The crypto-markets have been relatively stable the entire week with many traders happy that Bitcoin (BTC) has maintained levels of between $7,500 and $7,600. The King of Crypto is currently valued at $7,670 and up 0.39% in 24 hours. Ethereum (ETH) is also enjoying a steady level of above $600 and is currently trading at $607.
Further down on the list of cryptocurrencies, is a gem of a token known as IOSToken (IOST). The token is currently ranked 51 in terms of market capitalization for its market cap is at $340.3 Million. The IOST token is not minable with a total supply of 21 Billion with a circulating supply of 8.4 Billion.
But enough with numbers and values, let us get to the nitty gritty as to why IOST will not disappoint as we move into the second half of 2018.
To begin with, IOST is a project that aims at building a secure and scalable blockchain for smart services. It wants to be the choice platform for decentralized apps by attracting developers to its platform. The project aims at ‘turbocharging’ sharding by making the shards sufficiently large and strongly bias-resistant via a combination of a client-server randomness scavenging mechanism and leader election via cryptographic sortition.
This means that IOST will be battling it out with Zilliqa when it comes to designing the better platform that uses sharding. IOST looks like it has the upper hand for it is enhancing sharding to another level.
The continue to the second reason why IOST will not disappoint, the token and the project has its roots in China. It has since expanded to San Francisco and Singapore. One thing to remember is that the President of China, Xi Jinping, was recently quoted as saying that blockchain technology is the future. This might be interpreted that the country is now ready to embrace blockchain and cryptocurrencies in a manner which the state will control. This means that the projects of ISOT and TRON might benefit from this new stance for they are from China. President Jinping had this to say about blockchain technology:
“A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications.”
Thirdly, is the performance of the token in the crypto-markets. Current market analysis indicates that IOSToken (IOST) is currently trading at $0.04 and up 2.86% in the last 24 hours. The token had recently peaked earlier on in the month of May to reach levels of $0.076. This is evidence that the token is headed to greater heights once the team announces the release date of the MainNet this year.
In summary, the IOSToken and project are one to surely look out for as we glide into the second half of 2018. All fingers are crossed that the general crypto market will recover in June, and with it, our favorite tokens such as IOST will also reach greater heights.
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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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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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