Week begins with Bitcoin and Ethereum Classic leading short-term market gains. #NEWS
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
PlayHall is a blockchain platform for holding regular skill-gaming tournaments and matches between users. In skill-games, your success does not depend on luck but on your skills and intelligence. In matches and tournaments held on the platform gamers will be able to win liquid cryptocurrency, which today can be quickly exchanged for fiat money. All this makes it possible to monetize your time and skills.
Because of the financial dimension of the game, the developers have covered the security issues and possible vulnerabilities in a serious way. The PlayHall team uses blockchain technology and smart contracts as well as the effective decentralization principles to ensure security and reliability of the platform.
The team is launching a demo version of the platform with a limited number of games even before the start of the token sale. Everyone will be able to test the convenience, safety and relevance of the platform.
Platform Decentralization Principles
The PlayHall team uses the principles of decentralization and smart contracts for creating an innovative gaming platform. These principles and the decentralized escrow technology will help to avoid any fraud and forgery of the results of tournaments and matches on the platform.
The full transparency of the platform, its consistency and an easily cryptographically verified software, which provides automation of all processes and transactions in the project ecosystem, guarantee the complete safety of the entire system.
The team’s goal is to eliminate the need for a trusted party or administrator. This will significantly reduce the operational costs of maintaining the system, reducing the commission and increasing the level of payments to gamers. This will also help to eliminate any fraud in the stages of payments to the winners.
Token Types and their Functions
Along with the main PHT, which is an ERC-20 token based on Ethereum Blockchain, the platform provides several types of tokens that will be used by the community members to make decisions by voting. This will provide a virtually perfect meritocratic project management system.
The voting, in which token holders can participate, will address key issues related to business processes and the future vector of project development on the platform: changing the terms of cooperation with game developers and attracting new developers, adding new games on the platform, changing the commission, allocating additional grants to developers, changing voting parameters, developing new functionality and addressing other important issues.
There are eight types of tokens for voting: a common PHT token, a weight token, a time multiplier token, a delegate token, a token committee, game score and games count score tokens and a developer token. Each type of token reflects a user’s membership in a particular community. The proportion of tokens is established depending on the type of voting. Dividing tokens into several groups is necessary in order to take into account the first place the opinion of the holders’ category that has the best knowledge of the subject matter and is directly related to the issue discussed at the current voting.
The user account consists of registration data, optionally including a phone number for additional safety, age verification, consent to the conditions of participation, and a safe multicurrency crypto wallet. The wallet is created and assigned to users automatically after registration. The wallet allows you to transfer PHT tokens and all the cryptocurrencies supported by the platform between PlayHall users, make purchases, sell, exchange and withdraw their assets. In addition to its own tokens, the platform will work with popular currencies: ZCash, Litecoin, Dash, Bitcoin and Bitcoin Cash, Ethereum and Ethereum Classic.
To enhance the security of user accounts on the platform, there will be provided a two-factor authentication, which enables creating white and black lists of IP addresses to prevent unauthorized access to the account, as well as a disabling blocking function that prohibits the withdrawal and transfer of cryptocurrency from all IP addresses except for selected ones.
The platform will become a bridge between the stable game industry and the emerging crypto economy, which will give it an opportunity to reach to a huge target audience. PlayHall is going to become the first blockchain platform, on which users will be able to monetize their time and intellect by earning a popular and liquid cryptocurrency for every victory in a regular match or tournament. By the end of 2019, the principles of decentralization will allow 12 million users to earn cryptocurrency using their intelligence and game skills in any of the 200 exciting skill-based games.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
The post PR: Vadim Nareyko, CTO PlayHall – Technical Aspects of the PlayHall Platform appeared first on Bitcoin News.
Ethereum code editor resigns over legal concerns of a proposal for standardizing lost fund recovery. #NEWS
The BTC markets have ramped up to test the $10,000 USD area on leading exchanges following a break above resistance at $9,000. Bitcoin has recovered by more than 60% since testing the $6,000 area on February 6th.
Bitcoin Tests $10,000
Bitcoin has produced bullish action in recent days, forming an inverse head and shoulders pattern on the 4-hourly chart before breaking above resistance at roughly $9,000 area yesterday.
The bearish action of recent weeks saw bitcoin lose approximately 65% of its value – falling from approximately $17,000 at the start of January to the recent low of less than $6,000 on the 6th of February. When compared with the all-time high of approximately $19,700 from December 17th, the drop down to $6,000 comprised a 70% loss in the value of BTC in just seven weeks.
Bullish Recovery Signs for BTC
The recent bullish momentum has seen bitcoin break above the 23.6% retracement area of the crash when measuring from the all-time high area of $19,000 – $20,000. Many traders are anticipating that BTC may soon test the major descending trendline stemming from the all-time high should the markets continue on their bullish trajectory.
When looking at the weekly chart, the stochastic RSI appears poised to retest the 20 threshold after having dropped below such for the first time since mid-2017.
According to Cryptocompare, Japan’s markets are by far the most dominant – with JPY/BTC trade currently comprising over 51% of the total volume of BTC traded globally during the last 24 hours. USD and USDT trade is estimated to represent approximately 37% of global trade combined, followed EUR/BTC trade with just under 5%. The shifting regulatory sands in South Korea have significantly reduced the dominance of the KRW/BTC markets – which presently comprises just 3.5% of BTC traded in the last 24 hours.
Altcoin Markets Correlated to BTC
The dollar-value of most altcoins have shown a strong correlation to BTC in recent months, with nearly every cryptocurrency producing a strong bounce in unison with bitcoin during February.
Among the best performing altcoins boasting a high market capitalization have been Litecoin and Ethereum Classic – both of which appear to have benefited from FOMO leading up to their respective forks, gaining over 100% since early February.
According to Coinmarketcap, bitcoin is currently exerting a market dominance of approximately 35%. Ethereum is second largest cryptocurrency market, boasting a 19.5% market dominance, followed by Ripple with 9.5%, and Bitcoin Cash with almost 5%.
Do you think the bitcoin markets will continue to recover? Share your thoughts in the comments section below!
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A number of new cryptocurrency exchanges are launching in South Korea despite being unable to provide full service due to regulatory challenges. Since the Korean government enforced the real-name system on cryptocurrency accounts, banks have only been providing fiat deposit services to the country’s four largest crypto exchanges.
Exchanges Undeterred by Regulations
A number of new cryptocurrency exchanges are opening in South Korea despite regulatory uncertainty and the inability to accept fiat deposits. The challenge comes from the new system, enforced on January 30, which requires cryptocurrency traders to use real-name accounts to deposit money for trading at crypto exchanges.
While six major banks have the ability to service cryptocurrency accounts, they “have been converting only existing virtual accounts to real-name accounts for four large cryptocurrency exchanges” – Bithumb, Upbit, Coinone, and Korbit. The Investor elaborated:
The banks have also been refusing to issue new real-name accounts for other cryptocurrency exchanges, citing uncertainties and security concerns.
New crypto exchange Zeniex announced last week that it will begin service on February 12. The company explained that its launch “has been delayed by a month due to the latest regulations designed by the Korean government to cool the overheated cryptocurrency market,” the news outlet reported. Initially, the exchange will support bitcoin, bitcoin cash, ether, ethereum classic, litecoin, quantum, eos, bytom, and 0x.
Zeniex CEO Choi Kyung-joon was quoted detailing:
It’s currently difficult to provide our complete services due to delays in issuing real-name bank accounts for trading…Despite these circumstances, we have decided to go ahead with the launch to service our customers who have been waiting for our opening.
With the bank account problem, traders “can only buy and sell cryptocurrencies with bitcoins because major banks are putting off confirming and issuing real-name bank accounts,” the publication added.
Another crypto exchange named Dexko announced on Friday that it will start accepting pre-registration of users with the aim to launch its cryptocurrency exchange on March 15, the Investor also reported. Initially, the exchange will support 10 cryptocurrencies including bitcoin, ether, bitcoin cash, litecoin, and ripple. Pre-registration runs from February 5 to 25, according to the company’s website.
The firm will exempt trading fees for a month for pre-registered users at launch, the news outlet detailed. Kim Yong-ho, the CEO of Korea Digital Exchange which operates the exchange, commented:
We worked hard to remove defects and minimize customer inconvenience by conducting in-depth analysis on other exchanges…Dexko has completed all the legal and systematic requirements and is preparing to introduce won-based trading soon.
Two Chinese exchanges are also planning to enter the South Korean market. Earlier this month, Okcoin reportedly reached a final investment agreement with South Korean game company NHN Entertainment Corp, which was previously part of Naver. “Under the agreement, Okcoin will provide its own trading system and NHN Entertainment will operate a domestic server and respond to customers,” Business Korea described. The company plans to trade more than 60 cryptocurrencies against the Korean won.
Huobi is also planning to enter the Korean market in the first quarter of this year, the publication noted. Before the Chinese government closed down all cryptocurrency trading last year, the two exchanges were among the very largest in the world as measured by volume.
What do you think of these new crypto exchanges launching in Korea? Let us know in the comments section below.
Images courtesy of Shutterstock, IHS, Zeniex, and Dexko.
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Young Americans are signing up in droves to a new cryptocurrency trading service, showing the massive unmet demand in the market for more bitcoin trading venues. Cryptocurrencies are coming soon to the Robinhood platform and traders appear to be following them in anticipation.
Robinhood Hits the Bullseye
Over a million people are already waiting in line to get early access to bitcoin and cryptocurrencies trading service by Robinhood Markets, according to its launch website. The Palo Alto-headquartered US stocks brokerage app has just announced the upcoming service a few days ago.
To put things in perspective, Robinhood has an estimated user base of only about 3 million people, which means it could grow by as much as 33% by adding cryptocurrency trading or that a third of its clientele will switch to bitcoin. Of course this will not happen immediately as the company will only start rolling out the service in February to a limited number of American states.
The service will initially begin with commission-free BTC and ETH trading in California, Massachusetts, Missouri, Montana, and New Hampshire. It already offers market data on 16 cryptocurrencies in the form of bitcoin, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk and dogecoin.
Stealing Users from the Rich
When it was launched in 2013 with financial backing from Google Ventures, Andreessen Horowitz and other, many analysts saw Robinhood as an early attack by Silicon Valley against Wall Street. It was speculated to be a precursor of a larger assault by tech giants against the entrenched stock brokerages, which largely didn’t materialize. Now it could be bringing disruption to a whole new industry – cryptocurency exchanges.
The major trading venues in the bitcoin world have been suffering from an inability to handle the influx of new customers throughout the 2017 rally, leading to withdrawal delays, degenerated services and a lot of frustrated clients. At the same time the exchanges kept raking in incredible profits, with Coinbase alone reportedly making a billion dollars in revenue during the period. It would be fair to say the market is set for disruption, but it remains to be seen whether Robinhood, a company which isn’t famed for great customer service, is the one to achieve this.
Are you waiting in line to trade bitcoin with Robinhood or sticking with an exchange? Tell us what you think in the comments section below.
Images courtesy of Shutterstock.
The post Over 1 Million People in Line for Robinhood’s Bitcoin Trading App appeared first on Bitcoin News.
Japan’s leading cryptocurrency exchange Bitflyer has launched in Europe after obtaining a license to operate in the European Union. The exchange currently supports BTC/EUR trading, with a plan to add other cryptocurrencies later on this year.
Bitflyer Launches in Europe
Bitflyer announced its European exchange launch on Monday. Its announcement states:
Having been granted a Payment Institution (PI) license to operate in the European Union, it has become the first bitcoin exchange to be regulated in Japan, the US and Europe, making it the most compliant virtual currency exchange in the world.
The company’s European exchange, headquartered in Luxembourg, was launched through Bitflyer Europe S.A., a wholly-owned subsidiary of the Tokyo-based Bitflyer Inc. The company has been granted a PI license by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF).
Pierre Gramegna, the Luxembourg Minister of Finance, commented, “We’re delighted that one of the most successful Japanese startups chose Luxembourg as their EU platform.”
More Cryptocurrencies Coming Soon
For the grand opening, Bitflyer is offering zero percent trading fees until the end of February. According to its announcement:
The company is initially targeting professional, high-volume traders, an audience currently underserved in Europe.
At launch, Bitflyer Europe will support the BTC/EUR trading pair. The company plans to support other cryptocurrencies such as litecoin (LTC), ether (ETH), ethereum classic (ETC) and bitcoin cash (BCH) later in the year.
Bitflyer Europe plans to market its platform across the EU from its base at the Luxembourg House of Financial Technology Foundation.
“When I set up Bitflyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of bitcoin and the virtual currency industry,” said Bitflyer CEO and founder, Yuzo Kano.
In Japan, Bitflyer was among the first 11 exchanges to obtain a license from the Japanese Financial Services Agency (FSA) in September of last year. The exchange currently has nearly 1 million users, its website details.
The company opened up an exchange in the US in November after obtaining licenses to operate in 41 states, including New York. Connecticut, Hawaii, Illinois, Louisiana, Massachusetts, Minnesota, Nevada, West Virginia, and Wyoming are “coming soon,” according to its website.
What do you think of Bitflyer launching in Europe? Would you use it? Let us know in the comments section below.
Images courtesy of Shutterstock, Business Wire, and Bitflyer.
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