General Market Outlook
Bitcoin price is sitting at $7,370 representing a loss of 1% in the last 24 hours. Ethereum price is sitting at $555 representing a loss of 0.7% in the last 24 hours. However, the overall cryptocurrency market cap jumped from $305 billion to $321 billion, and some sources are calling this the bull reversal, however indicators are not truly that strong. The Buy Markets Percentage that signaled the last reversal in March came at 4.29%, which is the same percent that data point is on at this time.
New IOTA mobile wallet is more than customer-centric
The IOTA Foundation now has a more “user-friendly” mobile wallet. IOTA didn’t have to do very much to get this project off the ground - the wallet is also user/community-developed as well. The community did such a good job with the programming that “Trinity” was adopted by the IOTA Foundation in order to provide assurance to the wider community that the wallet is safe to use, and as free from the threat of user error as possible. To make this happen, they gave the programming two external reviews, a threat modelling exercise and a security audit, to ensure maximum security for our users. The adoption is more of a relationship between the IOTA foundation and the community, rather than a takeover. They still work closely with their community to perfect the wallet.
Among all the other hype, Bitcoin is still being developed
People talk about the downfalls of Bitcoin as if the tech community is blind to it. In reality, there are people out there still making strides to keep it relevant. A new layer has been proposed to improve upon the Lightning Network - “eltoo.” It was only in March this year that the Lightning Network was deployed on the Bitcoin Blockchain, and we already have a fully developed whitepaper explaining big improvements. The Lightning Network allows people to transact instantaneously and reduce transaction fees by keeping them off the main network. This new proposal addresses the problems with how much data the Bitcoin network takes up on a user’s computer, as well as improving user wallet security. It is designed for mobile wallet to store only the most recent transactions.
Finding loopholes to quietly increase user adoption
The company that holds 96% of the Korean messenger app market is now working on blockchain applications - similarly to Telegram’s coming token. The solution is fairly simple. Millions of people are already using certain apps. A big network exists and just needs a cryptocurrency to be integrated. Messenger services have an advantage since they already have an established user base. Kakao is primarily used for messaging, but has more functions than something like Telegram. Their new blockchain division “Ground X” will be integrating blockchain tech a little differently as well, both for technical reasons and the fact that ICOS were banned in Korea. However a proposal to lift this ban has been announced as well.
Top 5 Gainers
Version (V) +128.88% at $0.006833
Indicoin (INDI) +119.89% at $0.041152
Arbitracoin (ATC) +95.22% at $0.013889
EXRNchain (EXRN) +89.38% at $0.000144
Rupaya (RUPX) +69.27% at $0.108410
Top 5 Losers
Bastonet (BSN) -93.94% at $0.000147
Fitrova (FRV) -83.79% at $0.000152
Titanium BAR (TBAR) -65.27% at $0.036991
BelugaPay (BBI) -37.74% at $0.305531
Transcodium (TNS) -35.12% at $0.067428
New Coins Listed
Loki (LOKI) listed to Cryptopia
Mobius (MOBI) listed to KuCoin
Odyssey (OCN) listed to Bittrex
By: BGN Editorial Staff