Daily Cryptocurrency News – 3rd November 2018

Here are the latest most important cryptocurrency news of November 3rd, 2018:

Basic Attention Token (BAT) Just Got Listed on Coinbase Pro

In a recent Twitter announcement, Coinbase Pro said that they successfully added Basic Attention Token (BAT) on the platform.

The tweet by the exchange went on to announce that traders can only deposit BAT into their trading accounts, but cannot place or fill orders. Order books will remain in a transfer-only mode for at least 12 hours.

The Basic Attention Token (BAT) is a payment system that rewards publishers for their content and users for their attention, while at the same time giving advertisers with more in return for their ads. BAT aims to become the new token for the digital advertising industry.

The team has recently released a new version of their browser (Brave Browser.) It features an ad-blocker, fast speed, and reliability, as well as rewards for browsing.

If you want to download their amazing Brave Browser, you can download it here.

 

Litecoin Will Be Available to 2 Billion Facebook Users Thanks to the Lite.IM Messenger Wallet

Source: Blockmanity

The Zug based Blockchain startup Zulu Republic has expanded its services to Facebook messenger. Starting from today Litecoin will be accessible to the billions of users Facebook currently has.

The company has previously launched Lite.IM on Telegram where users can get access to Litecoin though simple send and receive commands. Today, they have extended these features to Facebook which has the highest number of users amongst any social media platform. This expansion expects to make Litecoin easily accessible to people who have no access to banks or financial institutions.

In addition, Lite.IM does not control the private keys of the user hence mitigates the risk of a central point of failure. It intends to make Litecoin usable to people who don’t have much idea about cryptocurrencies and neither a good internet connection.

 

How Can I Get Started?

  1. Users that are willing to try out the service need to start a conversation with Lite.IM using the messenger link of m.me/lite.im
  2. Once the conversation begins, the user will proceed to register after accepting the terms and conditions of using the service
  3. After registering, the service will ask for the user’s primary e-mail address
  4. Following this, the service will ask the user for the phone number in the following format: +[country][number]
  5. The service will then send an SMS code for the user to confirm.
  6. After confirming the code, the user will proceed to enter a secure password for the Lite.IM account
  7. The user will then receive an LTC wallet address
  8. The user will be not all set to send and receive LTC on Facebook Messenger

If you want to know more information about LiteIM, you can visit their website on this link.

Goldman Sachs Starts Onboarding Clients For Its New Bitcoin Derivative

Source: Hacker Noon

Goldman Sachs has already started onboarding some of its clients to trade on its Bitcoin derivatives, non-deliverable forward (NDF) contracts platform.

Though the trading desk has not yet arrived, reports say that the company has already begun signing up a “small number of clients” while still considering the possibility of launching custody services for crypto assets in the future.

Derivatives are contracts between 2 separate parties that work together to fix the price of an underlying asset – in this case, digital tokens or coins – over a period for a future transaction. The user will purchase the asset on a specific date at a particular price, while the seller commits to issuing the product.

At present, Bitcoin derivatives are available on several regulated US trading platforms. This includes the exchanges CME and CBOE. Both of these firms offer cash-settled bitcoin futures contracts. Each of these exchanges has given investors reasons to believe that they will expand their crypto offerings in the future.

CBOE, on its part, has outright expressed its desire to remain a leader in the cryptocurrency derivatives marketplace, while CME has launched an Ether price reference rate but in public statements has been less-than-enthusiastic about the crypto industry.

Goldman Sachs is positive about cryptocurrency’s future, and there is no doubt they will try to stay in line with the industry.

Ripple Became the Most Efficient Cryptocurrency in Terms of Energy Consumption

Source: RippleCoinNews

In a recent tweet by Cory Johnson, he drew a comparison between XRP, Ethereum [ETH] and Bitcoin [BTC] regarding environmental welfare. In each of the cases, the post showed the amount of energy utilized in the creation of the corresponding cryptocurrency.

As we can see on the image, XRP consumes 0.01TWh [terawatt hours] while ETC and BTC consume 19.62TWh and 68.81TWh respectively.

Of course the main reason why this happen is because XRP doesn’t need to mine the blocks, there are already pre-mined. Indeed, XRP may be friendlier to the enviroment than  BTC or ETH – but that’s because of the mining process that assures ETH and BTC a decentralization – fact for which cryptocurrencies were created in the first place.

There is also an infographic published here which supports this fact. It explains that if we were all serious about reversing climate change. XRP would be the top choice for day to day commerce.

Sid John Leopold and Niclas Englesson led this study.

There is no doubt Ripple could attract the interest of prominent companies that seek more efficient energy consumption.

XRP is trading at this moment at a price of $0.45. XRP’s price rapidly decreased at the start of this week but came back to normal today.

If you missed news yesterday, you can check them out here: Daily Cryptocurrency News – 2nd November 2018

Image Sourcce: CCN

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