Here are the most important crypto news of December 11th, 2018:
Cardano (ADA) Blockchain Now Have Two New Smart Contracts Tools Developed by IOHK
IOHK, the blockchain research and development firm, announced on December 11th 2018 the launch of two new tools for Cardano (ADA). These two tools will be used to write smart contacts for the Cardano blockchain and they’re named : Plutus and Marlowe. Right now, these are just in the testing phase.The main purpose of these would be to help start-up, financial services and others to create smart contracts for the Cardano network.
Plutus offers a general purpose programming language and tools for Cardano. The scientists from IOHK have combined the logic of Haskell with Cardano to create a way for fintech developer to write secure smart contracts. To test it, they’ve created Plutus Playground. Plutus Playground is an easy-to-use tool for development and testing environment tool. Afterwards, these contracts can be deployed to the blockcahin itself.
For people less familiar with programming, there’s Marlowe. Marlowe is an easy way to generate code and create software products. Its purpose is to help financial institutions to create their own smart contract or ‘automated financial contracts’ without the hustle of programming. IOHK’s CEO, Charles Hoskinson, declared:
“We’re really excited to release testbeds of Plutus and Marlowe so developers, finance professionals, and academics can test how they can use smart contracts on Cardano. Both technologies are a major step forward for the blockchain industry. They have been rigorously designed by a team of leading experts in programming language design, with the aim of reducing the kinds of software bugs that have led to huge losses totaling hundreds of millions of dollars.”
Moreover, Philip Wadler, Area Leader for Programming Languages at IOHK commented:
Using these two tools, Cardano creates and easier way to create your own smart contracts. These would play a pivotal role in the launch of the decentralized network in 2019.
Stock Trading On Over 100 Markets With Bitcoin is Now Possible
WCX, a recently launched trading platform, allows users to go short or long on 100+ markets by using Bitcoin. The platform was created by Amatsu Soyonobu, an ex-Apple software manager and quantitative financier. Alongside with Tagawa Hayashida, they founded WCX – the trading platform that let regular people trade on global financial markets by using only Bitcoin. Since their launch in 2018, October – WCX managed to get over 125,000 traders from 189 countries with a notional trading volume of more than $1 billion.
“Think of us as a stock brokerage, except instead of depositing fiat, you deposit Bitcoin,”
WCX have a wide variety of markets, such as EUR/USD, Tesla stocks, Gold and some of the most popular crypto markets: BTC/USD and ETH/USD. You can trade on any of them using BTC as collateral.
“There’s obviously something here. People love how easy and fast it is to trade using Bitcoin rather than non-programmable money like the dollar,”
He also states that one of the biggest benefits of the WCX is that using Bitcoin instead of FIAT – the costs are highly reduced :
“We can offer 0% fees on deposits, withdrawals, and trades because we said no to fiat. We consider Bitcoin our competitive advantage.”
To trade on WCX, you need to comply with KYC laws as they’re a Swiss company. The platform have a great security and declares that 98% of the funds are in ‘cold offline wallets’ :
“Security is our top priority. We use the most tested and secure wallet architecture, which includes cold/hot wallet segregation. We keep 98% of customer funds in cold offline wallets, out of reach from attackers. Hot wallets are used to process withdrawals quickly. They’re protected with state of the art security and insured against theft.”
This new way of trading could help people profit even on the continuous bear market from the cryptocurrency industry. Its a great idea and the feedback from the users was extremely positive according to Mr. Soyonobu.
You Can Now Spend Crypto on Gift Cards With Coinbase
As the holidays season is close, Coinbase decided that there’s no better way to celebrate it than with 12 days of announcements. There will be 12 big updates from which the users could benefit. Due to the fact that most of their customers wanted to do more with cryptocurrency, Coinbase prepared a surprise for the community – 12 days full of announcements. The first announcement came Monday 10th December .
Starting December 10th 2018, e-gift cards are now available to buy using WeGift’s program. To do so, you need to link your Coinbase wallet with your WeGift account and you can immediately purchase e-gift cards with crypto. There are over a dozen of e-gift cards there from companies like Uber, Nike and way many more. Users purchasing e-gift cards will have a 0 withdrawal fees for purchasing e-gift cards and bonuses of up to 10% on a few vendors.
It appears that the announcement with the next cryptocurrencies Coinbase is ‘exploring’ was not the biggest one for this year. Let’s see what else does Coinbase have under the tree.
Diar’s Weekly Issue 48 – Bitfinex,Binance, Bitcoin Trading and More
Diar, a leading research unit in the cryptocurrency ecosystem, has recently launched the Volume 2 Issue 48 part. In their analysis, they noted that Bitcoin trading volumes have taken a hit across major token exchanges over the course of 2018.”. Binance for example, which used to dominate the crypto trading scene, now accounts only for 32% of the BTC/USD(T) market volume. Compared to June’s 47%, that’s a high decrease in trading activities.
Binance wasn’t the only one that ‘suffered’ from the bear market. Bitfinex also saw its BTC/USD market at an even worse decline. Right now, Bitfinex trade 27% of the BTC/USD’s total volume. Back at the end of 2017, Bitfinex was responsible for 51% of the trading volume of the BTC/USD pair. The most probably factor that lead to this decrease can possible be the Tether scandal.
Moreover, Bittrex and Poloniex saw even larger losses since 2017. The past leaders of the cryptocurrency exchanges are now only accounting for 2.7% of BTC’s trading volumes. The biggest winner this year was OkEx, which saw a 6x market share increase since January.
For more details about this, you can check Diar.co Volume 2 Issue 48
Other Cryptourrency News
- The Bear Market 2018 – 83 Projects in Numbers from
#Rekt to least #Rekt
- 4 Lessons from the Biggest Cryptocurrency Scams of 2018
- British MP Opens Possibilities Of Tax Payments in Bitcoin
- Coinone Hops on the Ripple Bandwagon
- Japanese politician proposes relaxing crypto laws to boost adoption
If you’re missed yesterday’ news, you can read them here: Daily Cryptocurrency News – 10th December 2018
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