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African digital assets exchange Quidax adopts Ripple xRapid

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Quidax has partnered up with Ripple, and it’s positioned to start using the blockchain firm’s xRapid product (the only product of the company that uses XRP) to revolutionize money transfers and settlements.

Not too long ago, Quidax, a European based virtual asset exchange, launched its services in Nigeria in an attempt to spread its wings to the African continent. Their story dates back to 2016 when their architects came together to develop a platform with the intention to leave a dent in the financial sector. Their primary purpose is to open the doors of opportunity to as many individuals as possible who are interested in making money and in wealth creation.

The second Ripple partner in Africa (first was Flutterwave who embraced the Ripple blockchain not too long ago), Quidax is being hosted by a trading platform which will allow their users to buy and sell digital assets using their secure, simple, and seamless user interface. Once it gets launched, Quidax will facilitate their users with the capability to buy and sell six virtual currencies with the promise to expand to over 20 cryptos in the next three months.

According to the CEO of Quidax Africa, Buchi Okoro, who happens to be Nigerian, the platform has the potential to break the existing financial barriers that will, in turn, allow Nigerian residents to have more opportunities to create wealth for themselves. He disclosed:

“Having thought about the problems that are bedeviling the current financial landscape in a global level, our mission as Quidax is to challenge the status quo by pushing humanity forward. As an exchange, our goal is to break down financial barriers that are barring our people from accessing wealth creation opportunities” 

By looking at the sheer number of alternatives available to their users, we can undoubtedly conclude that Quidax is the substantial exchange platform functioning in Africa. The digital tokens included in the exchange (as of now) include Bitcoin Cash, Bitcoin Gold, Ripple’s XRP, Bitcoin, and Litecoin.

One of the things that make Quidax stand out is its ability to take away the hustle of running between minimized mobile applications while transacting. It also offers a wide range of virtual assets to buy and sell. The all-inclusive benefit of Quidax has spark interest among many crypto enthusiasts in Africa contributing to the massive trade sign-ups being experienced on their platform.

Currently, the crypto exchange company is at an advanced level of its preparations to kickstart its cryptocurrency and blockchain education to increase the level of literacy in Nigeria and the African continent at large. The cryptocurrency literacy endeavor is needed on the African continent now more than ever.

Apart from offering Nigerians more information concerning cryptocurrencies and blockchain technology, Quidax will also be facilitating citizens of the West African with a platform to trade virtual currencies. To achieve this, the company is looking into partnering with key individuals who are instrumental in the Abuja Blockchain and Artificial Intelligence Roundtable event.  CEO Okoro added,

“As a cryptocurrency trade platform, Quidax is open to collaboration with other players in our quest to achieve our vision and mission of enlightening Nigerians and Africans on this emerging technology.” 

Ripple (XRP) Price Analysis After Partnership with Quidax

Ripple’s new innovative product for making payments, xRapid, is already facilitating businesses and financial institutions with capabilities of transacting with one another seamlessly without friction. And early this morning, the world woke up to the news that XRP/USD broke free from Monday’s low of 0.4452 US dollars through the bearish sentiments that are still strong.

Despite all the top cryptocurrencies being in the red currently, Ripple’s XRP price is up by 0.78% and stands at $0.445 taking the recent 24-hours of trading into account, with its current market value standing at slightly below 18 billion US dollars.

It is expected that XRP prices might surge upwards as the news of Ripple partnering with Quidax continues to gain momentum (remember they are going to use xRapid, the product that uses XRP), especially in Africa.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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 Pixabay

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Can Sharding Fix the Limitations of Blockchain or is the Network Doomed?

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Performance and scalability issues have bottlenecked the future development and real-life application of popular mainchains, such as Bitcoin and Ethereum. Many methods have been employed to solve this problem, but all of them have their own pros and cons.

The Impossible Trinity – safety, decentralization and scalability, coined by the blockchain world, bars the way to the future and the industry has fought hard to figure out an optimized solution. Sharding, proposed by Ethereum, has been viewed as one such candidate.

What is sharding?

Sharding technology splits a network into smaller partitions called shards, which contain an independent state and transaction history. The idea behind this is to divide a huge amount of workload into smaller pieces to make life easier for every participating node.

If sharding were to be adopted, each node will only need to keep a part of the network’s information, instead of downloading the whole ledger, which can lead to a large data file. Subsets of nodes grouped into one shard will only process transactions specific to that shard. By doing this, the network will be able to process many transactions in parallel, and the performance will continue to increase with more nodes joining in, thus making the network highly scalable.

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Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

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 creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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