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Internet Money

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6 years ago

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One of the most basic uses for cryptocurrencies and one of the most natural is the invention of  internet money.

The first instances of mass adoption for cryptocurrencies will likely be to compliment services that otherwise would not be able to maintain a self-sustained monetary ecosystem on their own.

For example, the social network Steemit.com works a lot like Facebook or Reddit, but instead of collecting likes or comments, great posts are rewarded with actual money. The native crypto known as STEEM, can be exchanged and traded like any other financial asset.

Another use for cryptos on social media that is gaining in popularity doesn't require users to actually migrate to a new platform. These new services work directly with your existing social network accounts and allow you to send a tip to any social influencer simply by making a comment on their original post.

Many thanks to this user and several others who've sent me XRP over the last few weeks.

Though it may not be a huge milestone, I feel like we may be seeing many more headlines like this one in the coming weeks...

Please note: All data, figures & graphs are valid as of September 5th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

As the use of new internet money is growing, we can see a perfect example in the news today of an original internet pioneer that is making loads of money.

The value of all Amazon shares briefly surpassed $1,000,000,000,000 yesterday. 

If efficiencies can be found, they very likely will be. With criticism about Amazon's poor working conditions, I'm wondering how long it will take for a newer business model to come along.

Dollar Strength Continues

The US Dollar has continued its dominance over the currency markets so far this month making mild gains against its stronger peers and larger gains against it's weaker peers.

Commodities continue to bow to King Dollar. Gold, Oil, and Copper are all taking huge hits with the yellow metal finding itself again below $1,200.

Ethereum Drama

There's been a bit of confusion over the last few days about the sustainability of Ether, most of which started with this article in TechCrunch...

Further shock was added when the father of Ethereum responded to the article in this post on Reddit.

The long and short of it is that Jeremy was suggesting that the Ethereum network can exist without using the native Ether currency to pay the miners. Rather, the miners would be able to take their payment directly in any other currency that is built on the Ethereum network.

Vitalik argues that whilst this may add an intense complexity and risk to miners, they're currently moving to change the network so that this won't be an issue.

The FUD was mainly caused with articles like this one, that largely misconstrued the situation.

Vitalik agreed that it was possible for miners to take payment in other currencies on Ethereum, but he did not agree that the collapse of Ether is inevitable.

What we're talking about here is the purest form of programmable money. ETH tokens are the most widely used crypto-asset at the moment and even if it is theoretically possible to use some of the features of the Ethereum network without them, that doesn't mean that Ether will disappear or collapse. 

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

3 years ago

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January 25, 2021

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

3 years ago

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December 24, 2020

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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My Crypto Heroes Announces Issuance of MCH Governance Token

Published

3 years ago

on

November 24, 2020

By

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first…

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