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Prepare for Launch: Zilliqa’s New Testnet is Imminent

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Third generation Zilliqa is almost ready to release the next version of its testnet. Testnet v2 will support their new smart contract language bringing a next-level security to decentralized applications (Dapps) running on the network.

Zilliqa Builds in Safety Measures

Scilla, the new smart contract language designed for Zilliqa, will make applications running on Zilliqa less vulnerable to attacks. By getting rid of certain known vulnerabilities directly at the language-level it will make sure that Dapps will be much safer to build and run.

Cryptocurrencies are at risk of security flaws. Recently EOS announced its bug bounty program, offering up to $10,000 for the most severe bugs found. Since May 31, 39 bugs have been found and resolved. The most recent one was June 27 and received the maximum bounty because it was so serious. By building safety into smart contracts, Zilliqa will be able to secure its reputation as a safe, scalable cryptocurrency.

In a blog post, Zilliqa said: “As a result, it is extremely important to ensure that a smart contract deployed on a blockchain is bug-free and safe. Safety of smart contracts is particularly critical because they are run in a Byzantine environment, where, every party involved with a contract can potentially be malicious.”

Developer Grant Program Announced

Zilliqa announced a developer grant program called the Zilliqa Ecosystem Grant on June 19. The main objective will be to support teams developing tools, libraries, and Dapps for the Zilliqa platform. The total funding for it will be $5 million of which at least 30% will be given out as ZIL. The projects will need to be long-term projects as the funding will be spread across a period of time. The Zilliqa team will also provide support and advice to the projects.

In a blog post, Zilliqa said: “To encourage the development and adoption of applications that are built on our platform we are pleased to announce the details of the Zilliqa Ecosystem Grant Programme — a pool of $5 million USD that will be given to great projects, teams, and individuals to start building tools and applications for the Zilliqa platform.”

New Dapps to #BuildonZIL

Spuul, an over-the-top provider of video streaming content have announced that Spokkz will be running on the Zilliqa network. Spokkz is a film and TV ecosystem. The provider has a user base of over 57 million users and provides content in 180 countries. This means it will have plenty of reach.

A new open entertainment network has also stated its intentions of building on Zilliqa. Bolt aims to use blockchain technology to change how we access content, data, and educational resources. They claim to be the world’s first open entertainment economy and are listed on the Switcheo exchange.

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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 Austin via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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