Connect with us

Bitcoin

This Is Why Decentraland (MANA) Is Taking Off Right Now

Published

on

Decentraland image
READ LATER - DOWNLOAD THIS POST AS PDF

If you’re looking for out of the box blockchain application ideas, you can’t get better than Decentraland (MANA). This virtual real estate startup made waves when it hit markets with what can only be described as the most successful, failed ICO ever and has since developed an incredibly strong following among a whole spectrum of sector enthusiasts – gamers, cryptocurrency users and investors, real estate developers, and more.

 

MANA Daily Chart

MANA Daily Chart

Over the last 24 hours, this enthusiasm has ramped up and the company’s underlying token – the MANA – has gained close to 200% versus the US dollar. MANA tokens now go for just over $0.10 a piece and command a market capitalization of more than $230 million. Volume during the last 24 hours alone came in at more than $160 million, or 10,000 BTC.

So what’s driving the run and is there more of the same to come?

Let’s take a look.

For anyone that’s not yet familiar with Decentraland or MANA, the company is – as mentioned – a virtual real estate company that’s created a virtual world built on blockchain technology.

It’s then sold various chunks of land in the virtual world (as measured by pixel size) to investors. MANA is the currency that’s going to be used in the virtual world and participants in the ICO (who received MANA in return for their investment) can either use the MANA they own to buy virtual plots of land or can hold onto the MANA in anticipation of its value increasing in line with company growth.

So why is there demand for some real estate that a company has just created out of thin air?

Well, the idea is that this ecosystem can grow to become something like Minecraft, the hugely popular virtual world type game that Microsoft bought back in 2014 for $2.5 billion. There are numerous examples of areas of Minecraft that would benefit from a decentralized base and –

By amassing land holdings in this platform now, the idea is that they will become more valuable over time (in the same way that they might in the real world) based on the concept of limited supply.

That’s the idea, at least.

So what’s driving the action now?

The company is about to hold an event that it called Terraform, which is basically a huge auction for large pockets of land in the Decentraland world. In order to take part in Terraform (and by that we mean in order to bid on the land that’s being sold as part of the event) a bidder has to bid with MANA.

The reason we are seeing such a dramatic rise in price right now, then, is that we are seeing so many people buy MANA in anticipation of being able to use it to purchase land at the event.

So what happens next?

Now it’s all about what happens at Terraform. If the event proves popular (and the huge uptick in MANA purchases that we are seeing right now suggest that it’s going to be) then it’s going to really get this token (and the company behind it) on the map – for want of a better phrase.

This, in turn, is going to attract more speculative traders and investors towards the company and its token which, by proxy, will serve to compound the upside action that we are seeing right now and push the price of MANA further heading into the close of 2017.

Bottom line here is that this is an incredibly interesting concept and one for which we are now seeing there exists large market interest. This makes MANA a token to watch going forward.

We will be updating our subscribers as soon as we know more. For the latest on MANA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of decentraland.org

Bitcoin

Is Bex500 an alternative to BitMEX?

Published

on

Bex500
READ LATER - DOWNLOAD THIS POST AS PDF

An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

Continue Reading

Bitcoin

How Bitcoin Has Changed Online Gaming

Published

on

online gaming
READ LATER - DOWNLOAD THIS POST AS PDF

We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

Continue Reading

Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

Published

on

blockchain
READ LATER - DOWNLOAD THIS POST AS PDF

Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

Continue Reading

Elite