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VeChain (VET) Climbing Back Up The Charts

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The Cryptocurrency market, on the whole, is still recovering from the after-effects of the slump experienced at the beginning of the year, and most cryptocurrencies have taken quite a beating. Bitcoin, Ethereum, and Ripple have experienced declines of 44%, 40%, and 74% percent respectively this year as compared to their position last year. Market sentiment was mostly negative earlier this year, with the news of regulatory crackdown and data breaches, fuelling negative investor sentiment. However, very few cryptocurrencies have withstood these turbulent market conditions, with one of them being VeChain (VET).

 VeChain’s Current Market Position:

VeChain (VET) is a part of the larger VeChain blockchain project, having been introduced in early 2007 as a Facebook App. The currency soon grew exponentially, with VeChain tokens becoming the first digital currency to trade in regulated forex markets, namely the LMAX Exchange. At the time of writing, VeChain is ranked 16th according to coinmarketcap, with a market cap of $1,876,848,230 USD and is presently valued at $3.57 USD. Analysts are certain that VEChain avoided a massive slump because of its unique but effective price structure, where holders are entitled to voting rights and are rewarded for holding coins for a longer time.  As a result, it has attracted investments from industry big names, such as Jim Breyer and Tim Draper along the way.

Reasons behind VeChain’s Upsurge:

In a period where the Cryptocurrency heavyweights were all facing losses, with Bitcoin and Ethereum dropping considerably, VEChain has in fact increased in value, by almost 25% (approx.) since the beginning of the year. Much of VeChain’s success can be attributed to the solid development team it possesses, the generally respectable reputation it enjoys within the industry as well as regular tie-ups with big industry names. Since it’s launch, VeChain has made many in rows into corporate partnerships, with BMW, Michigan State University, Oxford University Math, PwC Asia, and Chinese consulting firm NRCC to name a few.

Below are a few factors explained in brief, which are directly behind VeChain’s success!

  1. VeChain’s Tie-Ups: As mentioned before, VeChain has completed many successful partnerships with big names in the past, and 2018 isn’t any different.  The recent developments include the integration with AssetLink to create a decentralized application called AssetLink manager. The AssetLink manager platform employs a mix of IOT technology and sophisticated AI and cloud computing.  Besides this, VeChain also announced a partnership with cloud computing and chain supply company Smart Corelink. The fruition of these partnerships can only bring good news to VeChain, who are hoping to extend their reach and encourage mass adoption of its technology.
  2. Authority Masternodes: The VeChain Dev team announced their intentions to make some crucial improvements to the VeChain system. In particular, the VeChain team is looking to select users for awarding rights to the usage of Authority.  The full node in question is called “VeChain Thor” which is backed by Authority Masternodes. Its sole purpose is to produce blocks as well as performing a superior authentication process for the aforementioned blocks. Users just require their own server and 250,000 of VET (VeChain Thor Tokens) to be eligible for this program.
  3. Future Plans: The VeChain team has more projects lined up for the second quarter of 2018, including the possibility of a full-steam node. This can be evidenced by VeChain’s recent project with Content platform iTaotaoke which aims to use blockchain technology to develop a proper of authenticating content.

Final Thoughts:

VeChain’s value has been increasing slowly and steadily, jumping from $2.56 on April 10th to $3.31 on April 18th. In spite of this, VeChain’s price continues to struggle to match up to its all-time high of $9.43. That being said, VeChain is certainly in a favorable position than the likes of Bitcoin, Ethereum, and other highly ranked crypto-projects. With investor sentiment mostly positive, the future prospects of VeChain look indeed bright with a strong community and strategic partnerships being the key.

We will be updating our subscribers as soon as we know more. For the latest on VEN, sign up for our Telegram!

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 Boss Tweed via Flickr

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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