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PR: Cross Exchange Launches IEO

August 22, 2019 |

PR: Cross Exchange Launches IEO

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

CROSS is a project aiming to develop an exchange platform that trades various digital assets globally including CROSS exchange for the coming digital asset and digital money society.

The value of CROSS (XCR) is to “provide a platform for exchanging all kinds of digital assets.”

The purpose of this IEO implementation, is to improve the value of XEX issued by XCR and CROSS exchange.

CROSS is designed to use transaction fees for the XCR buyback & burning (burning of of XCR tokens).

XCR’s value can increase through the buyback and burning of XCR by transaction fees through the various services provided by CROSS.

The buyback and burning of XCR will most recently be made through the following services:

Transaction fees for cryptocurrency prepaid cards using XCR, which launch in September RMT (Real Money Exchange) transaction fees, which will start in September Transaction fees for a blockchain-based point issuance system scheduled to start around October~November

CROSS exchange, which initially opened as the CROSS project on 11/25/2018, quickly became a world-class cryptocurrency exchange expanding its name of CROSS exchange and CROSS (XCR) to many users globally.

CROSS (XCR) ended its private sale early 2018, gained more than 30,000 token holders, and there were many requests for additional sales. To date, we have promoted the XCR value premium without any additional token sales.

As a result of investigating the timing of listing for XCR, the value of this token will be improved through:

1. Reducing the total number of tokens issued by approximately 700 million
2. Long-Term lock-up of about 21% for Super Nodes of XCR circulating in the market

These two points are reflected in the token design.
* Recalculation at the end of the IEO and reflection of the number of tokens

In terms of technology, the Xwallet (expected release during Q4) and the CROSS network have three international papers and patents (accepted) for autonomous distributed technology.

Based on this technology, our “autonomous distributed wallet” and Xwallet are connected by autonomous distributed technology to form the CROSS network.

This autonomous distributed technology boasts the following:

A decentralized cryptocurrency exchange with very low hacking risk
A cryptocurrency wallet with insurance
A QR code payment wallet

This can be used for many services related to storage, management, and trading of digital assets.

In the future, various applications and platforms will be connected to the CROSS network, and XCR will be consumed in service operations and transaction processing to build a token economy.

Use Cases of XCR

Core token functionality that can be used for various services within CROSS exchange
Super Node staking function
Transaction revenue return function
Purchase of a cryptocurrency prepaid card, ONECARD, with XCR
XCR digestion when issuing blockchain base points on the RMT platform
Utility token function digested in various platforms deployed on the CROSS network
Mining rewards resources after the mainnet release
Blockchain based point issuing system

Purpose of Conducting an IEO

Aiming to raise 100,000,000 XEX through IEO implementation
Establish a private fund (the XEX Private Fund) funded with 100,000,000 XEX
Buyback of XCR and XEX with the XEX Private Fund
Secure development funds through XEX revenue sharing

Use of XEX Fund Assets

⇒ 25% used to purchase XEX (mainly to boost liquidity)
⇒ 25%, used for XCR burning and to increase liquidity
⇒ 50%, used for CROSS network development costs

XEX acquired by the XEX Fund will be in a 100% permanent lock-up (including initial acquisition)

Market Impact

XCR’s large-scale repurchase of XEX significantly reduces the XEX market distribution. Further, the XEX Private Fund will continue to purchase XEX, reducing supply and potentially increasing value. Regarding XCR, we expect market circulation to gradually decrease and scarcity to increase through the buyback & burning by the XEX Private Fund.

Token Design after the XCR IEO

XEX Token Design
Up to 7.4% of XEX Total Mined Quantity (vs. ~1.34 billion) to be permanently locked

XCR token design
Reduce the total number of issued tokens from 1.6 billion to 900 million
Up to 21% (~120 million) of the market circulation (~550 million) will be locked at listing

Roadmap

January 2018
CROSS (XCR) private sale started

November 2018
CROSS exchange opened

December 2018
Architecture on CROSS network completed

March 2019
Obtained patent for autonomous decentralized technology

April 2019
Adoption of International Papers on autonomous distributed security technology

August 2019
Adopted International Paper on autonomous distributed security technology
and on decentralized exchanges using decentralized technology

September 2019
Opening of a real money trade market
Start trading XCR in a real money trade market

September 2019
Start of the cryptocurrency prepaid card “ONECARD” service

CROSS
https://cross.technology

CROSS exchange
https://www.crossexchange.io

telegram
https://t.me/CROSS_XCR

twitter
https://twitter.com/exchange_cross

Supporting Link
https://support.crossexchange.io/hc/en-us/categories/360000989812

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: Cross Exchange Launches IEO appeared first on Bitcoin News.

Bitcoin News

‘Amazon of Japan’ Rakuten Launches Crypto Exchange Service

August 20, 2019 |

'Amazon of Japan' Rakuten Launches Crypto Exchange Service, Others Following Suit

Rakuten, the “Amazon of Japan,” announced the launch of its new crypto exchange platform Monday, August 19, offering spot trading of crypto assets via a dedicated smartphone app. The e-commerce giant has been crypto-friendly for a while now, experimenting and investing in crypto payment systems since at least 2014, but with the launch of the wallet exchange service, Rakuten Bank users are now able to buy, sell, and exchange BTC, BCH, and ETH, as well as utilize fiat off-ramps to personal bank accounts. Other formidable forces in e-commerce are working hard to jump on board the crypto train as well.

Also Read: Another Self-Proclaimed Satoshi Fails to Sway Crypto Community

Optimism for Crypto

“Rakuten” means “optimism” in Japanese, and with all the effort the e-commerce leader has been pouring into blockchain and crypto development over the past years, that positive moniker makes sense. With a market cap of $ 14.5 billion, over 17,000 employees worldwide, and $ 10 billion in sales as of May, Japan’s internet commerce behemoth is ubiquitous in the land of the rising sun, and elsewhere.

In a press release from Tokyo yesterday, Rakuten Wallet Inc., a subsidiary of Rakuten Group, announced the start of its long-awaited crypto trading app and exchange service:

Through the smartphone app, customers can make transactions for crypto asset trading accounts, such as depositing/withdrawing Japanese yen and depositing/withdrawing crypto assets, 24 hours a day, 365 days a yearThree types of crypto assets can be traded: Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).

The app features a multisig-based “cold wallet” for user funds, and “There are no fees for opening or managing an account, purchasing or selling crypto assets, or depositing money,” according to the press release. While the company uses the term “cold” in describing the wallet, it is important to note that the actual meaning here is simply offline storage, and as such security is not solely in the hands of the account holder.

'Amazon of Japan' Rakuten Launches Crypto Exchange Service

Application Process: Convenience In, Privacy Out

For those applying for a Rakuten Wallet account, the process is pretty straightforward. “Customers who already have a bank account with Rakuten Bank will be able to easily open a Rakuten Wallet account simply by entering the required information on the online application form,” the press release confirms.

However, privacy-minded crypto users may find the application off-putting. Japan is arguably the world leader in crypto regulation and adoption, with rigorous KYC and AML protocols implemented industry-wide thanks to Japan’s FSA (Financial Services Agency). The veritable dating game-style personal quiz prior to signing up is reflective of this reality.

Applicants must answer several questions even after opening a Rakuten Bank account including private details relating to one’s job, purpose for opening the account, and income. They must also state how many years they have been active in the crypto space. This is in stark contrast to private, P2P exchanges like local.bitcoin.com, where the only thing needed is an email address.

'Amazon of Japan' Rakuten Launches Crypto Exchange Service

Rakuten’s Push Echoed by Amazon, Others

Establishing the Rakuten Blockchain Lab in 2016 after an earlier investment in Bitnet, a wallet/payments software firm in 2014, Rakuten is no stranger to crypto. In terms of the breakneck speed proliferation of Japanese regulations and crypto adoption, 2014 seems like light years ago to most. The Tokyo-based company is not alone, though, with other movers and shakers in the industry having also been putting in the time and research, and now seem to be making plans to jump on board with similar projects.

An official patent document from May reveals that Amazon is researching Merkle Tree solutions to proof-of-work challenges for unknown applications. Though Amazon does not directly accept crypto payments like Rakuten’s American site does, via the integration of the Bitnet portal, similar developments may soon be in the works for America’s retail juggernaut. Already the Amazon Coin digital currency is a reality.

'Amazon of Japan' Rakuten Launches Crypto Exchange Service

Rakuten’s CEO, Hiroshi Mikitani, announced in early 2018 that the company was working on its own crypto token, “Rakuten Coin” to be integrated with the extremely popular Rakuten points system in Japan. Currently these points can be exchanged for bitcoin via the Japanese site.

Amazon has further created a stir in the media in past years by buying up crypto-related domain names such as amazoncryptocurrency.com, amazoncryptocurrencies.com, and amazonethereum.com. While this could be simple brand protection, based on the company’s recent research and investments, real speculation does seem warranted. Especially considering that other companies on similarly herculean tiers of mega financial success like Walmart, Facebook, and Google are all investigating and experimenting with blockchain and crypto as well.

Japan Still Skeptical of Exchanges

Though the Rakuten announcement is big news for crypto enthusiasts in Japan, some remain skeptical. With massive losses of funds at Mt. Gox, Coincheck, and most recently Bitpoint, customer confidence in Japan-based exchange services has suffered. Even lesser known issues relating to regulatory changes have left a sour taste in the mouth of many. Tokyo-based exchange Bitflyer, for example, froze user accounts in 2018 with no clear notification, citing “general maintenance” and the need to comply with official regulatory audits. Some users had crypto frozen on the exchange for weeks, with little to no assistance from customer service.

'Amazon of Japan' Rakuten Launches Crypto Exchange Service

Rakuten’s Positive Push

Japan’s troubles of the past notwithstanding, Rakuten Wallet is pushing forward, with its Android app already available and an iOS implementation expected sometime in September. The service is set to be available 24-7, 365 days a year, except for maintenance periods. Fees only apply for withdrawals of Japanese yen and crypto assets. According to the press release “The app also features many useful functions that allow customers to effectively manage their crypto assets, such as confirmation of assets deposited in Rakuten Wallet, the purchase and sale of crypto assets, and real-time chart rate confirmation.”

The optimistic foray into crypto is perhaps to be expected from the group that is already an online mall, credit card company, Japan’s largest online bank, and owns an actual baseball team. With Rakuten riding the crypto wave in the East, and spreading integration worldwide, it can’t be too long until other giants follow suit.

What are your thoughts on Rakuten’s announcement? Let us know in the comments section below.


Images courtesy of Shutterstock, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post ‘Amazon of Japan’ Rakuten Launches Crypto Exchange Service appeared first on Bitcoin News.

Bitcoin News

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH

August 7, 2019 |

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH

The team behind the former cryptocurrency exchange Voltaire recently announced the launch of a new trading platform specifically designed for Simple Ledger Protocol (SLP) tokens. Three weeks ago the new exchange called Cryptophyl.com launched its trading engine and the first SLP token supported is the community-driven Spice token.

Also Read: New Liberty Dollar Founder Subpoenaed in the Billion-Dollar Bitcoin Lawsuit

Meet Cryptophyl.com: A Crypto Exchange Dedicated to SLP Tokens

The Simple Ledger Protocol phenomena has captured the BCH community by storm and since the project launched, thousands of SLP tokens have been created on top of the BCH chain. Three weeks ago the founders of the now defunct digital currency exchange Voltaire announced the launch of Cryptophyl.com, a platform designed to facilitate SLP token trading against BCH. The first token to launch on the Cryptophyl exchange is the SLP token Spice, a community-driven coin that’s used to show appreciation. When the trading engine started, there were 30 million Spice traded during the first week and the Spice token saw a seven-fold increase in market capitalization. Cryptophyl was a project that took months to build and develop, the creators told news.Bitcoin.com earlier this week. Cryptophyl’s mission is to partner and grow with the very best SLP token projects with special attention toward the European market.

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH

The London-based Cryptophyl aims to bolster SLP token price discovery through “due diligence and subsequent listing of quality tokens that demonstrate real-world utility.” The team noted that the Spice appreciation token has been a popular and fast-growing SLP token. On August 6, the trading platform airdropped 5 million Spice to all of Cryptophyl’s registered users. Cryptophyl founder Semyon Germanovich said during the launch that he has high expectations for the SLP token universe.

“At Cryptophyl’s heart is a shared vision of how SLP token technology can transform voting, transparency, ticketing, social media and a plethora of other exciting use cases,” Germanovich explained on Tuesday. “The low fees, large blocks and solid development community offered by Bitcoin Cash lay the perfect foundation a token economy.”

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH
Cryptophyl trading engine.

Germanovich stated that his team learned a lot from the Voltaire experience and the people behind Cryptophyl worked tirelessly to prepare the unique trading platform. The founder also mentioned he’s seen a lot of demand for this type of exchange that allows SLP tokens to be traded directly for BCH. “I’m excited by the reception in the trading community to the first iteration of our unique business model,” Germanovich remarked. “The partnerships we have formed and those in the works are going to result in huge value delivery to our users, the cryptocurrency community and the wider population.” The Cryptophyl founder added:

We’re seeing unique technology (SLP) being used to build innovative solutions to complex problems. One example is the aggregation of media through Telegram tipping, achieved by our flagship token product: Spice. Simple Ledger Protocol is the most exciting thing since I’ve discovered since Bitcoin. This is just the beginning.

A Look at Cryptophyl From the Inside

News.Bitcoin.com decided to test the trading engine to give our readers a glimpse of the project. Signing up takes less than a minute and requires a name, valid email, and password to register. You also have to certify that you are 18 years old and then verify the email Cryptophyl sends to you. You will then have access to the Cryptophyl dashboard which shows you the native wallets for BCH and Spice. If you want to trade on the exchange you need to deposit either bitcoin cash (BCH) or Spice by selecting the deposit button. Also, you want to secure your Cryptophyl account using two-factor authentication (2FA) and you can do this in the settings section. In the trading section, the exchange looks just like any other platform that showcases buy orders, sell orders, and past trades.

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH
As of right now the Cryptophyl exchange only supports one SLP token and bitcoin cash (BCH) deposits. Bitcoin.com offers you the opportunity to purchase bitcoin cash (BCH) and other leading coins. If you’d like to obtain some BCH to use on the Cryptophyl trading platform – check out Buy.Bitcoin.com today

When you deposit some Spice or BCH you will see your balance within the buy or sell section. For example, if you decided to sell 25,250 Spice with a limit price of 315 satoshis the platform will show you the total amount of BCH you can obtain at current prices. If you have any issues with Cryptophyl you can contact the support team by email or reach out to the Cryptophyl Telegram community. The exchange is interesting given the fact that it’s dedicated to supporting SLP token trading against BCH, but the project is still in its infancy with only one token listed.

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH
Users can deposit funds using a BCH address and for SLP tokens an SLP format address is used. Both addresses can be scanned via QR code or by copy and pasting the address to the computer clipboard.

It will take time for more SLP token markets to mature but a slew of them have market capitalizations already. For instance, besides Spice, SLP tokens like ACD, Merits, and the Coinflex Flex token all have seen price discovery. The Coinflex Flex SLP token has a $ 20 million market valuation and has been seeing around $ 100,000 in daily volumes. There’s also the SLP token Honestcoin (USDH) which is a regulated stablecoin backed by USD.

Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH
After depositing funds you can start trading on the Cryptophyl.com exchange.

More Cryptocurrency Exchanges Supporting the SLP Token Universe

Assuming Cryptophyl adds tokens like these, the exchange could become an interesting type of platform that assists the SLP ecosystem. Further SLP tokens will be supported on the upcoming trading platform Exchange.Bitcoin.com which will launch on September 2. With more SLP trading options from services like Exchange.Bitcoin.com, Cryptophyl, Altilly Exchange, Coinex, and Coinsuper, users will have access to more liquidity and be able to obtain some of the most popular SLP tokens used today. For now, the SLP ecosystem is still very young and many of the new tokens are finding different paths and use cases. Cryptophyl’s team is betting the SLP universe will continue to see demand and its dedicated SLP trading engine is proof of that belief.

What do you think about the new SLP trading platform Cryptophyl? Let us know what you think about this unique exchange in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned software. Bitcoin.com or the author 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, software or services mentioned in this article. This editorial review is for informational purposes only.


Image credits: Shutterstock, Cryptophyl.com, and Jamie Redman.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. Also, we just announced launching a cryptocurrency exchange on September 2, 2019. Pre-register today at Exchange.Bitcoin.com to take part in rewards and trading incentives.

The post Cryptophyl.com Launches Dedicated Exchange for SLP Tokens and BCH appeared first on Bitcoin News.

Bitcoin News

Newest Reported Launches by N. Korea a ‘Warning’ to US

August 7, 2019 |

North Korea said Wednesday leader Kim Jong Un supervised a live-fire demonstration of newly developed short-range ballistic missiles meant to send a warning to the US and South Korea over their joint military exercises. KCNA said two missiles launched from a western airfield flew across the country and over the…
Newser

SpaceX successfully launches twice-flown Falcon 9, catches fairing at sea

August 7, 2019 |

SpaceX successfully launched a Falcon 9 first-stage that had previously served two missions in July and November of 2018, today carrying its final payload, the AMOS-17 satellite for Spacecomm. SpaceX had configured the Falcon 9 in its ‘expendable mode’ for this mission, which means it made use of all available fuel on board to carry the 14,000+ lb satellite to orbit, without enough left over to come back in a controlled descent and landing.

A service life of three full missions is nothing to sneeze at, however, and definitely helps SpaceX save some costs on each of the missions flown by this flight-proven rocket booster. Meanwhile, everything looks to have gone to plan in terms of the AMOS-17 mission parameters, too. The multi-purpose geostationary communications satellite, which will provide mobile, streaming and video connectivity across parts of the Middle East, Africa, and Europe, reached geostationary transfer orbit and then reached its target orbit and deployed as planned.

SpaceX also recovered at least the fairing used to protect the cargo as it ascends to space tonight –it managed to catch one half in a giant net strung across support structures on ‘Ms. Tree,’ a ship operated by SpaceX specifically for this purpose. The other half fell into the ocean, and SpaceX will try to collect that half as well, using a second ship it has for that purpose.

spacex fairing catch amos 17

SpaceX has recovered a fairing half using the net mounted on ‘Ms. Tree’ previously – it caught a fairing used in its last Falcon Heavy launch in June.

TechCrunch

Gordon Chang: Trump shows smart reaction to North Korea missile launches – but his patience has limits

August 2, 2019 |

Trump shouldn’t minimize North Korea’s provocative acts. Yet there is one powerful reason he is right to show nonchalance and not react immediately.
FOX News

PR: Bitpunter Launches Transaction Mining for Online Gaming

August 1, 2019 |

PR: Bitpunter Launches Transaction Mining for Online Gaming

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The recent advent of transaction mining as a business model has taken the cryptocurrency world by storm, with transaction fee mining exchanges such as BitMax and FCoin overtaking other long-serving exchange powerhouses in a short span of time.

Conventional cryptocurrency exchanges have had a simple business model of charging transaction fees on the end user when an order is successfully matched and executed. Transaction fees are typically charged as a small fraction (0.10 – 0.30 %) of the traded amount. As a result, users that are large traders or engage in high frequency strategies tend to wrack up a large amount of fees.

Transaction Mining represents a paradigm shift from this traditional business model. Instead of simply collecting fees from end users, fees are redistributed back to users through the issuance and awarding of native utility tokens. A token buy-back mechanism or a partial trading fee distribution to token holders Is subsequently instated to create value. The proposition to users is decidedly attractive; instead of paying for the trading of cryptocurrencies, they obtain additional native tokens which has trading value and a stake in the fee revenue of the exchange itself in return. Market response corroborates with unprecedented record trading volumes, showing that the transaction mining model is an effective incentive for user growth and activity.

Bitpunter Gaming Platform, an online gaming platform with a range of casino and sportsbook products, seeks to reproduce the success of the transaction mining model in the realm of gaming. With a slated official full launch on January 2020, the Bitpunter Gaming platform will feature both crypto and fiat currency deposit options, and a pioneering game transaction mining model. By playing on the Bitpunter Gaming Platform, players are awarded BPTT Tokens in accordance to their gaming turnover. 80% of net gaming revenue generated on the Bitpunter Gaming Platform will be sent to a “Game Data Fee Pool”, which is distributed to the pool of token holders in proportion to the number of tokens they hold in relation to total supply.

Dennis Loke, CEO of Bitpunter Gaming Platform, explains the underlying motivation of introducing transaction mining to the gaming industry. “The gaming industry has been implementing largely homogeneous reward programs and user incentives, which does not necessarily provide value to users on a continuous basis, and hence does not promote user loyalty. We aim to break the status quo through a transaction mining model which will hopefully incentive and attract players to come to our platform and play for a long time, as they will earn tokens which provides value for them in perpetuity.”

To find out more about the platform, visit http://bitpunter.io

Contact Email Address
yl.here2@gmail.com

Supporting Link
https://bitpunter.io

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: Bitpunter Launches Transaction Mining for Online Gaming appeared first on Bitcoin News.

Bitcoin News

Blockchain.com Launches High Speed Crypto Exchange for Retail Traders

July 30, 2019 |

Cryptocurrency investors looking for a trading platform focused on high speed performance just got a brand new option, from a company they probably already know and trust. Popular wallet provider Blockchain.com is launching The Pit.

Also Read: Blockchain.com Launches New Bitcoin Cash Block Explorer

Institutional-Grade Platform for Retail Investors

Blockchain.com, the well-known provider of cryptocurrency products with over 40 million wallets created to date, has announced it is launching a new microsecond-latency crypto exchange called The Pit. The institutional-grade platform will be available from launch in over 240 markets around the world, including a select number of U.S. states.

The new service is focused on speed, and the company says that after extensive R&D its custom “Mercury” matching engine now delivers faster execution than any other crypto exchange. It is also hosted in one of the fastest and most reliable low-latency data centers in the world (Equinix LD4), promising to offer reliability and performance regardless of market conditions. Additionally, a feature called Blockchain Connect will allow the company’s many wallet users to transfer funds directly to and from their Pit account, all while managing their digital assets through a single provider.

Addressing another concern that many investors have in various markets around the world, the company assures traders that it will never trade against its clients or give itself superior access to the market. “The current crypto exchange market is outdated, broken, and skewed against users. We got tired of waiting for a new entrant to deliver the performance today’s traders demand,” explained Peter Smith, Blockchain CEO. “We decided to take matters into our own hands, and built an exchange that puts users first, including the 40M wallets on our platform.”

Blockchain.com Launches High Speed Crypto Exchange for Retail Traders
The PIT dashboard

The new exchange will launch with a global banking network to facilitate deposits, withdrawals, and fiat-to-crypto trading in USD, EUR, and GBP. It will feature bitcoin cash (BCH) as a core asset at launch, alongside additional initial cryptos such as BTC, ETH, and LTC, as well as stablecoins such as USDT, and PAX, for a total of 26 trading pairs. The company also plans to rapidly add additional tokens, pairs, and products in the near term.

The trading venue will launch with the support of a diverse group of market markers backed by a deep lending pool. “This project has been developed by an accomplished team with demonstrated experience in managing one of the largest userbases of crypto traders. The crypto ecosystem needs more exchanges that are striving for institutional-grade architecture, decreased latency, and more robust liquidity. We look forward to playing our part in developing The PIT into one of the leading trading venues,” commented Cristian Gil, Co-Founder of GSR, one of the global market makers on the platform.

The new service is offered to American users by a U.S.-financial institution regulated by the Department of the Treasury. All users will have to be at least Silver Tier KYC to trade, which requires providing a legal name, verified email, date of birth, and address. Gold Tier KYC requires a photo of a government issued ID and of the applicant, but opens up higher trading amounts and features on both the wallet and the exchange.

Built by a Well Experienced Pit Crew

The CEO of the company has revealed that the new platform was developed in secrecy over the past year by a dedicated new group of employees inside Blockchain.com. This stealth team was joined by veterans from finance and technology firms such as NYSE, TD Ameritrade, E*Trade, Google, Goldman Sachs, UBS, Interactive Brokers and Revolut. “We’re incredibly lucky to have assembled a world class team who have been heads-down building The PIT for the past year. The ‘PIT Crew’ as we call them, has an unmatched level of technical skills and the domain expertise required to develop a product of this caliber,” stated Smith.

Blockchain.com Launches High Speed Crypto Exchange for Retail Traders

Nicole Sherrod, the firm’s previously unannounced Head of Retail Products, joined last July to lead product development of the trading platform. She previously led the active trading product division at online brokerage giant TD Ameritrade. “I’ve dedicated my career to championing the retail investor and giving them a powerful trading experience that is not only fair, but provides an edge,” explained Sherrod. “When Peter approached me with his vision for The PIT, I realized this was an even greater impact on retail crypto traders everywhere.”

Tom Haller, previously the Chief Software Architect for trading systems at the New York Stock Exchange, led the development of the exchange’s matching engine. “Whereas most cryptocurrency exchanges run alongside slow, consumer applications in the cloud, The PIT leverages best practices from Wall Street to facilitate rapid, efficient, and high-quality trade execution at HFT [high-frequency trading] speeds,” commented Haller.

Bitcoin Cash-Friendly Company

Blockchain.com is one of the most trusted companies in the digital assets space, and has raised over $ 70 million in funding from investors such as Lightspeed Venture Partners and Google Ventures. It is also known for being friendly to the BCH community, integrating the cryptocurrency into its services. Earlier this year, for example, the company launched a Bitcoin Cash block explorer that allows users to search for detailed information on specific BCH blocks, check whether a transaction has confirmed, view the balance of a wallet address, monitor market prices, and even watch real-time network transactions.

Blockchain.com Launches High Speed Crypto Exchange for Retail Traders

In January of this year, the wallet provider also created an educational tool called Blockchain Primers. The service is intended to offer a relatively concise overview of each crypto asset including background material, the latest market data and analysis. The first report issued on it was an introduction to BCH, whose advantages over BTC, according to the research, include greater maximum onchain transaction capacity, lower average transaction fees, and additional smart contract functionality.

What do you think about the new trading platform from Blockchain.com? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Blockchain.com.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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Bitcoin News

The Knight Foundation launches $750,000 initiative for immersive technology for the arts

July 28, 2019 |

The John S. and James L. Knight Foundation is looking for pitches on how to enhance and augment traditional creative arts through immersive technologies.

Through a partnership with Microsoft the foundation is offering a share of a $ 750,00 pool of cash and the option of technical support from Microsoft, including mentoring in mixed-reality technologies and access to the company’s suite of mixed reality technologies.

“We’ve seen how immersive technologies can reach new audiences and engage existing audiences in new ways,” said Chris Barr, director for arts and technology innovation at Knight Foundation, in a statement. “But arts institutions need more knowledge to move beyond just experimenting with these technologies to becoming proficient in leveraging their full potential.”

Specifically, the foundation is looking for projects that will help engage new audiences; build new service models; expand access beyond the walls of arts institutions; and provide means to distribute immersive experiences to multiple locations, the foundation said in a statement.

“When done right, life-changing experiences can happen at the intersection of arts and technology,” said Victoria Rogers, Knight Foundation vice president for arts. “Our goal through this call is to help cultural institutions develop informed and refined practices for using new technologies, equipping them to better navigate and thrive in the digital age.”

Launched at the Gray Area Festival in San Francisco, the new initiative is part of the Foundation’s art and technology focus, which the organization said is designed to help arts institutions better meet changing audience expectations. Last year, the foundation invested $ 600,000 in twelve projects focused on using technology to help people engage with the arts.

“We’re incredibly excited to support this open call for ways in which technology can help art institutions engage new audiences,” says Mira Lane, Partner Director Ethics & Society at Microsoft. “We strongly believe that immersive technology can enhance the ability for richer experiences, deeper storytelling, and broader engagement.”

Here are the winners from the first $ 600,000 pool:

  • ArtsESP – Adrienne Arsht Center for the Performing Arts

Project lead: Nicole Keating | Miami | @ArshtCenter

Developing forecasting software that enables cultural institutions to make data-centered decisions in planning their seasons and events.

  • Exploring the Gallery Through Voice – Alley Interactive

Project lead: Tim Schwartz | New York | @alleyco@cooperhewitt@SinaBahram

Exploring how conversational interfaces, like Amazon Alexa, can provide remote audiences with access to an exhibition experience at Cooper Hewitt, Smithsonian Design Museum.

  • The Bass in VR – The Bass

Project lead: T.J. Black | Miami Beach | @TheBassMoA

Using 360-degree photography technology to capture and share the exhibit experience in an engaging, virtual way for remote audiences.

  • AR Enhanced Audio Tour – Crystal Bridges Museum of American Art

Project lead: Shane Richey | Bentonville, Arkansas | @crystalbridges

Developing mobile software to deliver immersive audio-only stories that museum visitors would experience when walking up to art for a closer look.

  • Smart Label Initiative – Eli and Edythe Broad Art Museum at Michigan State University

Project lead: Brian Kirschensteiner | East Lansing, Michigan | @msubroad

Creating a system of smart labels that combine ultra-thin touch displays and microcomputers to deliver interactive informational content about artwork to audiences.

  • Improving Arts Accessibility through Augmented Reality Technology – Institute on Disabilities at Temple University, in collaboration with People’s Light

Project lead: Lisa Sonnenborn | Philadelphia | @TempleUniv,@IODTempleU@peopleslight 

Making theater and performance art more accessible for the deaf, hard of hearing and non-English speaking communities by integrating augmented reality smart glasses with an open access smart captioning system to accompany live works.

  • ConcertCue – Massachusetts Institute of Technology (MIT); MIT Center for Art, Science & Technology

Project lead: Eran Egozy | Cambridge, Massachusetts | @EEgozy,@MIT,@ArtsatMIT@MIT_SHASS

Developing a mobile app for classical music audiences that receives real-time program notes at precisely-timed moments of a live musical performance.

  • Civic Portal – Monument Lab

Project lead: Paul Farber and Ken Lum | Philadelphia | @monument_lab@PennDesign@SachsArtsPhilly@paul_farber

Encouraging public input on new forms of historical monuments through a digital tool that allows users to identify locations, topics and create designs for potential public art and monuments in our cities.

  • Who’s Coming? – The Museum of Art and History at the McPherson Center

Project lead: Nina Simon | Santa Cruz, California | @santacruzmah@OFBYFOR_ALL

Prototyping a tool in the form of a smartphone/tablet app for cultural institutions to capture visitor demographic data, increasing knowledge on who is and who is not participating in programs.

  • Feedback Loop – Newport Art Museum, in collaboration with Work-Shop Design Studio

Project lead: Norah Diedrich | Newport, Rhode Island | @NewportArtMuse

Enabling audiences to share immediate feedback and reflections on art by designing hardware and software to test recording and sharing of audience thoughts.

  • The Traveling Stanzas Listening Wall – Wick Poetry Center at Kent State University Foundation

Project lead: David Hassler | Kent, Ohio | @DavidWickPoetry,@WickPoetry,@KentState@travelingstanza

Producing touchscreen installations in public locations that allow users to create and share poetry by reflecting on and responding to historical documents, oral histories, and multimedia stories about current events and community issues.

  • Wiki Art Depiction Explorer – Wikimedia District of Columbia, in collaboration with the Smithsonian Institution

Project lead: Andrew Lih | Washington, District of Columbia | @wikimedia@fuzheado

Using crowdsourcing methods to improve Wikipedia descriptions of artworks in major collections so people can better access and understand art virtually.

TechCrunch

Justice Department Launches Big Tech Antitrust Probe

July 24, 2019 |

The Department of Justice has opened a sweeping antitrust investigation of big technology companies and whether their online platforms have hurt competition, suppressed innovation, or otherwise harmed consumers. It comes as a growing number of lawmakers have called for stricter regulation or even breaking up of the big tech companies,…
Newser