Daily Cryptocurrency News – 5th December 2018

Blockchain-based platform Tripio starts accepting Binance Coin (BNB)

A Blockchain based hotel booking platform, Tripio announced its partnership with the leading crypto exchange Binance. Now, people can book the room on 450,000+ hotels using Binance Coin (BNB) at Tripio.

The company made an announcement via its Twitter account. It tweeted,

“We are pleased to announce a strategic partnership with @Binance. From now on, more than 10 million users of Binance can make reservation for 450,000+ hotels worldwide using $BNB on Tripio.”

Binance CEO, Changpeng Zhao positively reacted to the post by saying,

“Oh, can’t wait to try this. I might just check out of my hotel now and #useBNB to rebook. Many thanks for supporting $BNB!”

Currently, Tripio is the only platform that accepts crypto tokens rather than fiat. If you visit its website, you get to know that it accepts not only BNB but also Ethereum (ETH) too. Other than these two, it accepts Tripio (TRIO), Huobi Token (HT), ProChainToken (PRA), MediShares Token (MDS) and KabayanCash Token (KCASH).

According to PayPal CFO John Rainey, due to the unstableness of the cryptocurrency; merchants get scared and don’t want to take risks by accepting payments in crypto. He said,

“Because of the volatility of the cryptocurrencies, the merchants saw swings in crypto that threatened the viability of their businesses. If you’re a merchant and you have, let’s say, a 10 percent margin on a product that you sell and you accept bitcoin, for example, and the very next day it moves 15 percent, you’re now underwater on that transaction.”

But digital currency’s major drawbacks like unstableness, illiquidity, long verification periods which led merchants away from accepting cryptocurrency, have been solved via execution of scalability solutions, stablecoins and the development of fiat on-ramps.

Due to PayPal’s various kinds of fees such as base rate, conversion rate, bank transfer rate often results in 5 to 6 percent of loss to not only merchants but also for buyers. Thus, they have constantly been looking for better options.

Well, it will be interesting to see the future of cryptocurrency in the travel and accommodation industry. However, for travel and accommodation industry, crypto adoption is not new. Companies such as Expedia, CheapAir, Destinia and Webjet Exclusives accept cryptocurrency for hotel or flight bookings.

After the announcement of Binance Chain and BNB Adoption by Tripio, Binance is at the time of writing, up by 13.89% against USD with Market cap of $819,584,524 USD and the current price is $6.27 USD, according to coinmarketcap.

TRON plans to implement Zk-SNARKs to enhance privacy features

In an interview with The Bad Crypto Podcast, the founder and CEO of TRON, Justin Sun said that TRON is planning to add zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) in Q1 of 2019.

After implementation of zk-SNARKs technology into TRON network, users will experience enhanced privacy and anonymity. The digital currency and blockchain will be more protected.

While discussing on privacy issues, Justin Sun said,

“People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that and limit how much data you are required to share.”

Privacy Protecting Digital Currency, ZCash first implemented Zk-SNARKs which is also known as zero-knowledge proofs.

By using Zk-SNARKs, transactions will become protected and transacted crypto amount will be encrypted. It means no one can track or analyze the owners involved in the transaction.

Sun commented:

“In the future, if you want these private transactions and a private address, we can make sure… they cannot see you and the transaction can be untraceable.”

Sun additionally clarified that all TRX transactions would not mandatory be private and users will have control to opt whether they wish to process a private transaction or not. Apparently, ZCash development documents specify that if there are limited users of Zk-SNARKs, it could have the possibility to track some transactions.

Justin also talked about other developments and integrations like delegated proof of stake (DPoS) governance and BitTorrent integration.

Let me remind you, on July 24th, BitTorrent made an official announcement that they are now a part of TRON Foundation with the end goal to make internet decentralized. Let’s take a look at the statement,

“It’s official. BitTorrent is now part of #TRON. We pioneered the world’s largest decentralized p2p protocol; now we’re joining forces with TRON to build the future of the decentralized internet. Read more at http://blog.bittorrent.com  @Tronfoundation @justinsuntron” 

The main motive is to grow the BitTorrent network using Blockchain Technology by giving users a new cryptocurrency token called the “BitTorrent token” for uploading files on it. Reportedly, the new feature will be introduced in early 2019.

Now, let’s talk about Tron’s move towards delegated proof of stake (DPoS) which is an improved version of Proof-of-Stake (PoS). Tron switched to this protocol because it is faster, efficient and require less energy as compared to general POS. Also, it gives more power and rights to community member to cast a vote for “Super Representatives.”

It seems like 2019 will bring some positive news for Tron Fans.

Blockchain Platform Waves launches New Update on Waves Wallet

On 3rd Dec, Blockchain based platform, Waves announced about the latest updates to its Waves Wallet via Twitter.

“We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone!”

Waves Wallet is a mobile-based app available on iOS and Android Platform. The new update has several interesting features like Crypto Wallet, Fiat Gateway and the Waves DEX.

In the app users can access Fiat as well as cryptocurrency too which they can deposit, withdraw, trade and store.

By Waves DEX feature, users can trade within Waves own decentralized exchange.

Apart from this, the mobile app allows users to track current price and figures and leverage encrypted traffic feature to ensure security and privacy of users account.

The encryption of traffic allows private keys never to leave your phone which means it will not be disclosed to anyone.

According to website announcement,

“All traffic is encrypted. That’s hugely important for both privacy and security, and as far as we’re concerned, it’s non-negotiable. Private keys never leave your smartphone and are never exposed to the web. They’re encrypted and stored locally so that you can use the app with confidence.”

Also, the app also has other security features such as Touch ID, Face ID detection and Fingerprint Scanning Feature to ensure the full security which users generally looks for in an ideal crypto app.

Furthermore, the app provides charts and other interesting analysis tools to enable users to analyze their crypto asset.

Waves’ says on its Medium Blog,

“We’ve incorporated the most popular digital asset management tools from the platform, so you can send tokens to your address book contacts, lease your WAVES, receive warnings about suspicious tokens and burn any spam assets you don’t want.”

Waves is a decentralized blockchain based platform which focuses on the operations of customized Blockchain tokens. It allows users to manage, analyze, trade, issue, and store cryptocurrencies within its decentralized exchange, Waves DEX.

In 2017, Waves launched its Waves Wallet with the purpose to enable users to connect to the network and make transactions.

Waves’ Founder and CEO Sasha Ivanov said,

“We believe our app provides a step forward for the crypto and blockchain community, a better experience for iOS and Android users that they can get elsewhere.”

“The new mobile app incorporates the most popular features of the desktop Waves Client going far beyond the functionality of the wallet. At the moment no other platform offers anything like that.”

As per the sources, Waves may announce its token standard which will be similar to ERC-20 token. The token will permit users to create smart assets by applying on Waves’ Blockchain Platform.

R3 Adds Ripple (XRP) As First Cryptocurrency 

Enterprise blockchain software company R3 recently announced that Ripple (XRP) will be the first cryptocurrency supported on its new universal payment settlement platform. Thew new came after a report provided by Finextra.

Its new CorDapp – called the “Corda Settler” – allows payment obligations arising on the Corda Network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement.

Richard Gendal Brown, CTO at R3 declared:

“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together.”

This comes only a day after Brazil’s largest private bank announced its partnership with a United Kingdom bank, Standard Chartered, to create a platform for small loans on the Corda blockchain.

Other Important News

If you’ve missed yesterday’s news, you can find them here: Daily Cryptocurrency News – 4th December 2018 

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