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Dash Coin News: Dash’s New Service to Help the Victims of Hyperinflation

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Dash coin news

According to recent Dash coin news, this well-known altcoin is preparing to launch a new cryptocurrency payment service in Venezuela. The new service will be based on SMS messages, and it will allow Venezuelan users to carry out transactions even without a smartphone.

Dash coin news announces a text-based crypto service in Venezuela

Considering how much Venezuela grew to rely on cryptocurrencies, this will be a large game-changer for some of their citizens. Not having a smartphone, or not being able to use one, has been a large issue for the people of Venezuela. Experts believe that this may have been one of the largest barriers that prevented the country from properly adopting cryptocurrencies.

Venezuela is a country that has been suffering from hyperinflation for some time now. Their native currency, the bolivar, became almost completely worthless. As a result, Venezuela had to implement a new monetary solution in form of digital currencies.

Now, Dash is trying to speed up the process of crypto adoption by providing an alternative method of trading for those who do not own smartphones or lack internet access. To do this, Dash has entered a partnership with a company called BlockCypher. This is a firm that specializes in providing blockchain-based solutions and products that allow users to operate with several different currencies via one single platform.

The result of the partnership is earlier mentioned Dash Text project, which is currently in the beta phase of testing. In collaboration with Venezuela’s largest telecom providers — Digitel and Movistar — Dash will allow users of these services to access its platform via five-digit code.

Dash Text to reduce the effects of hyperinflation

Dash Core’s global head of Business Development, Bradley Zastrow, commented on the move by saying that Dash Text will provide solutions for all those who struggle to survive in Venezuela due to hyperinflation. So far, Venezuelan citizens who left the country have sent over $2 billion in remittances. While this seems like a lot at the first glance, it did not help much since the method of sending this money is complex and costly. With Dash Text, Venezuelan families will be able to get to this money in an easy and cheap way, while Dash’s own ecosystem will grow without the need for a smartphone.

Registering on Dash Text will also be very easy to do, according to Dash coin news. Users can easily complete the process by sending a text with the word “DASH” to 22625, and then send the word “CREAR” to create a Dash wallet. After that, sending and receiving Dash via SMS will be simple.

Dash has had a strong presence in Venezuela ever since August of this year, when the coin was successfully adopted, which sparked a price surge. Since then, Dash has partnered up with multiple retailers across the country, and it even made a deal with a mobile phone maker, Kripto Mobile.

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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.

Image courtesy of Rufino via Flickr

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

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

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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 been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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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 governance…

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