Daily Cryptocurrency News – 7th October 2018

Here are the most important news from Sunday:

Cardano Rust Project Is Live, Charles Hoskinson Say Toolbox a “Proof of Concept”

Cardano Rust Project is the latest open source project to go live from this smart contracting platform. Charles Hoskinson, the co-founder of Cardano and Ethereum Classic, said at the anniversary that he is proud of the toolbox.

IOHK, the leader of Cardano’s development team, just talked about Rust Project’s importance:

“It proves an important point, namely that the Cardano platform stands for itself, independent of its Haskell implementation. The Rust SDK serves as a proof of concept for the fact that any language can build on the Cardano platform.”

The launch of Cardano Rust is an important milestone in the Bryon development stage. What is Rust? Rust is by itself a lightweight and portable programming language. Developers say it will be able to compile in third-party platforms like Android and iOS. Because of this feature, the team expects Rust to draw demand. It will allow developers to build on the platform since it acts as a toolbox, an SDK for developers.

Ultra.io joining force with Ubisoft to create the Blockchain Game Alliance

The gaming giant Ubisoft has taken a big step and it is on its way to enter the blockchain space. It will become an inaugural member of the newly formed Blockchain Game Alliance consortium.

According to MCV, the group will develop practices for integrating blockchain technology into video games.

Members at launch include blockchain software firm ConsenSys and other startups such as Enjin, Alto, Ultra, Gimli, EverdreamSoft and B2Expand.

Nicolas Gilot, the CEO of Ultra, told MCV that the group is focusing on boosting stakeholders with the development of normal blockchain standards, explaining:

“The Blockchain Game Alliance is aiming to a universal standard in the blockchain gaming space to create an interoperable and transparent ecosystem. This will benefit stakeholders, by furthering innovation and ensuring economic viability.”

New Trending Song Raps About Litecoin, Cash App and PayPal

American rapper Soulja Boy just dropped his latest record “Young Drako” – complete with “Bitcoin”, a new track about the artist’s crypto trading skills. He just tweeted the new release to his 5 million Twitter followers who are able now to listen to the song on Youtube.

This is interesting as artists like Eminem and Royce da 5’9” who just made a rap song about Bitcoin being the new revolutionary tech vs. old money. Will cryptocurrency start to enter the music industry?

Restaurant in Warsaw Starts to Implement Crypto as a Form of Payment

FuturenNet, a restaurant located in Warsaw started to implement crypto as a way of payment. FutureNet, is well known because of the functional space they provide for social and business meetings. FuturoCoin owners from today can pay with their FTO. Moreover, for everyone who pays in FTO, the restaurant owners will provide attractive discounts and offers.

Pantera Capital’s Crypto Fund Reports 40.8% Loss Since Launch

Pantera Capital’s Digital Asset Fund has sunk in value since it began in December 2017.

A report from social media revealed that the U.S. investment firm negated 40.8 percent returns to its investors to date. The significant decrease was considered a disappointing performance by many investors.

The cryptocurrency also lost more than 70% of its market cap since the beginning of this year.

A large number of initial coin offering (ICO) projects sold out their token assets for fiat, causing a selling stir in the market. Many hedge managers such as the Digital Asset Fund had big expectations of these blockchain projects and purchased their tokens to draw out maximum interim profits.

However, it happened that health condition of the ICO market kept deteriorating throughout the year. Therefore, the investments made into them failed to give any benefit.

Pantera will be looking beyond its poor returns to diversify its assets into projects with most potential. Pantera could rise again with a new methodology, but like with many cryptocurrencies, there is always an investment risk.

4Chan starts accepting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH)

The popular imageboard, 4Chan, has started accepting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) to pay their 4Chan pass.

The platform allows users to post anonymously about basically any topic. A good amount of internet trends came from 4Chan and is currently one of the most popular social media. 4Chan features the 4Chan pass, which allows users to post on without the Captcha verification, and also acts as a donation catalyst for the website.

It will be interesting to see how social media platforms will implement cryptocurrency, which will allow more versatile and efficient payment methods.

If you missed news yesterday, you can check them out here: Daily Cryptocurrency News – 6th October 2018

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