#Havven stable coin

[mitzikernan]

What is a Stablecoin?

Have you ever wondered if there's a way to invest in cryptocurrency without the high levels of volatility? Introducing stablecoins, a type of cryptocurrency that is designed to maintain a stable value. Unlike traditional cryptocurrencies, stablecoins offer a more reliable and less volatile form of digital currency, making them an attractive investment option for many people. Stablecoins achieve their stability through various means, such as being backed by an underlying asset, like a fiat currency or a commodity, or using an algorithm to adjust their supply based on demand. This makes them a more secure and stable investment option compared to traditional cryptocurrencies, which are known for their extreme price fluctuations. In this comprehensive guide, we will explore the features, use cases, and risks of stablecoins. We will also discuss how they compare to traditional cryptocurrencies, and why they have become such a popular investment option. By the end of this guide, you'll have a thorough understanding of stablecoins and their potential to revolutionize the cryptocurrency market. So, read on to learn more about this exciting new form of digital currency! What is a Stablecoin? A stablecoin is a type of cryptocurrency that is designed to maintain a stable value. Unlike other cryptocurrencies, whose value can fluctuate wildly, stablecoins are pegged to an underlying asset or basket of assets, such as the US dollar, gold, or other cryptocurrencies. This means that the value of a stablecoin is tied to the value of the underlying asset, which helps to stabilize its price. How Does a Stablecoin Work? Stablecoins are designed to maintain a stable value through a variety of mechanisms. One common method is through the use of a reserve of the underlying asset that backs the stablecoin. For example, if a stablecoin is pegged to the US dollar, the issuer of the stablecoin would hold a reserve of US dollars to ensure that the value of the stablecoin remains stable. Another method used by some stablecoins is through algorithmic mechanisms that adjust the supply of the stablecoin based on its demand. For example, if the demand for a stablecoin increases, the algorithm would automatically create more of the stablecoin to meet that demand. On the other hand, if the demand for the stablecoin decreases, the algorithm would automatically decrease the supply to maintain a stable value. Types of Stablecoins There are several different types of stablecoins, each with its own unique characteristics and use cases. Fiat-Collateralized Stablecoins Fiat-collateralized stablecoins are backed by an underlying fiat currency, such as the US dollar, Euro, or Japanese Yen. The stablecoin issuer holds a reserve of the fiat currency that backs the stablecoin. For example, if a stablecoin is pegged to the US dollar, the issuer of the stablecoin would hold a reserve of US dollars to ensure that the value of the stablecoin remains stable. Examples of fiat-collateralized stablecoins include Tether (USDT), USD Coin (USDC), and TrueUSD (TUSD). Crypto-Collateralized Stablecoins Crypto-collateralized stablecoins are backed by an underlying cryptocurrency, such as Bitcoin or Ethereum. The stablecoin issuer holds a reserve of the cryptocurrency that backs the stablecoin. For example, if a stablecoin is pegged to Bitcoin, the issuer of the stablecoin would hold a reserve of Bitcoin to ensure that the value of the stablecoin remains stable. Examples of crypto-collateralized stablecoins include Dai, BitUSD, and Havven. Algorithmic Stablecoins Algorithmic stablecoins, also known as non-collateralized stablecoins, are not backed by any underlying asset. Instead, their value is maintained through algorithmic mechanisms that adjust the supply of the stablecoin based on its demand. Examples of algorithmic stablecoins include Basis, Empty Set Dollar (ESD), and Frax. Advantages of Stablecoins Stablecoins offer several advantages over traditional cryptocurrencies. Stability One of the main advantages of stablecoins is their stability. Unlike other cryptocurrencies, whose value can fluctuate wildly, stablecoins are designed to maintain a stable value. This makes them a more reliable store of value and a better medium of exchange. Transparency Stablecoins are often more transparent than traditional cryptocurrencies. This is because many stablecoins are backed by an underlying asset, such as a fiat currency or a cryptocurrency. This means that the issuer of the stablecoin is required to hold a reserve of the underlying asset to back the stablecoin. This reserve can be audited by third-party auditors, which helps to ensure that the stablecoin is fully backed and that its value is stable. Accessibility Stablecoins are often more accessible than traditional cryptocurrencies. This is because stablecoins are designed to maintain a stable value, which makes them a more reliable store of value and a better medium of exchange. This means that stablecoins can be used for a wide range of purposes, such as buying goods and services, making cross-border payments, and investing in other cryptocurrencies. Decentralization Many stablecoins are decentralized, which means that they are not controlled by any central authority. Instead, they are governed by a decentralized network of nodes that operate according to a set of rules and protocols. This makes stablecoins more resistant to censorship and government interference. Use Cases for Stablecoins Stablecoins have a wide range of use cases, including: Cross-Border Payments Stablecoins are often used for cross-border payments because they are fast, reliable, and cost-effective. Unlike traditional payment methods, such as wire transfers or international credit card payments, stablecoin transactions can be settled instantly and at a lower cost. Trading Stablecoins are often used for trading because they can be easily traded for other cryptocurrencies or fiat currencies. This makes stablecoins a more reliable and stable trading pair than other cryptocurrencies, which can be more volatile. Investing Stablecoins are often used for investing in other cryptocurrencies because they offer a more stable and reliable store of value than other cryptocurrencies. This makes stablecoins a safer and more reliable investment option for those who are looking to invest in the cryptocurrency market. Decentralized Finance (DeFi) Stablecoins are often used in decentralized finance (DeFi) applications, such as lending and borrowing platforms, because they are stable and reliable. This makes stablecoins a more reliable and stable form of collateral than other cryptocurrencies, which can be more volatile. Risks of Stablecoins While stablecoins offer several advantages over traditional cryptocurrencies, they are not without their risks. Centralization Some stablecoins are centralized, which means that they are controlled by a single entity. This makes them more vulnerable to censorship and government interference than decentralized stablecoins. Counterparty Risk Stablecoins that are backed by an underlying asset, such as a fiat currency or a cryptocurrency, are subject to counterparty risk. This means that if the issuer of the stablecoin were to go bankrupt or fail to maintain the reserve of the underlying asset, the value of the stablecoin could decrease or become worthless. Regulatory Risk Stablecoins are often subject to regulatory risk, especially if they are designed to be used for cross-border payments or other financial transactions. This is because stablecoins may be subject to the same regulations and restrictions as traditional financial institutions, such as anti-money laundering (AML) and know-your-customer (KYC) regulations. Conclusion Stablecoins offer several advantages over traditional cryptocurrencies, including stability, transparency, accessibility, and decentralization. They have a wide range of use cases, including cross-border payments, trading, investing, and decentralized finance (DeFi). However, they are not without their risks, including centralization, counterparty risk, and regulatory risk. Overall, stablecoins have the potential to revolutionize the cryptocurrency market by providing a more stable and reliable form of digital currency. Facts A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, typically pegged to a stable asset, such as a fiat currency like the US dollar or a commodity like gold. The goal of stablecoins is to reduce volatility, which is one of the biggest challenges faced by traditional cryptocurrencies like Bitcoin and Ethereum. There are several types of stablecoins, including centralized stablecoins, which are issued and backed by a centralized authority or institution, and decentralized stablecoins, which are backed by a decentralized network of users. Centralized stablecoins are typically backed by reserves of the underlying asset or held in a bank account, while decentralized stablecoins use algorithms to maintain their peg to the underlying asset. Stablecoins have gained popularity in recent years due to their potential use cases, such as cross-border payments, trading, and investing. They offer many advantages over traditional cryptocurrencies, such as reduced volatility, faster transaction times, and lower transaction fees. However, they are not without their risks, including regulatory risk and the risk of a stablecoin losing its peg to the underlying asset. FAQs How does a stablecoin maintain a stable value? A stablecoin maintains a stable value by being pegged to an underlying asset, such as a fiat currency or a commodity, or by using an algorithm to adjust its supply based on demand. What are the benefits of using stablecoins? Stablecoins offer several benefits over traditional cryptocurrencies, including reduced volatility, faster transaction times, lower transaction fees, and easier access to liquidity. What are the risks of using stablecoins? The risks of using stablecoins include regulatory risk, counterparty risk, and the risk of a stablecoin losing its peg to the underlying asset. Are stablecoins decentralized or centralized? Stablecoins can be either decentralized or centralized, depending on their design. Centralized stablecoins are backed by a centralized authority or institution, while decentralized stablecoins are backed by a decentralized network of users. What are some use cases for stablecoins? Stablecoins have a wide range of use cases, including cross-border payments, trading, investing, and decentralized finance (DeFi). They can also be used as a store of value or a hedge against market volatility. Read More: - What is DeFi? - What is a Smart Contract? - What is Bitcoin (BTC)? - What is Ethereum (ETH)? - What is NFT? Sources: Here are some sources and links for further reading about stablecoins: - "Top Stablecoin Tokens by Market Capitalization" by CoinMarketCap: https://coinmarketcap.com/view/stablecoin/ - "What Are Stablecoins and How Do They Work?" by Investopedia: https://www.investopedia.com/terms/s/stablecoin.asp - "What is a Stablecoin?" by Binance Academy: https://academy.binance.com/en/articles/what-is-a-stablecoin - "Stablecoins: A Detailed Guide on the Crypto Industry's Answer to Fiat" by Blockonomi: https://blockonomi.com/stablecoins/ Read the full article

[tradecryptocoin-blog]

Reason Why I'm Invested Into Havven

Reason Why I'm Invested Into #Havven #TradeCrypto #TradeAltcoins #ToTheMoon #Lambo

In this Havven Cryptocurrency review, I explain why I’ve personally invested into the project in the lead up to their stable coin being released on June 11th. Time jumps included below.

I first break down the project to decipher how it will work in the simplest terms and then I explain the Havven project from an investing perspective including negatives and finally concluding with the major…

[mark-tencaten]

What are Stablecoins? Are they Solution to Cryptocurrency Problems?

Mark Tencaten explains that the utility of Bitcoin (BTC) and other virtual currencies as a means of exchange has been constrained by price volatility, which is why stablecoins, a more recent breed of cryptocurrency, are becoming more and more popular.

The list of stablecoins has expanded since Tether (USDT) became the first one in 2014. In addition to Tether (USDT), Havven's Nomin, True USD (USDT), Paxos Standard, USD Coin (USDC), Digix Gold, and Binance USD.

What are Stablecoins?

A currency is most helpful when it serves as a means of exchange and a store of value, regardless of whether it is the U.S. dollar or Dogecoin. For those activities, price stability is essential. Because of this, authorities work to maintain a general level of stability in the prices of traditional national currencies. A daily movement of 2% in the forex market of fiat currencies is a massive shift.

Mark Tencaten says that this does not happen in the Bitcoin world. During mid-November and mid-December of 2017, Bitcoin, the most well-known cryptocurrency in the world, soared from less than 6,000 dollars to more than 19,000 dollars before dropping to roughly 6,900 dollars by early February 2018. More recently, it increased from 5,000 dollars in March 2020 to 44,000 dollars by August 2021, a significant increase. It is not unusual to see cryptocurrencies increase or decrease by 10% over the course of a day, even on an intraday basis.

Such large swings are not indicative of a stable currency. This has raised significant concerns about whether well-known cryptocurrencies serve any purpose other than speculation.

Stablecoins are a new type of cryptocurrency that intends to offer the price stability needed to promote widespread use. The best of both worlds is what stablecoins promise bitcoin supporters: stable valuation without the centralized control associated with cash.

How do stablecoins maintain their value?

Stablecoins aims to reduce volatility by fixing their price to the U.S. dollar and securing the worth of their units with liquid sources of collateral.

Mark Tencaten explains that stablecoins can be split into three categories based on how they decide to pursue price stability.

1.      Stablecoins with fiat collateral: The valuation of these stablecoins is supported by fiat money, such as the U.S. dollar. Precious metals like gold and silver, as well as commodities like crude oil, can also be used as collateral. To ensure that the stablecoin tokens are redeemed, collateral needs to be stored by a custodian and constantly audited.

Popular stablecoins Tether and TrueUSD are supported by dollar reserves and are linked at par with the U.S. dollar.

2.      Stablecoins with crypto collateral: Stablecoins that are crypto-collateralized are comparable to those that are fiat-backed, but their underlying collateral is a different cryptocurrency or a collection of cryptocurrencies rather than a fiat currency or a physical good.

Stablecoins backed by other cryptocurrencies are typically "over-collateralized," which means the value of the collateral exceeds the value of the tokens issued by a certain ratio to account for the negative effect of the collateral cryptocurrency's volatility.

The collateral for the Dai stablecoin is a collection of digital assets valued at 150 percent of the token value. It is tied to the value of the dollar.

It's a flawed system. The stablecoin's value will crash, contradicting its purpose; if the collateral cryptocurrency entirely fails, there are procedural problems with the auditing procedure, or demands for further top-ups of collateral are not delivered on schedule.

3.      Algorithmic stablecoins: Algorithmic stablecoins, whether collateralized or not, depend on an algorithm, or a system of rules, to regulate the supply of tokens and maintain their value.

An algorithmic stablecoin might, for instance, rely on a rule requiring adjustments to the token supply necessary to preserve the stablecoin's value. This is comparable to a central bank's responsibility to change interest rates to maintain price stability. The key distinction is that central banks, such as the U.S. Federal Reserve, establish a monetary system based on generally accepted guidelines and support it with an infinite supply of legal money. Such benefits are absent with algorithmic stablecoins like Basis and TerraUSD.

[findstuff]

Blockchain Technology Future Prediction for 2030 | 5 Blockchain Forecast

In 2017 cryptocurrencies took the world by a storm. The cost of a Bitcoin soared to almost $20,000. The average ICO returned more than 10x. ICO funding surpassed standard VC funding. Blockchain technology emerged as the brand-new buzzword of option by executives. Is this all simply buzz?

We also discuss Top Blockchain Technology Trends in 2019 in our previous article. This article will discuss the future of blockchain and some ”blockchain future trends.“ 

 Blockchain has a history of 10 years as the Bitcoin blockchain was implemented in 2009 for the first time.

We argue this is just the start. As a matter of fact, both Ray and also I left our tasks at the well-known innovation research study company, Gartner, to join the blockchain motion. Here is how we believe ‘blockchain innovation’ will certainly form the globe by 2030.

 Blockchain Forecast # 1: Government Crypto

 Governments all around the world are adopting Blockchain Technology. By 2030, most federal governments all over the world will create or adopt some form of digital currency.

 The federal government currency of the future is certainly crypto. Compared to the conventional fiat choice, cryptocurrency is a lot more efficient, offers minimized negotiation times, and also offers increased traceability. Cryptocurrency can also be backed by genuine properties, comparable to fiat money, and also its cost can be synthetically manipulated by various controls (e.g., financial plan for "printing" much more tokens). Blockchain can revolutionized the financial transactions. In the meantime, blockchain has the potential to revolutionize the sports industry.

 In the short-term, government-based cryptocurrency will come to be an area of testing and expeditions, led primarily by creating nations with unsteady economic situations and also weak institutions. Many of such initiatives will certainly relocate a rash fashion-- with a timeline driven by political concerns as opposed to financial issues or technological development. Consider the Zimbabwe buck, for example, which has actually endured incredible inflation of 500,000,000,000%.

Many Zimbabweans have currently relied on Bitcoin as a hedge against their nationwide currency, thereby driving the Bitcoin price up on the local crypto-market. Creating a brand-new cryptocurrency offers a practical solution for the Zimbabwean federal government to ease the grim understanding of its nation's monetary challenges. In the short term, such efforts might show really effective.

Considering Venezuela's newly produced cryptocurrency "petro" elevated over $5 billion throughout the pre-sale occasion, several various other countries will follow suit. Nonetheless, much of these early tasks will unavoidably fail because of the onset of the innovation which is yet to mature as well as a result of lack of in-house expertise by a corresponding federal government in charge.

 In a great deal of these situations, such experiments will be unintended. Simply put, governments moving on with a cryptocurrency job may not understand that they are guinea pig in their own experiments. As a result of the lack of requisite knowledge inside, these governments will certainly look to outside working as consultants, a few of which are newly developed as well as with restricted sources.

Therefore, lots of federal governments will certainly wind up victimized by cyberpunks, as a result of inadequate or incompletely implemented practices pertaining to private-key management as well as relevant processes. This scenario parallels the early days of the Internet, where major companies that were successful in business (yet not knowledgeable about shopping) made errors in initial implementations, causing loss of data and funds.

 In the long run, however, effective situations will emerge. Future generation blockchain technology will certainly solve lots of present constraints, such as scalability, personal privacy controls, toolset maturity, as well as interoperability.

Price-stable tokens regulated by financial plans and backed by collateral will certainly start to acquire traction as they end up being more dependable as a way of exchange and as a store of value. Governments that have stopped working to produce a successful cryptocurrency will certainly rely on "steady coins" as their virtual currency of option.

 Example Blockchain based companies attempting to fix this trouble today: Tether, BitShares, Manufacturer, Basecoin, Carbon, Stably, Havven, Kowala, TrueUSD, Arccy, Sweetbridge, Augmint, Fragments, Petro, as well as others.

 Blockchain Forecast #2: Trillion-Dollar Procedures

 By 2030, there will certainly be more trillion-dollar symbols than there will certainly be trillion-dollar firms.

 There is a race amongst the 4 most valued firms worldwide (based on stock exchange valuation) regarding which one will be the initial to reach one trillion bucks in worth. Apple, Amazon, Alphabet (Google), and Microsoft remain in a race to the "4-comma club."

 These business are all representative of the new economic situation-- one that should maybe be called the no-longer-so-new economic climate. This new-ish economic climate is one based upon the decades-long shift to electronic company and also online links.

It is the Web economic climate or what blockchain supporters call "Internet 2.0" (preparing for the following era, the blockchain period, as "Internet 3.0").

 The old (standard, pre-internet) economic climate is analog, brick-and-mortar, based upon oil as well as resource extraction, on production of basic materials and cultivation of foods items and also accouterments, and also on the transportation and also sale of these with typical physical channels.

Obviously, the real-life will not disappear. It is where we live, take a breath, eat, and also ambulate. Yet its economic role has actually declined in the grand system of points.

 The new-ish economic situation is a layer of worth on top of the physical substratum. It has not yet fully diffused with all edges of the globe and the economic sphere. Its impact will continue to expand, thus the high and also growing valuation in stock markets. It is feasible that after the very first trillion-dollar company, others will certainly additionally cross that threshold, as well as there might be 3 or 5.

 However the next era of blockchain technology is emerging, and that might comply with various pattern than previous waves of financial transformation. What the old economy and the new-ish economy have in common is that they are both based on the notion of a company.

In organization, there is a long-lasting idea of the concept of the firm, expressed in 1937 by Ronald Coase. The theory of the company looks for to attend to questions as: Why do companies exist? Why do they grow? How are they structured? What are the various functions of a company? And so forth.

 In our sight, checking out a company resembles taking a look at a single-cell microorganism, taking a look at its internal subsystems, and also at the semi-permeable membrane that allows the flow of certain materials throughout that limit.

Coase's concept is that firms exist since the cost of certain purchases or organisation processes inside the membrane is a lot lower than having to go across the border. Other purchases and also processes must cross the border (to do company with other entities), but particular features normally gravitate inside the wall surfaces of the company or microorganism.

 Blockchain innovation transforms the nature of this equation. It drastically lowers the expenses of transactions as well as information circulations. Where there was rubbing as well as impedance, these levels are lowered. Doing so deteriorates the conventional reasoning for a firm, specifically a trillion-dollar company.

Huge firms exist, partially, due to the fact that there is a substantial schism in between procedures that occur inside the wall surfaces versus those that cross to the exterior. Blockchain technologies change the formula and support frictionless circulations of symbols as well as other electronic assets.

 What this means is that, in the future blockchain era, trillion-dollar firms will certainly be replaced by trillion-dollar tokens-- symbols that support a decentralized the ecosystem of entities that together fulfill the function of the huge company. We remain in the dawn of that period, and also there will be a lot more trillion-dollar symbols in ten years than there will be trillion-dollar companies.

 Blockchain Forecast # 3: Blockchain Identity for All

 By 2030, a cross-border, blockchain-based, self-sovereign identity criterion will emerge for people, along with physical and digital possessions.

 If e-mail verified to be the "killer app" for the Net, identification services will verify to be the "awesome application for blockchain”. Identification systems, as we understand them today, are highly dysfunctional, operating in silos, as well as insecure. Blockchain based identity systems will certainly fix these issues. These blockchain based systems will supply a single resource of confirmation for individuals' identities and assets.

 ‘Blockchain based identity’ decentralizes the data collection, cross-verifies the collected data via a consensus mechanism, and stores this information on a decentralized immutable ledger. It enables reduced risk of security breaches, significantly higher efficiencies, higher reliability, and most importantly self-sovereignty.

 According to various data sources, 1.5 billion people in the developing world lack proof of identity, including more than 65 million refugees. Blockchain based self-sovereign identity platforms will provide the disenfranchised population with tools to obtain and maintain legal documentation.

The new identity platform will be more secure and reliable since it will be stored on a distributed ledger rather than being in the possession of a central authority. Blockchain-based identity platforms will also enable self-sovereignty, which ultimately means individual privacy.

The decision to disclose identity information will be within each individual's control. With recent Facebook data-breach scandals dominating the news, “blockchain-based identity” creates a viable and important solution to many data privacy issues.

 Some use cases for the types of data stored on a blockchain-based identity platform include (but are not limited to):.

 Government records (e.g., date of birth, etc.).

 Reputation & trust scores (e.g., credit history).

 Certificates & attestations (e.g., university diploma).

 Healthcare & medical records.

 Tax identification records.

 Employment records.

 While it is unlikely that, by 2030, a clear end-to-end solution will emerge as a clear winner, a high degree of interoperability among identity platforms will enable ease of use and global cross-verification.

 Furthermore, a blockchain-based asset identity platform will collect, store, and share data for both physical and virtual assets. More than 20 billion IoT devices are projected to exist by 2020. From your smart refrigerator to an airplane engine, these "smart" chips are already pervasive. By their nature, IoT devices are continuously connected to the internet.

They collect, store, and transport unique sets of data. Blockchain will provide a secure, reliable, and efficient mechanism for these devices to transact among one other. Blockchain will keep an immutable record of all interactions and will enable instantaneous payment settlements (e.g., two IoT devices transferring assets between each other).

 Virtual assets will also have a unique identity on a blockchain. One example of virtual assets would be crypto kitties, fictional cats existing in a virtual game and living on the Ethereum blockchain.

With the power of blockchain, these virtual objects are turned into tokenized assets which, similarly to physical assets, will have their unique identity. Ultimately, blockchain will enable an automated operating system seamlessly connecting individuals with assets in physical as well as in virtual worlds.

 Sample blockchain based companies solving individual identity today: uPort, BlockAuth, Civic, PeerMountain, IDRamp, Sovereign, Sovrin, LifeID, TrustedKey, Ping Identity, SelfKey, TheKey, NuID, ValidatedID, 2way. io, Microsoft, CryptID, ExistenceID, IBM, Blockstack, BlockCerts, Lumeno.us, etc

 Sample blockchain based companies solving physical & virtual asset identity today: WAX, Verses, BlockV, Xage, Guardtime, Filament, Chronicled, Blocksafe, DMarket, etc

 Blockchain Prediction # 4: World Trade on a Blockchain

 By 2030, most of world trade will be conducted leveraging blockchain technology. Blockchain will emerge as the growing technology of future.

 One of the most promising areas where blockchain can provide significant business value is global supply chain. In its current state, world trade is conducted via a chaotic, fragmented set of business relationships among parties that are untrusted.

The future of blockchain is really promising. We have to wait till the world completely adopt the ‘blockchain technology’. This results in inefficiencies, errors, and fraud. This is a set of real-world business problems that are currently unsolved and cannot be fully solved without using blockchain technology.

 Some examples of real-world supply chain problems that need to be solved are:

 Counterfeit medicines in the pharmaceutical industry.

Food supply chain in China (the tragic case of adulterated infant formula).

Fake Louis Vuitton handbags and other fashion apparel in Asia.

Counterfeit auto parts in North America.

Grey market or counterfeit electronic equipment, including medical devices (World Health Organization (WHO) estimates that 8% are fake).

Enterprise IT equipment-- a major manufacturer of enterprise networking equipment estimates 10% of products in its multi-billion-dollar supply chain are grey market.

As is evident, the problems in global supply chains are significant and, in some cases, life-threatening. According to WHO, tens of thousands of people die from counterfeit drugs every year.

The solution to these problems is difficult because the business ecosystems are fragmented, siloed, only partially automated, and lacking a trusted central authority with jurisdiction, resources and credibility to track provenance and certify authenticity.

 Unlike the example of the banking industry, where there is an existing system (SWIFT) that works correctly and reliably, in the supply-chain examples, there is no proven, working system. There is no order, only chaos. Therefore, disruption is not an option, because disruption implies disintermediating or dismantling an existing system.

 What is required is "anti-disruption"-- i.e., bringing order to chaos by using blockchain technology as a force for unification: to unify disparate flows of payment, physical goods and information. This won't be easy, and complete solutions will take years to build. In effect, one is constructing an ERP system for a business ecosystem, which means it will take longer and be more difficult than building an ERP system for a single company.

 Also, as mentioned earlier, the technology does not yet have the functional scope, flexibility, performance, efficiency, and maturity. Once it matures, the problems in supply chains are real enough, and important enough that solutions will eventually be built, and blockchain will play a critical role in these future solutions.

 Sample Blockchain based Companies: Skuchain, Provenance, Blockfreight, Blockverify, Caravaggio, Cargo Chain, Chain of Things, Consentio, Everledger, Filament, Fluent, Kioog, Kouvola Innovation, Mojix, Modum, Synechron, Tallysticks, Tradle, Wave, Zerado.

Also read:  Advantages of Blockchain Technology For Business

 Blockchain Prediction # 5: Blockchain 4 Good

 By 2030, significant improvements in the world's standard of living will be attributable to the development of blockchain technology.

 Poverty and income discrepancy are arguably the hardest problems for humanity to tackle. More than 10% of the world population, more than 750 million people, live on less than $2 a day. More than 2 billion people are considered to be unbanked and have no access to financial services. Though the overall living standards increase, and world's GDP is on the rise, the rich get richer and the poor get poorer.

 Blockchain technology has the potential to shrink the poverty gap. How? It can be done by increasing financial inclusiveness, reducing corruption, and enabling decentralized access to value-creating assets. Here are three examples.

 Financial inclusiveness is the most obvious benefit of cryptocurrencies like Bitcoin. As is already evident today, Bitcoin and blockchain enable the unbanked population to get banked, and therefore, get paid. One no longer needs to rely on a centralized institution, such as the government or a bank, to give you permission to open a bank account.

You can buy and sell Bitcoin on an open market (provided access to a crypto exchange) with access to a smartphone. A number of merchants around the world already accept cryptocurrencies. By 2030, cryptocurrency will serve as a de facto standard, similar to how the US dollar is widely accepted today.

 Second, blockchain technology reduces corruption by creating transparency of official records. Whether you are a farmer in rural Latin America or a house owner in Russia, you will no longer be driven out of your land by a corrupt official tampering with the land registry. All assets, including land, will be recorded on a transparent, tamper-free distributed ledger open for the public to see.

 Solving this problem alone will have massive financial implications on the global economy. According to a prominent economist, Hernando DeSoto, "dead capital," or, in other words, property or asset which is held but not legally recognized, is estimated at $20 trillion.

Uncertainty around asset ownership reduces asset price and tradability potential. Therefore, by creating a transparent, tamper-proof property and asset tracking system, blockchain technology has the potential to increase global wealth.

 Lastly, blockchain technology enables a massive-scale tokenization of value-generating assets only available to the rich right now. Think about buying The Plaza Hotel in New York City or an expensive piece of gold mining equipment producing a steady, recurring income stream over several years.

To purchase such an asset today, one has to borrow large sums of money from a bank and take an upfront risk on the purchase. Blockchain enables tokenization of large-scale assets. This means that even if you are a farmer in rural Africa, you can now become a fractional owner of a revenue-generating asset such as a gold mine.

I hope this article will help you out in letting know the future of blockchain Technology. Blockchain Future is really promising. It will take some time for the blockchain to emerge further all over the world.

Recommended:  The Journey of Blockchain Generations From 1st to 4th

[jacobhinkley]

A Complete A-Z of Stablecoins

Stablecoins have proliferated this year, so much so that it’s been hard to keep track of them all. In a bid to remedy that, news.Bitcoin.com has compiled a list of all stablecoins that are currently tradable – plus several others that are on their way. This is the ultimate A-Z of stablecoins. For now, at least.

Also read: An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend

B is for Basis

Basis, formerly known as Basecoin, is the hottest new stablecoin in town. It’s attracted investment from all the usual crypto bigshots, and intends to adhere to the US dollar via an algorithmically adjusted supply. This essentially means that when demand rises, more Basis will be created, and when it’s falling, more will be bought back. This expanding and contracting supply ought to help Basis maintain its peg.

B is for Bitusd

Bitusd is an old stablecoin now, and it’s starting to wobble. The bulk of its trade occurs on the Bitshares exchange where it was designed to operate, though it’s also available on Openledger DEX. While it would be stretching the truth to call Bitusd a ‘stable’ stablecoin these days, it still functions. Just.

  C is for Carbon

Carbon uses an algorithmically adjusted supply based on demand to maintain parity with the US dollar, a bit like Basis. Will it work? We’ll have to wait and see.

C is for CK USD

Little is known about CK USD, whose team are as mysterious as the workings of its stablecoin. Coinmarketcap has no data regarding its total circulating supply, but reports a staggering 24-hour volume of $137 million on BCEX and Allcoin. Whatever CK USD is, it seems to work.

D is for Dai

Dai, created using the Maker Dao, has a market cap 1/20th the size of Tether’s, but it’s a stablecoin on the up, while adhering closely to its obligatory dollar peg. What Dai lacks in market cap it makes up for in transparency. While there are concerns over the possibility of Dai’s collateral-based Ethereum assets being inadequate for maintaining the dollar peg during extreme market volatility, the stablecoin has worked faithfully so far.

H is for Havven

Havven has two stablecoins: nusd and eusd, the latter an Ethereum-based USD-pegged coin, while the n in the former stands for nomins, Havven’s unit of account. Havven’s stablecoins are primarily for use within its own ecosystem, so don’t expect to see this pair replacing Tether anytime soon, though there is an EOS version of nusd in the works.

K is for Kowala

Kowala (KUSD) has yet to be unleashed, but big things are expected of this eagerly anticipated token. A good stablecoin is like a good immune system: you only appreciate the job it was doing when it fails. The measure of any good stablecoin’s success is its ability to cling, limpet-like, to the US dollar through thick and thin.

N is for Nubits

Nubits is a failed stablecoin, and is included here as an example of what can happen when stablecoins go wrong. It’s currently trading on Upbit and Bittrex for $0.15. Despite miserably failing to keep its US dollar peg, which it abandoned sometime around January, Nubits is still performing better than most of this year’s ICO tokens.

R is for Rockz

Billed as “the world’s most bulletproof cryptocurrency”, Rockz is a Swiss stablecoin that’s launching soon. Unusually, it’s entering the world via an ICO. Rockz may not promise the moon, but if its token can remain rock solid with the US dollar, it’ll have done its job.

Rockz claims to outperform other stablecoins.

S is for Stably

All the cool kids (mostly VC funds) are investing in stablecoins right now. Stably raised $500,000 earlier this year ahead of its launch on the Ethereum and Stellar blockchains. Each USD-pegged Stably coin will be backed by a corresponding cash reserve.

S is for Steem Dollars

Dan Larimer is hailed by his acolytes as a visionary. The only trouble is that once he’s gotten cold feet and moved on to better things, the projects he’s left behind have a tendency to falter. Like Bitusd, Steem Dollars only resemble a US dollar in the vaguest possible sense these days. Someone needs to invent a term for a coin that’s no longer technically a stablecoin. Unstablecoin? Fablecoin? Yes, let’s go with fablecoin: a token whose promise of parity with the US dollar proves to be nothing more than fabulous fiction.

T is for Tether

Available on the Omni blockchain and also as an ERC20 token, Tether is the daddy of stablecoins. Supposedly backed by real USD deposits, the stablecoin maintains pretty close parity with its $1 peg. While a controversial stablecoin, largely on account of its creators’ failure to conduct a full financial audit, Tether’s $2.8 billion market cap makes it bigger than all but seven cryptocurrencies. But is it too big to fail? For now, at least, Tether seems to be working, even if its dollar peg is maintained more out of belief than anything.

T is for Trueusd

Trust Token’s Trueusd is backed by collateralized USD assets held in escrow accounts. In that respect, Trueusd’s model is similar to Tether, but with greater transparency. With Binance, Bittrex, and India’s Zebpay all adopting Trueusd, this stablecoin’s star is in the ascendancy.

U is for USD-C

Circle is reportedly working on its own stablecoin, which should first see life on Poloniex exchange, now under the stewardship of Circle. Little is known about USD-C, as the stablecoin has been named, but it will operate on the Ethereum network and will naturally be pegged to the US dollar.

U is for Usdvault

As we explained earlier this week, Usdvault is collateralized with “gold bullion that’s professed to be housed in Swiss vaults. The Vault creators claim the stable coin will be based off a 1:1 USD price ratio, but the asset’s 1:1 value is essentially backed by the precious metals located in Switzerland”.

Over a long enough timeframe, most of these stablecoins, like most cryptocurrencies in general, are probably destined for failure. For now, at least, those that are tradable (with the exception of Nubits), seem to work, give or take. As the saying goes, “Any port in a storm”, and in capricious crypto markets, stablecoins have been welcomed by all who’ve sought refuge in them.

Did we miss out any stablecoins? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post A Complete A-Z of Stablecoins appeared first on Bitcoin News.

A Complete A-Z of Stablecoins published first on https://medium.com/@smartoptions

[joshuajacksonlyblog]

Crypto Assets Offer New Opportunities for VCs on a Global Scale

As institutional capital in the crypto space increases regularly, the need for blockchain technology and related enterprise support is at an all-time high, and several companies are working hard to provide both as the arena expands.

One of those companies is Coefficient Ventures, a crypto fund set on financing blockchain systems worldwide. Thus far, the company has made over 25 investments in companies and applications like Filecoin for decentralized storage; Raiden for scalability; and Zeppelin to improve smart contract capabilities.

Speaking with Bitcoin Magazine, founding partner Chance Du described how she sees a central role for blockchain investment across all sectors of the global economy.

The global financial industry features significant flaws in its current design. Two billion of the world’s people have virtually no access to financial services, while an additional four billion have very limited access. Du says she began investing in blockchain technology in 2017 because she believes it can remove these barricades and allow for a “more accessible and democratized” financial infrastructure.

“The internet has been an extraordinary conduit for uploading, exchanging and disseminating information,” she explains. “However, until 2009, if you wanted to go and exchange value online, there was no way to do that. Whether it was data, money, the title to your car or home, you had to do it in a way that didn’t involve legacy institutions such as banks, governments and clearing houses. With blockchain technology, people can have bank accounts in their pockets. They no longer need these legacy institutions that have kept so many consumers out. Blockchain technology offers a value protocol which allows for the frictionless exchange of value.”

Hoping to assist businesses that can remove financial pain points from our monetary systems, Coefficient Ventures also offers extensive start-up support. Its current advisory portfolio includes projects like TomoChain, which seeks to build blockchain and crypto-based partnerships between national markets; IoTeX, a decentralized network for the Internet of Things; and Havven, a payment network and stable coin system based in Australia. Du says the next step involves collecting capital from accredited investors to fund these projects and incentivizing contributors to “build tools and services” to facilitate them.

As with all business enterprises, challenges have emerged that have made it hard for start-up VCs to stay on track. Du notes that the financial industry is a relatively saturated space, with hundreds of crypto funds and traditional VC funds joining the “ICO investing race” every day. Competition is extremely fierce, and carving out the right business strategies isn’t always easy.

Regulation and the constant changes it presents has also made things difficult. Du says one of her main goals is to see the cryptocurrency arena thrive and she recognizes the necessity to adhere to ever-changing regulations in order to bring further legitimacy to the space.

“We must keep a close eye on every country’s regulatory environment and adjust our strategies accordingly,” Du says. “Token exchange listings, for example, are directly affected by regulatory shifts. Many exchanges are not allowed to list any new tokens during strict regulatory days, and we’ve had to find alternatives for fund liquidity.”

One strategy that has worked for Du involved turning to decentralized exchanges or DEXs. Users’ own wallets are utilized to transfer and collect funds, and transactions are published directly on the blockchain, thus eliminating several risks one might encounter through centralized platforms.

“We are also considering tokenizing our own fund, but we must be cautious to remain in compliance with the SEC,” she continued. “I think the whole world is watching the moves of the SEC. They’ve proven quite adequate when it comes to dealing with emerging technologies like cryptocurrencies. I believe once the SEC has figured out how to treat crypto, other countries will mirror its moves, but right now, governments don’t seem to understand them well enough yet.”

While hostility still seems to exist toward digital assets, Du suggests legislative systems will eventually adapt to become more accepting. She even compares cryptocurrency to Uber, which in the beginning, she states, was the object of speculation amongst those who felt it was breaking certain legal barriers.

“Uber got tons of legal challenges in the beginning, and it drove regulation once it was adopted by the masses,” she explained. “The demand of Uber from the public was so high that the local laws were forced to adapt. The same will happen for cryptocurrency.”

In the end, Du believes that blockchain and digital assets present advantages often missing from traditional finance mechanisms.

“Traditional VCs have burdens in the new game because of the old investing philosophies they carry,” she says. “Things don’t work the same way, anymore. Compared to traditional VCs, new crypto funds move fast and understand the underlying value of crypto projects.”

This article originally appeared on Bitcoin Magazine.

from Cryptocracken Tumblr https://ift.tt/2r3YXUe via IFTTT

[brettzjacksonblog]

The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million!

Havven, a decentralized stable coin payment network, has successfully achieved its hard CAP of USD30 million in its ICO, even before its ending date of March 6, 2018. The company has expressed its appreciation for such a great response shown by the participants and announced that the tokens will be distributed to sale and airdrop participants by March 16, 2018.

About Havven

Havven, a Sydney-based ICO, connects collateral holders with people seeking for low volatility, thereby creating an incentive-based unique market for stability. Collateral holders get rewards when users transact in stablecoin, as a compensation for staking the system. Havven is based on a decentralized payment network and a stablecoin. The stablecoin is the cryptocurrency developed for price stability and to be used within the Havven’s ecosystem.

With this platform, Havven intends to develop a decentralized payment network built on a stablecoin that is able to capture all the advantages of a permission-less system while eliminating volatility.

How Does the Platform Work?

Havven addresses one of the biggest challenges in the cryptocurrency industry, and that is volatility. Havven token holders can issue a secondary token denominated in USD. This locks the value of the stablecoin to the USD.

Those using the stablecoin, pay fees to those who collateralize the network, compensating them for the risks of providing collateral and stability. Through this marketplace, the collateral providers get a control over money supply, while the fees are distributed on the basis of the stabilization performance of each individual. Havven uses this ecosystem to reward suppliers of stability while charging those demanding stability. It leads to a balanced stabecloin ecosystem.

The Two Linked Tokens

Havven operates the stated mechanism via two linked tokens:

Nomin:

It is the stablecoin of the Havven platform. The supply of stablecoin floats. Its price, calculated in fiat currency, must remain same. The token is developed to work as a more sophisticated medium of exchange. Hence, apart from price stability, Havven also brings enough Nomin liquidity.

Havven:

It is the token that offers collateral for the system. It has a fixed supply. Its market capitalization demonstrates the aggregate value of the system. Token holders get the right to issue a value of Nomins proportional to the USD value of Havven held into escrow. If the token holder wants to issue their escrowed Havven, he or she must first present the system with the Nomins previously issued. Havven tokens have been sold in Havven’s recently closed ICO.

The Core Features of the Platform

Havven aims to develop a stablecoin to be used as a reliable holder of value for global money transfers and payments. The core features and benefits include:

Trading on decentralized exchanges

Unit of account for the prediction markets

Funding token sales

Foreign remittances

Online retailing

Secure store of value

The ICO Token Sale

The Havven token sale started on February 28, 2018, and was supposed to end by March 6, 2018. However, the ICO has closed recently as the company successfully raised USD 30 million, the hard CAP set for ICO.  Total 100 million Havvens were created, out of which 60 million went to token sale, 20 million to team and advisors, 12 million to the Foundation, 5 million to partnerships and 3 million to marketing and bounties.

To know more about the platform and participate in secondary token trading, please visit https://havven.io/ or access the Official White Paper.

You can communicate with the team on Telegram and Twitter or read the Blog for the latest happenings.

The post The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million! appeared first on NewsBTC.

from CryptoCracken SMFeed http://ift.tt/2FqPXkx via IFTTT

[michaelbennettcrypto]

The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million!

Havven, a decentralized stable coin payment network, has successfully achieved its hard CAP of USD30 million in its ICO, even before its ending date of March 6, 2018. The company has expressed its appreciation for such a great response shown by the participants and announced that the tokens will be distributed to sale and airdrop participants by March 16, 2018.

About Havven

Havven, a Sydney-based ICO, connects collateral holders with people seeking for low volatility, thereby creating an incentive-based unique market for stability. Collateral holders get rewards when users transact in stablecoin, as a compensation for staking the system. Havven is based on a decentralized payment network and a stablecoin. The stablecoin is the cryptocurrency developed for price stability and to be used within the Havven’s ecosystem.

With this platform, Havven intends to develop a decentralized payment network built on a stablecoin that is able to capture all the advantages of a permission-less system while eliminating volatility.

How Does the Platform Work?

Havven addresses one of the biggest challenges in the cryptocurrency industry, and that is volatility. Havven token holders can issue a secondary token denominated in USD. This locks the value of the stablecoin to the USD.

Those using the stablecoin, pay fees to those who collateralize the network, compensating them for the risks of providing collateral and stability. Through this marketplace, the collateral providers get a control over money supply, while the fees are distributed on the basis of the stabilization performance of each individual. Havven uses this ecosystem to reward suppliers of stability while charging those demanding stability. It leads to a balanced stabecloin ecosystem.

The Two Linked Tokens

Havven operates the stated mechanism via two linked tokens:

Nomin:

It is the stablecoin of the Havven platform. The supply of stablecoin floats. Its price, calculated in fiat currency, must remain same. The token is developed to work as a more sophisticated medium of exchange. Hence, apart from price stability, Havven also brings enough Nomin liquidity.

Havven:

It is the token that offers collateral for the system. It has a fixed supply. Its market capitalization demonstrates the aggregate value of the system. Token holders get the right to issue a value of Nomins proportional to the USD value of Havven held into escrow. If the token holder wants to issue their escrowed Havven, he or she must first present the system with the Nomins previously issued. Havven tokens have been sold in Havven’s recently closed ICO.

The Core Features of the Platform

Havven aims to develop a stablecoin to be used as a reliable holder of value for global money transfers and payments. The core features and benefits include:

Trading on decentralized exchanges

Unit of account for the prediction markets

Funding token sales

Foreign remittances

Online retailing

Secure store of value

The ICO Token Sale

The Havven token sale started on February 28, 2018, and was supposed to end by March 6, 2018. However, the ICO has closed recently as the company successfully raised USD 30 million, the hard CAP set for ICO.  Total 100 million Havvens were created, out of which 60 million went to token sale, 20 million to team and advisors, 12 million to the Foundation, 5 million to partnerships and 3 million to marketing and bounties.

To know more about the platform and participate in secondary token trading, please visit https://havven.io/ or access the Official White Paper.

You can communicate with the team on Telegram and Twitter or read the Blog for the latest happenings.

The post The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million! appeared first on NewsBTC.

from Cryptocracken WP http://ift.tt/2FqPXkx via IFTTT

[mccartneynathxzw83]

Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

Original Source https://ift.tt/2TdnW6P

[adrianjenkins952wblr]

Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

Original Source https://ift.tt/2TdnW6P

[vanessawestwcrtr5]

Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

Original Source https://ift.tt/2TdnW6P

[teiraymondmccoy78]

Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

Original Source https://ift.tt/2TdnW6P

[courtneyvbrooks87]

Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

Original Source https://ift.tt/2TdnW6P

[jacobhinkley]

Circle To Launch stablecoin USDCoin (USDC), Partners With Bitmain

Stable coins are becoming more popular in the crypto space, promising both a reliable means of transacting and a storehouse for value during market volatility.

A new crypto token tagged ‘USDCoin’ will soon make its debut in the crypto market after Circle, a global crypto finance company, revealed that the plans of a launch are now in the latter stages.

The new cryptocurrency will operate on the principle of low volatility, a feature lacking in many digital tokens, and will be pegged to the USD to allow customers a way to easily store fiat in virtual currency rates of 1:1.

The blog post announcing the release revealed that a ‘price-stable medium of exchange and store of value is missing’ in the crypto space and would be needed to hasten the adoption of digital coins for payments and smart contracts.

On the basic feature of the new coin, the post by Circle disclosed;

‘’This solution (USDC) will enable customers to purchase and use USDC fiat tokens for payments and trading in the crypto ecosystem.’’

At launch, the USDCoin will run on the Ethereum Blockchain and be distributed through Circle’s newly acquired crypto exchange Poloniex.

Major Chinese crypto mining company, Bitmain is investing $110 million in the new project with top Circle investors, IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group, Pantera, Blockchain Capital, and Tusk Ventures all involved.

USDC will not be the first crypto token pegged to the USD but claims it aims to improve on the deficiencies suffered by other stable coins such as Tether (USDT).

There is little doubt that this will be achieved as the new USD coin is founded on an open source network supported by established banking corporations such as Goldman Sachs.

Even though an official launch date is yet to be announced, Circle USDC will no doubt prioritize a provision of detailed financial and operational transparency to users if it will stand a chance of gaining popularity among crypto investors in the United States and beyond.

In fact, Circle admits to ‘have received broad interest in USDC from major crypto exchanges and players globally.’ Because USDC is built on the ERC-20 token standard, exchanges can add support for this token without being a part of the central unit.

While Circle has big goals, it won’t be easy for the USDC to become an ultimate stable coin because of the existence of other top players in the stable coin market such as Tether (USDT), USDX, Havven, and TrueCoin (TUSD).

Also, Binance has announced that it would start trading TrueUSD (TUSD) from Tuesday, 22 May 2018. This will no doubt accelerate the growth of the stable coin.

Trading for $TUSD on #Binance will begin in 10 minutes (2018/05/22 04:00 AM UTC). Reminder: #TUSD is a fully collateralized stablecoin backed by US dollars. The value is designed to be 1 TUSD = 1 USD @TrustToken pic.twitter.com/U9IQlJsDxB

— Binance (@binance) May 22, 2018

The post Circle To Launch stablecoin USDCoin (USDC), Partners With Bitmain appeared first on CryptoPotato.

Circle To Launch stablecoin USDCoin (USDC), Partners With Bitmain published first on https://medium.com/@smartoptions

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The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million!

Havven, a decentralized stable coin payment network, has successfully achieved its hard CAP of USD30 million in its ICO, even before its ending date of March 6, 2018. The company has expressed its appreciation for such a great response shown by the participants and announced that the tokens will be distributed to sale and airdrop participants by March 16, 2018.

About Havven

Havven, a Sydney-based ICO, connects collateral holders with people seeking for low volatility, thereby creating an incentive-based unique market for stability. Collateral holders get rewards when users transact in stablecoin, as a compensation for staking the system. Havven is based on a decentralized payment network and a stablecoin. The stablecoin is the cryptocurrency developed for price stability and to be used within the Havven’s ecosystem.

With this platform, Havven intends to develop a decentralized payment network built on a stablecoin that is able to capture all the advantages of a permission-less system while eliminating volatility.

How Does the Platform Work?

Havven addresses one of the biggest challenges in the cryptocurrency industry, and that is volatility. Havven token holders can issue a secondary token denominated in USD. This locks the value of the stablecoin to the USD.

Those using the stablecoin, pay fees to those who collateralize the network, compensating them for the risks of providing collateral and stability. Through this marketplace, the collateral providers get a control over money supply, while the fees are distributed on the basis of the stabilization performance of each individual. Havven uses this ecosystem to reward suppliers of stability while charging those demanding stability. It leads to a balanced stabecloin ecosystem.

The Two Linked Tokens

Havven operates the stated mechanism via two linked tokens:

Nomin:

It is the stablecoin of the Havven platform. The supply of stablecoin floats. Its price, calculated in fiat currency, must remain same. The token is developed to work as a more sophisticated medium of exchange. Hence, apart from price stability, Havven also brings enough Nomin liquidity.

Havven:

It is the token that offers collateral for the system. It has a fixed supply. Its market capitalization demonstrates the aggregate value of the system. Token holders get the right to issue a value of Nomins proportional to the USD value of Havven held into escrow. If the token holder wants to issue their escrowed Havven, he or she must first present the system with the Nomins previously issued. Havven tokens have been sold in Havven’s recently closed ICO.

The Core Features of the Platform

Havven aims to develop a stablecoin to be used as a reliable holder of value for global money transfers and payments. The core features and benefits include:

Trading on decentralized exchanges

Unit of account for the prediction markets

Funding token sales

Foreign remittances

Online retailing

Secure store of value

The ICO Token Sale

The Havven token sale started on February 28, 2018, and was supposed to end by March 6, 2018. However, the ICO has closed recently as the company successfully raised USD 30 million, the hard CAP set for ICO.  Total 100 million Havvens were created, out of which 60 million went to token sale, 20 million to team and advisors, 12 million to the Foundation, 5 million to partnerships and 3 million to marketing and bounties.

To know more about the platform and participate in secondary token trading, please visit https://havven.io/ or access the Official White Paper.

You can communicate with the team on Telegram and Twitter or read the Blog for the latest happenings.

The post The ICO of Havven, A Decentralized Stablecoin Payment Network Successfully Closed, Raises USD 30 Million! appeared first on NewsBTC.

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Synthetic Bitcoin Product Launches On Ethereum

Synthetic Bitcoin Product Launches On Ethereum

The launch of a new synthetic Bitcoin (BTC) product may allow traders to benefit from crypto bull trends without having to own the underlying asset.

Synthetix (SNX), formerly known as the stablecoin provider Havven (HAV), announced Monday it had launched a new synthetic asset on its trading platform that tracks the value of Bitcoin. It gives holders exposure to the BTC price and that of the wider crypto market, without having to purchase the actual asset or use a custodial solution.

Known as sBTC, it is an ERC20 token that can interact with other tokens and dApps in the Ethereum (ETH) ecosystem. It’s Synthetix’s first crypto synthetic asset, joining other ‘Synths’ made for fiat currencies, like the US dollar, euro and Korean won, as well as one for gold, all released last December.

Synthetics are a type of derivative product. In the traditional markets, they are created by using various financial instruments which simulate the same price movements as a particular asset, without having to actually own it. Synthetic ETFs, for example, are created through various swap agreements between a trader and a counterparty, usually an investment bank.

They can  be tailored in such a way as to meet the individual needs and requirements of the investor. The advantage of synthetics is they give traders exposure to markets they would otherwise not have access to. Particularly if, like gold or Bitcoin, its a relatively scarce asset that would be difficult to own.

What makes synthetic Bitcoin so special?

The Synthetix sBTC product works slightly differently to the traditional synthetic. The biggest difference is there’s no counterparty. Users mint sBTC by depositing SNX tokens on the platform as a form of collateral; the amount determined by the dollar value at the time of minting. These can be redeemed at any time by returning sBTC tokens, which are subsequently burnt.

“Ethereum still doesn’t have a programmable synthetic Bitcoin as an ERC20 token without major liquidity restrictions or custodial risk, so sBTC is providing real utility,” said Synthetix founder, Kain Warwick, in a press statement. “It’s an example of the benefits of the flexibility of a distributed collateral pool of cryptoassets, which will allow us to continue to offer new trading possibilities not offered anywhere else.”

The collateralization used to underpin value in Synthetix’s synthetics (say that fast three times) is similar to the technique the project used for the USD-backed stablecoin, Nomin. 

Synthetix essentially facilitates a stable value without having to hold onto the asset itself, like projects such as Tether (USDT) and USD Coin (USDC) do. The project, which rebranded in December, has highlighted that the method could be used to create synthetic stocks and indices that can also become tradeable on its platform. 

Being an ERC20 token, synthetic Bitcoin allows holders to effectively trade BTC value on the Ethereum ecosystem, similar to projects like Wanchain (WAN) and Wrapped Bitcoin (WBTC). That said, synths require a higher gas fee than many other ERC20s.

The use-cases for synthetic virtual assets overlap considerably those of other projects. A stable store of value, and in the case of sBTC, also facilitates cross-chain transactions. The market is already saturated. Synthetix’s unique selling point is the absence of a custodial solution. It’ll need to convince investors that has value in itself.

The author is invested in digital assets, including BTC and ETH which are mentioned in this article.

Crypto Briefing’s CEO is an advisor to Wanchain, and was not involved in creating this article.

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