Welcome to the Daily Cryptocurrency News Roundup 11th Nov, 2017 edition.
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#1 NewsBTC – Simplifying Tokenization
- Simple Token allows companies to create, manage, and launch their own branded digital token based on Simple Token, allowing them the use of side chains and the Blockchain ledger for its multiple uses.
#2 The Cointelegraph – It is Highly Inaccurate to Describe Bitcoin as a Bubble, Here’s Why
- There was a bubble in Bitcoin in 2013 when the demand for Bitcoin rose to a point where the market could no longer support it and the Bitcoin price crashed from $1,300 to $200. But, it is not accurate to call Bitcoin itself a bubble, the same way it is not accurate to describe Amazon or Tesla a bubble.
- Analysts and experts are quick to claim that anything is a bubble, given its rapid increase in value and exponential growth rate.
- Apple co-founder Steve Wozniak observed, Bitcoin is more legitimate and transparent than most systems in existence today.
#3 EthereumWorldNews – Chia To Change Crypto Mining
- The founder of BitTorrent and a few of Bitcoin’s community development team are working together on a new altcoin that could revolutionize the way transactions are mined.
- At the moment most cryptocurrencies use a proof of work concept which involves hash calculations and power hungry mining machines. The fundamental change with this new token from the San Francisco based company is that it will be based on an entirely different process called ‘proof of space’ or ‘proof of time’.
#4 Bitcoinist – Auxledger backs Cashaa india operations
- Auxledger, an enterprise-grade blockchain infrastructure currently powers over a dozen applications across different state governments of India is partnering with Cashaa to support All India operations.
- Auxledger aims to revolutionize a series of public and private sector use cases in India, including Identity Management, Remittance, Asset Management, Supply Chain, Wearables in Defence, HealthTech, Education, and Finance.
#5 Bitcoin Magazine – Bitcoin Price Analysis: Market Correction Could See Lows of $5,800
- Bitcoin broke below the $7,000 support level and ultimately completed a Wyckoff Distribution phase.
- Prior to the breakdown in price, the market rejected the historic resistance line, which has signaled a strong reversal point throughout the market’s history.
- We are currently finding support on the 23% retracement values, but ultimately the stronger support will be found on the 38% values in the $5,800s.
#6 Cryptocoinsnews – Over 26,000 Blockchain Projects Were Developed Last Year; 8% Remain Active
- The stark reality of open-source projects is that most are abandoned or do not achieve meaningful scale. Unfortunately, blockchain is not immune to this reality.
- The report adds that about 90 percent of projects developed on GitHub become idle, with the highest mortality rate occurring within the first six months of a project beginning.
#7 Bitcoin.com – Bitcoin by Numbers: 21 Statistics That Reveal Growing Demand for the Cryptocurrency
- Breaking Down Bitcoin
16.67 million: current bitcoin supply.
58%: crypto market dominance.
96: countries where bitcoin usage is unrestricted.
12,000: transactions per hour.
0.103 BTC: average transaction value.
11 million: network hashrate in TH/s.
166 GB: blockchain size.
96%: amount of bitcoin owned by just 4% of addresses (containing 2.9 million BTC)
#8 Cryptocoinsnews – Micro-Lending Startup Ripio Credit Network ICO Hits $37 Million Target
- The initial coin offering for Latin American startup Ripio’s micro-lending network reached its $37 million hard cap.
- The blockchain financial services firm, formerly known as Bitpagos, is developing the Ripio Credit Network with the stated goal of democratizing the lending process and removing the geographic and bureaucratic barriers that prevent borrowers in emerging markets from obtaining loans at reasonable rates from traditional lenders.
#9 The Cointelegraph – Ethereum Continues Improvements Amid Bitcoin Bickering
- The second largest market cap coin has seen substantial use cases arise as the ICO world continues to flourish and new ERC20 and ERC223 tokens are create
- The ZK-SNARK protocol, released on the Ethereum platform with the Byzantium hardfork, was quickly criticized by some tech insiders because of its risk of attack from quantum computers.
- A recent paper by Ethereum founder Vitalik Buterin indicates, however, that a new protocol called the ZK-STARK has been conceptualized in order to protect a full zero-knowledge transaction, even from quantum computing. This protocol relies only on hashes and information theory, rather than the ‘trusted setup’ of its ZK-SNARK cousin.
#10 TheMerkle – Bitcoin Gold Will Finally Launch on November 12
- The full node client download will be provided on the Bitcoin Gold website. It is expected this client will work on Windows, Linux, and MacOS, although it remains to be seen how everything will play out.
- The Equihash proof-of-work change has been finalized and should be capable of handling a public stress test at launch.
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