Bitcoin Cash (BCH): Exclusive Marketplace & Hard Fork The Next Major Catalysts

This might have escaped you, but Bitcoin Cash (BCH) will soon have a platform that will exclusively pair it with fiat and other cryptocurrencies for trading. The event was previously expected around mid-April but a new rumor claims it will come online on April 30, via the efforts of a Cyprus-based startup.

This might have escaped you, but Bitcoin Cash (BCH) will soon have a platform that will exclusively pair it with fiat and other cryptocurrencies for trading. The event was previously expected around mid-April but a new rumor claims it will come online on April 30, via the efforts of a Cyprus-based startup.

Hello Group, the company that announced this initiative earlier in the year, is set to build a marketplace dedicated to BCH. What this means is that Bitcoin Cash will get priority in being paired with other crypto assets.

Bitcoin Cash will likely be even bigger in the next couple of weeks. Its price that is looking to top $1000 at the moment could go wild. Bold projections are already putting it beyond the $1500 level. As the market tries to consolidate, BCH investors should brace themselves to dig in and await higher returns.

When was this announced? Well, it goes all the way back to the beginning of the year. In January, the Hello Group team acquired the domain Bitcoincash.io and revealed that they would be developing the platform specifically for BCH/CRYPTO pairs.

According to the report,

“Acquired at the beginning of the year Bitcoincash.io domain is planned to be a marketplace platform focused on BCH and is coming online on April 30.”

The item may not be hot news at the moment, but it will get a lot of airtime beginning of next week.

The Hello Group had indicated that they’d be launching the Alpha release for the site on by the end of April. With the new site in place, Bitcoin Cash will get more visibility as Cyprus is a country with a significant crypto following.

It is expected that investors will access a number of services that are likely to further their interest in crypto trading. One of the main attractions of the site will be its free of charge services. On the platform, users will get cryptocurrency live feeds, in-depth historical data, and updates on related events and trends. Essentially, account holders will have an avenue to interact with the system without the interference of an intermediary.

In other news, Bitcoin Cash will have its planned hard fork on May 15, 2018, as had been indicated as early as 2017. When 7 Bitcoin Cash developer teams met in London sometime in November 2017, they all agreed on one thing. It was a decision to hard fork the crypto in 2018. At the time, leading development team ABC said that:


“Our top priority for Bitcoin Cash is to keep improving it as a great form of money. We want to make it more reliable, more scalable, with low fees and ready for rapid growth. It should ‘just work,’ without complications or hassles. It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on.”

Well, that fork will take place on May 15, followed by yet another in November. Together with Bitcoin Unlimited, the teams want to introduce upgrades that could make BCH better than even Bitcoin. Apart from the expected change to the block size, the upgrade will readjust it to be “adaptive”, the teams will also try to reduce block intervals down to about 2.5 minutes. However, one feature on the cards could be a game changer for BCH and the crypto community.

The hard fork is intended to reactivate some apparently disabled opcodes in the original Bitcoin code. The OP_GROUP opcode seeks to find ways of establishing tokens on the Bitcoin Cash network. These should work like the ERC-20 token standard on the Ethereum network.

If such comes out during the upgrade, the BCH network could be set for fast-paced growth. It would lay the ground for the crypto to establish a stronger footing, competing directly with Ethereum. This is massive potential being laid forth for Bitcoin Cash (BCH). Expect prices to skyrocket by the end of Q2.

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Mobile Crypto Mining Democratizes Cryptocurrency for Everyone

Of all extant cryptocurrencies – over 1,500 – those restricted to mobile platforms, wallets, and exchanges comprise a fairly small portion. Yet despite ERC20 and utility tokens’ dominance in the ICO landscape, there is a high potential for mobile-only cryptocurrencies to democratize mining and …
· April 20, 2018 · 4:30 am

Of all extant cryptocurrencies – over 1,500 – those restricted to mobile platforms, wallets, and exchanges comprise a fairly small portion. Yet despite ERC20 and utility tokens’ dominance in the ICO landscape, there is a high potential for mobile-only cryptocurrencies to democratize mining and dramatically decrease transaction costs. Potentially, this makes mobile-based cryptocurrencies, in aggregate, a foundation for tangible and tractable work to reverse the remaining and foundational problems seen with dominant cryptocurrencies today.


The Problem

The Problem

Today’s dominant cryptocurrencies are used mostly by highly tech-savvy users, blockchain companies, and their staff, and accredited investors participating in ICOs. Moreover, they – especially Bitcoin, Ether, Litecoin, and Ripple – are increasingly referred to as stores of value instead of high-frequency and high-volume transactive material like fiat currency. Yet this trend is slowly beginning to fade as more people realize the transactive value inherent in cryptocurrency.

The problem most people have when attempting to use cryptocurrency, however, is that it currently requires a large amount of technical expertise and money to contribute to mining costs to actually obtain and use, making it prohibitive for the average person. This includes the millions of unbanked people in the Global South who use nontraditional transactive and earning mediums that fall outside of the banking system.

For most of them, though disconnected in terms of not owning a laptop or desktop computer, their disproportionate ownership of mobile phones is a central entry point into crypto, giving them the potential to add mining revenues to the money they use to live every day. Mobilizing mobile app development to democratize crypto exchange and p2p utilization, as well as distribute mining operations across mobile networks, is one possible solution for this problem.

The Solution

The Solution

Mobile-only cryptocurrencies represent a growing niche being developed to allow everyday individuals to mine and transact with cryptocurrency, with tech-savvy Millennials in traditionally nontech-hub areas around the world developing these to allow more people take advantage of the value they hold. Mining incentivization algorithms tied to mobile outsourcing, as well as open-source inter-bank payment networking protocols, are among the dominant and most attractive use cases in this niche field. They are just a few examples of how blockchain technology, combined with mobile as a transaction and exchange medium, are already breaking down price barriers to mining and profiting off of cryptocurrency, and consumers and developers in every country alike are paying attention.

Together, such use cases could do an excellent job of democratizing mining by taking electricity costs out of the equation, allowing anyone anywhere to mine and earn cryptocurrency. Plus, incentivizing this by using Proof-of-Time protocols to allow people on such platforms to gain cryptocurrency just by using it would increase the volume of coins mined, transacted, and traded—as well as the number of miners confirming transactions, undergirding the strength of both the total worldwide cryptocurrency user base and the associated consensus ecosystem, and providing public motivation towards mainstream usage.

Evidence and Potential

Evidence and Potential

The extent of the mining value chain’s evolution bears out the value of these use cases to the worldwide general public. According to theCambridge Center for Alternative Finance, remote hosting and cloud mining services emerged as early as 2016 to offer customers the possibility to participate in the mining process without having to run their own equipment. Bitcoin miners alone have earned over $2 billion to date, with over 80% of miners performing multiple mining value chain activities, half of those able to influence protocol development at high levels across all mining operations. 82% of large miners are performing a single mining activity, and 27% are engaged in more than two. These statistics cover only Bitcoin.

Mobile-based democratization of mining activity would simultaneously drive down mining costs dramatically by distributing mining activities across a widening array of mobile phones globally, and increase cryptocurrency legitimization given the huge swaths of people previously disengaged from mining whose activity would produce entirely new value for more cryptocurrencies, increasing investment into cryptocurrency as a whole.Among the cryptocurrenciesleading in this regard, Phoneum andMobileCoin stand out.

Doubling Down: The How and the Why

Evidence and Potential

The former uses a consensus algorithm combining Proof-of-Work and Proof-of-Time protocols alongside a point-of-sale network facilitating free p2p transactions. Along with its simplified UX platform interface and 2.1 billion smart mobile devices extant worldwide, Phoneum has created a unique algorithm differentiating computers and ASIC miners from mobile devices, allowing the platform to create a mobile-only blockchain solution. All miners on the platform operate across a flat hierarchy, allowing everyone to benefit equally from the mobile app and facilitating equality among all mining devices on the network.

The latter company uses theStellar Consensus Protocol to facilitate a federated system of sub-second p2p transactions across mobile networks over a synchronized distributed ledger, sealed from access by both node operators and potential attackers. Both are examples of a growing generation of blockchain companies using secure, smart mobile-driven distributed ledger technology to both incentivize users to use and transact with cryptocurrency, as well as accelerate crypto transactions and secure them from improper access or attack.

Progress, and Moving Forward

Progress, and Moving Forward

These use cases are excelling. In particular, Phoneum’s alpha stage secured 15,000 unique downloads overall, with 26,000 accounts actively mining. Having just launched their beta app last week, Phoneum has secured an additional 2,000 new accounts in less than 48 hours. They are currently in high-level conversations with mobile manufacturers to have their app pre-installed on their devices for shipping.

Ivan Likov, Chief Executive Officer at Phoneum, says:

Because we have worked to overcome the challenges of storage, overheating, and power processing, we have realized that the network is stable and devices are continuing to work normally with Phoneum in the back-end. All this allows us to focus on bringing it to the masses rather than adapting the platform for mobile devices.

How do you feel about mobile-based cryptocurrency mining platforms opening up crypto for everyone? Could it possibly remove some of the final barriers to mainstream adoption? Post in the comments below to let us know!


Images courtesy of Shutterstock, AdobeStock, Pexels, YouTube

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Bitcoin and cryptocurrency round-up 20 April 2018

Strong buy signals suggest cryptocurrency bullrun · Bitcoin Cash set to move to 32MB block size on 15 March · Ripple: We’re here to replace SWIFT, not partner with it · IBM trade blockchain completes first smart contract transactions · Just kidding? Crypto-company Savedroid says exit scam was a prank.
Andrew Munro20 April 2018NEWS

What’s happening in cryptocurrency?

Pranks on the blockchain, IBM moving in, Ripple on SWIFT, BCH does its thing and a strong signal.



1. It was just a prank… on the blockchain!

Hah, you thought I was going to run off with $50 million just because it looked like I was going to run off with $50 million.

Haha, look at all these death threats. Ahaha, a complete loss of investor confidence. Instant classic.

2. That’s how you do it in Batavia.

How? Efficiently.

IBM’s Batavia blockchain system for global trade has been successfully used for live transactions.

3. Hey, SWIFT, there’s something on your shirt.

Gotcha!

To paraphrase Ripple’s take on the prospects of a partnership with the SWIFT network.

4. The biggest, hugest block size scales goodly.

Bitcoin Cash is going up to 32MB block size.

Did they lose a bet or something?

5. Indications indicate running the same riff will turn you around.

Bitcoin prices are paved with disappointed analysts, but there’s room for cautious optimism in the latest market outlook, say cryptocurrency market analysts Simon & Garfunkel.

Make of it what you will.


Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, BTC, XRB

This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

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Coingeek Funds BCH Blockchain Development Training in the Philippines

Just recently it launched a £5Mn Bitcoin Cash tokenization contest, while at the same time revealing the funding of the privacy-centric BCH project Cash Shuffle, and the popular wallet client Electron Cash. Now Coingeek plans to fund the Stacklab blockchain training program in the Philippines as the …
Coingeek Funds BCH Blockchain Development Training in the Philippines
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On Thursday, April 19 the Calvin Ayre-owned blockchain and mining firm, Coingeek, announced it is contributing over $150,000 USD to help fund a blockchain developer training program in the Philippines. Coingeek believes the projects like these will help bolster the global, low-fee peer-to-peer digital currency known as bitcoin cash by improving the blockchain development community.

Also Read: Tax Time is Here and Lots of Cryptocurrency Holders Don’t Care

Coingeek Funds Another Project to Bolster Bitcoin Adoption

Coingeek Funds BCH Blockchain Development Training in the PhilippinesThe blockchain organization Coingeek owned by the billionaire Calvin Ayre has been funding a lot of research and development in regard to the Bitcoin blockchain (BCH). Just recently it launched a £5Mn Bitcoin Cash tokenization contest, while at the same time revealing the funding of the privacy-centric BCH project Cash Shuffle, and the popular wallet client Electron Cash. Now Coingeek plans to fund the Stacklab blockchain training program in the Philippines as the area is the second largest IT outsourcing region worldwide.

“[It is] important to train more developers to work in blockchain technology, because experienced blockchain developers are in short supply,” explains Coingeek.

A minimum of fifty developers will be trained on developments skills focusing on the Bitcoin BCH blockchain Trainees will be selected at a coding tournament using the world’s most unbiased programmer capability evaluation test, which was funded by the World Bank and is recognized by the Institute of Electrical and Electronics Engineers (IEEE).

Coingeek Funds BCH Blockchain Development Training in the Philippines

Trainees Will Focus on Coding the Bitcoin Cash Blockchain

Stacklabs (a Stacktrek Enterprise subsidiary) hopes to create next-generation development hubs in the Philippines. The first Stacklab training program with Coingeek will be held in the city of Iloilo. The London-based blockchain research and development company Nchain will also assist the Stacklab program curriculum and trainee projects.

“The training programs will be focused on coding on the Bitcoin BCH chain, the one true public blockchain,” Coingeek emphasizes during the announcement.

Coingeek also explains that only those who test in the top 2 through 11 percentile will make the cut for Stacklab’s Philippines project. After developers are chosen they will take a six-month training program, and Stacklab will help the trainee find an employment position in the blockchain workforce. The hope is to “transform developing cities” like Iloilo and turn them into technology centers.

What do you think about Coingeek funding a blockchain training program in order to help promote bitcoin cash development? Let us know your thoughts in the comments below.


Images via Shutterstock, Bitcoin Cash logos, and Coingeek.


Have you seen our newwidget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool and you can customize by size and color. The widgets include price-only, price and graph, price and news, forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power.

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Blockchain Slump? Banks May Be Fatigued But Insurers Are Pumped

Francois noted how ING successfully swapped €25 million worth of liquid assets using the collateral lending application of fintech startup HQLAx on R3’s Corda distributed ledger platform. “We did this live transaction last month. We will be in production by year end. It’s been a close walk with regulators, …

Progress reports on blockchain projects in the banking and insurance sectors offered an illuminating comparison at the Blockchain Expo in London Thursday.

While bankers came across as browbeaten and anxious, their cousins in insurance were anything but.

Indeed, the tone for banking was set on a panel looking at the potential of blockchain for financial services, where Claudia Coppenolle, head of digital market management for Deutsche Bank, began by acknowledging her belief that the hype cycle around business applications for blockchain is clearly past its peak.

“It’s heads down for delivery. People are getting close to MVP [minimum viable product] and just want to get this out,” she said. “But we still need to learn. We can’t just put a product out and hope it works. It won’t.”

As with banking, being risk averse is in the DNA of insurance companies, but an afternoon session featuring the likes of Allianz and startups such as Etherisc showed the insurance industry is not short on enthusiasm for innovation.

Etherisc co-founder Christoph Mussenbrock arguably looked further toward a decentralized future than his banking counterparts, boasting that his startup has a live product where the insurance payout is triggered by data fed to the ethereum blockchain – in this case records of flights arriving and departing.

If a flight is late, someone who has bought insurance against this risk will simply be automatically reimbursed.

Mussenbrock told attendees:

“We believe it’s not just a better database, but allows a decentralized economy. We see a shift of control toward the customer; the classic insurance model the firm controls the policy and has all the power.”

Elsewhere, there were signs incumbents are open to such creative approaches.

Oliver Volk, the blockchain expert at Allianz’s reinsurance unit, spoke on behalf of the B3i insurance consortium, which he said has been expanded rapidly, adding 23 new members to the original founding group of 15 following the first outing of a prototype for contractual management.

The group is now ready, Volk said, to invite insurance brokers into the consortium, with the latest news being the creation of B3i Service AG, a startup incorporated in Zurich that is now beginning a funding round. Volk also confirmed the consortium intends to have something in production by the end of the year.

But there were other updates as well. Allianz is also running pilots for securing electronic medical prescriptions using a blockchain, not to mention working on an internal token for moving money between affiliates around the globe, as revealed earlier Thursday by CoinDesk.

Still, Martin Baier, the program manager for business innovation and development (including blockchain) at the insurer Zurich, sees other use cases as perhaps hitting the market more quickly, predicting the first real cases for insurance would be around efficiency gains in claims processing and fighting insurance fraud.

In this way, he framed the remaining obstacles as merely finishing touches for impending launches.

“In the claims process there are lots of parties involved, so [it’s] a good area for blockchain; we just need to get our data standards sorted out,” said Baier.

Post-hype blues

But if insurers were forward-looking, panels on banking often sought to contextualize what speakers cited as the slow movement of tests and trials to production.

Herve Francois, the blockchain lead at the Dutch bank ING, for example, agreed the hype is definitely past.

“We are in the low point,” he said. “But that’s how it works – we tend to overestimate value in the short term, but underestimate impact in the long term.”

Meanwhile, Boris Spremo, operations director for emerging business and architecture at Bank of New York Mellon, said flatly that “the technology is not ready yet.”

Another barrier to bank adoption, he said, is regulation. Right now, “the regulators are cautious, especially in capital markets,” Spremo said. “And then we need critical mass” for the tech to work.

This comment compared to statements made by Coppenolle at Deutsche Bank, who elsewhere acknowledged that large institutions like hers are necessarily slow-moving.

“We are not agile,” she said. “We are a global operation and our clients have broad needs. … If our payment engine fails because we were trying out some new blockchain KYC thing, our clients would get very upset.”

Insurance uprising

Still, there were bright spots for bankers, even if the insurers stole the show.

Francois noted how ING successfully swapped €25 million worth of liquid assets using the collateral lending application of fintech startup HQLAx on R3’s Corda distributed ledger platform.

“We did this live transaction last month. We will be in production by year end. It’s been a close walk with regulators, and we are now talking to more of them in Asia,” he said.

That’s not to say insurance doesn’t have hurdles.

Matt Peterman, CEO and co-founder of InsurPal, agreed that fraud detection is an area ripe for standardization. As it stands, he said, the industry takes invasive measures to fight fraud.

Volk concluded by pointing out some differences between insurance use cases and those in banking, which hinted that perhaps blockchains are a more intuitive fit for the insurance industry.

“When you talk about blockchain and scale it’s a little bit easier for the insurance industry than in financial services,” he said. “In terms of transactions per second, we don’t have that many so that’s not really a limitation for us.”

In this way, he sought to explain the situation merely as one of two different sectors charting their own course toward perhaps inevitable efficiencies.

Volk concluded:

“We are simply starting with the easiest contracts and working forward.”

Image via Ian Allison for CoinDesk

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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