Pandora Opens Financial Markets to Cryptocurrencies Investors

Maria Rodríguez
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Pandora Opens Financial Markets to Cryptocurrencies Investors

This exchange house allows users to generate profits with cryptoactives, while still investing in traditional assets. Many cryptocurrencies are accepted as a guarantee, including Bitcoin, Bitcoin cash, Ether and Litecoin

Pandora offers to cryptocurrency owners a direct access to foreign exchange, stocks and a variety of other asset classes. In this way, the exchange house gives to cryptoactive owners better options to invest their digital money.

Gavin Smith, Pandora’s CEO, gave some details:

“This is only the first step in our ultimate goal of dissolving the distinction between fiat and cryptocurrencies, when we talk about financial opportunities. Looking ahead, we will continue providing more and more options for cryptoactive holders. Everything we do, in all fields, is aimed at that goal”.

Economists and experts in cryptocurrencies, affirm there is a solid base on the prices of cryptocurrency, despite the rise and fall in its value during 2018. For this reason, more and more people want to save and buy cryptocurrencies.

Pandora allows anyone, anywhere, to use their cryptocurrency assets to generate a financial return. This organization puts cryptocurrencies on a par with fiat money and it also keeps the holders of assets in control by providing direct access to the main financial markets using cryptocurrency as guarantee. Since 2014, when the exchange house was founded, Pandoras’ aim to provide cryptocurrency owners the same opportunities that fiduciary holders have to generate income from their assets. At that time, its name was “First Global Credit”. With a relevant experience in traditional technology and cryptocurrency markets, Pandoras’ co-founders brought their first service to the market: actions supported by cryptoactives, followed shortly by AICoin, which uses AI itself to trade in the cryptocurrency markets. The company’s development team continues creating new products and services that will offer advantages to its customers. It includes the public launch of Pandora Crypto I, a hedge fund focused on cryptocurrencies that has been successfully engaging with proprietary assets for more than a year. This and other services were designed to give holders of cryptoactives more opportunities.

Knowing the Exchange House

With more than 12,000 customers in 35 countries, Panxora is the partner of the cryptographic community to meet financial goals and put cryptoactives to work.

Pandora’s co-founders have important careers in some of the most successful private financial companies in the world. They have successfully provided an uninterrupted service to the cryptographic space since 2014. Its main objective is to give cryptocurrency holders the same freedom to seek financial opportunities as those of traditional foreign holders.

By María Rodríguez

Hyperledger Fabric Will Develop Support for Ethereum Smart Contracts

Maria Rodríguez
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Hyperledger Fabric Will Develop Support for Ethereum Smart Contracts

Fabric developers will be able to build their own Dapps. Solidity and Vyper will be programming languages for smart contracts

The Hyperledger consortium project announced, on October 26th, that it works in the possibility of developing and executing smart contracts of Ethereum network. This integration will allow to Fabric users to create their own decentralized applications, better known as Dapps.

Some developers of different applications use blockchain to take advantage of some of its features, such as data storage in a distributed way. Some people choose Ethereum and others choose Hyperledger. However, there is also the possibility of combining them to obtain different results.

In the Hyperledger Fabric next 1.3 version, creators will be able to generate smart contracts written in the Solidity or Vyper programming languages to create Dapps, since Fabric is compatible with Ethereum.

According to what the blockchain framework informed, people interested in this initiative will have the option to produce smart contracts through the Ethereum platform and have them run in the Hyperledger Fabric blockchain.

“Great news! Hyperledger Fabric now supports Ethereum Virtual Machine (EVM) bytecode smart contracts”, said the company on its Twitter account. The Ethereum ecosystem is a community of developers that Hyperledger would like to take advantage of, in order to attract a wider audience.

Its structure

The bid will incorporate four modules, which include accounting technology, membership services, the consensus mechanism -or identity management- and the smart contract application code, which will allow users to consult accounts and contract codes.

Among the new implementations to the Hyperledger Fabric platform is a library web3.js, which will allow customers to migrate and develop decentralized applications in the Fab3 API.

The smart contracts of Hyperledger will not use ether or tokens, but they will need gas to fulfill their transactions. Each smart contract transaction will need a sufficient amount of gas to execute those applications. The idea of using gas is to prevent developers from running useless applications and monopolizing network resources.

“For each transaction that runs through the EVM, sufficient gas must be provided to ensure completion. This ensures that the miners do not run the risk of DoS, caused by an infinite loop and computer resources are wasted”, the organization explained in a press release.

 Breaking barriers

Previously, the Burrow project allowed smart contracts written for the Ethereum platform to run on the virtual machine with Hyperledger permission. The last development is a competition of the Burrow project that aimed to break the barrier between the two platforms.

With the launch of Hyperledger Fabric 1.3, which happened two weeks ago, the integration between Burrow and Fabric was completed. This union allows smart contracts written in the Ethereum Virtual Machine to run in the Hyperledger blockchain without any modification.

From now, Hyperledger Fabric plans to reach Remix and Truffle users. It is also investigating new applications for the tools offered by the Ethereum blockchain on their platform. The team also have been focusing on adopting other features of the Ethereum ecosystem.

By María Rodríguez

Tether ‘Burns’ 500 million USDT amidst Speculations of an Attempt to Stabilize its Price

Andres Chavez
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Tether ‘Burns’ 500 million USDT amidst Speculations of an Attempt to Stabilize its Price

Tether destroyed 500 million USDT on Wednesday in what many people consider an attempt to stabilize its price. The cryptocurrency redeemed and burned more than half of the circulating tokens, with officials maintaining almost 30% of the total supply.

Tether issues the USDT tokens. Each one is backed by a USD, although that will not necessarily mean that they are tradable through the Tether platform. It is stablecoin, meaning that it is designed to be always worth $1.

The announcement came via the company’s Twitter account prior to 1:00 p.m. ET on Wednesday. The 500 million USDT tokens that were burned were previously held in an account known as the Tether treasury. Recently, specifically in the past couple of weeks, that account was receiving vast amounts of USDT after last week, when Tether lost parity with the USD.

Is Tether Scaling Back on Purpose?

It goes without saying that Tether manages the treasury account, the same that starting from October 14th (the day in which each USDT began to be worth less than a dollar) and until October 23rd received almost 680 million USDT. The sender of the transfers was an address controlled by the crypto exchange Bitfinex, a related company to Tether in terms of ownership.

Some people within the industry assume that since Bitfinex’s cold wallet balance has dropped by nearly 100,000 BTC since the start of last month, the exchange platform has spent Bitcoin with the sole intention of taking Tether off the market by pushing the USDT price closer to the $1 threshold.

The aftermath of the transfers is the reduction of the supply of Tether in circulation by nearly a quarter and a half, and now the number is closer to $2 billion. Most of the tokens were “burned,” taken out of circulation or destroyed.

Tether also announced this week that all the USDT that were being held in the treasury account were not burned, as some of them were kept around in preparation for future USDT issuances. They maintained 466 million.

The Bitfinex Exchange denies any Relation with Dollar Parity Tactics

For its part, Bitfinex exchange denied, through the statements of its Director of Communications, Kasper Rasmussen, that the burned USDT event had anything to do with trying to earn back dollar parity because Bitfinex and Tether guarantee 1:1 redemption, effectively taking down the rumors of Tether trying to scale back its supply on purpose.

Rasmussen also reminded people that the Tether tokens are only redeemed when the amount of USDT circulating in the crypto market “exceeds the amount required for e.g. Bitfinex or Tether to operate.”

The executive also explained that since the Bitfinex exchange platform is one of the primary customers of Tether, the vast majority of the burned tokens came from its wallet.

Tether refers to the process of transferring USDT to the treasury account in its whitepaper, and names it “redemption.” The cryptocurrency clearly states that USDT holders have the ability to redeem their tokens for dollars directly with the company.

By Andrés Chávez

Sony Will Create a Wallet for Cryptocurrencies

Maria Rodríguez
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Sony Will Create a Wallet for Cryptocurrencies

The wallet will save the user’s private keys through an IC card. It will work as an electronic card.

Sony’s Research and Development Department plans to create a cold purse of cryptoactives. The device, still unnamed, uses IC Cards to communicate with the network of Bitcoin and others cryptocurrencies network.

Sony Computer Science Labs (SCSL) broke the news in a statement issued on last October 23rd. The company explained its main objective. It will create a “cold wallet without contact”, which will work without using a USB connection. That will be the main advantage and differentiate the final product from the rest of the devices in the industry. This would allow users to sign transactions with an NFC mobile device.

The idea is to safeguard user’s assets more safely, and market it sooner than it is expected. “It is also possible to securely generate and store a private key with a highly reliable tamper proof module inside the IC card”, the press release details.

How will it work

An IC, also known as an integrated circuit, has the size of one pocket, has integrated circuits and allows the execution of certain programmed logic. For this reason, Sony will use its experience with this type of instruments to develop a portable wallet.

The wallet will not only manage the private keys used for cryptocurrency transactions, it will also allow private keys to be used for other purposes, such as the use of personal information through distributed accounting technology. “It is an infrastructure technology with multiple possible applications”, the statement said.

Smartphones that implement cryptocurrency wallet software will be able to read the smart card, which will contain private keys. In this way, secure transactions for users can be made.

Sony has joined several multinationals to experience new uses of blockchain technology. In fact, in April of this year, the United States Patent and Trademark Office (USPTO) revealed that Sony filed a patent application to manage digital rights on specific content through a blockchain.

The patent explains that the data of the authorized owner and the content will be recorded through this “blockchain of rights”. The process consists on adding blocks to the chain as full or partial use rights are acquired over certain stored content.

References of previous blocks would also be added, for greater precision. “It is an infrastructure technology with multiple possible applications”, the company added.

Digital rights management (DRM) technology verifies each user’s access to the content of the blockchain to ensure that they have the rights to the data in question.

The interest in blockchain technology continues increasing. In March of this year, SBI Holdings, the Japanese financial services group, bought 40 percent of the Taiwanese company of hardware purses in CoolBitX cryptocurrencies.

In July, Ledger, the main supplier of hardware purses that work to guarantee security, said that it had sold more than a million purses during 2017. The profit obtained by Ledger is approximately $ 29 million.

Finally, Sony confirmed that it expects to commercialize its cryptocurrency wallet in order to promote the massive adoption of blockchain technology.

By María Rodríguez

Ripple Says that XRP Sales Doubled in Q3

Andres Chavez
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Ripple Says that XRP Sales Doubled in Q3

While it is no secret that the crypto market has not been kind to nearly all of the top 20 digital coins since peaking in January, it is also true that each project can take away some positive developments for the short-and-long-term future in a time in which investors and members of the community need to reinforce their faith in blockchain-based tokens.

That is the case of Ripple. On Thursday, October 25th, it was announced via the Q3-2018-XRP-Markets Report that the distributed ledger tech startup experienced an increase in sales in comparison with that of the Q2, essentially doubling the number of the second quarter of the year.

Judging by the Numbers

According to the numbers made public by Ripple, $163.33 million XRP were sold on the Q3, an increase over the $75.53 million of the Q2. As a matter of fact, the majority of the growth can be attributed to institutional direct sales: Ripple subsidiary XRP II sold $98.06 million whereas it only sold $16.87 on Q2.

The growth in programmatic sales quarter-over-quarter was modest, though: XRP went from selling $56.66 million to $65.27 million in the third quarter of 2018. One thing needs to be said: despite the Q3 selling prowess, it did not match the numbers of the first period, in which $167.7 million XRP were sold.

Despite the dip in performance experienced in the second period of 2018, Ripple is still showing excellent numbers in the year-to-year comparison: the cryptocurrency sold $19.6 million in XRP in direct and $32.6 million in programmatic sales in 2017’s Q3, at a moment in which the crypto market was peaking.

No Mention of New Customers

A noteworthy development is the fact that it does not display any information about the amount or new customers’ percentage. Ripple, despite experiencing a bad second quarter, did say at the time that the period was its best regarding customer growth. However, there was no such reference in the latest study.

Ripple also explained that it released 3 billion XRP out of escrow accounts in the Q3, with 2.6 billion of that amount being placed in new escrow accounts. The rest of the XRP, 400 million, are currently helping “support the XRP environment,” according to the latest quarterly study, with no further details.

Ripple’s value fell during the majority of the third quarter, and the report made no secret about that. However, it was noted that XRP experienced a growth spurt during the end of last month.

Behavior of XRP in the Last 24 Hours

XRP, Ripple’s associated cryptocurrency, is currently trading at $0,459514 by the time of this writing, which represents a modest 0,09% fall in the last 24 hours. One XRP is priced at 0,00007097 BTC.

The market capitalization of the coin is $18.475.001.708, with a trading volume of $286.246.869 in the last day. 40.205.513.967 XRP are circulating out there in the market. Since peaking at $3.08 on January 6, Ripple has not escaped the most recent crash, as it happened to most of the top-20 digital tokens by market cap.

By Andrés Chávez

New Exodus 1 smartphone will operate with blockchain technology

Maria Rodríguez
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New Exodus 1 smartphone will operate with blockchain technology

The device will cost 0.15 BTC or 4.78 ETH. This cell phone can store cryptocurrencies such as Bitcoin, Litecoin and Ethereum. It will allow the safekeeping of personal keys

The magic precision and security of the blockchain technology also reach the next generation of mobile devices and the hands of this growing community. Two large companies operate mobile devices that also function as portfolios to store cryptocurrencies.

HTC, the Taiwanese manufacturer of mobile phones, officially launched its new Exodus 1 smartphone, the first model of the company enabled to operate using blockchain technology.

The company published the announcement on Tuesday, October 23rd, on its twitter account, where it invited the public to make the advance purchase of the new smartphone through its website.

The purchase order can only be paid with two different cryptocurrencies: Bitcoin and Ethereum. Exodus 1 will cost 0.15 bitcoins or 4.78 ethereums, equivalent to $ 958 USD. Users will receive the product in December this year.

HTC informed the device has a “secure enclave”, which is an area of the Android operating system, where cryptocurrencies such as Bitcoin, Litecoin and Ethereum can be stored. To make this possible, the phone has a built-in cryptocurrencies purse, called Zion.

Like other pieces of equipment which are currently on the market, Exodus 1 has a 6-inch screen, 6GB RAM and 128GB of internal storage. Its particularity is the protection of personal keys and, in the near future, it will safeguard the digital identity of the user who uses said device.

Phil Chen, responsible for the company’s blockchain initiatives, introduced the device last May. At that time, Chen reported that Exodus 1 could become a node in a blockchain red.

Thinking in the future

HTC announced its plans to create a native blockchain which, having all Exodus phones as nodes, will facilitate data commerce between users. However, this first version of Exodus 1 will not have these characteristics yet.

As a first step, the company expects to receive feedback from blockchain users about the early access version of Exodus 1. The idea is that even those who work with blockchain technology give their opinion to improve the device. “The goal is to start with the blockchain community and get their help”, Chen said.

Sirin Labs, another company, also announced the opening of pre-orders for the purchase of its Finney mobile phone, a device with features based on blockchain technology. Users can pay the prevention with SRN, the Sirin Labs token, through its official website.

Last July, the company called to the device “the first blockchain phone”, which includes a cool portfolio of notes, a decentralized application center, and a chip conversion service. Sirin Labs offered a 10% discount to those who purchase the device with the SRN token.

Finney will cost $ 999 USD. Nimrod May, Marketing Director at Sirin Labs, explained that the goal of the project is to “close the gap between the blockchain of the economy and the mass market”.

By María Rodríguez

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