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Recent Siacoin Updates: Why 2018 Would Make a Permanent Impression on Its Future

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Siacoin
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The year of 2018 has been going Siacoin’s way so far. Although the currency was introduced more than two years ago and progressed in a relatively slower pace in comparison with some other cryptocurrencies, it has managed to live up to the expectation to its traders across the world. Before Sia had been tokenized in 2016, it was a very successful ICO (Initial Coin Offering) start-up. Sia, Storj, Maidsafe, and Filecoin, all of these currencies started their journey as ICOs back in 2014. Commendably, only Siacoin managed to launch a decentralized cloud storage platform for their users.

As the beginning of 2018 was veritably devastating for cryptocurrencies like Bitcoin, various Altcoins especially the less familiar ones started using it as a golden opportunity to make inroads in the existing market. Manifestly, Siacoin was one of them and for keeping up to this fierce competition, the Siacoin development team has been tremendously busy in making ingenious implementations for their users’ convenience. Very recently, on 30th April 2018, they have published a comprehensive description of their technical progress this year. They have also unveiled their plans for this year in their 2018 roadmap. In this article, some of these on-going and imminent developments would be discussed to depict a probable future for this currency.

Notable Technical Updates:

Siacoin was introduced to provide a decentralized cloud storage network for its holders that can be easily downloaded. With the help of this network, the users would be able to upload files across a global network of 50 countries and 6 continents under strict security. The storage network would also them to mine Siacoin and sell storage spaces as per requirement. From its first version of 1.3.1, this currency has now come a long way providing more innovative and efficient versions to its users.

The Release of Version 1.3.3 and 1.3.4:

According to their technical updates released on 30th April 2018, The Siacoin version 1.3.3 is now under progress with conspicuous developments. Once this version is completed, the users would be able to enjoy the API support for video streaming of this currency’s platform. Also, the development team of this currency has announced the imminent launching of Siacoin version 1.3.4 within a few months.

Rectifying Pre-existing Errors:

The Siacoin development team has been working hard on rectifying the errors on the blockchain platform. Siacoin users have been facing some difficulties over broad reporting and pre-contract reporting. They have rectified these problems considerably so that any spending is not overlooked. They are also working inexorably on elevating the overall accuracy of this blockchain platform.

Crash Resilience of the Contractor:

This is another parameter that the Siacoin team has been working on for quite some time. For decentralized networks, implementing cash resilience becomes extremely difficult. However, the efficient team behind this currency is making this nearly impossible task possible. With their effort, Siacoin has become resilient to unexpected crashes that can effectively lead to data corruption. Although the final testing is yet to take place, the development team is hopeful about implementing this feature on this platform.

File Backup and File Sharing:

In the current version of this currency, file backup and file sharing options are basically indistinguishable. The Siacoin team has been working on making these two options separate for the convenience of their users. In the upcoming version 1.3.4, the file backup system is likely to be upgraded considerably so that the users wouldn’t have to worry about unexpected crashes of the host machine. The Siacoin team will also implement an efficient file sharing option in the imminent versions of 1.3.5 and 1.3.6 that are likely to be launched within this year.

Improved Scalability:

The principal focus of the Siacoin team has been on ameliorating the scalability of this blockchain platform over the past few months. They are likely to implement microchain based codes by the end of this summer for improving the scalability of this platform up to 10,000 times of the pre-existing transaction speed.

Current Condition of Siacoin:

Considering the incessant vying for the top spot in cryptocurrency market, Siacoin has been doing considerably well at the moment. As of 28th may, 2018, Siacoin holds the 34th position on Coinmarketcap with a price nearly tantamount to $2.33 and a market capitalization of nearly 600 million USD. As always, this currency is following a slow but steady upward trend devoid of massive fluctuations.

Final Thoughts:

Once the aforementioned developments are completed, Siacoin would be able to offer a nonpareil decentralized cloud storage platform with impregnable encrypted security and convenience. This currency has also extended its purview by partnering with popular cryptocurrency exchanges like Bittrex and Upbit. As their recent statement, they are aiming to provide a system that would not only empower individuals but also companies like Netflix or Dropbox. Under such circumstances, it is only fair that current Siacoin holders keep their trust on this coin and being hopeful of a profitable 2018.

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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