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VeChain (VET) is as busy as a Bee in Q2 of 2018

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VeChain was also a victim of the long market dip in the first quarter of 2018 like most of the cryptocurrencies. But, now the time has come for making a rebound and VeChain is all set to bounce back, as a much stronger cryptocurrency. As of 16th April 2018, at the time of writing the price of VeChain shows $3.42 USD (1.64%) and the volume (24h) is $80,302,700 USD approximately. The market cap presently shows over $1.7 billion USD. There are speculations that Ethereum may soon lose its dominance in the cryptocurrency market due to the promising future of crypto coins like VeChain, OmiseGO, and EOS. The network of VeChain (VET) is faster and cheaper than that of Ethereum.

VeChain and Mainnet Relationship

The cryptocurrency enthusiasts can countdown the launch of VeChain’s own Mainnet along with the official page of VeChain’s projects. The launch of the Mainnet by VeChain team is a likely reason for the investors to hold on to the crypto coin even when the times were difficult. It is almost a silent agreement that the coins and tokens that operate on their own platforms are worth holding on to. Therefore, one may expect the price of VET to go up, up and away after the launch of its own Mainnet.

Selection of VEN Masternodes

Authority Mastercode plays an integral part in the execution of VechainThor full node that has the sole authorization to produce blocks and authenticate them. 101 Authority Masternodes will be launched on the VeChainThor platform. A server and a level of 250,000 VET collaterals have been set as the minimum level of performance for a user to become an Authority Masternode owner. Authority Masternodes are rewarded by the network to the users who maintain VeChainThor blockchain and take part in Platform Governance. The rewards (Authority Masternodes) given out to the users are dependent on five categories, namely

  1. Enterprise users
  2. Blockchain developers
  3. Business development teams
  4. Contributors from the community, and
  5. Research partners.

The user will also have to undergo a KYC verification process that will recognize their ownership of Authority Masternode. In order to ensure a secure environment for the performing nodes (runs on Linux), the company suggests the owners use cloud services. The set of requirements to maintain the ownership of Authority Masternodes is quite strict. For instance, if the VET collateral reaches below 250,000 and if a node fails to generate blocks less than 3 times in 24 hours will result in loss of ownership. Other conditions include the discovery of high-risk vulnerabilities on the node, the owner who does not follow the voting result or if they start a malicious attack on the blockchain nodes.

VeChain and AssetLink

VeChain collaborated with AssetLink (Joint Supply Chain Management Application of Xiamen Innov, Corelink, and VeChain) on 12th April 2018. The areas of specialization of Xiamen Innov Information Technology Co. LTD (Innov) are research, manufacture, and marketing. Also renowned for RFID products, the main reason for collaboration with Innov is to incorporate VeChainThor technology across a wide range of platforms. They have upped the game by partnering up with giants like Hyundai, Coca-Cola, Samsung, Huawei, Apple, ZTE, Dell, Lenovo, and Asus. VeChain is also now the partner of Smart Corelink that provides cloud platform software services, application software development services, and hardware supply chain services.

The collaboration among VeChain, Corelink and Xiamen Innov has led to the creation of an advanced decentralised application (or dApp) called AssetLink manager. AssetLink is set to run on a peer-to-peer network instead of a single computer. The first version of the app is ready for use. Other than blockchain technology, AssetLink incorporates artificial intelligence, IoT technologies and cloud technologies. The enterprises will be benefited from the apps as they can store and track inventories, physical assets, and outputted data.

According to VeChain,

“From now until the release of mainnet, Xiamen Innov and Smart Corelink will be working to onboard their existing customers onto this service providing robust supply chain management, smart appliance solutions, and product lifespan analytic modules that provide immense value as defined by their pilot members”

VeChain and Shanghai eGrid Consulting Co. LTD Partnership

Shanghai eGrid Consulting Co. LTD partnered up with VET Foundation as VeChain had come up with a viable automobile solution. The company has experience in the automotive industry and can boast of clients like SAIC Volkswagen Automotive Co. Shanghai eGrid Consulting Co. LTD provides domestic and international data services to companies.

The news regarding VeChain (VET) partnering up with so many international companies and conglomerates and the launch of its own Mainnet are most likely to increase the value of the crypto coin in the market. In the Q2, so far VeChain has been showing a positive ‘uptrend’ largely. The automotive industry will also keep the VET Foundation busy. Therefore investing in the crypto coin at this moment can turn out for the best in future when its price increases substantially.

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

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 darwin Bell via Flickr

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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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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