Author: changehero
September 30, 2020

Recently, decentralized finance has been exploding with popularity. One of the protocols, Uniswap, has been topping large centralized exchanges and now accounts for more funds locked in it than the entire DeFi sector had just a few months ago. In this beginner’s guide, ChangeHero team is going to introduce you to the current DeFi leader, […]

uniswap exchange guide by changehero

Recently, decentralized finance has been exploding with popularity. One of the protocols, Uniswap, has been topping large centralized exchanges and now accounts for more funds locked in it than the entire DeFi sector had just a few months ago. In this beginner’s guide, ChangeHero team is going to introduce you to the current DeFi leader, explain how Uniswap exchange works and give advice on how to buy UNI.

What is Uniswap?

uniswap logo
Source: Binance Academy

Centralized exchanges (CEX) are still the most popular way to buy and trade cryptocurrencies. However, they come with regional restrictions, account management and sometimes even security issues. When the second generation of blockchains that supported smart contracts emerged, developers started to look into the possibility of creating exchanges that would not have the issues which centralized exchanges had.

While many blockchain developer teams humored the idea, Uniswap managed to ship a usable product on Ethereum. It is a protocol which works as an automated market maker (AMM) that matches makers and takers (buyers and sellers). Due to the decentralized nature of the Uniswap exchange, the liquidity had to be managed automatically, too. The developers achieved this by introducing rewards to anyone who would lock their tokens in the protocol. Thus, the liquidity is not provided by a centralized entity, but by the users.

How did Uniswap Start?

The Uniswap protocol was not the first to introduce AMMs to Ethereum, but it managed to make it popular with a wide audience. It is developed almost single-handedly by Hayden Adams. Before starting his work on Uniswap full-time, he was employed by Siemens as an engineer. However, he did not even know how to code until he got laid off from his engineering job and his friend Karl Floersch introduced him to Ethereum. In 2017, he started researching it and got the inspiration for his project from Vitalik Buterin’s blog. The latter would also contribute to the Uniswap exchange by informing Adams and providing insight into making things work. By 2018, after almost two years of work, the protocol in its first iteration was released to the public.

How does Uniswap Work?

Making Swaps

exchanging on Uniswap
Source: Uniswap

On the surface level, the protocol is straightforward. Trader chooses a pair, deposits token A and receives token B minus the exchange fee. In this regard, it is not too different from a CEX. In depth, the things look much more interesting.

An exchange usually keeps an orderbook to represent liquidity on a market. This is not the case here. Instead, using AMM, Uniswap first evaluates how many tokens a pool will receive and then gives an estimate of the price of a second token, with slippage (risk of price change) in mind.

Uniswap was also designed with interoperability in mind. Traders would want arbitrage opportunities, and for that multiple markets must exist. Moreover, DeFi is not only about trading but also lending and saving. For that purpose, Uniswap has flash swaps which are executed at no cost upfront but must either be repaid in the second token of a pair or repaid with a fee. So, the difference between an ordinary swap and a flash swap is that the fee is applied to a deposit in the former and to a withdrawn sum in the latter.

Providing Liquidity

providing liquidity on Uniswap
Source: Uniswap

To utilize the Uniswap exchange to the fullest, some understanding about liquidity pools is necessary. To solve the liquidity problem, the users of the protocol are encouraged to contribute their assets to a liquidity pool of a pair. In return, they get passive income in the form of exchange fees on their deposit. The initial providers also indirectly set the market prices of these tokens as they are supposed to deposit both tokens of a pair in an amount of equal value.

In addition, each liquidity pool mints pool tokens in proportion to the provider’s deposit. Should they withdraw their liquidity deposit, they are required to burn the same amount of pool tokens in return.

The best thing is that the whole process is automated, from making trades to supplying liquidity and securing the network. 

When does the UNI token come into play though? This is what the next section is going to be about. If you want to know how to buy UNI, keep reading until the end!

What is UNI?

UNI is the governance token of the Uniswap exchange. Its main function is to represent the voting power of a holder. With it, users can vote for or against various proposals. UNI is a ERC-20 token, which makes sense considering that Uniswap is built on Ethereum, so it needs ETH to function.

UNI was introduced in the v2 update in September 2020. The past users of the protocol received tokens for free in an official airdrop.

Uniswap plans to release 1 billion units into circulation over the next four years, and after that replace the distribution mechanic with a 2% annual inflation rate to let new users participate in the network governance. 600 million tokens will be distributed to community members, and 90 million UNI were airdropped to those who used Uniswap prior to this September.

UNI price chart
Source: CoinMarketCap

Uniswap has been on the market for less than two weeks, but it already has a ROI of 283%. The highest price of Uniswap token so far was observed soon after the launch, on September 18: $8.39. Now (at the moment of writing) its price is $4.20. At the moment, there are 96,866,285 UNI in circulation, and the market cap of UNI is $408,373,561 (rank 41).

How to Use UNI

At the moment, as of v2, Uniswap token is used almost exclusively in governance. However, since the holders can introduce and vote for proposals, it is possible that over time other use cases for Uniswap token can emerge. Moreover, in Uniswap v3, which we will cover in later sections, UNI holders can be reimbursed for trading fees.

Is UNI or Uniswap Controversial?

Love it or hate it, Uniswap is extremely popular for another reason: to get listed on the DEX, a token does not have to undergo the due diligence which currencies that are getting listed on CEX have to. Therefore, the activity of “gem hunting” (that is, searching for a token that can pump) is pretty popular in the Uniswap community. In the end, gem hunting comes down to seeking short-term gains. Needless to say, this is why Uniswap is abundant with scam tokens or simply unfortunate disasters when a token price skyrockets and dumps in mere hours.

Another event which might have a negative effect on the reputation of Uniswap is the recent KuCoin hack. Since Uniswap does not implement any KYC policy, it is easy for hackers to move stolen assets to Uniswap, exchange them to “clean” tokens, and thus launder the money they stole.

What are the future plans of the team?

This August, Uniswap finished its funding Round A. The developers received $11M from Andressen Horowitz, Union Square Ventures, Paradigm and other investors. The funds will be put into work on Uniswap v3.

For now, the developers are keeping the details of an upcoming update a secret, probably because of the responsibility to their investors. However, some of these new features are already getting teased by the devs. Check out the next section for info!

UNI Talk on Twitter

According to DeFi Pulse, Uniswap is the leading DeFi protocol at the moment, and the only one to have more than $2B total value locked (TVL). The outlet The Block reported this piece of news as a story on the growth of the DeFi sector.

Ethereum developer Merkle Tree hints at what’s to come in Uniswap v3: additional privacy with zk-SNARKs implementation, limit orders and more utility for Uniswap token. The latter might get picked up by all the news about the updates to Uniswap exchange, so obviously, crypto Twitter is enthusiastic for more news.

But even now, Uniswap exchange is providing great value to the whole crypto space, as @iamDCinvestor says. However, he underlines that his point of view applies to long-term investment, so he won’t give any predictions for the near future.

Trader @CryptoCred admitted that for a long time he was not too interested in using a DEX, especially the Uniswap exchange. However, if you are in crypto for the revolutionary technology and innovations in finance, there is no excuse for not at least trying out the protocol that is breaking all kinds of records in just weeks. Just the other day, there was an argument on crypto Twitter when Larry Cermak criticized the Coindesk journalists for doing exactly that.

How to buy UNI?

Of course, Uniswap token is available for trading on major exchanges (Binance, OKEx and Coinbase Pro) against other cryptocurrencies, stablecoins, fiat currencies and more.

Naturally, users can also get in from Uniswap’s protocol itself. However, trading on a DEX takes a bit of prior knowledge, and trading on CEX comes with the hassle of creating an account and depositing funds into an exchange’s custody.

How to buy UNI without these hurdles? Use ChangeHero! It’s extremely easy and you can trade it against any currency supported by the service. We are serious about AML compliance, so tainted funds will not end up on your address, and our KYC policy is selective and optional. Besides, you do not need to deposit more than you are going to exchange, so no funds will be lost, as ChangeHero is a non-custodial instant cryptocurrency exchange.

Where to Keep UNI?

As it was previously mentioned, UNI is a ERC-20 token. It is currently supported by most wallets, from the go-to ETH/ERC-20 wallets MEW (MyEtherWallet) and MetaMask to hardware Trezor wallet.

  • Trezor is a great option for active Uniswap exchange users. With Trezor Beta client you can also swap and buy UNI with ChangeHero’s instant exchange option.
  • Another option for a robust portfolio would be Exodus wallet. It has a huge list of supported assets, including UNI, as well as a similar built-in exchange option powered by ChangeHero. With it, Exodus users can buy UNI right in their wallet.

How to exchange UNI with ChangeHero

How to buy UNI using ChangeHero? In five simple steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your UNI wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. For  Fixed Rate transactions you have 15 minutes before it expires;
  4. From here on, you won’t need to do anything. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your UNI is on the way to your wallet. Congratulations, it’s done! You may even leave a review for us😊

Our support Heroes are always there for you in the chat on our website or through the email: [email protected].

Conclusion

The last few months have been a very exciting time to be in crypto. Uniswap exchange is breaking new grounds, and its value is sure to grow from now on. Will it manage to keep its decentralized and unstoppable nature in the face of the challenges presented by bad actors and regulators? We will have to see. For now, to stay in the loop of the latest crypto news and projects, subscribe to our blog and follow us on Twitter, Facebook, Reddit and Telegram.


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Author: changehero
September 26, 2020

Zcash (ZEC) is one of the most prominent privacy coins in the current crypto scene. The upcoming ZEC halving in November piques the interest of many investors. In this ZEC guide, we will cover the basics and fundamentals of Zcash, as well as ZEC news and give practical advice on how to buy Zcash before […]

zcash guide by changehero

Zcash (ZEC) is one of the most prominent privacy coins in the current crypto scene. The upcoming ZEC halving in November piques the interest of many investors. In this ZEC guide, we will cover the basics and fundamentals of Zcash, as well as ZEC news and give practical advice on how to buy Zcash before this event.

What is Zcash?

Before we take a deep dive into the features and specifics of what Zcash is, let’s start our Zcash guide with the origins of the currency.

Like with many other privacy coins, the issue that started Zcash was the lack of privacy in Bitcoin. As we know, the transactions in Bitcoin’s blockchain are recorded in a pseudonymous but also transparent way. Given enough information, it is possible to trace the addresses and transaction history back to a certain person in the real world. Additionally, in Bitcoin, flows of cash and balances would also be transparent, meaning that it is not suited to store confidential financial information.

Zcash logo
Source: Zcash

Zcash was initially developed in 2013 as a privacy extension to the original Bitcoin protocol by a group of cryptographers from John Hopkins University in Baltimore, MD (USA). The Bitcoin core group of developers turned down the proposal due to protocol’s novelty and computational intensity. With some further additions, the Zerocoin protocol was made into a fully-fledged blueprint for a cryptocurrency of its own.

To launch and support the endeavour, Zooko Wilcox was recruited to the project as the CEO of a newly established Zcash Company. They managed to raise initial funding and launch Zcash as we know it. In 2019 ZEC news reported that Zcash Company was rebranded as Electric Coin Company.

So what exactly did these companies and researchers work on? This is what the next sections of our ZEC guide are about.

What is ZEC?

Zcash is centered around its native currency with the same name and ticker ZEC. Despite the protocol being designed in 2013, the currency itself was launched in 2016. The time was taken to complete the protocol from Bitcoin extension up to a complete and independent structure, and also to seek funding and create the opportunity for a successful start.

Zcash price chart
Source: CoinMarketCap

Zcash is a rather rare case of an older coin when the all-time high was not recorded in December 2017 or January 2018. Instead, its highest price actually was observed on launch ($5,941.80 on October 29, 2016). In fact, the first Zcash news reported it surpassed the price of Bitcoin on that day.

The second highest price of ZEC was around $900, at the same time as the peak of 2017 Bitcoin rally occurred. By the end of 2018, ZEC was down to double digit numbers.

In June 2019 and February 2020, in bull markets ZEC was also able to exceed $100 and $70 respectively. From the looks of it, it may seem that the price tends to get lower over the years. This August, though, it was able to near $100 again.

At the moment of writing the ZEC guide, its market capitalization is $541,924,337 (rank 32), and with 10,105,700 ZEC in circulation the price of ZEC is $53,63.

ZEC Halving

This November, there will be the first miner reward halving in ZEC. The reward will be reduced from 6.25 ZEC to 3.125 ZEC. This is a mechanism that might in short-term make Zcash mining less profitable but in the long run deflate the currency, so all its units should be more valuable. Halvings are generally considered bullish events in BTC because of that, but we will have to follow the ZEC news this November and further to see how it will play out for Zcash.

Moreover, the Founders Reward, which accrued 20% of the block rewards, will expire at the same time. It is planned to be replaced with a new funding mechanism, developers’ fund.

If you are already thinking about purchasing ZEC, do not hurry so much. Read on this ZEC guide for more fundamentals and practical tips on how to buy Zcash until the end.

ZEC Use Cases

Basically, Zcash is supposed to be used in the same vein as Bitcoin: as peer-to-peer digital cash, but with privacy functions.

There are hundreds of shops and merchants that accept ZEC either through cryptocurrency gateway or with their own means. According to Cryptwerk, in the past month the number of businesses that accept Zcash grew to 675. It’s in the top-10 most used cryptocurrencies. The most popular categories that accept ZEC are Internet and crypto services, and shops and markets.

Now that we know more about the currency, we’ll be passing over to the specifics of the protocol that it is powered by in the following section of our ZEC guide.

How does Zcash work?

Despite Bitcoin Core code being a foundation for its code, Zcash is not a fork of it per se. It is an original open-source protocol developed by cyber security experts, aimed at providing privacy to all its users.

Its trademark feature is zero-knowledge proofs. With it, ZEC users can fully or partially obscure addresses of one or both parties participating in the transaction, as well as the amount of funds transferred. 

zero knowledge proofs analogy
Source: Visual Zero-Knowledge Proof of Identity Scheme: A New Approach
by Abdullah Jaafar and Azman Samsudin, 2010

Zero-knowledge proofs, in essence, are cryptographic functions which do not communicate the mathematical solution to the validator. Instead, they provide proof that the solution was indeed found. A thought experiment called “Ali-Baba’s Door” is often used to illustrate it. Peggy (Prover) enters the cave and chooses a random path to a “magic door”. They know the code (key and prerequisites for a transaction) to open it. Victor (Verifier) follows into the cave and stands at the branching point. They don’t know which path Peggy chose or on which side of the door they are standing. Victor can ask them to come back to the branching point either through path A or B at random, and Peggy can do it because they can pass through the door. The whole process can be repeated until Victor is convinced Peggy knows the magic word. Thus, without explicitly knowing the process or the prerequisites to confirm the transaction, a verifier can approve or decline a prover’s action.

Zcash implements an advanced form of zero-knowledge proofs, zk-SNARKs which stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. In short, it does not require prover and verifier to interact and is faster and efficient. How does it enable shielded transactions?

Instead of public UTXOs (unspent transaction outputs) like in Bitcoin and analogous cryptocurrencies, Zcash uses encrypted “commitments”. Nodes keep track of commitments and corresponding nullifiers (function that helps provers verify transactions).

Zcash is not the first and only coin with privacy features, though. In the next section of the Zcash guide we cover the differences from other well-known protocols and currencies.

How is ZEC different from other privacy coins?

Monero

  • Private by default, in Zcash privacy is optional. Because of this, Monero has issues with regulatory compliance;
  • Monero is funded by donations, Zcash keeps a founders reward fund which accrues 20% of all miners’ rewards for Zcash development.

Dash

  • Sometimes Dash is also treated as a privacy coin due to the PrivateSend function. However, it is fully optional and is achieved through output mixing, which is not a cryptographic method of obfuscation.

Verge

  • Verge also has privacy features. They are more focused on obscuring the user’s IP. Verge Currency also has stealth address functions, which works not with cryptography itself but rather with generating several addresses that only the owner can claim.

In comparison with other privacy coins, Zcash has on-chain cryptography to enable privacy functions, but only if a user opts in. zk-SNARKs cover all the ground, not only IP obfuscation or transaction history.

So far it sounds very positive, doesn’t it? But we think it is fair to also look at the criticisms and people’s opinions to make our ZEC guide comprehensive.

Is Zcash Controversial?

At the time of ZEC’s launch, there were two major ways to launch a cryptocurrency. Some developers went for a “fair” launch with no premine, and others chose to kickstart their project with an ICO. Zcash chose to launch with a hybrid model. However, it became a point of contention anyway, because the core group of developers still hard-coded a rewards program for themselves to put into development of the chain. Many crypto community members argued that this is not exactly in the spirit of decentralization, to put it lightly.

Zcash has also had a history of very buggy releases. Having a steady developer team has helped them in fixing those bugs in time, but nevertheless, the community remembered. For instance, one of the bugs, if exploited, could have led to infinite inflation, and another exploit could have been used to render privacy features useless by disclosing an IP address of a full node.

These blunders are a thing of the past now, even though they are not erased from history. What about the future of Zcash? We’ll be moving on to that section of our ZEC guide.

What is the Future of Zcash?

The Electric Coin foundation has a plan for ZEC development for a few years ahead.

Due to the computational intensity of ZEC’s cryptography, full nodes are given a higher priority from the developers than light wallets. However, this has been changing over 2020, and the team plans to keep delivering on that front and cater to the users of Windows and ChromeOS. With Cosmos peg-zone on the table, Zcash development team is also considering cross-chain integrations for ZEC.

Zcash Foundation is currently working on fine-tuning the governance structure. They frequently hold calls and inquire the community on the future of the Major Grant Review Committee (MGRC), which will distribute the funds from the Dev Fund towards research and development (most proposals are public here).

Next in the Zcash guide, to learn what the investors say about ZEC, we will cover some Zcash news from Twitter.

ZEC Posts from Twitter

It does not really come as a surprise that Edward Snowden is pro-privacy coins. He even seems to like a controversial idea of the developer’s fund. This is not the only time that Snowden has voiced his support for Zcash, and it speaks volumes.

Ryan Selkis of Messari is also a longtime supporter of Zcash. Not only he often endorses the technology and modus operandi of the coin, but also he has faith in them as an investor. Won’t be unfair to assume that Selkis is closely familiar with the fundamentals we covered in our Zcash guide so far. 

In the ZEC news, Electric Coin Company recently presented a thesis to Grayscale LLC. It’s the leading company for digital currency investment funds, and being endorsed by them can attract investors to ZEC.

In other Zcash news, the report that proves that Zcash is compliant with the FATF (Financial Action Task Force, international organization that combats money laundering and financing of terrorism) AML regulations is in. There are many concerns surrounding privacy coins about their possible use in money laundering, but the opt-in nature of Zcash privacy features allows it to stick to the regulatory requirements which might be the question whether the coin survives in the world where cryptocurrencies are regulated or not.

Zooko Wilcox is also very active on Twitter, always sharing the latest ZEC news and updates. This quote from another investment thesis highlights the mission of Zcash: to give the people their basic right to privacy back.

And now that we have had enough talk about the fundamentals of the project, we will be going forward to a more practical part of our ZEC guide. Here are our tips on how to buy Zcash, store and exchange ZEC.

How to buy Zcash?

Privacy coins can be sometimes tricky to find on some centralized exchanges. You don’t have to worry, though, because we have handled the search of trusted liquidity providers already! You can get it on ChangeHero at the most competitive rates by exchanging it with any other cryptocurrency from our long list. We made sure that the experience will be easy and secure, and if anything goes wrong you can get help from our support specialists at any time of the day.

What is the Best ZEC Wallet?

To use Zcash to the fullest extent, one has to be an advanced user. The most reliable way to store ZEC and use its privacy features is to run a full node, but not everyone has the memory and data bandwidth to keep it active. Alternatively, Zcash specific wallets with shielded address support like ZecWallet Lite on desktop or Nighthawk Wallet on mobile are available.

For hardware storage of Zcash, users can choose Trezor devices. Many multi-currency wallets like Coinomi, Trust and Exodus also have support of ZEC transparent addresses. In Exodus and Trezor, you can use the exchange option provided by ChangeHero right in the app to swap crypto with Zcash.

How to exchange ZEC?

To make our ZEC guide complete, we include the step-by-step instruction on how to buy Zcash on ChangeHero with crypto. It’s really easy:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your ZEC wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. For  Fixed Rate transactions you have 15 minutes before it expires;
  4. From here on, you won’t need to do anything. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your ZEC is on the way to your wallet. And so, the transaction is finished!

Remember that you can reach our support in the chat on our website or through the email: [email protected].

Conclusion

Many crypto-savvy investors and developers, as well as human rights advocates, think that the future is behind privacy coins. Right now, they might be a challenge for users and regulators, but sooner than later this might as well change to the better. Zcash has all the opportunities to be at the forefront of this revolution. To check out other articles similar to our ZEC guide, make sure to subscribe to our blog and ChangeHero on Twitter, Facebook, Reddit and Telegram.


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Author: changehero
September 25, 2020

In this weekly crypto digest, ChangeHero team compiles in short Bitcoin news, as well as other cryptocurrency news and gives an update on our progress. What positive signs we saw in Bitcoin? Check out our Bitcoin digest section! How did Ethereum outperform it? Find the answers in our article! ChangeHero Updates: UNI and XEM Supported […]

Weekly crypto digest by changehero

In this weekly crypto digest, ChangeHero team compiles in short Bitcoin news, as well as other cryptocurrency news and gives an update on our progress. What positive signs we saw in Bitcoin? Check out our Bitcoin digest section! How did Ethereum outperform it? Find the answers in our article!

ChangeHero Updates: UNI and XEM Supported

This week, we continued to expand the list of our supported cryptocurrencies, as well as return some currencies after fine-tuning. Now ChangeHero users can exchange the new Uniswap governance token UNI. NEM is also back and available for exchange!

Interview with Francisco Sarrias from Jelurida

Interview with Francisco Sarrias, Senior Sales Engineer, Jelurida

We also talked with Jelurida’s Francisco Sarrias about the projects of the company: Ardor, Ignis and NXT, as well as the experience of working in the blockchain industry in 2020. Why is he sure that Ardor is better than Ethereum? What was included in the Ardor hardfork that happened earlier this week? Check out the full interview.

And now, we’ll give the Bitcoin digest of the news and review other cryptocurrency news.

Highlights of the Latest Cryptocurrency News 

Short Bitcoin News

Bitcoin balance on exchanges chart
Source: glassnode.com
  • To start our Bitcoin digest, Delphi Digital reported that in comparison with the previous year, Bitcoin is showing more sustainable growth. Bitcoin holders are more inclined to hold rather than sell and speculate. Among the metrics that let them come to this conclusion was a decrease in the amount of BTC held on exchange addresses.
  • Anthony Pompliano hosted Dave Portnoy on one of his recent podcasts. Portnoy became famous in the crypto community when he entered the market this August. He confessed that the volatility was indeed too much for him to handle, so he bailed out. Little did he know that he in fact sold the top. Regardless of his rather harsh stance on crypto trading, now that he got the taste of it, he still thinks the community is his people, and he will likely be eventually back.

We have more Bitcoin-related news covered in this article. Make sure to read it until the end for other short Bitcoin news!

Blockchain & Tech Cryptocurrency News

  • Earlier in June, Coinbase presented Rosetta, an open-source set of tools and specifications to build solutions for integrations with blockchains. This week, they introduced rosetta-bitcoin specification as an application of it in practice. Rosetta is supposed to facilitate blockchain explorer, dApp and wallet development.
    Pracs application flow chart
    Source: IOST on Medium.com
  • IOST shared their progress in collaboration with Japan’s Pracs, association of medical experts. They have developed the Pracs application which enables secure and reliable transfer of sensitive medical data. The application is used as a secure channel of communication between patients and medical workers, and the cryptographic encryption guarantees that only the authorized users can gain access to the medical records.

Cryptocurrency News on Regulation

Reuters reported that the European Commission plans to create an all-encompassing regulation for cryptocurrencies by 2024. It will make cross-border payments and operations easier and cheaper for all EU residents and institutions.

Cryptocurrency News on Adoption

  • Payment provider Visa keeps exploring the blockchain space. In a recent interview with the head of crypto research at Visa, Cuy Sheffield, he cleared up some of the company’s plans. They are certainly exploring the possibilities for blockchains to become a part of their grandiose undertaking, an interoperability network for all major payment systems. Visa is also investing in blockchain companies and is working with central banks to help them develop CBDCs.

DeFi Cryptocurrency News

Tether marketcap chart
Source: CoinMarketCap
  • 2020 is shaping up to be the year of stablecoins. Tether (USDT) capitalization has grown threefold since January. This week, it exceeded $15 billion. Analysts connect it with the growth of the DeFi sector.

Cryptocurrency News on Twitter

In an analysis provided by Unfolded, we see that Ethereum miner revenues have recently overtaken Bitcoin miner revenues. The Ethereum network is very busy these days, and the revenue of miners includes gas fees paid by the users. This also means that the network fees in Ethereum are even higher than in Bitcoin, but surprisingly this does not drive the users away.

Mike Novogratz, CEO of Galaxy Investments, reminds us of another reason he invests in Bitcoin. Looks like his endorsement of DeFi, though, turned out to be quite divisive.

A new update to Lightning Network, Wumbo channels, came with a shortcoming that could have been exploited. The severity is underlined by the fact that it is not a costly endeavour, which Jager explains down in the thread. To solve this problem, which may curb the enthusiasm of Bitcoin-as-a-global-payments-system apologists, Jager started working on a firewall solution.

With all these Bitcoin-related tweets, we’re going to wrap up the cryptocurrency news and Bitcoin digest and analyse the changes in the prices of top cryptocurrencies.

Top Crypto Digest

When it comes to crypto markets, this week was not easy. In the end, very few currencies saw gains in the 7-day time frame, though the movements might set up some of them for a comeback.

At the moment of writing, the market’s dynamics for the last 7 days are the following:

  • Total Market Cap: $335,092,742,547 (-0.94%); 
  • BTC Dominance: 61.14% (was 59.96%).

ChangeHero Top-10 7d Change

Bitcoin weekly price change
Source: Coin360

This week, the markets were constantly shifting between ups and downs, but in the end, many top-capitalization currencies ended up with losses of about 10%. Nevertheless, as we mentioned in short Bitcoin news in the article already, Bitcoin might as well grow rather soon.

In our top-10 we included cryptocurrencies that can be exchanged on ChangeHero. You can buy and sell some of them with your credit card, too. At the moment of writing, the 7-day change of the top currencies is the following:

ChangeHero Gainers of the Week

Since the markets are trading in the red this week, very few currencies saw gains. At the time of writing this crypto digest, the top three are:

  • NEM (XEM) $0.107235 (↑5.47%);
  • OKB $6.20 (↑1.58%);
  • DigiByte (DGB) $0.024225 (↑0.96%).

Round-up

In terms of cryptocurrency news, that was an interesting and intense week. Only more the reason to be looking forward to the next one!

We hope you enjoy our weekly crypto digests. To not miss them, don’t forget to subscribe to our blog and follow ChangeHero on Twitter, Facebook, Reddit or Telegram.


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Author: changehero
September 23, 2020

Half a year after the COVID-19 outbreak was classified as a global pandemic, the world has changed in the ways we could not expect. Obviously, the crypto market saw some change, too. In today’s crypto guide, ChangeHero will give you an overview of the changes in the crypto and blockchain landscape under these historical circumstances. […]

COVID and Crypto

Half a year after the COVID-19 outbreak was classified as a global pandemic, the world has changed in the ways we could not expect. Obviously, the crypto market saw some change, too. In today’s crypto guide, ChangeHero will give you an overview of the changes in the crypto and blockchain landscape under these historical circumstances.

Crypto during the Pandemic

The motivation behind writing this crypto guide was the fact that crypto and blockchain have proven themselves as disruptive technologies during these six months. How did it help? How did it evolve? Let’s have a look.

A person holding a phone
Photo by @dafidvor on Unsplash

As soon as the lockdowns started to happen in many countries, it became obvious that the means of communication and daily life had to adapt. Several hackathons to tackle the challenges of pandemic (for example) emerged and resulted in real-use applications on blockchain. This technology is necessary for its reliability, security and transparency.

The circumstances that made a lot of people go cashless accelerated adoption of digital means of payment. This is why governments started to be concerned about digitizing the financial instruments and started (or continued) research into central bank issued digital currencies. At the same time, people adopted already existing solutions like stablecoins. The growth in capitalization of Tether and USD Coin with the simultaneous increase in active unique addresses and the number of transactions point to that.

The community ethos behind cryptocurrencies made it easier to launch initiatives which require collective effort to succeed. Those include fundraisers and applications that help different pandemic-related causes.

On the other hand, scammers and hackers also became more active. Remote work proved to be a challenge for the unaccustomed businesses, but even the most conservative of them had to adapt. Not only they had to learn how to manage remote teams, but also the problem of access to security-sensitive resources, leaks and phishing started to be very real. The question of data security and a recent Twitter hack showed how we need to modernize and in what ways blockchain is able to help.

Top-5 Cryptocurrencies Before COVID-19 and Now

WHO announced COVID-19 outbreak as a pandemic on March, 11. For the purposes of our crypto guide, we’ll be looking at the start of March. Let’s have a look at the five top cryptocurrencies between then and now.

Bitcoin

Bitcoin price chart for January and February 2020
Source: CoinMarketCap

To understand the market movements, we have to understand what the top cryptocurrency was going through during these months. Prior to March, Bitcoin was experiencing a positive trend: its price rose from $7k after a rough 2019 to $10k in a couple of months. 

Bitcoin price chart for March - September 2020
Source: CoinMarketCap

With the news of an impending global outbreak, however, the confidence waned, and on March 13, two days after the WHO announcement, the stock market plummeted, taking Bitcoin and all cryptocurrencies with it. On that day, BTC sank as low as $4k, losing almost half of its value.

From there on, in March and April, Bitcoin price was recovering, and as soon as it reached the pre-crash level, it bounced even higher up to $9k. May was a rough month, when shifts by $1k overnight were not uncommon, but the month ended on a high note, and in June BTC surpassed $10k. June and July saw Bitcoin trading mostly sideways, which resulted in a culmination only by August. August has been the top of the price graph so far, with prices being consistently over $11k and even breaking $12k. But as the month came to a close, the price returned to a $10,300–$11k range. At the time of writing this crypto guide Bitcoin is worth $10,466.60.

Most analysts claim that in the long run, the pandemic is beneficial to Bitcoin, because it has solidified trust to the top cryptocurrency, as Bitcoin saw an influx of investors seeking a safe haven and hedge against inflation. In the short term, however, it is best to practice cautiousness because in quite a few places restrictions are being reintroduced and the number of cases signals a possibility of a second wave of the outbreak.

Ethereum

When it comes to top cryptos, 2020 has to be the year of Ethereum. First, crypto investors were flocking to stablecoins after the market crash and now, the DeFi craze is sweeping the space. This year is also supposed to become the year when the long awaited Serenity update, dubbed Ethereum 2.0, is supposed to go live on the mainnet.

Ethereum price chart for January and February of 2020
Source: CoinMarketCap

Prior to the pandemic news, things were looking pretty well for Ethereum investors. After a rough 2019, the new year started with a rally, and by February ETH reached $250. A couple of weeks later, the initiative shifted to the bears, but that was only the beginning.

Ethereum price chart for March - September 2020
Source: CoinMarketCap

Ethereum also lost about half of its value in the March bloodbath, and recovered to the February levels only slightly faster than Bitcoin. In June and July, its price was close to $240, but when it shot up in late July–early August, it did fly. $400 was reached within days, and a bit later, the price was already circling around $430. Unlike Bitcoin which stepped down as soon as September started, Ethereum finished the month with a bang, renewing its yearly high to $487.21. Unfortunately, the Ethereum network is really busy thanks to all the activity in DeFi, so the transaction fees and congestion accelerated the correction. At the time of writing this crypto guide, the price of 1 Ether is $339.81.

With the news that Ethereum 2.0 is only weeks away and the ongoing activity in DeFi, it is not too far-fetched that this recent record will be broken again quite soon. In case the second wave of outbreak engulfs the world, we can predict that decentralized finance will attract even more users, which is great for Ethereum which essentially houses its current infrastructure.

Tether

USDt (Tether) was a winner in this crisis as well. As investors sought to moor their positions on the market while keeping their investment from devaluing in March, the popularity of stablecoins pegged to USD has grown. By daily volume and capitalization, ERC-20 USD Tether is the top stablecoin, and the absolute top cryptocurrency in daily volume.

Tether Ltd. have attempted to adopt alternative blockchains to Ethereum, most likely, due to demand from the customers. As we have already mentioned, the increase in popularity of financial protocols built on Ethereum made the fees more noticeable and put the whole network under strain. Some of the alternatives Tether have explored are Algorand, OMG Network and Solana.

Tether token contracts chart
Source: CoinMarketCap

Over the course of 2020, USDt has been consistently growing from the point of view of on-chain metrics, too. The contract calls and transfers grew, signaling organic growth in adoption of USDt. As long as USD remains one of the most global currencies, USDT will have a strong position in the list of most adopted cryptocurrencies.

XRP

Unlike previous entries, XRP has not had a great year. Sure, so far the price is higher than at the beginning of 2020, but it has stepped down from the Top-3 and experienced serious volatility along the way.

XRP price chart for January and February 2020
Source: CoinMarketCap

The highest price XRP saw this year was recorded in February. In the light of rumors around the possibility of Ripple doing an IPO, the investors divided into two groups. One considered this a positive opportunity for XRP, and the other deemed it a sign that Ripple had given up on XRP. These rumors made the price spike and fall in February, which was immediately followed by the market crash.

XRP price chart for Marchh - September 2020
Source: CoinMarketCap

In general, we can see that XRP has more or less followed the trends of Bitcoin. July was a bit more exciting for XRP holders, as it first bounced up and then formed a parabolic curve up to $0.3. However, currently it looks more like a downtrend for XRP, amplified by the price movements of Bitcoin. At the time of writing the crypto guide, 1 XRP costs $0.231932.

Should lockdowns start happening again, money transfers and remittances might see increase in demand, and the companies which use XRP may benefit. However, XRP is more geared towards traditional centralized finance, and while it looks like it is here to stay, the competition from DeFi might be a serious challenge for XRP.

Bitcoin Cash

Bitcoin Cash price chart for January and February 2020
Source: CoinMarketCap

A fork of the top cryptocurrency, Bitcoin Cash was in and out of the Top-5 but now it is back in its old place. It also saw its price more than double in the first two months of 2020.

Bitcoin cash price chart for March - September 2020
Source: CoinMarketCap

Like XRP, it did not manage to reach the February highs or even the levels right before the March crash. For better or worse, BCH has been trading quite consistently around the $240 mark from April through mid-July. The only exception being August, when BCH was closer to $300, but now it looks like the price is back on its older track. At the time of writing this crypto guide, Bitcoin Cash is evaluated at $214.93.

In November, Bitcoin Cash will go through a scheduled upgrade. This time, there is another community split and fork planned. This might hurt BCH as the hashrate securing the network can drop.

Interested to learn how to buy cryptocurrency from the list? We’ve got you covered, keep on reading until the end!

The Global Finance After the Breakout

A building front
Photo by @aditya1702 on Unsplash

Economies across the world had to suffer shutdowns and to cope with that, inflation was let loose. Injections of capital kept the stock markets from collapsing completely and helped them stay afloat. It’s fair to say that the same has happened to the crypto market but in this case, no government was involved.

The pandemic has also coincided with the rise of decentralized finance, novel systems that reclaim financial freedom from banks and institutions. Lending, exchanging and saving can now be done without participation of an authorized third party. Their place is taken by financial protocols, which automate the processes and are exempt from bias and discrimination. However, these protocols are still developed by humans, so it is of utmost importance to make sure the platform is reliable, while the sector is still in its infancy and unregulated. For more information, check out our crypto guide on DeFi!

How to Buy Cryptocurrency

The biggest challenge to this day is the process of onboarding to the crypto ecosystem. Be it owning some assets for the long run or putting them to work in DeFi, the question how to buy cryptocurrency still stands.

Luckily, platforms like ChangeHero make it easier for everyone. You can buy BTC, ETH, USDT and BCH in a matter of minutes. For the instructions on how to buy cryptocurrency, we have a handy crypto guide with step-by-step directions.

These currencies are also available for exchange against other coins and tokens supported by ChangeHero, with no signups and only for a small 0.5% fee. It’s easily done in a few steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. In the next step, provide your recipient and refund addresses of corresponding currencies;
  2. Double-check the information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. For  Fixed Rate transactions you have 15 minutes before it expires;
  4. From this step forward, you won’t have to do anything else. We will be checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your coins are on the way to your wallet. That’s it!

Should any issue arise, our support team will take care of it 24/7. Just reach them in the chat on our website or through the email: [email protected].

Conclusion

As much as we’d like to put this global crisis behind us, the echo of the COVID-19 pandemic will be sounding for a while after everything is over. Cryptocurrencies may have got the chance to shine, but the real challenge would be to keep thriving in the aftermath of the outbreak. For now, it is still necessary to keep working towards a resolution and stay safe.

As a postscriptum, we’ll share the pages where you can subscribe to our blog for more updates and news: Twitter, Facebook, Reddit and Telegram.


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Author: changehero
September 22, 2020

Crypto community’s beloved original meme coin has had a crazy year so far: rise by thousand percent, return of the developers. In this updated Dogecoin price prediction 2021 and 2022 by the ChangeHero team, we try to see what opinions there are about the future of DOGE. Dogecoin Price Prediction 2021–2030 Year Price 2021 $0.19–1 […]

Crypto community’s beloved original meme coin has had a crazy year so far: rise by thousand percent, return of the developers. In this updated Dogecoin price prediction 2021 and 2022 by the ChangeHero team, we try to see what opinions there are about the future of DOGE.

Dogecoin Price Prediction 2021–2030

Year Price
2021 $0.19–1
2022 $0.234–0.3026
2023 $0.313–0.3389
2024 $0.3–0.5
2025 $0.5563–1
2030 $1–8

 

  • A short-term Dogecoin price prediction 2021 mentions the coveted $1 target but generally these agree that the price will be the same or lower;
  • As for Dogecoin price prediction 2022, the opening price might be lower than currently — $0.17 — but ultimately can bring profits rising to $0.284;
  • Different predictions claim $1 for DOGE is reachable but the years are different: in 2021, by 2025 or even only in 2030. Different Dogecoin predictions for that year actually give a range of $1 up to $8.

What is Dogecoin?

Dogecoin logo
Source: Dogecoin is Awesome

Dogecoin (DOGE) is a cryptocurrency, built on Luckycoin (a fork of Litecoin) code. It started as a joke in 2013 but became popular thanks to the Doge meme. 
Dogecoin is a Proof-of-Work cryptocurrency, meaning that it is propagated and secured by mining. Dogecoin is merge-mined with Litecoin, using the same hashing algorithm Scrypt.
Dogecoin circa 2014 found its niche in tipping. Over the years, the meme went out of the spotlight and initial developers abandoned the project. 
Dogecoin stayed afloat thanks to the people that formed one of the most welcoming and devoted communities in crypto. You can read more about Dogecoin in our beginner’s guide.

Dogecoin Price History

2013 – 2016

Dogecoin price in 2013 – 2016
Source: CoinMarketCap

The Dogecoin price journey can be divided into several periods. The peak soon after the launch on December 6, 2013 can be explained by the coin’s novelty, meme value and a concrete use case. 
Back then, its value quickly rose to 228 satoshis or $0.001964 from a starting price of $0.000603. Soon after the pump receded, things started to look grim for Dogecoin. 
Prior to 2017, its value used to grind against fourth-place decimals of a dollar for years. A pump in early 2016 took the price up from $0.0001481 to $0.0004551, but it didn’t last for long. 
On average, the DOGE price in 2016 and 2017 was a bit higher than in the two previous years. It can be interpreted as a sign of Dogecoin somewhat solidifying its positions.

2017–2019

Dogecoin price in 2017–2019
Source: CoinMarketCap

2017 was a year that changed a lot for cryptocurrencies, including Dogecoin. With more listings and rising interest in the whole market, Dogecoin got involved in more trading. 
Its price spectacularly soared in sync with Bitcoin in early 2018 to $0,018773 USD. The opening price for 2017 was $0,000223 USD, and the closing — $0,008972, an increase of 4000%.
This would not be the last time Dogecoin price followed BTC’s, like in August of the same year. In 2018, DOGE established a consistent price range around $0.002–$0.003.

2020–2021

Dogecoin price in 2020–2021
Source: CoinMarketCap

Since mid-2019, Dogecoin has been trading sideways, while still under the influence of general market trends (bullish rally and crash in March 2020, for example). Time and time again, experts expected the accumulation trend to resolve in a new pump.
The first time their predictions came true seemed to be in July, 2020. However, this was not a result of some technical or fundamental change. 
Dogecoin just became really popular with Investing TikTok, a slew of the viral video app user base dabbling in stocks. DOGE doubled in price to $0.00448, and after returning to the old range near $0.003, Dogecoin rose to that high again only at the close of 2020.
In 2021, though, Dogecoin went up in a way that can only be described as vertical. First, DOGE was influenced by the Bitcoin rally (again) and rose to $0.012 in January. 
Around the same time, billionaire Elon Musk started mentioning Dogecoin more often than ever. He would sporadically tweet about Dogecoin in 2019 and 2020, but the frequency of posts led everyone to believe he shills the coin.
By February, Dogecoin was picked up by the WallStreetBets movement to previously unseen heights. Dogecoin renewed its ATH seemingly every month, until it reached its peak at $0.7376 on May 8, 2021.
The correction that followed was as rapid as the ascent but even now DOGE is trading for 4550% more than at the very start of 2021.
At the time of writing, Dogecoin ranks 10th by market capitalization. A single DOGE is worth exactly 1 DOGE… or $0.2134, if we’re being serious.

What Can Influence the DOGE Price?

Popularity on the Internet

Time and time again, Dogecoin is remembered for what it is: an approachable and accessible altcoin. The meme origin also helps build the image detached from the stereotypical stock and cryptocurrencies, making it even more approachable. 
The TikTok and WSB pumps picked DOGE up for these reasons exactly. This factor is by no means fundamental but history shows it surely makes an influence on the price.
Not to mention that in early 2021, Dogecoin would be frequently mentioned by Elon Musk. Eventually, his tweets lost the effect that sent the DOGE price flying and even had the opposite effect on several occasions.

Increasing Market Exposure

The trading volume has increased significantly during the last two years. More exposure means both more opportunities to buy the coin and more awareness. 
DOGE pairs are dominated by crypto pairs, which used to be a problem, since it wasn’t easy to purchase DOGE with fiat. These days, your best option is to buy Dogecoin with BTC and USDT, and stablecoins are accommodating capital at an avalanche-like rate.
Dogecoin trading massively boosted the revenues of Robinhood brokerage this year at highs. However, the broker is introducing crypto withdrawal only now, and has a history of halting trading during peak volatility.

Dogecoin Adoption

If we are talking about mainstream adoption outside the crypto market, Dogecoin is doing well. According to the statistics provided by Cryptwerk, the number of merchants and payment gateways that accept it is steadily growing. 
At the moment, there are 1,700 points of purchase where you can buy goods and services with DOGE registered with Cryptwerk. A year ago, there was less than half of that. 
Dogecoin is supported by as many as 27 payment gateways, the largest being CoinPayments and CoinGate.

Dogecoin Revival

Since 2018, the developer activity on Dogecoin repository has been rare, if not nonexistent. That is, until early 2021, when devs started working on the code again and released two new versions so far.
Following the devs, Dogecoin Foundation was also reestablished with community veterans at helm to drive awareness and adoption. Max Keller, Vitalik Buterin, Billy Markus and even Elon Musk were invited on board as advisors, though the latter is represented by Jared Birchall.

Thoughts from Influencers


Ethereum co-founder Vitalik Buterin in an impromptu Twitter AMA session proposed an idea of transition to Proof-of-Stake. With the renewed development activity and re-founded Dogecoin Foundation, ideas like these can well become reality.


The Dogecoin price chart is printing some bewildering patterns, and the community is starting to interpret them half-jokingly, half-seriously.


AMC Theatres started accepting cryptocurrency payments but it seems like Dogecoin is not on the list. This confused many community members and allies as this coin is much better suited for daily payments than, say, Bitcoin.

Dogecoin Price Prediction 2021

HueFin News DOGE Price Prediction 2021: $0.19–0.26

YouTube channel HueFin News gives an analysis of Dogecoin price chart without bias: there is a clear downtrend going on right now. However, as always, this is not a reason to stop trading and watching the market.
They put a crucial support level at 19 cents, and if 20 cents is held, sideways action can be expected. The resistance level at 26 cents can be broken at any time, though, and that would signal the reversal they mention in the video title.

CryptoNewsZ Dogecoin Prediction 2021: $1

CryptoNewsZ analyst David Cox is sure that DOGE can push through $1 by the end of 2021. More precisely, the strongest resistance will be met at $1.07 and the low on the downside will move to $0.91.

WalletInvestor Dogecoin Price Prediction 2021: $0.23–0.343

Algorithmic forecast service WalletInvestor is pretty vague on the target for closing 2021. The lower bound of range is a little lower than now at $0.23 but the upper bound is only slightly more at $0.343.

Dogecoin Price Prediction 2022–2024

Gov.capital’s Dogecoin Price Prediction 2022: $0.234–0.3026

Gov.capital’s algorithmic projections suggest that in a year from now, the DOGE price will be approximately 40% higher than now.
On the charts, they expect a bounce similar to the mid-2021 price movement. At the peak in May, Dogecoin can reach $0.47 on average.

TradingBeasts Dogecoin Prediction 2023: $0.313–0.3389

Analytics service Trading Beasts has a moderately bullish forecast for Dogecoin in the next few years. 2023 will open with DOGE at $0.313 on average and close somewhere between $0.288 and $0.4237.

LongForecast Dogecoin Price Prediction 2024: $0.3–0.5

As is typical for Dogecoin, Long Forecast claims that volatility will keep being a factor in the DOGE price. After slumping for a while, in 2024 real profits will start coming in: lows will move above $0.3 and highs will reach $0.5.

Dogecoin Price Prediction 2025

DigitalCoinPrice DOGE Price Prediction 2025: $0.6268

Dogecoin Price Prediction 2025
Source: DigitalCoinPrice

Based on historical data, DigitalCoinPrice predicts that Dogecoin will be worth $0.6268 on average in 2025.
Highest monthly average price is expected at $0.7342 in April, while the lowest average can be expected in May: $0.5563.

Economy Watch DOGE Price Prediction: $1

Economy Watch writer and analyst Connor Brooke gives a rough target at $1. This would take a 272% increase in current price but given how DOGE pulled off much larger strides, this is very easy.

CryptoGround DOGE Forecast: $0.6347

Algorithm of CryptoGround does not usually include volatility in the picture and operates with averages. As a result, in their projections, DOGE will accumulate enough value to be worth $0.6347 in 2025.

Dogecoin Price Prediction 2030

As for the distant future, not many analysts feel up to the task. Using existing price data, Coin Price Forecast tries to predict that DOGE will meet strong resistance at $1 and hover around it.
More specifically, by mid-2030 DOGE will be worth $0.94 and by the end of it — to $0.98.
A more bullish scenario is painted by PricePrediction.net, in which they give a range of $6.48 and $8 for DOGE in 2030. Given the time period and DOGE’s potential, this is far from far-fetched.

ChangeHero’s Dogecoin Forecast

In the words of Messari’s Ryan Selkis, “Dogecoin will continue to rock because legends never die”. It started as a meme and quickly became a gateway currency for the crypto-curious, celebrated for its light-hearted community.
2021 brought Dogecoin developers and Dogecoin Foundation back into the picture, so now holders can expect more news. It may not be this year, but in 2022 and forward Dogecoin can be back into the spotlight as more than a meme coin.

How to buy Dogecoin with ChangeHero?

Before you buy DOGE, make sure to find the best online Dogecoin wallet to receive the purchase. We can recommend Exodus, where you can make the purchase right in the app thanks to ChangeHero integration.
The fastest and easiest way to get Dogecoin is to swap it with other cryptocurrencies on ChangeHero:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your DOGE is on the way to your wallet. 

ChangeHero’s customer support is available 24/7 in the chat on the website or through the email: [email protected].

Conclusion

Dogecoin made shocking strides in price thanks to being embraced by retail investors. With a meme stock fad dying out, Dogecoin will have to suck up the blow to the price and start building value.
Stay tuned to more content in our blog and our updates on Twitter, Facebook, in Telegram or the subreddit!

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”What will Dogecoin be worth by 2022?” answer-0=”Different sources put Dogecoin 2022 targets in a range between $0.17 and 0.5.” image-0=”” headline-1=”h4″ question-1=”What will Dogecoin be worth by 2025?” answer-1=”Some analysts predict Dogecoin will rise in value up to $1. Lowest estimate for DOGE in 2025 is put at $0.5563.” image-1=”” headline-2=”h4″ question-2=”What will Dogecoin be worth by 2030?” answer-2=”As such long-term forecasts are imprecise, the targets given for Dogecoin in 2030 vary from $1 to $8.” image-2=”” headline-3=”h4″ question-3=”Can Dogecoin hit $1?” answer-3=”Opinions are very divided on this question. Those who believe DOGE can hit $1, give different time estimates, from as soon as in 2021 to only in 2030.” image-3=”” headline-4=”h4″ question-4=”What is the future of Dogecoin?” answer-4=”With the Dogecoin repository and Foundation revived, the community has more than enough reasons to believe the future of Dogecoin is as secure as ever.” image-4=”” count=”5″ html=”true” css_class=””]


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Disclaimer

This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price. 
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

Author: changehero
September 22, 2020

For today’s interview, we invited Francisco Sarrias, Senior Sales Engineer of Jelurida. They are responsible for the development of the ecosystem that encompasses Ardor and Ignis, as well as maintenance of the Nxt blockchain. Just like Nxt was the pioneer in implementing Proof-of-Stake, in the same way, Ardor is pioneering new use cases as a […]

Interview with Francisco Sarrias, Senior Sales Engineer, Jelurida

For today’s interview, we invited Francisco Sarrias, Senior Sales Engineer of Jelurida. They are responsible for the development of the ecosystem that encompasses Ardor and Ignis, as well as maintenance of the Nxt blockchain. Just like Nxt was the pioneer in implementing Proof-of-Stake, in the same way, Ardor is pioneering new use cases as a Blockchain-as-a-Service with the parent-child chain architecture thanks to Jelurida.

On behalf of the company, Francisco shared with us what it is like to work in the crypto industry today, what challenges Jelurida faces and how they are overcoming them, as well as provided insights in blockchain technology firsthand. We highly suggest you to get comfortable and enjoy the talk!

Introduction

ChangeHero: Jelurida, Ardor, Nxt, Ignis – Sounds like they are from a Sci-Fi film. Is there any interesting story behind these names?

Francisco Sarrias (FS): Yes, sure. NXT ($NXT) was our first cryptocurrency born in 2013 when almost all alt coins were clones of the Bitcoin code. NXT blockchain software was written from scratch in Java and implemented the Proof of Stake consensus algorithm successfully for the first time in history. Its name means that NXT is the “next” thing after Bitcoin.

Jelurida is the name of the company that the core developers of NXT founded in 2017 to protect and promote the NXT technology. Its name comes from the nicknames of the founders: JEan, LUc, RIker, DAmelon.

Ardor ($ARDR) is the name of the cryptocurrency and multi-chain architecture blockchain launched in 2018 by Jelurida as a new version of NXT with the capability of having child chains (or shards) for each customer or application. This is revolutionary because it lets solve the blockchain scalability problems that other single-layer networks suffer from nowadays. The definition of “ardor” is “extreme vigor or energy“.

Ignis is the name of the first child chain in Ardor and its native cryptocurrency ($IGNIS). Ignis allows anyone to create their tokens and market them in its integrated decentralized cryptocurrency exchange (DEX) without coding, just using an intuitive web wallet. The definition of “ignis” is “a light that sometimes appears in the night”. Ignis is the light that makes smart contracts available to non-tech savvy people, everyone can enjoy powerful preprogrammed smart contracts in the platform just using the computer mouse.

ChangeHero: Can you give our readers a quick intro to the projects?

FS: [NXT] was born as a blockchain for solving the energy waste and difficulty of use of Bitcoin and its clones. First, it was led by a community of enthusiasts but when some of the members of the community left the boat to launch their own projects based on NXT learnings (Lisk, New, Komodo, Iota, etc), it was clear that there was the necessity to evolve the community leadership into a corporation that could ensure the future of the technology, and then Jelurida company was born.

Jelurida launched an ICO in 2017 to raise funds for financing its operations, and as a result of that in 2018 Ardor and Ignis were born, leveraging the innovations of NXT and going forward by implementing in production a scalable architecture that could meet the demand for real world use cases.

Back to the Beginnings

ChangeHero: When did you first hear about blockchain? What was your initial reaction to it?

FS: In 2016 I owned a small web hosting company when cloud computing went mainstream.

I was trying to make some profit from all the hardware and datacenter space I already invested in, and this is how I discovered cryptocurrencies.

I was shocked when I learned about NXT, a crypto that did not need expensive mining because it was based on the Proof of Stake algorithm. As I have been always concerned about protecting the environment and the development team was amazing, I quickly became part of the NXT community.

ChangeHero: What made you realize that it was time to start Jelurida? What was the motivation behind it?

FS: Until 2017, all developing and marketing efforts of NXT were done on a voluntary basis and rewarded with donations. It made some of our community developers leave the boat to launch their own projects financed by ICOs. Then we came to the conclusion that we needed our own ICO to keep NXT evolving.

On the business development side, we were approached by some banks and corporations that were interested in our technology stack, but most of them were scared to deal with a community-driven project, they wanted someone to be able to sign contracts.

Also our code was being copied without respecting its original developers wishes, we could not establish a proper software license without being a legal entity. It was clear that we had to structure us as a company to solve all these issues.

ChangeHero: Did you face any challenges during the process of bringing things together in Jelurida? How did you cope with them?

FS: Yes, being a blockchain development company financed by an ICO is quite a tricky experience, especially because banks are reluctant to offer you their services like having a bank account. Then there is the accounting and taxing bureaucracy, we spent a lot of time and money before we could set up the right administrative structure.

Of course, we had some community members promote to company employees with most of our team working remotely from different time zones. It took some time to make the machinery work smoothly and some initial members left because they could not adapt to this innovative company model.

The Covid-19 crisis has forced most businesses to use telework intensively, but we have walked that path from the very beginning of the company, so we are now two years ahead on this flexible organization paradigm. Though, we’re still learning how to improve it and make it more productive and satisfying for our team members.

ChangeHero: How does an average consumer benefit from blockchain tech? Or does it benefit only the companies?

FS: The recent hacks of Twitter and data leaks from Facebook show how fragile are centralized organizations in the Internet era. They are subject to security risk, privacy violation and worst of all, malicious actors interference. Blockchain tech has the potential to make most organizations more transparent and ensure no one can abuse them to their own selfish interests. Decentralization and openness are the only real weapons we have against the security and manipulation threats of this complex world where everybody and everything is connected, and this concerns both companies and consumers.

ChangeHero: What is your opinion about other blockchain projects? Whom do you see as competitors?

FS: We have a lot of respect for other projects with a real developing team behind them trying to bring the latest state of the art to a production mainnet.

Unfortunately, when you look at Coinmarketcap, sixty percent of the top capitalization cryptos are either pure bitcoin clones with no real innovation behind them, ERC-20 tokens that are simple speculative instruments, plain Ponzi schemes or altcoins which simply see no development for months.

Competition is very healthy for the blockchain environment and we can all learn from each other. But market speculation confuses an uninformed investor that puts their money into dead coins or into pump and dump schemes.

In 2018, Jelurida launched the first multi-chain network which allows sharding of networks and applications. It is running on the same Proof-of-Stake consensus algorithm that NXT has been using for seven years now and has an incredible lightweight smart contracts framework in Java that helps avoid gas collapse altogether. So basically, it has everything that Ethereum 2.0 is trying to make a reality unsuccessfully. And given that they are still much better known than we are, you realize that hype and marketing in the crypto space is much more important than robust and good technology, we need to learn this lesson.

Let’s Talk Business

ChangeHero: In your opinion, what kind of businesses would be able to get the most out of Blockchain as a Service (BaaS)? Also, what industries would’ve employed blockchain technology earlier?

FS: We believe financial services is where disruption will happen sooner as we can now see with the DeFi craze. Tokenization of assets and programmable money are incredible tools to build a new financial system worldwide.

Of course, blockchain is very interesting in other fields like identity, logistics, document certification, voting etc, but the immediate revolution will happen in what makes the world go around: money.

ChangeHero: Tech giants like Microsoft and Amazon have also recently entered the BaaS market. How would this affect Jelurida? What makes your project different from the rest?

FS: These companies are selling their cloud services so their customers still need to figure out how to organize a blockchain on them. What we offer is a child chain or shard or “virtual blockchain” where you do not need to establish the consensus between your nodes of infrastructure because you profit from the consensus of the Ardor parent chain. Our proposal could be defined as “Consensus as a Service” instead of “Blockchain as a Service” because we save our customers the burden of ensuring the blockchain is not hacked or attacked, providing the security of their own blockchain will be the same grade as the parent chain Ardor. That means that the more child chains are added to the platform, the more secure the consensus will be, because it will incentivize people to run their own nodes and contribute to the security of the parent blockchain with their ARDR stake. Remember that more child chains means more transaction fees to the forger nodes, so that also makes the number of nodes increase, and thus improves the security of the network for all child chains.

In a traditional BaaS model like Azure and Amazon, your blockchain security depends on the money you’re supposed to pay to these hosting providers for having more nodes running. In Ardor, each child chain adds security to the rest of child chains.

You could see Ardor’s model as a decentralized hosting service, because the nodes are run by independent individuals or companies. Their incentive is the transaction fees they earn from all of the child chains joining the Ardor multichain.

ChangeHero: Nxt is the first blockchain to use the PoS consensus and now many platforms are upgrading their network to it. What do you think caused this shift? Do you think there is any possibility of a new kind of consensus appearing in future?

FS: There are several consensus algorithms but PoS has the advantage to be truly decentralized, other platforms use Delegated PoS, Proof-of-Authority or even convoluted combinations of PoS and BFT (Byzantine Fault Tolerance). We believe that there is no single blockchain that fits all applications, and the same goes for consensus algorithms. Maybe for certain applications like private blockchains, PoS is not the best fit, but for public networks like Nxt and Ardor, PoS has demonstrated to be a secure and reliable consensus algorithm.

ChangeHero: You have a global presence with good communities in Africa and Korea. Do you plan to expand to more Asian countries, especially to China with their government leaning towards blockchain technology?

FS: Yes, in fact we have a collaboration with a company in China that is helping us to reach the community there and we participate in standardization working groups in international organizations like the ITU (International Telecommunications Union) together with representatives of prominent Chinese companies. Unfortunately, the official position of the Chinese government right now is to favour permissioned blockchains instead of open public platforms like Ardor, Ignis and Nxt. In fact, we are in talks with China’s BSN blockchain initiative to include our technology stack there, but for the moment they are only open to do so for their international customers. Chinese companies will only have access to private blockchains without tokens, but hopefully this will change in the future.

ChangeHero: Lately, we find more and more financial firms looking towards the blockchain. Will we be able to see any partnerships with traditional banking firms in future?

FS: Traditional banking firms are years away to have a welcoming attitude towards cryptocurrencies. They are using internally permissioned blockchains for improving their own operations but anything open, public and transparent causes an allergic reaction in their management boards.

I am not sure if this is caused by fear from the regulatory bodies or because they believe they could lose their monopoly as custodians of people’s wealth or simply because their top management is happy with the current status quo.

The fact is that most brilliant professionals from the crypto space hired by the traditional banks leave their job after they work there for a couple of years, so probably the space will be disrupted by new players that are not afraid of embracing new business models, like it already happened in the music, publishing and entertainment industries. 

ChangeHero: At the moment, Jelurida appears to be a huge ecosystem. Do you have any plans to extend this? Would we be able to see new child chains or products from it in future? 

FS: The way our business model is conceived makes the initial development of the ecosystem slow, but once the number of child chains increases, there is snowball effect on all fronts: an increase in transaction fees in the network so the number of nodes increases, the return on our tokens investment goes up, the number of cryptocurrency exchanges that want to include our wallet increases to list the new child chain tokens, the number of developers familiarized with our API multiplies and thus that makes it easier for them to reuse their code for new dApps.

On September 22, we will have a hard fork to launch the new child chain token $GPS of Triffic App: a very amusing mobile application that will be used by retail stores to increase their traffic to their business. This kind of consumer-oriented app will be an incredible source of transactions for our network.

Of course, we have other child-chains in the pipeline that we will announce probably before the end of the year.

ChangeHero: Can you tell us about a tough day you had at work and how you pushed through it?

FS: We are a very well organized company and our management is very helpful when anything goes wrong so I cannot remember a day when things went out of control or I felt overwhelmed.

My only points of pain connected with my work in the company come from the community channels, where there are some individuals that do not care about the hard work we do at the company and they are only interested in the price of our tokens in the market. We are here for the long run and we will not participate in pump and dump schemes or artificially generating yield for our tokens coming from thin air.

ChangeHero: What is the work environment like? How would you describe the culture in the industry?

FS: I see a big divide between projects in the crypto space. There are projects led by reckless developers that do not care to dump their tokens or abandon the project right after they have collected enough money from their investors or they just become bored of it, and serious teams like ours, with a clear technical and commercial roadmap.

Probably, the best strategy to try to do a quick buck will be supporting those unstable projects and exit before the building crashes but if you care about revolutionizing the world through crypto and blockchain, it will take more than six months to achieve, so better be prepared to learn about the tech and team behind the tokens where you put your savings and do not watch CoinMarketCap every quarter of hour.

Rapid Round

ChangeHero: Pick one of the two options for each question.

ChangeHero: Build or Trade?

FS: No comment.

ChangeHero: PoW or PoS?

FS: PoS, of course, this is where people want to go and we have been there since 2013!

ChangeHero: Ardor or Nxt?

FS: Making me choose between Ardor, Nxt or Ignis is like asking me which of my three kids I love more.

Plans for the Future

ChangeHero: Ardor hardfork is scheduled for September 22. Will we see any significant changes in the chain? Please share with us a few of the exciting ones.

FS: The main change, as I mentioned before, is the activation of the GPS child chain for the Triffic App. I encourage everybody to download the App to their smartphone to find out how disruptive it is.

ChangeHero: What does the roadmap for Jelurida look like?

FS: We will publish an updated roadmap soon, please follow our communication channels for any updates.

ChangeHero: Finally, to wrap it up, where do you see the industry heading to?

FS: I see a convergence between cryptocurrencies and open blockchains with permissioned corporate frameworks. I see a world of different blockchain technologies applied to specific use cases talking to each other through interoperability standards, like the ones we are contributing to in different international working groups.

We would like to thank Francisco for taking his time and providing us with his valuable insights and honest opinions. We also wish Jelurida best of luck in developing their services, and will be looking forward to their next updates!

And we will be keeping you informed about the most interesting news and events in the crypto space through our blog and social media, so make sure to subscribe! Find ChangeHero on Twitter, Facebook, Reddit and Telegram.


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Author: changehero
September 21, 2020

Blockchain has not been just about distributed ledger technology for a long while. The platforms for developing applications on top of blockchain started to emerge as early as in 2013. Ardor is what stems from these pioneering currencies. And now, they are getting ready to take on Ethereum. What is Ardor, anyway, and why is […]

Blockchain has not been just about distributed ledger technology for a long while. The platforms for developing applications on top of blockchain started to emerge as early as in 2013. Ardor is what stems from these pioneering currencies. And now, they are getting ready to take on Ethereum. What is Ardor, anyway, and why is it competing with ETH all of a sudden? We look at the ARDR news and answer in this Beginner’s Guide.

What is Ardor?

Ardor logo
Source: The Cryptobase

Ever since Bitcoin gained popularity, the community understood that the blockchain technology can be applied to more than only transacting value. Thus, blockchains like Nxt started to emerge. However, even those early blockchain platforms have had some hurdles like blockchain bloat (the growing size of the ledger, which would make onboarding new nodes more problematic as the time passes) and dependency on a single token. Moreover, more recent projects that became popular as platforms for development of blockchain applications, especially Ethereum, did not even seek to solve these problems.

Ardor is a blockchain platform that is characterized by the parent-child chain architecture. This approach to the chain structure was made to solve the issues of scalability and flexibility: the parent Ardor chain secures the network and confirms the transactions made on individual child chains in bulk. It makes the platform suitable for enterprises and applicable to a variety of use cases.

How are they doing it? A bit later we answer this but first, what is Ardor’s history? And why is there so much Ardor news?

How did Ardor start?

Ardor was an offspring of another open-source blockchain project, Nxt, which started in 2013. A few years into its development, the group of Nxt developers with Lior Yaffe decided it is necessary to protect their intellectual property and secure funding. They established Jelurida Swiss SA, which Yaffe is still Director of. Today, Jelurida manages the development of Ardor, its first child chain, Ignis, and maintains Nxt.

In 2016, developers spilled the beans on news Ardor will become the Nxt 2.0. About a year and a half later, on the first day of 2018, the mainnet of Ardor with Ignis and some of its child chains was launched.

Now that we know what is Ardor’s beginnings, it is time for a closer look, why it was developed.

Under the Hood

Ardor was not built from scratch, but it used some code from Nxt that had been tested for three years by the time Ardor’s development started. The new iteration was deemed necessary to introduce a fundamental solution to blockchain bloat, as well as give the platform more flexibility.

So How Does Ardor Work?

Ardor sequence of events
Source: Ardor whitepaper

Simply put, the child chains process the main share of transactions on them. From a functional perspective, child chains are fully fledged blockchains on their own. Nodes confirm the transactions and bundle them into bulks. For that, a node gets rewarded in the child chain’s prospective token (Ignis, AEUR (Euro-pegged stablecoin) etc.). Then the bundle, which is essentially a child chain block, is broadcast to the parent chain forger. Forgers create blocks on the Ardor blockchain and get rewarded in ARDR crypto. From there on, a newly forged block, which includes all the transactions from the child chains, gets broadcast to nodes across the network.The entire process takes only a minute. 

What is Ardor’s Feature Choice?

  • Account based system lets a user have, for example, accounts (addresses) that can only be used for incoming transactions and do not authorise spending;
  • Since Ardor is a proof-of-stake blockchain, it has staking rewards, and users can lease their forging power to create forging pools akin to mining pools in PoW networks;
  • Ardor has an alias system, thanks to which not only addresses can be transformed into human-readable ones, but also the network can be used as a DNS or a cloud to store user-defined data;
  • Automated matchmaking engine and a native DEX;
  • Additional privacy through coin shuffling feature;
  • Lightweight smart contracts that do not require all the nodes on the network to process a smart contract call, only the ones that are involved in the transaction.

What is Ardor as Blockchain-as-a-Service?

Jelurida developed Ardor to become their Blockchain-as-a-Service (BaaS) flagship project. BaaS works pretty much like Software-as-a-Service: the company acts as a service provider to a renter or a partner which wishes to utilize the blockchain in their business but would rather outsource it. In this scenario, Jelurida acts like a web host and runs the backend side of an application they develop for their customers.

Other blockchains used in the BaaS solutions include Ethereum, Hyperledger and custom-made solutions.

Ethereum Blockchain as a Service, for example, is used on Microsoft Azure. It was developed by Microsoft in collaboration with ConsenSys. Ethereum blockchain was picked as it is a versatile platform that also has a reputation for it being a major player.

Amazon Web Services (AWS), in addition to Ethereum, offers Hyperledger Fabric. It’s a permissioned modular custom blockchain solution that is very similar to Ethereum: it has chaincodes, which serve the same purpose as smart contracts. Unlike Ethereum, Hyperledger has SDKs in Java, Go and Node.js.

Unlike Ethereum, Hyperledger and custom blockchains, Ardor supports hybrid permissionless/permissioned modes, as seen in Ignis. This allows for more accessibility for user-created child chains but also can make the structure more attractive to businesses or institutional partners who would like to have control over their child chain.

Another difference from Hyperledger and Corda is that Ardor has its own currency. What is Ardor as a currency? How to use it? Read in the following section.

What is ARDR Crypto?

Ardor (ARDR) took another step forward from Nxt and separated forging token and transactional token(s). ARDR determines forging stake (the right of an account to forge a new block). In the process of forging, no new ARDR are minted, so the rewards include only transaction fees. To be eligible, an account should have at least 1,000 ARDR on balance and stay online for no less than 24 hours.

ARDR Crypto Price

ARDR price chart
Source: CoinMarketCap

Prior to 1/1/2018, Ardor was in testing as a part of the Nxt blockchain. It still gathered some interest from investors and was traded on several exchanges. By the time ARDR crypto launched in full, the market was experiencing a peak of the bullish rally, and only two weeks after the official start of ARDR it cost the highest price to date — $2.55. From the sharpness of the spike on the graph above, we can certainly see that it was boosted by the ARDR news of the launch. Since 2018, it was rarely worth more than $0.12. At the moment of writing, a single ARDR is worth $0.061882. Its market capitalization is $61,819,960 (rank 130) and the supply is slightly below 1 billion coins (998,999,495 ARDR, to be exact).

What is Ardor’s Use Case?

As a BaaS project, Ardor relies on a variety of use cases and partners to flourish. At the Media and Arts Blockchain Conference in May, Jelurida showcased several use cases of Ardor, a couple of which was picked up by the Austrian government. HotCity initiative, for example, is an application that gamifies the process of waste heat mapping. It does so in a manner similar to other applications developed on Ardor, Triffic and Cycle4Value. These are AR-games that reward players with tokens for their mobility: players can collect tokens by simply moving around their area. In addition to these, there are trading card games like Tarasca, and social networks like ArdorRocks. These applications also get extensive coverage on Ardor news.

Another example of the collaboration between Jelurida and the Austrian government would be the QualiSig project. It came to be as a necessity in the COVID-19 pandemic, and the purpose of QualiSig is to establish communication between Austrian authorities, institutions and citizens in a secure and trustless manner.

Any Controversies Around It?

In ARDR news of May, 2019, it became known that it would be one of the currencies that get delisted from Poloniex in the US in May, 2019, due to its uncertain regulatory status. The exchange team deemed that under the SEC (Securities and Exchange Commission) guidelines ARDR crypto can be viewed as a security, and offering sales of a security not registered with SEC to the US citizens is an offense punishable by law.

According to the Howey Test, widely used to determine if an asset is a security or not, Ardor cannot be strictly defined as a security, because for an asset to be deemed a security, its value should only come from speculation or third party work. ARDR has utility in the ecosystem as a token to reward forgers in, and anyone can contribute to the network. The Howey Test that the US authorities still use to this day, even though it is almost a century-old case, comes from the times when cryptocurrencies were unheard of, so in this case it is a flawed metric.

What is Ardor’s future?

Partners

In addition to the already mentioned companies and institutions, Jelurida has several strategic partnerships. One of the examples of this would be the collaboration with Henkel, a German household goods giant. The Jelurida team shared their insights into blockchain technology with their IT specialists in a series of workshop meetings.

Hardfork to Ardor 2.3.2

For those who do not follow ARDR news, a scheduled network upgrade which is expected to happen at the end of September will activate a set of new features on the mainnet. What is Ardor 2.3.2? Namely, among the new features are zero fee child chain transactions, account modification to set the max fee to zero and discontinuation of the AEUR child chain. Pruning will get improved and the archive nodes that back up the pruned data will get bootstrapped. Also, the automated matchmaking engine for coin/token exchange will become active in this update.

Roadmap

For the future, the Ardor team of Jelurida has both short- and long-term goals. According to their roadmap, in the next updates users can expect advanced pruning of child chains and sharing of snapshots between nodes. At the same time, they are researching such things as IoT (Internet of Things) use cases, subnets, more privacy features, secure voting and more advanced cryptographic tools.

What Does Twitter Say?

The user @POSfan_78 who runs the Twitter account of Triffic app announced the news that with Ardor 2.3.2, Triffic will finally get a child chain of their own. For app users, it means the transactions will not require ARDR to pay for the forging fees. With this update, another ecosystem user gets closer to the vision of the developers of the network.

Lior Yaffe, the Director of Jelurida, naturally closely follows the news about the crypto space, and pays close attention to the development of Ethereum 2.0. His stance is, it will enter the competition without the first mover advantage it had in 2015. By now, there are many networks that fulfill the premise of blockchain development platform running on proof-of-stake better than Ethereum 2.0 at this point seems to do.

Of course, Ardor would not stay out of the loop and ignore the recent surge in the popularity of decentralized finance. The vector Jelurida seems to be taking is to promote the Ardor platform as an alternative to Ethereum, which for now dominates the DeFi sector but also severely suffers from periods of network congestion and high fees as a result.

The official account reported the Ardor news about a hackathon-winning project: IGNIS gift cards redeemable by any ARDR user. This is possible thanks to the smart contract functionality and the interoperability the Ardor parent chain provides.

How to Buy and Sell ARDR?

Ardor is traded on a variety of exchanges like Binance, Huobi and OKEx. However, this option would suit more advanced users who are familiar with the process of trading. If you do not want the hassle of registering, depositing funds, matching orders and all this headache, why not purchase some ARDR with other cryptocurrencies supported by ChangeHero? It is fast, easy (more on that a bit later in the article!), reliable and secure. We do the searching of the best rates and order matching ourselves, so you don’t have to worry about anything.

Where to Store ARDR?

There are a few options of software wallets that support Ardor, for example, Freewallet, Jaxx and Mycelium. However, it is advisable to use the official Ardor wallet developed by Jelurida. With it, you can fund your ARDR account with any cryptocurrency supported by ChangeHero and swap it — because the official Ardor wallet supports ChangeHero’s API to help onboard the new users.

How to Exchange ARDR?

As promised, here’s the quick process of buying Ardor on ChangeHero — it’s so easy!

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your ARDR wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. For  Fixed Rate transactions you have 15 minutes before it expires;
  4. From here on, you won’t need to do anything. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your ARDR is on the way to your wallet. And so, the transaction is finished!

Our support team is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

Ardor might as well be the dark horse on the market: it can do everything Ethereum does, but has even more features that the latter lacks. Blockchain-as-a-Service? Decentralized finance? All the relevant use cases seem to be covered. Before long, the crypto community will know what Ardor is.

If you enjoyed this article, make sure to check out our blog and social networks for content and news: find us on Twitter, Facebook, Reddit and Telegram.


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Author: changehero
September 19, 2020

Некоторое время назад стало известно о прекращении работы над проектом TON. Павел Дуров заявил об отказе Telegram от разработок, при этом не поддержав развитие альтернативных сетей на базе блокчейна. Разбираемся, чем мог запомниться TON, если бы запуск не отменили, а также почему free TON — не то же самое? Что такое TON?  TON (Telegram Open […]

проект ton

Некоторое время назад стало известно о прекращении работы над проектом TON. Павел Дуров заявил об отказе Telegram от разработок, при этом не поддержав развитие альтернативных сетей на базе блокчейна. Разбираемся, чем мог запомниться TON, если бы запуск не отменили, а также почему free TON — не то же самое?

Что такое TON? 

TON (Telegram Open Network) анонимная пиринговая сеть, защищенная встроенным прокси. Для проведения транзакций в блокчейне TON существуют криптовалюта Gram. Разработчики стремились добиться использования Gram не только в качестве валюты для инвестиций, как они видели это в биткоине или эфире. Их целью было сделать первую “настоящую” криптовалюту, способную быть полноценным платежным средством. При этом, smart-контракты в TON существуют не только для подтверждения транзакций, но и позволяют в электронном виде оформить любые договоры и условия по сделке.
Целью TON было превзойти существующие блокчейны по скорости транзакций и масштабу проекта. Разработчики планировали использовать алгоритм консенсуса Proof-of-Stake и интеллектуальную маршрутизацию, чтобы этого достичь. Когда нагрузка на один из узлов становится слишком большой, данные автоматически дробятся и распределяются по остальным узлам.
По официальным данным разработка продолжалась два с половиной года, и презентация TON должна была произойти в октябре 2019. В сентябре того же года Telegram представили пробный упрощенный вариант платформы. Он позволяет пользователям подключиться к узлу для тестирования работы проекта, а также создавать собственные узлы.
Несмотря на готовность TON к запуску, SEC (Комиссия по ценным бумагам США) запретила работу блокчейна на территории Америки, тем самым поставив крест на будущем проекта. Такое решение было принято американским судом по обвинению в мошенничестве с ценными бумагами, которыми признали токены Gram.

История проекта TON

В основу TON заложены проекты, которые должны поддерживать работу платформы. Подробная функция каждого внутреннего проекта описана в документации, но мы представим вам самые важные:
 

  • Telegram Passport сервис по прохождению быстрой верификации. Пользователь в системе на блокчейне TON является единственным обладателем личного ключа шифрования и может добровольно предоставлять данные только нужным компаниям.
  • TON Services — особая инфраструктура, позволяющая создавать внутри платформы программы, похожие по структуре на веб-сайты, защищенные от внешней цензуры.
  • TON Payments — ключевой сервис платформы с собственной криптовалютой. Его цель — обеспечивать мгновенные денежные переводы без комиссии внутри TON.
  • TON Virtual Machine сервис, который делает возможным автоматизированное заключение договоров между пользователями внутри платформы. Обработкой договоров также занимается виртуальная машина. 
  • TON Proxy — внутренний сервис для обхода блокировок в сети, позволяющий пользователям платформы получать доступ к блокчейну TON без ограничений.
  • TON DNS — каталог уникальных доменов,  при помощи которого станет возможным регистрация и поиск нужных сервисов.

 
Планировалось, что блоки в TON будут собираться автоматически, что в свою очередь повлияет на скорость их создания, а значит и на стоимость транзакций. 
Участники платформы TON смогут самостоятельно создавать узлы в системе блокчейна: руководство по самостоятельному созданию узла размещено на официальном сайте проекта и доступно всем пользователям. 
Для пользователей TON Proxy предусматривается монетизированная система эксплуатации. Те пользователи, которые будут принимать внешний трафик сети TON на себя, будут получать оплату в Gram за вывод других пользователей в систему через VPN. Работает и обратная схема: если вы хотите только использовать внешний трафик TON Proxy, вам нужно будет оплачивать его внутренней валютой. Эта система может использоваться для анонимного посещения сайтов.
Работа TON планировалась в двух вариантах — мобильном приложении и внутри мессенджера Telegram. При этом обновления выходили бы независимо от мобильных маркетов, внутри самой системы. Интересно также, что архитектура TON позволяла бы интегрировать приложения сторонних производителей (мессенджеры, соцсети) без лишних сложностей.

Преимущество TON над другими блокчейнами

У Павла и Николая Дуровых были серьезные планы на работу блокчейна TON и криптовалюты Gram. В своих разработках они делали упор на следующие преимущества перед другими платформами:

  • обмен сообщениями внутри блокчейна;
  • быстрый процессинг платежей;
  • возможность выбора приложений с Proxy для обхода блокировок;
  • возможность участвовать в хранении файлов (принцип работы похож на Torrent-сети), где в качестве благодарности вы получите вознаграждение в Gram;
  • поскольку TON создан на базе Telegram, продукт заранее имеет большую аудиторию;
  • количество валидаторов (узлов) строго ограничено — на начальном этапе их планировалось 100, с дальнейшим увеличением до 1000.

Стоит отметить, что узлы-валидаторы должны были выбираться раз в месяц при помощи автоматизированной системы. Из пользователей, отправивших взносы на специальный смарт-контракт, отбираются в основном те, у кого бóльшее количество Gram на счете.
Среди преимуществ также выделяется встроенная защита от DDoS-атак за счет балансировки нагрузки. При перегрузке каналов TON Proxy автоматически сменил бы маршрутизацию. Это позволит пользователям не опасаться возможного срыва транзакции.

Криптовалюта Gram

Gram — анонсированная криптовалюта блокчейн-платформы TON. Одним из основных преимуществ предполагалось, что скорость транзакций составит несколько миллионов в секунду. Сами же разработчики заявляли, что благодаря Gram TON может стать аналогом Visa и Mastercard (скорость транзакций которых около 60 тыс. в секунду).
Добыть криптовалюту при помощи майнинга невозможно, так как выпуск новых Gram осуществляют валидаторы. Чтобы стать валидатором, пользователю необходимо иметь сервер с высокой производительностью и доступ к быстрому интернету.

Судьба проекта

Несмотря на усилия разработчиков, возможность существования проекта неоднократно ставилась под вопрос. TON воспринимался критиками неоднозначно, но практически с момента задумки смог привлечь внимание криптовалютных инвесторов. Давайте вспомним, какие события определили судьбу проекта и что говорят создатели о будущем платформы TON.

Крупные инвестиции

В 2017 году бывший сотрудник Telegram Антон Розенберг рассказал о планах Павла Дурова создать собственную криптовалюту. Практически сразу после подтверждений самого Дурова, стало известно о привлечении большого количества инвестиционных средств. Первый этап ICO (с англ. “первичное предложение монет”) привлек 850 миллионов долларов, что позволило наконец всерьез заняться разработками платформы. Второй этап привлек в компанию еще больше: 1,7 миллиардов долларов. Перед третьим этапом Дуров отклонил огромное количество заявок инвесторов — необходимые средства были собраны, а себестоимость проекта оценивалась всего в 400 миллионов долларов. 
Стоит добавить, что далеко не все положительно отнеслись к идее запуска блокчейна TON. Мнения разделились, эксперты вроде Чарльза Нойеса (представитель фонда Pantera Capital) или Спенсер Богарт (партнер Blockchain Capital) высказывались против инвестиций в разработки TON и даже называли его “самым крупным мыльным пузырем в истории венчурного бизнеса”.
В марте 2018 года инвесторам TON был разослан документ, который получил название «Определенные риски, связанные с покупкой, продажей и использованием Gram». В том числе речь шла о рисках при правовом регулировании Gram законодательством США, поскольку позиция криптовалюты была неопределенной.

Судебный запрет

11 октября 2019 года SEC подала заявление в суд. В претензии говорилось, что создатели Telegram незаконно распространяют цифровые токены, даже не прошедшие регистрацию. 
Чтобы разобраться в причине конфликта, достаточно изучить позиции сторон. Павел Дуров, на допросе по ходу следствия, рассказал: токены Gram разрабатываются исключительно как цифровая валюта, а большое количество инвестиций требуется для закупки оборудования и поддержания работы сети. Комиссия по ценным бумагам США, в свою очередь, заявила, что создатели и разработчики TON знали о спекуляциях и рассчитывали заработать на перепродаже монет.
24 марта 2020 года Нью-Йоркский суд вынес приговор: токены Gram признали ценными бумагами и запретили передавать их покупателям и инвесторам. В решении суда говорится, что «на основании теста Хоуи, определяющего, является ли нечто ценной бумагой, SEC доказала, что нынешний план Telegram по распространению Gram — это предложение ценных бумаг».
Американский суд запретил выпуск токенов не только на территории США, но и во всем мире — по их мнению это необходимо для того, чтобы американцы не могли обойти блокировку по стране и приобрести валюту.

Новости о закрытии проекта

12 мая в своем Telegram-канале Павел Дуров официально подтвердил прекращение блокчейн-проекта.
Помимо рассуждений о причине судебного решения, Павел высказался по поводу выхода Telegram из разработки блокчейна, а также предостерег от вложения в проекты, использующие в названии “TON”: 

Я пишу этот пост, чтобы официально объявить, что активное участие Telegram в TON закончено. Вы можете видеть, или возможно уже видели, сайты, использующие мое имя, бренд Telegram или аббревиатуру «TON» для продвижения своих проектов. Не доверяйте им ваши деньги или данные. Ни один из присутствующих или бывших членов нашей команды не участвует ни в одном из этих проектов. Хотя сети, основанные на технологии, которую мы создали для TON, могут появиться, мы не будем иметь к ним никакого отношения и вряд ли когда-либо поддержим их. Так что будьте осторожны, и не позволяйте никому вводить вас в заблуждение.”

История Free TON: чего ожидать?

В начале мая стало известно о запуске независимой блокчейн-платформы Free TON. Ее протокол основан на наработках TON, а в качестве внутренней валюты установлены TON Crystal (TON).
Создатели и участники Free TON (в их числе TON Labs, P2P.org, основатель ForkLog Анатолий Каплан и многие другие) подписывают декларацию на сайте проекта. Все подписавшие документ обязаны поддерживать максимальную децентрализацию по основным пунктам.  Декларацию запрещается подписывать резидентам США. 
Запуск новой платформы планируется в три этапа:

  1. На первом этапе разработчики смогут вносить изменения в конфигурацию сети, но вводится таймер — чтобы обозначить момент, когда эта возможность пропадет. Также  будут написаны контракты, позволяющие пользователям управлять сетью.
  2. На втором этапе контроль над процессами конфигурации внутри сети полностью переходит к валидаторам.
  3. К третьему этапу предполагается наличие достаточного количества валидаторов и пулов, чтобы блокчейн стал полностью децентрализованным.

Создатели Free TON заявили, что в их цели входит предложить разработчикам оригинального протокола участвовать в работе сети после того, как это будет одобрено судом. И несмотря на отказ от поддержки со стороны Павла Дурова, пользователи с интересом наблюдают за развитием проекта free TON. Также, пока неизвестно, будет ли новый Free TON интегрирован в Telegram.
Распределение монет TON планируется следующим образом:

  • монеты внутри генезис-блока планируется разделить между контрактами-дарителями — они не будут участвовать в голосовании или стейкинге (удержании монет в кошельке для получения права участвовать в добыче криптовалюты и получать прибыль). Такие контракты необходимы для автоматического распределения монет. На сегодняшний день известно о трех дарителях: Referral Give (85% токенов), Developer Giver (10% токенов) и Validator Giver (5% токенов).
  • дальнейшее решение по распределению монет будет приниматься голосованием при помощи механизма Soft Majority Voting держателями криптовалюты TON.

В заключение

К сожалению, создатели блокчейна TON так и не смогли доказать правомерность проекта SEC и суду. Теперь, после официального прекращения работы над TON, нам остается только предполагать, удалось бы разработчикам воплотить все задумки в реальность. В любом случае, история TON интересна многим — это могла бы быть очень перспективная блокчейн-платформа, доступная всем.
На сегодняшний день внимание приковано к Free TON. Неизвестно, смогут ли они реализовать протокол оригинального TON, однако, перспективы этого блокчейна при должной поддержке очень велики.
А пока вы, как и мы, ждете новостей — обратите внимание на доступные к обмену прямо сейчас криптовалюты. С сервисом ChangeHero вы можете совершать обмен, покупать и продавать монеты с высокой скоростью и по выгодному курсу.
Если вы хотите узнать больше информации о криптовалютах и блокчейне, читайте наш блог! Мы регулярно публикуем интересные и информативные статьи.

Author: changehero
September 18, 2020

Our weekly crypto digest is here! ChangeHero team is going to give you a brief update on our progress before looking at the hottest crypto news and stories from Twitter, as well as price change of top cryptocurrencies. ChangeHero Updates: New Tokens This week we enabled three new currencies on ChangeHero: Basic Attention Token (BAT). […]

Crypto Digest by ChangeHero

Our weekly crypto digest is here! ChangeHero team is going to give you a brief update on our progress before looking at the hottest crypto news and stories from Twitter, as well as price change of top cryptocurrencies.

ChangeHero Updates: New Tokens

This week we enabled three new currencies on ChangeHero:

  • Basic Attention Token (BAT). While it was available for purchase and selling with fiat currencies, it is now available for trading against all the assets supported on ChangeHero;
  • Populous Protocol Token (PPT). It powers a platform that connects invoice sellers with enterprise clients;
  • Augur (REPv2). This Ethereum token powers the Augur prediction market, and recently has been upgraded to v2.

They are now available to all users and can be traded against any other currency supported by ChangeHero.

Next, we will cover the most interesting news from the world of crypto in a short crypto digest.

Latest Crypto News Highlights

Bitcoin News

  • On Wednesday, Bitcoin was trading at $11,000 mark for the first time in two weeks;
  • This is at the same time the Bitcoin futures volume on an institutional exchange Bakkt hit a new record. This indicates the growth of interest from institutional investors and large enterprises.

Blockchain & Tech News

  • A pull request to start migration to Ethereum 2.0 has been submitted to the official repository. This means that as soon as the rest of the core developer group approves this pull request, Phase 0 of Ethereum 2.0 which introduces the Proof-of-Stake will be ready to hit mainnet.

News on Crypto Adoption

Number of crypto ATMs in the world by month.
Source: Statista
  • Bitcoin and crypto ATMs worldwide exceeded 10,000 units; 
  • Kraken received a banking license in the state of Wyoming, US. This will help them to set a precedent and pve the way for other enterprises to provide the same services legally;
  • The Bahamas are ready to launch their CBDC as soon as in October. The “Sand Dollars” will be pegged to the Bahamas dollar 1:1, like most popular stablecoins. This will become the first nationwide official launch of a CBDC in the entire world.

DeFi News

Hourly transaction fees in ETH (USD).
Source: Glassnode
  • Uniswap launched the UNI governance token. Within hours, it drove the transaction fees on Ethereum to a new record (700 Gwei, chart above). Now it is already one of the Top-30 assets in the CoinMarketCap rating.

Lots of stories and news start on Twitter. What was Crypto Twitter talking about this week? See in the following section of our crypto digest.

Crypto News from Twitter

Chef Nomi, developer of Sushiswap, returned the assets they sold upon ceding the overseeing position in the project. Previously we reported on the outcry that their act caused, which could have even resulted in legal action. However, Chef Nomi proved to be the person who knows how to be accountable.

Gene Simmons of the legendary rock band Kiss just tweeted this this Tuesday. Needless to say, Crypto Twitter got hyped?

Oh, by the way, if you needed more proof that Crypto Twitter can be crazy sometimes: after Vitalik Buterin tweeted this on Saturday, Pickle.finance actually pumped 1800% from $4.41 to $85.24 by Monday. This is not the first time a similar thing happened: in 2017 social network users spotted an OmiseGO sticker on Vitalik’s laptop and the consequences were pretty much the same.

Another development in a story from the previous week: a user sent approximately $1 million USD to a contract address of Swerve protocol. Three days later, Tether managed to reimburse the user. Love it or hate it, Tether did something that wouldn’t have been possible in other blockchains for various reasons.

Recap on 7d Market Change

At the moment of writing, the market’s dynamics for the last 7 days are the following:

  • Total Market Cap: $338,611,291,090 (-0.32%); 
  • BTC Dominance: 59.96% (was 56.8%).

ChangeHero Top-10 7d Change

Crypto 7D price change
Source: coin360.com

This week, the gainers and losers in the top-10 were split halfway: the top-5 is trading in the green, the other half — in red. In our top-10 we included cryptocurrencies that can be exchanged on ChangeHero. You can buy and sell some of them with your credit card, too. At the moment of writing, the 7-day change of the top currencies is the following:

ChangeHero Gainers of the Week

At the time of writing this crypto digest, the top three are:

  • Binance Coin (BNB) $27.48 (↑19.00%);
  • OKB (OKB) $6.21 (↑15.12%);
  • Monero (XMR) $94.47 (↑11.90%).

Round-up

Those were the most important and interesting crypto news for the past 7 days. As always, we will keep watching the news and provide our insights on our blog, and you can see them on our social media pages too: Twitter, Facebook, Reddit or Telegram.


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Author: changehero
September 18, 2020

The topic of cryptocurrency regulation is indeed a hot and a controversial one. On the one hand, establishing the rules and protecting the rights of crypto users is the key to adoption of cryptocurrency for its intended use, and the best crypto exchange is a regulated and overseen one. On the other hand, crypto was […]

crypto laws in different countries

The topic of cryptocurrency regulation is indeed a hot and a controversial one. On the one hand, establishing the rules and protecting the rights of crypto users is the key to adoption of cryptocurrency for its intended use, and the best crypto exchange is a regulated and overseen one. On the other hand, crypto was born out of protest against incompetent regulation of the existing financial system and is valued by anarchists and libertarians for that very reason. These people might say that the best Bitcoin exchange will happen on the terms of the participating sides, and no one else. 

Countries with Restrictions on Crypto

These days, cryptocurrencies are not as a new and alien concept as they were several years ago, so more and more attempts to regulate this sphere emerge, each more comprehensive than the last. That is, if the authorized entities choose an open-minded approach to begin with. To this day, there are quite a few countries with restrictive frameworks regarding cryptocurrencies.

Iran

A young man using a computer
Source: @alireza_attari on Unsplash

Iran has a muddled history with the laws regulating cryptocurrencies and mining. In 2018, operations with cryptocurrencies were prohibited to the financial institutions and banks, and the possibilities of crypto exchanges to sell crypto to users were under a crackdown. Mining, however, was recognized as an industrial activity (not to force the active farms to shut down), but the requirement to register with the government became effective the next year. Not all miners managed to get a license, and as a result, “illegal” mining farms were seeked out and shut down.

Iran does not have the highest degree of adoption of cryptocurrencies in the world, but admittedly, there is a bustling community of enthusiasts. For that reason, the best Bitcoin exchange for Iranians is P2P platforms like Localbitcoins. That is, if they don’t mind the risk of entrusting the purchase to another person. Alternatively, instant crypto exchange is an option.

Crypto enthusiasts also participate in the development of a more liberal regulatory framework by suggesting their insight into the new technology which the higher-ups just do not seem to comprehend entirely. Iran has a good reason to be looking into cryptocurrencies, as they are subject to the US and EU sanctions, and the borderless nature of digital assets might bolster their “resistance economy”.

Russia

Moscow skyline
Source: @serge_k on Unsplash

Russia at the moment is also seeking to amend a recent set of laws passed at the end of July. From all points of view, it seems to be a backwards move: in addition to restricting the miners from mining for profit, the new framework intends to limit the scope of use and acceptance of digital currencies and prohibit the issuance and circulation of digital assets on Russian territory. The sites that promote purchase of cryptocurrencies already got banned.

These laws leave the Russian crypto-community and more savvy legal professionals puzzled. How are the miners supposed to circumvent the fact that a reward is not paid out by a single entity but is hard-coded into the process? Why is the number of accepted uses for digital currencies so limited and specific? Why drive miners away from the regulated economy? As half-baked this law is, it must have a reason behind it. One of the possible motivations is to prevent capital from bleeding out abroad.

Unlike Iran, Russia has a much higher degree of adoption of cryptocurrencies, according to the latest Chainalysis report. There are a few options for the best crypto exchange like Currency.com, but it is not regulated, and under the new law might not even operate in Russia. Instant crypto exchanges are more popular there, since often they do not impose identification procedures on customers and are anonymous.

China

Tall buildings in China
Source: @hannynaibaho on Unsplash

Most notably, of course, cryptocurrencies and dedicated exchanges are officially banned in China. At the same time, China is responsible for a lion’s share of Bitcoin’s hashrate and is extensively testing their own Central Bank-issued Digital Currency (CBDC) — the famous “digital yuan”. It is possible thanks to their stance that blockchain is a technology of value and deserves official recognition and support, but not cryptocurrencies that come with it. This is not a secret that in reality, China has a high degree of crypto adoption: some of the exchanges that were previously based in China just changed jurisdictions and Chinese yuan sees a lot of volume on P2P exchanges.

A possible explanation for such difference in views to blockchain and cryptocurrencies might be in protectionist policies: the Chinese government has much more interest in seeing their CBDC universally used instead of anonymous and decentralized cryptocurrencies. It is possible that the digital yuan indeed will be more common, but it is extremely unlikely that it will replace uncensorable currencies entirely.

Countries with Favorable Crypto Laws

Switzerland

village side in Switzerland
Source: @timmeyer on Unsplash

It’s important to note that the previously mentioned countries seem to realize the potential of blockchain and cryptocurrencies. Some other countries choose to create the conditions to help the businesses in this area grow and help the economy innovate from the ground up. One of such notable examples is Switzerland. One of its cantons, Zug, is even dubbed “crypto valley” for the favorable conditions the local legislation creates for such enterprises, from ICOs to instant crypto exchanges. Starting from 2021, Zug will even allow taxes to be paid with Bitcoin and Ether, which will be handled by Bitcoin Suisse, a company that started in the same place seven years ago. Blockchain is already a familiar subject for the Zug authorities, because their e-government platform has blockchain functionality for digital ID.

Japan

A road in Japan
Source: @notethanun on Unsplash

A more strict but a very regulated place for crypto is Japan. The hacks of Mt.Gox and Coincheck served as a lesson to thoroughly plan all the details of the framework. Exchanges that provide their services to Japanese citizens are required to be licensed by the government and use certified crypto-asset custodians. The Japan Virtual Currency Exchange Association is recognized as a both self-regulating organization and a valuable collaborator in keeping the legal framework up-to-date, and the security token offerings are overlooked by a similar association of Japanese STO-related businesses. More scrutiny means less businesses get the chance to operate but at the same time there is more certainty in the reputation of a business that has passed the strict selection. Needless to say that KYC and AML procedures are a must for a regulated exchange.

Singapore

tall building in Singapore
Source: @desalaberry on Unsplash

Another country from the neighboring region regarded as a “cryptohaven” is Singapore. All kinds of fintech businesses, including blockchain and cryptocurrency enterprises, are overseen by the Monetary Authority of Singapore (MAS), but with plenty of space to operate in a legal and regulated manner. The cryptocurrencies themselves are not included in the legal context, but the businesses that offer ICOs or exchanges are. Crypto companies and miners are even taxed in cryptocurrencies, if their profit comes in the form of crypto or digital currencies. MAS also requires every licensed business to be AML/CFT compliant, so there will be little to no repercussions for using the best Bitcoin exchange based in Singapore.

ChangeHero — Legal and Safe Instant Crypto Exchange

Based in Hong Kong, which also has the reputation of a crypto-friendly country, is an AML-compliant instant crypto exchange. On our platform users can safely and securely exchange supported cryptocurrencies and make purchases with fiat currencies from trusted partners. ChangeHero offers the most competitive rates on the market from several established liquidity providers for top-notch reliability and lowest fees. While we do not enforce Know-your-customer (KYC) procedure on all exchanges, in some cases an algorithm that checks the parameters of the transaction can flag it as suspicious. Should this occur, our support staff will help you through the KYC and assist any time, any day.

Summary

The bottom line is, regulation is a vital part of making worldwide adoption of cryptocurrencies happen. The confidence and fairness to all the participants on the market will raise the public’s trust in this new economic phenomenon. Who should regulate the crypto market is a whole separate debate, but the fact that the future when the whole crypto space is not a Wild West anymore is not far beyond the horizon.

Until then, stay tuned to the news, updates and informative content on ChangeHero Blog and follow us 0n social media: we have pages on Twitter, Facebook, Reddit and a Telegram channel.


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