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Encrypgen (DNA) Nearing Another Major Milestone

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Despite a short-lived Bitcoin surge above 4,000, the past few weeks and months have been a relatively quiet period in cryptocurrency.  Given the lack of trading opportunities, traders should devote more of their time to researching strong companies that are on the verge of transforming industries.  One such company is Encrypgen (DNA).

Encrypgen Value Proposition

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data.  This extra security provided by Encrypgen is extremely necessary given all the recent privacy issues that 23andMe and Ancestry have had.  So rather than hand over control of your DNA to a testing company like 23andMe, consumers can safely upload and secure their raw data file with Encrypgen’s Gene-Chain.

The Gene-Chain went live late last year and has been a raging success thus far.  With each passing day, additional data sets are being uploaded to the Gene-Chain.  Once uploaded, researchers can purchase the data directly from consumers (with the consent of the consumer of course)!

Gene-Chain Emerges

Although many crypto companies have disappointed token holders during the past year, Encrypgen has done just the opposite.  The company has done what no other company in its industry has and that is launch the world’s first genomic data marketplace.  Since that announcement late last year, Encrypgen has continued to announce exciting news and major partnerships that will lead to increased usage of the Gene-Chain.

Impressive Partnerships

The first of those partnerships was announced in late 2018 with Murrieta Genomics.  The second partnership was announced in early 2019 with viazoi.  The partnership with viazoi is especially exciting as it will do a lot toward increasing the amount of data sets on the Gene-Chain.  As the number of data sets increase, so too should the token price as researchers will be eagerly waiting to buy more data.

Given all the success that Encrypgen is having while so many other crypto companies are struggling in the current environment should give DNA token holders a lot of confidence.  And that confidence will be bolstered even further as the company is nearing another major milestone.

Encrypgen Nearly Finished With ERC20 Integration

The initial premise of the Gene-Chain was that researchers would be able to buy DNA tokens directly on the platform in order to purchase genomic data.  In order for that to happen, Encrypgen had to complete ERC20 integration.  For those that don’t know, ERC20 essentially defines a common list of rules for all Ethereum tokens to follow.  This ensures that Ethereum tokens of different types will work the same in any place within the Ethereum system.

The plan is for researchers to have two options in order to buy DNA tokens.  The first, and primary option, is for researchers to purchase DNA tokens directly on the Gene-Chain for a small markup in token price.  The markup would essentially allow Encrypgen to generate extra revenue in order to fund operations.  The company would then go to the exchanges in order to “re-fill” its supply of DNA tokens.  The second option is for researchers to purchase DNA tokens directly on the exchanges.  The most viable option for that to occur was on Cryptopia but because of the recent exchange hack, that has had a bit of a delay.  But, the good news, is that it looks like Cryptopia is getting closer to re-opening.

Conclusion

Although many companies have disappointed the market during the past year, it’s nice to see Encrypgen continue to make solid progress on its roadmap, just as it promised token holders.  DNA is one utility token to keep an eye on as the future looks extremely bright!

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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 Tim Green via Flickr

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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