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Bitmain Chooses EOS for its Second Major Investment of the Year

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Block.one, the company responsible for one of the top cryptocurrencies, EOS, has just received a major investment by $12 billion-worth crypto firm called Bitmain.

Block.one chosen for a large investment

A new major development in the crypto world has seen Block.one, a company behind EOS, receiving a large investment from the largest crypto company, Bitmain. Bitmain’s co-founder, Jihan Wu, stated that the decision to invest in EOS came after its protocol demonstrated significant innovations that came over the course of the previous 12 months. EOS has focused on the creation of a strong, scalable and stable ecosystem, that would support the creation of dApps, as well as commercial decentralized platforms.

Wu even stated that the protocol is a great example of innovation regarding the blockchain technology, with its scalability and performance being capable of meeting the ever-growing consumer needs. According to him, this is yet another very important step towards mainstream adoption of the blockchain technology.

Block.one’s CEO, Brendan Blumer, stated that the company’s goal, for now, is to establish connections and partnerships with various strategic investors. The company wishes to connect to as many people that are sharing EOS team’s goals as possible. He stated that Block.one is almost ready to announce plans for the future, and are now searching for those willing to improve the security and connections of the world.

Bitmain’s investments and interests

Bitmain is currently the largest cryptocurrency company, with a market valuation of $12 billion. This has allowed it to easily surpass the likes of Binance, Coinbase, and even Ripple Labs. Bitmain’s advance was rapid, but the company and its officials obviously proved to be capable enough to professionally handle it.

Recently, Bitmain has become known for investing large amounts in various companies. It invested up to $50 million in one of the biggest web browsers, Opera, and it even led a $110M Series E round for a crypto wallet platform and exchange, Circle. Now, Bitmain decided to support Block.one, who has managed to raise up to $4 billion after a year-long ICO.

Both Wu, as well as the company itself, have been very open with their enthusiasm and excitement regarding dApps and decentralized protocols. Especially when they come from a popular platform that is capable of both attracting, as well as properly serving millions of customers. Now, Block.one seems to be an obvious choice for Bitmain’s plan to expand through the world of cryptos and blockchain. So far, the company has been focused on the creation of crypto mining equipment, as well as on its investment arm.

What is next for EOS?

EOS is at a very important part of its journey currently, and it claims to be capable of serving dApps with millions of users. If true, and there is no reason to believe otherwise, EOS will have to focus on expanding its developer community now. This will be the next most important step in its development, and it will require a developer community that will be capable of rivaling that of Ethereum.

Ethereum is the second largest crypto, which means that it represents a very, very big challenge for EOS. Especially considering that ETH’s developer community numbers over a quarter of a million capable developers. EOS has quite a task laid out before it, but it has already proven to be good at tackling challenges.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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