appreciation and a test of resistance at 0.0322. Also, notice that the Awesome Oscillator has moved into positive territory for the first time since August 2014, indicating that long-term bullish momentum is just beginning to take hold.

Litecoin Welcomed by Bitcoin Pioneers

On top of investor and exchange adoption, litecoin is also seeing interest from a cypherpunk grassroots movement and a major hardware wallet provider, Trezor. Paralelní Polis, which hosts the Institute of Cryptoanarchy and the Hackers Congress every year, as well as Bitcoin Coffee, is probably the most significant actor in this true ‘flippening’; maybe we should forget ether and come to terms with litecoin becoming the cryptocurrency that may stand dominant above bitcoin?

In a blog post explaining the switch over from bitcoin to litecoin, the coffee house started with one clear rule; no fiat currencies. They started with the goal in mind to show people that cryptocurrencies are easy and that they are the future. But, they argue, bitcoin transactions are now too similar to traditional banks in terms of fees. The rising fees have forced their hand into deriving their own solution for

Regular customers:

“We even had to develop our own application for members and regular customers, which would buy credits for bitcoins and then spend those credits to avoid bitcoin fees.”

Resonating with many other voices in the community, they also explain that the risk that UASF bears is perhaps too high, as a chain split would be unavoidable if the support for UASF is low; they state, “it is unacceptable for any business running on bitcoin.” Because litecoin is so similar to bitcoin in terms of its codebase, it is easy for businesses to switch. Also, Paralelní Polis argued that with the SegWit activated on litecoin, this makes the cryptocurrency the most technologically advanced at present, with developers able to deliver new scaling services such as Lightning Network, echoing the sentiment from Bitstamp.

The post concludes that bitcoin will still be accepted as a payment method, but will not be their recommended method. Instead, they will educate and promote the use of litecoin as a cryptocurrency that better fulfils the role of a payment, rather than as a store of value: “We encourage everyone to start accepting Litecoin, as it is now one of the main ways to regain financial and economic freedom.”

The Hackers Congress 2017 will focus on financial liberation, held in October, and it will be interesting the see how much litecoin will have developed by then. Given that it is being praised by such a forward-thinking and pioneering group, we could be witnessing a radical new shift in the cryptocurrency world. As reported by BTCManager in September 2016, litecoin is actively pursuing anonymity features with Confidential Transactions and this could be one of the developments that we could expect in 2017. June 2017 also sees the announcement of the first hardware wallet to support SegWit, following closely from Trezor’s integration of litecoin. With a cold storage option, this should serve to continue to increase demand for the crypto-asset.

A Boost for Development Activity

Litecoin’s drive forward is also being galvanized by greater development activity. On June 9, Charlie Lee announced he would be leaving Coinbase, a large successful company, to work on the altcoin full-time. Shortly afterward, the Litecoin Foundation received a donation for approximately $14,000.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Blockchain Startup Everledger Partners with Singapore Diamond Exchange and Kynetix

Blockchain Startup Everledger
Partners with Singapore Diamond Exchange and Kynetix

Everledger, the London-based startup that uses the blockchain

to securely store data and provide provenance for high-value physical assets such as diamonds and artwork, has entered into a partnership with the Singapore Diamond Investment Exchange (SDiX) and physical commodity markets expert Kynetix. The Singapore Diamond Investment Exchange (SDiX) is the world’s first commodity exchange in physically settled diamonds. The exchange is also the first fully electronic self-regulated marketplace for traders and accredited investors powered by real-time transaction data. The exchange revealed the new partnership through a press release on June 15.

Kynetix is a leading physical commodity digitization expert that has developed a platform called Sentinel that allows commodity exchanges and trading companies to meet the challenges associated with compliance, automation, risk and revenue generation. Sentinel’s sophisticated post-trade software powers quick processing time for large-scale physical deliveries. The three companies have successfully concluded the first part of its proof-of-concept for a blockchain-based authentication and record-keeping service for trading diamonds on a global commodity exchange.

Everledger’s blockchain technology will be used to verify the ownership and authenticity of the diamonds, which will be queried through Kynetix’s Sentinel market infrastructure platform. This will enable owners of diamonds with certificates of ownership from third party verification laboratories to ascertain the history and confirm ownership of their asset.

The head of Business Development at Kynetix, Guillaume Kendall said: “In line with our mission to build total trust in physical commodities, we believe this innovative integration of our Sentinel platform with blockchain is yet another step towards reducing the risks associated with trading and financing commodities globally.“ Once a trade happens on SDiX, the changes in the ownership of the diamond will be automatically recorded on the blockchain, which ensures proof of ownership is securely recorded due to the blockchain’s immutable nature. This record is then made easily available to all relevant market participants.

Everledger founder and CEO Leanne Kemp said: “It was a pure technical delight to integrate with Kynetix, a powerful combination of technology and purpose entwined. We are pleased to provide the market-leading blockchain infrastructure that is key to SDiX’s verification, and data archiving services and look forward to working industriously with the market on creating purposeful tooling to enable safe and fast trading in physical diamonds.”

The service was able to verify the details of a consigned diamond basket on SDiX consisting of Gemological Institute of America (GIA) certified stones using the data points that are used by Everledger in its provenance process. The solution was able to output a “view receipt” of the digital certificate for each stone in the basket, housed on the blockchain, proving its efficiency.

The CEO of the Singapore Diamond Investment Exchange Linus Koh, said: “This exciting collaboration builds on SDiX’s record of delivering advanced technologies to enable a trusted, fair and transparent marketplace for trading diamonds as an investable asset class. This new concept draws on blockchain’s distributed ledger capability to demonstrate how we can further instill confidence and convenience for the benefit of diamond investors and financiers.” This new system is expected to be applicable as a solution to a wide range of diamond market challenges such as enhancing provenance data, increasing the security and efficiency of the supply chain, as well as helping to develop new risk management tools.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Bitcoin Price Hits New All-Time High, Overall Market Cap Crosses $100 Billion

Bitcoin Price Hits New All-Time High, Overall Market Cap Crosses $100 Billion

As Bitcoin and Ethereum – the engines driving the recent cryptocurrency surge

– neared new all-time price highs, the overall market capitalization crossed the $100 billion mark. Bitcoin was trading just short of the $3,000 mark, while Ethereum touched a high of $256. For the first time, cryptocurrencies together crossed $100 billion in market capitalization. The year has witnessed a lot of movement in the virtual currency space, primarily led by a string of positive news and sentiment around Bitcoin and Ethereum. This resulted in a multiplier effect for most cryptocurrencies.

Bitcoin continues to dominate

the market and alone accounts for 46% of it given its market capitalization is a little over $46 billion. The virtual currency has tripled in value from around $950 in the beginning of 2017, to a price hovering around $2900. This rise hasn't been without volatility. Bitcoin prices took a hit, dropping to $900 levels from $1300, when the SEC disapproved of the Bitcoin ETF promoted by Cameron and Tyler Winklevoss. It eventually recovered on a positive statement by SEC about the future course.

Further, the growing recognition of Bitcoin as a legal mode of payment and the evolving positions of regulators in certain countries have been major drivers of its movement during the year. Japan and Philippines have recognized the cryptocurrency as a legal method of payment. The Ministry of Finance in India has constituted a committee to examine the existing framework around Virtual Currencies (VCs) while Russia, which has been particularly hawkish, is expected to legalize Bitcoin and other cryptocurrencies as financial instruments in 2018 to combat issues related to money laundering. Bitcoin corrected to the sub $2000 mark during the last week of May. However, strong demand from China, Japan, Philippines and South Korea continues to fuel its price rally. Greater use of Bitcoin for facilitating remittances is one of the major factors behind the high demand for it in these countries where it continues to trade at a premium.

Ethereum (ETH) the second-largest cryptocurrency

also hit its lifetime high at $256 on the back of upbeat atmosphere in the segment. Ethereum commands almost one-fourth of the overall market capitalization. The rise of Ethereum has been spectacular in the year and driven by the rising enterprise interest and strong use case. (See also: Understanding the Reasons Behind Ethereum's Price Rise) The other cryptocurrencies in the top seven are Ripple, NEM, Ethereum Classic, Litecoin and Dash. Ripple, the third-largest cryptocurrency, currently has a market capitalization of around $11 billion, while the remaining have a minor share in the overall market. Despite the smaller share, events like the successful activation of SegWit in Litecoin have strengthen the confidence of traders across the market.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Thereum’s Market Cap Looks to Overtake Bitcoin’s

Thereum's Market Cap Looks
to Overtake Bitcoin's


Bitcoin has led the cryptocurrency revolution for nearly a decade.

In the process, it has become the most recognizable name in the new world of digital currencies, and for many years it dominated the industry by maintain a position of 80% or more of the total cryptocurrency market cap. In the past few months, Bitcoin has also skyrocketed in price, practically tripling in value since the beginning of the year. And yet, in spite of these indicators of its dominant status, there is reason to believe that one of Bitcoin's competitors, a much newer cryptocurrency called Ethereum, is on pace to overtake the iconic digital currency in at least one respect: market capitalization.

39% to 31% As Of Last Week

By Wednesday, June 14th, Bitcoin had seen its share of market capitalization drop from 87% among all cryptocurrencies down to 39%. This sharp decline is in stark contrast to the precipitous gains in value that have accompanied the coin over the same time period of roughly the past four months. At the same time, Ethereum has seen its share of the total market capitalization of digital currencies rise by a considerable amount, too. From 5% of all market capitalization just four months ago, the two year old currency has now claimed nearly a third (31%) of all market capitalization for the industry. A graphic representation by analysts at CoinMarketCap reveals both the extent of Bitcoin's former dominance in the cryptocurrency field as well as the rapid shift which has brought Ethereum much closer to Bitcoin's level.

Analysts Predict "The Flippening"

Analysts have developed a term to categorize a time at which Ethereum overtakes Bitcoin in terms of market capitalization, as some cryptocurrency followers have expected to happen. "The Flippening" refers to this shift in dominance in the field and, some say, may indicate a permanent shift in which Bitcoin steps out of the spotlight in the cryptocurrency world. The Flippening could occur for a number of reasons. Bitcoin has long been the most dominant cryptocurrency, but it also suffers from significant problems of scaling which have threatened to dismantle the entire cryptocurrency system. Ethereum, on the other hand, having been developed much more recently, may have been able to anticipate some of the issues that Bitcoin's creators did not when they first programmed the code a decade ago. In doing so, Ethereum, could find itself in a better position for long-term growth than Bitcoin.

As of June 14th, Bitcoin's market cap hovered around $45 billion, with a price per coin just below $2800, according to a report by Market Watch. Ethereum's market cap was roughly $36 billion at the same time, with a price per token of $390. In some ways, Ethereum may have already overtaken its older brother: a Motherboard report suggests that Ethereum has "almost five times as many nodes in its network as Bitcoin, meaning more people are using their computers to support it."

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

National Bank of Abu Dhabi Adopts Ripple Cryptocurrency Software

  • Why Bitcoin, Ethereum, Ripple Fell. The Correction Explained

Although it is often overlooked by investors more eager to focus on Bitcoin and Ethereum, Ripple has several factors in its favor in comparison with the rest of the cryptocurrency field. The currency, now sporting the third-largest market capitalization in the industry, is designed for seamless transactions which can be settled by banks in real time. The result is that transaction fees can be kept down for both banks and individual customers. Considering that long transaction settlement times and unstable fees have been two of the largest barriers to cryptocurrencies generally breaking into the broader financial world, Ripple seems poised to become a favorite among financial institutions. Now, the National Bank of Abu Dhabi has announced its adoption of the Ripple protocol for some of its transactions. Will this be the impetus that Ripple needs to garner more attention around the world?

National Bank of Abu Dhabi to Use Ripple for Cross-Border Transactions

Late last week, the National Bank of Abu Dhabi announced plans to adopt the Ripple protocol for all cross-border transactions. According to Live Bitcoin News, the National Bank has indicated a particular interest in enhancing the experience of its customers, and bank leaders seem to have agreed that blockchain technology can be a useful way of doing this. When it comes to selecting from different blockchain technologies, Ripple has won out, and perhaps for good reason. Ripple is focused on facilitating cross-border transactions and may be used to complete transfers across multiple distributed ledgers.

The National Bank of Abu Dhabi will reportedly integrate the Ripple protocol into its existing infrastructure. The result is that regional customers of the bank will have the ability to transfer funds to beneficiary accounts instantly. All of their transactions will take place in real time. That the United Arab Emirates, the home of the bank in question, is one of the top remittance-sending countries in the world, suggests that the Ripple technology will be put into broad use through this partnership.

Ripple Continues to Gain Attention

Ripple technology has gained increasing levels of attention in recent months as banks around the world have shown interest in its real-time payment flows. It is likely that other banks will be watching the results of the Abu Dhabi integration carefully to see how Ripple's distributed ledger system holds up under pressure. In the meantime, Ripple's currency, XRP, has grown considerably in price but has failed to see the same recent rally results that Ethereum and Bitcoin have. Should the technology prove successful in this latest partnership, perhaps Ripple will see concurrent benefits to its currency prices as well. If that is the case, Ripple may see even more banks around the world looking to enter into partnerships.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

“Can’t Infer Every Organization Will Use Ethereum Blockchain”

“Can’t Infer Every Organization Will
Use Ethereum Blockchain”:

Agrello Chief Scientist


Agrello is designed to be a cross-organizational network.

It calls itself blockchain-agnostic.  “You can’t simply infer by default that every organization will use Ethereum blockchain,” says Agrello Chief Scientist Alex Norta. “Some organization might prefer to use Quantum, Lisk or a variety of other such platforms.” Some even take Ethereum and make it their own. Agrello therefore seeks to place legal systems on a blockchain (or multiple blockchains), and has adapted a multi-blockchain approach to legally-binding smart contracts. With that said, the company announced last week it would ‘homestead’ – that is, primarily build upon – the Ethereum blockchain system.

But, Agrello doesn’t believe blockchain can do such heavy lifting on its own, pledging to integrate artificial intelligence with the blockchain technology pioneered by Ethereum. Belief-desire-intention (BDI) software enables AI agents to prioritize action. Agrello contends this is the only way to make smart contracts work. By fusing the world’s of artificial intelligence and blockchain, Estonia-based Agrello strives to deploy a distributed platform the legal system. While the platform has announced compatibility with multiple blockchains – including Metaverse, Antshares, Lisk, Qtum, RSK, Ethereum Classic, and NEM – its developers announced last week it would develop its fundamental prototype on Ethereum.

Agrello’s platform could enable everyday users to create their own legally-binding agreements on a blockchain through smart contract agreements. Central to its design is the automation of resource allocation in its multi-blockchain system, according to the blog post by the company announcing the Ethereum focus. Smart contracts, the Ethereum-technology explored by blockchain consortiums, has heretofore been inaccessible to the everyday user, the company contends. Especially when it comes to an official use such as the legal industry. Agrello is determined to create ‘plain English’ smart contracts. That Agrello’s system includes a “graphical interface”, says the company’s Lead Engineer, Alex Norta, will make smart contracts easy to assemble.

It’s easy to see why Agrello would incorporate the Ethereum blockchain. Having been experimented upon by multinational technology firms and financial institutions, developers flocked to Ethereum quicker than any other blockchain format, including Bitcoin. “Operating at the intersection of the legal system, financial institutions and disruptive technologies, Agrello is highly dependent on the establishment of good industrial relationships with the off-chain world,” wrote Hando Rand, Agrello Chief Executive Officer, in the company’s blog post. “We regard the work done by the Ethereum foundation on this matter as invaluable, and seek to be an active player in the field, lending our hand to promote this effort even further.”

Rand added in the blog: “Agrello employs Artificial Intelligence modules, graphical interfaces, and text-to-code compilers, which will naturally have to operate off-chain,” writes “The function of the blockchain in the Agrello system is mainly as a record-securing device. Proofs of performed obligations, hashes describing Agrello smart agreements, and logs of activity are stored and time-stamped on the blockchain, providing the immutability the Agrello system demands, while the rest of the system can securely run on the client side.”

Agrello’s plan is to make its smart contract technology courtroom ready. “Once we feel comfortable, that our technology can provide for what I explained before, we are also looking to play this through in several courts around the world to already create a precedent, so that our users find it easier to use our contracts in court themselves,” Hando Rand told Crypto Coins News. “We are heading the route that all people doing the contracts have gone through identity verification, which is revealed in a sufficient manner to the opposing contract party.” Despite a dedication to development on Ethereum, Agrello will still develop features for Metaverse, Antshares, Lisk, Qtum, RSK, Ethereum, Classic and NEM. The advantages of each one of the systems are different.

Metaverse highlights its Digital identity functions. Antshares highlights anti-money laundering and know your customer advantages. Lisk highlights blockchain application and sidechains. Qtum highlights its mobile functionality for business. Rootstock (Rsk) highlights its security by merge mining. Nem underscores its API Access, built-in Multisig, a unique Proof-of-Importance (POI) algorithm. Ethereum is known for decentralized applications and smart contracts. With diverse platforms to choose from, Agrello’s announcement of its homestead as Ethereum, hints that Ethereum is continuing to attract developer talent among other cryptographic assets. By homesteading on Ethereum, furthermore, Agrello will be able to issue an ERC-20 token.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Is Ethereum Set to Become the #1 Cryptocurrency?

The Flippening:
Is Ethereum Set to Become
the #1 Cryptocurrency?



Dubbed “The Flippening” by cryptocurrency enthusiasts,

the scenario in which Ethereum surpasses Bitcoin and becomes the number one cryptocurrency has been setting the community abuzz, as it seems it’s only a matter of time before the people’s money becomes number two. Ethereum’s Ether token was worth about $8 in early January, and has surged almost 5,000% this year to reach a $412 all-time high, according to data from CoinMarketCap. Bitcoin, on the other hand, started 2017 at around $960 per coin, and has recently been flirting with the $3,000 mark, before dropping over 10% of its value. Earlier this year, Bitcoin’s dominance was above 80%, but over time Ethereum and other altcoins have been growing at an incredible pace – so much so there are now 7 cryptocurrencies with a market cap above $1 billion. At the time of press, bitcoin’s dominance is at 40.48%, while Ethereum has already gotten to 31.87%.

Ethereum’s incredible surge has been fueled by various factors. Among them, the increasing popularity of Initial Coin Offerings (ICOs) such as that of Brave browser’s Basic Attention Token (BAT), and the success of the Ethereum Enterprise Alliance’s adoption by various Fortune 500 companies, among others. Right now, Ethereum’s total market cap is of $35.53 billion, while Bitcoin’s is at $44.74 billion – less than $10 billion separate the two cryptocurrencies. This is still a huge gap but, as Bruce Fenton put it on Twitter:

“The Flippening is Nigh”

One of the top threads on the r/btc subreddit states that “The Flippening is Nigh”, and in it users are now discussing what went wrong for bitcoin nearly be losing its number one cryptocurrency spot to Ethereum, while pointing fingers at members of the community. According to The Flippening website, however, Bitcoin is still above Ethereum in value and in search interest in Google, as everything else has already been overtaken. Ethereum’s tradng volumes were of $2.346 billion in the last 24h, while Bitcoins’ were of $2.282 billion, Ethereum has a larger number of nodes, and a larger number of transactions being processed.

At the time of press, Ethereum takes up 79.4% of Bitcoin’s market cap. On the r/ethtrader subreddit, Ethereum users are even being encouraged in one of the top threads not to troll bitcoiners. Although most speculate that Bitcoin’s endless scaling debate is what’s stopping the cryptocurrency from escaping the situation, others believe that The Flippening will indeed occur, although only for a short period of time until Ethereum’s bubble bursts. Speculators believe that a lot of ICOs won’t deliver on what has been promised so far and that, as such, Ethereum prices will eventually crash.

Moreover, even if Bitcoin becomes the number two cryptocurrency, it still holds all of its potential. Bitcoin is being adopted by a large number of businesses and is already a legal currency in Japan, for example. If Ethereum manages to overtake Bitcoin and become the number one cryptocurrency for a long time, this only means the impact its smart contracts can have is increasing and that blockchain technology is successfully changing the world.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Top Most Hyped Up Cryptocurrencies Right Now

Top Most Hyped Up Cryptocurrencies Right Now

                             It is apparent there is a lot of excitement in the world

of alternative cryptocurrencies. Plenty of coins are seeing significant value increases, although not all of them will have a place in the mainstream world. Below are some of the altcoins gaining a lot of value as their mainstream potential continues to grow.


Every cryptocurrency enthusiast will have heard of the Augur project. By creating a decentralized prediction market where users can wager on any event taking place at any given time, Augur sees a lot of merit in using the wisdom of the crowd. The platform will be powered with REP tokens, which have seen a fair value increase these past few days. About a week ago, the value per REP was US$5.35, which has now increased to US$10.16. Keeping in mind how there are only 11 million tokens, this value could go up even further in the coming months. Then again, investing in Augur should not be done for short-term gains by any means.


Even though the Factom project is quite intriguing, a lot of people tend to overlook the platform’s native token. Factom stores records on the blockchain and anchors them to the Bitcoin ledger. It appears people are finally realizing the potential Factom holds, as its native token’s value has increased from US$2.63 to US$4.41 in just seven days. Impressive momentum for a somewhat undervalued project.


The rise of Dash‘s value cannot be ignored by anyone in the world of cryptocurrency. Even a DDoS attack against a few hundred masternodes could not disrupt this price increase by any means. Even though Dash’s value is retracing a bit after a steep rise, things are still looking quite positive. Over the course of one month, Dash’s value has gone from just over US$21 all the way to US$90. It even surpassed US$100 yesterday, but the price momentum could not be sustained for long.


Some people will gladly tell you a Monero price increase had to happen sooner or later. Anonymity-centric cryptocurrencies always tend to do well, and several darknet markets have shown interest in Monero as well. Things are looking very good for Monero these past few days, with a value increase from US$12.45 per XMR all the way to US$22 in a week’s time. It is interesting to see Dash and Monero experience growth around the same time.


People who are not glued to the exchange charts right now may have missed out on Ethereum‘s meteoric rise these past few days. Right now, one ETH is worth US$40.98, up from US$18.75 a week ago. Interestingly enough, Ethereum Classic saw its value increase as well, from US$1.33 to US$2.02. Although some people argue these coins are still one and the same ecosystem, there are some major differences between them. In the end, both coins’ market cap is increasing at the same time. Most intriguing indeed.

Chuck Reynolds

Marketing Dept

Please click either Link to Learn more about -Bitcoin.

Top Cryptocurrencies in Japan

Top Cryptocurrencies in Japan

It is evident for everyone to see Japan is going crazy about cryptocurrency

right now. This is made possible thanks to the new regulations going into effect, which removed the 8% sales tax when buying Bitcoin and other cryptocurrencies. It is also interesting to note several cryptocurrencies are incredibly popular in Japan, whereas others are not that hot. All of the coins listed below are ranked based on their JPY trading volume.


Although this particular cryptocurrency has eluded the vast majority of enthusiasts, MonaCoin is quite popular among JPY traders. It is listed on the Zaif exchange, where it can be traded against Bitcoin as well. MonaCoin was also one of the altcoins successfully activating SegWit before Litecoin did.


The native token of the New Economy Movement has seen its fair share of success in Japan as well. It is a currency maintained by a team of Japanese developers. Moreover, XEM – and its NEM blockchain – have made quite a name for itself in Japanese circles as well. Definitely a currency to keep an eye on moving forward.


A lot of people will be shocked to learn Ethereum is not all that popular when it comes to buying or selling it in exchange for the Japanese Yen. Then again, these are still the early days for cryptocurrency in the country, and things may continue to shift around for quite some time to come. Ethereum is very popular when traded against bitcoin, though, as is to be expected.


It comes as quite a surprise to a lot of people to learn Ripple – or to be more precise, XRP – is quite popular among Japanese cryptocurrency enthusiasts. Various exchanges list XRP as one of their trading pairs, and it seems to do quite well overall. In most cases, XRP can be traded against the JPY only There is one big exception to this trend, though. The Mr. Ripple exchange – which is mostly known for buying and selling XRP –  trades the currency against the JPY, USD, Bitcoin, and Ethereum. Its JPY market is by far the largest on the platform, although the XRP/BTC market is quite popular as well. It is quite interesting to see Japanese exchanges dedicated themselves to one particular currency and even naming the platform after it.


Regardless of where one looks in the world, Bitcoin will always be the most popular traded currency against fiat. Japan is no different in this regard, as all exchanges allow for BTC/JPY trades by the look of things. It is due to this trading pair these platforms are so successful during the initial stages of Japanese cryptocurrency adoption.

Chuck Reynolds

Marketing Dept

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