Daily Cryptocurrency News – 29th November 2018

Here are the most important cryptocurrency news of November 29th 2018:

Bitcoin Will Soon Be Accepted In Multiple Jewelry Shops Across Canada 

Even if the price seems to remain on the $4,000 range, the Bitcoin adoption is slowly increasing. This time, Birks Group – a Canadian jewelry brand, announced that they will accept Bitcoin in their stores. The news were first reported by BusinessWire, and speaks how Birks Group will start accepting Bitcoin payments by working with BitPay:

It is of great significance to Birks Group to launch BitPay. As an internationally growing brand, we believe that BitPay will benefit our customers as we look to align ourselves with these innovative capabilities that are on the forefront of technology.

BitPay’s CCO, Sonny Singh hopes that the new brand direction will lead to an inrease in customers:

Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense. Accepting bitcoin helps Birks Group to cater to their high-end international clients and get new customers while providing an innovative and safe payment option.

But there’s one question in the head of every cryptocurrency enthusiast: Did BitPay solved their Copay wallet issue? As it was previously reported, a module that Bitpay is using was compromised and multiple wallets are at risk. Bitpay’s Statement came and same did the update. But are the funds now secure? Have the hacker gained anything from its trick?

Ripple Whales Move $1 Billion in XRP 

It appears that cryptocurrency whales are using the bear market to accumulate more crypto. $989,999,892 worth of XRP were transferred within 4 hours. Five transactions were made, the largest one for 348,507,596 USD.

All five transactions lead to the same unknown address. But, the person moving this funds is definitely a representative of Ripple. The company behind XRP owns 60% of the total supply, but the vast majority is locked in escrow. Ripple recently revealed that they are selling XRP Over-the-Counter. They chose this measure so it won’t affect the hodlers.

It also appears that investors are more interested in Ripple. The Q3 sales for Ripple this year was $163.33 Million, double since its Q2 sales where they recorded only $73.53 Million. Another interesting fact : from the $163.33 Million, $93 Million was sold to institutions. The total fee for those transaction was way less than 0.01 XRP – which makes the fee amount negligible compared to the amount transferred.

Tron Announces $100 Million Gaming Fund

After the recent great news for Tron – the BitTorrent and uTorrent accepting TRX and the great price increase – they now surprise the game developers with a $100 million fund for the next three years. The fund’s name is Tron ARCADE and was announced November 29th trough a press release. Justin Sun declared:

“TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology,”

“TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.”

This announcement will surely lead more developers to the TRON’s community and could hopefully grow its dApps list to more than 21 games. Plus, the recent surge in price will probably bring new developers trying their technology – as Justin Sun hope that the blockchain gaming community will use Tron due to its multiple benefit compared to its competitors.

ConsenSys Invest $2.1 Million In AZTEC Ethereum Hosted Protocol 

It appears that Ethereum doesn’t let themselves behind Tron. If Tron wants to lead more developers using their blockchain for dApps, ConsenSys invested $2.1 Million in AZTEC. The Ethereum mainnet-hosted protocol would allow users to facilitate private transaction on Ethereum’s public blockchain. Founded by Dr. Zachary Williamson and Tom Pocock, AZTEC’s main purpose would be to have a bank-level privacy for its users and ensure privacy in transactions, while reducing any counterparty risks. Joe Lubin – Ethereum Co-developer and ConsenSys founder declared:

“ConsenSys is proud to support this breakthrough from AZTEC and CreditMint, bringing zk-SNARKs-based privacy, confidentiality, and scalability to a wide variety of asset transactions on public Ethereum.”

One of AZTEC’s first commercial users is CreditMint, a platform used for trading and settling debt instruments. Tom Pocock, the AZTEC’s Founder declared in an interview with CoinJournal:

This breakthrough zero knowledge technology represents the first general-purpose transaction to have been fully implemented and released on Ethereum’s public blockchain. It is not theoretical – it is running on mainnet today. This, at last, gives the capital markets access to Ethereum’s public blockchain, without giving up privacy. Strong consensus and strong privacy guarantees will no longer be mutually exclusive.”

The idea is a great one and hopefully AZTEC would be successful. By using a technology like this, private transactions on Ethereum’s blockchain could come to life and Ethereum would have yet another useful benefit.

Steemit Staff Decrease By 70%

Steemit, the well-known reddit-alive platform that incentivize content creators & content curators recently laid off 70% of their staff. In a recent Youtube video, Ned Scott – CEO of Steemit – declared:

“While we were building out our team over the last many months we have been relying on projections of basically a higher bottom for the market and since that’s no longer there, we’ve been forced to lay off more than 70 percent of our organization and begin a restructuring.”

It appears that while two billionaires were fighting for power – a really great idea widely used by multiple content creators had a strong hit. The CEO didn’t mentioned how many people were laid off, but instead declared that this move was necessary to continue working on the project and not stopping it. He’s mostly blaming the continuous bear market for this and claims that  “fiat returns” could no longer adequately cover the “growing costs of running full Steem nodes.”

 

Other Important News

If you’ve missed yesterday’s news, you can read them here: Daily Cryptocurrency News – 28th November 2018

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