Blogs

Massive Developments Are Taking Place Around Major Cryptocurrencies

Published

6 years ago

December 19, 2017

2017 has been an incredible year for cryptocurrencies and people who have invested in them as prices have been soaring by huge margins. Researchers claim that the market cap of all the cryptocurrencies combined was around $17.7 billion at the beginning of 2017 but their value was at around $494 billion by December 12. This means that the aggregate growth rate for all the cryptocurrencies was 2,700 percent.

The aggregate growth rate of 2,700 percent is quite impressive because it is a totally new market and such growth has not been recorded in any other industry. It is also quite mindboggling because all that happened within one year. In fact, the rate of returns is more than what most investors experience throughout their lives.

The rise in the value of the total cryptocurrency cap is mostly pegged on the growth of Bitcoin which is currently at around 69 percent of the total cryptocurrency cap. First, the launch of Bitcoin a few years ago saw the introduction of blockchain which is the underlying technology behind all the cryptocurrencies. This technology is shaping up to be a vital technology for the future of many industries including banking.

One of the reasons for the popularity of blockchain technology is that it has trust built into the system since it acts as a ledger that holds all the transaction. It eliminates double spending, thus making it suitable for transferring digital value and the fact that it is decentralized means it cannot be controlled by any single entity and it cannot be hacked. These factors have led to the creation of other cryptocurrencies collectively known as altcoins and most of them aim to tackle an existing limitation. This is why a digital currency such as Bitcoin is considered a good store of value while Litecoin is considered ideal for transactions.

Cryptocurrency is currently considered the next step as far as globalization is concerned. While social media has turned the world into a global village as far as socialization is concerned, digital currency makes it possible to make payments and transfer currency over the internet almost instantly. This is a huge advantage especially for e-commerce and easy money transfers across great distances. It is also significantly cheaper to transact through cryptocurrencies because the blockchain technology eliminates middlemen whose services are usually pricier.

Cryptocurrencies have thus been becoming more popular as people learn about them and influenced many people to buy. As a result, their value has been going up and this explains the sharp surges that have taken place this year. A lot of people have continued to purchase them because everyone is interested in making some profit and thus the inflated prices.

It is important to note that this growth has led to an interest in the use of blockchain in other areas. Ethereum’s blockchain, for example, has smart contract protocols that can be used to enforce, verify, or facilitate contract negotiation. Roughly 200 global organizations are already testing the technology to take advantage of all that it has to offer.

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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 Ron Mader via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

3 years ago

January 25, 2021

chainwire

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

3 years ago

December 31, 2020

Paul Wilson

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…

Altcoins

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

Published

3 years ago

December 24, 2020

chainwire

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…